# EDGAR Filing Document

**Accession Number:** 0002029250
**File Stem:** 0001999371-25-009320
**Filing Date:** 2025-7
**Character Count:** 14386
**Document Hash:** 94794aeb4e8c1df30497600e38c8b713
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001999371-25-009320.hdr.sgml**: 20250717

**ACCESSION NUMBER**: 0001999371-25-009320

**CONFORMED SUBMISSION TYPE**: 4

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250716

**FILED AS OF DATE**: 20250717

**DATE AS OF CHANGE**: 20250717

**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** Amundi
- **CENTRAL INDEX KEY:** 0001330387

**ORGANIZATION NAME:**
- **STATE OF INCORPORATION:** I0
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-38388
- **FILM NUMBER:** 251129677

**BUSINESS ADDRESS:**
- **STREET 1:** 91-93 BOULEVARD PASTEUR
- **CITY:** PARIS
- **STATE:** I0
- **ZIP:** 75015
- **BUSINESS PHONE:** 33 1 43 23 30 30

**MAIL ADDRESS:**
- **STREET 1:** 91-93 BOULEVARD PASTEUR
- **CITY:** PARIS
- **STATE:** I0
- **ZIP:** 75015

**FORMER NAME:**
- **FORMER CONFORMED NAME:** Amundi Group
- **DATE OF NAME CHANGE:** 20100122

**FORMER NAME:**
- **FORMER CONFORMED NAME:** Credit Agricole Asset Management Group
- **DATE OF NAME CHANGE:** 20060123

**FORMER NAME:**
- **FORMER CONFORMED NAME:** Segespar
- **DATE OF NAME CHANGE:** 20050616
**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** Amundi Asset Management SAS
- **CENTRAL INDEX KEY:** 0002029250

**ORGANIZATION NAME:**
- **STATE OF INCORPORATION:** I0
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-38388
- **FILM NUMBER:** 251129676

**BUSINESS ADDRESS:**
- **STREET 1:** 91-93 BOULEVARD PASTEUR
- **CITY:** PARIS
- **STATE:** I0
- **ZIP:** 75015
- **BUSINESS PHONE:** 33(0)176333030

**MAIL ADDRESS:**
- **STREET 1:** 91-93 BOULEVARD PASTEUR
- **CITY:** PARIS
- **STATE:** I0
- **ZIP:** 75015
**ISSUER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Victory Capital Holdings, Inc.
- **CENTRAL INDEX KEY:** 0001570827
- **STANDARD INDUSTRIAL CLASSIFICATION:** INVESTMENT ADVICE [6282]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**BUSINESS ADDRESS:**
- **STREET 1:** 4900 TIEDEMANN ROAD
- **STREET 2:** 4TH FLOOR
- **CITY:** BROOKLYN
- **STATE:** OH
- **ZIP:** 44144
- **BUSINESS PHONE:** 216-898-2400

**MAIL ADDRESS:**
- **STREET 1:** 4900 TIEDEMANN ROAD
- **STREET 2:** 4TH FLOOR
- **CITY:** BROOKLYN
- **STATE:** OH
- **ZIP:** 44144

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## FORM 4

### STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

[ ] Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>Amundi<br><sub>(Last) (First) (Middle)</sub><br>91-93 BOULEVARD PASTEUR<br><sub>(Street)</sub><br>PARIS, I0 75015<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2025-07-16 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[X] Director [X] 10% Owner<br>[ ] Officer (give title below) [ ] Other (specify below)<br>_ _ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>Victory Capital Holdings, Inc. [ VCTR ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[ ] Form filed by One Reporting Person<br>[X] Form filed by More than One Reporting Person |

---

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>Amundi Asset Management SAS<br><sub>(Last) (First) (Middle)</sub><br>91-93 BOULEVARD PASTEUR<br><sub>(Street)</sub><br>PARIS, I0 75015<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2025-07-16 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[X] Director [X] 10% Owner<br>[ ] Officer (give title below) [ ] Other (specify below)<br>_ _ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>Victory Capital Holdings, Inc. [ VCTR ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[ ] Form filed by One Reporting Person<br>[X] Form filed by More than One Reporting Person |

