Stockholders' Equity (Tables)

9 Months Ended

Sep. 30, 2020

Stockholders' Equity Note [Abstract]

Authorized and outstanding equity

APAM had the following authorized and outstanding equity as of September 30, 2020 and December 31, 2019, respectively:

Outstanding

Authorized

As of September 30, 2020

As of December 31, 2019

Voting Rights (1)

Economic Rights

Common shares

Class A, par value $0.01 per share

500,000,000

61,425,521

56,429,825

1 vote per share

Proportionate

Class B, par value $0.01 per share

200,000,000

5,519,415

7,803,364

1 vote per share

None

Class C, par value $0.01 per share

400,000,000

11,630,164

13,568,665

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 September 30, 2020, Artisan’s employees held 5,186,737 restricted shares of Class A common stock and all 5,519,415 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 three and nine months ended September 30, 2020 and 2019:


Type of Dividend	Class of Stock	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
		2020		2019		2020		2019
Quarterly	Class A Common	$	0.67	$	0.60	$	1.96	$	1.71
Special Annual	Class A Common	$	—	$	—	$	0.60	$	1.03

Issuance (Cancellation) of Shares Disclosure

The following table summarizes APAM’s stock transactions for the nine months ended September 30, 2020:


	Total Stock Outstanding	Class A Common Stock(1)	Class B Common Stock	Class C Common Stock
Balance at December 31, 2019	77,801,854	56,429,825	7,803,364	13,568,665
2020 Follow-On Offering	—	1,802,326	(1,777,326)	(25,000)
Holdings Common Unit Exchanges	—	2,420,124	(473,818)	(1,946,306)
Restricted Share Award Grants	916,085	916,085	—	—
Restricted Share Award Net Share Settlement	(126,971)	(126,971)	—	—
Delivery of Shares Underlying RSUs	24,233	24,233	—	—
Employee/Partner Terminations	(40,101)	(40,101)	(32,805)	32,805
Balance at September 30, 2020	78,575,100	61,425,521	5,519,415	11,630,164

(1) There were 304,570 and 297,891 restricted stock units outstanding at September 30, 2020 and December 31, 2019, respectively. In addition, there were 60,000 performance share units outstanding at September 30, 2020. Based on the current status of the market and performance conditions, the 60,000 unvested performance share units would ultimately result in the issuance of 90,000 shares of Class A common stock if all other vesting conditions were met. Restricted stock units and performance share units are not reflected in the table because they are not considered outstanding or issued stock.

Distributions Made to Limited Partner, by Distribution

Holdings’ partnership distributions for the three and nine months ended September 30, 2020 and 2019, were as follows:


	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2020		2019		2020		2019
Holdings Partnership Distributions to Limited Partners	$	20,923	$	21,828	$	60,245	$	70,152
Holdings Partnership Distributions to APAM	70,024		53,423		181,379		166,307
Total Holdings Partnership Distributions	$	90,947	$	75,251	$	241,624	$	236,459