LIPSEY WILLIAM LOUIS (Pres, Marketing/Client Srvc) reported 3 transactions at PZENA INVESTMENT MANAGEMENT, INC.

Review the transaction codes below to understand the nature of each event.

LIPSEY WILLIAM LOUIS

Filed: 11/2/2022ACC: 0000929638-22-001651

InsiderLIPSEY WILLIAM LOUISCIK 1409995

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IssuerPZENA INVESTMENT MANAGEMENT, INC.CIK 1399249

DirectorOfficer· Pres, Marketing/Client Srvc

Since Dec 2018

-5.85M

Net shares

Net seller

$45.1K

Total sold

Open market trades

0B · 0S

Total transactions

5.85M disposed

Non-Derivative Transactions3

Class A Common Stock, par value $0.01

Indirect

U · U

−4.70K

Price / share

$9.60

Trade value

$45.12K

% of position

New position

10/31/2022

4.70K→0.00

Class B Common Stock, par value $0.000001

Indirect

U · U

−4.58M

Price / share

—

Trade value

—

% of position

New position

10/31/2022

4.58M→0.00

Class B Common Stock, par value $0.000001

Indirect

U · U

−1.27M

Price / share

—

Trade value

—

% of position

New position

10/31/2022

1.27M→0.00

Total

Net shares

−5.85M

Net value

-$45.12K

Security	Date	Type	Shares	Price / Share	Trade Value	% of Position	Held Before	Held After
Class A Common Stock, par value $0.01 Indirect	10/31/2022	U · U	−4.70K	$9.60	$45.12K	New position	4.70K	0.00
Class B Common Stock, par value $0.000001 Indirect	10/31/2022	U · U	−4.58M	—	—	New position	4.58M	0.00
Class B Common Stock, par value $0.000001 Indirect	10/31/2022	U · U	−1.27M	—	—	New position	1.27M	0.00
Total			−5.85M		-$45.12K

Derivative Transactions0

No derivative transactions reported

Non-Derivative Holdings (Post-Transaction)0

No non-derivative holdings reported

Derivative Holdings (Post-Transaction)3

Class B Units

Indirect

Underlying security

None

Underlying shares

4.58M

Shares owned

4.58M

Exercise price

Expiration

—

Exercise window

—

Phantom B Units

Direct

Underlying security

Class B Units

Underlying shares

15.08K

Shares owned

15.08K

Exercise price

Expiration

—

Exercise window

—

Class B Units

Indirect

Underlying security

None

Underlying shares

1.27M

Shares owned

1.27M

Exercise price

Expiration

—

Exercise window

—

Total

Underlying

5.86M

Owned

5.86M

Security	Underlying	Exercise Window	Expiration	Underlying Shares	Shares Owned
Class B Units Indirect	None	—	—	4.58M	4.58M
Phantom B Units Direct	Class B Units	—	—	15.08K	15.08K
Class B Units Indirect	None	—	—	1.27M	1.27M
Total				5.86M	5.86M