Director Robert K. Steel logs RSU grant, tax-share disposal at Perella Weinberg (PWP)
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Perella Weinberg Partners director Robert K. Steel reported equity compensation activity involving Class A Common Stock. On February 13, he acquired 96,089 shares through a grant of restricted stock units at $0.00 per share, which will vest in three equal annual installments based on continued service. On February 18, 16,824 shares were deemed disposed at $20.79 per share to cover tax withholding obligations triggered by RSU vesting, rather than an open-market sale. After these transactions, Steel directly held 178,037 Class A shares.
Positive
- None.
Negative
- None.
Insider Trade Summary
2 transactions reported
Mixed
2 txns
Insider
STEEL ROBERT K
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Tax Withholding | Class A Common Stock | 16,824 | $20.79 | $350K |
| Grant/Award | Class A Common Stock | 96,089 | $0.00 | -- |
Holdings After Transaction:
Class A Common Stock — 178,037 shares (Direct)
Footnotes (1)
- Represents a grant of restricted stock units, which will vest based on the achievement of service-based vesting conditions that are satisfied in three equal installments on the first, second and third anniversaries of the grant date. 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.
FAQ
What insider transactions did PWP director Robert K. Steel report on this Form 4?
Robert K. Steel reported a restricted stock unit award and a tax-related share disposition. He received 96,089 Class A shares as an equity grant, then 16,824 shares were withheld and returned to the issuer to satisfy tax obligations tied to RSU vesting.
Was the PWP Form 4 transaction by Robert K. Steel an open-market stock sale?
No, the disposition was not an open-market sale. The 16,824 Class A shares were deemed disposed back to Perella Weinberg Partners to cover tax withholding obligations arising from vesting restricted stock units, as described in the filing’s footnote F2.
What equity award did Robert K. Steel receive from Perella Weinberg Partners (PWP)?
He received a grant of 96,089 restricted stock units of Class A Common Stock. According to footnote F1, the RSUs vest in three equal installments on the first, second, and third anniversaries of the grant date, subject to service-based vesting conditions.
What do the transaction codes A and F mean in Robert K. Steel’s PWP Form 4?
Code A indicates a grant, award, or other acquisition of securities, here a restricted stock unit award. Code F indicates a disposition of shares to satisfy the exercise price or tax withholding obligations, in this case shares returned to the issuer for RSU-related tax withholding.
How do the vesting terms affect Robert K. Steel’s PWP restricted stock units?
The restricted stock units vest in three equal installments over three years. Vesting occurs on the first, second, and third anniversaries of the grant date, conditioned on meeting service-based vesting requirements, aligning the director’s compensation with multi-year company service.