PWP insider entity moves 215,000 Class B-1 shares
Perella Weinberg Partners director entity PWP VoteCo Professionals LP reported an internal reallocation involving 215,000 shares of Class B-1 common stock at $0.02 per share.
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Rhea-AI Filing Summary
Perella Weinberg Partners director entity PWP VoteCo Professionals LP reported an internal reallocation involving 215,000 shares of Class B-1 common stock at $0.02 per share. After this transaction, the reporting entity held 21,924,506 Class B-1 shares.
Footnotes explain that Class B-1 shares are tied to PWP Holdings LP units held by partners and are surrendered and converted into Class A common stock or cash when those partnership units are exchanged. The reported event reflects a distribution of Class B-1 shares by the reporting entity to one or more of its limited partners, consistent with this exchange structure.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Other | Class B-1 Common Stock | 215,000 | $0.02 | $4K |
Footnotes (2)
- F1. PWP Holdings LP ("PWP OpCo") Common Units (which represent Class A partnership units of PWP OpCo) ("PWP OpCo Units") held by partners other than the Issuer can be exchanged for Issuer stock or cash on certain dates. Concurrently with an exchange of PWP OpCo Units for shares of Issuer Class A common stock ("Class A Shares") or cash by an exchanging PWP OpCo unitholder ("Unitholder"), such Unitholder will be required to surrender to the Issuer a number of Issuer Class B-1 common stock ("Class B-1 Shares") equal to the number of PWP OpCo Units exchanged, and such Class B-1 Shares will be converted into Class A Shares or, at the option of the Issuer, an equivalent amount of cash, which will be delivered to such Unitholder at a conversion rate of 0.001 Class A Share for one Class B-1 Share. The Reporting Person will distribute such Class B-1 Shares to the applicable Unitholder immediately prior to any such exchange.
- F2. Reflects a distribution of Class B-1 Shares by the Reporting Person to one or more of its limited partners.
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