Form 4: MMI CFO DeGennaro Reports RSU Vesting, Tax Withholding

Marcus & Millichap CFO Steven F. DeGennaro reported the vesting of restricted stock units and subsequent share dispositions for tax obligations on March 10, 2026.

Summary

• Steven F. DeGennaro, EVP and CFO of Marcus & Millichap, Inc. (MMI), reported multiple transactions on March 10, 2026.
• These transactions involved the settlement of various tranches of Restricted Stock Units (RSUs) into common stock.
• A total of 16,140 shares of common stock were acquired through RSU settlements.
• Concurrently, 6,255 shares of common stock were disposed of to cover tax withholding liabilities at a price of $26.43 per share.
• Following these transactions, DeGennaro's direct beneficial ownership of common stock is 41,090 shares, which includes 361 shares purchased under the Issuer's Employee Stock Purchase Plan.
• Remaining derivative securities (RSUs) beneficially owned include 8,856, 5,008, 6,420, 3,990, and 3,953 units, each with specific vesting schedules extending to 2035.

Sentiment

Score: 6

Explanation: StockSavvy.ai views this as a neutral to slightly positive filing, reflecting routine executive compensation and retention mechanisms, which are generally positive for corporate governance and management alignment.

Positives

• The vesting of Restricted Stock Units (RSUs) indicates continued executive compensation and alignment of management interests with shareholders.
• The transactions are part of a pre-established compensation plan, reflecting stability in executive incentives.
• The inclusion of 361 shares purchased under the Employee Stock Purchase Plan suggests ongoing personal investment by the CFO in the company.

Negatives

• The disposition of shares to cover tax liabilities, while a standard practice, reduces the direct shareholding of the executive.

Future Outlook

The filing primarily details past and current insider transactions related to executive compensation, with future implications limited to the scheduled vesting of remaining Restricted Stock Units.

Industry Context

StockSavvy.ai notes that routine insider transactions like RSU vesting and tax-related share dispositions are common across industries, particularly for executives in publicly traded companies. These transactions reflect standard compensation practices and do not typically indicate a shift in broader industry trends or competitive landscape.

Stakeholder Impact

• Shareholders: Minor, routine dilution from RSU conversion, offset by executive retention and alignment.
• Employees: Reflects standard executive compensation practices, potentially setting a precedent for other equity-based awards.

Next Steps

• Continued vesting of remaining Restricted Stock Units according to their respective schedules (e.g., 8,856 units vesting until 2032, 5,008 units until 2033, 6,420 units until 2034, and 3,990 and 3,953 units until 2035).

Key Dates

Keywords

Marcus & Millichap, MMI, Steven F. DeGennaro, Insider Trading, Form 4, Restricted Stock Units, RSU, Executive Compensation, Stock Vesting, Share Disposition, Tax Withholding, Employee Stock Purchase Plan