[Form 4] StepStone Group Inc. Insider Trading Activity

Rhea-AI Filing Summary

David F. Hoffmeister, a director of StepStone Group Inc. (STEP), was granted 3,691 shares of Class A common stock on 09/09/2025 as compensation for board service. These shares were issued pursuant to restricted stock units that vest in full on the earlier of the first anniversary of the grant date or the issuer's next annual meeting of stockholders, provided the reporting person continues to serve.

After the reported grant, Mr. Hoffmeister beneficially owns 13,934 shares directly and has indirect beneficial ownership of 39,536 shares through Sentinel Point Partners Inc. The Form 4 was signed on behalf of Mr. Hoffmeister by an attorney-in-fact on 09/10/2025.

Insights

Corporate Governance Expert

TL;DR: Director received a routine RSU award; ownership disclosure clarifies direct and indirect holdings without indicating governance concerns.

The grant of 3,691 restricted stock units to a director is consistent with common board compensation practices and aligns director incentives with shareholder interests through equity retention and time-based vesting. The filing distinguishes direct ownership (13,934 shares) from indirect holdings (39,536 shares via Sentinel Point Partners Inc.), improving transparency about potential influence. No unusual vesting acceleration, related-party transactions, or departures are reported. Impact on governance is neutral and routine.

Executive Compensation Analyst

TL;DR: The award appears to be standard equity compensation for board service with typical time-based vesting and no exercise price.

The disclosure shows a grant of restricted stock units rather than options, implying straightforward equity exposure upon vesting and no exercise cost to the reporting person. Vesting on the earlier of one year or the next annual meeting is a common retention mechanism. The size of the grant relative to total reported holdings is modest; the filing contains no cash amount or valuation, so compensation expense and dilution effects cannot be quantified from this Form 4 alone.

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
Estimated average burden
hours per response:			0.5

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

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Hoffmeister David F

(Last) (First) (Middle)

C/O STEPSTONE GROUP INC.

277 PARK AVENUE, 45TH FLOOR

(Street)

NEW YORK NY 10172

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
StepStone Group Inc. [ STEP ]

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

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

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

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	09/09/2025		A		3,691(1)	A	(1)	13,934	D
Class A Common Stock								39,536	I	Sentinel Point Partners Inc.

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. Represents the number of shares of Class A Common Stock issued to the Reporting Person pursuant to an award of restricted stock units as compensation for the Reporting Person's service on the Issuer's board of directors. The award vests in full on the earlier of the first anniversary of the grant date or the Issuer's next annual meeting of stockholders, subject to the Reporting Person's continued service to the Issuer.

Remarks:

	/s/ Jennifer Ishiguro, Attorney-in-fact for David F. Hoffmeister	09/10/2025
	** 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 David F. Hoffmeister report in the Form 4 for STEP?

The filing reports a grant of 3,691 Class A shares (restricted stock units) on 09/09/2025 as board compensation.

How many StepStone Group (STEP) shares does Hoffmeister beneficially own after the grant?

Following the transaction, he beneficially owns 13,934 shares directly and 39,536 shares indirectly through Sentinel Point Partners Inc.

When do the restricted stock units vest?

The award vests in full on the earlier of the first anniversary of the grant date or the issuer's next annual meeting of stockholders, subject to continued service.

Was there a purchase price reported for the awarded securities?

No purchase or exercise price is reported; the award was issued as restricted stock units for compensation.

Who filed the Form 4 and when was it signed?

The Form 4 was signed on behalf of David F. Hoffmeister by an attorney-in-fact (Jennifer Ishiguro) on 09/10/2025.