Form 4: Affiliated Managers Group CEO Jay Horgen Reports Significant Stock Transactions

Affiliated Managers Group, Inc. CEO and Director Jay C. Horgen reported the exercise of stock options, a tax-related sale of shares, and a transfer of shares to a family trust, all pursuant to a pre-planned trading arrangement.

Summary

• Jay C. Horgen, CEO and Director of Affiliated Managers Group, Inc. (AMG), reported multiple transactions involving the company's common stock.
• On July 1, 2025, Horgen exercised employee stock options to acquire 75,000 shares of common stock at an exercise price of $74.49 per share.
• Concurrently on July 1, 2025, 47,191 shares were disposed of at a price of $198.72 per share, likely to cover tax liabilities or the exercise price related to the option exercise.
• Following these transactions, Horgen's direct beneficial ownership of common stock was 468,929 shares.
• On July 2, 2025, Horgen transferred 14,000 shares of common stock to a family trust for which he and his spouse are trustees and family members are beneficiaries, with a transaction price of $0.
• After the trust transfer, Horgen's direct beneficial ownership decreased to 454,929 shares, while indirect beneficial ownership through family trusts increased to 34,058 shares.
• The employee stock options exercised had an exercise price of $74.49, became exercisable on August 15, 2024, and are set to expire on August 15, 2026.
• All reported transactions were made pursuant to a Rule 10b5-1(c) plan, indicating a pre-arranged trading schedule.

Sentiment

Score: 6

Explanation: The sentiment is neutral to slightly positive. The exercise of options indicates the executive is realizing value from their compensation, which is generally a positive sign. The subsequent sale for tax purposes and transfer to a family trust are routine and expected actions for executives.

Positives

• The exercise of 75,000 employee stock options by the CEO indicates a realization of value from his compensation package and a potential long-term commitment to the company.
• The exercise price of $74.49 is significantly lower than the market price at which shares were disposed ($198.72), indicating a profitable transaction for the executive.

Negatives

• The disposal of 47,191 shares, while likely for tax purposes, represents a reduction in direct ownership by the CEO.

Future Outlook

The document does not contain any forward-looking statements or guidance.

Industry Context

This Form 4 filing details routine insider stock transactions by a senior executive, which is common across all industries for compensation and estate planning purposes. It does not provide specific insights into broader industry trends or competitive dynamics.

Related Party Transactions

• Jay C. Horgen transferred 14,000 shares of common stock to a family trust, of which he and his spouse are trustees, and for which he and members of his immediate family are beneficiaries. This constitutes a related party transaction.

Stakeholder Impact

• Shareholders may view the exercise of options as a positive sign of management's confidence and realization of value from their compensation.
• The tax-related sale and trust transfer are routine for executives and are unlikely to have a significant direct impact on employees, customers, suppliers, or creditors.

Key Dates

Keywords

SEC Form 4, Insider Trading, Stock Options, CEO Stock Transactions, Affiliated Managers Group, AMG, Beneficial Ownership, Rule 10b5-1 Plan