Perella Weinberg director vests 30K PSUs
A Perella Weinberg Partners director had 30,000 performance-based units vest, with over half the resulting shares withheld for taxes.
Rhea-AI Filing Summary
Perella Weinberg Partners (PWP) director Robert K. Steel reported the vesting and settlement of performance-based stock units on August 31, 2026. He exercised 30,000 PSUs, receiving an equivalent 30,000 shares of Class A common stock, and had 15,298 shares withheld to cover tax obligations. The PSUs vested after both service-based conditions and stock price performance hurdles, with no Rule 10b5-1 trading plan reported.
Positive
- None.
Negative
- None.
Insider Trade Summary
30,000 shares exercised/converted
Exercise
3 txns
Insider
STEEL ROBERT K
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Performance-Based Stock Units F2, F3, F4 | 30,000 | $0.00 | $0.00 |
| Exercise | Class A Common Stock | 30,000 | $0.00 | $0.00 |
| Tax Withholding | Class A Common Stock F1 | 15,298 | $16.98 | $260K |
Holdings After Transaction:
Performance-Based Stock Units — 0 contracts (Direct);
Class A Common Stock — 302,624 shares (Direct)
Footnotes (4)
- F1. Represents deemed disposition of shares of Class A common stock to the Issuer to satisfy tax withholding obligations in connection with the vesting of restricted stock units.
- F2. Each performance-based restricted stock unit ("PSU") represents a contingent right to receive one share of Class A common stock.
- F3. 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 five equal installments on the 36, 42, 48, 54 and 60 month anniversaries of the grant date and (ii) performance-based vesting conditions that are satisfied upon the achievement of closing stock price hurdles for 20 out of any 30 consecutive trading days equal to $12, $13.50, $15 and $17, in each case prior to the sixth anniversary of the grant date.
- F4. These PSUs vested on August 31, 2026, upon the achievement of certain service-based and performance-based vesting conditions.
Key Figures
Performance-based stock units exercised: 30,000 units
Class A shares received from PSU conversion: 30,000 shares
Shares withheld for taxes: 15,298 shares
+2 more
5 metrics
Performance-based stock units exercised
30,000 units
PSUs converted into Class A common stock on August 31, 2026
Class A shares received from PSU conversion
30,000 shares
Shares acquired upon exercise of PSUs on August 31, 2026
Shares withheld for taxes
15,298 shares
Deemed disposition to issuer to satisfy tax withholding obligations
Tax withholding reference price
$16.98 per share
Price used for 15,298-share tax-withholding disposition
Stock price performance hurdles
$12, $13.50, $15, $17
Closing price targets required for PSU performance vesting
Key Terms
performance-based restricted stock unit, restricted stock units, tax withholding obligations, closing stock price hurdles
4 terms
performance-based restricted stock unit financial
"Each performance-based restricted stock unit ("PSU") represents a contingent right"
A performance-based restricted stock unit is a promise of company shares given to an employee that only becomes actual stock if specific performance targets are met and any required time at the company is completed. For investors, these awards matter because they can dilute existing shares when earned and signal management’s confidence or the company’s expected future performance, much like a bonus cheque that only clears when pre-set goals are reached.
restricted stock units financial
"in connection with the vesting of restricted stock units"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
tax withholding obligations financial
"to satisfy tax withholding obligations in connection with the vesting"
closing stock price hurdles financial
"performance-based vesting conditions that are satisfied upon the achievement of closing stock price hurdles"
FAQ
What insider transaction did PWP director Robert K. Steel report on August 31, 2026?
He reported the vesting and settlement of 30,000 performance-based stock units into 30,000 Class A shares, with a portion of the shares withheld to satisfy tax withholding obligations.
Did Robert K. Steel’s PWP Form 4 involve an open-market sale or purchase?
No. The filing reports no open-market sales or purchases. It shows a derivative exercise of 30,000 PSUs into common shares and a tax-withholding disposition of 15,298 shares to the issuer.
What are the vesting conditions for the PWP performance-based stock units reported by Robert K. Steel?
Each PSU converts into one Class A share and vests based on service conditions over five installments and stock price hurdles of $12, $13.50, $15, and $17 achieved for 20 out of 30 consecutive trading days before the sixth anniversary of the grant.
Was a Rule 10b5-1 trading plan used for Robert K. Steel’s PWP transactions?
No. The Form 4 indicates no Rule 10b5-1 trading plan for these transactions; they relate to PSU vesting and associated tax withholding.
AI-generated analysis. How Rhea-AI works. Not financial advice.
