Fernandez Jose A 4
4 · StepStone Group Inc. · Filed Apr 2, 2026
Research Summary
AI-generated summary of this filing
StepStone (STEP) COO Jose Fernandez Exchanges 200,000 Units for Shares
What Happened
Jose A. Fernandez, Chief Operating Officer of StepStone Group Inc. (STEP), converted 200,000 Class B Units of StepStone Group LP into 200,000 shares of StepStone Class A common stock on March 31, 2026. In connection with the exchange, 200,000 shares of Class B common stock of the issuer were automatically redeemed and cancelled; the filing records the redemption at $0.00 per share (aggregate shown as $200). This was an exchange/conversion—not an open-market sale for cash.
Key Details
- Transaction date: March 31, 2026; Form 4 filed April 2, 2026 (appears to be within the normal reporting window).
- Primary actions reported:
- Conversion (acquisition) of 200,000 shares of Class A common stock via exchange of Partnership units.
- Disposition to issuer of 200,000 shares of Class B common stock (automatic redemption/cancellation) recorded at $0.00 per share; aggregate amount on form listed as $200.
- Shares owned after the transaction: not specified in the supplied filing.
- Relevant footnotes:
- F1: The reporting person exchanged 200,000 Class B Units for 200,000 Class A shares; concurrently, 200,000 Class B common shares were redeemed and cancelled.
- F2: Class B Units are exchangeable one-for-one for Class A common stock; upon exchange the corresponding Class B common shares are automatically redeemed.
Context
This filing records a conversion/exchange of partnership units and an automatic corporate redemption — a structural change in the form of the insider's holdings rather than a market sale or purchase for cash. Such exchange transactions typically reflect the holder converting LP units into publicly traded Class A shares; they do not necessarily signal a buy or sell decision in the open market.
Insider Transaction Report
- Conversion
Class A Common Stock
[F1]2026-03-31+200,000→ 200,000 total(indirect: By Trust) - Disposition to Issuer
Class B Common Stock
[F1]2026-03-31$0.00/sh−200,000$200→ 3,016,601 total(indirect: By Trust) - Conversion
Class B Units
[F2][F1]2026-03-31−200,000→ 3,016,601 total(indirect: By Trust)→ Class A Common Stock (200,000 underlying)
- 18,828
Class A Common Stock
- 1,605,500(indirect: By LLC)
Class B Common Stock
- 1,605,500(indirect: By LLC)
Class B Units
[F2]→ Class A Common Stock (1,605,500 underlying)
Footnotes (2)
- [F1]On March 31, 2026, the Reporting Person exchanged 200,000 Class B Units of StepStone Group LP (the "Partnership") for 200,000 shares of Class A Common Stock. In connection with the exchange, 200,000 shares of Class B Common Stock were automatically redeemed and cancelled.
- [F2]The Class B Units are exchangeable, on a one-for-one basis, for shares of Class A Common Stock of the Issuer. Upon exchange of a Class B Unit, the corresponding share of Class B Common Stock of the Issuer will be automatically redeemed and cancelled.