---

## Table I - Non-Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | 3. Transaction Code (V) | 3. Transaction Code (V) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | Code | V | Amount | (A) or (D) | Price | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| Common Stock | 2025-07-16 |  | D<sup>(1)(2)(6)(7)</sup> |  | 88547 | D | <sup>(6)(7)</sup> | 3204924 | I<sup>(1)</sup> | See Explanation of Responses<sup>(1)(2)(8)(9)(10)(11)</sup> |

---

## Table II - Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | 4. Transaction Code (V) | 4. Transaction Code (V) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 6. Date Exercisable and Expiration Date | 6. Date Exercisable and Expiration Date | 7. Title and Amount of Underlying Securities | 7. Title and Amount of Underlying Securities | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| Preferred Stock | <sup>(3)(4)(5)(6)(7)</sup> | 2025-07-16 |  | A<sup>(1)(2)(6)(7)</sup> |  | 88547 |  | <sup>(3)(4)(5)(6)(7)</sup> | <sup>(3)(4)(5)(6)(7)</sup> | Common Stock(<sup>(3)(4)(5)(6)(7)</sup> | 88547<sup>(3)(4)(5)(6)(7)</sup> | <sup>(1)(2)(6)(7)</sup> | 19830847<sup>(8)</sup> | I<sup>(1)(2)</sup> | See Explanation of Responses<sup>(1)(2)(8)(9)(10)(11)</sup> |

---

### Footnotes:

(1) On April 1, 2025, Amundi Asset Management S.A.S. ("Amundi AM") and Victory Capital Holdings, Inc. (the "Issuer") entered into a Shareholder Agreement (the "Shareholder Agreement") in connection with the contribution by Amundi AM to the Issuer of all of the issued and outstanding equity interests of Amundi Holdings US, Inc., a Delaware corporation and wholly-owned subsidiary of Amundi AM, in exchange for (i) 3,293,471 shares of Common Stock, par value $0.01 (the "Common Stock") representing 4.9% of the total number of shares of Common Stock issued and outstanding after giving effect to the issuance and (ii) 14,305,982 newly issued shares of non-voting convertible preferred stock of Issuer (the "Preferred Stock"), on the terms set forth in the Contribution Agreement, dated July 8, 2024, by and between Amundi AM, Amundi S.A. and the Issuer (the "Contribution Agreement"). Amundi AM is a wholly-owned subsidiary of Amundi S.A. (Amundi AM, together with Amundi SA, the "Reporting Persons").

(2) On May 16, 2025, Amundi AM acquired beneficial ownership of an additional 5,436,318 shares of Preferred Stock as a result of a post-closing adjustment to the Preferred Stock received by Amundi AM at the closing of the transaction, which together with the Common Stock and Preferred Stock acquired at the closing of the transaction, resulted in Amundi AM beneficially owning 26.1% of the Issuer's outstanding capital stock as of the closing date of the transaction on a fully diluted basis, subject to a further post-closing adjustment.

(3) Pursuant to the terms of a Shareholder Agreement, the Reporting Persons are not permitted to transfer shares of Common Stock or Preferred Stock beneficially owned by them until April 1, 2028, subject to certain exceptions.

(4) Under the terms of the Shareholder Agreement, Amundi AM has the right to require the Issuer to nominate and use reasonable best efforts (subject to applicable law and the exercise of fiduciary duties) to have two individuals designated by Amundi AM elected to the Issuer's board of directors (the "Board") for so long as Amundi AM and its permitted transferees own at least 50% of the shares Amundi AM acquired pursuant to the Contribution Agreement and one individual designated by Amundi AM elected to the Board for so long as Amundi AM and its permitted transferees own at least 33% (but less than 50%) of the shares Amundi AM acquired pursuant to the Contribution Agreement. In accordance with the terms of the Shareholder Agreement, the Issuer appointed two individuals designated by Amundi AM to the Board on April 1, 2025.

