| Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Ownership | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|
| transaction | PZN | Class B common stock, par value $0.000001 | Gift | $0 | -400K | -2.17% | $0.00 | 18.1M | Jun 3, 2021 | Pzena Investment Management, LP | F1, F2, F3 |
| transaction | PZN | Class B common stock, par value $0.000001 | Gift | $0 | -155K | -0.86% | $0.00 | 17.9M | Sep 17, 2021 | Pzena Investment Management, LP | F1, F3, F4, F5 |
| transaction | PZN | Class B common stock, par value $0.000001 | Award | $0 | +419K | +2.34% | $0.00 | 18.3M | Jan 1, 2022 | Pzena Investment Management, LP | F1, F3, F6, F7 |
| holding | PZN | Class B common stock, par value $0.000001 | 6.41M | Jun 3, 2021 | By trust | F8 | |||||
| holding | PZN | Class B common stock, par value $0.000001 | 42.4K | Jun 3, 2021 | By spouse |
| Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Underlying Class | Amount | Exercise Price | Ownership | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| transaction | PZN | Class B Units | Gift | $0 | -400K | -2.17% | $0.00 | 18.1M | Jun 3, 2021 | Class A common stock, par value $0.01 | 400K | Pzena Investment Management, LP | F2, F3, F9 | |
| transaction | PZN | Delayed Exchange Class B Units | Gift | $0 | -155K | -0.86% | $0.00 | 17.9M | Sep 17, 2021 | Class A common stock, par value $0.01 | 155K | Pzena Investment Management, LP | F3, F4, F5, F9 | |
| transaction | PZN | Delayed Exchange Class B Units | Award | +419K | +2.34% | 18.3M | Jan 1, 2022 | Class A common stock, par value $0.01 | 419K | Pzena Investment Management, LP | F3, F6, F7, F9 | |||
| holding | PZN | Class B Units | 6.41M | Jun 3, 2021 | Class A common stock, par value $0.01 | 6.41M | By trust | F8, F9 | ||||||
| holding | PZN | Class B Units | 42.4K | Jun 3, 2021 | Class A common stock, par value $0.01 | 42.4K | By spouse | F9 |
| Id | Content |
|---|---|
| F1 | Each holder of a Class B Unit of Pzena Investment Management, LLC (the "Operating Company") is also issued one share of Pzena Investment Management, Inc.'s (the "Issuer") Class B common stock, par value $0.000001 per share, in exchange for the par value thereof. Holders of Class B common stock are not entitled to participate in any dividends or other distributions made by the Issuer to holders of its capital stock, except for the right to receive the par value thereof upon the Issuer's liquidation or dissolution. |
| F2 | This transaction involved a charitable gift of securities by the Reporting Person to the Fidelity Investments Charitable Gift Fund. |
| F3 | Pursuant to the Amended and Restated Agreement of Limited Partnership ("LPA") of Pzena Investment Management, LP ("PIM LP"), dated as of December 30, 2019, whenever a Class B Unit is issued to the Reporting Person, the Reporting Person will be deemed to immediately and automatically contribute such Unit and related Class B common stock, to PIM LP and PIM LP will concurrently issue to him a corresponding limited partnership interest. Pursuant to the LPA, each limited partnership interest in PIM LP will be cancelled upon redemption by the Reporting Person for Class B Units and related Class B common stock subject to the terms of the LPA. The Issuer is the general partner of PIM LP. |
| F4 | This transaction involved a bona fide gift of securities by the Reporting Person to Richard S. Pzena 2016 Irrevocable Trust. |
| F5 | These Delayed Exchange Class B units have the right to receive dividend payments, however, they are not eligible for exchange pursuant to the Exchange Rights of Class B Members (Exhibit B to the Amended Pzena LLC Agreement) until January 1, 2028 (seven years after the original grant date), at which time they will be 100% exchangeable for shares of the Issuer's Class A common stock (subject to the timing set forth in the Exchange Rights Agreement). These Class B units do not carry any rights associated with the Issuer and Operating Company's Tax Receivable Agreement. |
| F6 | On January 1, 2022, the Reporting Person was granted 418,906 Delayed Exchange Class B Units of the Operating Company and an equivalent number of share of Class B common stock, par value $0.000001 per share. These Class B units vest immediately upon the date of grant and have the right to receive dividend payments, however, they are not eligible for exchange pursuant to the Exchange Rights of Class B Members (Exhibit B to the Amended Pzena LLC Agreement) until seven years after the grant date, at which time they will be 100% exchangeable for shares of the Issuer's Class A common stock (subject to the timing set forth in the Exchange Rights Agreement). These Class B units do not carry any rights associated with the Issuer and Operating Company's Tax Receivable Agreement. |
| F7 | This number includes 1,799,684 of Delayed Exchange Class B Units and 16,572,621 Class B Units. |
| F8 | This number includes 155,000 of Delayed Exchange Class B Units and 6,258,600 Class B units. |
| F9 | Represents units of the Operating Company classified as "Class B Units" under the Operating Company's Amended and Restated Operating Agreement dated as of December 30, 2019 (the "Amended Pzena LLC Agreement"), among the Issuer, as the Managing Member of the Operating Company and the holders of such reclassified units of the Operating Company. Pursuant to the Amended Pzena LLC Agreement, each Class B Unit is exchangeable for a share of Class A common stock of the Issuer subject to the timing and volume limitations set forth in the Amended Pzena LLC Agreement. |