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On 07/01/2025, Moelis & Company (MC) filed a Form 4 reporting equity awards to non-employee director Laila Worrell. The filing discloses two acquisitions of restricted stock units (RSUs):

• 1,681 2025 Annual RSUs that vested immediately on the grant date; settlement is scheduled within 60 days after 07/01/2027.
• 1,841 2025 Elective RSUs that vest in four equal quarterly tranches through 07/01/2026; each tranche settles within 60 days of vesting.

Each RSU converts into one share of Class A common stock. The awards were valued at an average share price of $62.45, calculated from the five trading days ended 06/30/2025. No shares were sold or transferred, and all ownership is reported as direct. Following the grants, Worrell beneficially owns 3,522 RSUs, modestly increasing insider equity and reinforcing alignment with shareholder interests. The overall dilution potential is immaterial relative to the company鈥檚 outstanding share count, making this a routine compensation-related disclosure rather than a market-moving event.

On 07/01/2025, Moelis & Company (MC) filed a Form 4 reporting equity awards to non-employee director Laila Worrell. The filing discloses two acquisitions of restricted stock units (RSUs):

• 1,681 2025 Annual RSUs that vested immediately on the grant date; settlement is scheduled within 60 days after 07/01/2027.
• 1,841 2025 Elective RSUs that vest in four equal quarterly tranches through 07/01/2026; each tranche settles within 60 days of vesting.

Each RSU converts into one share of Class A common stock. The awards were valued at an average share price of $62.45, calculated from the five trading days ended 06/30/2025. No shares were sold or transferred, and all ownership is reported as direct. Following the grants, Worrell beneficially owns 3,522 RSUs, modestly increasing insider equity and reinforcing alignment with shareholder interests. The overall dilution potential is immaterial relative to the company鈥檚 outstanding share count, making this a routine compensation-related disclosure rather than a market-moving event.

UBS AG is marketing Trigger Autocallable Contingent Yield Notes maturing ~6 July 2028 that are linked to the common stock of General Motors Company (GM). The $1,000-denominated notes are unsubordinated, unsecured debt obligations of UBS AG London Branch. Investors may receive:

• Contingent coupons: set on the trade date at 鈮� 13.15% p.a. (paid quarterly) but only when GM鈥檚 closing price on the relevant observation date is 鈮� 75 % of the initial level (the 鈥渃oupon barrier鈥�). No coupon is paid for periods in which the barrier is breached.
• Automatic call: if GM鈥檚 share price is 鈮� 100 % of the initial level on any quarterly observation date before maturity, UBS returns principal plus the coupon then due, and the note terminates.
• Principal repayment at maturity: 鈥� If not previously called and GM鈥檚 final level 鈮� 75 % of the initial level (the 鈥渄ownside threshold鈥�), holders receive full principal.
  鈥� If the final level < 75 %, repayment equals $1,000 脳 (1 + underlying return). Principal loss is therefore one-for-one with GM鈥檚 negative performance below the threshold, down to total loss.

Key commercial terms

• Contingent coupon rate: 鈮� 13.15 % p.a. (鈮� 3.2875 % quarterly).
• Barrier / Call / Threshold levels: 75 % (barrier & downside) and 100 % (call), all set as percentages of the initial level observed 10 July 2025.
• Trade / settlement dates: 10 Jul 2025 (T) / 15 Jul 2025 (T+3).
• Quarterly observation dates run from 30 Sep 2025 to 30 Jun 2028; maturity 6 Jul 2028.
• Estimated initial value: $936.30鈥�$966.30 (93.6 %鈥�96.6 % of issue price) per note, reflecting underwriting discount ($20), hedging and funding costs.
• The notes will not be listed; secondary liquidity depends solely on the dealer鈥檚 willingness to make a market.

Risk highlights

• Market risk: Investors face full downside below the 75 % threshold if the note is not called.
• Coupon risk: No coupons are paid if GM trades < 75 % on an observation date.
• Credit / bail-in risk: All payments rely on UBS AG鈥檚 ability to perform and are subject to Swiss resolution powers (FINMA) that could convert or write down the debt.
• Liquidity & valuation: No exchange listing; resale value likely below $1,000 and could be materially less than UBS鈥檚 internal valuation.
• Tax treatment: UBS intends to treat the product as a prepaid derivative with ordinary-income coupons; U.S. tax outcomes remain uncertain.

Overall, the notes target investors seeking high conditional income and willing to assume equity, credit and liquidity risk, with no participation in upside beyond coupons.

Deckers Outdoor Corp (DECK) 鈥� Form 144 insider notice. A filer intends to sell up to 15,000 common shares through broker Janney Montgomery Scott. The planned transaction, slated for 02 Jul 2025, has an aggregate market value of $1.581 million, implying a reference price near $105 per share. Within the past three months the same account already disposed of 5,000 shares for $523,000, bringing total prospective and completed sales to roughly 20,000 shares worth $2.1 million.

The seller originally acquired the stock on 15 Sep 2015 as 鈥渇orward compensation.鈥� No gifting is indicated. The filing explicitly states that the seller is unaware of undisclosed adverse information and affirms compliance with Rule 10b5-1 if applicable.

Investor take-away: While Form 144 merely signals an intent鈥攏ot a guarantee鈥攖o sell, the scale of the planned disposition could be interpreted as modestly negative sentiment from an insider. However, the notice does not reveal the seller鈥檚 remaining holdings or their role at the company, limiting assessment of true magnitude relative to total ownership.