Stockholders' Equity (Tables)

12 Months Ended

Dec. 31, 2019

Authorized and outstanding equity

APAM had the following authorized and outstanding equity as of December 31, 2019 and 2018, respectively:

Outstanding

Authorized

December 31, 2019

December 31, 2018

Voting Rights ⁽¹⁾

Economic Rights

Common shares

Class A, par value $0.01 per share

500,000,000

56,429,825

54,071,188

1 vote per share

Proportionate

Class B, par value $0.01 per share

200,000,000

7,803,364

8,645,249

1 vote per share

None

Class C, par value $0.01 per share

400,000,000

13,568,665

14,226,435

1 vote per share

None

⁽¹⁾ The Company’s employees to whom Artisan has granted equity have entered into a stockholders agreement with respect to all shares of APAM common stock they have acquired from the Company and any shares they may acquire from the Company in the future, pursuant to which they granted an irrevocable voting proxy to a Stockholders Committee. As of December 31, 2019, Artisan’s employees held 4,898,297 restricted shares of Class A common stock and all 7,803,364 outstanding shares of Class B common stock, all of which were subject to the agreement.

Dividends Declared

APAM declared and paid the following dividends per share during the years ended December 31, 2019, 2018 and 2017:


Type of Dividend	Class of Stock	For the Years Ended December 31,
		2019		2018		2017
Quarterly	Common Class A	$	2.36	$	2.40	$	2.40
Special Annual	Common Class A	$	1.03	$	0.79	$	0.36

Schedule of Stock by Class

The following table summarizes APAM’s stock transactions for the years ended December 31, 2019, 2018 and 2017:


	Total Stock Outstanding	Class A Common Stock⁽¹⁾	Class B Common Stock	Class C Common Stock
Balance at January 1, 2017	74,354,869	42,149,436	15,142,049	17,063,384
2017 Follow-On Offering	—	5,626,517	(2,104,517)	(3,522,000)
Holdings Common Unit Exchanges	—	1,472,197	(1,048,917)	(423,280)
Restricted Share Award Grants	1,267,250	1,267,250	—	—
Restricted Share Award Net Share Settlement	(48,646)	(48,646)	—	—
Employee/Partner Terminations	(3,628)	(3,628)	(66,423)	66,423
Balance at December 31, 2017	75,569,845	50,463,126	11,922,192	13,184,527
2018 Follow-On Offering	—	644,424	(644,424)	—
Holdings Common Unit Exchanges	—	1,590,611	(606,066)	(984,545)
Restricted Share Award Grants	1,517,724	1,517,724	—	—
Restricted Share Award Net Share Settlement	(77,442)	(77,442)	—	—
Employee/Partner Terminations	(67,255)	(67,255)	(2,026,453)	2,026,453
Balance at December 31, 2018	76,942,872	54,071,188	8,645,249	14,226,435
Holdings Common Unit Exchanges	—	1,499,655	(841,885)	(657,770)
Restricted Share Award Grants	959,000	959,000	—	—
Restricted Share Award Net Share Settlement	(82,729)	(82,729)	—	—
Employee/Partner Terminations	(17,289)	(17,289)	—	—
Balance at December 31, 2019	77,801,854	56,429,825	7,803,364	13,568,665
⁽¹⁾There were 297,891, 246,581, and 178,401 restricted stock units outstanding at December 31, 2019, 2018, and 2017, respectively. Restricted stock units are not reflected in the table because they are not considered outstanding or issued stock.

Distributions

Holdings’ partnership distributions for the years ended December 31, 2019, 2018 and 2017 were as follows:


	For the Years Ended December 31,
	2019		2018		2017
Holdings Partnership Distributions to Limited Partners	$	94,842	$	103,434	$	115,804
Holdings Partnership Distributions to APAM	226,245		217,396		197,070
Total Holdings Partnership Distributions	$	321,087	$	320,830	$	312,874