STEEL ROBERT K 4

4 · Perella Weinberg Partners · Filed May 20, 2026

AI-generated summary of this filing

Updated May 21, 2026

Perella Weinberg (PWP) Director Robert K. Steel Exercises Units, Sells Shares

What Happened

Robert K. Steel, a director of Perella Weinberg Partners (PWP), converted/exercised PWP OpCo units (derivative/option-type transactions) into Class A shares and then disposed of most of those shares on May 18, 2026.
The filing shows roughly 198,083 Class A shares acquired at $0.00 (plus a small fractional amount) and multiple dispositions: 198,083 shares sold/converted at $18.37 for $3,638,785, a $0.02-per-share disposition of 198,083 shares for $3,962, and a separate small disposition of 2.08 shares for $38. Total reported proceeds from the disclosed dispositions ≈ $3,642,785.
This transaction reflects an exchange/settlement of OpCo units/Class B-1 shares into Class A shares (and some cash settlement), rather than a typical open-market purchase.

Key Details

Transaction date: May 18, 2026; Form 4 filed May 20, 2026 (timely filing).
Principal entries: exercise/conversion of derivatives (code M) and dispositions to issuer (code D).
Prices and proceeds: primary disposition 198,083 shares @ $18.37 = $3,638,785; small additional dispositions totaling ≈ $3,962 and $38; combined ≈ $3.64M.
Shares owned after transaction: not specified in the provided excerpt of the filing.
Notable footnotes: the trades reflect exchanges of PWP OpCo Units for Class A Shares (and in some cases cash). Class B-1 Shares surrendered were converted at a 0.001 Class A Share per Class B Share conversion rate; issuer had the option to settle in cash for some exchanges.
Filing remarks note prior internal reorganizations (transfer/allocation among related partnerships) that did not change the reporting person’s pecuniary interest.

Context

These are derivative conversions/exchanges followed by dispositions (a cash settlement / cashless-style outcome), not necessarily open-market sales to unrelated buyers. For derivative transactions, the filing indicates conversion/exchange of partnership units into common stock and/or cash.
Such transactions often reflect liquidity or structural exchanges tied to corporate/unit conversion rules; they are factual disclosures and do not by themselves indicate the insider’s view of the company’s prospects.

Form 4

Period: 2026-05-18

Director

Transactions

Exercise/Conversion
Class A Common Stock
[F1]
2026-05-18+198,083→ 387,726 total
Exercise/Conversion
Class A Common Stock
[F1]
2026-05-18+198.08→ 387,924.08 total
Disposition to Issuer
Class A Common Stock
[F2]
2026-05-18$18.37/sh−2.08$38→ 387,922 total
Exercise/Conversion
Class B-1 Common Stock
[F3][F1]
2026-05-18$0.02/sh−198,083$3,962→ 0 total(indirect: PWP VoteCo Professionals LP)
→ Class A Common Stock (198.083 underlying)
Exercise/Conversion
PWP Holdings LP Common Units
[F4][F1]
2026-05-18$18.37/sh−198,083$3,638,785→ 0 total
→ Class A Common Stock (198,083 underlying)

Footnotes (4)

[F1]Reflects an exchange of PWP OpCo Units (as defined below) for an equal number of Class A Shares (as defined below). In connection with the exchange, an equal number of Class B-1 Shares (as defined below) were surrendered to the Issuer and converted into Class A Shares at a conversion rate of 0.001 Class A Share for one Class B Share.
[F2]Reflects the settlement of the exchange of PWP OpCo Units and Class B-1 Shares, as applicable, for cash.
[F3]Concurrently with an exchange of PWP Holdings LP Common Units (which represent Class A partnership units of PWP Holdings LP) ("PWP OpCo Units") for shares of Class A common stock ("Class A Shares") or cash by a PWP Holdings LP unitholder ("Unitholder") who also holds shares of Class B-1 common stock ("Class B-1 Shares"), such Unitholder will be required to surrender to the Issuer a number of Class B-1 Shares equal to the number of PWP OpCo Units exchanged, and such Class B-1 Shares will be converted into Class A Shares or, at the option of the Issuer, for an equivalent amount of cash, which will be delivered to such Unitholder at a conversion rate of 0.001 Class A Share for one Class B-1 Share.
[F4]Subject to certain lock-up periods, PWP OpCo Units, upon the surrender of an equal number of Class B-1 Shares, may be exchanged for Class A Shares on a one-for-one basis or, at the option of the Issuer, for an equivalent amount of cash. PWP OpCo Units do not expire.

Signature

/s/ Justin Kamen, as Attorney-in-Fact|2026-05-20

1 file