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| Charles E. Haldeman, Jr. 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 | |
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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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| 3. Approve an amendment to the Company’s | | | | 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, http://investor.spglobal.com/Annual-Meeting-Proxy-Materials/Index?KeyGenPage=1073751594. | |
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| The Internet | | | | Signing and Proxy Card | | | | Toll-Free Telephone | | | | In Person at the Annual Meeting | |
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| IMPORTANT NOTICE REGARDING POTENTIAL CHANGES IN MEETING LOGISTICS: We intend to hold our Annual Meeting in person. However, we continue to actively monitor coronavirus (COVID-19) developments, sensitive to the public health and travel concerns of our shareholders and the protocols that public health authorities and federal, state, and local governments may impose or recommend. The health and well-being of all of our various stakeholders is our top priority. | |
| In the event we determine it is not possible or advisable to hold our Annual Meeting as currently planned, we will announce alternative arrangements, which may include a change in location or holding the Annual Meeting solely by means of remote communication (i.e., a virtual-only meeting). We will announce any such change as promptly as practicable and the details on how to attend, participate in and vote at the Annual Meeting will be issued by press release, posted on our website and filed with the SEC as additional soliciting materials. | |
| If you plan to attend the Annual Meeting in person, please monitor our Investor Relations website at http://investor.spglobal.com/ and check the website in advance of the Annual Meeting for any updates. Please also retain your Annual Meeting shareholder communications for access details you will need in the event we decide to hold a virtual-only meeting. A virtual-only meeting will have no impact on your ability to provide your proxy prior to the Annual Meeting by using the Internet or telephone or by completing, signing, dating and mailing your proxy card, as explained in this Proxy Statement. | |
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| IMPORTANT NOTICE REGARDING POTENTIAL CHANGES IN MEETING LOGISTICS: We intend to hold our Annual Meeting in person. However, we continue to actively monitor coronavirus (COVID-19) developments, sensitive to the public health and travel concerns of our shareholders and the protocols that public health authorities and federal, state, and local governments may impose or recommend. The health and well-being of all of our various stakeholders is our top priority. | |
| IMPORTANT NOTICE REGARDING POTENTIAL CHANGES IN MEETING LOGISTICS (CONTINUED): | |
| In the event we determine it is not possible or advisable to hold our Annual Meeting as currently planned, we will announce alternative arrangements, which may include a change in location or holding the Annual Meeting solely by means of remote communication (i.e., a virtual-only meeting). We will announce any such change as promptly as practicable and the details on how to attend, participate in and vote at the Annual Meeting will be issued by press release, posted on our website and filed with the SEC as additional soliciting materials. | |
| If you plan to attend the Annual Meeting in person, please monitor our Investor Relations website at http://investor.spglobal.com/ and check the website in advance of the Annual Meeting for any updates. Please also retain your Annual Meeting shareholder communications for access details you will need in the event we decide to hold a virtual-only meeting. A virtual-only meeting will have no impact on your ability to provide your proxy prior to the Annual Meeting by using the Internet or telephone or by completing, signing, dating and mailing your proxy card, as explained in this Proxy Statement. | |
| Accountability | | | | Board Independence and Refreshment | | | | Compensation and Risk Management | |
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| Annual elections for directors. | | | | Independent Chairman of the Board. | | | | Equity Ownership Requirementsfor directors and executive officers. | |
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| Majority voting in uncontested director elections. | | | | All nominees except our CEO are independent. | | | | “Double trigger” vesting of equity-based awards upon a | |
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| Special meeting rights for shareholders holding 25% or more of the voting stock. | | | | Executive sessions of independent directors every Board meeting. | | | | Pay recovery policy or “clawback” applicable to executives and employees under Company policy and S&P Global Ratings policy. | |
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| Proxy access right for a shareholder or a group of up to 20 shareholders holding at least 3% of our outstanding shares for at least three years to nominate up to two directors or 20% of the Board, whichever is greater. | | | | Our Director nominees | | | | Anti-hedging and anti-pledging policy for directors and executive officers. | |
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| Annual performance evaluations of the Board, each Committee, the Chairman of the Board, each Committee Chair and each Director. | | | | Retirement age prevents directors from standing for re-election after reaching age 72. | | | | Risk oversightby the Board and Committees, including cybersecurity, technology, succession planning and human capital | |
| Offers strong leadership ✔ Setting Board and corporate culture by example ✔ Building consensus around the Company’s strategy ✔ Providing direction as to how the Board operates Facilitates independent oversight of management ✔ Chairing executive sessions of the Board’s independent Directors ✔ Setting the agenda for Board meetings in consultation with other Directors, the CEO and Corporate Secretary ✔ Serving as an informational resource for other Directors Promotes communication between management and our Board ✔ Meeting regularly with and providing counsel to the CEO, Chief Financial Officer, Chief People Officer, General Counsel and other senior executives ✔ Sharing feedback to Board members, the CEO and other senior executives | | | Leads Board consideration of key governance matters ✔ Overseeing the Board self-evaluation process, together with the Nominating and Corporate Governance Committee ✔ Overseeing Director succession planning, Board refreshment, composition and diversity, together with the Nominating and Corporate Governance Committee ✔ Overseeing CEO succession planning, performance evaluations and compensation decisions, together with the Compensation and Leadership Development Committee Engages with shareholders ✔ Leading the Annual Shareholder Meeting ✔ As needed, and where circumstances warrant, acting as spokesperson for the Board, including by engaging with shareholders who request direct communication with the Board | |
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| Employee Resource Groups We connect colleagues across our organization through nine, best in class, employee resource groups (ERGs). These global and employee-led networks offer career experiences and network-building opportunities that foster professional development and support workplace diversity. | | | | |
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| | | | Technology Training | | | | Career Coaching | | | | Leadership Development | | | | | | |
