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| Richard E. Thornburgh Chairman of the Board | | | Douglas L. Peterson President and Chief Executive Officer | |
| | | 55 Water Street New York, NY 10041-0003 | |
| Items of Business | | | | Board’s Recommendation | |
| 1. Elect 12 Directors; | | | | FOR each Director Nominee | |
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2. Approve, on an advisory basis, the executive compensation program for the Company’s named executive officers, as described in this Proxy Statement; | | | | FOR | | |
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Consider any other business, if properly raised. | | | | | |
| | IMPORTANT NOTICE REGARDING THE AVAILABILITY OF PROXY MATERIALS: This Notice of Annual Meeting and Proxy Statement and the Annual Report on Form 10-K for the year ended December 31, | | |
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| The Internet | | | | Signing and Mailing a Proxy Card | | | | Toll-Free Telephone | |
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| Customer at the Core | | | Grow & Innovate | | | Data & Technology | |
| Enhance the value delivered to more than 100,000 customers globally by developing integrated, cross-divisional offerings where applicable, and deepening its embedded role in the workflows of existing and new customers. | | | Boost investments and generate revenue synergies from six key areas of transformative growth over the next decade, including private markets, sustainability, climate, energy transition, credit and risk management, and emerging markets. | | | Expand the potential of data and technology through innovation, AI and machine learning; enable the success of the integration process; ensure superlative data governance and regulatory compliance; and optimize the company’s technology expenditure. | |
| Lead & Inspire | | | Execute & Deliver | |
| Engage the company’s diverse global team to ensure they benefit from future growth through ongoing investments in integration, training, and career opportunities to support their aspirations. | | | Accelerate the pace of innovation, revenue growth, adjusted operating margin, and disciplined capital management to deliver greater shareholder value. | |
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| TIME AND DATE | | | PLACE | | | RECORD DATE | |
| 8:30 am (EDT) on May 1, 2024 | | | Online at https://meetnow.global/MM7UHQT. There is no physical location for the Annual Meeting. | | | March 11, 2024 | |
| Proposals | | | Recommendation of the Board | | | Page | |
| 1. Elect 12 Directors; | | | FOR each Director Nominee | | | 6 | |
| 2. Approve, on an advisory basis, the executive compensation program for the Company’s named executive officers, as described in this Proxy Statement; | | | FOR | | | 49 | |
| 3. Approve the Company’s Director Deferred Stock Ownership Plan, as Amended and Restated; | | | FOR | | | 116 | |
| 4. Ratify the appointment of Ernst & Young LLP as the Company’s independent auditor for 2024; | | | FOR | | | 123 | |
| 5. Consider any other business, if properly raised. | | | | | | 128 | |
• Member * Committee Chair ★ Chairperson of the Board Our twelve director nominees are comprised of current directors with diverse skills, backgrounds, and experience, which the Board believes contributes to the effective oversight of the Company. The following provides current summary information about each director nominee. For more information about our director nominees, please see the “Director Skills, Qualifications and Experience” section of this Proxy Statement, including our | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | | | | Your Board of Directors recommends that you vote FOR the election of each of the Director nominees. | |
| Board Structure & Independence | |
| Independent Board Chairman Independent Committee Chairs All director nominees are independent, except our CEO Annual review of optimal Board and Committee leadership structure Executive sessions of independent directors held at every Board and Committee meeting | |
| Diversity, Accountability & Refreshment | |
| Diverse, highly skilled Board providing range of viewpoints, with documented and demonstrated commitment to Board diversity in our Corporate Governance Guidelines (in 2023, five women, two African Americans) Annual written performance evaluations of the Board, Board Chairman, Committees, Committee Chairs and each director Policies providing for normal retirement at age 72 and offer to resign upon change in circumstances, absent exception, promote refreshment Sound limits on public company board service (executive officers limited to three boards total) Strategic and proactive succession planning resulting in regular Board and Committee refreshment and range of tenures | |
| Shareholder Rights | |
| Proxy access Annual election of directors Majority voting for directors in uncontested elections Rights to call special meetings for shareholders of 25% or more of the voting stock | |
| Board Oversight | |
| Full Board oversight of corporate strategy (including dedicated annual meeting on Company strategy), succession planning and risk management Strategic and proactive executive succession planning, including annual review of emergency and normal course CEO succession planning, detailed annual talent review of Executive Committee, leadership pipeline and succession readiness Audit Committee oversight of financial statements, legal and regulatory compliance, key risks, and cybersecurity Multi-layered, formalized and documented oversight of ESG topics, including oversight of: ESG matters by the full Board pursuant to our Corporate Governance Guidelines, corporate environmental and social responsibility programs, products, reporting and progress pursuant to our Nominating Committee Charter, and human capital management (including retention, company culture and DEI initiatives) pursuant to our Compensation Committee Charter | |
| Strong Corporate Governance Practices | |
| Robust stock ownership requirements for directors and executive officers Prohibition on hedging and pledging by directors and executive officers Dodd-Frank Clawback Policy requiring recovery from executive officers in the event of financial restatement, as well as voluntary standalone policies allowing for recovery from broader group in the event of misconduct “Double trigger” vesting of equity-based awards upon a change in control Annual risk assessment of executive compensation programs, policies and practices ESG strategy and goals, including the Company’s commitment to net-zero carbon emissions by 2040 and ESG disclosures as published in our standalone Impact, DEI and TCFD Reports | |
| | | | MARCO ALVERÀ, | |
| Independent Director Since: 2017 Board Committees: Finance (Chair) Executive Nominating and Corporate Governance Other Current Listed Company Directorships: None | | | Career Highlights Other Professional Experience and Community Involvement Mr. Alverà sits on the board of the Cini Foundation in Venice. He is a co-founder of the Kenta | |
| Skills and Qualifications We believe Mr. Alverà’s qualifications to sit on our Board of Directors include his commodities and financial services industry expertise, his global perspectivegained through leadership positions in European companies doing business around the world, as well as his executive leadership, finance and strategic planning experience acquired throughout his career. | |
| | | | JACQUES ESCULIER, 64 | |
| Independent Director Since: 2022 Board Committees: Audit Finance Other Current Listed Company Directorships: Daimler Truck Holding AG | | | Career Highlights Mr. Esculier served as Chief Executive Officer and Director of WABCO Holdings Inc. from July 2007 until his retirement in May 2020 when the company was acquired. From May 2009 until his retirement, he also served as Chairman of the Board of WABCO Holdings. Prior to July 2007, Mr. Esculier served as Vice President of American Standard Companies Inc. and President of its Vehicle Control Systems business, a position he had held since January 2004. Prior to holding that position, Mr. Esculier served in the capacity of Business Leader for American Standard’s Trane Commercial Systems’ Europe, Middle East, Africa, India & Asia Region from 2002 through January 2004. Prior to joining American Standard in 2002, Mr. Esculier spent more than six years in leadership positions at AlliedSignal/Honeywell Aerospace. He was Vice President and General Manager of Environmental Control and Power Systems Enterprise based in Los Angeles and Vice President of Aftermarket Services- Asia Pacific based in Singapore. Mr. Esculier was a member of the board of directors of Pentair PLC from 2014 until May 2020. Other Professional Experience and Community Involvement Mr. Esculier was awarded the U.S. Army Commander’s Award for Civilian Service related to work on helicopters of NASA. Mr. Esculier holds a Master of Science in General Sciences from Ecole Polytechnique de Paris, a Master of Science in Aerospace from Institut Superieur de l’Aeronautique et de l’Espace and an MBA from INSEAD. | |
| Skills and Qualifications We believe Mr. Esculier’s qualifications to sit on our Board of Directors include his deep knowledge of the transportation and commodities industries and his executive leadership, strategic planning, operations and innovation and technology experience and global perspective as CEO and director of a global public company. | |
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| Independent Director Since: Board Committees: Audit Other Current Listed Company Directorships: ConocoPhilips | | | Career Highlights Other Professional Experience and Community Involvement | |
| Skills and Qualifications We believe | |
| | | | WILLIAM D. GREEN, | |
| Independent Director Since: 2011 Board Committees: Compensation and Leadership Development Executive Nominating and Corporate Governance (Chair) Other Current Listed Company Directorships: Dell Technologies, | | | Career Highlights Mr. Green is the former CEO and Chairman of Accenture, a global management consulting and technology services company. He served as Accenture’s Chief Executive Officer from September 2004 through December 2010 and assumed the additional role of Chairman from 2006-2013. He was a Director of Accenture from 2001 through January 2013. Prior to serving as Chief Executive Officer, he was Accenture’s Chief Operating Officer-Client Services with overall management responsibility for the company’s operating groups and in addition, he served as Group Chief Executive of the Communications and High Tech operating group from 1999 to 2003. He was also Group Chief Executive of the Resources operating group for two years. Earlier in his career, he led the Manufacturing industry group and was Managing Director for Accenture’s business in the United States. He joined Accenture in 1977 and became a partner in 1986. He served as a Director of EMC Corporation from July 2013 to August 2016 and as EMC’s independent Lead Director from February 2015 to August 2016. Other Professional Experience and Community Involvement In addition, Mr. Green serves on the boards of several other private companies and is on the National Board of Year Up. He is deeply involved in several organizations and business groups supporting education in the United States and around the world. He is also a frequent speaker at business, technology and academic forums worldwide. | |
| Skills and Qualifications We believe Mr. Green’s qualifications to sit on our Board of Directors and Chair our | |
| | | | STEPHANIE C. HILL, | |
| Independent Director Since: 2017 Board Committees: Compensation and Leadership Development Nominating and Corporate Governance Other Current Listed Company Directorships: None | | | Career Highlights Ms. Hill is Other Professional Experience and Community Involvement Ms. Hill serves on the Board of Visitors for the University of Maryland, Baltimore County. Ms. Hill has been recognized for her career achievements and community outreach, especially in the advancement of STEM education. In 2018, Black Enterprise named Ms. Hill as one of the “most powerful executives in corporate America.” She was recognized as one of Computerworld’s 2015 Premier 100 IT Leaders and one of Maryland’s 19th Annual International Leadership Awardees by the World Trade Center Institute. In 2014, Ms. Hill was named the U.S. Black Engineer of the Year by Career Communications Group and included on EBONY Magazine’s Power 100 list, recognizing the achievements of African-Americans in a variety of fields. She previously served on the Board of Directors for Project Lead Ms. Hill graduated with high honors from the University of Maryland, Baltimore County with a Bachelor of Science degree in Computer Science and Economics; the university also recognized her with an honorary doctorate in 2017. | |
| Skills and Qualifications We believe Ms. Hill’s qualifications to sit on our Board of Directors include her exceptional technology expertise, her audit and risk management experience as well as her depth of operational experience gained managing sizable and sensitive government projects of critical importance. | |
| | | | REBECCA JACOBY, | |
| Independent Director Since: 2014 Board Committees: Finance Nominating and Corporate Governance Other Current Listed Company Directorships: None | | | Career Highlights Ms. Jacoby was Senior Vice President, Operations of Cisco Systems, Inc., a worldwide leader in IT networking, until her retirement in January 2018. She was promoted to the role in July 2015 and was responsible for driving profitable growth and enabling operational excellence. She oversaw the supply chain, global business services, security and trust, and IT organizations. In her former role as Cisco’s CIO from 2006 to 2015, she made the Cisco IT organization a strategic business partner, producing significant business value for Cisco in the form of financial performance, customer satisfaction and loyalty, market share, and productivity. Since joining Cisco in 1995, she held a variety of leadership roles in operations, manufacturing and IT. Prior to joining Cisco, she held a range of planning and operations positions with other companies in Silicon Valley. Her extensive understanding of business operations, infrastructure and application deployments, as well as her knowledge of products, software and services helped her advance Cisco’s business through the use of Cisco technology. Since 2019, she serves on the Other Professional Experience and Community Involvement | |
