Form 4: StepStone Director Transfers Shares to Family Trust

StepStone Group Director Thomas Keck transferred 30,623 Class B Units and Class B Common Stock to a family trust, while retaining voting control.

Summary

• Thomas Keck, a Director of StepStone Group Inc. (STEP), transferred 30,623 Class B Units of Stepstone Group LP and an equal number of Class B Common Stock.
• The transfer occurred on September 30, 2025.
• The recipient was an entity wholly owned by a trust established for the benefit of Keck's immediate family.
• Keck retains the exclusive right to exercise or direct the exercise of voting control over the transferred interests.
• Keck disclaims all beneficial ownership of the transferred interests.
• Class B Units of StepStone Group LP are exchangeable on a one-for-one basis for shares of Class A Common Stock of the Issuer.
• Upon exchange of a Class B Unit, the corresponding Class B Common Stock will be automatically redeemed and cancelled.

Sentiment

Score: 5

Explanation: The filing is a routine insider transaction report detailing a transfer of shares to a family trust, with no direct positive or negative implications for the company's operational or financial performance.

Positives

• The reporting person, Thomas Keck, retains exclusive voting control over the transferred interests, maintaining stability in corporate governance regarding these shares.

Future Outlook

No forward-looking statements or guidance are provided, as this pertains to an insider transaction.

Management Comments

• On September 30, 2025, the Reporting Person transferred 30,623 Class B Units of Stepstone Group LP, together with an equal number of shares of Class B Common Stock (collectively, the 'Transferred Interest') to an entity (the 'Transferee Entity') owned entirely by a trust established for the benefit of Reporting Person's immediate family (such transaction, the 'Transfer').
• Pursuant to the terms of the Transfer, the Reporting Person is required to retain the exclusive right to exercise or direct the exercise of voting control in respect of the Transferred Interests.
• Notwithstanding the foregoing, the Reporting Person disclaims all beneficial ownership of the Transferred Interests.
• Class B Units of StepStone Group LP are exchangeable, on a one-for-one basis, for shares of Class A Common Stock of the Issuer. Upon exchange of a Class B Unit, the corresponding share of Class B Common Stock of the Issuer will be automatically redeemed and cancelled.

Industry Context

This report details a personal transaction by a director and does not provide information directly related to broader industry trends or competitive landscape.

Corporate Governance

Related Party Transactions

• Thomas Keck, a Director, transferred 30,623 Class B Units and Class B Common Stock to an entity owned by a trust for the benefit of his immediate family.

Stakeholder Impact

• Shareholders: Provides transparency regarding a director's personal shareholdings and transfers, with no immediate operational or financial impact on the company. The retention of voting control by the director ensures continuity in governance for these shares.

Key Dates

Keywords

StepStone Group, STEP, Thomas Keck, Insider Transaction, Form 4, Beneficial Ownership, Family Trust, Class B Units, Class B Common Stock, Director