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| | | | A-1 | | | |
| | | | B-1 | | | |
| | | | C-1 | | | |
| | | | D-1 | | | |
| | | | E-1 | | |
Entire Period | | | Premium to 1-Day | | | Premium to 30-Day | | | Premium/(Discount) to 52-Week High | | |||||||||
25th Percentile | | | | | 10% | | | | | | 21% | | | | | | (4)% | | |
75th Percentile | | | | | 51% | | | | | | 52% | | | | | | 21% | | |
Median | | | | | 18% | | | | | | 33% | | | | | | 7% | | |
Mean | | | | | 31% | | | | | | 41% | | | | | | 7% | | |
Selected Companies | | | Price / Earnings Multiple | | | EV / EBITDA Multiple | | ||||||||||||||||||
| | | 2023E | | | 2024E | | | 2023E | | | 2024E | | ||||||||||||
Median – Brokerage / Wealth | | | | | 10.8x | | | | | | 10.7x | | | | | | 8.2x | | | | | | 7.9x | | |
Median – Discount Brokers | | | | | 17.4 | | | | | | 14.1 | | | | | | 12.7 | | | | | | 11.4 | | |
Median – Tech Enabled Wealth | | | | | 13.6 | | | | | | 12.7 | | | | | | 9.3 | | | | | | 8.6 | | |
| | | Price / CY 2023E EPS | | |||||||||
| | | Mean | | | Median | | ||||||
Independent Broker Dealers(1) | | | | | 12.5x | | | | | | 12.5x | | |
TAMPs | | | | | 20.0x | | | | | | 16.0x | | |
Multi-Affiliate Asset Managers | | | | | 7.5x | | | | | | 7.4x | | |
Announced | | | Acquiror | | | Target | |
March 2019 | | | Blucora, Inc. | | | 1st Global, Inc. | |
April 2018 | | | Hellman & Friedman LLC | | | Financial Engines Inc. | |
April 2017 | | | Stone Point Capital LLC/ Kohlberg Kravis Roberts & Co. LP | | | Focus Financial Partners, LLC | |
October 2015 | | | Blucora, Inc. | | | HD Vest Financial Services Inc. | |
November 2015 | | | Financial Engines Inc. | | | The Mutual Fund Store LLC | |
November 2019 | | | Advisor Group, Inc. | | | Ladenburg Thalmann Financial Services Inc. | |
December 2020 | | | LPL Financial Holdings Inc./ Macquarie Management Holdings, Inc. | | | Waddell & Reed Financial, Inc. | |
Announced | | | Acquiror | | | Target | |
April 2017 | | | Huatai Securities Co., Ltd. | | | Assetmark Inc. | |
Announced | | | Acquiror | | | Target | |
October 2020 | | | Morgan Stanley | | | Eaton Vance Corp. | |
February 2020 | | | Virtus Investment Partners, Inc. | | | RidgeWorth Investments | |
February 2020 | | | Franklin Resources, Inc. | | | Legg Mason, Inc. | |
November 2018 | | | Victory Capital Holdings Inc. | | | USAA Asset Management Company | |
($ in millions except per share data) | | | 2023E | | | 2024E | | | 2025E | | | 2026E | | | 2027E | | |||||||||||||||
Revenue | | | | $ | 2,450 | | | | | $ | 3,012 | | | | | $ | 3,661 | | | | | $ | 4,415 | | | | | $ | 5,251 | | |
Adjusted EBITDA(1) | | | | | 628 | | | | | | 792 | | | | | | 1,018 | | | | | | 1,286 | | | | | | 1,586 | | |
Adjusted EBITA After Non-Cash Equity Compensation Expense(2) | | | | | 576 | | | | | | 740 | | | | | | 957 | | | | | | 1,212 | | | | | | 1,500 | | |
Net Operating Profit After Tax(3) | | | | | 134 | | | | | | 208 | | | | | | 317 | | | | | | 455 | | | | | | 626 | | |
Unlevered Free Cash Flow (Before Acquisition-Related Capital Deployment)(4)(6) | | | | | 443 | | | | | | 549 | | | | | | 705 | | | | | | 891 | | | | | | 1,100 | | |
Unlevered Free Cash Flow (After Acquisition-Related Capital Deployment)(5)(6) | | | | | (438) | | | | | | (753) | | | | | | (869) | | | | | | (607) | | | | | | (424) | | |
Pre-Tax Adjusted Net Income(7) | | | | | 418 | | | | | | 504 | | | | | | 687 | | | | | | 948 | | | | | | 1,236 | | |
Adjusted Net Income (Burdened by Non-Cash Equity Compensation Excluding Tax Adjustments)(8) | | | | | 281 | | | | | | 345 | | | | | | 472 | | | | | | 654 | | | | | | 859 | | |
Adjusted Net Income Excluding Tax Adjustments(9) | | | | | 305 | | | | | | 368 | | | | | | 502 | | | | | | 692 | | | | | | 902 | | |
Tax Adjustments(10) | | | | | 71 | | | | | | 87 | | | | | | 107 | | | | | | 129 | | | | | | 152 | | |
Adjusted Net Income Excluding Tax Adjustments Per Share(11) | | | | | 3.59 | | | | | | 4.14 | | | | | | 5.46 | | | | | | 7.32 | | | | | | 9.36 | | |
Tax Adjustments Per Share(12) | | | | | 0.84 | | | | | | 0.98 | | | | | | 1.16 | | | | | | 1.37 | | | | | | 1.57 | | |
Payment Date ($ in millions) | | | Estimated TRA Payment | | | % Benefit to TRA Holders | | | Implied Aggregate Benefit of Tax Attribute | | | Less Payment to TRA Holders | | | TRA Benefit to Company(1) | | |||||||||||||||
02/16/23 | | | | $ | 10 | | | | | | 85.0% | | | | | $ | 11 | | | | | $ | (10) | | | | | $ | 2 | | |
04/15/23 | | | | | 12 | | | | | | 85.0% | | | | | | 15 | | | | | | (12) | | | | | | 2 | | |
04/15/24 | | | | | 13 | | | | | | 85.0% | | | | | | 15 | | | | | | (13) | | | | | | 2 | | |
04/15/25 | | | | | 13 | | | | | | 85.0% | | | | | | 15 | | | | | | (13) | | | | | | 2 | | |
04/15/26 | | | | | 13 | | | | | | 85.0% | | | | | | 16 | | | | | | (13) | | | | | | 2 | | |
04/15/27 | | | | | 14 | | | | | | 85.0% | | | | | | 16 | | | | | | (14) | | | | | | 2 | | |
04/15/28 | | | | | 14 | | | | | | 85.0% | | | | | | 16 | | | | | | (14) | | | | | | 2 | | |