| Skills and Qualifications We believe Ms. Jacoby’s qualifications to sit on our Board of Directors include her technology expertise, including an understanding of infrastructure and application deployments, products, software and services, as well as her experience leading innovative teams and extensive operational experience. | |
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| Independent Director Since: Board Committees: Compensation and Leadership Development (Chair) Executive Nominating and Corporate Governance Other Current Listed Company Directorships: None | | | Career Highlights Other Professional Experience and Community Involvement Mr. Kelly holds a B.Comm. from Saint Mary’s University and an MBA from the | |
| Skills and Qualifications We believe | |
| | | | IAN | |
| Independent Director Since:2020 Board Committees: Audit Finance Other Current Listed Company Directorships: National Grid plc | | | Career Highlights Ian Other Professional Experience and Community Involvement Lord Livingston | |
| Skills and Qualifications We believe Lord | |
| | | | MARIA R. MORRIS, | |
| Independent Director Since:2016 Board Committees: Audit (Chair) Executive Finance Other Current Listed Company Directorships: Allstate Wells Fargo & Company | | | Career Highlights Ms. Morris served on MetLife’s Executive Group for almost a decade (retired September 2017), holding numerous senior leadership positions throughout her 33-year career. From 2011 through her retirement, she was Executive Vice President, MetLife, Inc. and led the company’s Global Employee Benefits (GEB) business. In her role leading MetLife’s GEB business since 2012, she was responsible for expanding MetLife’s employee benefits business in more than 40 countries, broadening relationships and fueling growth across the globe via local solutions and partnerships with multinational corporations, as well as through distribution relationships with financial institutions. She also served as the interim Head of MetLife’s U.S. Business from January 2016 to June 2017, where she was responsible for approximately 60% of MetLife’s operating earnings, post separation of its retail business. She served as MetLife’s Interim Chief Marketing Officer in 2014, where she continued to strengthen MetLife’s brand across the globe. From 2008 to 2011, she led Global Technology and Operations, where she managed a $1.6 billion IT portfolio and a $2.5 billion procurement and real estate budget. She also oversaw the integration of MetLife’s $16.4 billion acquisition of American Life Insurance Company (Alico). Other Professional Experience and Community Involvement In addition to her executive roles, Ms. Morris serves on the Board of Allstate as well as the Board of Wells Fargo & Company where she chairs the Risk Committee. She is also a Board member of Resolution Life where she chairs the Compensation Committee. Maria is a Board Trustee and Development Committee Co-Chair of Catholic Charities of New York and a member of the Board of Directors of Helen Keller International, and served as the National Board Chair of All Stars Project, | |
| Skills and Qualifications We believe Ms. Morris’s qualifications to sit on our Board of Directors and Chair our Audit Committee include her executive leadership experience in the financial services industry, her technology expertise, | |
| | | | DOUGLAS L. PETERSON, | |
| President and Chief Executive Officer Director Since: 2013 Board Committees: Executive Other Current Listed Company Directorships: None | | | Career Highlights Mr. Peterson is a leading voice on sustainability and Other Professional Experience and Community Involvement Before joining S&P Global, Mr. Peterson was the Chief Operating Officer of Citibank, Mr. Peterson chairs the U.S.-Japan Business Council and is a member of the Boards of Directors of the Born and raised in New Mexico, Mr. Peterson received an MBA from the Wharton School at the University of Pennsylvania and an undergraduate degree from Claremont McKenna College. | |
| Skills and Qualifications As the only member of the Company’s management team on the Board, Mr. Peterson’s presence on the Board provides Directors with direct access to the Company’s chief executive officer and helps facilitate Director contact with other members of the Company’s senior management. In addition, Mr. Peterson brings extensive international expertise having led businesses in the financial services industry. | |
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| Independent Director Since: Board Committees: Executive (Chair) Compensation and Leadership Development Nominating and Corporate Governance Other Current Listed Company Directorships: | ||||
Repay Holdings Corporation | | | Career Highlights Mr. Thornburgh has been the Company’s Non-Executive Chairman since October 2020. He was previously the Non-Executive Director and Chairman of Credit Suisse Holdings (USA), Inc. He is also the former Vice Chairman of the Board of Credit Suisse Group A.G. and chaired its Risk Committee. He held key positions throughout his career with Credit Suisse First Boston (CSFB), the investment banking arm of Credit Suisse Group A.G., including Executive Vice Chairman of CSFB from 2004 through 2005. He has also held key positions with Credit Suisse Group A.G., including Chief Financial Officer, Chief Risk Officer and member of the Executive Board of Credit Suisse Group A.G. His service on the Credit Suisse boards ended at the end of fiscal year 2017. Mr. Thornburgh is a Director of Repay Holdings Corporation, and serves on its Nominating Other Professional Experience and Community Involvement Mr. Thornburgh served on the executive committee for six years and as Chairman of the Securities Industry Association in 2004. In addition, he serves on the Investment Committee as well as the advisory cabinet of the Dean of the University of | | |
| Skills and Qualifications We believe Mr. Thornburgh’s qualifications to sit on and Chair our Board of Directors | |
| | | | GREGORY WASHINGTON, 58 | |
| Independent Director Since: 2021 Board Committees: Audit Compensation and Leadership Development Other Current Listed Company Directorships: None | | | Career Highlights Dr. Washington is the President of George Mason University, Virginia’s largest and most diverse public research university. He is the former dean of the Henry Samueli School of Engineering at the University of California, Irving (UCI) and former interim dean of the College of Engineering at Ohio State University. Dr. Washington launched his academic career in 1995 as an assistant professor in the Department of Mechanical and Aerospace Engineering in the College of Engineering at Ohio State University. He became an associate professor in 2000 and a professor in 2004. He began serving as the college’s associate dean for research in 2005 and also led the university’s Institute for Energy and the Environment. From 2008 to 2011, Dr. Washington served as interim dean of the Ohio State engineering school, one of the largest in the country. Dr. Washington has conducted research for NSF, NASA, General Motors, the Air Force Research Laboratory, and the U.S. Army Research Office, among others. He has served as a member of the U.S. Air Force Scientific Advisory Board, NSF Engineering Advisory Committee, Institute for Defense Analyses, the Octane Board of Directors and other boards. Dr. Washington also is past chair of the Engineering Deans Council of the American Society for Engineering Education and a Fellow of the American Society of Mechanical Engineers. He previously served on the board of directors for Algaeventure Systems Inc. and EWI Inc. Other Professional Experience and Community Involvement Dr. Washington sits on the Board of WGL, one of the oldest utilities in the country. Dr. Washington also sits on the Board of Trustees of Internet2, a nonprofit organization that provides cloud solutions and research support services for higher education, research institutions, government, and cultural organizations. Dr. Washington earned his bachelor’s and master’s degrees and his PhD, all in mechanical engineering, at North Carolina State University. | |
| Skills and Qualifications We believe Mr. Washington’s qualifications to sit on our Board of Directors include his leadership, operations, government and public policy experienceand human capital management and social insight into the next generation of talent acquired managing large and complex educational institutions, which provides the Board with a diverse approach to management, as well as his in-depth knowledge in a number of key technology areas acquired through his engineering experience. | |
| | | Audit | | Compensation and Leadership Development | | Executive | | Finance | | Nominating and Corporate Governance | | | Audit | | Compensation and Leadership Development | | Executive | | Finance | | Nominating and Corporate Governance | | |||||||||||
| Marco Alverà | | | | | | | Chair | | | Marco Alverà | | | | | | • | | Chair | | • | | ||||||||||||
| William J. Amelio | | | | | | | | | | Jacques Esculier | | • | | | | | | • | | | | ||||||||||||
| William D. Green | | | | Chair | | | | | | Gay Huey Evans | | • | | • | | | | | | | | ||||||||||||
| Charles E. Haldeman, Jr. | | | | | | | | | William D. Green | | | | • | | • | | | | Chair | | |||||||||||||
| Stephanie C. Hill | | | | | | | | | | Stephanie C. Hill | | | | • | | | | | | • | | ||||||||||||
| Rebecca Jacoby | | | | | | | | | | Rebecca Jacoby | | | | | | | | • | | • | | ||||||||||||
| Monique F. Leroux | | | | | | | | | | Robert P. Kelly | | | | Chair | | • | | | | • | | ||||||||||||
| Ian P. Livingston | | | | | | | | | | Ian P. Livingston | | • | | | | | | • | | | | ||||||||||||
| Maria R. Morris | | Chair | | | | | | | | Deborah D. McWhinney | | • | | | | | | • | | | | ||||||||||||
| Douglas L. Peterson | | | | | | | | | | | Maria R. Morris | | Chair | | | | • | | • | | | | |||||||||||
| Edward B. Rust, Jr. | | | | | | | | Chair | | Douglas L. Peterson | | | | | | • | | | | | | ||||||||||||
| Kurt L. Schmoke | | | | | | | | | | Richard E. Thornburgh | | | | • | | Chair | | | | • | | ||||||||||||
| Richard E. Thornburgh★ | | | | | | Chair | | | | Gregory Washington | | • | | • | | | | | | | | ||||||||||||
| Number of 2020 Meetings | | 10 | | 8 | | 4 | | 6 | | 9 | | Number of 2023 Meetings | | 12 | | 6 | | 1 | | 6 | | 6 | |
| | | | | | Your Board of Directors recommends that you vote FOR the approval, on an advisory basis, of the executive compensation program for the Company’s named executive officers. | |
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| | | I. EXECUTIVE SUMMARY AND | | ||||
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| | | II. COMPENSATION FRAMEWORK | | ||||
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| | | III. ASSESSING PERFORMANCE AND DETERMINING COMPENSATION | | ||||
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| | | IV. CEO AND NEO COMPENSATION | | ||||
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| | | V. RISK MANAGEMENT AND GOVERNANCE FEATURES | | ||||
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| Customer at the Core | | | Continued to focus on the needs of customers and markets by expanding our core offerings and innovating new products, achieving our highest Net Promoter Score on record • Ranked highest amongst our peers in our Brand Impact Score, which surveys existing and potential customers of our products and solutions • Improved customer retention rates in several of our divisions last year, driven by continued product innovation, the addition of new content, speed and performance improvements and enhancements to existing workflows • Continued adoption of enterprise contracts in Market Intelligence and acceleration of enterprise agreements in Commodity Insights as we | |
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| Grow and Innovate | | | • Vitality index, which consists of revenue derived from new or enhanced products, contributed to 11% of revenue in 2023 and grew at a rate of 18% last year • Across divisions, released new and enhanced products that demonstrated not only our commitment to powering global markets, but also our strengthened capabilities from the merger • Market Intelligence: significantly enhanced Capital IQ Pro. June saw the release of one of the largest updates in years, and executed on preliminary release of our generative AI solution, Chat IQ, to a set of pilot customers in December • Ratings: leveraged our expertise in blockchain technology and cryptocurrencies to launch the first Stablecoin Stability Assessment in late 2023 • Commodity Insights: combined the most powerful features of two leading commodities platforms — Platts Dimensions Pro and IHS Connect — to create Platts Connect, which we believe is the market’s most holistic source of data, insights, and tools custom-built for commodity market participants • Indices: launched several new indices including the S&P B3 Corporate Bond Index in Brazil, multiple cross-asset indices, and new sector, factor, and thematic indices that we believe will contribute to strong growth in the years to come • Mobility: introduced multiple data sets like crucial vehicle forecast and registration data to the Market Intelligence Marketplace via both Xpressfeed and Snowflake, launched CARFAX Car Listings (encompassing both used and new) and continued to develop innovative new products, which include expanding our Sustainable Mobility proposition • Delivered double-digit growth and significant innovation in key strategic investment areas. Private Markets Solutions and Sustainability & Energy Transition both delivered double-digit growth in 2023, and we are well-positioned to continue growing in these important areas in 2024 | |
