Form 4: GCM Grosvenor CFO Reports Changes in Beneficial Ownership Following RSU Vesting and Settlement
SEC Form 4 Filing
Pamela L. Bentley, CFO of GCM Grosvenor Inc., reports changes in beneficial ownership of Class A Common Stock due to the vesting and settlement of Restricted Stock Units (RSUs).
Summary
- On April 15, 2024, Pamela L. Bentley, CFO of GCM Grosvenor Inc., reported changes in her beneficial ownership of the company's Class A Common Stock.
- These changes resulted from the vesting and settlement of Restricted Stock Units (RSUs) granted under the Issuer's Amended and Restated 2020 Incentive Award Plan.
- Specifically, RSUs granted on January 15, 2024, vested in full on April 15, 2024, and were settled on the same day.
- From these RSUs, 1,593 shares were withheld to cover tax obligations, 7,083 RSUs were settled in cash, and 1,947 shares of Class A Common Stock were issued.
- Additionally, RSUs granted on October 2, 2023, vested on March 1, 2024, and were settled on April 15, 2024.
- From these RSUs, 11,340 shares were withheld for taxes, 50,347 RSUs were settled in cash, and 13,823 shares of Class A Common Stock were issued.
- The reported transactions did not involve any open-market sales.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing detailing changes in beneficial ownership due to RSU vesting and settlement, which is neutral in sentiment.
Positives
- The vesting and settlement of RSUs is a standard part of executive compensation packages.
- The company settled a portion of the RSUs in cash, which may reduce dilution for existing shareholders.
Industry Context
This filing is a routine disclosure related to executive compensation and is common for publicly traded companies.
Stakeholder Impact
- Shareholders may experience slight dilution due to the issuance of new shares, although the cash settlement of some RSUs mitigates this effect.
Key Dates
| Date | Description |
|---|---|
| 2023-10-02 | RSUs granted under the Issuer's Amended and Restated 2020 Incentive Award Plan |
| 2024-01-15 | RSUs granted under the Issuer's Amended and Restated 2020 Incentive Award Plan |
| 2024-03-01 | RSUs granted on October 2, 2023, vested in full |
| 2024-04-15 | Date of earliest transaction; RSUs vested and settled; shares withheld for taxes; RSUs settled in cash; shares issued. |
| 2024-04-17 | Date of signature on the SEC Form 4 filing. |
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