04/16/29 | | | | | 23 | | | | | | 85.0% | | | | | | 27 | | | | | | (23) | | | | | | 4 | | |
04/16/30 | | | | | 14 | | | | | | 85.0% | | | | | | 17 | | | | | | (14) | | | | | | 3 | | |
04/16/31 | | | | | 15 | | | | | | 85.0% | | | | | | 18 | | | | | | (15) | | | | | | 3 | | |
04/15/32 | | | | | 15 | | | | | | 85.0% | | | | | | 18 | | | | | | (15) | | | | | | 3 | | |
04/16/33 | | | | | 15 | | | | | | 85.0% | | | | | | 18 | | | | | | (15) | | | | | | 3 | | |
04/16/34 | | | | | 15 | | | | | | 85.0% | | | | | | 18 | | | | | | (15) | | | | | | 3 | | |
04/16/35 | | | | | 15 | | | | | | 85.0% | | | | | | 18 | | | | | | (15) | | | | | | 3 | | |
04/15/36 | | | | | 16 | | | | | | 85.0% | | | | | | 19 | | | | | | (16) | | | | | | 3 | | |
04/16/37 | | | | | 9 | | | | | | 85.0% | | | | | | 11 | | | | | | (9) | | | | | | 2 | | |
04/16/38 | | | | | 2 | | | | | | 85.0% | | | | | | 3 | | | | | | (2) | | | | | | 0 | | |
04/16/39 | | | | | 1 | | | | | | 85.0% | | | | | | 1 | | | | | | (1) | | | | | | 0 | | |
04/15/40 | | | | | 0 | | | | | | 85.0% | | | | | | 0 | | | | | | (0) | | | | | | 0 | | |
04/16/41 | | | | | 0 | | | | | | 85.0% | | | | | | 0 | | | | | | (0) | | | | | | 0 | | |
Total | | | | $ | 230 | | | | | | | | | | | $ | 271 | | | | | $ | (230) | | | | | $ | 41 | | |
Payment Date ($ in millions) | | | Estimated TRA Payment | | | % Benefit to TRA Holders | | | Implied Aggregate Benefit of Tax Attribute | | | Less Payment to TRA Holders | | | TRA Benefit to Company(1) | | |||||||||||||||
02/13/23 | | | | $ | 0 | | | | | | 85.0% | | | | | $ | 0 | | | | | $ | 0 | | | | | $ | 0 | | |
04/15/24 | | | | | 15 | | | | | | 85.0% | | | | | | 18 | | | | | | (15) | | | | | | 3 | | |
04/15/25 | | | | | 15 | | | | | | 85.0% | | | | | | 18 | | | | | | (15) | | | | | | 3 | | |
04/15/26 | | | | | 16 | | | | | | 85.0% | | | | | | 18 | | | | | | (16) | | | | | | 3 | | |
04/15/27 | | | | | 16 | | | | | | 85.0% | | | | | | 19 | | | | | | (16) | | | | | | 3 | | |
04/14/28 | | | | | 16 | | | | | | 85.0% | | | | | | 19 | | | | | | (16) | | | | | | 3 | | |
04/15/29 | | | | | 25 | | | | | | 85.0% | | | | | | 30 | | | | | | (25) | | | | | | 4 | | |
04/15/30 | | | | | 17 | | | | | | 85.0% | | | | | | 20 | | | | | | (17) | | | | | | 3 | | |
04/15/31 | | | | | 18 | | | | | | 85.0% | | | | | | 21 | | | | | | (18) | | | | | | 3 | | |
04/14/32 | | | | | 18 | | | | | | 85.0% | | | | | | 22 | | | | | | (18) | | | | | | 3 | | |
Payment Date ($ in millions) | | Estimated TRA Payment | | % Benefit to TRA Holders | | Implied Aggregate Benefit of Tax Attribute | | Less Payment to TRA Holders | | TRA Benefit to Company(1) | | | Estimated TRA Payment | | % Benefit to TRA Holders | | Implied Aggregate Benefit of Tax Attribute | | Less Payment to TRA Holders | | TRA Benefit to Company(1) | | ||||||||||||||||||||||||||||||||||||||||
02/13/23 | | | $ | 0 | | | | | 85.0% | | | | $ | 0 | | | | $ | 0 | | | | $ | 0 | | | ||||||||||||||||||||||||||||||||||||
04/15/24 | | | | 15 | | | | | 85.0% | | | | | 18 | | | | | (15) | | | | | 3 | | | ||||||||||||||||||||||||||||||||||||
04/15/25 | | | | 15 | | | | | 85.0% | | | | | 18 | | | | | (15) | | | | | 3 | | | ||||||||||||||||||||||||||||||||||||
04/15/26 | | | | 16 | | | | | 85.0% | | | | | 18 | | | | | (16) | | | | | 3 | | | ||||||||||||||||||||||||||||||||||||
04/15/27 | | | | 16 | | | | | 85.0% | | | | | 19 | | | | | (16) | | | | | 3 | | | ||||||||||||||||||||||||||||||||||||
04/14/28 | | | | 16 | | | | | 85.0% | | | | | 19 | | | | | (16) | | | | | 3 | | | ||||||||||||||||||||||||||||||||||||
04/15/29 | | | | 25 | | | | | 85.0% | | | | | 30 | | | | | (25) | | | | | 4 | | | ||||||||||||||||||||||||||||||||||||
04/15/30 | | | | 17 | | | | | 85.0% | | | | | 20 | | | | | (17) | | | | | 3 | | | ||||||||||||||||||||||||||||||||||||
04/15/31 | | | | 18 | | | | | 85.0% | | | | | 21 | | | | | (18) | | | | | 3 | | | ||||||||||||||||||||||||||||||||||||
04/14/32 | | | | 18 | | | | | 85.0% | | | | | 22 | | | | | (18) | | | | | 3 | | | ||||||||||||||||||||||||||||||||||||
04/15/33 | | | | 19 | | | | | 85.0% | | | | | 22 | | | | | (19) | | | | | 3 | | | | | | 19 | | | | | 85.0% | | | | | 22 | | | | | (19) | | | | | 3 | | | ||||||||||
04/15/34 | | | | 20 | | | | | 85.0% | | | | | 24 | | | | | (20) | | | | | 4 | | | | | | 20 | | | | | 85.0% | | | | | 24 | | | | | (20) | | | | | 4 | | | ||||||||||
04/15/35 | | | | 21 | | | | | 85.0% | | | | | 24 | | | | | (21) | | | | | 4 | | | | | | 21 | | | | | 85.0% | | | | | 24 | | | | | (21) | | | | | 4 | | | ||||||||||
04/14/36 | | | | 22 | | | | | 85.0% | | | | | 26 | | | | | (22) | | | | | 4 | | | | | | 22 | | | | | 85.0% | | | | | 26 | | | | | (22) | | | | | 4 | | | ||||||||||
04/15/37 | | | | 24 | | | | | 85.0% | | | | | 28 | | | | | (24) | | | | | 4 | | | | | | 24 | | | | | 85.0% | | | | | 28 | | | | | (24) | | | | | 4 | | | ||||||||||
04/15/38 | | | | 28 | | | | | 85.0% | | | | | 33 | | | | | (28) | | | | | 5 | | | | | | 28 | | | | | 85.0% | | | | | 33 | | | | | (28) | | | | | 5 | | | ||||||||||
