Form 4: T. Rowe Price VP Sebastien Page Receives RSU Grant

T. Rowe Price Vice President Sebastien Page was granted 10,234 restricted stock units, vesting in annual installments starting December 2026.

Summary

• Sebastien Page, Vice President of T. Rowe Price Group Inc. (TROW), acquired 10,234 shares of common stock.
• The acquisition, dated December 3, 2025, was a restricted stock unit (RSU) award with a transaction price of $0.00 per share.
• Following this transaction, Page's direct beneficial ownership stands at 74,609 shares.
• The RSU award is scheduled to vest in three annual installments, with the first vesting date on December 10, 2026.
• A separate, previously disclosed performance-based award from the Company's 2019 Proxy Statement, if earned, would vest in two annual installments beginning December 10, 2029.

Sentiment

Score: 7

Explanation: The grant of restricted stock units to a key executive is generally viewed positively as it aligns management's long-term interests with those of shareholders and serves as a retention tool. It is a routine compensation event, not indicative of immediate operational or financial changes.

Positives

• The grant of 10,234 restricted stock units to a Vice President indicates continued alignment of management incentives with shareholder interests.
• The multi-year vesting schedule promotes long-term executive retention and encourages focus on sustained company performance.

Negatives

• There is no immediate cash benefit from the grant as it is an RSU award with future vesting conditions.
• The value of the award is contingent on the future stock price of T. Rowe Price Group Inc.

Risks

• The future value of the restricted stock unit award is directly dependent on the market performance of T. Rowe Price Group Inc. common stock.
• Vesting of the awards is contingent on the reporting person's continued employment through the specified vesting dates.
• The previously disclosed performance-based award is subject to specific performance criteria being met before vesting.

Future Outlook

The restricted stock units are structured to vest over several years, aligning the executive's future compensation with the long-term performance of T. Rowe Price Group Inc. The vesting schedule extends to at least December 2026 for the time-based award and potentially December 2029 for the performance-based award, indicating a long-term incentive strategy.

Industry Context

Executive equity grants, particularly restricted stock units with multi-year vesting, are a common practice in the asset management industry. This compensation structure is widely adopted by firms to attract, retain, and incentivize key personnel, linking executive performance directly to shareholder value over the long term.

Comparison to Industry Standards

• The use of restricted stock units (RSUs) with multi-year vesting schedules is a standard practice in the financial services and asset management industry for executive compensation, comparable to practices at major competitors like BlackRock or Vanguard.
• The grant of equity to a Vice President is consistent with typical compensation strategies designed to align executive interests with long-term company performance and shareholder returns.

Stakeholder Impact

• Shareholders: Potential positive impact through increased alignment of executive incentives with long-term company performance. Minor potential for dilution upon future share issuance from vesting.
• Employees: Standard executive compensation practices can influence overall employee morale and perception of fairness in compensation structures within the company.

Next Steps

• Vesting of the time-based restricted stock units will commence on December 10, 2026, in three annual installments.
• The performance-based award, if earned, will begin vesting on December 10, 2029, in two annual installments.

Key Dates

Recommendation

This Form 4 reports a routine grant of restricted stock units to a Vice President, which is a standard component of executive compensation designed to align management's long-term interests with shareholders. It does not present new financial performance data or strategic shifts that would warrant a change in investment recommendation based solely on this filing. The grant is a positive for executive retention and alignment, supporting a 'hold' stance.

Keywords

T. Rowe Price, TROW, Sebastien Page, Restricted Stock Units, RSU, Insider Transaction, Executive Compensation, Equity Grant, Vesting