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

StepStone Group Inc. CEO Scott W. Hart sold 10,000 shares of Class A Common Stock for a weighted average price of $61.7 per share under a pre-arranged 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 November 25, 2025.
• The shares were sold at a weighted average price of $61.7 per share, with individual trades ranging from $61.24 to $62.06.
• This sale was executed pursuant to a Rule 10b5-1 trading plan, which was pre-established.
• Following the transaction, Mr. Hart directly owns 50,883 shares of Class A Common Stock and indirectly owns 20,000 shares of Class A Common Stock and 3,061,782 shares of Class B Common Stock through a trust.

Sentiment

Score: 5

Explanation: The sentiment is neutral. While it's an insider sale, the execution under a Rule 10b5-1 plan suggests a pre-planned, routine transaction rather than a reaction to new information, thus not inherently positive or negative for the company's immediate prospects.

Positives

• The transaction was executed pursuant to a Rule 10b5-1 trading plan, indicating a pre-scheduled sale not based on new, non-public information, which can mitigate negative perceptions of insider selling.

Negatives

• The sale reduces the direct beneficial ownership of Class A Common Stock by the CEO, which could be perceived as a slight reduction in alignment of interests, although overall holdings remain substantial.

Future Outlook

This filing is a transactional report and does not contain forward-looking statements or guidance regarding the company's future outlook.

Industry Context

This insider transaction is specific to StepStone Group Inc. and its CEO, Scott W. Hart, and does not directly relate to broader industry trends or competitor activities.

Related Party Transactions

• The transaction involves the sale of shares by the Chief Executive Officer, Scott W. Hart, an insider of StepStone Group Inc.

Stakeholder Impact

• Shareholders: A minor reduction in the CEO's direct Class A Common Stock holdings, though mitigated by the pre-arranged 10b5-1 plan and substantial remaining indirect holdings.

Key Dates

Recommendation

A routine insider sale executed under a Rule 10b5-1 trading plan typically does not provide new fundamental information to warrant a change in investment recommendation. Such sales are often for personal financial planning and are pre-scheduled, reducing the likelihood of being a signal about the company's immediate future performance. Investors should continue to evaluate the company based on its financial performance, strategic initiatives, and broader market conditions.

Keywords

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