04/15/39 | | | | 6 | | | | | 85.0% | | | | | 8 | | | | | (6) | | | | | 1 | | | | | | 6 | | | | | 85.0% | | | | | 8 | | | | | (6) | | | | | 1 | | | ||||||||||
04/14/40 | | | | 1 | | | | | 85.0% | | | | | 2 | | | | | (1) | | | | | 0 | | | | | | 1 | | | | | 85.0% | | | | | 2 | | | | | (1) | | | | | 0 | | | ||||||||||
04/15/41 | | | | 1 | | | | | 85.0% | | | | | 1 | | | | | (1) | | | | | 0 | | | | | | 1 | | | | | 85.0% | | | | | 1 | | | | | (1) | | | | | 0 | | | ||||||||||
Total | | | $ | 300 | | | | | | | | | $ | 353 | | | | $ | (300) | | | | $ | 53 | | | | | $ | 300 | | | | | | | | | $ | 353 | | | | $ | (300) | | | | $ | 53 | | | ||||||||||
|
Year ($ in millions) | | | Tax Basis Intangible Amortization | | | Tax Rate | | | Tax Cash Benefit(1) | | |||||||||
2023 | | | | $ | 264 | | | | | | 27.0% | | | | | $ | 71 | | |
2024 | | | | | 323 | | | | | | 27.0% | | | | | | 87 | | |
2025 | | | | | 397 | | | | | | 27.0% | | | | | | 107 | | |
2026 | | | | | 480 | | | | | | 27.0% | | | | | | 129 | | |
2027 | | | | | 561 | | | | | | 27.0% | | | | | | 152 | | |
2028 | | | | | 598 | | | | | | 27.0% | | | | | | 161 | | |
2029 | | | | | 595 | | | | | | 27.0% | | | | | | 161 | | |
2030 | | | | | 589 | | | | | | 27.0% | | | | | | 159 | | |
2031 | | | | | 575 | | | | | | 27.0% | | | | | | 155 | | |
2032 | | | | | 560 | | | | | | 27.0% | | | | | | 151 | | |
2033 | | | | | 537 | | | | | | 27.0% | | | | | | 145 | | |
2034 | | | | | 503 | | | | | | 27.0% | | | | | | 136 | | |
2035 | | | | | 483 | | | | | | 27.0% | | | | | | 130 | | |
2036 | | | | | 445 | | | | | | 27.0% | | | | | | 120 | | |
Year ($ in millions) | | Tax Basis Intangible Amortization | | Tax Rate | | Tax Cash Benefit(1) | | | Tax Basis Intangible Amortization | | Tax Rate | | Tax Cash Benefit(1) | | ||||||||||||||||||||||||
2023 | | | $ | 264 | | | | | 27.0% | | | | $ | 71 | | | ||||||||||||||||||||||
2024 | | | | 323 | | | | | 27.0% | | | | | 87 | | | ||||||||||||||||||||||
2025 | | | | 397 | | | | | 27.0% | | | | | 107 | | | ||||||||||||||||||||||
2026 | | | | 480 | | | | | 27.0% | | | | | 129 | | | ||||||||||||||||||||||
2027 | | | | 561 | | | | | 27.0% | | | | | 152 | | | ||||||||||||||||||||||
2028 | | | | 598 | | | | | 27.0% | | | | | 161 | | | ||||||||||||||||||||||
2029 | | | | 595 | | | | | 27.0% | | | | | 161 | | | ||||||||||||||||||||||
2030 | | | | 589 | | | | | 27.0% | | | | | 159 | | | ||||||||||||||||||||||
2031 | | | | 575 | | | | | 27.0% | | | | | 155 | | | ||||||||||||||||||||||
2032 | | | | 560 | | | | | 27.0% | | | | | 151 | | | ||||||||||||||||||||||
2033 | | | | 537 | | | | | 27.0% | | | | | 145 | | | ||||||||||||||||||||||
2034 | | | | 503 | | | | | 27.0% | | | | | 136 | | | ||||||||||||||||||||||
2035 | | | | 483 | | | | | 27.0% | | | | | 130 | | | ||||||||||||||||||||||
2036 | | | | 445 | | | | | 27.0% | | | | | 120 | | | ||||||||||||||||||||||
2037 | | | | 377 | | | | | 27.0% | | | | | 102 | | | | | | 377 | | | | | 27.0% | | | | | 102 | | | ||||||
2038 | | | | 342 | | | | | 27.0% | | | | | 92 | | | | | | 342 | | | | | 27.0% | | | | | 92 | | | ||||||
2039 | | | | 279 | | | | | 27.0% | | | | | 75 | | | | | | 279 | | | | | 27.0% | | | | | 75 | | | ||||||
2040 | | | | 203 | | | | | 27.0% | | | | | 55 | | | | | | 203 | | | | | 27.0% | | | | | 55 | | | ||||||
2041 | | | | 119 | | | | | 27.0% | | | | | 32 | | | | | | 119 | | | | | 27.0% | | | | | 32 | | | ||||||
2042 | | | | 34 | | | | | 27.0% | | | | | 9 | | | | | | 34 | | | | | 27.0% | | | | | 9 | | | ||||||
Total | | | $ | 8,265 | | | | | | | | | $ | 2,232 | | | | | $ | 8,265 | | | | | | | | | $ | 2,232 | | | ||||||
|
($ in millions except per share data) | | | 2023E | | | 2024E | | | 2025E | | | 2026E | | | 2027E | | |||||||||||||||
Revenue | | | | $ | 2,450 | | | | | $ | 3,012 | | | | | $ | 3,668 | | | | | $ | 4,597 | | | | | $ | 5,785 | | |
Adjusted EBITDA(1) | | | | | 628 | | | | | | 792 | | | | | | 1,020 | | | | | | 1,339 | | | | | | 1,741 | | |
Pre-Tax Adjusted Net Income(2) | | | | | 418 | | | | | | 504 | | | | | | 689 | | | | | | 965 | | | | | | 1,298 | | |
Adjusted Net Income Excluding Tax Adjustments(3) | | | | | 305 | | | | | | 368 | | | | | | 503 | | | | | | 704 | | | | | | 947 | | |
Tax Adjustments(4) | | | | | 71 | | | | | | 87 | | | | | | 107 | | | | | | 139 | | | | | | 179 | | |
Adjusted Net Income Excluding Tax Adjustments Per Share(5) | | | | | 3.59 | | | | | | 4.14 | | | | | | 5.46 | | | | | | 7.39 | | | | | | 9.69 | | |
Tax Adjustments Per Share(6) | | | | | 0.84 | | | | | | 0.98 | | | | | | 1.17 | | | | | | 1.46 | | | | | | 1.83 | | |
($ in millions except per share data) | | | 2023E | | | 2024E | | | 2025E | | | 2026E | | | 2027E | | |||||||||||||||
Revenue | | | | $ | 2,450 | | | | | $ | 3,012 | | | | | $ | 3,668 | | | | | $ | 4,597 | | | | | $ | 5,785 | | |
Adjusted EBITDA(1) | | | | | 628 | | | | | | 792 | | | | | | 1,020 | | | | | | 1,339 | | | | | | 1,741 | | |
