Form 4: AllianceBernstein Director Kaye Acquires 4,992 AB Holding Units

Director Daniel G. Kaye acquired 4,992 restricted AB Holding Units at a price of $34.06 per unit on May 22, 2024, as part of a grant from the AllianceBernstein Corporation Board of Directors.

Summary

• On May 22, 2024, Daniel G. Kaye, a director of AllianceBernstein Holding L.P., acquired 4,992 restricted AB Holding Units.
• The acquisition was a grant from the Board of Directors of AllianceBernstein Corporation, the general partner of AB Holding.
• Each unit was priced at $34.06, which was the closing price of an AB Holding Unit on the NYSE on the grant date.
• The AB Holding Units will vest in equal 33% increments on May 1 of 2025, 2026, and 2027.
• Following the transaction, Kaye directly owns 44,702 AB Holding Units.

Sentiment

Score: 7

Explanation: The sentiment is neutral to positive as it reflects a director increasing their stake in the company, which is generally seen as a good sign. The vesting schedule also suggests a long-term commitment.

Positives

• The acquisition of units by a director signals confidence in the company's future performance.

Future Outlook

The AB Holding Units will vest in equal 33% increments on May 1, 2025, 2026 and 2027.

Industry Context

This filing is a routine disclosure of a director's acquisition of company units, which is common in the financial services industry as part of executive compensation packages.

Comparison to Industry Standards

• Similar grants of restricted stock units (RSUs) are common among publicly traded asset management firms such as BlackRock, Franklin Resources, and T. Rowe Price.
• The vesting schedule of three years is also typical for such grants, aligning executive incentives with long-term company performance.

Stakeholder Impact

• The acquisition of shares by a director can positively influence shareholder sentiment.

Key Dates