DeGennaro Steven F. 4

What Happened
Steven F. DeGennaro, EVP and Chief Financial Officer of Marcus & Millichap (MMI), had restricted stock units (RSUs) convert to common stock on March 10, 2026. A total of 16,140 shares were issued upon conversion of RSUs. To satisfy the withholding tax liability, the issuer withheld 6,255 shares (treated as disposals) at the closing price of $26.43, generating $165,320 in tax withholding. That left 9,885 net shares issued to him. The Form 4 was filed on March 12, 2026 (timely).

Key Details

• Transaction date: March 10, 2026; Form 4 filed March 12, 2026.
• RSUs converted (reported as derivative exercise/conversion, code M): 16,140 shares total.
• Shares withheld for taxes (code F): 6,255 shares at $26.43 per share = $165,320.
• Net shares received: 9,885 shares.
• Shares owned after transaction: not specified in the information provided in the summary.
• Notable footnotes:
  • F1: Each RSU converts to one share of common stock.
  • F2: Shares were withheld by the issuer to pay the withholding tax; withholding used the March 10 closing price.
  • F3: Includes 361 shares purchased under the company’s Employee Stock Purchase Plan (ESP).
  • F4–F7: Vesting schedules for the various RSU grants (multi‑year vesting beginning in 2023–2026).
• Filing timeliness: Report appears timely (filed within two business days of the March 10 transaction).

Context
This was a routine RSU settlement with a cashless-like tax withholding (company withheld shares to cover taxes), not an open-market sale or purchase. For retail investors, RSU settlements are compensation events and don’t necessarily imply bullish or bearish insider trading intent. Transaction codes: M = exercise/conversion of derivative (here, RSU settlement); F = shares withheld/used to pay tax liability.