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| | | | | We launched an EssentialTECH initiative in 2017 and a Data Science Academy in early 2019 to enhance the technology skills and training of our workforce and accelerate our ability to solve complex problems using a multidisciplinary blend of data inference, algorithm development and technology education for all employees. | | | | We launched a career coaching program in 2019, offering customized support through global career coaches, to empower people to take ownership of their career and help them navigate their career path and opportunities to grow within S&P Global. | | | | We invest in developing leaders at all levels of our organization through targeted programs designed to foster leadership excellence in career managers, develop emerging leaders and strengthen our executive talent bench, providing a robust internal succession pipeline for our Operating Committee. | | | | | |
| | | Tracking Employee Satisfaction Our annual employee VIBE survey reflects a highly engaged work environment and employee alignment with our strategy and purpose. We achieved an 89% participation rate in the 2019 VIBE survey and employee responses designed to assess engagement were 80% favorable. To reinforce management accountability, we track employee survey scores in our enterprise and division balanced scorecards, with outcomes against survey targets impacting short-term incentive outcomes. | |
| | | | MARCO ALVERÀ, | |
| Independent Director Since: 2017 Board Committees: Nominating and Corporate Governance Other Current Listed Company Directorships: Snam, S.p.A. | | | Career Highlights Mr. Alverà, is the Chief Executive Officer of Snam S.p.A., Europe’s leading natural gas utility. He served as Chairman of the board of Snam Rete Gas until November 2017. Prior to joining Snam in 2016, Mr. Alverà held a number of senior management and operational leadership positions at Eni S.p.A., among them, Head of Eni’s commodities trading and shipping Other Professional Experience and Community Involvement Mr. Alverà sits on the board of the Cini Foundation in Venice. He is also a frequent speaker and lecturer on business, sustainability, and the energy transition. Mr. Alverà wrote the book “Generation H” (Mondadori) on hydrogen’s potential as a clean energy resource. | |
| 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 perspective gained through leadership positions in European companies doing business around the world, as well as his executive leadership, financeandstrategic planning experience acquired throughout his career in the energy industry. | |
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| Independent Director Since: 2019 Board Committees: Finance Other Current Listed Company Directorships: Avnet, Inc. | | | Career Highlights Mr. Amelio is the Chief Executive Officer of Avnet, Inc., a global leader of electronic components and services, and has served on Avnet’s board of directors since 2014. Prior to his appointment as CEO of Avnet, he served as Chief Executive Officer of CHC Group, a global helicopter services provider. Mr. Amelio also served as the President and Chief Executive Officer of Lenovo Group Limited. In addition, his experience includes a number of leadership roles in the global technology sector, including serving as senior vice president and president of Dell in Other Professional Experience and Community Involvement He is a co-founder and Chairman of Caring for Cambodia, a nonprofit organization that works to educate the children of Cambodia through building schools, training teachers and providing for basic human needs. Mr. Amelio holds a Master’s degree in management and is a Sloan Fellow of the Stanford Graduate School of Business. He earned a Bachelor’s degree in chemical engineering from Lehigh University. | |
| Skills and Qualifications We believe Mr. Amelio’s qualifications to sit on our Board of Directors include his extensive experience in various segments of the technology industry, his global perspective gained through leadership positions in Asia Pacific, as well as his executive leadership and operational experience developed while serving in leadership roles in the technology sector. | |
| | | | WILLIAM D. GREEN, | |
| Independent Director Since: 2011 Board Committees: Compensation and Leadership Development (Chair) Executive Nominating and Corporate Governance Other Current Listed Company Directorships: Dell Technologies, Inc. GTY Inovalon Holdings, | | | 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. Mr. Green was a Director of Accenture from 2001 through January 2013. Prior to serving as Chief Executive Officer, Mr. Green 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, Mr. Green 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. Mr. Green 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. He also served as a Director of Pivotal Software, Inc. until it was acquired by VMware Inc. in 2019. 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. Mr. Green 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 Compensation and Leadership Development Committee include his extensive executive leadership experience gained as the chief executive of a global professional services company providing a range of strategy, consulting, digital, technology and operations services and solutions and his deep understanding of the information technology industry and human capital | |
| | | | CHARLES E. HALDEMAN, JR., | |
| Independent Director Since: 2012 Board Committees: Executive (Chair) Nominating and Corporate Governance Other Current Listed Company Directorships: JBG Smith Properties | | | Career Highlights Mr. Haldeman, Jr., has been the Non-Executive Chairman of the Company since April 2015. He has served as Trustee of JBG Smith, the largest publicly traded real estate company focused on the Washington, D.C. market since July 2017. He was also the Non-Executive Chairman of KCG Holdings, Inc., an independent securities firm focused on market making and electronic trading, from November 2013 until the company’s acquisition by Virtu Financial in July 2017. He served on the board of DST Systems, Inc., a provider of processing and servicing solutions to the financial services and healthcare industries, from November 2014 until the company’s acquisition by SS&C Technologies Holdings, Inc. in April 2018. He is the former CEO of Freddie Mac, the publicly traded mortgage company. He joined Freddie Mac in 2009 and stepped down as Chief Executive in 2012. Before joining Freddie Mac, he was Chairman of Putnam Investment Management, LLC and served as President and CEO of Putnam Investments from 2003 through 2008. Prior to his tenure at Putnam, he was Chairman and CEO of Delaware Investments and earlier served as President and Chief Operating Officer of United Asset Management Corporation. He holds a Chartered Financial Analyst® (CFA®) designation. Other Professional Experience and Community Involvement Mr. Haldeman was Chairman of the Board of Trustees of Dartmouth College from 2007 through 2010, and served as a Trustee from 2004 through 2012. | |
| Skills and Qualifications We believe Mr. Haldeman’s qualifications to Chair our Board of Directors include his executive leadership experience gained through years of serving as a chief executive in the financial services industry, his corporate governance experience from prior board service, his financial expertise and background in investments and the capital markets industry, which provide our Board with insight into important areas in which the Company conducts business. | |
| | | | STEPHANIE C. HILL, | |
| Independent Director Since: 2017 Board Committees: Audit Compensation and Leadership Development Other Current Listed Company Directorships: None | | | Career Highlights Ms. Hill is the Other Professional Experience and Community Involvement Ms. Hill 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, heraudit and risk management and human capital management experience as well as her depth of operational experiencegained managing sizable and sensitive government projects of critical importance. Ms. Hill is a financial expert as defined in the rules of the SEC and the NYSE. | |
| | | | REBECCA JACOBY, | |
