Equitable Holdings (NYSE: EQH) details AllianceBernstein AB unit ownership

Rhea-AI Filing Summary

Equitable Holdings, Inc., a more than 10% owner of AllianceBernstein L.P., reported updated ownership of its AB Units and related exchange rights. Following an internal transaction coded "J" on 10/29/2025, Equitable directly beneficially owned 81,445,154 AB Units.

It also indirectly beneficially owned 75,851,289 AB Units through Alpha Units Holdings, Inc. and 41,934,582 AB Units through Alpha Units Holdings II, Inc., both wholly owned subsidiaries. Derivative "Exchange Right" positions over 14,894,140 and 19,682,946 AB Units, tied to a July 10, 2025 Amended and Restated Exchange Agreement, are now shown with 0 derivative securities beneficially owned.

Insider Trade Summary

5 transactions reported

Mixed 5 txns

Insider Equitable Holdings, Inc.

Role 10% Owner

Type	Security	Shares	Price	Value
Other	Exchange Right	0	$0.00	--
Other	Exchange Right	0	$0.00	--
Other	Units	0	$0.00	--
holding	Units	--	--	--
holding	Units	--	--	--

Holdings After Transaction: Exchange Right — 0 shares (Direct); Units — 81,445,154 shares (Direct); Units — 75,851,289 shares (Indirect, Held by affiliate)

Footnotes (1)

1. Units Representing Assignments of Beneficial Ownership of Limited Partnership Interests ("AB Units") in AllianceBernstein L.P. ("AB"). As previously disclosed by the Reporting Person ("EQH") on a Form 4 filed with the Securities and Exchange Commission on December 19, 2024, EQH and AB entered into a Master Exchange Agreement (the "Exchange Agreement") providing for the issuance by AB of up to 10,000,000 AB Units to EQH and any of its wholly-owned subsidiaries in exchange for an equal number of units representing assignments of beneficial ownership of limited partnership interests in AllianceBernstein Holding L.P. ("AB Holding Units") owned by EQH or any such subsidiary. At the time the Exchange Agreement was entered into, AB and EQH exchanged 5,211,194 AB Holding Units for AB Units (thereby reducing the 10,000,000 AB Units available for future exchange to 4,788,806 AB Units), and the acquired AB Holding Units were retired. On July 10, 2025, AB entered in an Amended and Restated Exchange Agreement (the "Amended Exchange Agreement") to increase the AB Units that remain available for exchange from 4,788,806 AB Units to 19,682,946 AB Units. At the time the Amended Exchange Agreement was entered into, AB and EQH exchanged 19,682,946 AB Holding Units for AB Units and the acquired AB Holding Units were retired. For more information concerning EQH's holdings of AB Holding Units, see its separate Form 4 filing with respect to AB Holding Units. Prior to the exchange, EQH beneficially owned directly 61,762,208 AB Units and beneficially owned indirectly 75,851,289 AB Units beneficially owned directly by Alpha Units Holdings, Inc., a wholly-owned subsidiary of EQH, and beneficially owned indirectly 41,934,582 AB Units beneficially owned directly by Alpha Units Holdings II, Inc, also a wholly-owned subsidiary of EQH. For more information on the Reporting Person's affiliates' holdings of AB Units, see their separate Form 4 filings with respect to AB Units.

Form 4 Insider Transactions: What Each Field Means →

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
Estimated average burden
hours per response:			0.5

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^*

Equitable Holdings, Inc.

(Last) (First) (Middle)

1345 AVENUE OF THE AMERICAS

(Street)

NEW YORK NY 10105

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
ALLIANCEBERNSTEIN L.P. [ NONE ]

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

	Director	X	10% Owner
	Officer (give title below)	X	Other (specify below)
			See Remarks

3. Date of Earliest Transaction (Month/Day/Year)
10/29/2025

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
Units(1)	10/29/2025		J(2)(3)		0	A	$0	81,445,154	D(4)
Units(1)								75,851,289	I(4)	Held by affiliate
Units(1)								41,934,582	I(4)	Held by additional affiliate

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
Exchange Right(2)(3)	$0	10/29/2025		J		0		07/10/2025	07/10/2025	Units	14,894,140	$0	0	D
Exchange Right(2)(3)	$0	10/29/2025		J			0	07/10/2025	07/10/2025	Units	19,682,946	$0	0	D

Explanation of Responses:

1. Units Representing Assignments of Beneficial Ownership of Limited Partnership Interests ("AB Units") in AllianceBernstein L.P. ("AB").

