Form 4: AllianceBernstein CEO Seth Bernstein Reports Share Transactions

AllianceBernstein's CEO, Seth Bernstein, executed transactions involving the company's holding units, including a distribution from a rabbi trust and subsequent tax withholding.

Summary

• On December 2, 2024, Seth Bernstein, CEO of AllianceBernstein, received 59,442 AB Holding Units from a rabbi trust as part of an employee incentive compensation plan.
• Of these units, 32,872 were withheld for tax purposes, and 26,570 units were delivered to Mr. Bernstein.
• The transactions were executed at a price of $36.27 per unit, which was the closing price on November 29, 2024.
• Following these transactions, Mr. Bernstein directly owns 283,204 AB Holding Units and indirectly owns 362,858 units through a rabbi trust.

Sentiment

Score: 7

Explanation: The document reflects standard executive compensation practices and is neutral in sentiment. It is a routine filing and does not indicate any positive or negative news.

Industry Context

This is a routine filing related to executive compensation and is typical for publicly traded companies. It reflects the movement of shares as part of an incentive plan.

Comparison to Industry Standards

• Executive compensation packages often include stock or unit awards, which are common across the financial services industry.
• The use of rabbi trusts for deferred compensation is a standard practice to provide tax advantages to executives.
• The reporting of these transactions via SEC Form 4 is a standard regulatory requirement for company insiders.

Stakeholder Impact

• The transactions have a minor impact on shareholders as they reflect the movement of shares within the existing compensation structure.

Key Dates

Keywords

AllianceBernstein, AB Holding Units, Seth Bernstein, executive compensation, rabbi trust, insider trading, SEC Form 4