Silver Lake-linked Unity (U) directors receive 16,176-share award
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
SLTA IV (GP), L.L.C. reported acquisition or exercise transactions in this Form 4 filing.
Unity Software Inc. reported an insider equity award tied to its board. A Form 4 shows a grant of 16,176 shares of Common Stock in the form of restricted stock units to directors Egon Durban and James Whitehurst as compensation.
The RSUs vest in full on the earlier of the first anniversary of the grant date or Unity’s next annual stockholder meeting, subject to continued board service. The securities are held for the benefit of Silver Lake-related entities and funds, with sale proceeds expected to be remitted to those Silver Lake entities and their limited partners. The filing also updates direct and indirect Common Stock holdings across Silver Lake-affiliated entities, without reporting any open-market purchases or sales.
Positive
- None.
Negative
- None.
Insider Trade Summary
6 transactions reported
Mixed
6 txns
Insider
SLTA IV (GP), L.L.C., Silver Lake Partners IV, L.P., Silver Lake Technology Investors IV (Delaware II), L.P., SLP Union Aggregator, L.P., SLP Union GP, L.L.C., Silver Lake Technology Associates IV, L.P., Silver Lake Group, L.L.C., Durban Egon
Role
null | null | null | null | null | null | null | null
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 16,176 | $0.00 | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 80,846 shares (Indirect, See footnote);
Common Stock — 139,874 shares (Direct, null)
Footnotes (1)
- Represents restricted stock units granted to Egon Durban, a director of Unity Software Inc. (the "Issuer") and Co-CEO and a Managing Partner of Silver Lake Group, L.L.C. ("SLG") and James Whitehurst, a director of the Issuer and a Managing Director of SLG. The shares subject to these awards vest in full on the earlier of (i) the first anniversary of the date of grant and (ii) the date of the Issuer's next annual meeting of stockholders, subject to the director's continued service through such date. These securities are held by Mr. Durban and Mr. Whitehurst for the benefit of Silver Lake Technology Management, L.L.C., certain of its affiliates, and certain of the funds they manage ("Silver Lake"). Pursuant to Mr. Durban's and Mr. Whitehurst's arrangement with Silver Lake with respect to director compensation, upon the sale of these securities, the proceeds from such sale(s) are expected to be remitted to Silver Lake and/or its limited partners. Mr. Durban, through his role at Silver Lake and its affiliates, may be deemed to have an indirect interest in the securities reported herein. These securities are directly owned by Silver Lake Partners IV, L.P. ("SLP IV"). These securities are directly owned by SLP Union Aggregator, L.P. ("SLP Union"), the general partner of which is SLP Union GP, L.L.C. ("SLP Union GP"). These securities are directly owned by Silver Lake Technology Investors IV (Delaware II), L.P. ("SLTI IV"). Represents shares of Common Stock held by Mr. Durban. Represents shares of Common Stock beneficially owned indirectly by Mr. Durban through a trust for the benefit of certain family members. Silver Lake Technology Associates IV, L.P. ("SLTA IV") is the general partner of SLP IV and SLTI IV and the managing member of SLP Union GP. The general partner of SLTA IV is SLTA IV (GP), L.L.C. ("SLTA IV GP"), the managing member of which is SLG. Mr. Durban serves as a director of the Issuer and Co-CEO and a Managing Member of SLG. Mr. Whitehurst serves as a director of the Issuer and a Managing Director of SLG. Each of SLP IV, SLTI IV, SLP Union, SLP Union GP, SLTA IV, SLTA IV GP and SLG may be deemed to be a director by deputization of the Issuer.
Key Figures
RSU grant: 16,176 shares
Indirect holdings after award: 80,846 shares
Indirect trust holdings: 4,818 shares
+4 more
7 metrics
RSU grant
16,176 shares
Restricted stock units granted to Unity directors
Indirect holdings after award
80,846 shares
Total shares following RSU-related line item
Indirect trust holdings
4,818 shares
Held indirectly through a family trust
Direct holdings
139,874 shares
Directly held Common Stock
Silver Lake Investors IV holdings
19,943,044 shares
Held through Silver Lake Partners IV, L.P.
SLP Union Aggregator holdings
14,422,668 shares
Held through SLP Union Aggregator, L.P.
Silver Lake Investors IV (Delaware II) holdings
369,692 shares
Held through Silver Lake Technology Investors IV (Delaware II), L.P.
Key Terms
restricted stock units, beneficially owned indirectly, limited partners, director by deputization
4 terms
restricted stock units financial
"Represents restricted stock units granted to Egon Durban, a director of Unity Software Inc."
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
beneficially owned indirectly financial
"Represents shares of Common Stock beneficially owned indirectly by Mr. Durban through a trust for the benefit of certain family members."
limited partners financial
"proceeds from such sale(s) are expected to be remitted to Silver Lake and/or its limited partners."
Limited partners are investors who provide most of the capital to an investment partnership but do not run its day-to-day business; they have liability only up to the amount they invested. Think of them as silent backers who hire a manager to make decisions and share in profits or losses; their importance to investors lies in shaping how much money a fund can deploy, the risk and return profile they receive, and the liquidity and fees associated with that investment.
director by deputization regulatory
"may be deemed to be a director by deputization of the Issuer."
FAQ
What insider transaction did Unity Software (U) disclose in this Form 4?
Unity Software disclosed a grant of 16,176 shares of Common Stock in restricted stock units to directors Egon Durban and James Whitehurst as director compensation. No open-market purchases or sales were reported, only this equity award and updated shareholdings.
How and when do the Unity Software (U) restricted stock units vest?
The restricted stock units vest in full on the earlier of the first anniversary of the grant date or Unity Software’s next annual meeting of stockholders. Vesting is conditioned on the applicable director continuing to serve on the board through the relevant vesting date.
Which Silver Lake entities are associated with the Unity Software (U) holdings?
Holdings are reported for several Silver Lake entities, including Silver Lake Partners IV, L.P., SLP Union Aggregator, L.P., and Silver Lake Technology Investors IV (Delaware II), L.P. Additional related entities act as general partners or managing members over these investment vehicles.