Leonard R. Chang - 07 Dec 2022 Form 4 Insider Report for Focus Financial Partners Inc.

Role
Sr. Managing Dir/Head of M&A
Signature
/s/ J. Russell McGranahan as Attorney-in-Fact
Issuer symbol
N/A
Transactions as of
07 Dec 2022
Net transactions value
-$21,425
Form type
4
Filing time
09 Dec 2022, 15:18:42 UTC
Previous filing
27 Dec 2021
Next filing
14 Dec 2022
SEC
View on sec.gov

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction FOCS Common Units in Focus Financial Partners, LLC Tax liability $21,425 -583 -9.5% $36.75 5,572 07 Dec 2022 Class A Common Stock 583 Direct F1, F2, F3
holding FOCS Common Units in Focus Financial Partners, LLC 15,535 07 Dec 2022 Class A Common Stock 15,535 Direct F4, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 As previously reported, on December 7, 2020, the Reporting Person acquired 6,738 unvested common units that vest in four equal installments on each anniversary of December 7, 2020. Vested common units are exchangeable (together with an equal number of shares of Class B common stock), subject to certain restrictions in the Fourth Amended and Restated Operating Agreement of Focus Financial Partners, LLC ("Focus LLC"), for (i) an equal number of shares of the Issuer's Class A common stock or, (ii) at the election of the Issuer, cash.
F2 On December 7, 2021, 1,684 of the Reporting Person's unvested common units vested and 583 of such common units were withheld by the Issuer to satisfy the tax obligations upon vesting. The number of common units withheld was based on the closing price of the Issuer's Class A common stock on December 6, 2022.
F3 As of the date of this report, 2,203 of these common units are vested and 3,369 of these common units are unvested.
F4 Vested common units are exchangeable (together with an equal number of shares of Class B common stock), subject to certain restrictions in the Fourth Amended and Restated Operating Agreement of Focus LLC, for (i) an equal number of shares of the Issuer's Class A common stock or, (ii) at the election of the Issuer, cash.
F5 These common units will vest in four equal installments on each anniversary of December 22, 2021.