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

Role
Chief Executive Officer, Director, 10%+ Owner
Signature
/s/ Mark Penn
Issuer symbol
STGW
Transactions as of
18 Jul 2023
Net transactions value
-$1,177,160
Form type
4
Filing time
20 Jul 2023, 20:42:42 UTC
Previous filing
22 Mar 2023
Next filing
08 Dec 2023
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction STGW Class A Common Stock Options Exercise $1,095,000 +500,000 +22% $2.19 2,817,924 18 Jul 2023 Direct F1
transaction STGW Class A Common Stock Disposed to Issuer $1,095,003 -133,700 -4.7% $8.19 2,684,224 18 Jul 2023 Direct F1
transaction STGW Class A Common Stock Tax liability $1,177,157 -143,731 -5.4% $8.19 2,540,493 18 Jul 2023 Direct F2
holding STGW Class A Common Stock 130,000 18 Jul 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 -500,000 -33% $0.000000 1,000,000 18 Jul 2023 Class A Common Stock 500,000 $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.