Bednar Andrew 4

What Happened

• Andrew Bednar, CEO of Perella Weinberg Partners (PWP), had 474,850 performance-based restricted stock units (PSUs) convert into Class A common stock on Feb 24, 2026.
• To satisfy tax withholding obligations, 15,590 of the newly issued shares were surrendered to the company at $19.35 per share, representing about $301,667. After withholding, roughly 459,260 shares were delivered to Bednar.

Key Details

• Transaction date: 2026-02-24; Filing date: 2026-02-26 (filed within the usual two-business-day Form 4 window).
• Reported transactions: conversion/exercise of derivative (code M) for 474,850 shares @ $0.00 (vesting/conversion of PSUs); disposition for tax withholding (code F) of 15,590 shares @ $19.35 ($301,667).
• Shares owned after transaction: not specified in the provided excerpt of the filing.
• Footnotes of note:
  • F1: The 15,590-share disposition represents withholding to satisfy tax obligations.
  • F2–F4: Each PSU converts to one share; these PSUs were granted 2/24/2023 and vested on 2/24/2026 after meeting service and stock-price performance conditions (price hurdles at $15/$20/$25/$30 measured over 20 of 30 trading days, with service-based vesting installments and holdback rules).

Context

• This was not an open-market sale for diversification or cash proceeds; it was a common cashless-like withholding to cover taxes when performance awards vested. Such withholding is routine and does not necessarily indicate a change in the insider’s view of the company.
• For retail investors, purchases (out-of-pocket buys) are more informative as bullish signals; this filing documents a vesting event and tax withholding.