Stagwell (STGW) CEO Mark Penn Exercises SARs and Sells Shares

What Happened

• Mark Penn, CEO of Stagwell Inc., exercised Stock Appreciation Rights (SARs) and the filing shows matched share acquisitions and dispositions to the issuer on August 9, 2026. The filing lists acquisition entries totaling 575,000 shares (500,000 @ $8.27 and 75,000 @ $6.79) with reported acquisition amounts of $4,644,250, and disposition entries of 575,000 shares to the issuer (500,000 and 75,000 @ $9.17) with proceeds of $5,272,750. The filing also shows derivative disposition entries of 575,000 shares at $0 consistent with SAR settlement. These transactions reflect a cash/settlement-style exercise and surrender to the issuer (not an open-market sale).

Key Details

• Transaction date: 2026-08-09; Form filed: 2026-08-11 (filed within two business days of the transaction).
• Reported line items:
  • Acquired 500,000 shares @ $8.27 = $4,135,000
  • Disposed 500,000 shares to issuer @ $9.17 = $4,585,000
  • Acquired 75,000 shares @ $6.79 = $509,250
  • Disposed 75,000 shares to issuer @ $9.17 = $687,750
  • Derivative dispositions (SAR settlement) showing 500,000 and 75,000 shares @ $0 (total 575,000)
• Totals from filing: 575,000 shares involved; acquisition amount $4,644,250; disposition proceeds $5,272,750.
• Shares owned after transaction: not specified in the supplied details. Footnote indicates shares are held by The Stagwell Group LLC and Penn is the controlling person of that entity.
• Footnotes: F1 = SARs exercised and settled for cash; F3/F4 = SARs vested in installments on listed prior dates.

Context

• These entries indicate a cash-settlement style exercise of SARs with shares surrendered to the issuer (common for tax withholding or cash-settlement), not an open-market sale. The filing’s footnotes show the SARs vested in prior years (equal installments on the dates listed). This is typically a routine insider exercise/settlement rather than a directional market bet; no 10b5-1 plan or late-filing flag was indicated in the provided details.