PWP Director Robert K. Steel Vests PSUs, Sells 15,298 Shares

What Happened
Robert K. Steel, a director of Perella Weinberg Partners (PWP), had 30,000 performance-based restricted stock units (PSUs) vest on August 31, 2026 and converted them into 30,000 shares. To satisfy tax withholding, 15,298 of those shares were surrendered to the issuer at $16.98 per share for a value of $259,760, leaving a net receipt of 14,702 shares.

Key Details

• Transaction date: August 31, 2026; Form 4 filed September 2, 2026 (appears timely).
• Converted/issued shares: 30,000 PSUs converted to 30,000 shares (reported as exercise/conversion of derivative).
• Shares surrendered for tax withholding: 15,298 shares disposed at $16.98 each, total $259,760 (reported as payment of tax liability).
• Net shares retained by Steel: 14,702 shares (30,000 issued − 15,298 withheld).
• Footnotes: PSUs represent contingent rights to one share each; vesting satisfied on Aug 31, 2026 based on service- and performance-based conditions (including multi-year service vesting schedule and stock-price hurdles of $12, $13.50, $15 and $17 for specified periods).
• Transaction codes: M = conversion/exercise of derivative (PSU conversion); F = shares transferred to issuer to satisfy tax withholding (sell-to-cover), not an open-market sale.

Context
This was a vesting and conversion of performance awards, with a routine sell-to-cover to satisfy tax obligations. Such withholding/surrender actions are administrative and do not necessarily indicate a decision to sell shares on the open market.