PX Insider Report: Conversions Increase Class A-Equivalent Holdings to ~2.11M
Rhea-AI Filing Summary
Thomas P. Danis, Jr. Revocable Living Trust reported transactions in P10, Inc. (PX) securities. On 08/14/2025 the trust sold 22,698 Class A shares at $12.6161 per share. On 08/16/2025 the reporting person converted or received 17,700 Class B shares into Class A shares, and on 08/19/2025 an additional 4,000 Class B shares were converted or received into Class A shares, resulting in reported beneficial ownership of 2,113,270 Class A-equivalent shares after the 08/16 transaction and 2,109,270 Class A-equivalent shares after the 08/19 transaction. The filing notes transfers to the reporting person’s ex-spouse pursuant to a domestic relations order and indicates some shares are held through an LLC controlled by Mr. Danis. The form may indicate the reporting person is part of a group owning over 10% of the company.
Positive
- Timely and detailed disclosure of insider transactions, including sale prices and conversion activity
- Conversion mechanics of Class B to Class A are documented, clarifying share class equivalence for investors
Negative
- Insider sale of 22,698 Class A shares on 08/14/2025 at $12.6161
- Transfers pursuant to a domestic relations order reduced holdings previously reported and may complicate ownership clarity
Insights
TL;DR: Insider reported a small open-market sale and conversions of Class B to Class A, with remaining beneficial ownership above 2.1M shares.
The 08/14/2025 sale of 22,698 Class A shares at $12.6161 appears to be a routine disposition rather than a large, unexpected divestiture relative to the roughly 2.1 million Class A-equivalent shares reported post-transactions. Conversions of Class B into Class A on 08/16 and 08/19 increased the reported Class A-equivalent share count while maintaining indirect holdings via an LLC and a revocable trust. The filing discloses transfers under a domestic relations order, which help explain changes in holdings. From an investor-materiality perspective, the transactions are transparent but not clearly material to company control.
TL;DR: Disclosure is timely and notes governance-relevant details like a domestic relations order and possible Section 13(d) group membership.
The Form 4 provides important governance context: shares held through an LLC and a trust, transfers pursuant to a domestic relations order, and a remark that the reporting person may be part of a Section 13(d) group exceeding 10% ownership. Those elements are relevant for assessing voting control and potential future filings. No explicit change to board composition or control is reported here; the filing documents individual trading and ownership structure rather than corporate action.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Conversion | Class B Common Stock | 4,000 | $0.00 | -- |
| Conversion | Class A Common Stock | 4,000 | $0.00 | -- |
| Conversion | Class B Common Stock | 17,700 | $0.00 | -- |
| Conversion | Class A Common Stock | 17,700 | $0.00 | -- |
| Sale | Class A Common Stock | 22,698 | $12.6161 | $286K |
Footnotes (1)
- Reflects shares held and sold by a limited liability company owned and controlled by Thomas P. Danis, Jr., who is the trustee of the Thomas P. Danis, Jr. Revocable Living Trust. Since the date of the reporting person's last ownership report, shares of Class A common stock and Class B common stock were transferred to Mr. Danis' ex-spouse pursuant to a domestic relations order. Holders of Class B Common Stock may elect to convert such shares on a one-for-one basis into Class A common stock at any time. Upon the occurrence of an event constituting a Sunset (as defined in the Issuer's Amended and Restated Certificate of Incorporation), each share of Class B common stock will automatically convert into Class A common stock. Includes Class B common stock held through a limited liability company owned and controlled by Thomas P. Danis, Jr.
