Form 4 - Statement of changes in beneficial ownership of securities

Share Name	Share Symbol	Market	Type
Focus Financial Partners Inc	NASDAQ:FOCS	NASDAQ	Common Stock

	Price Change	% Change	Share Price	Bid Price	Offer Price	High Price	Low Price	Open Price	Shares Traded	Last Trade
	0.00	0.00%	52.99	58.28	52.99				0	00:00:00

SEC Form 4

FORM 4

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

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

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^*

Adolf Ruediger

(Last)

(First)

(Middle)

515 NORTH FLAGLER DRIVE

(Street)

WEST PALM BEACH

33401

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
Focus Financial Partners Inc. [ FOCS ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
X	Officer (give title below)	Other (specify below)
CEO and Chairman

3. Date of Earliest Transaction (Month/Day/Year)
08/31/2023

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Class A Common Stock, $0.01 par value	08/31/2023		M⁽⁴⁾		1,795,225	A	⁽⁴⁾	1,795,225	D
Class A Common Stock, $0.01 par value	08/31/2023		D⁽¹⁾⁽²⁾		1,795,225	D	$53⁽¹⁾⁽²⁾	0	D
Class A Common Stock, $0.01 par value	08/31/2023		M⁽⁴⁾		584,552	A	⁽⁴⁾	584,552	I	By Adolf Family Trust II⁽¹⁶⁾
Class A Common Stock, $0.01 par value	08/31/2023		D⁽¹⁾⁽²⁾		584,552	D	$53⁽¹⁾⁽²⁾	0	I	By Adolf Family Trust II⁽¹⁶⁾

