Mannik S. Dhillon, President Investment Franchise at Victory Capital Holdings, Inc. (NASDAQ:VCTR), filed a Form 4 on August 17, 2026, disclosing transactions in common stock dated August 13, 2026, related to the vesting of performance-based restricted stock.

Key Highlights

  • Settlement of performance shares: 16,390 shares of common stock were acquired by Dhillon on August 13, 2026, upon settlement of performance-based restricted stock, each representing a right to receive one share of common stock.
  • Tax withholding disposition: 6,452 shares were disposed of on August 13, 2026, at a price of $118.17 per share to satisfy the reporting person's tax obligation upon vesting.
  • Resulting direct ownership: Following these transactions, Dhillon directly beneficially owned 317,624 shares of common stock.
  • Performance hurdle achieved: The filing states the shares vested following approval by the Compensation Committee of the Board of Directors of achievement of the second stock price performance hurdle.
  • Remaining derivative holdings: 32,781 performance-based restricted stock units remain beneficially owned directly by Dhillon following the reported transactions.

Dhillon's Performance Share Vesting and Tax Withholding at Victory Capital

According to the Form 4 filing, Mannik S. Dhillon, serving as President Investment Franchise at Victory Capital Holdings, Inc., reported two transactions in the company's common stock on August 13, 2026. The first was an acquisition of 16,390 shares coded as "M," reflecting the settlement of performance-based restricted stock. The filing notes that each performance-based restricted stock represents a right to receive one share of common stock.

The filing states that the performance shares were originally granted on March 15, 2026, as disclosed in a Form 8-K filed on March 16, 2026, pursuant to the Amended and Restated Victory Capital Holdings, Inc. 2018 Equity Plan. Vesting was described as "tied to four significant stock price performance hurdles." The shares that settled on August 13, 2026, did so following the Compensation Committee's approval of achievement of the second stock price performance hurdle.

Simultaneously, 6,452 shares were disposed of under transaction code "F" at $118.17 per share, which the filing describes as shares withheld to satisfy the reporting person's tax obligation based on the closing price of the company's shares on August 13, 2026. After both transactions, Dhillon's direct beneficial ownership in common stock stood at 317,624 shares. An additional 32,781 performance-based restricted stock units remain directly held, representing contingent rights to receive common stock subject to future performance hurdle conditions.

What Was Disclosed

The filing disclosed that Dhillon acquired 16,390 common shares via performance share settlement and disposed of 6,452 shares for tax withholding at $118.17 each, leaving direct ownership of 317,624 common shares and 32,781 remaining performance-based restricted stock units.