Marc O. Mayer - May 24, 2021 Form 4 Insider Report for Manning & Napier, Inc. (MN)

Role: Chairman and CEO, Director
Signature: /s/ Sarah C. Turner, attorney-in-fact
Stock symbol: MN
Transactions as of: May 24, 2021
Transactions value $: -$468,458
Form type: 4
Date filed: 5/26/2021, 04:12 PM
Previous filing: May 7, 2021
Next filing: Jun 15, 2021

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	MN	Class A Common Stock, par value $0.01	Options Exercise	$302K	+150K	+11.44%	$2.01	1.46M	May 24, 2021	Direct	F1
transaction	MN	Class A Common Stock, par value $0.01	Tax liability	-$770K	-96.6K	-6.61%	$7.97	1.36M	May 24, 2021	Direct	F1

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	MN	Employee Stock Option (right to buy)	Options Exercise	$0	-150K	-20.45%	$0.00	583K	May 24, 2021	Class A Common Stock, par value $0.01	150K	$2.01	Direct	F2
holding	MN	Employee Stock Option (right to buy)						167K	May 24, 2021	Class A Common Stock, par value $0.01	167K	$2.01	Direct

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

Explanation of Responses:

Id	Content
F1	Includes 163,399 restricted stock units that will convert to common stock on a one-for-one basis. The restricted stock units are subject to time vesting, with one-fourth of such restricted stock units vesting on each of February 1, 2023, February 1, 2024, February 1, 2025 and February 1, 2026.
F2	6,332 options became exercisable on February 26, 2021. 289,000 options became exercisable on March 9, 2021. 288,000 options will become exercisable, if at all, if the average closing price per share of Class A Common Stock of the Company equals or exceeds $7.75 per share for 20 consecutive trading days on or before December 31, 2025. The options shall terminate and become null and void at the close of business on the date that is the fourth anniversary of the applicable vesting date.

Content

Includes 163,399 restricted stock units that will convert to common stock on a one-for-one basis. The restricted stock units are subject to time vesting, with one-fourth of such restricted stock units vesting on each of February 1, 2023, February 1, 2024, February 1, 2025 and February 1, 2026.

6,332 options became exercisable on February 26, 2021. 289,000 options became exercisable on March 9, 2021. 288,000 options will become exercisable, if at all, if the average closing price per share of Class A Common Stock of the Company equals or exceeds $7.75 per share for 20 consecutive trading days on or before December 31, 2025. The options shall terminate and become null and void at the close of business on the date that is the fourth anniversary of the applicable vesting date.