Form 4: StepStone CEO Sells Shares Under 10b5-1 Plan

StepStone Group CEO Scott W. Hart sold 10,000 shares of Class A Common Stock for a weighted average price of $64.34 per share under a Rule 10b5-1 trading plan.

Summary

• Scott W. Hart, Chief Executive Officer and Director of StepStone Group Inc. (STEP), reported a sale of Class A Common Stock.
• The transaction involved the disposition of 10,000 shares of Class A Common Stock on October 27, 2025.
• The shares were sold at a weighted average price of $64.34 per share, with individual trades ranging from $63.88 to $64.60.
• This sale was executed pursuant to a pre-arranged Rule 10b5-1 trading plan.
• Following the transaction, Scott W. Hart directly owns 50,883 shares of Class A Common Stock and indirectly owns 30,000 shares of Class A Common Stock through a trust.
• Hart also indirectly owns 3,061,782 shares of Class B Common Stock through a trust.

Sentiment

Score: 5

Explanation: The sale was executed under a pre-arranged 10b5-1 trading plan, which typically indicates a planned liquidity event for personal financial management rather than a reaction to new company-specific news. The transaction itself is neutral in sentiment.

Stakeholder Impact

• Shareholders: May observe a reduction in direct holdings by the CEO, though the execution under a 10b5-1 plan mitigates immediate negative interpretation regarding company prospects.

Key Dates

Recommendation

The sale of 10,000 shares by CEO Scott W. Hart was conducted under a Rule 10b5-1 trading plan, indicating a pre-scheduled transaction for personal financial planning rather than a reaction to new material information. While insider sales can sometimes be viewed negatively, a 10b5-1 plan mitigates this concern. The amount sold represents a small fraction of his total beneficial ownership (over 3 million shares), suggesting no significant change in his long-term conviction. Therefore, a 'hold' recommendation is appropriate as this transaction alone does not provide a strong signal to alter investment positions.

Keywords

StepStone Group, STEP, Form 4, Insider Trading, Stock Sale, CEO, Scott W. Hart, 10b5-1 Plan