Perella Weinberg CEO gains 968K vested shares
PWP’s Chairman and CEO received 968,964 Class A shares upon PSU vesting on August 31, 2026, bringing his direct holdings to about 2.0 million shares.
Rhea-AI Filing Summary
Perella Weinberg Partners (PWP) reported that Chairman and CEO Andrew Bednar had a large award of performance-based restricted stock units vest and convert into Class A common shares on August 31, 2026. The vesting covered 968,964 units, each representing one share of Class A common stock.
The units vested after both service-based and performance-based conditions were met, including stock price hurdles measured over specified trading-day periods. Following the conversion, Bednar held 2,030,224 Class A common shares directly, and no performance-based units of this award remained outstanding. No Rule 10b5-1 trading plan is reported.
Positive
- None.
Negative
- None.
Insider Trade Summary
968,964 shares exercised/converted
Exercise
2 txns
Insider
Bednar Andrew
Role
Chairman and CEO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Performance-Based Stock Units F1, F2, F3 | 968,964 | $0.00 | $0.00 |
| Exercise | Class A Common Stock | 968,964 | $0.00 | $0.00 |
Holdings After Transaction:
Performance-Based Stock Units — 0 contracts (Direct);
Class A Common Stock — 2,030,224 shares (Direct)
Footnotes (3)
- F1. Each performance-based restricted stock unit ("PSU") represents a contingent right to receive one share of Class A common stock.
- F2. Each performance-based restricted stock unit ("PSU") represents a contingent right to receive one share of Class A common stock. PSUs vest based on the achievement of (i) service-based vesting conditions that are satisfied in two equal installments on the third and fifth anniversaries of the grant date, subject to a 50% holdback after the first vesting date, and (ii) performance-based vesting conditions that are satisfied upon the achievement, as measured on the last calendar day of each month, of closing stock prices equal to $15, $20, $25 and $30 (subject to linear interpolation) for 20 out of any 30 consecutive trading days, in each case prior to the fifth anniversary of the grant date.
- F3. These PSUs vested on August 31, 2026, upon the achievement of certain service-based and performance-based vesting conditions.
Key Figures
Performance-based units converted: 968,964 units
Class A shares acquired: 968,964 shares
Class A shares held after transaction: 2,030,224 shares
+2 more
5 metrics
Performance-based units converted
968,964 units
Units vesting and converting into Class A common stock on August 31, 2026
Class A shares acquired
968,964 shares
Shares of Class A common stock received upon PSU vesting and conversion on August 31, 2026
Class A shares held after transaction
2,030,224 shares
Direct Class A common stock holdings of Andrew Bednar following the reported transactions
Service-based vesting schedule
Two equal installments
Service-based conditions satisfied on the third and fifth anniversaries of the grant date, with 50% holdback after first vesting
Stock price hurdles
$15, $20, $25 and $30
Closing stock prices required for performance-based vesting, measured over 20 of 30 consecutive trading days
Key Terms
Performance-Based Stock Units, service-based vesting conditions, performance-based vesting conditions, linear interpolation
4 terms
Performance-Based Stock Units financial
"Each performance-based restricted stock unit ("PSU") represents a contingent right to receive one share of Class A common stock."
Performance-based stock units are company promises to deliver shares or cash to employees or executives only if the business hits specific financial or operational goals over a set period. Like a bonus that only pays out when certain milestones are reached, they link pay to company performance and matter to investors because they can dilute the share count, affect reported earnings when they vest, and signal how management is being incentivized.
service-based vesting conditions financial
"PSUs vest based on the achievement of (i) service-based vesting conditions that are satisfied in two equal installments"
performance-based vesting conditions financial
"and (ii) performance-based vesting conditions that are satisfied upon the achievement, as measured on the last calendar day of each month, of closing stock prices"
linear interpolation financial
"closing stock prices equal to $15, $20, $25 and $30 (subject to linear interpolation) for 20 out of any 30 consecutive trading days"
FAQ
What insider equity change did PWP’s Chairman and CEO report on this Form 4?
Andrew Bednar reported that 968,964 performance-based restricted stock units vested and converted into the same number of Class A common shares on August 31, 2026, increasing his direct Class A share ownership.
What conditions governed the vesting of the PWP performance-based stock units?
The units vested upon satisfaction of service-based conditions, in two equal installments on the third and fifth anniversaries of the grant date with a 50% holdback after the first vesting date, and performance-based conditions tied to stock-price hurdles measured over consecutive trading days.
What stock price hurdles applied to the PWP performance-based units for Andrew Bednar?
The performance-based units required achieving closing stock prices of $15, $20, $25 and $30 (with linear interpolation between levels) for 20 out of 30 consecutive trading days before the fifth anniversary of the grant date.
Were the reported PWP transactions made under a Rule 10b5-1 trading plan?
No. The Form 4 indicates that the Rule 10b5-1 checkbox is not marked, so no Rule 10b5-1 trading plan is reported in connection with these vesting and conversion transactions.
Did Andrew Bednar retain any of the reported performance-based stock units after August 31, 2026?
No. The report shows that 968,964 performance-based units were fully converted into Class A common shares and that no units of this award remained directly held after the transaction.
AI-generated analysis. How Rhea-AI works. Not financial advice.
