Silvercrest Asset Management Group LLC Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Equity (Tables)

Equity (Tables)

12 Months Ended

Dec. 31, 2023

Summary of Authorized and Outstanding Equity

Silvercrest has the following authorized and outstanding equity:

         
        Shares at December 31, 2023

         
        Authorized

        Outstanding

        Voting Rights

        Economic
Rights

        Common shares

Class A, par value $0.01 per share

50,000,000

9,478,997

1 vote per share (1), (2)

All (1), (2)

Class B, par value $0.01 per share

25,000,000

4,431,105

1 vote per share (3), (4)

None (3), (4)

        Preferred shares

Preferred stock, par value $0.01 per share

10,000,000

—

See footnote (5)
below

See footnote (5)
below

(1)

Each share of Class A common stock is entitled to one vote per share. Class A common stockholders have 100% of the rights of all classes of Silvercrest’s capital stock to receive dividends.

(2)

During 2023 and 2022, Silvercrest granted 11,822 and 10,270 restricted stock units, respectively, which will vest and settle in the form of Class A shares of Silvercrest, of which 35,554 remain unvested as of December 31, 2023.

(3)

Each share of Class B common stock is entitled to one vote per share.

(4)

Each Class B unit of SLP held by a principal is exchangeable for one share of the Company’s Class A common stock. The principals collectively hold 4,431,105 Class B units, which represents the right to receive their proportionate share of the distributions made by SLP and 240,998 restricted stock units which will vest and settle in the form of Class B units of SLP. The 240,998 restricted stock units which have been issued to our principals entitle the holders thereof to participate in distributions from SLP as if the underlying Class B units are outstanding and thus are taken into account to determine the economic interest of each holder of units in SLP. However, because the Class B units underlying the deferred equity units have not been issued and are not deemed outstanding, the holders of deferred equity units have no voting rights with respect to those Class B units. Silvercrest will not issue shares of Class B common stock in respect of deferred equity units of SLP until such time that the underlying Class B units are issued.

(5)

Silvercrest’s board of directors has the authority to issue preferred stock in one or more classes or series and to fix the rights, preferences, privileges and related restrictions, including dividend rights, dividend rates, conversion rights, voting rights, terms of redemption, redemption prices, liquidation preferences and the number of shares constituting any class or series, or the designation of the class or series, without the approval of its stockholders.

Schedule of Common Stock Outstanding

During the year ended December 31, 2023, Silvercrest issued the following shares:

Class A Common Stock


	Transaction	# of
	Date	Shares
Class A common stock outstanding - January 1, 2023			9,559,587
Issuance of Class A common stock upon vesting of restricted stock units	March 2023		8,242
Issuance of Class A common stock upon conversion of Class B units to Class A common stock	March 2023		1,555
Purchase of Class A common stock of Silvercrest Asset Management Group Inc.	March 2023		(95,729	)
Issuance of Class A common stock upon conversion of Class B units to Class A common stock	May 2023		44,669
Purchase of Class A common stock of Silvercrest Asset Management Group Inc.	May 2023		(60,028	)
Issuance of Class A common stock upon conversion of Class B units to Class A common stock	June 2023		21,243
Purchase of Class A common stock Silvercrest Asset Management Group Inc.	June 2023		(106,096	)
Issuance of Class A common stock upon conversion of Class B units to Class A common stock	August 2023		6,636
Purchase of Class A common stock Silvercrest Asset Management Group Inc.	August 2023		(37,820	)
Issuance of Class A common stock upon conversion of Class B units to Class A common stock	November 2023		45,681
Issuance of Class A common stock upon conversion of Class B units to Class A common stock	December 2023		91,057
Class A common shares outstanding - December 31, 2023			9,478,997

Class B Common Stock


	Transaction	# of
	Date	Shares
Class B common stock outstanding - January 1, 2023			4,545,380
Cancellation of Class B common stock upon conversion of Class B units to Class A common stock	March 2023		(1,555	)
Issuance of Class B common stock upon vesting of restricted stock units	May 2023		50,081
Cancellation of Class B common stock upon conversion of Class B units to Class A common stock	May 2023		(44,669	)
Issuance of Class B common stock in connection with the Neosho Acquisition	May 2023		1,376
Cancellation of Class B common stock upon conversion of Class B units to Class A common stock	June 2023		(21,243	)
Cancellation of Class B common stock upon conversion of Class B units to Class A common stock	August 2023		(6,636	)
Issuance of Class B common stock upon exercise of non-qualified options	September 2023		22,070
Issuance of Class B common stock upon vesting of restricted stock units	November 2023		23,039
Cancellation of Class B common stock upon conversion of Class B units to Class A common stock	November 2023		(45,681	)
Cancellation of Class B common stock upon conversion of Class B units to Class A common stock	December 2023		(91,057	)
Class B common shares outstanding - December 31, 2023			4,431,105