Stagwell CEO Mark Penn Cashes Out 1 Million Stock Appreciation Rights Worth $8.3 Million
Penn's rights were set to expire December 14, 2026, and he still holds 25,034,990 Stagwell shares after the cash settlement.
Mark Jeffery Penn, Stagwell's CEO, cashed out 1 million rights on October 29 and November 1, split into two 500,000 lots, a Monday filing shows. The rights, which pay out the gain in a stock's price, were due to expire on December 14, 2026.
Two lots at $8.27
Both lots carried an exercise price of $8.27, for a total of $8.3 million. The filing, a Form 4 (the report insiders file after trading), records the company paying out the gain: the shares were disposed of to the issuer at $9.95 for the October 29 lot and $10.47 for the November 1 lot.
The rights vested in equal installments on December 14 of 2022, 2023 and 2024.
A 25 million-share stake remains
Penn holds 25,034,990 Stagwell shares after the exercise, worth about $269.6 million at Monday's close. Of those, 23,034,990 are held directly and 2,000,000 indirectly through The Stagwell Group LLC, which the filing says he controls.
Stagwell shares closed Monday at $10.77. As of Friday's close the stock was up 114% this year and within 5% of its 52-week high of $10.61. The shares rose 124.2% over the 12 months through October 30.
The company behind the stock
Stagwell is a marketing and communications network selling creative, research, digital, media, public relations and advocacy services, plus software and data tools for in-house marketers. As of December 31, 2025, it served more than 4,500 clients and employed about 10,951 full-time staff.
Any further Form 4 from Penn, who still holds 25,034,990 shares, will show whether he exercises or sells more.
Sources
- Form 4 — Mark Jeffery Penn (STGW) — SEC EDGAR