(5) The Preferred Stock is not convertible at the option of the holder and is only convertible into shares of Common Stock after a transfer: (i) in a widespread public distribution; (ii) to the Issuer; (iii) in transfers in which no transferee (or group of associated transferees) would receive two percent or more of the outstanding securities of any "class of voting shares" (as defined in 12 C.F.R. ss. 225.2(q)(3)) of the Issuer; or (iv) to a transferee that controls more than 50% of every "class of voting shares" (as defined in 12 C.F.R. ss. 225.2(q)(3)) of the Issuer without any transfer from the transferring holder of the Preferred Stock, in each case, so long as the transfer of such Preferred Stock is not to an "affiliate" (as such term is defined in the Bank Holding Company Act of 1956, as amended) of the holder of the Preferred Stock ("Automatic Transfer Conversion").

(6) (continued from footnote 5) The Preferred Stock is convertible into Common Stock upon an Automatic Transfer Conversion on a one-to-one basis. Separately, Amundi AM is permitted to exchange its Common Stock for Preferred Stock at any time and will be required to exchange its Common Stock for Preferred Stock under certain circumstances as contemplated in the Shareholder Agreement. The Common Stock will be exchangeable into Preferred Stock on a one-to-one basis.

(7) Reflects an exercise by Amundi AM, on the terms set forth in the Shareholder Agreement, of its right under the Shareholder Agreement to cause the Issuer to issue shares of Preferred Stock to Amundi AM in exchange for an equal number of shares of Common Stock.

(8) This amount reflects the correction of an inadvertent clerical error in the Form 4 filed by the Reporting Person on May 20, 2025, in which the total number of shares of Preferred Stock beneficially owned by the Reporting Persons following the acquisition of 5,436,318 shares of Preferred Stock reported therein as 17,942,300 shares, instead of the correct number of 19,742,300 shares.

(9) On July 8, 2024, Amundi AM entered into a Voting Agreement (the "Crestview Voting Agreement") with Crestview Victory, L.P. and Crestview Advisors, L.L.C. (together, "Crestview"), and a Voting Agreement (together with the Crestview Voting Agreement, the "Voting Agreements") with certain officers of the Issuer (the "Executives") and a three-person committee of employees of the Issuer (the "Employee Shareholders Committee" or the "ESC") authorized to vote the shares of Common Stock held by certain employees of the Issuer pursuant to the terms of that certain Employee Shareholders' Agreement, dated as of February 12, 2018, by and among the Issuer, the Employee Shareholders' Committee and those certain employees of the Issuer party thereto (the "Employee Shareholders' Agreement").

(10) (continued from footnote 9) Pursuant to the terms of the Voting Agreements, each of Crestview and the ESC have agreed not to nominate any person for election to the Board in lieu of, or in a contested election with, such nominee of Amundi AM, for so long as Amundi AM retains the right to nominate any person for election to the Board. By virtue of the Voting Agreements, the Reporting Persons may be deemed to beneficially own the securities of the Issuer beneficially owned by Crestview and the ESC.

(11) Pursuant to Rule 16a-1(a)(4) under the Securities and Exchange Act of 1934 (the "Act"), this filing shall not be deemed an admission that the Reporting Persons are, for purposes of Section 16 of the Act or otherwise, part of a "group" (within the meaning of Rule 13d-5(b)(1) under the Act) by virtue of the Voting Agreements or have beneficial ownership of the shares of Common Stock held by any party thereto.

**Signature:** /s/ Marc Imsel, Head of Compliance - Market Integrity of Amundi S.A.  
**Date:** 2025-07-16

**Signature:** /s/ Marc Imsel, Head of Compliance - Market Integrity of Amundi Asset Management S.A.S.  
**Date:** 2025-07-16

### Remarks:

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

**Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.**