ACKMAN WILLIAM A 4
4 · Seaport Entertainment Group Inc. · Filed Apr 23, 2026
Research Summary
AI-generated summary of this filing
Seaport Entertainment (SEG) — Pershing Square Transfers 90,875 Shares
What Happened
Pershing Square Capital Management, L.P. (part of the Pershing Square reporting group and a >10% owner) reported same-day related-party transactions on April 21, 2026 involving 90,875 shares of Seaport Entertainment Group, Inc. (SEG). The filing shows one "other disposition" and one "other acquisition" (both coded J) at $22.25 per share, with each leg valued at $2,021,969. Footnotes explain this reflects a transfer of shares from PSLP to PS Redemption, L.P. (RedemptionCo) in connection with a special redemption of certain limited partner interests.
Key Details
- Transaction date: April 21, 2026; Filing date: April 23, 2026 (filed within normal reporting window).
- Price: $22.25 per share (footnote cites the closing price on April 21, 2026).
- Share counts/values: 90,875 shares moved; each leg reported at $2,021,969.
- Type/code: Reported as "Other acquisition or disposition (J)" — indicates a related-party transfer rather than an open-market buy/sell.
- Who filed: PSCM (Pershing Square Capital Management, L.P.) filed jointly with affiliated Pershing Square entities and William A. Ackman (see footnotes).
- Ownership after transaction: Not specified in the provided excerpt.
- Relevant footnotes: transfer to RedemptionCo for a special redemption (F1); securities held by Pershing Square Affiliated Funds and RedemptionCo (F4, F7, F8); multiple Pershing Square entities and Ackman may be deemed beneficial owners but disclaim direct ownership except pecuniary interest (F3, F5).
- Filing timeliness: Appears timely (transaction 4/21, filed 4/23).
Context
This appears to be an institutional reallocation tied to a limited-partner redemption, not an executive open-market trade. For retail investors, such transfers among affiliated funds are typically administrative and do not necessarily signal the investment manager increasing or decreasing economic exposure to the company.
Insider Transaction Report
- Other
Common Stock, par value $0.01 per share
[F1][F2][F3][F4][F5][F6][F7]2026-04-21$22.25/sh−90,875$2,021,969→ 4,932,905 total(indirect: See Footnotes) - Other
Common Stock, par value $0.01 per share
[F1][F2][F3][F4][F5][F6][F8]2026-04-21$22.25/sh+90,875$2,021,969→ 90,875 total(indirect: See Footnotes)
Footnotes (8)
- [F1]Reflects a transfer of the Subject Securities (as defined below) from PSLP (as defined below) to PS Redemption, L.P. ("RedemptionCo"), which was formed for the purpose of giving effect to the special redemption of certain limited partner interests of PSLP in connection with a special redemption opportunity that was consummated on April 21, 2026.
- [F2]The closing price of the Issuer's Common Stock on April 21, 2026.
- [F3]In addition to Pershing Square Capital Management, L.P., a Delaware limited partnership ("PSCM"), this Form 4 is being filed jointly by Pershing Square Holdco, L.P., a Delaware limited partnership ("PS Holdco"), Pershing Square Holdco GP, LLC, a Delaware limited liability company ("PS Holdco GP"), Pershing Square Management, LLC, a Delaware limited liability company ("ManagementCo"), and William A. Ackman, a citizen of the United States of America (collectively, the "Reporting Persons"), each of whom has the same business address as PSCM and may be deemed to beneficially own the securities reported on this Form 4 (the "Subject Securities").
- [F4]PSCM advises the accounts of Pershing Square, L.P., a Delaware limited partnership ("PSLP"), Pershing Square International, Ltd., a Cayman Islands exempted company ("PSI"), and Pershing Square Holdings, Ltd., a limited liability company incorporated in Guernsey ("PSH" and together with PSLP and PSI, the "Pershing Square Affiliated Funds") and RedemptionCo.
- [F5](A) PSCM, as the investment adviser to the Pershing Square Affiliated Funds and RedemptionCo, (B) PS Holdco, as the indirect 100% holding company of PSCM, (C) PS Holdco GP, as the sole general partner of PS Holdco and (D) ManagementCo, as the sole member of PS Holdco GP, may each be deemed to be the beneficial owner of the Subject Securities for purposes of Rule 16a-1(a) under the Securities Exchange Act of 1934 (the "Exchange Act"). By virtue of Mr. Ackman's position as (i) the Chief Executive Officer of PSCM, (ii) a director of PS Holdco GP and (iii) a member of ManagementCo, Mr. Ackman may be deemed to be the beneficial owner of the Subject Securities for purposes of Rule 16a-1(a) under the Exchange Act. Each of the Reporting Persons disclaims any beneficial ownership of any of the Subject Securities, except to the extent of any pecuniary interest therein.
- [F6]Anthony F. Massaro, a member of the board of directors of the Issuer of the Subject Securities, was appointed to that board as a representative of PSCM, the other Reporting Persons and the Pershing Square Affiliated Funds. As a result, each of those persons are directors by deputization for purposes of Section 16 of the Exchange Act.
- [F7]These Subject Securities are held by the Pershing Square Affiliated Funds.
- [F8]These Subject Securities are held by RedemptionCo.