James Shanahan - Dec 7, 2022 Form 4 Insider Report for Focus Financial Partners Inc. (FOCS)

Role
Chief Financial Officer
Signature
/s/ J. Russell McGranahan as Attorney-in-Fact
Stock symbol
FOCS
Transactions as of
Dec 7, 2022
Transactions value $
-$18,743
Form type
4
Date filed
12/9/2022, 03:22 PM
Previous filing
Dec 27, 2021
Next filing
Dec 14, 2022

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 -$18.7K -510 -9.98% $36.75 4.6K Dec 7, 2022 Class A Common Stock 510 By James Shanahan 2020 Revocable Trust F1, F2, F3, F4
holding FOCS Common Units in Focus Financial Partners, LLC 13.9K Dec 7, 2022 Class A Common Stock 13.9K By James Shanahan 2020 Revocable Trust F4, F5, F6
* 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 5,648 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, 2022, 1,412 of the Reporting Person's unvested common units vested and 510 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, 1,775 of these common units are vested and 2,824 of these common units are unvested.
F4 Represents securities held by the James Shanahan 2020 Revocable Trust, a revocable living trust established by the Reporting Person. The securities were previously held directly and were transferred to the trust on December 31, 2020.
F5 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.
F6 These common units will vest in four equal installments on each anniversary of December 22, 2021.