SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number: 3235-0287
Estimated average burden
hours per response: 0.5
  
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person*
Berlinski Milton R.

(Last) (First) (Middle)
C/O REVERENCE CAPITAL PARTNERS LLC
590 MADISON AVE.

(Street)
NEW YORK NY 10022

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
Victory Capital Holdings, Inc. [ VCTR ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director X 10% Owner
Officer (give title below) Other (specify below)
3. Date of Earliest Transaction (Month/Day/Year)
11/22/2021
4. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
Form filed by One Reporting Person
X Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Class A Common Stock 11/22/2021 C 307,385 A (1) 307,385 I See Footnotes(3)(7)(9)
Class A Common Stock 11/22/2021 C 255,571 A (1) 255,571 I See Footnotes(4)(7)(9)
Class A Common Stock 11/22/2021 C 4,915 A (1) 4,915 I See Footnotes(5)(7)(9)
Class A Common Stock 11/22/2021 C 295,898 A (1) 295,898 I See Footnotes(6)(9)
Class A Common Stock 11/22/2021 S(2) 307,385 D $34 0 I See Footnotes(3)(7)(9)
Class A Common Stock 11/22/2021 S(2) 255,571 D $34 0 I See Footnotes(4)(7)(9)
Class A Common Stock 11/22/2021 S(2) 4,915 D $34 0 I See Footnotes(5)(7)(9)
Class A Common Stock 11/22/2021 S(2) 295,898 D $34 0 I See Footnotes(6)(9)
Class A Common Stock 11/23/2021 C 3,148,685 A (10) 3,148,685 I See Footnotes(3)(7)(9)
Class A Common Stock 11/23/2021 C 2,617,925 A (10) 2,617,925 I See Footnotes(4)(7)(9)
Class A Common Stock 11/23/2021 C 50,344 A (10) 50,344 I See Footnotes(5)(7)(9)
Class A Common Stock 11/23/2021 C 3,031,017 A (10) 3,031,017 I See Footnotes(6)(9)
Class A Common Stock 11/23/2021 C 184,231 A (10) 184,231 I See Footnotes(8)(9)
Class A Common Stock 11/23/2021 C 294,225 A (10) 294,225 D
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Class B Common Stock (1) 11/22/2021 C 307,385 (1) (1) Class A Common Stock 307,385 (1) 3,148,685 I See Footnotes(3)(7)(9)
Class B Common Stock (1) 11/22/2021 C 255,571 (1) (1) Class A Common Stock 255,571 (1) 2,617,925 I See Footnotes(4)(7)(9)
Class B Common Stock (1) 11/22/2021 C 4,915 (1) (1) Class A Common Stock 4,915 (1) 50,344 I See Footnotes(5)(7)(9)
Class B Common Stock (1) 11/22/2021 C 295,898 (1) (1) Class A Common Stock 295,898 (1) 3,031,017 I See Footnotes(6)(9)
Class B Common Stock (10) 11/23/2021 C 3,148,685 (10) (10) Class A Common Stock 3,148,685 (10) 0 I See Footnotes(3)(7)(9)
Class B Common Stock (10) 11/23/2021 C 2,617,925 (10) (10) Class A Common Stock 2,617,925 (10) 0 I See Footnotes(4)(7)(9)
Class B Common Stock (10) 11/23/2021 C 50,344 (10) (10) Class A Common Stock 50,344 (10) 0 I See Footnotes(5)(7)(9)
Class B Common Stock (10) 11/23/2021 C 3,031,017 (10) (10) Class A Common Stock 3,031,017 (10) 0 I See Footnotes(6)(9)
Class B Common Stock (10) 11/23/2021 C 184,231 (10) (10) Class A Common Stock 184,231 (10) 0 I See Footnotes(8)(9)
Class B Common Stock (10) 11/23/2021 C 294,225 (10) (10) Class A Common Stock 294,225 (10) 0 D
1. Name and Address of Reporting Person*
Berlinski Milton R.

(Last) (First) (Middle)
C/O REVERENCE CAPITAL PARTNERS LLC
590 MADISON AVE.

(Street)
NEW YORK NY 10022

(City) (State) (Zip)
1. Name and Address of Reporting Person*
Reverence Capital Partners LLC

(Last) (First) (Middle)
C/O REVERENCE CAPITAL PARTNERS LLC
590 MADISON AVE.

(Street)
NEW YORK NY 10022

(City) (State) (Zip)
1. Name and Address of Reporting Person*
RCP GenPar HoldCo LLC

(Last) (First) (Middle)
C/O REVERENCE CAPITAL PARTNERS LLC
590 MADISON AVE.

(Street)
NEW YORK NY 10022

(City) (State) (Zip)
1. Name and Address of Reporting Person*
RCP GenPar LP

(Last) (First) (Middle)
C/O REVERENCE CAPITAL PARTNERS LLC
590 MADISON AVE.

