Form 4: Thomas H. Lee Advisors, LLC Reports Changes in Beneficial Ownership of Dun & Bradstreet Holdings, Inc.

Thomas H. Lee Advisors, LLC and affiliated entities report changes in beneficial ownership of Dun & Bradstreet Holdings, Inc. due to restricted stock grants and vesting of RSUs.

Summary

• Thomas H. Lee Advisors, LLC, along with several affiliated entities and individuals, filed a Form 4 detailing changes in their beneficial ownership of Dun & Bradstreet Holdings, Inc. (DNB).
• The reported transactions include the grant of restricted common stock to Thomas M. Hagerty and Gnaneshwar B. Rao, who serve on Dun & Bradstreet's board of directors.
• These restricted stock grants vest 100% on the first anniversary of the grant date.
• The filing also reflects the vesting and transfer of 22,106 RSUs to THL Managers VIII from each of Mr. Hagerty and Mr. Rao.
• The THL Funds collectively hold a significant number of Dun & Bradstreet shares, with individual holdings distributed among various entities such as THL Equity VIII, Parallel Fund VIII, and others.
• The filing is split into two parts due to the SEC's limit of 10 reporting persons per form, with Thomas H. Lee Advisors, LLC acting as the designated filer for both.

Sentiment

Score: 6

Explanation: The document is a routine regulatory filing, so the sentiment is neutral. The grants to directors are a positive sign of alignment, but overall, it's an informational document.

Positives

• The grant of restricted stock to directors Hagerty and Rao aligns their interests with the company's performance.
• The vesting of RSUs and their transfer to THL Managers VIII could indicate a long-term commitment from key personnel.

Future Outlook

The document does not contain explicit forward-looking statements, but the vesting of restricted stock suggests a multi-year alignment of interests between the directors and the company.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the ownership stakes of insiders and major shareholders. The filing indicates the ongoing involvement of Thomas H. Lee Partners with Dun & Bradstreet.

Comparison to Industry Standards

• Form 4 filings are standard practice for publicly traded companies, ensuring transparency regarding insider transactions.
• The vesting schedules and equity grants are typical compensation components for board members in similar publicly traded companies.
• Comparing the size of THL's stake in DNB to other private equity firms' holdings in portfolio companies would provide a benchmark for assessing their level of involvement.

Stakeholder Impact

• Shareholders are informed about changes in ownership by major stakeholders.
• The grants to directors could be viewed positively as aligning their interests with shareholder value.

Key Dates