[Form 4] Affiliated Managers Group Insider Trading Activity

Rhea-AI Filing Summary

The Form 4 shows transactions by Thomas M. Wojcik, President and COO of Affiliated Managers Group (AMG). On 09/08/2025 he exercised 169,303 employee stock options114,008 shares sold at an average $231.19. On 09/09/2025 he sold an additional 16,000 shares at $231.03, leaving total beneficial ownership at 158,710 shares after the reported transactions. The filing notes the sale price range was $229.95–$233.05.

Positive

• Exercise of employee stock options at $74.49 demonstrates prior long-term compensation accumulation
• Full disclosure of transaction prices range and a statement that specifics will be provided to the SEC on request

Negative

• Large open-market sales (114,008 shares and 16,000 shares) materially reduced the reporting person’s holdings
• Insider ownership declined to 158,710 shares after the transactions, which may reduce insider stake alignment

Insights

Securities Analyst

TL;DR: Insider exercised options and sold a substantial portion of shares; typical executive liquidity rather than a clear signal about fundamentals.

The reporting shows a large option exercise followed by significant open-market sales. Exercising options at $74.49 and immediately selling shares at ~ $231 indicates monetization of long-held compensation rather than new equity issuance. The net effect reduced the insider's direct holdings to 158,710 shares. For investors this is a material insider transaction in size but does not, on its face, provide information about company operating performance because no additional company disclosures accompany the trades.

Corporate Governance Expert

TL;DR: The trades are disclosed as required; governance impact is routine but worth noting for insider ownership trends.

From a governance perspective, the filing complies with Section 16 reporting: exercise of employee stock options and subsequent open-market sales are common liquidity events for executives. The filing includes sale price range and a statement that detailed transaction prices are available on request. Monitoring subsequent filings will show whether this materially changes insider alignment with shareholders.

09/09/2025 - 05:03 PM

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Wojcik Thomas M

(Last) (First) (Middle)

C/O AFFILIATED MANAGERS GROUP, INC.

777 SOUTH FLAGLER DRIVE

(Street)

WEST PALM BEACH FL 33401

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
AFFILIATED MANAGERS GROUP, INC. [ AMG ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	President and COO

3. Date of Earliest Transaction (Month/Day/Year)
09/08/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	09/08/2025		M		169,303	A	$74.49	288,718	D
Common Stock	09/08/2025		F		114,008	D	$231.19	174,710	D
Common Stock	09/09/2025		S		16,000	D	$231.03(1)	158,710	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Employee Stock Option (Right to Buy)	$74.49	09/08/2025		M			169,303	08/15/2024	08/15/2026	Common Stock	169,303	$0	1,342	D

Explanation of Responses:

1. The sale reflects the weighted average sales price of the shares sold; the individual transaction prices ranged from $229.95 to $233.05. Specific transaction details will be provided to the SEC upon request.

	/s/ Kavita Padiyar, Attorney-in-Fact	09/09/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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FAQ

What did AMG insider Thomas Wojcik do according to the Form 4?

He exercised 169,303 employee stock options at $74.49 on 09/08/2025 and sold 130,008 shares across 09/08–09/09/2025 (114,008 and 16,000).

How many AMG shares does the reporting person own after these transactions?

The filing reports 158,710 shares beneficially owned by the reporting person following the reported transactions.

At what prices were the AMG shares sold?

The reported average sale prices were $231.19 for the 114,008-share block and $231.03 for the 16,000-share sale; the sale price range was $229.95–$233.05.

What was the exercise price of the options exercised?

The employee stock options were exercised at an exercise price of $74.49 per share.

Does the Form 4 explain why the shares were sold?

No specific reason for the sales is provided in the filing beyond the price range; it notes that detailed transaction prices will be furnished to the SEC upon request.