Stockholders' Equity (Tables)

6 Months Ended

Jun. 30, 2021

Stockholders' Equity Note [Abstract]

Authorized and outstanding equity

APAM had the following authorized and outstanding equity as of June 30, 2021 and December 31, 2020, respectively:

Outstanding

Authorized

As of June 30, 2021

As of December 31, 2020

Voting Rights (1)

Economic Rights

Common shares

Class A, par value $0.01 per share

500,000,000

64,839,462

63,131,007

1 vote per share

Proportionate

Class B, par value $0.01 per share

200,000,000

3,647,533

4,457,958

1 vote per share

None

Class C, par value $0.01 per share

400,000,000

10,555,009

10,983,145

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 June 30, 2021, Artisan’s employees held 5,144,657 restricted shares of Class A common stock and all 3,647,533 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 six months ended June 30, 2021 and 2020:


Type of Dividend	Class of Stock	For the Three Months Ended June 30,				For the Six Months Ended June 30,
		2021		2020		2021		2020
Quarterly	Class A Common	$	0.88	$	0.61	$	1.85	$	1.29
Special Annual	Class A Common	$	—	$	—	$	0.31	$	0.60

Issuance (Cancellation) of Shares Disclosure

The following table summarizes APAM’s stock transactions for the six months ended June 30, 2021:


	Total Stock Outstanding	Class A Common Stock(1)	Class B Common Stock	Class C Common Stock
Balance at December 31, 2020	78,572,110	63,131,007	4,457,958	10,983,145
2021 Follow-On Offering	—	963,614	(638,614)	(325,000)
Holdings Common Unit Exchanges	—	274,947	(171,811)	(103,136)
Restricted Share Award Grants	740,249	740,249	—	—
Restricted Share Award Net Share Settlement	(176,194)	(176,194)	—	—
Delivery of Shares Underlying RSUs	1,074	1,074	—	—
Employee/Partner Terminations	(95,235)	(95,235)	—	—
Balance at June 30, 2021	79,042,004	64,839,462	3,647,533	10,555,009

(1) There were 328,310 and 304,570 restricted stock units outstanding at June 30, 2021 and December 31, 2020, respectively. In addition, there were 135,230 performance share units outstanding at June 30, 2021. Based on the current status of the market and performance conditions, the 135,230 unvested performance share units would ultimately result in the issuance of 165,233 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.

Schedule of Distributions made to General and Limited Partners

Holdings’ partnership distributions for the three and six months ended June 30, 2021 and 2020 were as follows:


	For the Three Months Ended June 30,				For the Six Months Ended June 30,
	2021		2020		2021		2020
Holdings Partnership Distributions to Limited Partners	$	30,387	$	22,246	$	42,260	$	39,322
Holdings Partnership Distributions to APAM	125,906		66,251		174,452		111,355
Total Holdings Partnership Distributions	$	156,293	$	88,497	$	216,712	$	150,677