Stockholders' Equity (Tables)

12 Months Ended

Dec. 31, 2023

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