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Stockholders' Equity (Tables) | 12 Months Ended
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Dec. 31, 2023
Equity [Abstract] |
Authorized and outstanding equity | APAM had the following authorized and outstanding equity as of December 31, 2023 and 2022, respectively:
|  |  | Outstanding |  |  |  |
Common shares | Authorized |  | December 31, 2023 |  | December 31, 2022 |  | Voting Rights (1) |  | Economic Rights
Class A, par value $0.01 per share | 500,000,000 |  |  | 68,554,078 |  |  | 67,982,025 |  |  | 1 vote per share |  | Proportionate
Class B, par value $0.01 per share | 200,000,000 |  |  | 2,435,739 |  |  | 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 December 31, 2023, Artisan’s employees held 5,241,153 restricted shares of Class A common stock and all 2,435,739 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, 2023, 2022 and 2021:
|  |  |  | For the Years Ended December 31,
Type of Dividend |  | Class of Stock |  | 2023 |  | 2022 |  | 2021
Quarterly |  | Common Class A |  | $ | 2.31 |  |  | $ | 2.95 |  |  | $ | 3.92 |
Special Annual |  | Common Class A |  | $ | 0.35 |  |  | $ | 0.72 |  |  | $ | 0.31 |
Schedule of Stock by Class | The following table summarizes APAM’s stock transactions for the years ended December 31, 2023, 2022 and 2021:
| Total Stock Outstanding | Class A Common Stock(1) | Class B Common Stock | Class C Common Stock
Balance at January 1, 2021 | 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 | — |  | 2,142,292 |  | (612,764) |  | (1,529,528) |
Delivery of Shares Underlying RSUs | 1,074 |  | 1,074 |  | — |  | — |
Restricted Share Award Grants | 740,249 |  | 740,249 |  | — |  | — |
Restricted Share Net Share Settlement | (177,960) |  | (177,960) |  | — |  | — |
Employee/Partner Terminations | (100,404) |  | (100,404) |  | — |  | — |
Balance at December 31, 2021 | 79,035,069 |  | 66,699,872 |  | 3,206,580 |  | 9,128,617 |
Holdings Common Unit Exchanges | — |  | 711,166 |  | (622,696) |  | (88,470) |
Delivery of Shares Underlying RSUs | 1,060 |  | 1,060 |  | — |  | — |
Restricted Share Award Grants | 787,372 |  | 787,372 |  |  | — |
Restricted Share Net Share Settlement | (198,774) |  | (198,774) |  | — |  | — |
Employee/Partner Terminations | (18,671) |  | (18,671) |  | — |  | — |
Balance at December 31, 2022 | 79,606,056 |  | 67,982,025 |  | 2,583,884 |  | 9,040,147 |
Holdings Common Unit Exchanges | — |  | 163,345 |  | (148,145) |  | (15,200) |
Delivery of Shares Underlying RSUs | 100,043 |  | 100,043 |  | — |  | — |
Restricted Share Award Grants | 515,702 |  | 515,702 |  | — |  | — |
Restricted Share Net Share Settlement | (187,287) |  | (187,287) |  | — |  | — |
Employee/Partner Terminations | (19,750) |  | (19,750) |  | — |  | — |
Balance at December 31, 2023 | 80,014,764 |  | 68,554,078 |  | 2,435,739 |  | 9,024,947 |
(1) There were 361,215, 367,392, and 327,713 restricted stock units outstanding at December 31, 2023, 2022, and 2021, respectively. In addition, there were 216,170, 231,170, and 135,230 performance share units outstanding at December 31, 2023, 2022, and 2021, respectively. Based on the current 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.
Distributions | Holdings’ partnership distributions for the years ended December 31, 2023, 2022 and 2021 were as follows:
| For the Years Ended December 31,
| 2023 |  | 2022 |  | 2021
Holdings Partnership Distributions to Limited Partners | $ | 44,732 |  |  | $ | 57,199 |  |  | $ | 93,189 |
Holdings Partnership Distributions to APAM | 248,278 |  |  | 299,040 |  |  | 400,191 |
Total Holdings Partnership Distributions | $ | 293,010 |  |  | $ | 356,239 |  |  | $ | 493,380 |

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