Form 4: AllianceBernstein Executive Acquires 11,467 Holding Units as Part of Incentive Compensation

AllianceBernstein's General Counsel and Corporate Secretary, Mark R. Manley, acquired 11,467 AB Holding Units as part of his 2024 long-term incentive compensation award.

Summary

• Mark R. Manley, General Counsel & Corporate Secretary at AllianceBernstein, acquired 11,467 AB Holding Units on December 11, 2024.
• These units were granted as part of his 2024 long-term incentive compensation award.
• The award was approved by the Section 16 Subcommittee of the Board of Directors.
• The units are held in a rabbi trust under AllianceBernstein's incentive compensation award program.
• The units will vest in equal annual increments on December 1, 2025, 2026, and 2027.
• The price of an AB Holding Unit was $36.19 on December 11, 2024, the date the award was approved and valued.

Sentiment

Score: 7

Explanation: The document reflects a standard executive compensation practice, which is generally viewed positively as it aligns management with shareholder interests. There are no negative implications.

Positives

• The incentive compensation award aligns the executive's interests with the long-term performance of the company.
• The vesting schedule encourages continued service and performance by the executive.

Future Outlook

The AB Holding Units will vest in equal annual increments on December 1, 2025, 2026, and 2027, subject to the terms of the award agreement.

Industry Context

This type of incentive compensation is common in the financial services industry to align executive interests with shareholder value and long-term company performance.

Comparison to Industry Standards

• Many financial firms use equity-based compensation, such as restricted stock units or partnership units, to incentivize executives.
• The vesting schedule of three years is a typical timeframe for long-term incentive awards in the industry.
• The use of a rabbi trust is a common method for holding deferred compensation until vesting.

Stakeholder Impact

• Shareholders may view this as a positive sign of aligning executive interests with long-term company performance.
• Employees may see this as a standard practice for executive compensation.

Next Steps

• The executive will receive the first tranche of vested units on December 1, 2025.
• The remaining units will vest on December 1, 2026 and December 1, 2027.

Key Dates

Keywords

AllianceBernstein, AB Holding Units, Incentive Compensation, Executive Compensation, Rabbi Trust, Vesting, Form 4, SEC Filing