| Independent Director Since: 2014 Board Committees: Nominating and Corporate Governance Other Current Listed Company Directorships: | | | 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. Ms. Jacoby 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, Ms. Jacoby held a variety of leadership roles in operations, manufacturing and IT. Prior to joining Cisco, Ms. Jacoby 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. In December 2019, Ms. Jacoby joined the board of Quantum Corp. and serves on its Audit Committee and its Leadership and Compensation Committee. Ms. Jacoby served on the Board of Apptio, Inc. Other Professional Experience and Community Involvement Ms. Jacoby | |
| 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. | |
| | | | MONIQUE F. LEROUX, | |
| Independent Director Since:2016 Board Committees: Audit Compensation and Leadership Development Other Current Listed Company Directorships: Alimentation Couche-Tard Inc. BCE Inc. Compagnie Générale des Etablissements Michelin | | | Career Highlights Ms. Leroux Other Professional Experience and Community Involvement Companion of the Canadian Business Hall of Fame and the Investment Industry Hall of Fame, Ms. Leroux is a Member of the Order of Canada, and an Officer of the Ordre National du Qué | |
| Skills and Qualifications We believe Ms. Leroux’s qualifications to sit on our Board of Directors include her executive leadership experience in the financial services industry, particularly global perspective and international expertise and, together with her extensive financial and accounting expertise, experience managing complex organizations and her corporate governance experience from prior board service. Ms. Leroux is a financial expert as defined in the rules of the SEC and the NYSE. | |
| | | | MARIA R. MORRIS, | |
| Independent Director Since: 2016 Board Committees: Audit (Chair) Executive Other Current Listed Company Directorships: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, Ms. Morris 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, Ms. Morris 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, Ms. Morris 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). Ms. Morris also currently serves on the board of a privately-held insurance company. Other Professional Experience and Community Involvement In addition to her executive roles, Ms. Morris has served on the boards of MetLife Property and Casualty Insurance Company, the MetLife Foundation and the American Council of Life Insurers. Ms. Morris is presently the National Board Chair of the All Stars Project, Inc. and a Board trustee and committee co-chair of Catholic Charities of New York. | |
| 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,her risk management experience and global perspective gained by growing a multinational insurance company across more than 40 countries. Ms. Morris is a financial expert as defined in the rules of the SEC and the NYSE. | |
| | | | DOUGLAS L. PETERSON, | |
| President and Chief Executive Officer Director Since:2013 Board Committees: Executive Other Current Listed Company Directorships: None | | | Career Highlights Mr. Peterson was elected President and Chief Executive Officer of S&P Global, effective November 2013, and he joined the Company in September 2011 as President of Standard & Poor’s Ratings Services. Previously, Mr. Peterson was the Chief Operating Officer of Citibank, N.A., Citigroup’s principal banking entity that operates in more than 100 countries. Mr. Peterson was with Citigroup for 26 years, during which time he led diversified businesses in investment and corporate banking, brokerage, asset management, private equity and retail banking. His prior roles include CEO of Citigroup Japan, Chief Auditor of Citigroup, and Country Manager for Costa Rica and Uruguay. Other Professional Experience and Community Involvement Mr. Peterson is a Steward of the World Economic Forum’s (WEF) Shaping the Future of Long-Term Investing, Infrastructure and Development System Mr. Peterson received an MBA from the Wharton School at the University of Pennsylvania and an undergraduate degree in mathematics and history 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. | |
| | | | EDWARD B. RUST, JR., | |
| Independent Director Since:2001 Board Committees: Nominating and Corporate Governance (Chair) Compensation and Leadership Development Executive Other Current Listed Company Directorships: Caterpillar Inc. Helmerich & Payne Inc. | | | Career Highlights Mr. Rust is Chairman Emeritus of State Farm Mutual Automobile Insurance Company, the largest insurer of automobiles and homes in the United States. He was CEO of State Farm Mutual Automobile Insurance Company from 1985 to September 2015. He was a Director of the following State Farm affiliates from 2001 to 2014: State Farm Associates Funds Trust; State Farm Mutual Fund Trust; and State Farm Variable Product Trust. Other Professional Experience and Community Involvement Mr. Rust is a Trustee of The Conference Board and Illinois Wesleyan University. Additionally, he was formerly Chairman of the U.S. Chamber of Commerce, the American Enterprise Institute, the National Alliance of Business, the Insurance Institute for Highway Safety, the | |
| Skills and Qualifications We believe Mr. Rust’s qualifications to sit on our Board of Directors and Chair our Nominating and Corporate Governance Committee include his extensive executive leadership experience gained as the chief executive of a large mutual company in the financial services industry and his broad corporate governance experience from prior board service. | |
| | | | KURT L. SCHMOKE, | |
| Independent Director Since:2003 Board Committees: Compensation and Leadership Development Nominating and Corporate Governance Other Current Listed Company Directorships: | | | Career Highlights Mr. Schmoke was appointed President of the University of Baltimore in July 2014, after serving at Howard University for almost 12 years. During his tenure at Howard University, Mr. Schmoke served in several roles: Dean of Howard Law School (2003-2012); General Counsel (2012-2014); and Interim Provost (2013-2014). Prior to joining Howard, he was a partner at the Washington, D.C.-based law firm of Wilmer Cutler & Pickering from 2000 through 2002. Mr. Schmoke served three terms as the Mayor of Baltimore from 1987 until 1999. Mr. Schmoke served as the State’s Attorney for Baltimore City from 1982 until 1987. Mr. Schmoke served as a Director of Legg Mason, Inc. from January 2002 until July 2019. Other Professional Experience and Community Involvement Mr. Schmoke is Chair of the Board of Trustees of Howard Hughes Medical Institute, a private philanthropic group, and the Baltimore City Community College. He is also a member of the Council on Foreign Relations. Mr. Schmoke was named to President Jimmy Carter’s domestic policy staff in 1977. He was a Director of the Baltimore Life Companies and a Trustee of the Yale Corporation. | |
| Skills and Qualifications We believe Mr. Schmoke’s qualifications to sit on our Board of Directors include his leadership experience in managing large and complex educational institutions, which provides the Board with a diverse approach to management, as well as his public policy expertise acquired through his government service as an elected official. | |
| | | | RICHARD E. THORNBURGH, | |
| Independent Director Since:2011 Board Committees: Audit Executive Other Current Listed Company Directorships: | | | Career Highlights Mr. Thornburgh is the former 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. Mr. Thornburgh 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. Mr. Thornburgh is a Director of Repay Holdings Corporation, and serves on its Nominating and Corporate Governance Committee and its Technology Committee. Mr. Thornburgh served on the Board of Capstar Financial Holdings, Inc. from 2008 through 2019. Mr. Thornburgh was the Lead Director of NewStar Financial, Inc. until its sale in December 2017. Mr. Thornburgh serves as the Chairman of the Board of Jackson Hewitt, a privately held company. He was previously Vice Chairman of Corsair Capital LLC, a private equity firm focused on investing in the global financial services industry, and continues to serve as a member of Corsair’s Private Equity Funds’ Investment Committee. He was previously a Director of Reynolds American Inc., National City Corporation and Dollar General Corporation. 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 University of Cincinnati Investment Committee. | |