2. As previously disclosed by the Reporting Person ("EQH") on a Form 4 filed with the Securities and Exchange Commission on December 19, 2024, EQH and AB entered into a Master Exchange Agreement (the "Exchange Agreement") providing for the issuance by AB of up to 10,000,000 AB Units to EQH and any of its wholly-owned subsidiaries in exchange for an equal number of units representing assignments of beneficial ownership of limited partnership interests in AllianceBernstein Holding L.P. ("AB Holding Units") owned by EQH or any such subsidiary. At the time the Exchange Agreement was entered into, AB and EQH exchanged 5,211,194 AB Holding Units for AB Units (thereby reducing the 10,000,000 AB Units available for future exchange to 4,788,806 AB Units), and the acquired AB Holding Units were retired.

3. On July 10, 2025, AB entered in an Amended and Restated Exchange Agreement (the "Amended Exchange Agreement") to increase the AB Units that remain available for exchange from 4,788,806 AB Units to 19,682,946 AB Units. At the time the Amended Exchange Agreement was entered into, AB and EQH exchanged 19,682,946 AB Holding Units for AB Units and the acquired AB Holding Units were retired. For more information concerning EQH's holdings of AB Holding Units, see its separate Form 4 filing with respect to AB Holding Units.

4. Prior to the exchange, EQH beneficially owned directly 61,762,208 AB Units and beneficially owned indirectly 75,851,289 AB Units beneficially owned directly by Alpha Units Holdings, Inc., a wholly-owned subsidiary of EQH, and beneficially owned indirectly 41,934,582 AB Units beneficially owned directly by Alpha Units Holdings II, Inc, also a wholly-owned subsidiary of EQH. For more information on the Reporting Person's affiliates' holdings of AB Units, see their separate Form 4 filings with respect to AB Units.

Remarks:

Affiliate of holder of general partnership units.

	/s/ Michael Brudoley, Assistant Secretary, Equitable Holdings, Inc.	07/14/2025
	** 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 did Equitable Holdings (EQH) report in this Form 4 for AllianceBernstein L.P.?

Equitable Holdings reported updated beneficial ownership of AllianceBernstein AB Units and related exchange rights, using transaction code J. The filing details its direct and indirect holdings and shows that related derivative exchange rights are now reported with zero derivative securities beneficially owned following prior exchanges.

How many AllianceBernstein AB Units does Equitable Holdings (EQH) own directly?

Equitable Holdings directly beneficially owned 81,445,154 AB Units after the reported transaction. These AB Units represent assignments of beneficial ownership of limited partnership interests in AllianceBernstein L.P., giving EQH a substantial direct economic interest in AllianceBernstein’s partnership structure.

What indirect AB Unit holdings does Equitable Holdings (EQH) report through affiliates?

Equitable indirectly beneficially owned 75,851,289 AB Units through Alpha Units Holdings, Inc. and 41,934,582 AB Units through Alpha Units Holdings II, Inc. Both entities are wholly owned subsidiaries of EQH, so their AB Unit positions are attributed indirectly to Equitable in this Form 4.

What are the Exchange Rights referenced in the Equitable Holdings (EQH) Form 4?

The Exchange Rights are derivative interests tied to AB Units and AB Holding Units under exchange agreements with AllianceBernstein. The filing shows Exchange Rights over 14,894,140 and 19,682,946 AB Units, each now reported with zero derivative securities beneficially owned after earlier exchanges and retirement of AB Holding Units.

What is the Amended and Restated Exchange Agreement mentioned in the filing?

On July 10, 2025, AllianceBernstein and Equitable entered an Amended and Restated Exchange Agreement. It increased AB Units remaining available for exchange from 4,788,806 to 19,682,946, and at signing they exchanged 19,682,946 AB Holding Units for AB Units, with those AB Holding Units retired.

Does this Equitable Holdings (EQH) Form 4 show a share buy or sell in the market?

The Form 4 uses transaction code J, which indicates another type of reportable transaction rather than a standard market buy or sell. The activity relates to internal exchange arrangements involving AB Units and AB Holding Units, not open-market trading of AllianceBernstein securities.