X0306 4 2019-10-31 0 0001578732 Marcus & Millichap, Inc. MMI 0000939706 MARCUS GEORGE M C/O MARCUS & MILLICHAP, INC. 23975 PARK SORRENTO, SUITE 400 CALABASAS CA 91302 1 0 1 0 Common Stock 2019-10-31 4 J 0 84086 0.00 D 14803262 I By LLC Distribution by Phoenix Investments Holdings LLC ("Phoenix") to a unitholder to redeem the unitholder's membership interest in Phoenix. Mr. Marcus is the sole member and manager of Ionian Investments Manager LLC, which is the non-member manager of Phoenix, and beneficially owns 98.9% of its membership interests after the redemption. Mr. Marcus has voting and investment power with respect to the shares held by Phoenix. Mr. Marcus disclaims beneficial ownership of shares held by Phoenix except to the extent of his pecuniary interest therein. /s/ George Marcus 2019-11-01