| Skills and Qualifications We believe Mr. Thornburgh’s qualifications to sit on our Board of Directors and Chair our | |
| | | | Audit | | | Compensation and Leadership Development | | | Executive | | | Financial Policy | | | Nominating and Corporate Governance | |
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| Marco Alverà | | | | | | | | | | | | | | | ||
| William D. Green | | | | | Chair | | | | | | | | | |||
| Charles E. Haldeman, Jr.★ | | | | | | | | Chair | | | | | | |||
| Stephanie C. Hill | | | | | | | | | | | | | | | ||
| Rebecca Jacoby | | | | | | | | | | | | | | | ||
| Monique F. Leroux | | | | | | | | | | | | | | | ||
| Maria R. Morris | | | Chair | | | | | | | | | | | | ||
| Douglas L. Peterson | | | | | | | | | | | | | | | | |
| Sir Michael Rake | | | | | | | | | | | | | | | ||
| Edward B. Rust, Jr. | | | | | | | | | | | | Chair | | |||
| Kurt L. Schmoke | | | | | | | | | | | | | | | ||
| Richard E. Thornburgh | | | | | | | | | | Chair | | | | | ||
| Number of 2018 Meetings | | | 10 | | | 8 | | | 0 | | | 6 | | | 7 | |
| | | | Audit | | | Compensation and Leadership Development | | | Executive | | | Finance | | | Nominating and Corporate Governance | |
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| Marco Alverà | | | | | | | | | | | | | | | ||
| William J. Amelio | | | | | | | | | | | | | | | ||
| William D. Green | | | | | | Chair | | | | | | | | | ||
| Charles E. Haldeman, Jr.★ | | | | | | | | | Chair | | | | | | ||
| Stephanie C. Hill | | | | | | | | | | | | | | | ||
| Rebecca Jacoby | | | | | | | | | | | | | | | ||
| Monique F. Leroux | | | | | | | | | | | | | | | ||
| Maria R. Morris | | | Chair | | | | | | | | | | | | ||
| Douglas L. Peterson | | | | | | | | | | | | | | | | |
| Sir Michael Rake | | | | | | | | | | | | | | | ||
| Edward B. Rust, Jr. | | | | | | | | | | | | | Chair | | ||
| Kurt L. Schmoke | | | | | | | | | | | | | | | ||
| Richard E. Thornburgh | | | | | | | | | | Chair | | | | | ||
| Number of 2019 Meetings | | | 10 | | | 8 | | | 0 | | | 6 | | | 7 | |
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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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| Executive | | | Position | |
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| Douglas L. Peterson | | | President and Chief Executive Officer (“CEO”) | |
| Ewout L. Steenbergen | | | EVP, Chief Financial Officer (“CFO”) | |
| John L. Berisford | | | President, S&P Global Ratings | |
| | | President, | | |
| Alexander J. Matturri(1) | | | Chief Executive Officer, S&P Dow Jones Indices | |
| | | Global: Strengthened our global focus and commitment to long-term growth opportunities across emerging markets in Asia by establishing the first wholly foreign-owned credit ratings agency in the Chinese domestic bond market and issuing our first ratings, while also expanding our data, analytics and benchmarking business in Asia. | | |
| | | Customer Orientation: Improved the customer experience by delivering innovative new ESG solutions across our business in response to increasing investor and market demand, deploying technology and innovation to deliver essential intelligence to customers faster and seeking and responding to on-the-ground customer feedback, including through the development by S&P Global Platts of a streamlined application for commodities information. | |
| | | Innovation: Drove marketplace innovation through the launch of several new products offering differentiated ESG solutions across our business, including S&P Global Ratings ESG Evaluations, the S&P 500® ESG Index, along with a global suite of ESG indices, and Trucost Climate Change Physical Risk Analytics, while also investing in future growth and innovation through the recent acquisition of the ESG ratings business of RobecoSAM. | | |
| | | Technology: Leveraged new capabilities in data science, artificial intelligence, machine learning and robotics, including through the deployment of innovative new technology developed by Kensho Technologies, a strategic acquisition completed in 2018, to improve how we process and deliver data, increase organizational efficiencies and enhance the customer experience across our business. | | |
| | | Operational Excellence: Enhanced operational excellence by unifying our people behind our long-term enterprise strategy and achieving greater operational efficiency through cross-organizational collaboration and deployment of technology to advance productivity and automation projects, including use of Kensho Scribe speech recognition technology to transcribe earnings conference calls and improvements to data ingestion, linking and processing. | | |
| | | People: Fostered a people-first diverse and inclusive culture by implementing new practices and programs to modernize the workplace and launching new talent and career development resources, including coaching, training and internal mobility programs, to invest in our employees. | |
| Alignment with Shareholders (What We Do) | | ||||||||||||
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| COMPENSATION PRACTICE | | | | COMPANY POLICY | | | | MORE DETAIL | | ||||
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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. | | | | | |
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| ✔ | | | | Robust Stock Ownership Guidelines | | | | We have meaningful stock ownership guidelines for our Directors and executive officers. The executive guidelines also require 100% retention until the guidelines are met and a six-month holding policy for stock options after exercise. | | | | | |
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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. | | | | | |
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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. | | | | | |
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| ✔ | | | | Clawback Policy | | | | Our clawback policy gives us the right to recoup and cancel cash incentive and long-term incentive award payments received by covered active and former employees under various circumstances, including misconduct and financial restatements. | | | | Pg. | |
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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. | | | | Pg. | |
| Sound Governance Practices (What We Don’t Do) | | ||||||||||||
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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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| | | | | | | 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. | | | | | |
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| | | | | | | We do not pay dividends on unearned PSUs or RSUs. | | | | | |||
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| | | | | | | None of our NEOs has a formal employment contract. | | | | | |||
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| | | | | | | We froze both our defined benefit pension plans to new participants and future accruals, effective as of April 1, 2012. | | | | |
| 2019 Proxy Peer Group | | | | Revenue ($ billions) | | | | Market Cap. ($ billions) | | ||||||
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| 25th Percentile | | | | | $ | 4.87 | | | | | | $ | 17.56 | | |
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| Median | | | | | $ | 6.09 | | | | | | $ | 28.47 | | |
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| 75th percentile | | | | | $ | 10.33 | | | | | | $ | 61.09 | | |
| S&P Global | | | | | $ | 6.70 | | | | | | $ | 66.73 | | |
| 2018 Proxy Peer Group | | | | Revenue ($ billions) | | | | Market Cap. ($ billions) | | ||||||
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| 25th Percentile | | | | | $ | 4.44 | | | | | | $ | 15.19 | | |
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| Median | | | | | $ | 5.82 | | | | | | $ | 23.94 | | |
