LIPSEY WILLIAM LOUIS (Pres, Marketing/Client Srvc) received a stock award from PZENA INVESTMENT MANAGEMENT, INC.

Compensation award — not an open‑market transaction. Less informative as a directional signal.

A · 1 award

LIPSEY WILLIAM LOUIS

Filed: 1/4/2022ACC: 0001567619-22-000273

InsiderLIPSEY WILLIAM LOUISCIK 1409995

→

IssuerPZENA INVESTMENT MANAGEMENT, INC.CIK 1399249

DirectorOfficer· Pres, Marketing/Client Srvc

Since Dec 2018

+115.08K

Net shares

Net buyer

$0.00

Total acquired

Open market trades

0B · 0S

Total transactions

430.15K acquired · 315.07K disposed

Non-Derivative Transactions3

Class B common stock, par value $0.000001

Indirect

G · Gift

−150K

Price / share

—

Trade value

—

% of position

3.3%

6/3/2021

4.51M→4.36M

Class B common stock, par value $0.000001

Indirect

M · Option Exercise

+15.07K

Price / share

—

Trade value

—

% of position

0.3%

12/31/2021

4.36M→4.38M

Class B common stock, par value $0.000001

Indirect

A · Award

+200K

Price / share

—

Trade value

—

% of position

4.6%

1/1/2022

4.38M→4.58M

Total

Net shares

+65.08K

Net value

$0.00

Security	Date	Type	Shares	Price / Share	Trade Value	% of Position	Held Before	Held After
Class B common stock, par value $0.000001 Indirect	6/3/2021	G · Gift	−150K	—	—	3.3%	4.51M	4.36M
Class B common stock, par value $0.000001 Indirect	12/31/2021	M · Option Exercise	+15.07K	—	—	0.3%	4.36M	4.38M
Class B common stock, par value $0.000001 Indirect	1/1/2022	A · Award	+200K	—	—	4.6%	4.38M	4.58M
Total			+65.08K		$0.00

Derivative Transactions4

Class B Units

Indirect

G · Gift

Converts to

Class A common stock, par value $0.01

150K shares

−150K

Strike price

Held after

4.36M

Exercisable

—

6/3/2021

Delayed Exchange Class B Units

Indirect

M · Option Exercise

Converts to

Class A common stock, par value $0.01

15.07K shares

+15.07K

Strike price

Held after

4.38M

Exercisable

—

12/31/2021

Phantom Class B Units

Direct

M · Option Exercise

Converts to

Class B Units

15.07K shares

−15.07K

Strike price

Held after

15.08K

Exercisable

—

12/31/2021

Delayed Exchange Class B Units

Indirect

A · Award

Converts to

Class A common stock, par value $0.01

200K shares

+200K

Strike price

Held after

4.58M

Exercisable

—

1/1/2022

Security	Converts To	Date	Type	Shares	Exercisable	Held After
Class B Units Indirect	Class A common stock, par value $0.01150K shares	6/3/2021	G · Gift	−150K	—	4.36M
Delayed Exchange Class B Units Indirect	Class A common stock, par value $0.0115.07K shares	12/31/2021	M · Option Exercise	+15.07K	—	4.38M
Phantom Class B Units Direct	Class B Units15.07K shares	12/31/2021	M · Option Exercise	−15.07K	—	15.08K
Delayed Exchange Class B Units Indirect	Class A common stock, par value $0.01200K shares	1/1/2022	A · Award	+200K	—	4.58M

Non-Derivative Holdings (Post-Transaction)1

Class B common stock, par value $0.000001

Indirect

Shares owned1.27M

Total

1.27M indirect1.27M

Security Title	Shares Owned	Ownership Type
Class B common stock, par value $0.000001	1.27M	Indirect
Total	1.27M	1.27M indirect

Derivative Holdings (Post-Transaction)1

Class B Units

Indirect

Underlying security

Class A common stock, par value $0.01

Underlying shares

1.27M

Shares owned

1.27M

Exercise price

Expiration

—

Exercise window

—

Total

Underlying

1.27M

Owned

1.27M

Security	Underlying	Exercise Price	Exercise Window	Expiration	Underlying Shares	Shares Owned
Class B Units Indirect	Class A common stock, par value $0.01		—	—	1.27M	1.27M
Total					1.27M	1.27M