Form 4: StepStone Group Director and Head of Strategy Michael McCabe Sells Over 250,000 Class A Shares

Michael I. McCabe, a Director and Head of Strategy at StepStone Group Inc., reported the sale of 251,118 Class A Common Stock shares on May 28, 2025, through pre-arranged trading plans.

Summary

• Michael I. McCabe, a Director, Head of Strategy, and a member of a 13D Group owning more than 10% of StepStone Group Inc. (STEP), reported transactions on May 28, 2025.
• McCabe sold a total of 251,118 shares of Class A Common Stock.
• The sales included 199,641 shares at a weighted average price of $59.92, with prices ranging from $59.41 to $60.37.
• An additional 100 shares were sold at a weighted average price of $60.46.
• Furthermore, 51,377 shares indirectly owned through Benzy LLC were sold at a weighted average price of $59.90, with prices ranging from $59.43 to $60.35.
• These sales were effected pursuant to a Rule 10b5-1(c) pre-arranged trading plan.
• Following these transactions, Michael I. McCabe beneficially owns 491,682 shares of Class A Common Stock directly and 196,423 shares indirectly through Benzy LLC.
• McCabe also holds 1,906,142 shares of Class B Common Stock directly and 937,416 shares indirectly through Benzy LLC.

Sentiment

Score: 5

Explanation: The sale of shares by an insider, while reducing direct ownership, was conducted under a pre-arranged 10b5-1 trading plan, indicating a scheduled liquidity event rather than a reaction to new company developments. This makes the transaction largely neutral in terms of immediate sentiment.

Positives

• The sales were conducted under a Rule 10b5-1(c) plan, indicating a pre-scheduled liquidity event rather than a reaction to new, potentially negative, company developments.

Negatives

• The reduction in direct and indirect insider ownership, even if pre-planned, can sometimes be perceived by the market as a decrease in alignment between management and shareholder interests.

Future Outlook

NA

Industry Context

This Form 4 filing details an individual insider transaction and does not provide broader industry context or trends.

Stakeholder Impact

• Shareholders may note the reduction in direct and indirect insider ownership, though the pre-planned nature of the sale (Rule 10b5-1(c)) mitigates concerns about its implications for the company's immediate prospects.

Key Dates

Keywords

StepStone Group, STEP, Form 4, Insider Trading, Share Sale, Michael McCabe, Director, Head of Strategy, SEC Filing, Equity Transaction, 10b5-1 Plan