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Units in Focus Financial Partners, LLC	⁽¹⁴⁾	08/31/2023		F⁽¹⁴⁾			19,014	⁽¹⁴⁾	⁽¹⁴⁾	Class A Common Stock, $0.01 par value	19,014	$53	105,421	D
Common Units in Focus Financial Partners, LLC	⁽³⁾	08/31/2023		J⁽³⁾			56,604	⁽¹⁴⁾	⁽¹⁴⁾	Class A Common Stock, $0.01 par value	⁽³⁾	$53	48,817	D
Common Units in Focus Financial Partners, LLC	⁽³⁾	08/31/2023		J⁽³⁾			132,075	⁽¹⁵⁾	⁽¹⁵⁾	Class A Common Stock, $0.01 par value	⁽³⁾	$53	28,375	I	By Adolf Family Trust II⁽¹⁶⁾
Common Units in Focus Financial Partners, LLC	⁽⁴⁾	08/31/2023		M⁽⁴⁾			48,817	⁽¹⁴⁾	⁽¹⁴⁾	Class A Common Stock, $0.01 par value	48,817	$0	0	D
Incentive Units in Focus Financial Partners, LLC	$1.42⁽⁵⁾	08/31/2023		M⁽⁴⁾			421	⁽⁷⁾	⁽⁷⁾	Common Units in Focus Financial Partners, LLC	410	$0	0	D
Incentive Units in Focus Financial Partners, LLC	$5.5⁽⁵⁾	08/31/2023		M⁽⁴⁾			798	⁽⁷⁾	⁽⁷⁾	Common Units in Focus Financial Partners, LLC	715	$0	0	D
Incentive Units in Focus Financial Partners, LLC	$6⁽⁵⁾	08/31/2023		M⁽⁴⁾			386	⁽⁷⁾	⁽⁷⁾	Common Units in Focus Financial Partners, LLC	342	$0	0	D
Incentive Units in Focus Financial Partners, LLC	$16⁽⁵⁾	08/31/2023		M⁽⁴⁾			16,511	⁽⁷⁾	⁽⁷⁾	Common Units in Focus Financial Partners, LLC	11,527	$0	0	D
Incentive Units in Focus Financial Partners, LLC	$7⁽⁵⁾	08/31/2023		M⁽⁴⁾			1,081	⁽⁷⁾	⁽⁷⁾	Common Units in Focus Financial Partners, LLC	938	$0	0	D
Incentive Units in Focus Financial Partners, LLC	$9⁽⁵⁾	08/31/2023		M⁽⁴⁾			157,000	⁽⁷⁾	⁽⁷⁾	Common Units in Focus Financial Partners, LLC	130,340	$0	0	D
Incentive Units in Focus Financial Partners, LLC	$11⁽⁵⁾	08/31/2023		M⁽⁴⁾			220,000	⁽⁷⁾	⁽⁷⁾	Common Units in Focus Financial Partners, LLC	174,339	$0	0	D
Incentive Units in Focus Financial Partners, LLC	$13⁽⁵⁾	08/31/2023		M⁽⁴⁾			195,000	⁽⁷⁾	⁽⁷⁾	Common Units in Focus Financial Partners, LLC	147,170	$0	0	D
Incentive Units in Focus Financial Partners, LLC	$19⁽⁵⁾	08/31/2023		M⁽⁴⁾			200,000	⁽⁷⁾	⁽⁷⁾	Common Units in Focus Financial Partners, LLC	128,302	$0	0	D
Incentive Units in Focus Financial Partners, LLC	$21⁽⁵⁾	08/31/2023		M⁽⁴⁾			890,640	⁽⁷⁾	⁽⁷⁾	Common Units in Focus Financial Partners, LLC	537,745	$0	0	D
Incentive Units in Focus Financial Partners, LLC	$23⁽⁵⁾	08/31/2023		M⁽⁴⁾			206,284	⁽⁷⁾	⁽⁷⁾	Common Units in Focus Financial Partners, LLC	116,765	$0	0	D
Incentive Units in Focus Financial Partners, LLC	$33⁽⁵⁾	08/31/2023		M⁽⁴⁾			466,691	⁽⁶⁾	⁽⁶⁾	Common Units in Focus Financial Partners, LLC	176,110	$0	333,309	D
Incentive Units in Focus Financial Partners, LLC	$33⁽⁵⁾	08/31/2023		D⁽⁶⁾			333,309	⁽⁶⁾	⁽⁶⁾	Class A Common Stock, $0.01 par value	⁽⁶⁾	$0	0	D
Incentive Units in Focus Financial Partners, LLC	$28.5⁽⁵⁾	08/31/2023		M⁽⁴⁾			331,642	⁽⁷⁾	⁽⁷⁾	Common Units in Focus Financial Partners, LLC	153,306	$0	0	D
Incentive Units in Focus Financial Partners, LLC	$27.9⁽⁵⁾	08/31/2023		M⁽⁴⁾			306,788	⁽⁸⁾	⁽⁸⁾	Common Units in Focus Financial Partners, LLC	145,290	$0	0	D
Incentive Units in Focus Financial Partners, LLC	$44.71⁽⁵⁾	08/31/2023		M⁽⁴⁾			82,080	⁽⁹⁾	⁽⁹⁾	Common Units in Focus Financial Partners, LLC	12,839	$0	0	D
Incentive Units in Focus Financial Partners, LLC	$37.59⁽⁵⁾	08/31/2023		M⁽⁴⁾			35,322	⁽¹⁰⁾	⁽¹⁰⁾	Common Units in Focus Financial Partners, LLC	10,270	$0	0	D
Common Units in Focus Financial Partners, LLC	⁽⁴⁾	08/31/2023		M⁽⁴⁾		1,746,408		⁽⁴⁾	⁽⁴⁾	Class A Common Stock, $0.01 par value	1,746,408	⁽⁴⁾	1,795,225	D
Common Units in Focus Financial Partners, LLC	⁽⁴⁾	08/31/2023		M⁽⁴⁾			1,795,225	⁽⁴⁾	⁽⁴⁾	Class A Common Stock, $0.01 par value	1,795,225	⁽⁴⁾	0	D
Common Units in Focus Financial Partners, LLC	⁽⁴⁾	08/31/2023		M⁽⁴⁾			28,375	⁽⁴⁾	⁽⁴⁾	Class A Common Stock, $0.01 par value	28,375	$0	0	I	By Adolf Family Trust II⁽¹⁶⁾
Incentive Units in Focus Financial Partners, LLC	$11⁽⁵⁾	08/31/2023		M⁽⁴⁾			90,000	⁽⁷⁾	⁽⁷⁾	Common Units in Focus Financial Partners, LLC	71,321	$0	0	I	By Adolf Family Trust II⁽¹⁶⁾
Incentive Units in Focus Financial Partners, LLC	$12⁽⁵⁾	08/31/2023		M⁽⁴⁾			470,000	⁽⁷⁾	⁽⁷⁾	Common Units in Focus Financial Partners, LLC	363,585	$0	0	I	By Adolf Family Trust II⁽¹⁶⁾
Incentive Units in Focus Financial Partners, LLC	$23⁽⁵⁾	08/31/2023		M⁽⁴⁾			100,000	⁽⁷⁾	⁽⁷⁾	Common Units in Focus Financial Partners, LLC	56,604	$0	0	I	By Adolf Family Trust II⁽¹⁶⁾
Incentive Units in Focus Financial Partners, LLC	$27.9⁽⁵⁾	08/31/2023		M⁽⁴⁾			100,000	⁽¹¹⁾	⁽¹¹⁾	Common Units in Focus Financial Partners, LLC	47,358	$0	0	I	By Adolf Family Trust II⁽¹⁶⁾
Incentive Units in Focus Financial Partners, LLC	$44.71⁽⁵⁾	08/31/2023		M⁽⁴⁾			45,000	⁽¹²⁾	⁽¹²⁾	Common Units in Focus Financial Partners, LLC	7,039	$0	0	I	By Adolf Family Trust II⁽¹⁶⁾
Incentive Units in Focus Financial Partners, LLC	$37.59⁽⁵⁾	08/31/2023		M⁽⁴⁾			35,322	⁽¹³⁾	⁽¹³⁾	Common Units in Focus Financial Partners, LLC	10,270	$0	0	I	By Adolf Family Trust II⁽¹⁶⁾