($ in millions except per share data) | | | 2023E | | | 2024E | | | 2025E | | | 2026E | | | 2027E | | |||||||||||||||
Pre-Tax Adjusted Net Income(2) | | | | | 418 | | | | | | 504 | | | | | | 689 | | | | | | 965 | | | | | | 1,298 | | |
Adjusted Net Income Excluding Tax Adjustments(3) | | | | | 305 | | | | | | 368 | | | | | | 503 | | | | | | 704 | | | | | | 947 | | |
Tax Adjustments(4) | | | | | 71 | | | | | | 87 | | | | | | 107 | | | | | | 139 | | | | | | 179 | | |
Adjusted Net Income Excluding Tax Adjustments Per Share(5) | | | | | 3.59 | | | | | | 4.14 | | | | | | 5.46 | | | | | | 7.39 | | | | | | 9.69 | | |
Tax Adjustments Per Share(6) | | | | | 0.84 | | | | | | 0.98 | | | | | | 1.17 | | | | | | 1.46 | | | | | | 1.83 | | |
($ in millions except per share data) | | | 2023E | | | 2024E | | | 2025E | | | 2026E | | | 2027E | | |||||||||||||||
Revenue | | | | $ | 2,415 | | | | | $ | 2,967 | | | | | $ | 3,644 | | | | | $ | 4,397 | | | | | $ | 5,232 | | |
Adjusted EBITDA(1) | | | | | 614 | | | | | | 778 | | | | | | 1,013 | | | | | | 1,279 | | | | | | 1,579 | | |
Pre-Tax Adjusted Net Income(2) | | | | | 406 | | | | | | 496 | | | | | | 681 | | | | | | 942 | | | | | | 1,229 | | |
Adjusted Net Income Excluding Tax Adjustments(3) | | | | | 297 | | | | | | 362 | | | | | | 497 | | | | | | 688 | | | | | | 897 | | |
Tax Adjustments(4) | | | | | 71 | | | | | | 86 | | | | | | 107 | | | | | | 129 | | | | | | 152 | | |
Adjusted Net Income Excluding Tax Adjustments Per Share(5) | | | | | 3.45 | | | | | | 4.03 | | | | | | 5.33 | | | | | | 7.17 | | | | | | 9.17 | | |
Tax Adjustments Per Share(6) | | | | | 0.82 | | | | | | 0.96 | | | | | | 1.15 | | | | | | 1.35 | | | | | | 1.55 | | |
($ in millions except per share data) | | | 2023E | | | 2024E | | | 2025E | | | 2026E | | | 2027E | | |||||||||||||||
Revenue | | | | $ | 2,250 | | | | | $ | 2,745 | | | | | $ | 3,547 | | | | | $ | 4,518 | | | | | $ | 5,700 | | |
Adjusted EBITDA(1) | | | | | 569 | | | | | | 728 | | | | | | 1,004 | | | | | | 1,338 | | | | | | 1,738 | | |
Pre-Tax Adjusted Net Income(2) | | | | | 372 | | | | | | 444 | | | | | | 659 | | | | | | 953 | | | | | | 1,280 | | |
Adjusted Net Income Excluding Tax Adjustments(3) | | | | | 272 | | | | | | 324 | | | | | | 481 | | | | | | 696 | | | | | | 935 | | |
Tax Adjustments(4) | | | | | 72 | | | | | | 85 | | | | | | 109 | | | | | | 142 | | | | | | 181 | | |
Adjusted Net Income Excluding Tax Adjustments Per Share(5) | | | | | 3.22 | | | | | | 3.69 | | | | | | 5.24 | | | | | | 7.38 | | | | | | 9.79 | | |
Tax Adjustments Per Share(6) | | | | | 0.85 | | | | | | 0.96 | | | | | | 1.19 | | | | | | 1.50 | | | | | | 1.90 | | |
Named Executive Officer | | | Cash ($)(1) | | | Equity Awards ($)(2) | | | Perquisites / Benefits(3) | | | Total ($) | | ||||||||||||
Ruediger Adolf | | | | $ | 4,594,347 | | | | | $ | 16,441,483 | | | | | $ | 51,420 | | | | | $ | 21,087,250 | | |
Rajini Sundar Kodialam | | | | | 3,014,469 | | | | | | 12,241,887 | | | | | | 50,852 | | | | | | 15,307,208 | | |
Leonard Chang | | | | | 1,699,752 | | | | | | 10,735,193 | | | | | | 37,900 | | | | | | 12,472,845 | | |
James Shanahan | | | | | 1,558,446 | | | | | | 9,539,996 | | | | | | 51,420 | | | | | | 11,149,862 | | |
J. Russell McGranahan | | | | | 1,394,400 | | | | | | 8,732,312 | | | | | | 51,252 | | | | | | 10,177,964 | | |
Named Executive Officer | | | Cash Severance ($) | | | Prorated Bonus ($) | | | Total ($) | | |||||||||
Ruediger Adolf | | | | $ | 4,091,198 | | | | | $ | 503,149 | | | | | $ | 4,594,347 | | |
Rajini Sundar Kodialam | | | | | 2,684,340 | | | | | | 330,129 | | | | | | 3,014,469 | | |
Leonard Chang | | | | | 1,435,026 | | | | | | 264,726 | | | | | | 1,699,752 | | |
James Shanahan | | | | | 1,336,543 | | | | | | 221,903 | | | | | | 1,558,446 | | |
J. Russell McGranahan | | | | | 1,195,855 | | | | | | 198,545 | | | | | | 1,394,400 | | |
Named Executive Officer | | | Cash Severance ($) | | | Prorated Bonus ($) | | | Total ($) | | |||||||||
Ruediger Adolf | | | | $ | 4,091,198 | | | | | $ | 503,149 | | | | | $ | 4,594,347 | | |
Rajini Sundar Kodialam | | | | | 2,684,340 | | | | | | 330,129 | | | | | | 3,014,469 | | |
Leonard Chang | | | | | 1,435,026 | | | | | | 264,726 | | | | | | 1,699,752 | | |
James Shanahan | | | | | 1,336,543 | | | | | | 221,903 | | | | | | 1,558,446 | | |
J. Russell McGranahan | | | | | 1,195,855 | | | | | | 198,545 | | | | | | 1,394,400 | | |
Description | | | Amount | | |||
Financial advisory fees and expenses(1) | | | | $ | 30,104,000.00 | | |
Legal fees and other professional fees and expenses(2) | | | | $ | 18,093,000.00 | | |
SEC filing fees | | | | $ | 510,083.74 | | |
Printing, proxy solicitation, filing and mailing costs | | | | $ | 208,000.00 | | |
Miscellaneous | | | | $ | 1,769,000.00 | | |
Total | | | | $ | 50,684,083.74 | | |
Named Executive Officer | | | Cash ($)(1) | | | Equity Awards ($)(2) | | | Perquisites / Benefits(3) | | | Total ($) | | ||||||||||||
