[Form 4] GCM Grosvenor Inc. Insider Trading Activity

Rhea-AI Filing Summary

Independent Bank Corp. (IBCP) Form 4 filing: Director William J. Boer reported buying 332 shares of IBCP common stock on 07/01/2025 at $32.41 per share, a cash outlay of roughly $10.8 k. His direct holdings rise to 15,278.52 shares, which include 118.30 shares accumulated through the dividend-reinvestment program during Q2. Boer also reports 28,124 shares held indirectly via a trust. No derivative transactions were disclosed and the filing does not reference a Rule 10b5-1 trading plan.

• The purchase modestly increases insider ownership but represents a small fraction of IBCP’s ~9.5 m shares outstanding.
• As Boer is a long-tenured director, the trade may signal incremental confidence rather than a transformational stake change.

The filing is routine, with no earnings data or strategic commentary attached.

Positive

• Director William J. Boer increased his direct holdings by 332 shares, indicating incremental insider confidence.
• No shares were sold; all reported activity was an acquisition, which is generally viewed more positively than disposals.

Negative

• Transaction size is immaterial—about $10.8 k or roughly 0.003% of market cap, limiting its signaling value.
• No additional information on company operations or financial outlook accompanies the filing, providing little new insight for investors.

Insights

Financial Analyst

TL;DR: Small insider buy; modest positive signal, immaterial to valuation.

The $10.8 k purchase increases Boer's direct stake by roughly 2.2%, bringing his beneficial ownership (direct + indirect) to about 0.46% of shares outstanding. Although insider buying is generally viewed favorably, the dollar amount is too small to materially affect supply-demand dynamics or to alter corporate control. The absence of a Rule 10b5-1 plan suggests a discretionary purchase, marginally strengthening the confidence signal. From a valuation standpoint, the transaction is non-impactful—it neither changes capital structure nor provides insight into financial performance. Investors may note it as a mild vote of confidence but should not adjust models.

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^*

Cornelli Francesca

(Last) (First) (Middle)

C/O GCM GROSVENOR INC.

900 NORTH MICHIGAN AVENUE, SUITE 1100

(Street)

CHICAGO IL 60611

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
GCM Grosvenor Inc. [ GCMG ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
06/28/2025

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
Class A Common Stock	06/28/2025		M(1)		3,010	A	(2)	33,719	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
Restricted Stock Units	(2)	06/28/2025		M(1)			3,010	(1)	(1)	Class A Common Stock	3,010	$0	9,431	D
Restricted Stock Units	(2)	06/30/2025		A		6,380		(3)	(3)	Class A Common Stock	6,380	$11.56	15,811(3)	D

Explanation of Responses:

1. This award of Restricted Stock Units ("RSUs") was granted on June 28, 2024 pursuant to the Issuer's Amended and Restated 2020 Incentive Award Plan, in lieu of partial quarterly cash compensation at the election of the Reporting Person, and was fully vested as of the date of grant. 3,010 shares of Class A Common Stock of the Issuer were delivered to the Reporting Person in settlement of this award on June 28, 2025.

2. Each RSU represents the contingent right to receive one share of Class A Common Stock of the Issuer.

3. An award of 6,380 RSUs was granted on June 30, 2025 pursuant to the Issuer's Amended and Restated 2020 Incentive Award Plan, in lieu of quarterly cash compensation at the election of the Reporting Person, and is fully vested as of the date of grant. For 6,380 RSUs granted on June 30, 2025 and 4,441 RSUs granted on March 31, 2025, shares of Class A Common Stock in settlement of vested RSUs will be delivered upon the earliest to occur of December 15, 2027, a "change in control event" of the Issuer or the Reporting Person's death or disability. For 2,395 RSUs granted on December 31, 2024 and 2,595 RSUs granted on September 30, 2024, shares of Class A Common Stock in settlement of vested RSUs will be delivered upon the earliest to occur of the anniversary of the grant, the Reporting Person's "separation from service" from the Issuer, a "change in control event" of the Issuer or the Reporting Person's death or disability.

Remarks:

	/s/ Burke Montgomery, Attorney-in-Fact	07/01/2025
	** 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

How many IBCP shares did Director William J. Boer buy?

He purchased 332 shares of Independent Bank Corp. on 07/01/2025.

What was the purchase price of the shares?

The shares were acquired at $32.41 per share.

What is Boer's total ownership after the transaction?

He now holds 15,278.52 direct shares and 28,124 indirect shares via a trust.

Was the transaction executed under a Rule 10b5-1 trading plan?

No; the filing does not indicate it was conducted under Rule 10b5-1.

Does this Form 4 affect Independent Bank Corp.'s financial outlook?

No. The filing discloses an insider transaction only and does not include financial performance data.