Explanation of Responses:

1. In connection with the transactions contemplated by the Agreement and Plan of Merger, dated as of February 27, 2023, by and among the Issuer, Ferdinand FFP Acquisition, LLC ("Parent"), Ferdinand FFP Merger Sub 1, Inc. ("Company Merger Sub"), Ferdinand FFP Merger Sub 2, LLC ("LLC Merger Sub"), and Focus Financial Partners, LLC ("Focus LLC"), (a) LLC Merger Sub was merged with and into Focus LLC (the "LLC Merger") and (b) immediately after the LLC Merger, Company Merger Sub was merged with and into the Issuer (the "Company Merger" and together with the LLC Merger, the "Mergers"), with the Issuer surviving the Company Merger as a wholly-owned subsidiary of Parent.

2. At the effective time of the Company Merger, each of the reporting person's shares of Class A common stock of the Issuer (the "Class A Shares") outstanding immediately prior to the effective time of the Company Merger, was converted into the right to receive cash in an amount equal to $53.00 per Class A Share, without interest and subject to any required withholding taxes, (the "Merger Consideration"). As a result of the Mergers, the reporting person no longer beneficially owns, directly or indirectly, any Class A Shares.

3. Pursuant to Rollover Agreements, dated August 31, 2023 (the "Rollover Agreements"), among Ferdinand FFP Ultimate Holdings, LP ("Ultimate Holdings"), Ferdinand FFP Parent, Inc. ("Topco"), and the reporting person and a trust established by the reporting person, prior to the LLC Merger, the reporting person and such trust collectively contributed 188,679 Common Units of Focus LLC to Topco and subsequently contributed shares of Topco to Ultimate Holdings in exchange for a number Class A-3 non-voting units in Ultimate Holdings, calculated pursuant to the Rollover Agreements, valued at $53.00 per Common Unit (the "Rollover").