Ruediger Adolf | | | | $ | 4,594,347 | | | | | $ | 16,441,483 | | | | | $ | 51,420 | | | | | $ | 21,087,250 | | |
Rajini Sundar Kodialam | | | | | 3,014,469 | | | | | | 12,241,887 | | | | | | 50,852 | | | | | | 15,307,208 | | |
Leonard Chang | | | | | 1,699,752 | | | | | | 10,735,193 | | | | | | 37,900 | | | | | | 12,472,845 | | |
James Shanahan | | | | | 1,558,446 | | | | | | 9,539,996 | | | | | | 51,420 | | | | | | 11,149,862 | | |
J. Russell McGranahan | | | | | 1,394,400 | | | | | | 8,732,312 | | | | | | 51,252 | | | | | | 10,177,964 | | |
Named Executive Officer | | | Cash Severance ($) | | | Prorated Bonus ($) | | | Total ($) | | |||||||||
Ruediger Adolf | | | | $ | 4,091,198 | | | | | $ | 503,149 | | | | | $ | 4,594,347 | | |
Rajini Sundar Kodialam | | | | | 2,684,340 | | | | | | 330,129 | | | | | | 3,014,469 | | |
Leonard Chang | | | | | 1,435,026 | | | | | | 264,726 | | | | | | 1,699,752 | | |
James Shanahan | | | | | 1,336,543 | | | | | | 221,903 | | | | | | 1,558,446 | | |
J. Russell McGranahan | | | | | 1,195,855 | | | | | | 198,545 | | | | | | 1,394,400 | | |
Description | | | Amount | | |||
Financial advisory fees and expenses(1) | | | | $ | 30,104,000.00 | | |
Legal fees and other professional fees and expenses(2) | | | | $ | 18,093,000.00 | | |
SEC filing fees | | | | $ | 510,083.74 | | |
Printing, proxy solicitation, filing and mailing costs | | | | $ | 208,000.00 | | |
Miscellaneous | | | | $ | 1,769,000.00 | | |
Total | | | | $ | 50,684,083.74 | | |
Named Executive Officer | | | Cash ($)(1) | | | Equity Awards ($)(2) | | | Perquisites / Benefits(3) | | | Total ($) | | ||||||||||||
Ruediger Adolf | | | | $ | 4,594,347 | | | | | $ | 16,441,483 | | | | | $ | 51,420 | | | | | $ | 21,087,250 | | |
Rajini Sundar Kodialam | | | | | 3,014,469 | | | | | | 12,241,887 | | | | | | 50,852 | | | | | | 15,307,208 | | |
Leonard Chang | | | | | 1,699,752 | | | | | | 10,735,193 | | | | | | 37,900 | | | | | | 12,472,845 | | |
James Shanahan | | | | | 1,558,446 | | | | | | 9,539,996 | | | | | | 51,420 | | | | | | 11,149,862 | | |
J. Russell McGranahan | | | | | 1,394,400 | | | | | | 8,732,312 | | | | | | 51,252 | | | | | | 10,177,964 | | |
Named Executive Officer | | | Cash Severance ($) | | | Prorated Bonus ($) | | | Total ($) | | |||||||||
Ruediger Adolf | | | | $ | 4,091,198 | | | | | $ | 503,149 | | | | | $ | 4,594,347 | | |
Rajini Sundar Kodialam | | | | | 2,684,340 | | | | | | 330,129 | | | | | | 3,014,469 | | |
Leonard Chang | | | | | 1,435,026 | | | | | | 264,726 | | | | | | 1,699,752 | | |
James Shanahan | | | | | 1,336,543 | | | | | | 221,903 | | | | | | 1,558,446 | | |
J. Russell McGranahan | | | | | 1,195,855 | | | | | | 198,545 | | | | | | 1,394,400 | | |
Description | | | Amount | | |||
Financial advisory fees and expenses(1) | | | | $ | 30,104,000.00 | | |
Legal fees and other professional fees and expenses(2) | | | | $ | 18,093,000.00 | | |
SEC filing fees | | | | $ | 510,083.74 | | |
Printing, proxy solicitation, filing and mailing costs | | | | $ | 208,000.00 | | |
Miscellaneous | | | | $ | 1,769,000.00 | | |
Total | | | | $ | 50,684,083.74 | | |
Name | | | Age | | | Position | |
Ruediger Adolf | | | 60 | | | Chief Executive Officer and Chairman | |
Rajini Sundar Kodialam | | | 55 | | | Chief Operating Officer and Director | |
James D. Carey. | | | 56 | | | Independent Director | |
Joseph Feliciani, Jr. | | | 66 | | | Independent Director | |
George S. LeMieux. | | | | | Independent Director | | |
Greg S. Morganroth, MD | | | 58 | | | Independent Director | |
Fayez S. Muhtadie | | | 45 | | | Independent Director | |
Elizabeth R. Neuhoff | | | 53 | | | Independent Director | |
Name | | | Age | | | Position | |
Ruediger Adolf | | | 60 | | | Chief Executive Officer and Chairman | |
Rajini Sundar Kodialam | | | 55 | | | Chief Operating Officer and Director | |
Leonard Chang | | | 48 | | | Senior Managing Director and Head of M&A | |
James Shanahan | | | | | Chief Financial Officer | | |
J. Russell McGranahan | | | | | General Counsel & Corporate Secretary | |
Fiscal Year | | High | | Low | | Dividend Paid | | | High | | Low | | Dividend Paid | | ||||||||||||||||||||||||
2021 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||
First Quarter | | | $ | 56.56 | | | | $ | 40.93 | | | | | — | | | | | $ | 56.56 | | | | $ | 40.93 | | | | | — | | | ||||||
Second Quarter | | | $ | 54.75 | | | | $ | 41.76 | | | | | — | | | | | $ | 54.75 | | | | $ | 41.76 | | | | | — | | | ||||||
Third Quarter | | | $ | 54.42 | | | | $ | 47.21 | | | | | — | | | | | $ | 54.42 | | | | $ | 47.21 | | | | | — | | | ||||||
Fourth Quarter | | | $ | 69.13 | | | | $ | 51.44 | | | | | — | | | | | $ | 69.13 | | | | $ | 51.44 | | | | | — | | | ||||||
2022 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||
First Quarter | | | $ | 62.24 | | | | $ | 42.16 | | | | | — | | | | | $ | 62.24 | | | | $ | 42.16 | | | | | — | | | ||||||
Second Quarter | | | $ | 46.63 | | | | $ | 30.88 | | | | | — | | | | | $ | 46.63 | | | | $ | 30.88 | | | | | — | | | ||||||
