0001104659-20-103255.txt : 20200909
0001104659-20-103255.hdr.sgml : 20200909
20200909073114
ACCESSION NUMBER: 0001104659-20-103255
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20200908
FILED AS OF DATE: 20200909
DATE AS OF CHANGE: 20200909
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: Kodialam Rajini Sundar
CENTRAL INDEX KEY: 0001746246
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-38604
FILM NUMBER: 201165414
MAIL ADDRESS:
STREET 1: C/O FOCUS FINANCIAL PARTNERS, INC.
STREET 2: 825 THIRD AVENUE, 27TH FLOOR
CITY: NEW YORK
STATE: NY
ZIP: 10022
ISSUER:
COMPANY DATA:
COMPANY CONFORMED NAME: Focus Financial Partners Inc.
CENTRAL INDEX KEY: 0001651052
STANDARD INDUSTRIAL CLASSIFICATION: INVESTMENT ADVICE [6282]
IRS NUMBER: 474780811
STATE OF INCORPORATION: DE
FISCAL YEAR END: 1231
BUSINESS ADDRESS:
STREET 1: 875 THIRD AVENUE
STREET 2: 28TH FLOOR
CITY: NEW YORK
STATE: NY
ZIP: 10022
BUSINESS PHONE: (646)519-2456
MAIL ADDRESS:
STREET 1: 875 THIRD AVENUE
STREET 2: 28TH FLOOR
CITY: NEW YORK
STATE: NY
ZIP: 10022
4
1
a4.xml
4
X0306
4
2020-09-08
0
0001651052
Focus Financial Partners Inc.
FOCS
0001746246
Kodialam Rajini Sundar
875 THIRD AVENUE, 28TH FLOOR
NEW YORK
NY
10022
1
1
0
0
COO
Class A Common Stock
2020-09-08
4
M
0
260749
A
260749
D
Class A Common Stock
2020-09-08
4
M
0
87574
A
87574
I
By Kodialam 2014 Family Trust
Class A Common Stock
2020-09-08
4
S
0
260749
31.05
D
0
D
Class A Common Stock
2020-09-08
4
S
0
87574
31.05
D
0
I
By Kodialam 2014 Family Trust
Incentive Units in Focus Financial Partners, LLC
9.00
2020-09-08
4
M
0
345348
0
D
Common Units in Focus Financial Partners, LLC
260749
0
D
Incentive Units in Focus Financial Partners, LLC
11.00
2020-09-08
4
M
0
125000
0
D
Common Units in Focus Financial Partners, LLC
87574
215000
I
By Kodialam 2014 Family Trust
Common Units in Focus Financial Partners, LLC
2020-09-08
4
M
0
260749
A
Class A Common Stock
260749
260749
D
Common Units in Focus Financial Partners, LLC
2020-09-08
4
M
0
87574
A
Class A Common Stock
87574
87574
I
By Kodialam 2014 Family Trust
Common Units in Focus Financial Partners, LLC
2020-09-08
4
M
0
260749
D
Class A Common Stock
260749
0
D
Common Units in Focus Financial Partners, LLC
2020-09-08
4
M
0
87574
D
Class A Common Stock
87574
0
I
By Kodialam 2014 Family Trust
On September 8, 2020 (the "Exchange Date"), pursuant to the Fourth Amended and Restated Operating Agreement of Focus Financial Partners, LLC, as amended (the "Fourth Amended and Restated Focus LLC Agreement"), an aggregate of 470,348 of the reporting persons' vested incentive units in Focus Financial Partners, LLC ("Focus LLC") were exchanged for an aggregate of 348,323 shares of the Issuer's Class A common stock. Such incentive units were first converted into a number of common units in Focus LLC that took into account the value of the Issuer's Class A common stock, as calculated pursuant to the Fourth Amended and Restated Focus LLC Agreement, and such incentive units' aggregate hurdle amount, and the resulting common units were then exchanged for an equal number of shares of the Issuer's Class A common stock.
Each incentive unit in Focus LLC entitles the holder to receive distributions from Focus LLC if the aggregate distributions made by Focus LLC in respect of each common unit issued and outstanding on or prior to date of the grant of the incentive unit exceeds a specified amount, referred to as the hurdle amount. The hurdle amount is set at the time of grant and typically represents the estimated fair value of a common unit in Focus LLC on the date of grant. The figure reflected in column 2 is the hurdle amount assigned to each incentive award.
Vested incentive units are exchangeable, subject to certain restrictions in the Fourth Amended and Restated Focus LLC Agreement, for (i) a number of shares of the Issuer's Class A common stock that takes into account the value of the Issuer's Class A common stock, as calculated pursuant to the Fourth Amended and Restated Focus LLC Agreement, and such incentive units' aggregate hurdle amount or, (ii) at the election of the Issuer, cash. Upon exchange, such incentive units are first converted into a number of common units in Focus LLC that takes into account the value of the Issuer's Class A common stock, as calculated pursuant to the Fourth Amended and Restated Focus LLC Agreement, and such incentive units' aggregate hurdle amount, and the resulting common units are then exchanged for an equal number of shares of the Issuer's Class A common stock. Incentive units do not expire.
Represents securities held by the Kodialam 2014 Family Trust, an irrevocable grantor trust established by the reporting person for the benefit of her children. The reporting person disclaims beneficial ownership of the securities owned by the trust except to the extent of her indirect pecuniary interest therein.
/s/ J. Russell McGranahan as Attorney-in-Fact
2020-09-09