| Data and Technology | | | • Artificial intelligence (“AI”) is a key enabler of our strategic vision with some 2023 highlights including: • Leveraged existing foundational AI solutions to amplify adoption of AI across the enterprise. Internal adoption and usage of Kensho’s AI Toolkit grew >100x over 2022, which enabled downstream use of our data for Generative AI use cases • Hosted a firm-wide initiative (LLM Data Contest) garnering over 24,000 submissions to build S&P Global’s proprietary Large Language Model • Developed BizBench, an industry-leading suite of model evaluation tasks that will set the standard for measuring model performance in the domains in which we operate • Significant progress on our other technology priorities including: • Migrated ~8,000 servers and closed 5 on-prem data centers in our continued cloud journey • Consolidated ~17,000 additional colleagues post-merger into our existing Microsoft 365 tenant • Continued to enable our commercial teams by integrating the salesforce platform post-merger | |
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| Lead and Inspire | | | Held an internal event called “Accelerate Progress LIVE” to reinforce our • Published our 12th annual Impact Report, our 5th annual TCFD report, and our first-ever Diversity, Equity, and Inclusion report, taking much of the information that we have been reporting for years, enhancing our disclosures, and making that information more accessible in a dedicated report • In 2023, the number of employees volunteering in their communities increased, as did the funds granted to nonprofits by • Team of full-time career coaches engaged with more of their coworkers than | |
| | | In 2023, our • In the last two years, we delivered on bringing together two world-class organizations through a challenging macroeconomic and geopolitical environment including: • Integrated major software systems, consolidated or closed 40 of our offices globally and closed many of our data centers • Delivered $619 million dollars in cost synergies, $19 million higher than our stated target of $600 million • Ahead of schedule on our revenue synergies, with ~$152 million or 43% of our • Since the merger | | |
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| ✔ | | | | Pay-for- Performance & Shareholder Alignment | | | | Approximately Long-term incentive compensation opportunities for NEOs are equity-based and tied to business plan performance metrics. | | | | Pgs. | |
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| ✔ | | | | Robust Stock Ownership Guidelines | | | | We have meaningful stock ownership guidelines for our Directors and executive officers. The executive guidelines require 100% retention until the guidelines are met. | | | | Pg. | |
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| ✔ | | | | Annual Shareholder Say-on-Pay | | | | We value our shareholders’ input and seek an annual non-binding advisory vote from shareholders on our executive compensation program for our named executive officers. | | | | Pg. | |
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| ✔ | | | | Shareholder Outreach and Input | | | | Our outreach program gives institutional shareholders the opportunity to provide ongoing input on our programs and policies. We carefully review say-on-pay results and all shareholder feedback when structuring executive compensation. | | | | Pgs. | |
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| ✔ | | | | Anti-Hedging and Anti-Pledging Policy | | | | Our anti-hedging and anti-pledging policy prohibits Directors, officers and other designated employees from engaging in hedging and pledging transactions related to Company stock. | | | | |
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| COMPENSATION PRACTICE | | | | COMPANY POLICY | | | | MORE DETAIL | | ||||
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✗ | | | | No Single Trigger Change-in-Control | | | | Our Long-Term Incentive Plan awards are subject to “double-trigger” treatment in the case of a change-in-control (i.e., unvested awards are accelerated only if there is both a change-in-control and an involuntary termination of employment). | | | | | ||
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✗ | | | | No Excessive Perquisites | | | | We do not provide excessive executive perquisites to our NEOs and we believe our limited perquisites are reasonable and competitive. | | | | | ||
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✗ | | | | No Tax Gross-Ups | | | | We do not provide tax gross-ups in connection with any perquisites or in the event of any “golden parachute payment” in connection with a change-in-control. | | | | Pg. 85 | | |
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✗ | | | | No Dividends on Unearned Awards | | | | We do not pay dividends on unearned PSUs or RSUs. | | | | Pg. | | |
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✗ | | | | No Employment Contracts | | | | None of our NEOs | | | | Pg. | | |
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✗ | | | | Pension Benefits Frozen | | | | We froze both our defined benefit pension plans to new participants and future accruals, effective as of April 1, 2012. | | | | |
| 2020 Proxy Peer Group* | | | | Revenue ($ billions) | | | | Market Cap. ($ billions) | | 2023 Proxy Peer Group | | | | Revenue ($ billions) | | | | Market Cap. ($ billions) | | ||||||||||||
| | 25th Percentile | | | | | $ | 7.69 | | | | | | $ | 70.16 | | | |||||||||||||||
| 25th Percentile | | | | | $ | 5.59 | | | | | | $ | 22.20 | | | Median | | | | | $ | 18.22 | | | | | | $ | 83.99 | | |
| | 75th percentile | | | | | $ | 23.30 | | | | | | $ | 121.94 | | | |||||||||||||||
| Median | | | | | $ | 6.06 | | | | | | $ | 43.03 | | | S&P Global | | | | | $ | 12.50 | | | | | | $ | 138.38 | | |
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| 75th percentile | | | | | $ | 12.34 | | | | | | $ | 65.19 | | | ||||||||||||||||
| S&P Global | | | | | $ | 7.44 | | | | | | $ | 79.09 | | |
| Executive | | | | Annualized 2020 Base Salary | | | | Actual 2020 Incentive Payment | | | | Actual 2020 Long-Term Incentive Grants at Target | | | | Total 2020 Annual Compensation | | ||||||||||||||||||||||||||
| RSUs | | | | PSUs | | | | Long-Term Cash | | | |||||||||||||||||||||||||||||||||
| D. Peterson | | | | | $ | 1,000,000 | | | | | | $ | 4,615,000 | | | | | | $ | 2,700,000 | | | | | | $ | 6,300,000 | | | | | | $ | — | | | | | | $ | 14,615,000 | | |
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| E. Steenbergen | | | | | $ | 825,000 | | | | | | $ | 1,725,000 | | | | | | $ | 825,000 | | | | | | $ | 1,925,000 | | | | | | $ | — | | | | | | $ | 5,300,000 | | |
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| J. Berisford | | | | | $ | 650,000 | | | | | | $ | 1,570,000 | | | | | | $ | 540,000 | | | | | | $ | 1,260,000 | | | | | | $ | — | | | | | | $ | 4,020,000 | | |
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| M. Cheung | | | | | $ | 625,000 | | | | | | $ | 1,570,000 | | | | | | $ | 525,000 | | | | | | $ | 1,225,000 | | | | | | $ | — | | | | | | $ | 3,945,000 | | |
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| D. Draper (1) | | | | | $ | 650,000 | | | | | | $ | 1,000,000 | | | | | | $ | 1,485,000 | | | | | | $ | 490,000 | | | | | | $ | 1,050,000 | | | | | | $ | 4,675,000 | | |
| Executive | | | | Annualized 2023 Base Salary | | | | Actual 2023 Annual Incentive Payment | | | | Actual 2023 Annual Long-Term Incentive Awards at Target | | | | Total 2023 Annual Compensation | | ||||||||||||||||||||||||||
| RSUs | | | | PSUs | | | | Long-Term Cash | | | |||||||||||||||||||||||||||||||||
| D. Peterson | | | | | $ | 1,350,000 | | | | | | $ | 3,829,500 | | | | | | $ | 4,140,000 | | | | | | $ | 9,660,000 | | | | | | $ | — | | | | | | $ | 18,979,500 | | |
| E. Steenbergen | | | | | $ | 825,000 | | | | | | $ | 1,665,000 | | | | | | $ | 1,050,000 | | | | | | $ | 2,450,000 | | | | | | $ | — | | | | | | $ | 5,990,000 | | |
| M. Cheung | | | | | $ | 750,000 | | | | | | $ | 1,710,000 | | | | | | $ | 975,000 | | | | | | $ | 2,275,000 | | | | | | $ | — | | | | | | $ | 5,710,000 | | |
| A. Kansler | | | | | $ | 750,000 | | | | | | $ | 1,560,000 | | | | | | $ | 975,000 | | | | | | $ | 2,275,000 | | | | | | $ | — | | | | | | $ | 5,560,000 | | |
| D. Draper | | | | | $ | 650,000 | | | | | | $ | 1,110,000 | | | | | | $ | 240,000 | | | | | | $ | 560,000 | | | | | | $ | 1,200,000 | | | | | | $ | 3,760,000 | | |
| Executive | | | | 2020 Base Salary | | | | 2021 Base Salary | | | | % Change | | Executive | | | | 2023 Base Salary | | | | 2024 Base Salary | | | | % Change | | ||||||||||||||||||
| | D. Peterson | | | | | $ | 1,350,000 | | | | | | $ | 1,350,000 | | | | | | | —% | | | ||||||||||||||||||||||
| D. Peterson | | | | | $ | 1,000,000 | | | | | | $ | 1,000,000 | | | | | | | —% | | | E. Steenbergen | | | | | $ | 825,000 | | | | | | $ | 825,000 | | | | | | | —% | | |
| | M. Cheung | | | | | $ | 750,000 | | | | | | $ | 750,000 | | | | | | | —% | | | ||||||||||||||||||||||
| E. Steenbergen | | | | | $ | 825,000 | | | | | | $ | 825,000 | | | | | | | —% | | | A. Kansler | | | | | $ | 750,000 | | | | | | $ | 750,000 | | | | | | | —% | | |
| | D. Draper | | | | | $ | 650,000 | | | | | | $ | 650,000 | | | | | | | —% | | | ||||||||||||||||||||||
| J. Berisford | | | | | $ | 650,000 | | | | | | $ | 650,000 | | | | | | | —% | | | |||||||||||||||||||||||
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| M. Cheung | | | | | $ | 625,000 | | | | | | $ | 625,000 | | | | | | | —% | | | |||||||||||||||||||||||
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| D. Draper (1) | | | | | $ | 650,000 (2) | | | | | | $ | 650,000 | | | | | | | —% | | |
| Executive | | | | 2020 | | | | 2021 | | ||||||||||||||||||||
| Target Incentive Award | | | | Actual Incentive Award | | | | % of Target Paid | | | | Target Incentive Award | | ||||||||||||||||
| D. Peterson | | | | | $ | 3,250,000 | | | | | | $ | 4,615,000 | | | | | | | 142% | | | | | | $ | 3,250,000 | | |
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| E. Steenbergen | | | | | $ | 1,150,000 | | | | | | $ | 1,725,000 | | | | | | | 150% | | | | | | $ | 1,150,000 | | |
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| J. Berisford | | | | | $ | 1,000,000 | | | | | | $ | 1,570,000 | | | | | | | 157% | | | | | | $ | 1,000,000 | | |
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| M. Cheung | | | | | $ | 1,000,000 | | | | | | $ | 1,570,000 | | | | | | | 157% | | | | | | $ | 1,000,000 | | |
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| D. Draper (1)(2) | | | | | $ | 1,000,000 (2) | | | | | | $ | 1,000,000 | | | | | | | 100% | | | | | | $ | 1,000,000 | | |
| Executive | | | | 2023 | | | | 2024 | | ||||||||||||||||||||
| Target Incentive Award | | | | Actual Incentive Award | | | | % of Target Paid | | | | Target Incentive Award | | ||||||||||||||||
| D. Peterson | | | | | $ | 3,450,000 | | | | | | $ | 3,829,500 | | | | | | | 111% | | | | | | $ | 3,450,000 | | |
| E. Steenbergen | | | | | $ | 1,500,000 | | | | | | $ | 1,665,000 | | | | | | | 111% | | | | | | $ | — | | |
| M. Cheung | | | | | $ | 1,500,000 | | | | | | $ | 1,710,000 | | | | | | | 114% | | | | | | $ | 1,500,000 | | |
| A. Kansler | | | | | $ | 1,500,000 | | | | | | $ | 1,560,000 | | | | | | | 104% | | | | | | $ | 1,500,000 | | |
| D. Draper | | | | | $ | 1,000,000 | | | | | | $ | 1,110,000 | | | | | | | 111% | | | | | | $ | 1,000,000 | | |
| Enterprise Scorecard Category | | | | Funding | | |||
| Growth & Innovation | | | | | | 100% | | |
| Customer at the Core | | | | | | 150% | | |
| Data & Technology | | | | | | 150% | | |
| Lead & Inspire | | | | | | 100% | | |
| Execute & Deliver | | | | | | 125% | | |
| Ratings Scorecard Category | | | | Funding | | |||
| Growth & Innovation | | | | | | 75% | | |
| Customer at the Core | | | | | | 125% | | |
| Data & Technology | | | | | | 150% | | |
| Lead & Inspire | | | | | | 125% | | |
| Execute & Deliver | | | | | | 150% | | |
| Market Intelligence Scorecard Category | | | | Funding | | |||
| Growth & Innovation | | | | | | 75% | | |
| Customer at the Core | | | | | | 125% | | |
| Data & Technology | | | | | | 150% | | |
| Lead & Inspire | | | | | | 150% | | |
| Execute & Deliver | | | | | | 100% | | |
| S&P Dow Jones Indices Scorecard Category | | | | Funding | | |||
| Growth & Innovation | | | | | | 75% | | |
| Customer at the Core | | | | | | 150% | | |
| Data & Technology | | | | | | 150% | | |
| Lead & Inspire | | | | | | 100% | | |
| Execute & Deliver | | | | | | 150% | | |
| Executive | | | | 2020 Long-Term Incentive Target | | | | 2021 Long-Term Incentive Target | | Executive | | | | 2023 Long-Term Incentive Target | | | | 2024 Long-Term Incentive Target | | ||||||||||||
| | D. Peterson | | | | | $ | 13,800,000 | | | | | | $ | 16,800,000 | | | |||||||||||||||
| D. Peterson | | | | | $ | 9,000,000 | | | | | | $ | 9,750,000 | | | E. Steenbergen | | | | | $ | 3,500,000 | | | | | | $ | — | | |
| | M. Cheung | | | | | $ | 3,250,000 | | | | | | $ | 3,750,000 | | | |||||||||||||||
| E. Steenbergen | | | | | $ | 2,750,000 | | | | | | $ | 3,000,000 | | | A. Kansler | | | | | $ | 3,250,000 | | | | | | $ | 3,750,000 | | |
| | D. Draper | | | | | $ | 2,000,000 | | | | | | $ | 2,000,000 | | | |||||||||||||||
| J. Berisford | | | | | $ | 1,800,000 | | | | | | $ | 2,000,000 | | | ||||||||||||||||
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| M. Cheung | | | | | $ | 1,750,000 | | | | | | $ | 2,500,000 | | | ||||||||||||||||
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| D. Draper (1) | | | | | $ | 1,750,000 (2) | | | | | | $ | 1,750,000 | | |
| PAY ELEMENTS | | | | TREATMENT OF OUTSTANDING INCENTIVE AWARDS UPON CHANGE-IN-CONTROL (“CIC”) | |
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Short-Term Incentive Awards | | | | • Payments are made pro-rata based on the average of the three prior | | |
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RSU Awards | | | | • Double-trigger treatment: awards do not vest upon the CIC but are generally converted into RSUs of the surviving company | | |