Third Quarter | | | $ | 44.41 | | | | $ | 30.86 | | | | | — | | | | | $ | 44.41 | | | | $ | 30.86 | | | | | — | | | ||||||
Fourth Quarter | | | $ | 41.92 | | | | $ | 30.27 | | | | | — | | | | | $ | 41.92 | | | | $ | 30.27 | | | | | — | | | ||||||
2023 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||
First Quarter | | | $ | 52.62 | | | | $ | 37.30 | | | | | — | | | | | $ | 52.62 | | | | $ | 37.30 | | | | | — | | | ||||||
Second Quarter (through [ ], 2023) | | | $ | [ ] | | | | $ | [ ] | | | | | — | | | ||||||||||||||||||||||
Second Quarter (through June 9, 2023) | | | $ | 52.41 | | | | $ | 50.66 | | | | | — | | |
| | Class A Common Stock | | Class B Common Stock | | Combined Voting Power(1) | | | Class A Common Stock | | Class B Common Stock | | Combined Voting Power(1) | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Name of Beneficial Owner | | Number | | % | | Number | | % | | Number | | % | | | Number | | % | | Number | | % | | Number | | % | | ||||||||||||||||||||||||||||||||||||||||||||||||
5% Stockholders: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||
Entities affiliated with Stone Point(2) | | | | 7,798,810 | | | | | [ ]% | | | | | 8,250,165 | | | | | [ ]% | | | | | 16,048,975 | | | | | [ ]% | | | | | | 7,798,810 | | | | | 11.8% | | | | | 8,250,165 | | | | | 65.8% | | | | | 16,048,975 | | | | | 20.4% | | | ||||||||||||
Capital World Investors(3) | | | | 5,451,302 | | | | | [ ]% | | | | | — | | | | | [ ]% | | | | | 5,451,302 | | | | | [ ]% | | | | | | 5,451,302 | | | | | 8.3% | | | | | — | | | | | 0.0% | | | | | 5,451,302 | | | | | 6.9% | | | ||||||||||||
JPMorgan Chase & Co.(4) | | | | 5,157,414 | | | | | [ ]% | | | | | — | | | | | [ ]% | | | | | 5,157,414 | | | | | [ ]% | | | |||||||||||||||||||||||||||||||||||||||||||
Vanguard Group Inc.(5) | | | | 5,085,477 | | | | | [ ]% | | | | | — | | | | | [ ]% | | | | | 5,085,477 | | | | | [ ]% | | | |||||||||||||||||||||||||||||||||||||||||||
BlackRock, Inc.(6) | | | | 3,775,028 | | | | | [ ]% | | | | | — | | | | | [ ]% | | | | | 3,775,028 | | | | | [ ]% | | | |||||||||||||||||||||||||||||||||||||||||||
Vanguard Group Inc.(4) | | | | 5,085,477 | | | | | 7.7% | | | | | — | | | | | 0.0% | | | | | 5,085,477 | | | | | 6.5% | | | |||||||||||||||||||||||||||||||||||||||||||
BlackRock, Inc.(5) | | | | 3,775,028 | | | | | 5.7% | | | | | — | | | | | 0.0% | | | | | 3,775,028 | | | | | 4.8% | | | |||||||||||||||||||||||||||||||||||||||||||
Directors and Named Executive Officers: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||
Ruediger Adolf | | | | — | | | | | [ ]% | | | | | 68,969 | | | | | [ ]% | | | | | 68,969 | | | | | [ ]% | | | | | | — | | | | | 0.0% | | | | | 68,969 | | | | | 0.5% | | | | | 68,969 | | | | | 0.1% | | | ||||||||||||
Rajini Sundar Kodialam | | | | — | | | | | [ ]% | | | | | 6,115 | | | | | [ ]% | | | | | 6,115 | | | | | [ ]% | | | | | | — | | | | | 0.0% | | | | | 6,115 | | | | | 0.0% | | | | | 6,115 | | | | | 0.0% | | | ||||||||||||
J. Russell McGranahan | | | | 1,000 | | | | | [ ]% | | | | | 4,134 | | | | | [ ]% | | | | | 5,134 | | | | | [ ]% | | | | | | 1,000 | | | | | 0.0% | | | | | 4,134 | | | | | 0.0% | | | | | 5,134 | | | | | 0.0% | | | ||||||||||||
Leonard Chang | | | | — | | | | | [ ]% | | | | | 4,161 | | | | | [ ]% | | | | | 4,161 | | | | | [ ]% | | | | | | — | | | | | 0.0% | | | | | 4,161 | | | | | 0.0% | | | | | 4,161 | | | | | 0.0% | | | ||||||||||||
James Shanahan(7) | | | | — | | | | | [ ]% | | | | | 3,845 | | | | | [ ]% | | | | | 3,845 | | | | | [ ]% | | | |||||||||||||||||||||||||||||||||||||||||||
James Shanahan(6) | | | | — | | | | | 0.0% | | | | | 3,845 | | | | | 0.0% | | | | | 3,845 | | | | | 0.0% | | | |||||||||||||||||||||||||||||||||||||||||||
Joseph Feliciani, Jr. | | | | — | | | | | [ ]% | | | | | 1,021 | | | | | [ ]% | | | | | 1,021 | | | | | [ ]% | | | | | | — | | | | | 0.0% | | | | | 1,021 | | | | | 0.0% | | | | | 1,021 | | | | | 0.0% | | | ||||||||||||
Greg S. Morganroth, MD | | | | — | | | | | [ ]% | | | | | 1,021 | | | | | [ ]% | | | | | 1,021 | | | | | [ ]% | | | | | | — | | | | | 0.0% | | | | | 1,021 | | | | | 0.0% | | | | | 1,021 | | | | | 0.0% | | | ||||||||||||
James D. Carey(8) | | | | — | | | | | [ ]% | | | | | — | | | | | [ ]% | | | | | — | | | | | [ ]% | | | |||||||||||||||||||||||||||||||||||||||||||
James D. Carey(7) | | | | — | | | | | 0.0% | | | | | — | | | | | 0.0% | | | | | — | | | | | 0.0% | | | |||||||||||||||||||||||||||||||||||||||||||
George S. LeMieux | | | | — | | | | | [ ]% | | | | | — | | | | | [ ]% | | | | | — | | | | | [ ]% | | | | | | — | | | | | 0.0% | | | | | — | | | | | 0.0% | | | | | — | | | | | 0.0% | | | ||||||||||||
Fayez S. Muhtadie | | | | — | | | | | [ ]% | | | | | — | | | | | [ ]% | | | | | — | | | | | [ ]% | | | | | | — | | | | | 0.0% | | | | | — | | | | | 0.0% | | | | | — | | | | | 0.0% | | | ||||||||||||
Elizabeth R. Neuhoff | | | | — | | | | | [ ]% | | | | | — | | | | | [ ]% | | | | | — | | | | | [ ]% | | | | | | — | | | | | 0.0% | | | | | — | | | | | 0.0% | | | | | — | | | | | 0.0% | | | ||||||||||||
