Form 4: Newmark Group CEO Barry Gosin Sells 795,376 Limited Partnership Interests
SEC Form 4 Filing
Newmark Group's CEO, Barry Gosin, sold 795,376 limited partnership interests back to the company on September 23, 2024.
Summary
- On September 23, 2024, Barry M. Gosin, the CEO of Newmark Group, Inc., sold 795,376 limited partnership interests of Newmark Holdings, L.P. back to the company.
- Gosin had previously received exchange rights for these interests.
- The sale price was $14.19 per interest, calculated by multiplying the closing price of Newmark's Class A common stock ($15.34) by the exchange ratio of 0.9248.
- The transaction was approved by the Compensation Committee of the Board of Directors and was exempt under Rule 16b-3 of the Securities Exchange Act of 1936.
Sentiment
Score: 5
Explanation: The sentiment is neutral as it's a factual report of an insider transaction. There's no inherent positive or negative implication for the company's overall performance.
Industry Context
This transaction is a routine disclosure of insider activity and doesn't necessarily indicate a broader trend in the real estate services industry. It reflects internal decisions regarding equity and compensation.
Stakeholder Impact
- The transaction has a minimal direct impact on stakeholders, as it involves the repurchase of equity from an executive.
Key Dates
| Date | Description |
|---|---|
| 09/23/2024 | Date of the transaction where Newmark Group repurchased limited partnership interests from Barry Gosin. |
| 09/25/2024 | Date of signature on the SEC Form 4 filing. |
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