Joel Greenblatt - Jan 1, 2022 Form 4 Insider Report for Pzena Investment Management, Inc. (PZN)

Role
Director
Signature
Joan F. Berger, as attorney-in-fact for Joel Greenblatt
Stock symbol
PZN
Transactions as of
Jan 1, 2022
Transactions value $
$94,994
Form type
4
Date filed
1/4/2022, 03:38 PM
Next filing
Nov 2, 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 PZN Phantom Class A common stock Award $95K +10K +6.05% $9.47 176K Jan 1, 2022 Class A common stock, par value $0.01 10K Direct F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each share of Phantom Class A common stock ("Phantom Stock") is the economic equivalent of one share of the Issuer's Class A common stock ("Common Stock"). The shares of Phantom Stock become payable in a single distribution of shares of Common Stock, at such time as elected by the Reporting Person at the time such deferral was made pursuant to Section 3.4 of the Pzena Investment Management, Inc. Non-Employee Director Deferred Compensation Plan (previously filed as Exhibit 10.1 to the Issuer's quarterly report on Form 10-Q, filed with the Securities and Exchange Commission on November 9, 2009).
F2 Issued in connection with the Reporting Person's 2022 non-employee director annual retainer in the amount of $95,000 payable at the director's option, either 100% in cash, 100% in shares of the Issuer's Class A common stock, or 50% payable in cash and 50% in shares of the Issuer's Class A common stock. All shares of the Issuer's Class A common stock were valued at the closing price on December 31, 2021.
F3 Includes an aggregate of 5,618 shares of Phantom Stock issued in-kind as dividend payment in 2021.