Form 4: Equitable Holdings Executive Seth Bernstein Reports Changes in Beneficial Ownership

Seth Bernstein, Head of Asset Management at Equitable Holdings, reports transactions involving common stock and performance shares, including shares withheld for tax obligations.

Summary

• On February 28, 2025, Seth Bernstein, Head of Asset Management at Equitable Holdings, reported changes in beneficial ownership of the company's stock.
• These changes include the withholding of 4,906 shares of common stock to cover taxes upon the vesting of previous Restricted Stock Unit grants at a price of $55.02.
• Additionally, 25,549 Performance Shares vested, granted under the 2019 Omnibus Incentive Plan, based on performance objectives achieved between January 1, 2022, and December 31, 2024.
• A further 14,129 shares were withheld to cover taxes upon the vesting of these Performance Shares at a price of $55.02.
• Following these transactions, Bernstein directly owns 103,095.38 shares of common stock, which includes Restricted Stock Units.

Sentiment

Score: 6

Explanation: The sentiment is neutral as the filing primarily reports routine transactions related to stock vesting and tax obligations. The vesting of performance shares suggests positive performance, but the filing itself is simply a procedural disclosure.

Positives

• The vesting of Performance Shares indicates that the company met certain performance objectives during the period from January 1, 2022, to December 31, 2024.

Industry Context

This filing is a routine disclosure of insider transactions, which are common in publicly traded companies. It provides transparency into the actions of company executives and their holdings in the company's stock.

Comparison to Industry Standards

• Form 4 filings are standard practice for publicly traded companies and their executives, ensuring compliance with SEC regulations.
• The vesting of performance shares is a common incentive mechanism used by companies like Equitable Holdings to align executive compensation with company performance, similar to practices at companies like BlackRock or Prudential.

Stakeholder Impact

• Shareholders are informed about changes in beneficial ownership by a key executive.
• The vesting of performance shares may signal to stakeholders that the company has achieved certain performance goals.

Key Dates