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PSU Awards | | | | • Double-trigger treatment: • Delivery of shares in respect of converted RSUs will generally occur in the year following the end of the applicable performance period. | | |
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The Board, at its discretion, may modify or waive the applicable performance measures, performance period, or cash awards. • Under no circumstances will the timing of the award payment date be accelerated. | |
| Position | | | | Minimum Ownership Requirement (Multiple of Base Salary) | ||||
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| CEO | | | | | | 7x | | |
| CFO | | | | | | 4x | | |
| NEOs and Other Covered Executives | | | | | | 3x | | |
| Name and Principal Position | | | | Year | | | | Salary ($) | | | | Bonus ($) (1) | | | | Stock Awards ($) (2) | | | | Option Awards ($) | | | | Non-Equity Incentive Plan Compensation ($) (3) | | | | Change in Pension Value ($) (4) | | | | All Other Compensation ($) (5) | | | | Total ($) | | Name and Principal Position | | | | Year | | | | Salary ($) | | | | Bonus ($) (1) | | | | Stock Awards ($) (2) | | | | Non-Equity Incentive Plan Compensation ($) (3) | | | | Change in Pension Value and Nonqualified Deferred Compensation Earnings ($) (4) | | | | All Other Compensation ($) (5) | | | | Total ($) | | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Douglas L. Peterson President and Chief Executive Officer | | | | | | 2020 | | | | | | $ | 1,000,000 | | | | | | | — | | | | | | $ | 9,000,000 | | | | | | | — | | | | | | $ | 4,615,000 | | | | | | | — | | | | | | $ | 462,269 | | | | | | $ | 15,077,269 | | | Douglas L. Peterson President and Chief Executive Officer | | | | | | 2023 | | | | | | $ | 1,350,000 | | | | | | $ | — | | | | | | $ | 13,799,664 | | | | | | $ | 3,829,500 | | | | | | $ | — | | | | | | $ | 527,248 | | | | | | $ | 19,506,412 | | |
| | | 2019 | | | | | | $ | 1,000,000 | | | | | | | — | | | | | | $ | 8,000,000 | | | | | | | — | | | | | | $ | 2,783,000 | | | | | | | — | | | | | | $ | 369,512 | | | | | | $ | 12,152,512 | | | | | | 2022 | | | | | | $ | 1,350,000 | | | | | | $ | — | | | | | | $ | 23,799,992 | | | | | | $ | 2,760,000 | | | | | | $ | — | | | | | | $ | 727,515 | | | | | | $ | 28,637,507 | | | |||||||
| | | 2018 | | | | | | $ | 1,000,000 | | | | | | | — | | | | | | $ | 8,820,000 | | | | | | | — | | | | | | $ | 2,047,000 | | | | | | | — | | | | | | $ | 493,845 | | | | | | $ | 12,360,845 | | | | | | 2021 | | | | | | $ | 1,000,000 | | | | | | $ | — | | | | | | $ | 9,750,000 | | | | | | $ | 4,615,000 | | | | | | $ | — | | | | | | $ | 778,770 | | | | | | $ | 16,143,770 | | | |||||||
| Ewout L. Steenbergen EVP, Chief Financial Officer | | | | | | 2020 | | | | | | $ | 825,000 | | | | | | $ | 350,000 | | | | | | $ | 2,750,000 | | | | | | | — | | | | | | $ | 1,725,000 | | | | | | | — | | | | | | $ | 266,362 | | | | | | $ | 5,916,362 | | | Ewout L. Steenbergen (6) EVP, Chief Financial Officer | | | | | | 2023 | | | | | | $ | 825,000 | | | | | | $ | — | | | | | | $ | 3,499,739 | | | | | | $ | 1,665,000 | | | | | | $ | — | | | | | | $ | 288,537 | | | | | | $ | 6,278,276 | | |
| | | 2019 | | | | | | $ | 825,000 | | | | | | | — | | | | | | $ | 2,500,000 | | | | | | | — | | | | | | $ | 1,350,000 | | | | | | | — | | | | | | $ | 222,492 | | | | | | $ | 4,897,492 | | | | | | 2022 | | | | | | $ | 825,000 | | | | | | $ | — | | | | | | $ | 10,000,020 | | | | | | $ | 1,200,000 | | | | | | $ | — | | | | | | $ | 338,330 | | | | | | $ | 12,363,350 | | | |||||||
| | | 2018 | | | | | | $ | 806,250 | | | | | | | — | | | | | | $ | 2,275,000 | | | | | | | — | | | | | | $ | 975,000 | | | | | | | — | | | | | | $ | 311,098 | | | | | | $ | 4,367,348 | | | | | | 2021 | | | | | | $ | 825,000 | | | | | | $ | — | | | | | | $ | 3,000,000 | | | | | | $ | 1,633,000 | | | | | | $ | — | | | | | | $ | 338,692 | | | | | | $ | 5,796,692 | | | |||||||
| John L. Berisford President, S&P Global Ratings | | | | | | 2020 | | | | | | $ | 643,750 | | | | | | | — | | | | | | $ | 1,800,000 | | | | | | | — | | | | | | $ | 1,570,000 | | | | | | $ | 16,919 | | | | | | $ | 218,455 | | | | | | $ | 4,249,124 | | | Martina L. Cheung President, S&P Global Ratings | | | | | | 2023 | | | | | | $ | 750,000 | | | | | | $ | — | | | | | | $ | 3,249,781 | | | | | | $ | 1,710,000 | | | | | | $ | 2,621 | | | | | | $ | 225,147 | | | | | | $ | 5,937,549 | | |
| | | 2019 | | | | | | $ | 625,000 | | | | | | | — | | | | | | $ | 1,500,000 | | | | | | | — | | | | | | $ | 1,110,000 | | | | | | $ | 9,121 | | | | | | $ | 169,844 | | | | | | $ | 3,413,965 | | | | | | 2022 | | | | | | $ | 750,000 | | | | | | $ | — | | | | | | $ | 9,750,049 | | | | | | $ | 967,500 | | | | | | $ | — | | | | | | $ | 254,317 | | | | | | $ | 11,721,866 | | | |||||||
| | | 2018 | | | | | | $ | 618,750 | | | | | | | — | | | | | | $ | 1,500,000 | | | | | | | — | | | | | | $ | 541,500 | | | | | | $ | 0 | | | | | | $ | 240,466 | | | | | | $ | 2,900,716 | | | | | | 2021 | | | | | | $ | 625,000 | | | | | | $ | — | | | | | | $ | 2,500,000 | | | | | | $ | 1,350,000 | | | | | | $ | — | | | | | | $ | 280,081 | | | | | | $ | 4,755,081 | | | |||||||
| Martina Cheung President, S&P Global Market Intelligence | | | | | | 2020 | | | | | | $ | 625,000 | | | | | | $ | 750,000 | | | | | | $ | 1,750,000 | | | | | | | — | | | | | | $ | 1,570,000 | | | | | | $ | 7,002 | | | | | | $ | 199,747 | | | | | | $ | 4,901,749 | | | Adam Kansler (7) President, S&P Global Market Intelligence | | | | | | 2023 | | | | | | $ | 750,000 | | | | | | $ | — | | | | | | $ | 3,249,781 | | | | | | $ | 1,560,000 | | | | | | $ | — | | | | | | $ | 107,277 | | | | | | $ | 5,667,058 | | |
| | | 2019 | | | | | | $ | 549,527 | | | | | | | — | | | | | | $ | 1,125,000 | | | | | | | — | | | | | | $ | 910,000 | | | | | | $ | 10,816 | | | | | | $ | 103,720 | | | | | | $ | 2,699,063 | | | | | | 2022 | | | | | | $ | 625,000 | | | | | | $ | — | | | | | | $ | 11,675,492 | | | | | | $ | 1,335,000 | | | | | | $ | — | | | | | | $ | 78,243 | | | | | | $ | 13,713,735 | | | |||||||
| Daniel E. Draper Chief Executive Officer, S&P Dow Jones Indices | | | | | | 2020 | | | | | | $ | 354,546 | | | | | | $ | 750,000 | | | | | | $ | 3,025,000 | | | | | | | — | | | | | | $ | 1,000,000 | | | | | | $ | 0 | | | | | | $ | 22,444 | | | | | | $ | 5,151,990 | | | Daniel E. Draper Chief Executive Officer, S&P Dow Jones Indices | | | | | | 2023 | | | | | | $ | 650,000 | | | | | | $ | — | | | | | | $ | 799,525 | | | | | | $ | 2,937,000 | | | | | | $ | — | | | | | | $ | 244,422 | | | | | | $ | 4,630,947 | | |
| | | | 2022 | | | | | | $ | 650,000 | | | | | | $ | — | | | | | | $ | 3,799,953 | | | | | | $ | 2,817,500 | | | | | | $ | — | | | | | | $ | 299,404 | | | | | | $ | 7,566,857 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 2021 | | | | | | $ | 650,000 | | | | | | $ | 500,000 | | | | | | $ | 699,915 | | | | | | $ | 1,460,000 | | | | | | $ | — | | | | | | $ | 86,896 | | | | | | $ | 3,396,811 | | |
| Executive | | | | 2019 | | | | 2020 | | Executive | | | | 2023 | | |||||||||
| | D. Peterson | | | | | $ | 19,319,665 | | | |||||||||||||||
| D. Peterson | | | | | $ | 11,200,000 | | | | | | $ | 12,600,000 | | | E. Steenbergen | | | | | $ | 4,899,837 | | |
| | M. Cheung | | | | | $ | 4,549,897 | | | |||||||||||||||
| E. Steenbergen | | | | | $ | 3,500,000 | | | | | | $ | 3,850,000 | | | A. Kansler | | | | | $ | 4,549,897 | | |
| | D. Draper | | | | | $ | 1,119,403 | | | |||||||||||||||
| J. Berisford | | | | | $ | 2,100,000 | | | | | | $ | 2,520,000 | | | |||||||||
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| M. Cheung | | | | | $ | 1,575,000 | | | | | | $ | 2,450,000 | | | |||||||||
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| D. Draper | | | | | | N/A | | | | | | $ | 980,000 | | |
| Name | | | | 401(k) Savings and Profit Sharing Plan ($) (a) | | | | 401(k) Savings and Profit Sharing Plan Supplement ($) (a) | | | | Company Charitable Match ($) (b) | | |||||||||
| D. Peterson | | | | | $ | 32,295 | | | | | | $ | 416,240 | | | | | | $ | 50,000 | | |
| E. Steenbergen | | | | | $ | 32,295 | | | | | | $ | 186,450 | | | | | | $ | 50,000 | | |
| M. Cheung | | | | | $ | 32,295 | | | | | | $ | 152,625 | | | | | | $ | 25,000 | | |
| A. Kansler | | | | | $ | 18,550 | | | | | | $ | 37,500 | | | | | | $ | 50,000 | | |
| D. Draper | | | | | $ | 32,295 | | | | | | $ | 143,000 | | | | | | $ | 50,000 | | |
| Name | | | | 401(k) Savings and Profit Sharing Plan ($) | | | | 401(k) Savings and Profit Sharing Plan Supplement ($) | | ||||||
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| D. Peterson | | | | | $ | 27,908 | | | | | | $ | 384,780 | | |
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| E. Steenbergen | | | | | $ | 27,908 | | | | | | $ | 207,900 | | |
| ||||||||||||||||
| J. Berisford | | | | | $ | 27,908 | | | | | | $ | 161,563 | | |
| ||||||||||||||||
| M. Cheung | | | | | $ | 27,908 | | | | | | $ | 137,500 | | |
| ||||||||||||||||
| D. Draper | | | | | $ | 0 | | | | | | $ | 0 | | |
| Name | | | | Grant Date (mm/dd/yyyy) | | | | Date Approved by Compensation and Leadership Development Committee (mm/dd/yyyy) | | | | Estimated Future Payouts Under Non-Equity Incentive Plan Awards (1) | | | | Estimated Future Payouts Under Equity Incentive Plan Awards (1)(2) | | | | All Other Stock Awards: Number of Shares of Stock or Units (#) (3) | | | | All Other Option Awards: Number of Securities Underlying Options (#) | | | | Exercise or Base Price of Option Awards ($/SH) | | | | Grant Date Fair Value of Stock and Option Awards ($) (4) | | Name | | | | Grant Date (mm/dd/yyyy) | | | | Date Approved by Compensation and Leadership Development Committee (mm/dd/yyyy) | | | | Estimated Future Payouts Under Non-Equity Incentive Plan Awards (1) | | | | Estimated Future Payouts Under Equity Incentive Plan Awards (1)(2) | | | | All Other Stock Awards: Number of Shares of Stock or Units (#) (3) | | | | Grant Date Fair Value of Stock Awards ($) (4) | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Target ($) | | | | Maximum ($) | | | | Target (#) | | | | Maximum (#) | | | | Target ($) | | | | Maximum ($) | | | | Target (#) | | | | Maximum (#) | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| D. Peterson | | | | | | 4/1/2020 | | | | | | | 3/3/2020 | | | | | | $ | 3,250,000 | | | | | | $ | 6,500,000 | | | | | | | 26,885 | | | | | | | 53,770 | | | | | | | | | | | | | | | | | | | | | $ | 6,300,000 | | | D. Peterson | | | | | | | | | | | | | 2/28/2023 | | | | | | $ | 3,450,000 | | | | | | $ | 6,900,000 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | 4/1/2020 | | | | | | | 3/3/2020 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 11,522 | | | | | | | | | | | | | | $ | 2,700,000 | | | | | | 3/1/2023 | | | | | | | 2/28/2023 | | | | | | | | | | | | | | | | | | | | | 28,598 | | | | | | | 57,196 | | | | | | | | | | | | | $ | 9,659,832 | | | |||||||
| E. Steenbergen | | | | | | 4/1/2020 | | | | | | | 3/3/2020 | | | | | | $ | 1,150,000 | | | | | | $ | 2,300,000 | | | | | | | 8,215 | | | | | | | 16,430 | | | | | | | | | | | | | | | | | | | | | $ | 1,925,000 | | | | | | 3/1/2023 | | | | | | | 2/28/2023 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 12,256 | | | | | | $ | 4,139,832 | | | |||
| | | 4/1/2020 | | | | | | | 3/3/2020 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 3,521 | | | | | | | | | | | | | | $ | 825,000 | | | E. Steenbergen | | | | | | | | | | | | | 2/28/2023 | | | | | | $ | 1,500,000 | | | | | | $ | 3,000,000 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||
| J. Berisford | | | | | | 4/1/2020 | | | | | | | 3/3/2020 | | | | | | $ | 1,000,000 | | | | | | $ | 2,000,000 | | | | | | | 5,377 | | | | | | | 10,754 | | | | | | | | | | | | | | | | | | | | | $ | 1,260,000 | | | | | | 3/1/2023 | | | | | | | 2/28/2023 | | | | | | | | | | | | | | | | | | | | | 7,253 | | | | | | | 14,506 | | | | | | | | | | | | | $ | 2,449,918 | | | |||
| | | 4/1/2020 | | | | | | | 3/3/2020 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 2,304 | | | | | | | | | | | | | | $ | 540,000 | | | | | | 3/1/2023 | | | | | | | 2/28/2023 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 3,108 | | | | | | $ | 1,049,820 | | | |||||||
| M. Cheung | | | | | | 4/1/2020 | | | | | | | 3/3/2020 | | | | | | $ | 1,000,000 | | | | | | $ | 2,000,000 | | | | | | | 5,228 | | | | | | | 10,456 | | | | | | | | | | | | | | | | | | | | | $ | 1,225,000 | | | M. Cheung | | | | | | | | | | | | | 2/28/2023 | | | | | | $ | 1,500,000 | | | | | | $ | 3,000,000 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | 4/1/2020 | | | | | | | 3/3/2020 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 2,240 | | | | | | | | | | | | | | $ | 525,000 | | | | | | 3/1/2023 | | | | | | | 2/28/2023 | | | | | | | | | | | | | | | | | | | | | 6,735 | | | | | | | 13,470 | | | | | | | | | | | | | $ | 2,274,948 | | | |||||||
| D. Draper | | | | | | 7/1/2020 | | | | | | | 5/12/2020 | | | | | | $ | 1,000,000 | | | | | | $ | 2,000,000 | | | | | | | 1,465 | | | | | | | 2,930 | | | | | | | | | | | | | | | | | | | | | $ | 490,000 | | | | | | 3/1/2023 | | | | | | | 2/28/2023 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 2,886 | | | | | | $ | 974,833 | | | |||
| | | 7/1/2020 | | | | | | | 5/12/2020 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 4,439 | | | | | | | | | | | | | | $ | 1,485,000 | | | A. Kansler | | | | | | | | | | | | | 2/28/2023 | | | | | | $ | 1,500,000 | | | | | | $ | 3,000,000 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||
| | | 7/1/2020 | | | | | | | 5/12/2020 | | | | | | $ | 1,050,000 | | | | | | $ | 2,100,000 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 3/1/2023 | | | | | | | 2/28/2023 | | | | | | | | | | | | | | | | | | | | | 6,735 | | | | | | | 13,470 | | | | | | | | | | | | | $ | 2,274,948 | | | |||||||
| | | | 3/1/2023 | | | | | | | 2/28/2023 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 2,886 | | | | | | $ | 974,833 | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
