Form 4: StepStone Group Head of Strategy Sells Over 67,000 Shares in Pre-Arranged Transaction

Michael I. McCabe, Head of Strategy and Director at StepStone Group Inc., reported the sale of 67,718 shares of Class A Common Stock for approximately $3.8 million under a Rule 10b5-1 plan.

Summary

• Michael I. McCabe, a Director and Head of Strategy at StepStone Group Inc. (STEP), reported a sale of company stock.
• On June 12, 2025, Mr. McCabe sold 67,718 shares of Class A Common Stock.
• The shares were sold at a weighted average price of $56.54 per share, with individual trades ranging from $56.33 to $56.86.
• The total value of the sale was approximately $3,828,900.52.
• Following the transaction, Mr. McCabe directly owns 423,864 shares of Class A Common Stock and 1,906,142 shares of Class B Common Stock.
• He also indirectly owns 196,423 shares of Class A Common Stock and 937,416 shares of Class B Common Stock through Benzy LLC.
• The transaction was made pursuant to a Rule 10b5-1(c) plan, indicating a pre-arranged sale.

Sentiment

Score: 4

Explanation: The sale of a significant number of shares by a high-ranking insider could be viewed negatively, but the fact that it was executed under a Rule 10b5-1 plan mitigates some of the negative sentiment, suggesting a pre-planned diversification rather than a reaction to new negative information.

Positives

• The sale was conducted under a Rule 10b5-1(c) plan, which suggests it was pre-scheduled and not necessarily indicative of a change in management's outlook on the company's future.

Negatives

• A significant sale of shares by a high-ranking insider, such as the Head of Strategy and a Director, could be perceived negatively by investors, potentially signaling a lack of confidence, although this is mitigated by the 10b5-1 plan.

Future Outlook

This Form 4 filing does not contain any forward-looking statements or guidance regarding the company's future outlook.

Industry Context

This Form 4 filing, detailing an insider stock transaction, is a routine disclosure required by the SEC. It does not provide information on broader industry trends or competitive landscape.

Comparison to Industry Standards

• This document is a standard insider trading report (Form 4) and does not contain information suitable for comparison to industry-specific financial or operational benchmarks. It solely reports a personal stock transaction by an executive.

Related Party Transactions

• Michael I. McCabe's indirect beneficial ownership of Class A and Class B Common Stock through Benzy LLC is noted, indicating a related party holding.

Stakeholder Impact

• Shareholders may interpret the insider sale as a signal, potentially influencing their perception of the stock, although the 10b5-1 plan context should be considered.
• No direct impact on employees, customers, suppliers, or creditors is indicated by this filing.

Key Dates

Keywords

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