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

Director Robert J. Hurst acquired 807 shares of Victory Capital Holdings, Inc. common stock in lieu of director fees.

Summary

• On October 10, 2024, Robert J. Hurst, a director of Victory Capital Holdings, Inc., acquired 807 shares of common stock.
• The shares were issued in lieu of quarterly director fees, with $25,000 at the company's election and $21,250 at Mr. Hurst's election, totaling $46,250.
• The price per share was $57.30, based on the closing price on October 10, 2024.
• Following the transaction, Mr. Hurst directly owns 26,900 shares and indirectly owns 316,580 shares through RJH Investment Partners, L.P.
• Mr. Hurst disclaims beneficial ownership of the indirectly held shares except to the extent of his pecuniary interest.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. A director increasing their stake in the company is generally viewed favorably, suggesting confidence in the company's prospects. However, the transaction is relatively small and part of a standard compensation arrangement.

Positives

• The acquisition of shares by a director can be seen as a positive sign, indicating confidence in the company's future.

Industry Context

This type of transaction, where directors receive shares in lieu of cash compensation, is relatively common in the financial services industry. It aligns the interests of the directors with those of the shareholders.

Comparison to Industry Standards

• Director compensation structures vary across the asset management industry.
• Some companies, like BlackRock or T. Rowe Price, may offer a mix of cash and equity-based compensation to their directors.
• The specific mix depends on the company's size, performance, and compensation philosophy.
• Victory Capital's approach of offering shares in lieu of fees is not uncommon, particularly for aligning director interests with shareholder value.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders as it aligns the director's interests with theirs.

Key Dates