Form 4: Crestview Partners Acquires Victory Capital Holdings Shares in Lieu of Director Fees

Crestview Partners, through related entities and director Robert V. Delaney Jr., acquired 1,002 shares of Victory Capital Holdings common stock in lieu of director fees.

Summary

• Crestview Partners II GP, L.P., along with related entities Crestview Victory, L.P., Crestview Advisors, L.L.C., and director Robert V. Delaney Jr., filed a Form 4 regarding changes in beneficial ownership of Victory Capital Holdings, Inc. (VCTR).
• On July 10, 2024, Robert V. Delaney Jr. received 1,002 shares of VCTR common stock under the Issuer's 2018 Stock Incentive Plan in lieu of $48,125 in quarterly director fees.
• These shares were issued at a price of $48 per share, based on the closing price of VCTR on July 10, 2024.
• Mr. Delaney has assigned all rights, title, and interest in these shares to Crestview Advisors, L.L.C.
• Following the transaction, Crestview entities indirectly beneficially own 11,614,250 shares of VCTR common stock.
• Mr. Delaney also indirectly holds 349,764 shares through The 2007 Delaney Family LLC.

Sentiment

Score: 6

Explanation: The document reflects a routine transaction (shares in lieu of fees) and doesn't contain information that would significantly impact investor sentiment positively or negatively. It's a neutral event.

Positives

• The acquisition of shares by a director in lieu of fees demonstrates confidence in the company's value.
• Crestview Partners maintains a significant ownership stake in Victory Capital Holdings.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.

Comparison to Industry Standards

• Form 4 filings are a standard regulatory requirement for publicly traded companies in the United States, ensuring transparency regarding insider transactions.
• Similar filings are made by directors and major shareholders of companies like BlackRock, Apollo, and TPG when their ownership positions change.

Related Party Transactions

• The issuance of shares to Robert V. Delaney Jr., a director, in lieu of director fees is a related party transaction.

Stakeholder Impact

• The transaction has a minimal direct impact on stakeholders.
• It provides transparency to shareholders regarding insider transactions.

Key Dates