Form 4: Silvercrest Asset Management Group CEO Richard Hough III Reports Stock Transactions
SEC Form 4 Filing
Richard Hough III, Chairman and CEO of Silvercrest Asset Management Group Inc., reports the acquisition and disposal of Class B Common Stock and Class B Units on April 30, 2024.
Summary
- On April 30, 2024, Richard R. Hough III, Chairman and CEO of Silvercrest Asset Management Group Inc., engaged in transactions involving the company's Class B Common Stock and Class B Units.
- Hough acquired 60,742 shares of Class B Common Stock at a price of $14.54 per share.
- He also disposed of 60,286 shares of Class B Common Stock at a price of $14.65 per share.
- These transactions resulted in Hough holding 608,624 shares of Class B Common Stock directly.
- Additionally, Hough acquired and disposed of 60,742 and 60,286 Class B Units respectively, which are exchangeable for Class A Common Stock.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the filing simply reports transactions related to stock options and unit exchanges, which are part of standard executive compensation.
Industry Context
This Form 4 filing is a routine disclosure of insider transactions, providing transparency to investors regarding the buying and selling activities of company executives. It's a standard practice in the financial industry to monitor such filings for insights into management's perspective on the company's stock.
Comparison to Industry Standards
- Form 4 filings are standard practice for publicly traded companies, ensuring transparency regarding insider transactions.
- The reported transactions are typical for executives holding stock options and equity in their companies.
- Similar filings are made by executives at comparable asset management firms like Affiliated Managers Group (AMG) and Focus Financial Partners (FOCS).
Stakeholder Impact
- The transactions provide transparency to shareholders regarding executive stock ownership.
- The filing ensures compliance with SEC regulations, maintaining investor confidence.
Key Dates
| Date | Description |
|---|---|
| 07/02/2013 | Date used as a reference point for the minimum number of Class B units to be retained by the holder. |
| 01/02/2014 | Start date for the annual period during which the holder may exchange Class B units for Class A common stock. |
| 06/26/2014 | Date of the Exchange Agreement governing the exchange of Class B Units for Class A Common Stock. |
| 05/01/2019 | First vesting date of the employee stock option. |
| 04/30/2024 | Date of the reported transactions involving Class B Common Stock and Class B Units. |
| 05/01/2024 | Date the employee stock option is exercisable. |
| 05/02/2024 | Date of signature for the Form 4 filing. |
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