Form 4: MMI CEO Gifts Shares Under 10b5-1 Plan

Marcus & Millichap CEO Hessam Nadji gifted 2,450 shares of common stock, reducing his direct beneficial ownership to 273,049 shares.

Summary

• Hessam Nadji, Chief Executive Officer and Director of Marcus & Millichap, Inc. (MMI), reported the disposition of 2,450 shares of common stock.
• The transaction, identified as a gift (Transaction Code 'G'), occurred on December 5, 2025, with a price of $0 per share.
• This transaction was executed pursuant to a Rule 10b5-1(c) plan, indicating a pre-arranged disposition strategy.
• Following this reported transaction, Mr. Nadji directly beneficially owns 273,049 shares of Marcus & Millichap, Inc. common stock.

Sentiment

Score: 5

Explanation: A gift transaction by a CEO is generally neutral for the company's operational or financial outlook. It represents a change in personal ownership structure rather than a direct statement on company performance or future prospects. The 10b5-1 plan indicates a pre-planned action.

Positives

• The transaction was made pursuant to a Rule 10b5-1 plan, which suggests a pre-scheduled and non-discretionary disposition, often used by insiders for estate planning or diversification.

Negatives

• A reduction in direct beneficial ownership by a key executive, even through a gift, could be perceived as a slight negative by some investors, as it decreases the executive's direct stake in the company.

Future Outlook

NA

Industry Context

NA

Stakeholder Impact

• Shareholders: The direct beneficial ownership of the CEO has decreased by 2,450 shares. This is a minor change and is unlikely to have a significant impact on the company's overall valuation or shareholder confidence.

Key Dates

Keywords

Marcus & Millichap, MMI, Hessam Nadji, Insider Transaction, Form 4, CEO, Stock Gift, 10b5-1 Plan, Common Stock