Form 4: StepStone Co-COO Sells $13.1M in Class A Stock

StepStone Group Inc.'s Co-Chief Operating Officer, Jose A. Fernandez, sold 211,210 shares of Class A Common Stock for approximately $13.1 million through a pre-arranged 10b5-1 trading plan.

Summary

• Jose A. Fernandez, Co-Chief Operating Officer and Director of StepStone Group Inc., reported multiple sales of Class A Common Stock.
• The transactions occurred on November 11, 12, and 13, 2025.
• A total of 211,210 shares of Class A Common Stock were disposed of indirectly through a trust.
• The sales were executed pursuant to a Rule 10b5-1 trading plan, which allows insiders to set up a pre-scheduled plan to sell shares.
• The weighted average sales prices ranged from $61.41 to $63.17 per share.
• Following these transactions, the reporting person's indirect beneficial ownership of Class A Common Stock by trust was reduced to zero.
• Mr. Fernandez continues to beneficially own 11,676 shares of Class A Common Stock directly, 3,216,601 shares of Class B Common Stock indirectly by trust, and 1,605,500 shares of Class B Common Stock indirectly by Santaluz Capital Partners, LLC.

Sentiment

Score: 5

Explanation: The sentiment is neutral as this is a routine disclosure of pre-scheduled insider stock sales under a 10b5-1 plan, which does not inherently indicate positive or negative company performance or outlook.

Negatives

• The Co-Chief Operating Officer and Director sold a significant portion of his Class A Common Stock holdings, which could be perceived negatively by some investors, despite being part of a pre-arranged plan.

Future Outlook

This filing does not contain any forward-looking statements or guidance regarding the company's future outlook.

Industry Context

This Form 4 filing reports an insider transaction, which is a routine disclosure required by the SEC. It does not provide information directly related to broader industry trends or competitive landscape, but rather details a specific executive's stock activity.

Stakeholder Impact

• Shareholders may interpret the insider selling as a signal, although the 10b5-1 plan mitigates concerns that the sales are based on new, non-public negative information.

Key Dates

Keywords

StepStone Group, STEP, Insider Trading, Form 4, Stock Sale, Jose A. Fernandez, 10b5-1 Plan, Class A Common Stock