[Form 4] Equitable Holdings, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Equitable Holdings (EQH) Chief Financial Officer Robin Raju received 272.68 shares on 08/12/2025 as dividend equivalents issued in the form of restricted stock units (RSUs) at no cash cost. After this issuance, Raju beneficially owned 151,257.89 shares in total, a figure the filing notes includes RSUs. The filing clarifies that dividend equivalents accrue when dividends are paid on the underlying common shares and vest and settle on the same terms as the related RSUs.

Positive

• Transparent disclosure of RSU dividend-equivalent issuance and inclusion in total beneficial ownership
• Non-cash issuance (no purchase price), which avoids immediate dilution from open-market transactions

Negative

• None.

Insights

Securities Analyst

TL;DR: Insider received a modest RSU dividend-equivalent issuance, increasing total holdings to 151,257.89 shares.

The transaction is a non-cash issuance of 272.68 RSUs representing dividend equivalents, which is routine for equity-compensated executives. The increment is small relative to the reported total beneficial ownership, indicating no material change in insider stake or immediate voting control. The disclosure follows Section 16 reporting requirements and specifies that RSU dividend equivalents vest and settle on the same schedule as the underlying awards.

Corporate Governance Expert

TL;DR: This is a routine compensation-related issuance, consistent with equity award terms; not a signal of major governance change.

The entry documents dividend-equivalent RSUs credited to an officer, clarifying their treatment and inclusion in total beneficial ownership. Because these are settlement-contingent RSUs issued for dividends rather than new service-based grants or open-market purchases/sales, there is limited governance or control impact. The form contains the required explanations and appears complete for this event.

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

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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^*

Raju Robin M

(Last) (First) (Middle)

C/O EQUITABLE HOLDINGS, INC.

1345 AVENUE OF THE AMERICAS

(Street)

NEW YORK NY 10105

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Equitable Holdings, Inc. [ EQH ]

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Financial Officer

3. Date of Earliest Transaction (Month/Day/Year)
08/12/2025

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	08/12/2025		A		272.68(1)	A	$0	151,257.89(2)	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

Explanation of Responses:

1. Dividend equivalents accrued on Restricted Stock Units ("RSUs") previously awarded pursuant to Issuer's incentive plan. Dividend equivalents accrue when dividends are paid on the common shares underlying the RSUs, and vest proportionally with and are subject to settlement and expiration upon the same terms as the RSUs to which they relate. Dividend equivalents are issued in the form of RSUs, each of which represents a contingent right to receive one share of common stock.

2. Total includes RSUs.

Remarks:

	Michael Brudoley as attorney-in-fact for Robin Raju	08/14/2025
	** 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.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What transaction did EQH insider Robin Raju report on Form 4?

The filing reports a non-cash issuance of 272.68 shares as dividend equivalents issued in the form of RSUs on 08/12/2025.

How many EQH shares does Robin Raju beneficially own after the transaction?

The filing states total beneficial ownership of 151,257.89 shares, which includes RSUs.

Were any shares purchased or sold in this transaction?

No. The transaction code and description indicate an acquisition via dividend equivalents in the form of RSUs at a $0 price.

What are dividend equivalents on RSUs according to the filing?

Dividend equivalents accrue when dividends are paid on underlying common shares and are issued as RSUs that vest and settle on the same terms as the related RSUs.

Does this Form 4 indicate a change in officer or control at EQH?

No. The filing reports an equity compensation-related issuance to the CFO and does not indicate any change in position or control.