(Street)
NEW YORK NY 10022

(City) (State) (Zip)
1. Name and Address of Reporting Person*
RCP Opp Fund I GP, L.P.

(Last) (First) (Middle)
C/O REVERENCE CAPITAL PARTNERS LLC
590 MADISON AVE.

(Street)
NEW YORK NY 10022

(City) (State) (Zip)
1. Name and Address of Reporting Person*
Reverence Capital Partners Opportunities Fund I, L.P.

(Last) (First) (Middle)
C/O REVERENCE CAPITAL PARTNERS LLC
590 MADISON AVE.

(Street)
NEW YORK NY 10022

(City) (State) (Zip)
1. Name and Address of Reporting Person*
Reverence Capital Partners Opportunities Fund I (Cayman), L.P.

(Last) (First) (Middle)
C/O REVERENCE CAPITAL PARTNERS LLC
590 MADISON AVE.

(Street)
NEW YORK NY 10022

(City) (State) (Zip)
1. Name and Address of Reporting Person*
Reverence Capital Partners Opportunities Fund I (AI), L.P.

(Last) (First) (Middle)
C/O REVERENCE CAPITAL PARTNERS LLC
590 MADISON AVE.

(Street)
NEW YORK NY 10022

(City) (State) (Zip)
1. Name and Address of Reporting Person*
RCP Co-Invest GP LLC

(Last) (First) (Middle)
C/O REVERENCE CAPITAL PARTNERS LLC
590 MADISON AVE.

(Street)
NEW YORK NY 10022

(City) (State) (Zip)
1. Name and Address of Reporting Person*
RCP Lake Co-Invest, L.P.

(Last) (First) (Middle)
C/O REVERENCE CAPITAL PARTNERS LLC
590 MADISON AVE.

(Street)
NEW YORK NY 10022

(City) (State) (Zip)
Explanation of Responses:
1. Reflects the conversion of shares of Class B Common Stock of the Issuer ("Class B Shares") into shares of Class A Common Stock of the Issuer ("Class A Shares") on a one-for-one basis. Class B Shares are convertible into Class A Shares on a one-for-one basis at any time by the holder and have no expiration date.
2. Reflects the sale of Class A Shares by certain of the Reporting Persons in connection with a secondary offering of the Issuer pursuant to an underwriting agreement, dated November 17, 2021, at a public offering price of $34.00 per Class A Share (the "Secondary Offering"). The Secondary Offering closed on November 22, 2021. The material terms of the Secondary Offering are described in the prospectus supplement, dated November 17, 2021, filed with by the Issuer with the Securities and Exchange Commission on November 18, 2021.
3. Shares owned directly by Reverence Capital Partners Opportunities Fund I, L.P. (and together with Reverence Capital Partners Opportunities Fund I (Cayman), L.P. and Reverence Capital Partners Opportunities Fund I (AI), L.P., the "Reverence Capital Funds")
4. Shares owned directly by Reverence Capital Partners Opportunities Fund I (Cayman), L.P.
5. Shares owned directly by Reverence Capital Partners Opportunities Fund I (AI), L.P.
6. Shares owned directly by RCP Lake Co-Invest, L.P. RCP Co-Invest GP LLC is the general partner of RCP Lake Co-Invest, L.P. Reverence Capital Partners LLC is the managing member of RCP Co-Invest GP LLC. Each of Reverence Capital Partners LLC and RCP Co-Invest GP LLC may be deemed to have beneficial ownership of the shares owned directly by RCP Lake Co-Invest, L.P.
7. RCP Opp Fund I GP, L.P. is the general partner of each of the Reverence Capital Funds. RCP GenPar LP is the general partner of RCP Opp Fund I GP, L.P. RCP GenPar HoldCo LLC is the general partner of RCP GenPar LP. Mr. Berlinski is the sole member of RCP GenPar HoldCo LLC. Each of Mr. Berlinski, RCP GenPar HoldCo LLC, RCP GenPar LP and RCP Opp Fund I GP, L.P. may be deemed to have beneficial ownership of the shares owned directly by the Reverence Capital Funds.
8. Shares owned directly by MRB ICBC LLC, an entity which Mr. Berlinski controls.
9. Each Reporting Person disclaims beneficial ownership of the reported securities except to the extent of its pecuniary interest therein.
10. On November 19, 2021, the Issuer held a special meeting of stockholders at which the stockholders approved an amendment to the Issuer's certificate of incorporation to convert all outstanding shares of Class B Shares into an equal number of shares of Class A Shares on a one-for-one basis (the "Conversion"). The Conversion was effected on November 23, 2021, upon the Issuer's filing of its amended and restated certificate of incorporation with the Secretary of State of the State of Delaware.
/s/ Milton Berlinski 11/24/2021
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.