Stockholders' Equity (Tables)

9 Months Ended

Sep. 30, 2023

Stockholders' Equity Note [Abstract]

Authorized and outstanding equity

APAM had the following authorized and outstanding equity as of September 30, 2023 and December 31, 2022, respectively:

Outstanding

Authorized

As of September 30, 2023

As of December 31, 2022

Voting Rights (1)

Economic Rights

Common shares

Class A, par value $0.01 per share

500,000,000

68,481,220

67,982,025

1 vote per share

Proportionate

Class B, par value $0.01 per share

200,000,000

2,456,534

2,583,884

1 vote per share

None

Class C, par value $0.01 per share

400,000,000

9,024,947

9,040,147

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, 2023, Artisan’s employees held 5,242,987 restricted shares of Class A common stock and all 2,456,534 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, 2023 and 2022:


Type of Dividend	Class of Stock	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
		2023		2022		2023		2022
Quarterly	Class A Common	$	0.61	$	0.60	$	1.66	$	2.39
Special Annual	Class A Common	$	—	$	—	$	0.35	$	0.72

Issuance (Cancellation) of Shares Disclosure

The following table summarizes APAM’s stock transactions for the nine months ended September 30, 2023:


	Total Stock Outstanding	Class A Common Stock(1)	Class B Common Stock	Class C Common Stock
Balance at December 31, 2022	79,606,056	67,982,025	2,583,884	9,040,147

Holdings Common Unit Exchanges	—	142,550	(127,350)	(15,200)
Restricted Share Award Grants	515,702	515,702	—	—
Restricted Share Award Net Share Settlement	(187,287)	(187,287)	—	—
Delivery of Shares Underlying RSUs and PSUs	46,146	46,146	—	—
Employee/Partner Terminations	(17,916)	(17,916)	—	—
Balance at September 30, 2023	79,962,701	68,481,220	2,456,534	9,024,947

(1) There were 415,112 and 367,392 restricted stock units outstanding at September 30, 2023 and December 31, 2022, respectively. In addition, there were 216,170 and 231,170 performance share units outstanding at September 30, 2023 and December 31, 2022, respectively. Based on the quarter-end status of the market and performance conditions, the 216,170 unvested performance share units would ultimately result in the issuance of 264,143 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

The distributions are recorded in the financial statements on the declaration date, or on the payment date in lieu of a declaration date. Holdings’ partnership distributions for the three and nine months ended September 30, 2023 and 2022 were as follows:


	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2023		2022		2023		2022
Holdings Partnership Distributions to Limited Partners	$	12,883	$	12,026	$	30,341	$	43,721
Holdings Partnership Distributions to APAM	72,419		64,441		169,102		227,165
Total Holdings Partnership Distributions	$	85,302	$	76,467	$	199,443	$	270,886