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| 75th percentile | | | | | $ | 8.42 | | | | | | $ | 40.17 | | |
| S&P Global | | | | | $ | 6.26 | | | | | | $ | 42.64 | | |
| Executive | | | | Annualized 2018 Base Salary | | | | Actual 2018 Incentive Payment | | | | Actual 2018 Long-Term Incentive Grants at Target | | | | Total 2018 Annual Compensation | | Executive | | | | Annualized 2019 Base Salary | | | | Actual 2019 Incentive Payment | | | | Actual 2019 Long-Term Incentive Grants at Target | | | | Total 2019 Annual Compensation | | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| RSUs | | | | PSUs | | | | Long-Term Cash | | | | RSUs | | | | PSUs | | | | Long-Term Cash | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| D. Peterson (1) | | | | | $ | 1,000,000 | | | | | | $ | 2,047,000 | | | | | | $ | 4,046,000 | | | | | | $ | 4,774,000 | | | | | | $ | — | | | | | | $ | 11,867,000 | | | D. Peterson | | | | | $ | 1,000,000 | | | | | | $ | 2,783,000 | | | | | | $ | 2,400,000 | | | | | | $ | 5,600,000 | | | | | | $ | — | | | | | | $ | 11,783,000 | | | |
| E. Steenbergen | | | | | $ | 825,000 | | | | | | $ | 975,000 | | | | | | $ | 682,500 | | | | | | $ | 1,592,500 | | | | | | $ | — | | | | | | $ | 4,075,000 | | | E. Steenbergen | | | | | $ | 825,000 | | | | | | $ | 1,350,000 | | | | | | $ | 750,000 | | | | | | $ | 1,750,000 | | | | | | $ | — | | | | | | $ | 4,675,000 | | | |
| J. Berisford | | | | | $ | 625,000 | | | | | | $ | 541,500 | | | | | | $ | 450,000 | | | | | | $ | 1,050,000 | | | | | | $ | — | | | | | | $ | 2,666,500 | | | J. Berisford | | | | | $ | 625,000 | | | | | | $ | 1,110,000 | | | | | | $ | 450,000 | | | | | | $ | 1,050,000 | | | | | | $ | — | | | | | | $ | 3,235,000 | | | |
| M. Chinn (2) | | | | | $ | 625,000 | | | | | | $ | 718,500 | | | | | | $ | 450,000 | | | | | | $ | 1,050,000 | | | | | | $ | — | | | | | | $ | 2,843,500 | | | M. Cheung | | | | | $ | 550,000 | | | | | | $ | 910,000 | | | | | | $ | 337,500 | | | | | | $ | 787,500 | | | | | | $ | — | | | | | | $ | 2,585,000 | | | |
| A. Matturri | | | | | $ | 625,000 | | | | | | $ | 1,084,000 | | | | | | $ | 138,000 | | | | | | $ | 322,000 | | | | | | $ | 690,000 | | | | | | $ | 2,859,000 | | | A. Matturri (1) | | | | | $ | 625,000 | | | | | | $ | 980,000 | | | | | | $ | 168,000 | | | | | | $ | 392,000 | | | | | | $ | 840,000 | | | | | | $ | 3,005,000 | | |
| Executive | | | | 2018 Base Salary | | | | 2019 Base Salary | | | | % Change | | Executive | | | | 2019 Base Salary | | | | 2020 Base Salary | | | | % Change | | | |||||||||||||||||
| D. Peterson | | | | | $ | 1,000,000 | | | | | | $ | 1,000,000 | | | | | | | 0% | | | D. Peterson | | | | | $ | 1,000,000 | | | | | | $ | 1,000,000 | | | | | | | —% | | | |
| E. Steenbergen | | | | | $ | 825,000 | | | | | | $ | 825,000 | | | | | | | 0% | | | E. Steenbergen | | | | | $ | 825,000 | | | | | | $ | 825,000 | | | | | | | —% | | | |
| J. Berisford | | | | | $ | 625,000 | | | | | | $ | 625,000 | | | | | | | 0% | | | J. Berisford | | | | | $ | 625,000 | | | | | | $ | 650,000 | | | | | | | 4% | | | |
| M. Chinn (1) | | | | | $ | 625,000 | | | | | | $ | 625,000 | | | | | | | 0% | | | M. Cheung | | | | | $ | 550,000 | | | | | | $ | 625,000 | | | | | | | 14% | | | |
| A. Matturri | | | | | $ | 625,000 | | | | | | $ | 625,000 | | | | | | | 0% | | | A. Matturri (1) | | | | | $ | 625,000 | | | | | | $ | 625,000(2) | | | | | | | —% | | |
| Executive | | | | 2018 | | | | 2019 | | Executive | | | | 2019 | | | | 2020 | | ||||||||||||||||||||||||||||||||||||||||
| Target Incentive Award | | | | Actual Incentive Award | | | | % of Target Paid | | | | Target Incentive Award | | | Target Incentive Award | | | | Actual Incentive Award | | | | % of Target Paid | | | | Target Incentive Award | | |||||||||||||||||||||||||||||||
| D. Peterson | | | | | $ | 2,300,000 | | | | | | $ | 2,047,000 | | | | | | | 89% | | | | | | $ | 2,300,000 | | | D. Peterson | | | | | $ | 2,300,000 | | | | | | $ | 2,783,000 | | | | | | | 121% | | | | | | $ | 3,250,000 | | | |
| E. Steenbergen | | | | | $ | 1,150,000 | | | | | | $ | 975,000 | | | | | | | 85% | | | | | | $ | 1,150,000 | | | E. Steenbergen | | | | | $ | 1,150,000 | | | | | | $ | 1,350,000 | | | | | | | 117% | | | | | | $ | 1,150,000 | | | |
| J. Berisford | | | | | $ | 900,000 | | | | | | $ | 541,500 | | | | | | | 60% | | | | | | $ | 900,000 | | | J. Berisford | | | | | $ | 900,000 | | | | | | $ | 1,110,000 | | | | | | | 123% | | | | | | $ | 1,000,000 | | | |
| M. Chinn (1) | | | | | $ | 900,000 | | | | | | $ | 718,500 | | | | | | | 80% | | | | | | | — | | | M. Cheung | | | | | $ | 750,000 | | | | | | $ | 910,000 | | | | | | | 121% | | | | | | $ | 1,000,000 | | | |
| A. Matturri | | | | | $ | 875,000 | | | | | | $ | 1,084,000 | | | | | | | 124% | | | | | | $ | 925,000 | | | A. Matturri (1) | | | | | $ | 925,000 | | | | | | $ | 980,000 | | | | | | | 106% | | | | | | $ | 925,000(2) | | |
| Executive | | | | 2019 Long-Term Incentive Target | | | | 2020 Long-Term Incentive Target | | ||||||
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| D. Peterson | | | | | $ | 8,000,000 | | | | | | $ | 9,000,000 | | |
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| E. Steenbergen | | | | | $ | 2,500,000 | | | | | | $ | 2,750,000 | | |
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| J. Berisford | | | | | $ | 1,500,000 | | | | | | $ | 1,800,000 | | |
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| M. Cheung | | | | | $ | 1,125,000 | | | | | | $ | 1,750,000 | | |
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| A. Matturri (1) | | | | | $ | 1,400,000 | | | | | | $ | 1,400,000(2) | | |
| Executive | | | | 2018 Long-Term Incentive Target | | | | 2019 Long-Term Incentive Target | | ||||||
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| D. Peterson (1) | | | | | $ | 6,820,000 | | | | | | $ | 8,000,000 | | |
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| E. Steenbergen | | | | | $ | 2,275,000 | | | | | | $ | 2,500,000 | | |
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| J. Berisford | | | | | $ | 1,500,000 | | | | | | $ | 1,500,000 | | |
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| M. Chinn (2) | | | | | $ | 1,500,000 | | | | | | | — | | |
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| A. Matturri | | | | | $ | 1,150,000 | | | | | | $ | 1,400,000 | | |
| 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 years’ payments. | |
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| RSU Awards | | | | • Double-trigger treatment: | |
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| PSU Awards | | | | • Double-trigger • 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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| Stock Options | | | | • Double-trigger | |
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| Long-Term Cash Awards | | | | • 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. | |
| SHARES THAT COUNT | | | | SHARES THAT DO NOT COUNT | |
| • 100% of the shares directly owned • 50% of outstanding vested and unvested RSUs • 50% of unvested restricted shares • 50% of PSUs for which attainment of the performance criteria has already been determined | | | | • Unexercised options (whether or not vested) • PSUs for which the performance cycle is ongoing | |
| 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 ($) | | | | Bonus ($) | | | | Stock Awards ($) (1) | | | | Option Awards ($) | | | | Non-Equity Incentive Plan Compensation ($) (2) | | | | Change in Pension Value ($) (3) | | | | All Other Compensation ($) (4) | | | | Total ($) | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | Douglas L. Peterson President and Chief Executive Officer | | | | | | 2019 | | | | | | $ | 1,000,000 | | | | | | | — | | | | | | $ | 8,000,000 | | | | | | | — | | | | | | $ | 2,783,000 | | | | | | | — | | | | | | $ | 369,512 | | | | | | $ | 12,152,512 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Douglas L. Peterson President and Chief Executive Officer | | | | | | 2018 | | | | | | $ | 1,000,000 | | | | | | | — | | | | | | $ | 8,820,000 | | | | | | | — | | | | | | $ | 2,047,000 | | | | | | | — | | | | | | $ | 493,845 | | | | | | $ | 12,360,845 | | | | | | 2018 | | | | | | $ | 1,000,000 | | | | | | | — | | | | | | $ | 8,820,000 | | | | | | | — | | | | | | $ | 2,047,000 | | | | | | | — | | | | | | $ | 493,845 | | | | | | $ | 12,360,845 | | | |||
