Form 4: Neuberger Berman Group Sells 4.1 Million Getty Images Shares

Neuberger Berman Group LLC sold 4.1 million shares of Getty Images Class A common stock at $2.46 per share, reducing its indirect holdings.

Summary

• Neuberger Berman Group LLC, along with its subsidiaries, reported the sale of 4,100,000 shares of Getty Images Class A common stock.
• The shares were sold at a price of $2.46 per share on November 20, 2024.
• The transaction reduced Neuberger Berman's indirect beneficial ownership to 74,175,262 shares.
• The shares are held by Neuberger Berman Opportunistic Capital Solutions Master Fund LP, for which Neuberger Berman Investment Advisers LLC acts as investment advisor.
• An additional 14,324,800 shares previously held by CC Neuberger Principal Holdings II Sponsor LLC were transferred to the Master Fund.

Sentiment

Score: 4

Explanation: The sentiment is slightly negative due to the sale of a large block of shares by a major holder, which could indicate a lack of confidence or a strategic shift away from the company.

Negatives

• Neuberger Berman reduced its stake in Getty Images by selling 4.1 million shares.

Risks

• The sale of a significant number of shares by a major holder could potentially put downward pressure on the stock price.

Management Comments

• Neuberger Berman Investment Advisers LLC serves as investment adviser to Neuberger Berman Opportunistic Capital Solutions Master Fund LP and exercises voting and/or investment power over the shares held directly by Master Fund.
• Each of the Reporting Persons disclaim beneficial ownership of the securities held by Master Fund except to the extent of its pecuniary interest therein.

Industry Context

This transaction reflects a change in the holdings of a major institutional investor in Getty Images, which could be part of a broader portfolio rebalancing or a strategic decision regarding their investment in the company. It is not uncommon for large investment firms to adjust their positions in publicly traded companies.

Comparison to Industry Standards

• It is common for large institutional investors like Neuberger Berman to adjust their holdings in publicly traded companies.
• The sale of 4.1 million shares is a significant transaction, but it is not unusual for a 10% owner to reduce their position.
• Other large institutional investors in the media and content space, such as BlackRock or Vanguard, also regularly adjust their holdings based on their investment strategies.

Stakeholder Impact

• The sale of shares could negatively impact shareholder confidence and potentially lead to a decrease in the stock price.
• The transaction may not have a direct impact on employees, customers, or suppliers.

Key Dates

Keywords

Getty Images, Neuberger Berman, Share Sale, Class A Common Stock, Beneficial Ownership, Investment Advisor