Directors and executive officers as a group (11 individuals)* | | | | 1,000 | | | | | [ ]% | | | | | 89,266 | | | | | [ ]% | | | | | 90,266 | | | | | [ ]% | | | | | | 1,000 | | | | | 0.0% | | | | | 89,266 | | | | | 0.7% | | | | | 90,266 | | | | | 0.1% | | |
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| Annex A | | | Defined Terms | | | ||
| Exhibit A | | | Form of Support Agreement | | | Exhibit A | |
| Exhibit B | | | Form of Exchange Notice | | | Exhibit B | |
| Exhibit C | | | Certificate of Incorporation of the Surviving Company | | | Exhibit C | |
| Exhibit D-1 | | | Form of Affirmative Consent Notice | | | Exhibit D-1 | |
| Exhibit D-2 | | | Form of Negative Consent Notice | | | Exhibit D-2 | |
Term | | | Section | |
2023 Annual Bonus Plans | | | 6.9(c) | |
Action | | | 5.1(h)(i) | |
Affirmative Consent Notice | | | 6.19(a) | |
Agreement | | | Preamble | |
Agreed Early Termination Documents | | | 6.17 | |
Alternative Acquisition Agreement | | | 6.2(e)(iv) | |
Antitrust Law | | | 6.5(f) | |
Applicable Date | | | 5.1(e)(i) | |
Bankruptcy and Equity Exception | | | 5.1(c)(i) | |
Benefit Plans | | | 5.1(i)(i) | |
Bylaws | | | 2.4 | |
BD Associated Person | | | 5.1(y)(v) | |
Cash Sweep Program | | | 5.1(z)(v) | |
CD&R | | | Recitals | |
Certificates of Merger | | | 1.4(a) | |
CFTC Associated Person | | | 5.1(y)(v) | |
Change of Recommendation | | | 6.2(e)(iv) | |
Charter | | | 2.1 | |
Chosen Courts | | | 9.5(a) | |
Client Consent Notices | | | 6.19(a) | |
Closing | | | 1.3 | |
Closing Date | | | 1.3 | |
CMA | | | 6.19(f) | |
Code | | | 4.4(g) | |
Company | | | Preamble | |
Company Board | | | Recitals | |
Company Certificate of Merger | | | 1.4(a) | |
Company Disclosure Schedule | | | 5.1 | |
Company Equity Awards | | | 5.1(b)(ii) | |
Company Liability Limitation | | | 8.2(d)(ii) | |
Company Merger | | | Recitals | |
Company Merger Effective Time | | | 1.4(a) | |
Company Merger Sub | | | Preamble | |
Company Option | | | 4.5(a)(i) | |
Company Permits | | | 5.1(j)(ii) | |
Company Recommendation | | | 5.1(c)(iii) | |
Company Reports Company | | | 5.1(e)(i) | |
Restricted Share | | | 4.5(c) | |
Company RSUs | | | 4.5(b) | |
Company Stock | | | Recitals | |
Term | | | Section | |
Company Stockholders Meeting | | | 6.4 | |
Company Termination Fee | | | 8.2(b) | |
Confidential Information | | | 5.1(q)(i) | |
Confidentiality Agreement | | | 6.6(b) | |
Contingent Cash Award | | | 4.5(a)(ii) | |
Continuing Employee | | | 6.9(a) | |
Contract | | | 5.1(d)(ii) | |
Data Security Requirements | | | 5.1(q)(iii) | |
Debt Financing | | | 6.18(a) | |
Debt Marketing Materials | | | 6.18(a)(iii) | |
Disqualification Events | | | 5.1(y)(viii) | |
D&O Insurance | | | 6.11(c) | |
DGCL | | | Recitals | |
DLLCA | | | Recitals | |
Dissenting Shares | | | 4.2(a) | |
DOJ | | | 6.5(b) | |
Draft Early Termination Documents | | | 6.17 | |
DTC | | | 4.4(c)(i) | |
Enforcement Costs | | | 8.2(c) | |
Equity Commitment Letters | | | 5.2(f)(i) | |
Equity Financing | | | 5.2(f)(i) | |
ERISA | | | 5.1(i)(i) | |
ERISA Client | | | 5.1(x)(ii) | |
Exchange Act | | | 5.1(d)(i) | |
Excluded Benefits | | | 6.9(a) | |
Excluded Shares | | | 4.2(a) | |
Excluded Units | | | 4.3(a) | |
Existing Stockholders | | | Recitals | |
Financing Conditions | | | 5.2(f)(ii) | |
FINRA Approvals | | | 6.19(f) | |
Focus LLC | | | Preamble | |
Fund Board | | | 6.19(c)(i) | |
FTC | | | 6.5(b) | |
Go-Shop Period | | | 6.2(a) | |
Governmental Authority | | | 5.1(d)(i) | |
Guarantees | | | Recitals | |
Guarantor | | | Recitals | |
HSR Act | | | 5.1(d)(i) | |
Indemnified Party or Indemnified Parties | | | 6.11(a) | |
Independent Expert | | | 6.17 | |
Insurance Policies | | | 5.1(r) | |
Interim Advisory Contract | | | 6.19(c)(i) | |
International Plan | | | 5.1(i)(vi) | |
Term | | | Section | |
Intervening Event | | | 6.2(f)(ii) | |
IRS | | | 5.1(i)(i) | |
Labor Agreement | | | 5.1(p)(i) | |
Laws | | | 5.1(j)(i) | |
LLC Certificate of Merger | | | 1.4(a) | |
LLC Merger | | | Recitals | |
LLC Merger Effective Time | | | 1.4(a) | |
LLC Merger Sub | | | Preamble | |
Match Period | | | 6.2(f)(i) | |
Material Contract | | | 5.1(k)(i) | |
Maximum Premium | | | 6.11(c) | |
Mergers | | | Recitals | |
Merger Consideration | | | 4.2(a) | |
Multiemployer Plan | | | 5.1(i)(ii) | |
Negative Consent Client | | | 6.19(a) | |
Negative Consent Notice | | | 6.19(a) | |
New York Courts | | | 9.5(a) | |
No-Shop Period Start Date | | | 6.2(a) | |
Objections Statement | | | 6.17 | |
Option Consideration | | | 4.5(a)(i) | |
Order | | | 7.1(c) | |
Outside Date | | | 8.1(b) | |
Parent | | | Preamble | |
Parent Disclosure Schedule | | | 5.2 | |
Parent Liability Limitation | | | 8.2(e) | |
Parties | | | Preamble | |
Paying Agent | | | 4.4(a) | |
Payment Fund | | | 4.4(b) | |
Plan Assets | | | 5.1(x)(i) | |
Plan Clients | | | 5.1(x)(ii) | |
Pre-Closing Period | | | 6.1(a) | |