D. Draper | | | | | | | | | | | | | 2/28/2023 | | | | | | $ | 1,000,000 | | | | | | $ | 2,000,000 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 3/1/2023 | | | | | | | 2/28/2023 | | | | | | | | | | | | | | | | | | | | | 1,657 | | | | | | | 3,314 | | | | | | | | | | | | | $ | 559,701 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | | 3/1/2023 | | | | | | | 2/28/2023 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 710 | | | | | | $ | 239,824 | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 3/1/2023 | | | | | | | 2/28/2023 | | | | | | $ | 1,200,000 | | | | | | $ | 2,400,000 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Name | | | | Option Awards | | | | Stock Awards | | Name | | | | Grant Date (mm/dd/yyyy) | | | | Stock Awards | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Number of Securities Underlying Unexercised Options Exercisable (#) | | | | Number of Securities Underlying Unexercised Options Unexercisable (#) | | | | Option Exercise Price ($) | | | | Option Expiration Date (mm/dd/yyyy) | | | | Number of Shares or Units of Stock That Have Not Vested (#) (1) | | | | Market Value of Shares or Units of Stock That Have Not Vested ($) (2) | | | | Equity Incentive Plan Awards: Number of Unearned Shares, Units or Other Rights That Have Not Vested (#) (3) | | | | Equity Incentive Plan Awards: Market or Payout Value of Unearned Shares, Units or Other Rights That Have Not Vested ($) (2) | | | Number of Shares or Units of Stock That Have Not Vested (#) (1) | | | | Market Value of Shares or Units of Stock That Have Not Vested ($) (2) | | | | Equity Incentive Plan Awards: Number of Unearned Shares, Units or Other Rights That Have Not Vested (#) (3)(4) | | | | Equity Incentive Plan Awards: Market or Payout Value of Unearned Shares, Units or Other Rights That Have Not Vested ($) (4)(5) | | |||||||||||||||||||||||||||||||||||||||||||||||
| D. Peterson | | | | | | 51,304 | | | | | | | | | | $ | 77.81 | | | | | | | 3/31/2024 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | D. Peterson | | | | | | 3/1/2023 | | | | | | | 8,212 | | | | | | $ | 3,617,550 | | | | | | | 57,196 | | | | | | $ | 25,195,982 | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | 22,269 | | | | | | $ | 7,320,488 | | | | | | | 106,376 | | | | | | $ | 34,968,982 | | | | | | 3/1/2022 | | | | | | | 3,604 | | | | | | $ | 1,587,634 | | | | | | | 50,335 | | | | | | $ | 22,173,574 | | | |||||||
| E. Steenbergen | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 3,557 | | | | | | $ | 1,169,293 | | | | | | | 32,870 | | | | | | $ | 10,805,355 | | | E. Steenbergen | | | | | | 3/1/2023 | | | | | | | 2,083 | | | | | | $ | 917,603 | | | | | | | 14,506 | | | | | | $ | 6,390,183 | | |
| J. Berisford | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 2,262 | | | | | | $ | 743,587 | | | | | | | 20,618 | | | | | | $ | 6,777,755 | | | | | | | | | 3/1/2022 | | | | | | | 914 | | | | | | $ | 402,635 | | | | | | | 22,915 | | | | | | $ | 10,094,516 | | |
| M. Cheung | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 2,040 | | | | | | $ | 670,609 | | | | | | | 17,854 | | | | | | $ | 5,869,145 | | | M. Cheung | | | | | | 3/1/2023 | | | | | | | 1,934 | | | | | | $ | 851,966 | | | | | | | 13,470 | | | | | | $ | 5,933,804 | | |
| D. Draper | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 4,232 | | | | | | $ | 1,391,185 | | | | | | | 2,930 | | | | | | $ | 963,179 | | | | | | 3/1/2022 | | | | | | | 850 | | | | | | $ | 374,442 | | | | | | | 22,467 | | | | | | $ | 9,897,163 | | | |||
| A. Kansler | | | | | | 3/1/2023 | | | | | | | 1,934 | | | | | | $ | 851,966 | | | | | | | 13,470 | | | | | | $ | 5,933,804 | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | | | | | 3/1/2022 | | | | | | | 850 | | | | | | $ | 374,442 | | | | | | | 22,467 | | | | | | $ | 9,897,163 | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | | | | | 2/1/2021 | | | | | | | 10,659 | | | | | | $ | 4,695,503 | | | | | | | — | | | | | | | — | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| D. Draper | | | | | | 3/1/2023 | | | | | | | 476 | | | | | | $ | 209,688 | | | | | | | 3,314 | | | | | | $ | 1,459,883 | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 3/1/2022 | | | | | | | 210 | | | | | | $ | 92,509 | | | | | | | 9,115 | | | | | | $ | 4,015,340 | | |
| Name | | | | Option Awards | | | | Stock Awards | | Name | | | | Option Awards | | | | Stock Awards | | ||||||||||||||||||||||||||||||||||||||||
| Number of Shares Acquired on Exercise (#) | | | | Value Realized on Exercise ($) (1) | | | | Number of Shares Acquired on Vesting (#) | | | | Value Realized on Vesting ($) (2) | | | Number of Shares Acquired on Exercise (#) | | | | Value Realized on Exercise ($) (1) | | | | Number of Shares Acquired on Vesting (#) | | | | Value Realized on Vesting ($) (2) | | |||||||||||||||||||||||||||||||
| D. Peterson | | | | | | — | | | | | | | — | | | | | | | 47,828 | | | | | | $ | 15,876,629 | | | D. Peterson | | | | | | 51,304 | | | | | | $ | 16,247,977 | | | | | | | 22,330 | | | | | | $ | 9,836,812 | | |
| E. Steenbergen | | | | | | — | | | | | | | — | | | | | | | 15,769 | | | | | | $ | 5,235,177 | | | E. Steenbergen | | | | | | — | | | | | | $ | — | | | | | | | 6,462 | | | | | | $ | 2,846,640 | | |
| J. Berisford | | | | | | — | | | | | | | — | | | | | | | 10,322 | | | | | | $ | 3,427,080 | | | M. Cheung | | | | | | — | | | | | | $ | — | | | | | | | 5,567 | | | | | | $ | 2,452,375 | | |
| M. Cheung | | | | | | 3,465 | | | | | | $ | 992,568 | | | | | | | 3,626 | | | | | | $ | 1,201,005 | | | A. Kansler | | | | | | — | | | | | | $ | — | | | | | | | 13,065 | | | | | | $ | 5,040,285 | | |
| D. Draper | | | | | | | | | | | | | | | | | | | | 207 | | | | | | $ | 68,047 | | | D. Draper | | | | | | — | | | | | | $ | — | | | | | | | 2,794 | | | | | | $ | 1,179,413 | | |
| Name | | | | Plan Name | | | | Number of Years of Credited Service (#) | | | | Present Value of Accumulated Benefit ($) (1)(2) | | Name | | | | Plan Name | | | | Number of Years of Credited Service (#) | | | | Present Value of Accumulated Benefit ($) (1)(2) | | ||||||||||||
| D. Peterson | | | | ERP | | | | | | — | | | | | | $ | — | | | D. Peterson | | | | ERP | | | | | | — | | | | | | $ | — | | |
| ERPS | | | | | | — | | | | | | $ | — | | | | ERPS | | | | | | — | | | | | | $ | — | | | |||||||
| Total | | | | | | | | | | | | $ | — | | | | Total | | | | | | | | | | | | $ | — | | | |||||||
| E. Steenbergen | | | | ERP | | | | | | — | | | | | | $ | — | | | E. Steenbergen | | | | ERP | | | | | | — | | | | | | $ | — | | |
| ERPS | | | | | | — | | | | | | $ | — | | | | ERPS | | | | | | — | | | | | | $ | — | | | |||||||
| Total | | | | | | | | | | | | $ | — | | | | Total | | | | | | | | | | | | $ | — | | | |||||||
| J. Berisford | | | | ERP | | | | | | 0 | | | | | | $ | 36,495 | | | M. Cheung | | | | ERP | | | | | | 1 | | | | | | $ | 20,223 | | |
| ERPS | | | | | | 0 | | | | | | $ | 26,635 | | | | ERPS | | | | | | 1 | | | | | | $ | — | | | |||||||
| Total | | | | | | | | | | | | $ | 63,130 | | | | Total | | | | | | | | | | | | $ | 20,223 | | | |||||||
| M. Cheung | | | | ERP | | | | | | 1 | | | | | | $ | 34,602 | | | A. Kansler | | | | ERP | | | | | | — | | | | | | $ | — | | |
| ERPS | | | | | | 1 | | | | | | $ | 0 | | | | ERPS | | | | | | — | | | | | | $ | — | | | |||||||
| Total | | | | | | | | | | | | $ | 34,602 | | | | Total | | | | | | | | | | | | $ | — | | | |||||||
| D. Draper | | | | ERP | | | | | | — | | | | | | $ | — | | | D. Draper | | | | ERP | | | | | | — | | | | | | $ | — | | |
| ERPS | | | | | | — | | | | | | $ | — | | | | ERPS | | | | | | — | | | | | | $ | — | | | |||||||
| Total | | | | | | | | | | | | $ | — | | | | Total | | | | | | | | | | | | $ | — | | |
| Name | | | | Plan | | | | Executive Contributions in Last Fiscal Year ($) (1) | | | | Company Contributions in Last Fiscal Year ($) (2) | | | | Aggregate Earnings in Last Fiscal Year ($) (3) | | | | Aggregate Withdrawals/ Distributions ($) | | | | Aggregate Balance at Last Fiscal Year End ($) (4) | | Name | | | | Plan | | | | Executive Contributions in Last Fiscal Year ($) (1) | | | | Company Contributions in Last Fiscal Year ($) (2) | | | | Aggregate Earnings in Last Fiscal Year ($) (3) | | | | Aggregate Withdrawals/ Distributions ($) | | | | Aggregate Balance at Last Fiscal Year End ($) | | ||||||||||||||||||||||||||||||
| D. Peterson | | | | SIPS & ERAPS | | | | | $ | 874,500 | | | | | | $ | 384,780 | | | | | | $ | 101,905 | | | | | | | — | | | | | | $ | 5,088,566 | | | D. Peterson | | | | 401(k) Plan Supplement | | | | | $ | 946,000 | | | | | | $ | 416,240 | | | | | | $ | 296,865 | | | | | | | — | | | | | | $ | 10,930,541 | | |
| ST Incentive Deferred Comp | | | | | | — | | | | | | | — | | | | | | $ | 15,485 | | | | | | | — | | | | | | $ | 630,019 | | | | ST Incentive Deferred Comp | | | | | | — | | | | | | | — | | | | | | $ | 32,251 | | | | | | | — | | | | | | $ | 686,810 | | | |||||||
| Total | | | | | $ | 874,500 | | | | | | $ | 384,780 | | | | | | $ | 117,390 | | | | | | | — | | | | | | $ | 5,718,585 | | | | Total | | | | | $ | 946,000 | | | | | | $ | 416,240 | | | | | | $ | 329,116 | | | | | | $ | — | | | | | | $ | 11,617,351 | | | |||||||
| E. Steenbergen | | | | SIPS & ERAPS | | | | | $ | 113,400 | | | | | | $ | 207,900 | | | | | | $ | 20,324 | | | | | | | — | | | | | | $ | 1,101,712 | | | E. Steenbergen | | | | 401(k) Plan Supplement | | | | | $ | 101,700 | | | | | | $ | 186,450 | | | | | | $ | 53,154 | | | | | | | — | | | | | | $ | 2,245,823 | | |
| ST Incentive Deferred Comp | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | ST Incentive Deferred Comp | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | |||||||
| Total | | | | | $ | 113,400 | | | | | | $ | 207,900 | | | | | | $ | 20,324 | | | | | | | — | | | | | | $ | 1,101,712 | | | | Total | | | | | $ | 101,700 | | | | | | $ | 186,450 | | | | | | $ | 53,154 | | | | | | $ | — | | | | | | $ | 2,245,823 | | | |||||||
| J. Berisford | | | | SIPS & ERAPS | | | | | $ | 94,785 | | | | | | $ | 161,563 | | | | | | $ | 33,591 | | | | | | | — | | | | | | $ | 1,646,042 | | | M. Cheung | | | | 401(k) Plan Supplement | | | | | $ | 277,500 | | | | | | $ | 152,625 | | | | | | $ | 55,610 | | | | | | | — | | | | | | $ | 2,383,162 | | |
| ST Incentive Deferred Comp | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | ST Incentive Deferred Comp | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | |||||||
| Total | | | | | $ | 94,785 | | | | | | $ | 161,563 | | | | | | $ | 33,591 | | | | | | | | | | | | | $ | 1,646,042 | | | | Total | | | | | $ | 277,500 | | | | | | $ | 152,625 | | | | | | $ | 55,610 | | | | | | $ | — | | | | | | $ | 2,383,162 | | | |||||||
| M. Cheung | | | | SIPS & ERAPS | | | | | $ | 150,000 | | | | | | $ | 137,500 | | | | | | $ | 15,803 | | | | | | | — | | | | | | $ | 860,879 | | | A. Kansler | | | | 401(k) Plan Supplement | | | | | $ | 156,250 | | | | | | $ | 37,500 | | | | | | $ | 1,910 | | | | | | | — | | | | | | $ | 195,660 | | |
| ST Incentive Deferred Comp | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | ST Incentive Deferred Comp | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | |||||||
| Total | | | | | $ | 150,000 | | | | | | $ | 137,500 | | | | | | $ | 15,803 | | | | | | | | | | | | | $ | 860,879 | | | | Total | | | | | $ | 156,250 | | | | | | $ | 37,500 | | | | | | $ | 1,910 | | | | | | $ | — | | | | | | $ | 195,660 | | | |||||||
| D. Draper | | | | SIPS & ERAPS | | | | | $ | — | | | | | | $ | — | | | | | | $ | — | | | | | | | — | | | | | | $ | — | | | D. Draper | | | | 401(k) Plan Supplement | | | | | $ | 78,000 | | | | | | $ | 143,000 | | | | | | $ | 10,393 | | | | | | | — | | | | | | $ | 542,764 | | |
| ST Incentive Deferred Comp | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | ST Incentive Deferred Comp | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | |||||||
| Total | | | | | $ | — | | | | | | $ | — | | | | | | $ | — | | | | | | | — | | | | | | $ | — | | | | Total | | | | | $ | 78,000 | | | | | | $ | 143,000 | | | | | | $ | 10,393 | | | | | | $ | — | | | | | | $ | 542,764 | | |
| Name | | | | Payment on Termination ($) (1) | | | | Payment on Termination Following Change-in-Control ($) (2) | | ||||||
| D. Peterson | | | | | $ | 2,852,302 | | | | | | $ | 10,097,302 | | |
| E. Steenbergen | | | | | $ | 1,302,306 | | | | | | $ | 4,906,056 | | |
| M. Cheung | | | | | $ | 1,186,967 | | | | | | $ | 4,749,467 | | |
| A. Kansler | | | | | $ | 6,045,959 | | | | | | $ | 6,045,959 | | |
| D. Draper | | | | | $ | 1,029,432 | | | | | | $ | 3,486,932 | | |
| Name | | | | Payment on Termination ($) (1) | | | | Payment on Change-in-Control ($) (2) | | ||||||
| D. Peterson | | | | | $ | 3,829,500 | | | | | | $ | 3,996,667 | | |
| E. Steenbergen | | | | | $ | 1,665,000 | | | | | | $ | 1,519,333 | | |
| M. Cheung | | | | | $ | 1,710,000 | | | | | | $ | 1,295,833 | | |
| A. Kansler | | | | | $ | 1,560,000 | | | | | | $ | 1,335,000 | | |
| D. Draper | | | | | $ | 1,110,000 | | | | | | $ | 1,146,667 | | |
| Name | | | | Termination of Employment | | | | Change-in-Control | | ||||||
| Long-Term Awards ($) (1) (2) | | | | Long-Term Awards ($) (1) (3) | | ||||||||||
| D. Peterson | | | | | $ | 33,314,325 | | | | | | $ | 39,976,749 | | |
| E. Steenbergen | | | | | $ | 12,671,117 | | | | | | $ | 14,609,846 | | |
| M. Cheung | | | | | $ | 12,261,434 | | | | | | $ | 14,090,473 | | |
| A. Kansler | | | | | $ | 16,956,936 | | | | | | $ | 18,785,975 | | |
| D. Draper | | | | | $ | 4,509,163 | | | | | | $ | 5,047,478 | | |
| Name | | | | Payment on Termination ($) (1) | | | | Payment on Termination Following Change-in-Control ($) (2) | | ||||||
| D. Peterson | | | | | $ | 2,852,302 | | | | | | $ | 10,097,302 | | |
| E. Steenbergen | | | | | $ | 1,302,306 | | | | | | $ | 4,906,056 | | |
| M. Cheung | | | | | $ | 1,186,967 | | | | | | $ | 4,749,467 | | |
| A. Kansler | | | | | $ | 6,045,959 | | | | | | $ | 6,045,959 | | |
| D. Draper | | | | | $ | 1,029,432 | | | | | | $ | 3,486,932 | | |
| Name | | | | Payment on Termination ($) (1) | | | | Payment on Change-in-Control ($) (2) | | ||||||
| D. Peterson | | | | | $ | 3,829,500 | | | | | | $ | 3,996,667 | | |
| E. Steenbergen | | | | | $ | 1,665,000 | | | | | | $ | 1,519,333 | | |
| M. Cheung | | | | | $ | 1,710,000 | | | | | | $ | 1,295,833 | | |
| A. Kansler | | | | | $ | 1,560,000 | | | | | | $ | 1,335,000 | | |
| D. Draper | | | | | $ | 1,110,000 | | | | | | $ | 1,146,667 | | |
