STPEX Portfolio Manager John Paul Kettnich Receives RSU Award

What Happened

• John Paul Kettnich (listed as Kettnich John Paul), a portfolio manager, was granted 5,442 restricted stock units (RSUs) reported as an "other acquisition or disposition (J)" on 2026-03-13. The filing shows an acquisition of 5,442 RSUs at $0.00 (derivative award), not an open-market purchase. RSUs represent a contingent right to receive one Class I common share per unit upon vesting.

Key Details

• Transaction date: 2026-03-13; Filing accession: 0001193125-26-326537, posted 2026-07-30 (filing appears late vs. the typical 2-business-day Form 4 deadline).
• Quantity and price: 5,442 RSUs acquired, reported at $0.00 (derivative award).
• Vesting/plan notes: Award granted under StepStone Group LP's Evergreen Fund Incentive Plan; RSUs vest in four substantially equal annual installments beginning February 14, 2027 (see footnotes).
• Shares owned after transaction: Not specified in the disclosed extract.
• Transaction code and nature: Reported as code J (other acquisition/disposition) and treated as a derivative award (restricted stock units), not an immediate share purchase or sale.

Context

• RSUs are a form of compensation: they vest over time and convert into actual shares (or cash) only upon vesting, so this grant does not immediately change market-held shares. Grants are common compensation events and should be interpreted as a future potential interest rather than an immediate market buy or sell.
• The filing date lag reduces near-term transparency; late Form 4s are typically administrative issues but are worth noting for compliance and timing.