Form 4: Silvercrest Asset Management Group Inc. Executive Receives Stock Grant
SEC Form 4 Filing
David J. Campbell, General Counsel and Secretary of Silvercrest Asset Management Group Inc., reports the acquisition of 2,707 shares of Class B Common Stock and corresponding restricted stock units.
Summary
- On May 1, 2024, David J. Campbell, General Counsel and Secretary of Silvercrest Asset Management Group Inc., acquired 2,707 shares of Class B Common Stock and 2,707 Class B Units, represented as restricted stock units (RSUs).
- These RSUs will vest in equal installments over four years, starting May 1, 2025.
- Each Class B Unit is exchangeable for a share of Class A common stock, subject to certain conditions and limitations outlined in the Exchange Agreement and Amended LPA.
- Following the transaction, Campbell directly owns 77,484 shares of Class B Common Stock and 77,484 Class B Units.
Sentiment
Score: 7
Explanation: The document reflects a routine executive compensation event, which is generally viewed neutrally to positively as it aligns management with shareholder interests. The vesting schedule promotes long-term commitment.
Positives
- The grant of restricted stock units aligns the executive's interests with those of the shareholders.
- The vesting schedule encourages long-term commitment from the executive.
Future Outlook
The executive's holdings are subject to vesting schedules and exchange agreements, influencing future stock ownership and potential sales.
Industry Context
Executive compensation through stock grants is a common practice in the asset management industry to incentivize performance and align management's interests with shareholders.
Stakeholder Impact
- Shareholders may view the stock grant positively as it aligns management's interests with theirs.
- Employees may see this as a standard compensation practice within the company.
Next Steps
- The executive will continue to vest in the restricted stock units over the next four years.
- The executive may exchange Class B Units for Class A common stock subject to the terms of the Exchange Agreement and Amended LPA.
Key Dates
| Date | Description |
|---|---|
| June 26, 2014 | Date of the Exchange Agreement. |
| July 2, 2013 | Date used as a reference point for the minimum number of Class B units to be retained. |
| January 2, 2014 | Beginning of the period for annual exchange of Class B units for Class A common stock. |
| May 1, 2024 | Date of the transaction (grant of restricted stock units). |
| May 3, 2024 | Date of signature on the Form 4 filing. |
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