| Name | | | | Termination of Employment | | | | Change-in-Control | | ||||||
| Long-Term Awards ($) (1) (2) | | | | Long-Term Awards ($) (1) (3) | | ||||||||||
| D. Peterson | | | | | $ | 33,314,325 | | | | | | $ | 39,976,749 | | |
| E. Steenbergen | | | | | $ | 12,671,117 | | | | | | $ | 14,609,846 | | |
| M. Cheung | | | | | $ | 12,261,434 | | | | | | $ | 14,090,473 | | |
| A. Kansler | | | | | $ | 16,956,936 | | | | | | $ | 18,785,975 | | |
| D. Draper | | | | | $ | 4,509,163 | | | | | | $ | 5,047,478 | | |
| Name | | | | Payment on Termination ($) (1) | | | | Payment on Termination Following Change-in-Control ($) (2) | | Name | | | | Payment on Termination ($) (1) | | | | Payment on Termination Following Change-in-Control ($) (2) | | ||||||||||||
| D. Peterson | | | | | $ | 2,111,387 | | | | | | $ | 8,925,000 | | | D. Peterson | | | | | $ | 2,852,302 | | | | | | $ | 10,097,302 | | |
| E. Steenbergen | | | | | $ | 1,295,931 | | | | | | $ | 4,147,500 | | | E. Steenbergen | | | | | $ | 1,302,306 | | | | | | $ | 4,906,056 | | |
| J. Berisford | | | | | $ | 1,025,582 | | | | | | $ | 3,465,000 | | | M. Cheung | | | | | $ | 1,186,967 | | | | | | $ | 4,749,467 | | |
| M. Cheung | | | | | $ | 986,832 | | | | | | $ | 3,412,500 | | | A. Kansler | | | | | $ | 6,045,959 | | | | | | $ | 6,045,959 | | |
| D. Draper | | | | | $ | 657,422 | | | | | | $ | 3,465,000 | | | D. Draper | | | | | $ | 1,029,432 | | | | | | $ | 3,486,932 | | |
| Name | | | | Payment on Termination ($) (1) | | | | Payment on Change-in-Control ($) (2) | | Name | | | | Payment on Termination ($) (1) | | | | Payment on Change-in-Control ($) (2) | | ||||||||||||
| D. Peterson | | | | | $ | 3,250,000 | | | | | | $ | 2,690,000 | | | D. Peterson | | | | | $ | 3,829,500 | | | | | | $ | 3,996,667 | | |
| E. Steenbergen | | | | | $ | 1,150,000 | | | | | | $ | 1,425,000 | | | E. Steenbergen | | | | | $ | 1,665,000 | | | | | | $ | 1,519,333 | | |
| J. Berisford | | | | | $ | 1,000,000 | | | | | | $ | 983,833 | | | M. Cheung | | | | | $ | 1,710,000 | | | | | | $ | 1,295,833 | | |
| M. Cheung | | | | | $ | 1,000,000 | | | | | | $ | 582,667 | | | A. Kansler | | | | | $ | 1,560,000 | | | | | | $ | 1,335,000 | | |
| D. Draper | | | | | $ | 1,000,000 | | | | | | $ | 916,483 | | | D. Draper | | | | | $ | 1,110,000 | | | | | | $ | 1,146,667 | | |
| Name | | | | Termination of Employment | | | | Change-in-Control | | Name | | | | Termination of Employment | | | | Change-in-Control | | ||||||||||||||||||||||||||||||||||||||||
| Stock Options ($) (1) | | | | Long-Term Awards ($) (1) (2) | | | | Total ($) | | | | Stock Options ($) (1) | | | | Long-Term Awards ($) (1) (3) | | | | Total ($) | | | Long-Term Awards ($) (1) (2) | | | | Long-Term Awards ($) (1) (3) | | |||||||||||||||||||||||||||||||
| D. Peterson | | | | | $ | — | | | | | | $ | 36,296,526 | | | | | | $ | 36,296,526 | | | | | | $ | — | | | | | | $ | 40,527,610 | | | | | | $ | 40,527,610 | | | D. Peterson | | | | | $ | 33,314,325 | | | | | | $ | 39,976,749 | | |
| E. Steenbergen | | | | | $ | — | | | | | | $ | 10,462,223 | | | | | | $ | 10,462,223 | | | | | | $ | — | | | | | | $ | 11,755,776 | | | | | | $ | 11,755,776 | | | E. Steenbergen | | | | | $ | 12,671,117 | | | | | | $ | 14,609,846 | | |
| J. Berisford | | | | | $ | — | | | | | | $ | 6,679,195 | | | | | | $ | 6,679,195 | | | | | | $ | — | | | | | | $ | 7,525,675 | | | | | | $ | 7,525,675 | | | M. Cheung | | | | | $ | 12,261,434 | | | | | | $ | 14,090,473 | | |
| M. Cheung | | | | | $ | — | | | | | | $ | 3,974,346 | | | | | | $ | 3,974,346 | | | | | | $ | — | | | | | | $ | 4,797,157 | | | | | | $ | 4,797,157 | | | A. Kansler | | | | | $ | 16,956,936 | | | | | | $ | 18,785,975 | | |
| D. Draper | | | | | $ | — | | | | | | $ | 1,781,183 | | | | | | $ | 1,781,183 | | | | | | $ | — | | | | | | $ | 2,990,822 | | | | | | $ | 2,990,822 | | | D. Draper | | | | | $ | 4,509,163 | | | | | | $ | 5,047,478 | | |
| | | | | | | | | | | | | | | | | | | | | Value of Initial Fixed $100 Investment Based On: | | | | | | | | | |||||||||||||||||||||||||||||
| Year (a) | | | | Summary Compensation Table Total for CEO (1) ($) (b) | | | | “Compensation Actually Paid” to CEO (2) ($) (c) | | | | Average Summary Compensation Table Total for Non-CEO NEOs (1) ($) (d) | | | | Average “Compensation Actually Paid” to Non-CEO NEOs (2) ($) (e) | | | | Total Shareholder Return (3) ($) (f) | | | | Peer Group Total Shareholder Return (3) ($) (g) | | | | Net Income (in Millions) (4) ($) (h) | | | | Non-GAAP ICP Adjusted Diluted Earnings Per Share (5) ($) (i) | | ||||||||||||||||||||||||
| 2023 | | | | | $ | 19,506,412 | | | | | | $ | 31,021,988 | | | | | | $ | 5,628,458 | | | | | | $ | 9,139,695 | | | | | | $ | 133 | | | | | | $ | 131 | | | | | | $ | 2,893 | | | | | | $ | 14.06 | | |
| 2022 | | | | | $ | 28,637,507 | | | | | | $ | (9,225,719) | | | | | | $ | 11,341,452 | | | | | | $ | 3,426,362 | | | | | | $ | 72 | | | | | | $ | 76 | | | | | | $ | 3,522 | | | | | | $ | 12.36 | | |
| 2021 | | | | | $ | 16,143,770 | | | | | | $ | 45,607,587 | | | | | | $ | 5,083,397 | | | | | | $ | 11,305,553 | | | | | | $ | 145 | | | | | | $ | 128 | | | | | | $ | 3,263 | | | | | | $ | 13.43 | | |
| 2020 | | | | | $ | 15,077,269 | | | | | | $ | 31,868,869 | | | | | | $ | 4,792,308 | | | | | | $ | 7,574,701 | | | | | | $ | 121 | | | | | | $ | 121 | | | | | | $ | 2,534 | | | | | | $ | 11.78 | | |
| | | | | CEO 2023 | | | | Non-CEO NEOs 2023 | | ||||||
| Summary Compensation Table Total | | | | | $ | 19,506,412 | | | | | | $ | 5,628,458 | | |
| Less Stock Award Value Reported in Summary Compensation Table for the Covered Year | | | | | $ | (13,799,664) | | | | | | $ | (2,699,707) | | |
| Plus Year-End Fair Value of Outstanding Unvested Awards Granted in the Covered Year | | | | | $ | 18,357,200 | | | | | | $ | 3,591,516 | | |
| Change in Fair Value of Outstanding Unvested Awards from Prior Years | | | | | $ | 1,841,115 | | | | | | $ | 1,633,292 | | |
| Plus Fair Value as of the Vesting Date of Vested Awards Granted in the Covered Year | | | | | $ | 1,781,463 | | | | | | $ | 348,341 | | |
| Change in Fair Value of Awards from Prior Years that Vested in the Covered Year | | | | | $ | 2,750,185 | | | | | | $ | 569,923 | | |
| Less Fair Value of Awards Forfeited during the Covered Year | | | | | $ | — | | | | | | $ | — | | |
| Plus Fair Value of Incremental Dividends or Earnings Paid on Stock Awards | | | | | $ | 585,277 | | | | | | $ | 68,527 | | |
| Less Aggregate Change in Actuarial Present Value of Accumulated Benefit Under Pension Plans | | | | | $ | — | | | | | | $ | (655) | | |
| Plus Aggregate Service Cost and Prior Service Cost for Pension Plans | | | | | $ | — | | | | | | $ | — | | |
| “Compensation Actually Paid” | | | | | $ | 31,021,988 | | | | | | $ | 9,139,695 | | |
| Performance Measure | | | | Considerations | |
| Non-GAAP ICP Adjusted Diluted EPS | | | | Used as the sole metric for our 3-year long-term Performance Share Unit (PSU) Awards, which account for the largest component of executive pay, this metric drives long-term value creation for our shareholders, as it considers capital allocation decisions as well as the importance of continual discipline in operating performance | |
| Non-GAAP ICP Adjusted Revenue Growth | | | | Used to determine 35% of annual short-term incentive pool funding for our NEOs, this metric strengthens the importance of growth and scale to our Company | |
| Non-GAAP ICP Adjusted EBITA Margin | | | | Used to determine 35% of annual short-term incentive pool funding for our NEOs, this metric draws focus on margin expansion driven by revenue growth, cost discipline and productivity | |
| Name | | | | Fees Earned or Paid in Cash ($) | | | | Stock Awards ($) (1) | | | | All Other Compensation ($) (2) | | | | Total ($) | | Name | | | | Fees Earned or Paid in Cash ($) | | | | Stock Awards ($) (1) | | | | All Other Compensation ($) (2) | | | | Total ($) | | ||||||||||||||||||||||||
| | Marco Alverà | | | | | $ | 130,000 | | | | | | $ | 176,250 | | | | | | $ | 60 | | | | | | $ | 306,310 | | | |||||||||||||||||||||||||||||
| Marco Alverà | | | | | $ | 115,750 | | | | | | $ | 160,000 | | | | | | $ | 127 | | | | | | $ | 275,877 | | | Jacques Esculier | | | | | $ | 120,250 (3) | | | | | | $ | 176,250 | | | | | | $ | 60 | | | | | | $ | 296,560 | | |
| | Gay Huey Evans | | | | | $ | 118,750 | | | | | | $ | 176,250 | | | | | | $ | 11,285 | | | | | | $ | 306,285 | | | |||||||||||||||||||||||||||||
| William J. Amelio | | | | | $ | 117,000 | | | | | | $ | 160,000 | | | | | | $ | 127 | | | | | | $ | 277,127 | | | William D. Green | | | | | $ | 128,500 | | | | | | $ | 176,250 | | | | | | $ | 60 | | | | | | $ | 304,810 | | |
| | Stephanie C. Hill | | | | | $ | 113,500 | | | | | | $ | 176,250 | | | | | | $ | 10,060 | | | | | | $ | 299,810 | | | |||||||||||||||||||||||||||||
| William D. Green | | | | | $ | 125,000 | | | | | | $ | 160,000 | | | | | | $ | 127 | | | | | | $ | 285,127 | | | Rebecca Jacoby | | | | | $ | 115,000 | | | | | | $ | 176,250 | | | | | | $ | 60 | | | | | | $ | 291,310 | | |
| | Robert P. Kelly | | | | | $ | 128,500 (3) | | | | | | $ | 176,250 | | | | | | $ | 25,060 | | | | | | $ | 329,810 | | | |||||||||||||||||||||||||||||
| Charles E. Haldeman, Jr. | | | | | $ | 224,500 (4) | | | | | | $ | 160,000 | | | | | | $ | 127 | | | | | | $ | 384,627 | | | Ian P. Livingston | | | | | $ | 120,250 | | | | | | $ | 176,250 | | | | | | $ | 50,060 | | | | | | $ | 346,560 | | |
| | Deborah D. McWhinney | | | | | $ | 120,250 | | | | | | $ | 176,250 | | | | | | $ | 50,060 | | | | | | $ | 346,560 | | | |||||||||||||||||||||||||||||
| Stephanie C. Hill | | | | | $ | 115,000 | | | | | | $ | 160,000 | | | | | | $ | 127 | | | | | | $ | 275,127 | | | Maria R. Morris | | | | | $ | 136,500 | | | | | | $ | 176,250 | | | | | | $ | 50,060 | | | | | | $ | 362,810 | | |
| | Richard E. Thornburgh | | | | | $ | 269,750 | | | | | | $ | 176,250 | | | | | | $ | 50,060 | | | | | | $ | 496,060 | | | |||||||||||||||||||||||||||||
| Rebecca J. Jacoby | | | | | $ | 112,000 | | | | | | $ | 160,000 | | | | | | $ | 127 | | | | | | $ | 272,127 | | | Gregory Washington | | | | | $ | 118,750 (4) | | | | | | $ | 176,250 | | | | | | $ | 50,060 | | | | | | $ | 345,060 | | |
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| Monique F. Leroux | | | | | $ | 115,000 | | | | | | $ | 160,000 | | | | | | $ | 127 | | | | | | $ | 275,127 | | | ||||||||||||||||||||||||||||||
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Ian P. Livingston (3) | | | | | $ | 28,750 | | | | | | $ | 53,333 | | | | | | $ | 11 | | | | | | $ | 82,094 | | | ||||||||||||||||||||||||||||||
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| Maria R. Morris | | | | | $ | 132,000 | | | | | | $ | 160,000 | | | | | | $ | 5,127 | | | | | | $ | 297,127 | | | ||||||||||||||||||||||||||||||
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| Edward B. Rust, Jr. | | | | | $ | 125,000 | | | | | | $ | 160,000 | | | | | | $ | 127 | | | | | | $ | 285,127 | | | ||||||||||||||||||||||||||||||
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| Kurt L. Schmoke | | | �� | | $ | 110,000 (5) | | | | | | $ | 160,000 | | | | | | $ | 127 | | | | | | $ | 270,127 | | | ||||||||||||||||||||||||||||||
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| Richard E. Thornburgh | | | | | $ | 164,500 | | | | | | $ | 160,000 | | | | | | $ | 127 | | | | | | $ | 324,627 | | |
| Name | | | | # of Shares | | |||
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Stephanie C. Hill | | | | | | | | ||
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Rebecca Jacoby | | | | | | | | ||
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Ian P. Livingston | | | | | | | | ||
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| Name | | | | Company Charitable Match | | |||
| Gay Huey Evans | | | | | $ | 11,225 | | |
| Stephanie Hill | | | | | $ | 10,000 | | |
| Robert Kelly | | | | | $ | 25,000 | | |
| Ian P. Livingston | | | | | $ | 50,000 | | |
| Deborah D. McWhinney | | | | | $ | 50,000 | | |
| Maria R. Morris | | | | | $ | 50,000 | | |
| Richard E. Thornburgh | | | | | $ | 50,000 | | |
| Gregory Washington | | | | | $ | 50,000 | | |
| DIRECTOR COMPENSATION PRACTICE | | | | COMPANY POLICY | | | | MORE DETAIL | |||||
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| ✔ | | | | Emphasis on Equity Compensation | | | | The most significant portion of non-employee Director compensation is the annual equity grant payable as an annual deferred share award. | | | | Pg. 114 | |
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| ✔ | | | | Holding Requirement | | | | Our non-employee Directors must hold all equity compensation granted to them in the form of deferred share credits during their tenure until they retire, and shares of the Company’s common stock underlying these awards are not delivered until following a Director’s termination of Board membership. | | | | Pg. | |
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| ✔ | | | | Robust Stock Ownership Guidelines | | | | Our Director stock ownership guidelines require Directors to acquire | | | | Pg. | |
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| ✔ | | | | Anti-Hedging and Anti-Pledging Policy | | | | Our anti-hedging and anti-pledging policy prohibits Directors from engaging in hedging and pledging transactions related to Company stock. | | | | Pg. | |
| Compensation Elements | | | | 2023 | | ||||||||||
| Effective January 1 - September 30 (Prorated) | | | | Effective October 1 - December 31 (Prorated) | | ||||||||||
| Annual Cash Retainer | | | | | $ | 90,000 | | | | | | $ | 100,000 | | |
| Board Non-Executive Chair Annual Cash Retainer | | | | | $ | 150,000 | | | | | | $ | 175,000 | | |
| Board and Committee Fees | | | | None | | | | None | | ||||||
| Annual Committee Chair Cash Retainer | | | | | | | | | | | | | | | |
| Audit Chair | | | | | $ | 15,000 | | | | | | $ | 20,000 | | |
| Compensation, Nominating and Finance Chair | | | | | $ | 15,000 | | | | | | $ | 15,000 | | |
| Annual Committee Member Cash Retainer | | | | | | | | | | | | | | | |
| Audit Committee | | | | | $ | 15,000 | | | | | | $ | 18,000 | | |
| Compensation and Nominating Committees | | | | | $ | 10,000 | | | | | | $ | 12,000 | | |
