ARG Private Equity, LLC - Nov 18, 2021 Form 4 Insider Report for StepStone Group Inc. (STEP)

Role
10%+ Owner
Signature
ARG Private Equity, LLC; By /s/ Frederic Dorwart, Manager
Stock symbol
STEP
Transactions as of
Nov 18, 2021
Transactions value $
-$68,952,645
Form type
4
Date filed
11/19/2021, 04:43 PM

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction STEP Class B Common Stock Disposed to Issuer -$1.33K -1.33M -26.64% $0.00* 3.66M Nov 18, 2021 Direct F1, F2, F3
transaction STEP Class A Common Stock Conversion of derivative security +1.33M +2533.97% 1.38M Nov 18, 2021 Direct F1, F2, F3, F4
transaction STEP Class A Common Stock Sale -$69M -1.33M -96.2% $51.83 52.5K Nov 18, 2021 Direct F2, F3, F5

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 STEP Class B Units Conversion of derivative security -1.33M -26.64% 3.66M Nov 18, 2021 Class A Common Stock 1.33M Direct F1, F2, F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On November 18, 2021, the Reporting Person exchanged 1,330,336 Class B Units of StepStone Group LP for 1,330,336 shares of Class A Common Stock. In connection with the exchange, 1,330,336 shares of Class B Common Stock were automatically redeemed and cancelled.
F2 27,500 of the Class A Common Stock securities are held of record by Steven R. Mitchell. Each of ARG Private Equity, LLC, ARGO Holdings, LLC, George Kaiser and Robert A. Waldo disclaims beneficial ownership of these securities to the extent it or he does not have a pecuniary interest therein. 25,000 of the Class A Common Stock securities are held of record by Robert A. Waldo. Each of ARG Private Equity, LLC, ARGO Holdings, LLC, George Kaiser and Steven R. Mitchell disclaims beneficial ownership of these securities to the extent it or he does not have a pecuniary interest therein.
F3 The remaining securities are held of record by ARGO Holdings, LLC. ARGO Holdings, LLC is managed by ARG Private Equity, LLC Steven R. Mitchell has a derivative interest in ARG Private Equity, LLC. Robert A. Waldo is a manager and Vice President of ARG Private Equity, LLC and has a derivative interest therein. George B. Kaiser is the sole member of ARG Private Equity, LLC. Each of Steven R. Mitchell, Robert A. Waldo and George B. Kaiser disclaims beneficial ownership of the securities reported herein for purposes of Rule 16a-1(a) under the Securities and Exchange Act of 1934, as amended, except to the extent of his pecuniary interest therein, if any.
F4 The Class B Units are exchangeable, on a one-for-one basis, for shares of Class A Common Stock of the Issuer. Upon exchange of a Class B Unit, the corresponding share of Class B Common Stock of the Issuer will be automatically redeemed and cancelled.
F5 On November 18, 2021, the Reporting Person sold shares of Class A Common Stock in a secondary offering of Class A Common Stock by certain selling stockholders of the Issuer.