4. Subsequent to the Rollover, and immediately prior to the effective time of the LLC Merger, all of the outstanding vested Common Units and Incentive Units of Focus LLC with a hurdle amount that is less than the Merger Consideration were exchanged for Class A Shares. The Incentive Units were first converted into a number of Common Units that took into account the Merger Consideration and such Incentive Units' aggregate hurdle amount, and the resulting Common Units were then exchanged for an equal number of Class A Shares (the conversions, collectively, the "Vested Units Exchanges"). As a result of the Vested Units Exchanges, the reporting person no longer beneficially owns, directly or indirectly, any Common Units or Incentive Units.

5. The hurdle amount is set at the time of grant and typically represents the estimated fair value of a common unit on the date of grant. The figure reflected in column 2 is the hurdle amount assigned to each incentive award.

6. These Incentive Units were scheduled to vest linearly on the sixth anniversary of the Issuer's initial public offering; however, in connection with the Mergers, the reporting person agreed that 466,691 of these Incentive Units would vest immediately prior to the effective time of the Mergers and 333,309 of these Incentive Units would be forfeited and cancelled for no consideration.

7. These Incentive Units are fully vested. Incentive Units do not expire.

8. 76,697 of these Incentive Units were scheduled to vest on December 11, 2023; however, in connection with the Mergers, pursuant to the terms of the reporting person's employment agreement with the Issuer, the vesting of the Incentive Units was accelerated to immediately prior to the effective time of the Mergers. Incentive Units do not expire.

9. 41,040 of these Incentive Units were scheduled to vest in two equal installments on each anniversary of December 7, 2022; however, in connection with the Mergers, pursuant to the terms of the reporting person's employment agreement with the Issuer, the vesting of the Incentive Units was accelerated to immediately prior to the effective time of the Mergers. Incentive Units do not expire.

10. These Incentive Units were scheduled to vest in four equal installments on each anniversary of December 12, 2022; however, in connection with the Mergers, pursuant to the terms of the reporting person's employment agreement with the Issuer, the vesting of the Incentive Units was accelerated to immediately prior to the effective time of the Mergers. Incentive Units do not expire.

11. 25,000 of these Incentive Units were scheduled to vest on December 11, 2023; however, in connection with the Mergers, pursuant to the terms of the reporting person's employment agreement with the Issuer, the vesting of the Incentive Units was accelerated to immediately prior to the effective time of the Mergers. Incentive Units do not expire.

12. 22,500 of these Incentive Units were scheduled to vest in two equal installments on each anniversary of December 7, 2022; however, in connection with the Mergers, pursuant to the terms of the reporting person's employment agreement with the Issuer, the vesting of the Incentive Units was accelerated to immediately prior to the effective time of the Mergers. Incentive Units do not expire.

13. These Incentive Units were scheduled to vest in four equal installments on each anniversary of December 12, 2022; however, in connection with the Mergers, pursuant to the terms of the reporting person's employment agreement with the Issuer, the vesting of the Incentive Units was accelerated to immediately prior to the effective time of the Mergers. Incentive Units do not expire.

14. (a) 6,466 of the reporting person's Common Units were scheduled to vest on December 7, 2023, (b) 22,144 of the Common Units were scheduled to vest in three equal installments on each anniversary of December 22, 2022 and (c) 26,856 of the Common Units were scheduled to vest in four equal installments on each anniversary of December 12, 2022; however, in connection with the Mergers, pursuant to the terms of the reporting person's employment agreement with the Issuer, the vesting of the Common Units was accelerated to immediately prior to the effective time of the Mergers. In connection with such vesting, 19,014 of the reporting person's Common Units were withheld by the Issuer to satisfy the tax obligations upon vesting.

15. These Common Units are fully vested. Common Units do not expire.

16. Represents securities held by the Adolf Family Trust II, an irrevocable trust established by the reporting person for the benefit of his children. The reporting person disclaims beneficial ownership of the securities owned by the trust.

	/s/ J. Russell McGranahan as Attorney-in-Fact	09/01/2023
	** Signature of Reporting Person	Date
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.

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FOCS Focus Financial Partners Inc