| Finance Committee | | | | | $ | 12,000 | | | | | | $ | 12,000 | | |
| Annual Deferred Share Credit | | | | | $ | 160,000 | | | | | | $ | 225,000 | | |
| Name and Position | | | | Director Plan (amended and restated) | | ||||||||||
| Dollar Value ($) (1) | | | | Number of Units (2) | | ||||||||||
| Non-Executive Director Group | | | | | | 2,700,000 | | | | | | | 6,187.13 | | |
| Plan category | | | | Equity Compensation Plans’ Information | | |||||||||||||||||
| (a) | | | | (b) | | | | (c) | | |||||||||||||
| Number of securities to be issued upon exercise of outstanding options, warrants and rights | | | | Weighted-average exercise price of outstanding options, warrants and rights | | | | Number of securities remaining available for future issuance under equity compensation plans (excluding securities reflected in column (a)) | | |||||||||||||
| Equity compensation plans approved by security holders | | | | | | 1,421,496 (1) | | | | | | $ | 77.25 (2) | | | | | | | 18,816,023 (3)(4) | | |
| Equity compensation plans not approved by security holders | | | | | | — | | | | | | $ | — | | | | | | | — | | |
| Total | | | | | | 1,421,496 | | | | | | $ | 77.25 | | | | | | | 18,816,023 | | |
| | | | | | Your Board of Directors recommends that you vote FOR the approval of the Director Deferred Stock Ownership Plan, as Amended and Restated. | |
| Name of Beneficial Owner | | | | Sole Voting Power and Sole Investment Power (#) | | | | Shared Voting Power and Shared Investment Power (#) | | | | Right to Acquire Shares within 60 Days by Exercise of Options (#) | | | | Total Number of Shares Beneficially Owned (#) | | | | Percent of Common Stock (%) (1) | | | | Director Deferred Stock Ownership Plan (#) (3) | | Name of Beneficial Owner | | | | Sole Voting Power and Sole Investment Power (#) | | | | Shared Voting Power and Shared Investment Power (#) | | | | Right to Acquire Shares within 60 Days by Exercise of Options (#) | | | | Total Number of Shares Beneficially Owned (#) | | | | Percent of Common Stock (%) (1) | | | | Director Deferred Stock Ownership Plan (#) (3) | | ||||||||||||||||||||||||||||||||||||
| | Marco Alverà | | | | | | 400 | | | | | | | | | | | | | | — | | | | | | | 400 | | | | | | | (4) | | | | | | | 4,065 | | | |||||||||||||||||||||||||||||||||||||||||||
| Marco Alverà | | | | | | 400 | | | | | | | — | | | | | | | — | | | | | | | 400 | | | | | | | (4) | | | | | | | 2,748 | | | Martina L. Cheung | | | | | | 13,325 | | | | | | | | | | | | | | — | | | | | | | 13,325 | | | | | | | (4) | | | | | | | | | |
| | Daniel E. Draper | | | | | | 4,358 | | | | | | | | | | | | | | — | | | | | | | 4,358 | | | | | | | (4) | | | | | | | | | | |||||||||||||||||||||||||||||||||||||||||||
| William J. Amelio | | | | | | 400 | | | | | | | — | | | | | | | — | | | | | | | 400 | | | | | | | (4) | | | | | | | 971 | | | Jacques Esculier | | | | | | 1,273 | | | | | | | | | | | | | | — | | | | | | | 1,273 | | | | | | | (4) | | | | | | | 1,427 | | |
| | Gay Huey Evans | | | | | | 490 | | | | | | | | | | | | | | — | | | | | | | 490 | | | | | | | (4) | | | | | | | 853 | | | |||||||||||||||||||||||||||||||||||||||||||
| John L. Berisford | | | | | | 31,793 | | | | | | | — | | | | | | | — | | | | | | | 31,793 | | | | | | | (4) | | | | | | | — | | | William D. Green | | | | | | 1,000 | | | | | | | | | | | | | | — | | | | | | | 1,000 | | | | | | | (4) | | | | | | | 14,269 | | |
| | Stephanie C. Hill | | | | | | 400 | | | | | | | | | | | | | | — | | | | | | | 400 | | | | | | | (4) | | | | | | | 4,225 | | | |||||||||||||||||||||||||||||||||||||||||||
| Martina L. Cheung | | | | | | 9,242 | | | | | | | — | | | | | | | — | | | | | | | 9,242 | | | | | | | (4) | | | | | | | — | | | Rebecca Jacoby | | | | | | 400 | | | | | | | | | | | | | | — | | | | | | | 400 | | | | | | | (4) | | | | | | | 7,058 | | |
| | Adam Kansler | | | | | | 51,134 | | | | | | | | | | | | | | — | | | | | | | 51,134 | | | | | | | (4) | | | | | | | | | | |||||||||||||||||||||||||||||||||||||||||||
| Daniel E. Draper | | | | | | 125 | | | | | | | — | | | | | | | — | | | | | | | 125 | | | | | | | (4) | | | | | | | — | | | Robert P. Kelly | | | | | | 31,673 | | | | | | | | | | | | | | — | | | | | | | 31,673 | | | | | | | (4) | | | | | | | 1,440 | | |
| | Ian P. Livingston | | | | | | — | | | | | | | | | | | | | | — | | | | | | | — | | | | | | | (4) | | | | | | | 1,413 | | | |||||||||||||||||||||||||||||||||||||||||||
| William D. Green | | | | | | 1,000 | | | | | | | — | | | | | | | — | | | | | | | 1,000 | | | | | | | (4) | | | | | | | 12,702 | | | Deborah D. McWhinney | | | | | | 10,736 | | | | | | | | | | | | | | — | | | | | | | 10,736 | | | | | | | (4) | | | | | | | 853 | | |
| | Maria R. Morris | | | | | | 400 | | | | | | | | | | | | | | — | | | | | | | 400 | | | | | | | (4) | | | | | | | 4,509 | | | |||||||||||||||||||||||||||||||||||||||||||
| Charles E. Haldeman, Jr. | | | | | | 3,000 | | | | | | | — | | | | | | | — | | | | | | | 3,000 | | | | | | | (4) | | | | | | | 22,208 | | | Douglas L. Peterson | | | | | | 167,913 | | | | | | | | | | | | | | | | | | | | | 167,913 | | | | | | | (4) | | | | | | | | | |
| | Ewout L. Steenbergen | | | | | | 6,760 | | | | | | | | | | | | | | — | | | | | | | 6,760 | | | | | | | (4) | | | | | | | | | | |||||||||||||||||||||||||||||||||||||||||||
| Stephanie C. Hill | | | | | | 400 | | | | | | | — | | | | | | | — | | | | | | | 400 | | | | | | | (4) | | | | | | | 2,904 | | | Richard E. Thornburgh | | | | | | 1,300 | | | | | | | 3,300 (5) | | | | | | | — | | | | | | | 4,600 | | | | | | | (4) | | | | | | | 14,845 | | |
| | Gregory Washington | | | | | | — | | | | | | | | | | | | | | — | | | | | | | — | | | | | | | (4) | | | | | | | 1,100 | | | |||||||||||||||||||||||||||||||||||||||||||
| Rebecca J. Jacoby | | | | | | 400 | | | | | | | — | | | | | | | — | | | | | | | 400 | | | | | | | (4) | | | | | | | 5,667 | | | | | ||||||||||||||||||||||||||||||||||||||||||
| | All Directors and executive officers of the Company as a group (a total of 24, including those named above) (6) | | | | | | 345,338 | | | | | | | 3,300 | | | | | | | — | | | | | | | 348,638 | | | | | | | 0.1% | | | | | | | 56,057 | | | |||||||||||||||||||||||||||||||||||||||||||
| Monique F. Leroux | | | | | | 500 | | | | | | | — | | | | | | | — | | | | | | | 500 | | | | | | | (4) | | | | | | | 3,180 | | | ||||||||||||||||||||||||||||||||||||||||||||
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Ian P. Livingston | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | (4) | | | | | | | 160 | | | ||||||||||||||||||||||||||||||||||||||||||||
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Maria R. Morris | | | | | | 400 | | | | | | | — | | | | | | | — | | | | | | | 400 | | | | | | | (4) | | | | | | | 3,180 | | | ||||||||||||||||||||||||||||||||||||||||||||
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Douglas L. Peterson | | | | | | 156,411 | | | | | | | — | | | | | | | 51,304 | | | | | | | 207,715 | | | | | | | (4) | | | | | | | — | | | ||||||||||||||||||||||||||||||||||||||||||||
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Edward B. Rust, Jr. | | | | | | 2,000 | | | | | | | — | | | | | | | — | | | | | | | 2,000 | | | | | | | (4) | | | | | | | 75,163 | | | ||||||||||||||||||||||||||||||||||||||||||||
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Kurt L. Schmoke | | | | | | 1,036 | | | | | | | — | | | | | | | — | | | | | | | 1,036 | | | | | | | (4) | | | | | | | 47,038 | | | ||||||||||||||||||||||||||||||||||||||||||||
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Ewout L. Steenbergen | | | | | | 19,767 | | | | | | | — | | | | | | | — | | | | | | | 19,767 | | | | | | | (4) | | | | | | | — | | | ||||||||||||||||||||||||||||||||||||||||||||
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Richard E. Thornburgh | | | | | | 1,300 | | | | | | | 3,300 (5) | | | �� | | | | — | | | | | | | 1,300 | | | | | | | (4) | | | | | | | 11,928 | | | ||||||||||||||||||||||||||||||||||||||||||||
| | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| All Directors and executive officers of the Company as a group (a total of 23, including those named above) (6) | | | | | | 267,350 | | | | | | | 6,550 | | | | | | | 53,591 | | | | | | | 3,24,191 | | | | | | | 0.1% | | | | | | | 187,848 | | |
| Name and Address of Beneficial Owner | | | | Sole or Shared Voting Power (#) | | | | Sole or Shared Dispositive Power (#) | | | | Total Number of Shares Beneficially Owned (#) | | | | Percent of Common Stock (%) (1) | | Name and Address of Beneficial Owner | | | | Sole or Shared Voting Power (#) | | | | Sole or Shared Dispositive Power (#) | | | | Total Number of Shares Beneficially Owned (#) | | | | Percent of Common Stock (%) (1) | | ||||||||||||||||||||||||
| | The Vanguard Group 100 Vanguard Blvd. Malvern, Pennsylvania 19355 (2) | | | | | | 407,386 | | | | | | | 28,795,643 | | | | | | | 28,795,643 | | | | | | | 9.09% | | | |||||||||||||||||||||||||||||
| The Vanguard Group 100 Vanguard Blvd. Malvern, Pennsylvania 19355 (2) | | | | | | 404,344 | | | | | | | 20,303,558 | | | | | | | 20,303,558 | | | | | | | 8.44% | | | BlackRock, Inc. 50 Hudson Yards New York, New York 10001 (3) | | | | | | 21,706,580 | | | | | | | 24,233,211 | | | | | | | 24,233,211 | | | | | | | 7.60% | | |
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| BlackRock, Inc. 55 East 52nd Street New York, New York 10055 (3) | | | | | | 14,637,688 | | | | | | | 17,874,864 | | | | | | | 17,874,864 | | | | | | | 7.40% | | |
| | | | | | Your Board of Directors recommends that you vote FOR the ratification of Ernst & Young LLP as the Company’s independent registered public accounting firm for 2024. | |
| Services Rendered | | | | Year Ended 12/31/20 | | | | Year Ended 12/31/19 | | Services Rendered | | | | Year Ended 12/31/23 | | | | Year Ended 12/31/22 | | ||||||||||||
| | Audit Fees | | | | | $ | 13,030,000 | | | | | | $ | 15,115,000 | | | |||||||||||||||
| Audit Fees | | | | | $ | 5,847,000 | | | | | | $ | 7,356,000 | | | Audit-Related Fees | | | | | $ | 4,701,000 | | | | | | $ | 3,748,000 | | |
| | Tax Compliance Fees | | | | | $ | 1,795,000 | | | | | | $ | 2,318,000 | | | |||||||||||||||
| Audit-Related Fees | | | | | $ | 1,760,000 | | | | | | $ | 1,825,000 | | | All Other Fees | | | | | $ | 2,000 | | | | | | | 2,000 | | |
| ||||||||||||||||||||||||||||||||
| Tax Compliance Fees | | | | | $ | 1,085,000 | | | | | | $ | 2,349,000 | | | ||||||||||||||||
| ||||||||||||||||||||||||||||||||
| All Other Fees | | | | | $ | 2,000 | | | | | | | — | | |
| Year ended December 31, 2020* | | | | Revenue | | | | EBITA | | | | Diluted Earnings per Share** | | | | EBITA Margin (Operating Profit Margin) | | ||||||||||||
| ||||||||||||||||||||||||||||||
| SPGI | | | | (dollars in millions, except per share data) | | ||||||||||||||||||||||||
| ||||||||||||||||||||||||||||||
| As reported | | | | | $ | 7,442 | | | | | | $ | 3,617 | | | | | | $ | 9.66 | | | | | | | 48.6% | | |
| Non-GAAP Adjustments: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| ||||||||||||||||||||||||||||||
| Ratings adjustments, including technology-related impairment charge, lease-related costs, and employee severance charges | | | | | | — | | | | | | | 19 | | | | | | | 0.08 | | | | | | | — | | |
| ||||||||||||||||||||||||||||||
| MI adjustments, including employee severance charges, lease-related costs, and gain on dispositions | | | | | | — | | | | | | | 18 | | | | | | | 0.07 | | | | | | | — | | |
| ||||||||||||||||||||||||||||||
| Platts adjustments, including employee severance charges and lease-related costs | | | | | | — | | | | | | | 13 | | | | | | | 0.06 | | | | | | | — | | |
| ||||||||||||||||||||||||||||||
| Indices adjustments, including employee severance charges, lease impairment charge, technology-related impairment charge, and lease-related costs | | | | | | — | | | | | | | 12 | | | | | | | 0.05 | | | | | | | — | | |
| ||||||||||||||||||||||||||||||
| Corporate adjustments, including Kensho retention related expense, employee severance charges, lease impairments, gain on dispositions, and IHS Markit merger costs | | | | | | — | | | | | | | 166 | | | | | | | 0.68 | | | | | | | — | | |
| ||||||||||||||||||||||||||||||
| Deal-related amortization | | | | | | — | | | | | | | 123 | | | | | | | 0.51 | | | | | | | — | | |
| ||||||||||||||||||||||||||||||
| Other expense (pension-related charge) | | | | | | — | | | | | | | — | | | | | | | 0.01 | | | | | | | — | | |
| ||||||||||||||||||||||||||||||
| Loss on extinguishment of debt (costs associated with early repayment of senior notes) | | | | | | — | | | | | | | — | | | | | | | 1.15 | | | | | | | — | | |
| ||||||||||||||||||||||||||||||
| Provision for income taxes | | | | | | — | | | | | | | — | | | | | | | (0.57) | | | | | | | — | | |
| ||||||||||||||||||||||||||||||
| Non-controlling interest adjustment | | | | | | — | | | | | | | — | | | | | | | (0.02) | | | | | | | — | | |
| Non-GAAP adjustment subtotal | | | | | | — | | | | | | | 351 | | | | | | | 2.03 | | | | | | | — | | |
| Adjusted | | | | | $ | 7,442 | | | | | | $ | 3,967 | | | | | | $ | 11.69 | | | | | | | 53.3% | | |
| ||||||||||||||||||||||||||||||
| Further Non-GAAP ICP Adjustments: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| ||||||||||||||||||||||||||||||
| FX | | | | | | 0 | | | | | | | (21) | | | | | | | — | | | | | | | — | | |
| ||||||||||||||||||||||||||||||
| 2020 Acquisitions | | | | | | (30) | | | | | | | 6 | | | | | | | — | | | | | | | — | | |
| ||||||||||||||||||||||||||||||
| Unspent Investment Fund | | | | | | — | | | | | | | (15) | | | | | | | — | | | | | | | — | | |
| ||||||||||||||||||||||||||||||
| 2018 Kensho Acquisition | | | | | | — | | | | | | | — | | | | | | | 0.09 | | | | | | | — | | |
| Further Non-GAAP ICP Adjustment subtotal | | | | | | (30) | | | | | | | (29) | | | | | | | 0.09 | | | | | | | — | | |
| ICP Adjusted | | | | | $ | 7,412 | | | | | | $ | 3,938 | | | | | | $ | 11.78 | | | | | | | 53.1% | | |
| Year ended December 31, 2023* | | | | Revenue | | | | EBITA | | | | Diluted Earnings per Share** | | | | EBITA Margin (Operating Profit Margin) | | ||||||||||||
