Andrew Bednar - 31 Aug 2024 Form 4 Insider Report for Perella Weinberg Partners (PWP)

Role
Chief Executive Officer, Director
Signature
/s/ Mark Polemeni, as Attorney-in-Fact
Issuer symbol
PWP
Transactions as of
31 Aug 2024
Net transactions value
-$6,128,456
Form type
4
Filing time
04 Sep 2024, 21:43:59 UTC
Previous filing
07 Mar 2024
Next filing
02 Oct 2024
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction PWP Class A Common Stock Options Exercise $0 +614,055 +124% $0.000000 1,109,984 31 Aug 2024 Direct
transaction PWP Class A Common Stock Tax liability $6,128,456 -313,476 -28% $19.55 796,508 03 Sep 2024 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 PWP Performance-Based Stock Units Options Exercise $0 -614,055 -26% $0.000000 1,735,945 31 Aug 2024 Class A Common Stock 614,055 Direct F2, F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents deemed disposition of shares of Class A common stock to the Issuer to satisfy tax withholding obligations in connection with the vesting of restricted stock units.
F2 Each performance-based restricted stock unit ("PSU") represents a contingent right to receive one share of Class A common stock.
F3 These PSUs vested on August 31, 2024, upon the achievement of certain service-based and performance-based vesting conditions.
F4 The PSUs granted on August 31, 2021 vest based on the achievement of (i) service-based vesting conditions that are satisfied in two equal installments on the third and fifth anniversaries of the grant date, subject to a 50% holdback after the first vesting date, and (ii) performance-based vesting conditions that are satisfied upon the achievement, as measured on the last calendar day of each month, of closing stock prices equal to $15, $20, $25 and $30 (subject to linear interpolation) for 20 out of any 30 consecutive trading days, in each case prior to the fifth anniversary of the grant date.