Keck Thomas 4

What Happened Keck Thomas, a Portfolio Manager at StepStone Private Markets, received restricted share units (RSUs) and had a vesting/conversion event. The Form 4 shows a grant (derivative acquisition) of 1,162 RSUs on March 14, 2025, and on February 14, 2026, 291 RSUs converted into 291 Class I common shares at a recorded value of $61.41 each (total value ≈ $17,870). The conversion extinguished the corresponding derivative RSU position.

Key Details

• Transaction dates and amounts:
  • 2025-03-14: Grant/other acquisition (code J) — 1,162 RSUs (derivative), $0.00 per share (derivative grant).
  • 2026-02-14: Conversion of derivative security (code C) — 291 RSUs converted to 291 Class I shares, reported at $61.41 each (≈ $17,870 acquired).
  • 2026-02-14: Matching derivative disposition (code C) — 291 derivative units disposed (reflects conversion/settlement).
• Shares owned after transaction: Not specified in the filing.
• Footnotes of note:
  • F1: Each RSU represents a contingent right to one Class I common share.
  • F2: RSUs were granted under StepStone Group LP’s Evergreen Fund Incentive Plan, vest in four roughly equal annual installments starting Feb 14, 2026, and vested shares were directed into a trust where Thomas is trustee and beneficiary.
• Filing timeliness: The Form 4 was filed on 2026-06-24 while the reported transactions occurred between 2025-03-14 and 2026-02-14 — the filing appears late (marked L), which can delay public disclosure of insider activity.
• Exhibit noted: Exhibit 24 — Power of Attorney.

Context This was an award/vesting event (RSUs converting to common shares), not an open-market purchase or sale. Such conversions are routine compensation-related transactions and do not, by themselves, indicate the insider’s market view. The RSUs vest over multiple years per the plan, so additional conversions/issuances may occur as future installments vest.