Victory Capital's ETF Chief Had Shares Vest on a Price Target. Here's What to Know

This filing reports the disposal of 6,452 shares at $99.97 per share.

The sale was non-discretionary, executed to satisfy tax withholding obligations following the vesting of performance-based restricted stock.

Following this activity, the insider maintains a direct position of 307,686 shares valued at $30.76 million as of the transaction date.

Mannik S. Dhillon, president of investment franchises & solutions and head of ETFs for Victory Capital Holdings, Inc. (NASDAQ:VCTR) , disposed of 6,452 shares of common stock on August 5, according to a recent SEC Form 4 filing .

Transaction value based on SEC Form 4 weighted average sale price ($99.97); post-transaction value based on the August 5 market close ($99.97).

Victory Capital Holdings represents a significant player in the global asset management industry with $6.7 billion in market capitalization and $1.6 billion in TTM revenue. The company has demonstrated strong financial performance with TTM net income of $460.9 million. Operating from San Antonio with 699 employees, Victory Capital leverages its integrated platform approach to deliver comprehensive asset management solutions across institutional and retail channels, positioning itself competitively within the financial services sector.

Dhillon runs the piece of Victory Capital that has been among its fastest growing (if not the fastest growing), so it is fitting that his shares converted because the stock hit a price target that this growth helped drive. The vesting brought the usual tax withholding, nothing more, and he keeps better than 307,000 shares, with more riding on price hurdles still unmet. The business he leads is a good part of why the targets are getting hit. Victory's exchange-traded fund assets climbed 54% over the past year to $23.2 billion, growing at a 27% organic clip, one of the faster-expanding corners of a firm that just posted record revenue of $435 million. Its broader diversification shows in the mix, with U.S. equity now only about a third of client assets. CEO David Brown called the quarter "a landmark period for Victory Capital." Ultimately, Dhillon converted 6,452 shares to cover taxes on a milestone his own ETF business helped reach, and held on to a stake worth roughly 50 times that, which is the whole of what this filing says.

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