| | | 2017 | | | | | | $ | 1,000,000 | | | | | | | — | | | | | | $ | 6,000,000 | | | | | | | — | | | | | | $ | 3,240,000 | | | | | | | — | | | | | | $ | 479,216 | | | | | | $ | 10,719,216 | | | | | | 2017 | | | | | | $ | 1,000,000 | | | | | | | — | | | | | | $ | 6,000,000 | | | | | | | — | | | | | | $ | 3,240,000 | | | | | | | — | | | | | | $ | 479,216 | | | | | | $ | 10,719,216 | | | |||||||
| | | 2016 | | | | | | $ | 1,000,000 | | | | | | | — | | | | | | $ | 4,800,000 | | | | | | | — | | | | | | $ | 2,890,000 | | | | | | | — | | | | | | $ | 355,769 | | | | | | $ | 9,045,769 | | | Ewout L. Steenbergen EVP, Chief Financial Officer | | | | | | 2019 | | | | | | $ | 825,000 | | | | | | | — | | | | | | $ | 2,500,000 | | | | | | | — | | | | | | $ | 1,350,000 | | | | | | | — | | | | | | $ | 222,492 | | | | | | $ | 4,897,492 | | | ||||
| Ewout L. Steenbergen EVP, Chief Financial Officer | | | | | | 2018 | | | | | | $ | 806,250 | | | | | | | — | | | | | | $ | 2,275,000 | | | | | | | — | | | | | | $ | 975,000 | | | | | | | — | | | | | | $ | 311,098 | | | | | | $ | 4,367,348 | | | | | | 2018 | | | | | | $ | 806,250 | | | | | | | — | | | | | | $ | 2,275,000 | | | | | | | — | | | | | | $ | 975,000 | | | | | | | — | | | | | | $ | 311,098 | | | | | | $ | 4,367,348 | | | |||
| | | 2017 | | | | | | $ | 750,000 | | | | | | | — | | | | | | $ | 1,800,000 | | | | | | | — | | | | | | $ | 1,950,000 | | | | | | | — | | | | | | $ | 63,041 | | | | | | $ | 4,563,041 | | | | | | 2017 | | | | | | $ | 750,000 | | | | | | | — | | | | | | $ | 1,800,000 | | | | | | | — | | | | | | $ | 1,950,000 | | | | | | | — | | | | | | $ | 63,041 | | | | | | $ | 4,563,041 | | | |||||||
| | | 2016 | | | | | | $ | 99,432 | | | | | | $ | 1,500,000 | | | | | | $ | 4,250,000 | | | | | | | — | | | | | | $ | 0 | | | | | | | — | | | | | | $ | 2,100 | | | | | | $ | 5,851,532 | | | John L. Berisford President, S&P Global Ratings | | | | | | 2019 | | | | | | $ | 625,000 | | | | | | | — | | | | | | $ | 1,500,000 | | | | | | | — | | | | | | $ | 1,110,000 | | | | | | $ | 9,121 | | | | | | $ | 169,844 | | | | | | $ | 3,413,965 | | | ||||
| John L. Berisford President, S&P Global Ratings | | | | | | 2018 | | | | | | $ | 618,750 | | | | | | | — | | | | | | $ | 1,500,000 | | | | | | | — | | | | | | $ | 541,500 | | | | | | $ | 0 | | | | | | $ | 240,466 | | | | | | $ | 2,900,716 | | | | | | 2018 | | | | | | $ | 618,750 | | | | | | | — | | | | | | $ | 1,500,000 | | | | | | | — | | | | | | $ | 541,500 | | | | | | $ | 0 | | | | | | $ | 240,466 | | | | | | $ | 2,900,716 | | | |||
| | | 2017 | | | | | | $ | 600,000 | | | | | | | — | | | | | | $ | 1,300,000 | | | | | | | — | | | | | | $ | 1,300,000 | | | | | | $ | 4,833 | | | | | | $ | 180,138 | | | | | | $ | 3,384,971 | | | | | | 2017 | | | | | | $ | 600,000 | | | | | | | — | | | | | | $ | 1,300,000 | | | | | | | — | | | | | | $ | 1,300,000 | | | | | | $ | 4,833 | | | | | | $ | 180,138 | | | | | | $ | 3,384,971 | | | |||||||
| | | 2016 | | | | | | $ | 600,000 | | | | | | | — | | | | | | $ | 1,000,000 | | | | | | | — | | | | | | $ | 830,000 | | | | | | $ | 3,325 | | | | | | $ | 129,093 | | | | | | $ | 2,562,418 | | | Martina Cheung President, S&P Global Market Intelligence | | | | | | 2019 | | | | | | $ | 549,527 | | | | | | | — | | | | | | $ | 1,125,000 | | | | | | | — | | | | | | $ | 910,000 | | | | | | $ | 10,816 | | | | | | $ | 103,720 | | | | | | $ | 2,699,063 | | | ||||
| Michael A. Chinn President, S&P Global Market Intelligence and EVP, Data and Technology Innovation, S&P Global | | | | | | 2018 | | | | | | $ | 606,250 | | | | | | | — | | | | | | $ | 1,500,000 | | | | | | | — | | | | | | $ | 718,500 | | | | | | | — | | | | | | $ | 217,098 | | | | | | $ | 3,041,848 | | | Alex J. Matturri Chief Executive Officer, S&P Dow Jones Indices | | | | | | 2019 | | | | | | $ | 625,000 | | | | | | | — | | | | | | $ | 560,000 | | | | | | | — | | | | | | $ | 2,180,000 | | | | | | $ | 61,754 | | | | | | $ | 188,102 | | | | | | $ | 3,614,856 | | |
| | | 2017 | | | | | | $ | 537,500 | | | | | | | — | | | | | | $ | 1,050,000 | | | | | | | — | | | | | | $ | 1,300,000 | | | | | | | — | | | | | | $ | 100,945 | | | | | | $ | 2,988,445 | | | | | | 2018 | | | | | | $ | 606,250 | | | | | | | — | | | | | | $ | 460,000 | | | | | | | — | | | | | | $ | 2,044,000 | | | | | | $ | 0 | | | | | | $ | 197,523 | | | | | | $ | 3,307,773 | | | |||||||
| | | 2016 | | | | | | $ | 505,769 | | | | | | | — | | | | | | $ | 750,000 | | | | | | | — | | | | | | $ | 750,000 | | | | | | | — | | | | | | $ | 3,000 | | | | | | $ | 2,008,769 | | | | | | 2017 | | | | | | $ | 537,500 | | | | | | | — | | | | | | $ | 400,000 | | | | | | | — | | | | | | $ | 1,788,000 | | | | | | $ | 36,080 | | | | | | $ | 151,657 | | | | | | $ | 2,913,237 | | | |||||||
| Alex J. Matturri Chief Executive Officer, S&P Dow Jones Indices | | | | | | 2018 | | | | | | $ | 606,250 | | | | | | | — | | | | | | $ | 460,000 | | | | | | | — | | | | | | $ | 2,044,000 | | | | | | $ | 0 | | | | | | $ | 197,523 | | | | | | $ | 3,307,773 | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 2017 | | | | | | $ | 537,500 | | | | | | | — | | | | | | $ | 400,000 | | | | | | | — | | | | | | $ | 1,788,000 | | | | | | $ | 36,080 | | | | | | $ | 151,657 | | | | | | $ | 2,913,237 | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 2016 | | | | | | $ | 493,750 | | | | | | | — | | | | | | $ | 320,000 | | | | | | | — | | | | | | $ | 1,958,000 | | | | | | $ | 85,527 | | | | | | $ | 131,176 | | | | | | $ | 2,988,453 | | |
| Executive | | | | 2018 | | | | 2017 | | Executive | | | | 2019 | | | | 2018 | | | |||||||||||
| D. Peterson | | | | | $ | 9,548,000 | | | | | | $ | 8,400,000 | | | D. Peterson | | | | | $ | 11,200,000 | | | | | | $ | 9,548,000 | | | |
| E. Steenbergen | | | | | $ | 3,185,000 | | | | | | $ | 2,520,000 | | | E. Steenbergen | | | | | $ | 3,500,000 | | | | | | $ | 3,185,000 | | | |
| J. Berisford | | | | | $ | 2,100,000 | | | | | | $ | 1,820,000 | | | J. Berisford | | | | | $ | 2,100,000 | | | | | | $ | 2,100,000 | | | |
| M. Chinn | | | | | $ | 2,100,000 | | | | | | $ | 1,470,000 | | | M. Cheung | | | | | $ | 1,575,000 | | | | | | | N/A | | | |
| A. Matturri | | | | | $ | 644,000 | | | | | | $ | 560,000 | | | A. Matturri | | | | | $ | 784,000 | | | | | | $ | 644,000 | | |
| Name | | | | 401(k) Savings and Profit Sharing Plan ($) | | | | 401(k) Savings and Profit Sharing Plan Supplement ($) | | Name | | | | 401(k) Savings and Profit Sharing Plan ($) | | | | 401(k) Savings and Profit Sharing Plan Supplement ($) | | | |||||||||||
| D. Peterson | | | | | $ | 27,040 | | | | | | $ | 436,150 | | | D. Peterson | | | | | $ | 27,478 | | | | | | $ | 304,370 | | | |
| E. Steenbergen | | | | | $ | 27,040 | | | | | | $ | 272,938 | | | E. Steenbergen | | | | | $ | 27,478 | | | | | | $ | 167,200 | | | |
| J. Berisford | | | | | $ | 27,040 | | | | | | $ | 180,813 | | | J. Berisford | | | | | $ | 27,478 | | | | | | $ | 97,515 | | | |
| M. Chinn | | | | | $ | 27,040 | | | | | | $ | 179,438 | | | M. Cheung | | | | | $ | 27,478 | | | | | | $ | 64,078 | | | |
| A. Matturri | | | | | $ | 27,040 | | | | | | $ | 168,438 | | | A. Matturri | | | | | $ | 27,478 | | | | | | $ | 157,190 | | |
| 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) | | | | 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) | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Target ($) | | | | Maximum ($) | | | | Target (#) | | | | Maximum (#) | | | | Target ($) | | | | Maximum ($) | | | | Target (#) | | | | Maximum (#) | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| D. Peterson | | | | | | 4/2/2018 | | | | | | | 2/27/2018 | | | | | | $ | 2,300,000 | | | | | | $ | 4,600,000 | | | | | | | 25,580 | | | | | | | 51,160 | | | | | | | | | | | | | | | | | | | | | $ | 4,774,000 | | | D. Peterson | | | | | | 4/1/2019 | | | | | | | 2/26/2019 | | | | | | $ | 2,300,000 | | | | | | $ | 4,600,000 | | | | | | | 26,303 | | | | | | | 52,606 | | | | | | | | | | | | | | | | | | | | | $ | 5,600,000 | | |
