A Victory Capital Holdings insider sold 18,177 shares at $99.97 to cover tax liabilities tied to stock vesting.
Victory Capital Holdings Inc. (NASDAQ:VCTR) executive vice president Thomas Michael Sipp sold 18,177 shares on August 5 for $1.8 million, based on a weighted average price of $99.97. The transaction was non-discretionary, executed to cover tax obligations from the vesting of performance-based restricted stock.
The sale reduced Sipp’s direct holdings by 13% but left his ownership stake at 0.2%. He retains nearly 123,000 derivative securities, including vested and unvested awards. The vesting event marked the first of four stock price performance hurdles tied to future equity.
Victory Capital shares have risen 44% over the past 12 months, closing at $106.79 on August 6. The company’s stock reached record levels ahead of the transaction.