0001104659-20-133867.txt : 20201209
0001104659-20-133867.hdr.sgml : 20201209
20201209211806
ACCESSION NUMBER: 0001104659-20-133867
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20201207
FILED AS OF DATE: 20201209
DATE AS OF CHANGE: 20201209
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: Chang Leonard R.
CENTRAL INDEX KEY: 0001796968
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-38604
FILM NUMBER: 201379250
MAIL ADDRESS:
STREET 1: 875 THIRD AVENUE
STREET 2: 28TH 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
tm2038172-2_4seq1.xml
OWNERSHIP DOCUMENT
X0306
4
2020-12-07
0
0001651052
Focus Financial Partners Inc.
FOCS
0001796968
Chang Leonard R.
875 THIRD AVENUE, 28TH FLOOR
NEW YORK
NY
10022
0
1
0
0
Sr. Managing Dir/Head of M&A
Incentive Units in Focus Financial Partners, LLC
44.71
2020-12-07
4
A
0
66212
0
A
Class A Common Stock
66212
D
Common Units in Focus Financial Partners, LLC
2020-12-07
4
A
0
6738
0
A
Class A Common Stock
6738
6738
D
Each incentive unit in Focus Financial Partners, LLC ("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 in Focus LLC 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 on the date of grant. The figure reflected in column 2 is the hurdle amount assigned to each incentive award. Incentive units do not expire.
Unvested incentive units will, at vesting, become exchangeable, subject to certain restrictions in the Fourth Amended and Restated Operating Agreement of Focus LLC, for (i) a number of shares of the Issuer's Class A common stock that takes into account the then-current value of the Issuer's Class A common stock and such incentive units' aggregate hurdle amount or, (ii) at the election of the Issuer, cash. The acquisition of the derivative securities was exempt from Section 16 of the Securities Exchange Act of 1934, as amended.
These incentive units will vest in four equal installments on each anniversary of December 7, 2020.
Unvested common units will, at vesting, become exchangeable, subject to certain restrictions in the Fourth Amended and Restated Operating Agreement of Focus LLC, for (i) an equal number of shares of the Issuer's Class A common stock or, (ii) at the election of the Issuer, cash. The acquisition of the derivative securities was exempt from Section 16 of the Securities Exchange Act of 1934, as amended.
These common units will vest in four equal installments on each anniversary of December 7, 2020.
/s/ J. Russell McGranahan as Attorney-in-Fact
2020-12-09