Form 4: Silvercrest Asset Management Group Inc. Executive Receives Restricted Stock Units

John Allen Gray, a Managing Director at Silvercrest Asset Management Group Inc., was granted 3,413 restricted stock units on May 1, 2024.

Summary

• On May 1, 2024, John Allen Gray, a Managing Director at Silvercrest Asset Management Group Inc. (SAMG), received a grant of 3,413 restricted stock units (RSUs).
• Each RSU represents the right to receive a Class B Unit in Silvercrest L.P., which is paired with a share of Class B common stock of Silvercrest Asset Management Group Inc.
• These Class B Units are exchangeable on a one-for-one basis for Class A common stock of the Company under the terms of the Exchange Agreement dated June 26, 2014.
• The Class B common stock is automatically cancelled upon conversion to Class A common stock.
• The RSUs vest in equal installments of 25% on each of the first, second, third, and fourth anniversaries of the grant date (May 1, 2024).
• Following the transaction, Gray directly owns 125,196 shares of Class B Common Stock and 125,196 Class B Units.

Sentiment

Score: 7

Explanation: The document reflects a standard executive compensation practice, suggesting stability and alignment of interests. The sentiment is neutral to slightly positive.

Positives

• The grant of RSUs aligns the executive's interests with the long-term performance of the company.
• Vesting schedule encourages continued service and contribution to the company's success.

Future Outlook

The document does not contain specific forward-looking statements beyond the vesting schedule of the restricted stock units.

Industry Context

This type of equity grant is a common practice in the asset management industry to incentivize and retain key personnel.

Comparison to Industry Standards

• Equity compensation is a standard practice among publicly traded asset management firms.
• Companies like Affiliated Managers Group (AMG) and Focus Financial Partners (FOCS) also utilize restricted stock units and other equity-based incentives to align management interests with shareholder value.
• The vesting schedule and exchange terms described are typical for these types of grants.

Stakeholder Impact

• The RSU grant could have a slightly positive impact on shareholders by aligning management's interests with the company's long-term success.
• Employees may view the grant positively as it represents a form of compensation and recognition.

Key Dates