Mark Penn - Jul 18, 2023 Form 4 Insider Report for Stagwell Inc (STGW)

Role: Chief Executive Officer, Director, 10%+ Owner
Signature: /s/ Mark Penn
Stock symbol: STGW
Transactions as of: Jul 18, 2023
Transactions value $: -$1,177,160
Form type: 4
Date filed: 7/20/2023, 08:42 PM
Previous filing: Mar 22, 2023
Next filing: Dec 8, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	STGW	Class A Common Stock	Options Exercise	$1.1M	+500K	+21.57%	$2.19	2.82M	Jul 18, 2023	Direct	F1
transaction	STGW	Class A Common Stock	Disposed to Issuer	-$1.1M	-134K	-4.74%	$8.19	2.68M	Jul 18, 2023	Direct	F1
transaction	STGW	Class A Common Stock	Tax liability	-$1.18M	-144K	-5.35%	$8.19	2.54M	Jul 18, 2023	Direct	F2
holding	STGW	Class A Common Stock						130K	Jul 18, 2023	See Footnote	F3

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	STGW	Stock Appreciation Rights	Options Exercise	$0	-500K	-33.33%	$0.00	1M	Jul 18, 2023	Class A Common Stock	500K	$2.19	Direct	F1, F4

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Represents the exercise of Stock Appreciation Rights (SARs) and settlement in shares of Class A Common Stock.
F2	Represents shares withheld by the issuer to satisfy tax withholding requirements on the reported exercise and settlement of SARs.
F3	Held by The Stagwell Group LLC ("Stagwell Group"). The Reporting Person is the controlling person of Stagwell Group. Amounts reported as indirectly held previously included 14,067,837 shares of Class A Common Stock of the Issuer held by Stagwell Agency Holdings LLC. As disclosed in the Schedule 13D/A filed by the Reporting Person on May 19, 2023, such shares were previously distributed to certain limited partners of Stagwell Media LP for no consideration. The Reporting Person disclaims beneficial ownership of the securities reported herein except to the extent of his pecuniary interest therein, if any, and this report shall not be deemed an admission that the Reporting Person is the beneficial owner of, or has any pecuniary interest in, such securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.
F4	The SARs vested in equal installments on March 18, 2020, March 18, 2021 and March 18, 2022.