Perella Weinberg (PWP) CEO Andrew Bednar Converts 968,964 PSUs

What Happened

• Andrew Bednar, Chairman & CEO (also a Director) of Perella Weinberg Partners (PWP), had 968,964 performance-based restricted stock units (PSUs) vest and convert on August 31, 2026. The Form 4 shows 968,964 shares acquired at $0.00 (exercise/conversion of derivative) and the derivative instrument for 968,964 shares reported as disposed (i.e., the PSU award ceased to exist). No cash was paid per the filing and no open-market sale of the resulting shares is reported in this Form 4.

Key Details

• Transaction date: 2026-08-31 (reported on Form 4 filed 2026-09-02)
• Reported price: $0.00 per share (conversion of PSU to common stock)
• Shares involved: 968,964 PSUs converted to 968,964 shares
• Shares owned after transaction: Not specified in the filing
• Relevant footnotes:
  • F1/F2: Each PSU equals a contingent right to one Class A share; vesting depends on service and performance conditions.
  • F2: Performance/price targets were required ($15, $20, $25, $30 thresholds, measured over 20 of any 30 trading days, with linear interpolation) plus service-based vesting schedule (third and fifth anniversaries, 50% holdback after first vesting).
  • F3: The filing states these PSUs vested on August 31, 2026.
• Filing timeliness: Form 4 filed 2026-09-02 for the 2026-08-31 transaction; no late filing flag is indicated in the report.

Context

• This transaction reflects the vesting/conversion of long-term compensation (PSUs) into shares rather than an open-market purchase or sale. Such conversions are routine when award conditions are met and do not by themselves signal buying or selling intent. The PSU terms required both service and performance conditions; the filing indicates those conditions were satisfied and the awards converted to common stock.