Form 4: PWP CFO Converts PSUs, Sells Shares for Tax

Perella Weinberg Partners' Chief Financial Officer converted performance-based stock units into Class A common stock and subsequently sold a portion to cover tax obligations.

Summary

• Perella Weinberg Partners' Chief Financial Officer, a 10% owner, reported transactions involving Class A Common Stock and Performance-Based Stock Units (PSUs).
• On August 31, 2025, 4,000 PSUs vested and were converted into 4,000 shares of Class A Common Stock at a price of $0 per share.
• These PSUs vested upon the achievement of both service-based and performance-based conditions, including specific stock price hurdles.
• Following the conversion, the beneficial ownership of Class A Common Stock increased to 96,767 shares.
• On September 2, 2025, 1,630 shares of Class A Common Stock were disposed of at a price of $22.13 per share.
• This disposition was a deemed sale to the Issuer to satisfy tax withholding obligations related to the vesting of restricted stock units.
• After the disposition, the beneficial ownership of Class A Common Stock was 95,137 shares.
• The reporting person continues to beneficially own 8,000 derivative securities in the form of Performance-Based Stock Units.

Sentiment

Score: 6

Explanation: The sentiment is moderately positive. The vesting of performance-based units indicates the company met its performance targets, which is a positive sign. The subsequent sale is for tax purposes, a routine event that does not reflect a negative outlook from the insider.

Positives

• The vesting of 4,000 performance-based stock units indicates that the company met specific performance conditions, including stock price hurdles of $12, $13.50, $15, and $17.
• The conversion of PSUs into Class A Common Stock at a $0 price represents a gain for the reporting person, reflecting the value created by the company's performance.

Negatives

• A portion of the newly acquired shares (1,630 shares) was immediately sold to cover tax withholding obligations, which is a routine but non-discretionary reduction in direct ownership.

Future Outlook

The vesting of remaining performance-based stock units is contingent on achieving service-based conditions in five equal installments on the 36, 42, 48, 54, and 60-month anniversaries of the grant date, and performance-based conditions tied to specific closing stock price hurdles ($12, $13.50, $15, $17) within six years of the grant date.

Industry Context

This Form 4 filing details a routine insider transaction involving the vesting of equity awards and a subsequent tax-related sale. Such transactions are common across the financial services industry as a component of executive compensation, reflecting the achievement of performance milestones and the management of tax obligations.

Stakeholder Impact

• Shareholders: The transaction represents a routine compensation event for a key executive, reflecting the achievement of performance targets. The sale for tax purposes is not indicative of a change in management's long-term view.
• Employees: The vesting of performance-based units can serve as a positive signal regarding the company's ability to meet its strategic and financial goals, potentially boosting morale.

Next Steps

• Future installments of service-based vesting conditions for remaining PSUs will occur on the 36, 42, 48, 54, and 60-month anniversaries of the grant date.
• Achievement of additional performance-based vesting conditions for remaining PSUs, tied to stock price hurdles, will be monitored prior to the sixth anniversary of the grant date.

Key Dates

Keywords

Perella Weinberg Partners, PWP, Form 4, Insider Transaction, Performance-Based Stock Units, PSUs, Class A Common Stock, Stock Vesting, Tax Withholding, Chief Financial Officer