Form 4: AllianceBernstein Executive Simeone Receives 13,420 Restricted Units

Thomas Simeone, Chief Accounting Officer of AllianceBernstein, was granted 13,420 restricted AB Holding Units on December 20, 2024, which will vest on December 1, 2027.

Summary

• Thomas Simeone, Chief Accounting Officer of AllianceBernstein Holding L.P., received a restricted stock unit (RSU) award on December 20, 2024.
• The award consists of 13,420 AB Holding Units.
• The number of units was determined by dividing the dollar amount of the RSU Award by $37.26, the closing price of an AB Holding Unit on December 20, 2024.
• The units will cliff vest on December 1, 2027, at which point the units (less withholdings) will be delivered to Simeone, subject to the terms of the award agreement.
• Following the transaction, Simeone beneficially owns 19,175 AB Holding Units indirectly through a rabbi trust under an employee incentive compensation award program.

Sentiment

Score: 7

Explanation: The document reflects a standard executive compensation practice, indicating stability and alignment of interests. It's a neutral to slightly positive event.

Positives

• The RSU award aligns the executive's interests with those of the company's shareholders.
• The vesting schedule encourages long-term commitment from the executive.

Future Outlook

The award will cliff vest, and all 13,420 AB Holding Units awarded (less an appropriate number of AB Holding Units to satisfy applicable withholdings), will be delivered to the Reporting Person on December 1, 2027 (subject to terms and conditions set forth in the Award agreement).

Industry Context

This type of equity-based compensation is common in the asset management industry to incentivize executives and align their interests with those of shareholders.

Comparison to Industry Standards

• Equity compensation is a standard practice 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 RSU awards in the financial services sector.
• The size of the award would be benchmarked against similar roles and responsibilities at peer firms.

Stakeholder Impact

• Shareholders may view the RSU award positively as it incentivizes the executive to improve company performance.
• Employees may see the award as a sign of the company's commitment to its leadership.

Key Dates