| | | 4/2/2018 | | | | | | | 2/27/2018 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 10,963 | | | | | | | | | | | | | | $ | 2,046,000 | | | | | | 4/1/2019 | | | | | | | 2/26/2019 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 11,273 | | | | | | | | | | | | | | $ | 2,400,000 | | | |||||||
| | | 4/2/2018 | | | | | | | 2/27/2018 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 10,716 | | | | | | | | | | | | | | $ | 2,000,000(5) | | | E. Steenbergen | | | | | | 4/1/2019 | | | | | | | 2/26/2019 | | | | | | $ | 1,150,000 | | | | | | $ | 2,300,000 | | | | | | | 8,220 | | | | | | | 16,440 | | | | | | | | | | | | | | | | | | | | | $ | 1,750,000 | | | ||||
| E. Steenbergen | | | | | | 4/2/2018 | | | | | | | 2/27/2018 | | | | | | $ | 1,150,000 | | | | | | $ | 2,300,000 | | | | | | | 8,533 | | | | | | | 17,066 | | | | | | | | | | | | | | | | | | | | | $ | 1,592,500 | | | | | | 4/1/2019 | | | | | | | 2/26/2019 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 3,523 | | | | | | | | | | | | | | $ | 750,000 | | | |||
| | | 4/2/2018 | | | | | | | 2/27/2018 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 3,657 | | | | | | | | | | | | | | $ | 682,500 | | | J. Berisford | | | | | | 4/1/2019 | | | | | | | 2/26/2019 | | | | | | $ | 900,000 | | | | | | $ | 1,800,000 | | | | | | | 4,932 | | | | | | | 9,864 | | | | | | | | | | | | | | | | | | | | | $ | 1,050,000 | | | ||||
| J. Berisford | | | | | | 4/2/2018 | | | | | | | 2/27/2018 | | | | | | $ | 900,000 | | | | | | $ | 1,800,000 | | | | | | | 5,626 | | | | | | | 11,252 | | | | | | | | | | | | | | | | | | | | | $ | 1,050,000 | | | | | | 4/1/2019 | | | | | | | 2/26/2019 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 2,114 | | | | | | | | | | | | | | $ | 450,000 | | | |||
| | | 4/2/2018 | | | | | | | 2/27/2018 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 2,411 | | | | | | | | | | | | | | $ | 450,000 | | | M. Cheung | | | | | | 4/1/2019 | | | | | | | 2/26/2019 | | | | | | $ | 750,000 | | | | | | $ | 1,500,000 | | | | | | | 3,699 | | | | | | | 7,398 | | | | | | | | | | | | | | | | | | | | | $ | 787,500 | | | ||||
| M. Chinn | | | | | | 4/2/2018 | | | | | | | 2/27/2018 | | | | | | $ | 900,000 | | | | | | $ | 1,800,000 | | | | | | | 5,626 | | | | | | | 11,252 | | | | | | | | | | | | | | | | | | | | | $ | 1,050,000 | | | | | | 4/1/2019 | | | | | | | 2/26/2019 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 1,585 | | | | | | | | | | | | | | $ | 337,500 | | | |||
| | | 4/2/2018 | | | | | | | 2/27/2018 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 2,411 | | | | | | | | | | | | | | $ | 450,000 | | | A. Matturri | | | | | | 4/1/2019 | | | | | | | 2/26/2019 | | | | | | $ | 925,000 | | | | | | $ | 1,850,000 | | | | | | | 1,841 | | | | | | | 3,682 | | | | | | | | | | | | | | | | | | | | | $ | 392,000 | | | ||||
| A. Matturri | | | | | | 4/2/2018 | | | | | | | 2/27/2018 | | | | | | $ | 875,000 | | | | | | $ | 1,750,000 | | | | | | | 1,725 | | | | | | | 3,450 | | | | | | | | | | | | | | | | | | | | | $ | 322,000 | | | | | | 4/1/2019 | | | | | | | 2/26/2019 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 789 | | | | | | | | | | | | | | $ | 168,000 | | | |||
| | | 4/2/2018 | | | | | | | 2/27/2018 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 739 | | | | | | | | | | | | | | $ | 138,000 | | | | | | 4/1/2019 | | | | | | | 2/26/2019 | | | | | | $ | 840,000 | | | | | | $ | 1,680,000 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |||||||
| | | 4/2/2018 | | | | | | | 2/27/2018 | | | | | | $ | 690,000 | | | | | | $ | 1,380,000 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Name | | | | Option Awards | | | | Stock Awards | | Name | | | | Option Awards | | | | 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 ($) (2) | | | Number of Securities Underlying Unexercised Options Exercisable (#) | | | | Number of Securities Underlying Unexercised Options Unexercisable (#) | | | | Option Exercise Price ($) | | | | 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) | | |||||||||||||||||||||||||||||||||||||||||||||||||
| D. Peterson | | | | | | 51,304 | | | | | | | | | | $ | 77.81 | | | | | | | 3/31/2024 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | D. Peterson | | | | | | 51,304 | | | | | | | | | | $ | 77.81 | | | | | | | 3/31/2024 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | 22,793 | | | | | | $ | 3,873,442 | | | | | | | 116,100 | | | | | | $ | 19,730,034 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 21,996 | | | | | | $ | 6,006,008 | | | | | | | 103,766 | | | | | | $ | 28,333,306 | | | |||||||
| E. Steenbergen | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 10,449 | | | | | | $ | 1,775,703 | | | | | | | 36,548 | | | | | | $ | 6,210,967 | | | E. Steenbergen | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 3,603 | | | | | | $ | 983,799 | | | | | | | 33,506 | | | | | | $ | 9,148,813 | | |
| J. Berisford | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 2,640 | | | | | | $ | 448,642 | | | | | | | 25,322 | | | | | | $ | 4,303,221 | | | J. Berisford | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 2,235 | | | | | | $ | 610,267 | | | | | | | 21,116 | | | | | | $ | 5,765,724 | | |
| M. Chinn | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 2,442 | | | | | | $ | 414,993 | | | | | | | 22,618 | | | | | | $ | 3,843,703 | | | M. Cheung | | | | | | 1,255 | | | | | | | | | | $ | 51.55 | | | | | | | 3/31/2023 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| A. Matturri | | | | | | 5,372 | | | | | | | | | | $ | 21.95 | | | | | | | 3/31/2019 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 1,539 | | | | | | | | | | $ | 77.81 | | | | | | | 3/31/2024 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |||
| | | 2,014 | | | | | | | | | | $ | 24.23 | | | | | | | 9/30/2019 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 671 | | | | | | | | | | $ | 74.07 | | | | | | | 4/30/2024 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |||||||
| | | 5,104 | | | �� | | | | | | | $ | 33.98 | | | | | | | 3/31/2020 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 1,281 | | | | | | $ | 349,777 | | | | | | | 10,398 | | | | | | $ | 2,839,174 | | | |||||||
| | | 5,560 | | | | | | | | | | $ | 37.41 | | | | | | | 3/31/2021 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | A. Matturri | | | | | | 5,560 | | | | | | | | | | $ | 37.41 | | | | | | | 3/31/2021 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||
| | | | | | | | | | | | | | | | | | | | | | | | | | | | 811 | | | | | | $ | 137,821 | | | | | | | 7,778 | | | | | | $ | 1,321,793 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 780 | | | | | | $ | 212,979 | | | | | | | 7,132 | | | | | | $ | 1,947,393 | | |
| 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 | | | | | | — | | | | | | | — | | | | | | | 82,602 | | | | | | $ | 15,926,445 | | | D. Peterson | | | | | | — | | | | | | | — | | | | | | | 64,022 | | | | | | $ | 17,849,547 | | |
| E. Steenbergen | | | | | | — | | | | | | | — | | | | | | | 39,421 | | | | | | $ | 7,742,149 | | | E. Steenbergen | | | | | | — | | | | | | | — | | | | | | | 25,955 | | | | | | $ | 7,142,133 | | |
| J. Berisford | | | | | | 3,707 | | | | | | $ | 423,878 | | | | | | | 17,289 | | | | | | $ | 3,331,563 | | | J. Berisford | | | | | | — | | | | | | | — | | | | | | | 13,775 | | | | | | $ | 3,841,069 | | |
| M. Chinn | | | | | | — | | | | | | | — | | | | | | | 13,224 | | | | | | $ | 2,542,436 | | | M. Cheung | | | | | | — | | | | | | | — | | | | | | | 3,098 | | | | | | $ | 861,203 | | |
| A. Matturri | | | | | | — | | | | | | | — | | | | | | | 5,510 | | | | | | $ | 1,062,333 | | | A. Matturri | | | | | | 12,490 | | | | | | $ | 2,559,540 | | | | | | | 4,282 | | | | | | $ | 1,193,858 | | |
| 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 | | | | | | $ | 26,809 | | | ||||
| J. Berisford | | | | ERP | | | | | | 0 | | | | | | $ | 21,650 | | | | ERPS | | | | | | 0 | | | | | | $ | 19,402 | | | |||
| ERPS | | | | | | 0 | | | | | | $ | 15,440 | | | | Total | | | | | | | | | | | | $ | 46,211 | | | |||||||
| Total | | | | | | | | | | | | $ | 37,090 | | | M. Cheung | | | | ERP | | | | | | 1 | | | | | | $ | 27,600 | | | ||||
