Kettnich John Paul 4

What Happened

• John Paul Kettnich, a Portfolio Manager, had RSUs vest and convert into 219 Class I common shares of StepStone Private Markets on 2026-02-14. The conversion was reported at $61.41 per share (total value $13,449). This was an award vesting/conversion of derivative securities, not an open-market purchase or sale.

Key Details

• Transaction types: conversion of derivative security (Code C) and prior derivative acquisition (Code J).
• Dates: RSU grant/derivative acquisition recorded 2025-03-14 (874 RSUs granted); vesting/conversion occurred 2026-02-14 (first installment of 219 RSUs).
• Price/value: 219 shares valued at $61.41 each = $13,449 reported on conversion.
• Disposal line at $0 reflects the settlement/termination of the RSU derivative upon conversion into underlying shares.
• Vesting terms: Grant vests in four substantially equal annual installments beginning February 14, 2026 (so ~219 shares per installment).
• Shares issued to a trust: Upon vesting, the issued Class I shares were directed into a trust for which Kettnich serves as trustee and beneficiary (footnote).
• Shares owned after the transaction: not specified in the filing.
• Filing timeliness: This Form 4 was filed on 2026-06-24 reporting a 2026-02-14 transaction, indicating a late filing relative to the usual 2-business-day requirement.

Context

• This activity reflects standard equity compensation vesting (RSUs converting to common shares), not an open-market trade; such events are routine and do not, by themselves, indicate insider sentiment about the company.
• The total value of the vested shares is modest (~$13.4K) and represents the first installment of a multi-year vesting schedule.