| SPGI | | | | (dollars in millions, except per share data) | | ||||||||||||||||||||||||
| As reported | | | | | $ | 12,497 | | | | | | $ | 4,020 | | | | | | $ | 8.23 | | | | | | | 32.2% | | |
| Non-GAAP Adjustments: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Market Intelligence adjustments, including merger related costs, acquisition related costs, employee severance charges, gain on disposition, asset impairment and asset write-off | | | | | | | | | | | | | 168 | | | | | | | 0.53 | | | | | | | | | |
| Ratings adjustments, including employee severance charges and asset impairment | | | | | | | | | | | | | 11 | | | | | | | 0.03 | | | | | | | | | |
| Commodity Insights adjustments, including employee severance charges, merger related costs and acquisition-related costs | | | | | | | | | | | | | 62 | | | | | | | 0.19 | | | | | | | | | |
| Mobility adjustments, including employee severance charges, merger related costs and acquisition-related costs | | | | | | | | | | | | | 15 | | | | | | | 0.05 | | | | | | | | | |
| Indices adjustments, including merger related costs, employee severance charges and gain on disposition | | | | | | | | | | | | | 5 | | | | | | | 0.02 | | | | | | | | | |
| Corporate adjustments, including merger related costs, acquisition related costs, employee severance charges, loss on disposition, lease impairments, disposition-related costs and asset impairment | | | | | | | | | | | | | 354 | | | | | | | 1.11 | | | | | | | | | |
| Deal-related amortization | | | | | | | | | | | | | 1,097 | | | | | | | 3.44 | | | | | | | | | |
| Other expenses (pension-related charge) | | | | | | | | | | | | | | | | | | | | 0.07 | | | | | | | | | |
| Interest expense adjustments, including premium amortization benefit | | | | | | | | | | | | | | | | | | | | (0.08) | | | | | | | | | |
| Provision for income taxes | | | | | | | | | | | | | | | | | | | | (0.99) | | | | | | | | | |
| Non-GAAP adjustment subtotal | | | | | | 0 | | | | | | | 1,712 | | | | | | | 4.37 | | | | | | | | | |
| Adjusted | | | | | $ | 12,497 | | | | | | $ | 5,732 | | | | | | $ | 12.60 | | | | | | | 45.9% | | |
| Further Non-GAAP ICP Adjustments: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Foreign exchange | | | | | | (1) | | | | | | | 14 | | | | | | | | | | | | | | | | |
| Unspent investment funds | | | | | | | | | | | | | (12) | | | | | | | | | | | | | | | | |
| Acquisitions | | | | | | (40) | | | | | | | (3) | | | | | | | | | | | | | | | | |
| Divestitures | | | | | | 71 | | | | | | | 21 | | | | | | | | | | | | | | | | |
| Gross to net adjustments | | | | | | 6 | | | | | | | | | | | | | | | | | | | | | | | |
| Adjustment for plan tax rate | | | | | | | | | | | | | | | | | | | | (0.24) | | | | | | | | | |
| Adjustment for dilution related to with IHS Markit and divestitures of CUSIP and LCD | | | | | | | | | | | | | | | | | | | | 1.43 | | | | | | | | | |
| Adjustment for divestiture of Engineering Solutions | | | | | | | | | | | | | | | | | | | | 0.13 | | | | | | | | | |
| Suspension of Russia operations relief | | | | | | | | | | | | | | | | | | | | 0.14 | | | | | | | | | |
| Further Non-GAAP ICP Adjustment subtotal | | | | | | 36 | | | | | | | 20 | | | | | | | 1.46 | | | | | | | | | |
| ICP Adjusted | | | | | $ | 12,533 | | | | | | $ | 5,752 | | | | | | $ | 14.06 | | | | | | | 45.9% | | |
| Year ended December 31, 2020* | | | | Revenue | | | | EBITA | | | | EBITA Margin (Operating Profit Margin) | | |||||||||
| |||||||||||||||||||||||
| Ratings | | | | (dollars in millions, except per share data) | | |||||||||||||||||
| |||||||||||||||||||||||
| As reported | | | | | $ | 3,606 | | | | | | $ | 2,223 | | | | | | | 61.6% | | |
| Non-GAAP Adjustments: | | | | | | | | | | | | | | | | | | | | | | |
| |||||||||||||||||||||||
| Technology-related impairment charge | | | | | | — | | | | | | | 11 | | | | | | | — | | |
| |||||||||||||||||||||||
| Lease-related costs | | | | | | — | | | | | | | 5 | | | | | | | — | | |
| |||||||||||||||||||||||
| Employee severance charges | | | | | | — | | | | | | | 4 | | | | | | | — | | |
| |||||||||||||||||||||||
| Deal-related amortization | | | | | | — | | | | | | | 7 | | | | | | | — | | |
| Non-GAAP adjustment subtotal | | | | | | — | | | | | | | 26 | | | | | | | — | | |
| Adjusted | | | | | $ | 3,606 | | | | | | $ | 2,249 | | | | | | | 62.4% | | |
| |||||||||||||||||||||||
| Further Non-GAAP ICP Adjustments: | | | | | | | | | | | | | | | | | | | | | | |
| |||||||||||||||||||||||
| Foreign exchange | | | | | | 1 | | | | | | | (10) | | | | | | | — | | |
| |||||||||||||||||||||||
| 2020 Acquisitions | | | | | | (30) | | | | | | | 6 | | | | | | | — | | |
| |||||||||||||||||||||||
| Unspent Investment Fund | | | | | | — | | | | | | | (4) | | | | | | | — | | |
| |||||||||||||||||||||||
| Scorecard and enterprise performance | | | | | | — | | | | | | | 18 | | | | | | | — | | |
| Further Non-GAAP ICP Adjustment subtotal | | | | | | (29) | | | | | | | 10 | | | | | | | — | | |
| ICP Adjusted | | | | | $ | 3,577 | | | | | | $ | 2,259 | | | | | | | 63.2% | | |
| Year ended December 31, 2023* | | | | Revenue | | | | EBITA | | | | EBITA Margin (Operating Profit Margin) | | |||||||||
| Market Intelligence | | | | (dollars in millions) | | |||||||||||||||||
| As reported | | | | | $ | 4,376 | | | | | | $ | 714 | | | | | | | 16.3% | | |
| Non-GAAP Adjustments: | | | | | | | | | | | | | | | | | | | | | | |
| Acquisition related costs | | | | | | | | | | | | | 69 | | | | | | | | | |
| Employee severance charges | | | | | | | | | | | | | 90 | | | | | | | | | |
| Merger related costs | | | | | | | | | | | | | 49 | | | | | | | | | |
| Gain on disposition | | | | | | | | | | | | | (46) | | | | | | | | | |
| Asset impairment | | | | | | | | | | | | | 5 | | | | | | | | | |
| Asset write-off | | | | | | | | | | | | | 1 | | | | | | | | | |
| Deal-related amortization | | | | | | | | | | | | | 561 | | | | | | | | | |
| Non-GAAP adjustment subtotal | | | | | | 0 | | | | | | | 729 | | | | | | | | | |
| Adjusted | | | | | $ | 4,376 | | | | | | $ | 1,443 | | | | | | | 33.0% | | |
| Further Non-GAAP ICP Adjustments: | | | | | | | | | | | | | | | | | | | | | | |
| Foreign exchange | | | | | | (1) | | | | | | | 11 | | | | | | | | | |
| Unspent investment funds | | | | | | | | | | | | | (7) | | | | | | | | | |
| Acquisitions | | | | | | (14) | | | | | | | 5 | | | | | | | | | |
| Reallocation of costs and reclassification of assets between divisions | | | | | | 9 | | | | | | | 2 | | | | | | | | | |
| Short-term incentive overperformance | | | | | | | | | | | | | 11 | | | | | | | | | |
| Further Non-GAAP ICP Adjustment subtotal | | | | | | (6) | | | | | | | 23 | | | | | | | | | |
| ICP Adjusted | | | | | $ | 4,370 | | | | | | $ | 1,466 | | | | | | | 33.5% | | |
| Year ended December 31, 2020* | | | | Revenue | | | | EBITA | | | | EBITA Margin (Operating Profit Margin) | | |||||||||
| |||||||||||||||||||||||
| Market Intelligence | | | | (dollars in millions, except per share data) | | |||||||||||||||||
| |||||||||||||||||||||||
| As reported | | | | | $ | 2,106 | | | | | | $ | 589 | | | | | | | 28.0% | | |
| Non-GAAP Adjustments: | | | | | | | | | | | | | | | | | | | | | | |
| |||||||||||||||||||||||
| Employee severance charges | | | | | | — | | | | | | | 27 | | | | | | | — | | |
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| Lease-related costs | | | | | | — | | | | | | | 3 | | | | | | | — | | |
| |||||||||||||||||||||||
| Gain on dispositions | | | | | | — | | | | | | | (12) | | | | | | | — | | |
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| Deal-related amortization | | | | | | — | | | | | | | 76 | | | | | | | — | | |
| Non-GAAP adjustment subtotal | | | | | | — | | | | | | | 94 | | | | | | | — | | |
| Adjusted | | | | | $ | 2,106 | | | | | | $ | 683 | | | | | | | 32.4% | | |
| |||||||||||||||||||||||
| Further Non-GAAP ICP Adjustments: | | | | | | | | | | | | | | | | | | | | | | |
| |||||||||||||||||||||||
| Foreign exchange | | | | | | (1) | | | | | | | (5) | | | | | | | — | | |
| |||||||||||||||||||||||
| Kensho revenue adjustment | | | | | | (1) | | | | | | | (1) | | | | | | | — | | |
| |||||||||||||||||||||||
| Unspent Investment Fund | | | | | | — | | | | | | | (5) | | | | | | | — | | |
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| Scorecard and Enterprise | | | | | | — | | | | | | | 10 | | | | | | | — | | |
| |||||||||||||||||||||||
| Further Non-GAAP ICP Adjustment subtotal | | | | | | (2) | | | | | | | (2) | | | | | | | — | | |
| ICP Adjusted | | | | | $ | 2,104 | | | | | | $ | 681 | | | | | | | 32.4% | | |
| Year ended December 31, 2023* | | | | Revenue | | | | EBITA | | | | EBITA Margin (Operating Profit Margin) | | |||||||||
| Ratings | | | | (dollars in millions) | | |||||||||||||||||
| As reported | | | | | $ | 3,332 | | | | | | $ | 1,864 | | | | | | | 55.9% | | |
| Non-GAAP Adjustments: | | | | | | | | | | | | | | | | | | | | | | |
| Employee severance charges | | | | | | | | | | | | | 10 | | | | | | | | | |
| Asset impairment | | | | | | | | | | | | | 1 | | | | | | | | | |
| Deal related amortization | | | | | | | | | | | | | 8 | | | | | | | | | |
| Non-GAAP adjustment subtotal | | | | | | 0 | | | | | | | 19 | | | | | | | | | |
| Adjusted | | | | | $ | 3,332 | | | | | | $ | 1,882 | | | | | | | 56.5% | | |
| Further Non-GAAP ICP Adjustments: | | | | | | | | | | | | | | | | | | | | | | |
| Foreign exchange | | | | | | (1) | | | | | | | 2 | | | | | | | | | |
| Unspent investment funds | | | | | | | | | | | | | (3) | | | | | | | | | |
| Short-term incentive overperformance | | | | | | | | | | | | | 13 | | | | | | | | | |
| Further Non-GAAP ICP Adjustment subtotal | | | | | | (1) | | | | | | | 12 | | | | | | | | | |
| ICP Adjusted | | | | | $ | 3,331 | | | | | | $ | 1,895 | | | | | | | 56.9% | | |
| Year ended December 31, 2020* | | | | Revenue | | | | EBITA | | | | EBITA Margin (Operating Profit Margin) | | |||||||||
| |||||||||||||||||||||||
| Platts | | | | (dollars in millions, except per share data) | | |||||||||||||||||
| |||||||||||||||||||||||
| As reported | | | | | $ | 878 | | | | | | $ | 457 | | | | | | | 52.1% | | |
| Non-GAAP Adjustments: | | | | | | | | | | | | | | | | | | | | | | |
| |||||||||||||||||||||||
| Employee severance charges | | | | | | — | | | | | | | 11 | | | | | | | — | | |
| |||||||||||||||||||||||
| Lease-related costs | | | | | | — | | | | | | | 2 | | | | | | | — | | |
| |||||||||||||||||||||||
| Deal-related amortization | | | | | | — | | | | | | | 9 | | | | | | | — | | |
| Non-GAAP adjustment subtotal | | | | | | — | | | | | | | 22 | | | | | | | — | | |
| Adjusted | | | | | $ | 878 | | | | | | $ | 480 | | | | | | | 54.7% | | |
| |||||||||||||||||||||||
| Further Non-GAAP ICP Adjustments: | | | | | | | | | | | | | | | | | | | | | | |
| |||||||||||||||||||||||
| Foreign exchange | | | | | | — | | | | | | | (6) | | | | | | | — | | |
| |||||||||||||||||||||||
| Net Unspent Investment Fund and New Strategic Funds | | | | | | — | | | | | | | (0) | | | | | | | — | | |
| |||||||||||||||||||||||
| Scorecard and Enterprise | | | | | | — | | | | | | | 4 | | | | | | | — | | |
| Further Non-GAAP ICP Adjustment subtotal | | | | | | — | | | | | | | (2) | | | | | | | — | | |
| ICP Adjusted | | | | | $ | 878 | | | | | | $ | 478 | | | | | | | 54.4% | | |
| Year ended December 31, 2023* | | | | Revenue | | | | EBITA | | | | EBITA Margin (Operating Profit Margin) | | |||||||||
| Indices | | | | (dollars in millions) | | |||||||||||||||||
| As reported | | | | | $ | 1,403 | | | | | | $ | 925 | | | | | | | 66.0% | | |
| Non-GAAP Adjustments: | | | | | | | | | | | | | | | | | | | | | | |
| Employee severance charges | | | | | | | | | | | | | 5 | | | | | | | | | |
| Merger related costs | | | | | | | | | | | | | 4 | | | | | | | | | |
| Gain on disposition | | | | | | | | | | | | | (4) | | | | | | | | | |
| Deal related amortization | | | | | | | | | | | | | 36 | | | | | | | | | |
| Non-GAAP adjustment subtotal | | | | | | 0 | | | | | | | 42 | | | | | | | | | |
| Adjusted | | | | | $ | 1,403 | | | | | | $ | 967 | | | | | | | 68.9% | | |
| Further Non-GAAP ICP Adjustments: | | | | | | | | | | | | | | | | | | | | | | |
| Foreign exchange | | | | | | 1 | | | | | | | | | | | | | | | | |
| Unspent investment funds | | | | | | | | | | | | | (4) | | | | | | | | | |
| Short-term incentive overperformance | | | | | | | | | | | | | 2 | | | | | | | | | |
| Further Non-GAAP ICP Adjustment subtotal | | | | | | 1 | | | | | | | (2) | | | | | | | | | |
| ICP Adjusted | | | | | $ | 1,403 | | | | | | $ | 964 | | | | | | | 68.7% | | |
| Year ended December 31, 2020* | | | | Revenue | | | | EBITA | | | | EBITA Margin (Operating Profit Margin) | | |||||||||
| |||||||||||||||||||||||
| Indices | | | | (dollars in millions, except per share data) | | |||||||||||||||||
| |||||||||||||||||||||||
| As reported | | | | | $ | 989 | | | | | | $ | 666 | | | | | | | 67.4% | | |
| Non-GAAP Adjustments: | | | | | | | | | | | | | | | | | | | | | | |
| |||||||||||||||||||||||
| Employee severance charges | | | | | | — | | | | | | | 5 | | | | | | | — | | |
| |||||||||||||||||||||||
| Lease impairment charge | | | | | | — | | | | | | | 4 | | | | | | | — | | |
| |||||||||||||||||||||||
| Technology-related impairment charge | | | | | | — | | | | | | | 2 | | | | | | | — | | |
| |||||||||||||||||||||||
| Lease-related costs | | | | | | — | | | | | | | 1 | | | | | | | — | | |
| |||||||||||||||||||||||
| Deal-related amortization | | | | | | — | | | | | | | 6 | | | | | | | — | | |
| Non-GAAP adjustment subtotal | | | | | | — | | | | | | | 18 | | | | | | | — | | |
| Adjusted | | | | | $ | 989 | | | | | | $ | 684 | | | | | | | 69.1% | | |
| |||||||||||||||||||||||
| Further Non-GAAP ICP Adjustments: | | | | | | | | | | | | | | | | | | | | | | |
| |||||||||||||||||||||||
| Foreign exchange | | | | | | — | | | | | | | (0) | | | | | | | — | | |
| |||||||||||||||||||||||
| New strategic initiative funding | | | | | | — | | | | | | | 1 | | | | | | | — | | |
| |||||||||||||||||||||||
| Scorecard and Enterprise | | | | | | — | | | | | | | 4 | | | | | | | — | | |
| Further Non-GAAP ICP Adjustment subtotal | | | | | | — | | | | | | | 4 | | | | | | | — | | |
| ICP Adjusted | | | | | $ | 989 | | | | | | $ | 687 | | | | | | | 69.5% | | |