Form 4: Newmark Group CFO Michael Rispoli Reports Stock Transactions

Michael Rispoli, CFO of Newmark Group, Inc., reports the vesting of restricted stock units and associated tax withholding, along with an additional grant of exchange rights.

Summary

• Michael J. Rispoli, the Chief Financial Officer of Newmark Group, Inc., filed a Form 4 detailing changes in beneficial ownership.
• On October 1, 2024, 14,285 restricted stock units (RSUs) vested and were issuable as Class A Common Stock to Rispoli, pursuant to his 2022 employment agreement.
• The company withheld 7,293 shares of Class A Common Stock for taxes related to the vesting of these RSUs at a price of $15.62.
• Rispoli received 6,992 shares of Class A Common Stock after the withholding.
• Rispoli also received a grant of 4,378 exchange rights with respect to previously awarded units of Newmark Holdings, L.P.
• These Holdings Units are exchangeable into shares of Class A Common Stock at an exchange ratio of 0.9248.
• Following these transactions, Rispoli directly holds 52,801 shares of Class A Common Stock and 31,598 derivative securities.
• Rispoli also holds 457,135 shares of Class A Common Stock of the Company represented by RSUs granted in connection with the 2022 Employment Agreement, divided into tranches of 100,000 RSUs each that vest on a seven-year schedule.
• Rispoli also holds 242,852 shares of Class A Common Stock of the Company represented by RSUs granted in connection with the 2022 Employment Agreement, divided in tranches of 50,000 RSUs each that vest on a seven-year schedule.

Sentiment

Score: 6

Explanation: The document is a routine regulatory filing, indicating standard compensation practices. The sentiment is neutral as it reflects expected transactions.

Positives

• The vesting of RSUs indicates continued employment and alignment of the CFO's interests with the company's performance.
• The grant of exchange rights provides additional flexibility for the CFO in managing his holdings.

Industry Context

Form 4 filings are routine disclosures required by the SEC to provide transparency into the transactions of company insiders. This filing indicates standard compensation practices for executives at Newmark Group.

Stakeholder Impact

• The transactions have a minor impact on shareholders as they involve the vesting of previously granted equity.

Key Dates