Funds tied to Life Time (NYSE: LTH) director trim stake in multi-million share sale
Rhea-AI Filing Summary
Life Time Group Holdings, Inc. insider-related entities reported significant share sales and a separate transfer to the issuer. Investment vehicles Green LTF Holdings II LP, LGP Associates VI-A LLC, and LGP Associates VI-B LLC sold a combined 2,493,083 shares of Common Stock in a private transaction at $28.60 per share. In a separate transaction, these entities transferred 1,178,846 shares to the company at $28.60 per share. After these transactions, the entities together held 21,234,132 shares of Common Stock. Mr. John Kristofer Galashan may be deemed an indirect beneficial owner through these entities but expressly disclaims beneficial ownership except to the extent of his pecuniary interest.
Positive
- None.
Negative
- None.
Insights
Funds linked to Galashan sold shares but retained a large remaining position.
Entities associated with John Kristofer Galashan disposed of shares in two blocks: 2,493,083 shares of Life Time Group Holdings, Inc. Common Stock in a private sale and 1,178,846 shares in a transaction with the issuer, both at $28.60 per share. These are significant transactions in absolute share terms.
Following the deals, the entities still held 21,234,132 shares, indicating a sizeable continuing stake. The filing states that Mr. Galashan may be deemed an indirect beneficial owner under Section 16 but disclaims beneficial ownership beyond his pecuniary interest, framing these as fund-level portfolio moves rather than clearly personal trading decisions.
The absence of derivative positions in this filing and the large remaining share balance suggest a partial reduction rather than a full exit. Future ownership changes, if any, would appear in subsequent beneficial ownership or insider reports and would further clarify how these investment vehicles manage their stake over time.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock | 2,493,083 | $28.60 | $71.30M |
| Disposition | Common Stock | 1,178,846 | $28.60 | $33.71M |
Footnotes (1)
- Represents 2,447,621 shares of the Issuer's Common Stock, par value $0.01 per share (the "Common Stock") sold by Green LTF Holdings II LP ("Green LTF"), 4,145 shares of Common Stock sold by LGP Associates VI-A LLC ("Associates VI-A"), and 41,317 shares of Common Stock sold by LGP Associates VI-B LLC ("Associates VI-B") in each case in a private transaction exempt from registration under the Securities Act of 1933. Represents shares of Common Stock owned by Green LTF, Associates VI-A, and Associates VI-B. Of the shares of Common Stock reported, 22,004,267 shares are owned by Green LTF, 37,270 shares are owned by Associates VI-A, and 371,441 shares are owned by Associates VI-B. Mr. Galashan directly (whether through ownership or position) or indirectly through one or more intermediaries, may be deemed for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, to be the indirect beneficial owner of the securities owned by Green LTF, Associates VI-A, and Associates VI-B. Mr. Galashan disclaims beneficial ownership of the securities reported herein except to the extent of his pecuniary interest therein and this report shall not be deemed an admission that he is the beneficial owner of such securities for purposes of Section 16 or for any other purpose. Represents 1,157,349 shares of Common Stock sold by Green LTF, 1,960 shares of Common Stock sold by Associates VI-A, and 19,537 shares of Common Stock sold by Associates VI-B in each case in a private transaction to the Issuer. Represents shares of Common Stock owned by Green LTF, Associates VI-A, and Associates VI-B. Of the shares of Common Stock reported, 20,846,918 shares are owned by Green LTF, 35,310 shares are owned by Associates VI-A, and 351,904 shares are owned by Associates VI-B.