Form 4: STEP Co-COO reports 10b5-1 sales; Class A 11,676 direct
Rhea-AI Filing Summary
StepStone Group (STEP): Form 4 insider transaction — Co‑Chief Operating Officer and Director Jose A. Fernandez reported Rule 10b5‑1 plan sales of Class A common stock across 11/11–11/13/2025. Disclosed sales include 70,204 shares at a weighted average price of $61.41 on 11/11/2025, 57,798 shares at $62.70 on 11/12/2025, and 55,444 shares at $62.18 on 11/13/2025, with additional smaller tranches at prices noted in the filing.
Following the transactions, beneficial ownership shows Class A: 0 shares indirect by Trust and 11,676 shares direct. Class B: 3,216,601 shares indirect by Trust and 1,605,500 shares indirect by Santaluz Capital Partners, LLC.
Positive
- None.
Negative
- None.
Insights
Routine insider sales under a 10b5‑1 plan; neutral impact.
The filing lists pre‑planned sales by a senior insider executed under a Rule 10b5‑1 trading plan, indicating transactions were scheduled in advance. Reported trades span three days with weighted average prices between roughly $61 and $63, consistent with market‑driven execution.
Post‑trade holdings remain significant in Class B shares (as disclosed), while Class A indirect holdings by Trust moved to zero and a direct Class A balance remains. Actual market impact depends on liquidity and future filings; the document does not state any strategic shift.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Class A Common Stock | 55,444 | $62.18 | $3.45M |
| Sale | Class A Common Stock | 14,958 | $62.75 | $939K |
| Sale | Class A Common Stock | 6,586 | $61.73 | $407K |
| Sale | Class A Common Stock | 57,798 | $62.70 | $3.62M |
| Sale | Class A Common Stock | 6,020 | $63.17 | $380K |
| Sale | Class A Common Stock | 70,204 | $61.41 | $4.31M |
| Sale | Class A Common Stock | 200 | $62.07 | $12K |
| holding | Class A Common Stock | -- | -- | -- |
| holding | Class B Common Stock | -- | -- | -- |
| holding | Class B Common Stock | -- | -- | -- |
Footnotes (1)
- This transaction was executed pursuant to a Rule 10b5-1 trading plan in multiple trades at prices ranging from $60.97 to $61.96. The price reported above reflects the weighted average sales price. The reporting person hereby undertakes to provide upon request to the SEC staff, the Issuer or a security holder of the Issuer full information regarding the number of shares and prices at which the transaction was effected. This transaction was executed pursuant to a Rule 10b5-1 trading plan at a price of $62.07. The reporting person hereby undertakes to provide upon request to the SEC staff, the Issuer or a security holder of the Issuer full information regarding the number of shares and prices at which the transaction was effected. This transaction was executed pursuant to a Rule 10b5-1 trading plan in multiple trades at prices ranging from $61.02 to $62.01. The price reported above reflects the weighted average sales price. The reporting person hereby undertakes to provide upon request to the SEC staff, the Issuer or a security holder of the Issuer full information regarding the number of shares and prices at which the transaction was effected. This transaction was executed pursuant to a Rule 10b5-1 trading plan in multiple trades at prices ranging from $62.02 to $63.01. The price reported above reflects the weighted average sales price. The reporting person hereby undertakes to provide upon request to the SEC staff, the Issuer or a security holder of the Issuer full information regarding the number of shares and prices at which the transaction was effected. This transaction was executed pursuant to a Rule 10b5-1 trading plan in multiple trades at prices ranging from $63.02 to $63.39. The price reported above reflects the weighted average sales price. The reporting person hereby undertakes to provide upon request to the SEC staff, the Issuer or a security holder of the Issuer full information regarding the number of shares and prices at which the transaction was effected. This transaction was executed pursuant to a Rule 10b5-1 trading plan in multiple trades at prices ranging from $61.55 to $62.54. The price reported above reflects the weighted average sales price. The reporting person hereby undertakes to provide upon request to the SEC staff, the Issuer or a security holder of the Issuer full information regarding the number of shares and prices at which the transaction was effected. This transaction was executed pursuant to a Rule 10b5-1 trading plan in multiple trades at prices ranging from $62.55 to $63.18. The price reported above reflects the weighted average sales price. The reporting person hereby undertakes to provide upon request to the SEC staff, the Issuer or a security holder of the Issuer full information regarding the number of shares and prices at which the transaction was effected.