Preferred Stock | | | 5.1(b)(i) | |
Prospective RIA Subsidiary | | | 6.19(d) | |
Proxy Statement | | | 6.3(a) | |
QPAM Exemption | | | 5.1(x)(ii) | |
Regulation FD | | | 6.18(e) | |
Reimbursement Obligations | | | 6.18(b) | |
Required Amounts | | | 5.2(f)(v) | |
RIA Associated Person | | | 5.1(y)(v) | |
Schedule 13e-3 | | | 6.3(b) | |
Security Incident | | | 5.1(q)(iii) | |
SEC | | | 5.1 | |
SEC Clearance Date | | | 6.3(c) | |
Term | | | Section | |
Securities Act | | | 5.1(d)(i) | |
Service Provider | | | 5.1(i)(i) | |
Similar Law | | | 5.1(x)(i) | |
Special Committee | | | Recitals | |
Specified Acquisition | | | 6.1(d) | |
State BD Approvals | | | 6.19(f) | |
Support Agreement | | | Recitals | |
Surviving Corporation | | | 1.2(a) | |
Surviving LLC | | | 1.2(a) | |
Tail Period | | | 6.11(c) | |
Topco | | | 6.24 | |
Takeover Law | | | 5.1(m) | |
Trade Controls | | | 5.1(j)(iii) | |
Transfer Taxes | | | 9.11 | |
TRA Holder Agreements | | | Recitals | |
Unaffiliated Stockholders | | | Recitals | |
Vested Units Exchanges | | | 1.1(a) | |
WARN Act | | | 5.1(p)(ii) | |
Written Consent Client | | | 6.19(a) | |
Stockholder | | | Class A Owned Shares | | | Class B Owned Shares | | | Owned Units | | |||||||||
Trident FFP LP | | | | | — | | | | | | 8,250,165 | | | | | | 8,250,165 | | |
Trident VI, L.P. | | | | | 955,755 | | | | | | — | | | | | | — | | |
Trident VI Parallel Fund, L.P. | | | | | 6,701,039 | | | | | | — | | | | | | — | | |
Trident VI DE Parallel Fund, L.P. | | | | | 142,016 | | | | | | — | | | | | | — | | |
Stockholder | | | Class A Rollover Shares | | | Class B Rollover Shares | | | Rollover Units | | |||||||||
Trident FFP LP | | | | | — | | | | | | 4,125,083 | | | | | | 4,125,083 | | |
Trident VI, L.P. | | | | | 477,877 | | | | | | — | | | | | | — | | |
Trident VI Parallel Fund, L.P. | | | | | 3,350,520 | | | | | | — | | | | | | — | | |
Trident VI DE Parallel Fund, L.P. | | | | | 71,008 | | | | | | — | | | | | | — | | |
| | | | Jefferies LLC 520 Madison Avenue New York, NY 10022 tel 212.284.2300 Jefferies.com | |
Stockholder | | | Class A Owned Shares | | | Class B Owned Shares | | | Owned Units | | |||||||||
Trident FFP LP | | | | | — | | | | | | 8,250,165 | | | | | | 8,250,165 | | |
Trident VI, L.P. | | | | | 955,755 | | | | | | — | | | | | | — | | |
Trident VI Parallel Fund, L.P. | | | | | 6,701,039 | | | | | | — | | | | | | — | | |
Trident VI DE Parallel Fund, L.P. | | | | | 142,016 | | | | | | — | | | | | | — | | |
Stockholder | | | Class A Rollover Shares | | | Class B Rollover Shares | | | Rollover Units | | |||||||||
Trident FFP LP | | | | | — | | | | | | 4,125,083 | | | | | | 4,125,083 | | |
Trident VI, L.P. | | | | | 477,877 | | | | | | — | | | | | | — | | |
Trident VI Parallel Fund, L.P. | | | | | 3,350,520 | | | | | | — | | | | | | — | | |
Trident VI DE Parallel Fund, L.P. | | | | | 71,008 | | | | | | — | | | | | | — | | |
| | | | Jefferies LLC 520 Madison Avenue New York, NY 10022 tel 212.284.2300 Jefferies.com | |
Stockholder | | | Class A Owned Shares | | | Class B Owned Shares | | | Owned Units | | |||||||||
Trident FFP LP | | | | | — | | | | | | 8,250,165 | | | | | | 8,250,165 | | |
Trident VI, L.P. | | | | | 955,755 | | | | | | — | | | | | | — | | |
Trident VI Parallel Fund, L.P. | | | | | 6,701,039 | | | | | | — | | | | | | — | | |
Trident VI DE Parallel Fund, L.P. | | | | | 142,016 | | | | | | — | | | | | | — | | |
Stockholder | | | Class A Rollover Shares | | | Class B Rollover Shares | | | Rollover Units | | |||||||||
Trident FFP LP | | | | | — | | | | | | 4,125,083 | | | | | | 4,125,083 | | |
Trident VI, L.P. | | | | | 477,877 | | | | | | — | | | | | | — | | |
Trident VI Parallel Fund, L.P. | | | | | 3,350,520 | | | | | | — | | | | | | — | | |
Trident VI DE Parallel Fund, L.P. | | | | | 71,008 | | | | | | — | | | | | | — | | |
| | | | Jefferies LLC 520 Madison Avenue New York, NY 10022 tel 212.284.2300 Jefferies.com | |
Stockholder | | | Class A Owned Shares | | | Class B Owned Shares | | | Owned Units | | |||||||||
Trident FFP LP | | | | | — | | | | | | 8,250,165 | | | | | | 8,250,165 | | |
Trident VI Parallel Fund, L.P. | | | | | 6,701,039 | | | | | | — | | | | | | — | | |
Trident VI, L.P. | | | | | 955,755 | | | | | | — | | | | | | — | | |
Trident VI DE Parallel Fund, L.P. | | | | | 142,016 | | | | | | — | | | | | | — | | |
Stockholder | | | Class A Rollover Shares | | | Class B Rollover Shares | | | Rollover Units | | |||||||||
Trident FFP LP | | | | | — | | | | | | 4,125,083 | | | | | | 4,125,083 | | |
Trident VI, L.P. | | | | | 477,877 | | | | | | — | | | | | | — | | |
Trident VI Parallel Fund, L.P. | | | | | 3,350,520 | | | | | | — | | | | | | — | | |
Trident VI DE Parallel Fund, L.P. | | | | | 71,008 | | | | | | — | | | | | | — | | |
| | | | COMPANY: | | |||
| | | | FOCUS FINANCIAL PARTNERS INC. | | |||
| | | | By: | | | Name: Ruediger Adolf Title: Chief Executive Officer | |
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