Villani Edmond D 4

What Happened

• Edmond D. Villani, a director of Cohen & Steers, was granted 353 restricted stock units (RSUs) on 2026-07-01 (recorded at $0). The RSUs are 100% vested on the grant date but, per the filing, the underlying shares will be delivered to him on the third anniversary of the grant.
• On 2026-07-06 Villani transferred 472 shares to the Edmond Dennis Villani Revocable Trust via gift. The Form 4 shows a 472-share disposal by Villani and a corresponding 472-share acquisition by the trust (both at $0), reflecting an intra-family revocable trust transfer rather than an open-market sale.

Key Details

• Transaction dates and types:
  • 2026-07-01: Award/grant of 353 RSUs (code A) — $0 per share (derivative award).
  • 2026-07-06: Gift/transfer of 472 shares to a revocable trust (code G) — $0 per share.
• Vesting/delivery: The 353 RSUs were 100% vested at grant; the related shares will be delivered on the third anniversary of the grant date (footnote F1).
• Beneficial ownership transfer: The 472-share gift was to the Edmond Dennis Villani Revocable Trust, of which Villani and a family member serve as trustees (footnotes F2/F3).
• Filing date: Form filed 2026-07-06. (The filing reports the 7/1 grant and 7/6 transfer; it appears to be filed contemporaneously.)
• No cash proceeds: All transactions are recorded at $0 — this was an award and an intra-family trust transfer, not an open-market sale or purchase.

Context

• RSUs are derivative awards that convert into company shares at settlement; here they are vested immediately but settlement is deferred for three years, so there is no immediate purchase or sale signal.
• Gifts/transfers to a revocable trust generally do not reflect a typical "sell" for liquidity or investment view; revocable trusts often leave the grantor with control or ability to change beneficiaries.
• These transactions do not indicate insider market timing or a purchase-based bullish signal; they are compensation (RSU award) and a private-family trust transfer. For precise post-transaction ownership totals, consult the full Form 4 filing.