[Form 4] P10, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Mel Williams, a director and officer of P10, Inc. (PX), reported the sale of 23,494 shares of Class A common stock on 09/17/2025 at a weighted average price of $12.022 per share. After the sale, the filing shows the Reporting Person directly owns 71,024 shares and indirectly owns 4,085,213 shares through The Mel Williams Irrevocable Trust dated August 12, 2015. The filing notes the Reporting Person is part of a Section 13(d) group that collectively beneficially owns more than 10% of the company and disclaims beneficial ownership except for his pecuniary interest.

Positive

• Clear disclosure of sale date, weighted average sale price ($12.022), and number of shares sold (23,494).
• Detailed ownership breakdown showing direct (71,024) and indirect (4,085,213) holdings and trustee disclosure for the Williams Trust.
• Transparency offer to provide per-trade breakdowns for the reported price range upon request.

Negative

• Reduction in direct ownership by 23,494 shares due to the sale on 09/17/2025.
• Potential market signaling from an insider sale, although the filing does not state any non-routine reason for the transaction.

Insights

Financial Analyst

TL;DR: Director sold a modest number of shares; majority economic exposure remains via an irrevocable trust, so market control is largely unchanged.

The sale of 23,494 shares at a weighted average of $12.022 is a routine insider disposition representing a reduction in direct holdings but not a material divestiture relative to the aggregate indirect position of 4,085,213 shares held by the Williams Trust. The disclosure that the Reporting Person is in a >10% Section 13(d) group is important for control considerations. No derivative transactions or additional compensatory grants are reported.

Corporate Governance Expert

TL;DR: Transaction appears routine and properly disclosed; indirect trust ownership preserves influence despite the small direct sale.

The Form 4 provides clear explanations of ownership form and trustee involvement, including a disclaimer of beneficial ownership beyond pecuniary interest. The filing is timely and includes price range details and an offer to provide per-trade breakdowns on request, which supports transparency. There are no indications of departures, special transfers, or control changes in this filing.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Williams Mel

(Last) (First) (Middle)

C/O P10, INC.

4514 COLE AVENUE, SUITE 1600

(Street)

DALLAS TX 75205

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
P10, Inc. [ PX ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	X	10% Owner
	Officer (give title below)	X	Other (specify below)
			See Remarks

3. Date of Earliest Transaction (Month/Day/Year)
09/17/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock	09/17/2025		S		23,494	D	$12.022(1)	71,024	D(2)
Class A Common Stock								4,085,213	I(3)	By The Mel Williams Irrevocable Trust u/a/d August 12, 2015

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Price reflects the weighted average sale price for the shares, which were sold in multiple transactions at prices that ranged from $12.01 to $12.07. Upon request, the Reporting Person will provide information regarding the number of shares sold at each price within the range to the Issuer, any security holder of the issuer, or the SEC staff.

2. Represents securities of the Issuer owned directly by the Reporting Person.

3. Represents securities of the Issuer owned directly by The Mel Williams Irrevocable Trust u/a/d August 12, 2015 (the "Williams Trust"). Alliance Trust Company, as trustee of the Williams Trust, may be deemed to beneficially own the securities of the Issuer owned directly by the Williams Trust. The Reporting Person disclaims beneficial ownership of the securities of the Issuer reported herein, except to the extent of his pecuniary interest therein, and the filing of this Form 4 shall not be construed as an admission that the Reporting Person is a beneficial owner of the securities of the Issuer reported herein.

Remarks:

This Form is being filed by Mel Williams (the "Reporting Person"). The Reporting Person is a member of a Section 13(d) group that collectively beneficially owns more than 10% of the Issuer's Common Stock. The Reporting Person disclaims beneficial ownership of the securities of the Issuer reported herein, except to the extent of his pecuniary interest therein, and the filing of this Form 4 shall not be construed as an admission that the Reporting Person is a beneficial owner of the securities of the Issuer reported herein.

	By: Dominic Hong, as Attorney-in-Fact for the Reporting Person, /s/ Dominic Hong	09/19/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did Mel Williams report on Form 4 for P10, Inc. (PX)?

He reported selling 23,494 shares of Class A common stock on 09/17/2025 at a weighted average price of $12.022 and disclosed his direct and indirect holdings.

How many P10 (PX) shares does Mel Williams directly and indirectly own after the transaction?

Direct ownership: 71,024 shares; Indirect ownership (via trust): 4,085,213 shares, as reported on the Form 4.

At what price were the PX shares sold by the reporting person?

Weighted average sale price: $12.022 per share, with individual trades ranging from $12.01 to $12.07.

Is the Reporting Person part of a group that owns more than 10% of PX?

Yes. The filing states the Reporting Person is a member of a Section 13(d) group that collectively beneficially owns more than 10% of the issuer's common stock.

Does the Form 4 show any derivative transactions or option exercises by Mel Williams?

No. Table II (derivative securities) contains no reported transactions in this filing.