| M. Chinn | | | | ERP | | | | | | — | | | | | | | — | | | | ERPS | | | | | | 1 | | | | | | $ | 0 | | | |||
| ERPS | | | | | | — | | | | | | | — | | | | Total | | | | | | | | | | | | $ | 27,600 | | | |||||||
| Total | | | | | | | | | | | | | — | | | A. Matturri | | | | ERP | | | | | | 4 | | | | | | $ | 171,133 | | | ||||
| A. Matturri | | | | ERP | | | | | | 4 | | | | | | $ | 147,498 | | | | ERPS | | | | | | 4 | | | | | | $ | 261,151 | | | |||
| ERPS | | | | | | 4 | | | | | | $ | 223,032 | | | | Total | | | | | | | | | | | | $ | 432,284 | | | |||||||
| Total | | | | | | | | | | | | $ | 370,530 | | |
| 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 ($) | | | | Aggregate Balance at Last Fiscal Year End ($) (4) | | ||||||||||||||||||||||||||||||
| | D. Peterson | | | | SIPS & ERAPS | | | | | $ | 553,400 | | | | | | $ | 304,370 | | | | | | $ | 86,742 | | | | | | | — | | | | | | $ | 3,727,381 | | | ||||||||||||||||||||||||||||||||||||||||
| D. Peterson | | | | SIPS & ERAPS | | | | | $ | 237,900 | | | | | | $ | 436,150 | | | | | | $ | 58,579 | | | | | | | — | | | | | | $ | 2,782,869 | | | | ST Incentive Deferred Comp | | | | | | — | | | | | | | — | | | | | | $ | 23,525 | | | | | | | — | | | | | | $ | 614,534 | | | |||
| ST Incentive Deferred Comp | | | | | | — | | | | | | | — | | | | | | $ | 18,104 | | | | | | | — | | | | | | $ | 591,009 | | | | Total | | | | | $ | 553,400 | | | | | | $ | 304,370 | | | | | | $ | 110,267 | | | | | | | — | | | | | | $ | 4,341,915 | | | |||||||
| Total | | | | | $ | 237,900 | | | | | | $ | 436,150 | | | | | | $ | 76,683 | | | | | | | — | | | | | | $ | 3,373,878 | | | E. Steenbergen | | | | SIPS & ERAPS | | | | | $ | 91,200 | | | | | | $ | 167,200 | | | | | | $ | 15,337 | | | | | | | — | | | | | | $ | 760,088 | | | ||||
| E. Steenbergen | | | | SIPS & ERAPS | | | | | $ | 148,875 | | | | | | $ | 272,938 | | | | | | $ | 6,541 | | | | | | | — | | | | | | $ | 486,351 | | | | ST Incentive Deferred Comp | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | |||
| ST Incentive Deferred Comp | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | Total | | | | | $ | 91,200 | | | | | | $ | 167,200 | | | | | | $ | 15,337 | | | | | | | — | | | | | | $ | 760,088 | | | |||||||
| Total | | | | | $ | 148,875 | | | | | | $ | 272,938 | | | | | | $ | 6,541 | | | | | | | — | | | | | | $ | 486,351 | | | J. Berisford | | | | SIPS & ERAPS | | | | | $ | 56,439 | | | | | | $ | 97,515 | | | | | | $ | 32,630 | | | | | | | — | | | | | | $ | 1,356,103 | | | ||||
| J. Berisford | | | | SIPS & ERAPS | | | | | $ | 98,625 | | | | | | $ | 180,813 | | | | | | $ | 24,592 | | | | | | | — | | | | | | $ | 1,169,519 | | | | ST Incentive Deferred Comp | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | |||
| ST Incentive Deferred Comp | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | Total | | | | | $ | 56,439 | | | | | | $ | 97,515 | | | | | | $ | 32,630 | | | | | | | | | | | | | $ | 1,356,103 | | | |||||||
| Total | | | | | $ | 98,625 | | | | | | $ | 180,813 | | | | | | $ | 24,592 | | | | | | | | | | | | | $ | 1,169,519 | | | M. Cheung | | | | SIPS & ERAPS | | | | | $ | 34,952 | | | | | | $ | 64,078 | | | | | | $ | 12,693 | | | | | | | — | | | | | | $ | 557,576 | | | ||||
| M. Chinn | | | | SIPS & ERAPS | | | | | $ | 97,875 | | | | | | $ | 179,438 | | | | | | $ | 5,042 | | | | | | | — | | | | | | $ | 365,493 | | | | ST Incentive Deferred Comp | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | |||
| ST Incentive Deferred Comp | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | Total | | | | | $ | 34,952 | | | | | | $ | 64,078 | | | | | | $ | 12,693 | | | | | | | | | | | | | $ | 557,576 | | | |||||||
| Total | | | | | $ | 97,875 | | | | | | $ | 179,438 | | | | | | $ | 5,042 | | | | | | | | | | | | | $ | 365,493 | | | A. Matturri | | | | SIPS & ERAPS | | | | | $ | 214,350 | | | | | | $ | 157,190 | | | | | | $ | 48,450 | | | | | | | — | | | | | | $ | 2,042,996 | | | ||||
| A. Matturri | | | | SIPS & ERAPS | | | | | $ | 229,688 | | | | | | $ | 168,438 | | | | | | $ | 34,698 | | | | | | | — | | | | | | $ | 1,623,006 | | | | ST Incentive Deferred Comp | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | |||
| ST Incentive Deferred Comp | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | Total | | | | | $ | 214,350 | | | | | | $ | 157,190 | | | | | | $ | 48,450 | | | | | | | — | | | | | | $ | 2,042,996 | | | |||||||
| Total | | | | | $ | 229,688 | | | | | | $ | 168,438 | | | | | | $ | 34,698 | | | | | | | — | | | | | | $ | 1,623,006 | | |
| 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 | | | | | $ | 2,110,662 | | | | | | $ | 6,930,000 | | | |||||||||||||||
| D. Peterson | | | | | $ | 2,100,000 | | | | | | $ | 6,930,000 | | | E. Steenbergen | | | | | $ | 1,294,953 | | | | | | $ | 4,147,500 | | |
| E. Steenbergen | | | | | $ | 1,278,750 | | | | | | $ | 4,147,500 | | | J. Berisford | | | | | $ | 985,799 | | | | | | $ | 3,202,500 | | |
| J. Berisford | | | | | $ | 968,750 | | | | | | $ | 3,202,500 | | | M. Cheung | | | | | $ | 868,703 | | | | | | $ | 2,730,000 | | |
| M. Chinn | | | | | $ | 968,750 | | | | | | $ | 3,202,500 | | | A. Matturri | | | | | $ | 979,412 | | | | | | $ | 3,255,000 | | |
| A. Matturri | | | | | $ | 968,750 | | | | | | $ | 3,150,000 | | |
| Name | | | | Payment on Termination ($) (1) | | | | Payment on Change-in-Control ($) (2) | | Name | | | | Payment on Termination ($) (1) | | | | Payment on Change-in-Control ($) (2) | | ||||||||||||
| | D. Peterson | | | | | $ | 2,300,000 | | | | | | $ | 2,725,667 | | | |||||||||||||||
| D. Peterson | | | | | $ | 2,300,000 | | | | | | $ | 2,688,333 | | | E. Steenbergen | | | | | $ | 1,150,000 | | | | | | $ | 1,462,500 | | |
| E. Steenbergen | | | | | $ | 1,150,000 | | | | | | $ | 1,950,000 | | | J. Berisford | | | | | $ | 900,000 | | | | | | $ | 890,500 | | |
| J. Berisford | | | | | $ | 900,000 | | | | | | $ | 903,500 | | | M. Cheung | | | | | $ | 750,000 | | | | | | $ | 426,000 | | |
| M. Chinn | | | | | $ | 900,000 | | | | | | $ | 845,000 | | | A. Matturri | | | | | $ | 925,000 | | | | | | $ | 1,038,000 | | |
| A. Matturri | | | | | $ | 875,000 | | | | | | $ | 916,000 | | |
| 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 ($) (1)(3) | | | | Total ($) | | | Stock Options ($) (1) | | | | Long-Term Awards ($) (1)(2) | | | | Total ($) | | | | Stock Options ($) (1) | | | | Long-Term Awards ($) (1)(3) | | | | Total ($) | | |||||||||||||||||||||||||||||||||||||||||||
| D. Peterson | | | | | $ | — | | | | | | $ | 24,931,641 | | | | | | $ | 24,931,641 | | | | | | $ | — | | | | | | $ | 27,775,927 | | | | | | $ | 27,775,927 | | | D. Peterson | | | | | $ | — | | | | | | $ | 33,972,335 | | | | | | $ | 33,972,335 | | | | | | $ | — | | | | | | $ | 37,653,868 | | | | | | $ | 37,653,868 | | |
| E. Steenbergen | | | | | $ | — | | | | | | $ | 9,799,473 | | | | | | $ | 9,799,473 | | | | | | $ | — | | | | | | $ | 10,495,037 | | | | | | $ | 10,495,037 | | | E. Steenbergen | | | | | $ | — | | | | | | $ | 9,774,262 | | | | | | $ | 9,774,262 | | | | | | $ | — | | | | | | $ | 10,848,440 | | | | | | $ | 10,848,440 | | |
| J. Berisford | | | | | $ | — | | | | | | $ | 5,079,801 | | | | | | $ | 5,079,801 | | | | | | $ | — | | | | | | $ | 5,538,299 | | | | | | $ | 5,538,299 | | | J. Berisford | | | | | $ | — | | | | | | $ | 6,609,994 | | | | | | $ | 6,609,994 | | | | | | $ | — | | | | | | $ | 7,254,392 | | | | | | $ | 7,254,392 | | |
| M. Chinn | | | | | $ | — | | | | | | $ | 4,125,632 | | | | | | $ | 4,125,632 | | | | | | $ | — | | | | | | $ | 4,584,130 | | | | | | $ | 4,584,130 | | | M. Cheung | | | | | $ | — | | | | | | $ | 2,131,647 | | | | | | $ | 2,131,647 | | | | | | $ | — | | | | | | $ | 2,615,218 | | | | | | $ | 2,615,218 | | |
| A. Matturri | | | | | $ | — | | | | | | $ | 3,614,147 | | | | | | $ | 3,614,147 | | | | | | $ | — | | | | | | $ | 3,985,108 | | | | | | $ | 3,985,108 | | | A. Matturri | | | | | $ | — | | | | | | $ | 4,565,410 | | | | | | $ | 4,565,410 | | | | | | $ | — | | | | | | $ | 5,085,985 | | | | | | $ | 5,085,985 | | |
| 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 | | | | | $ | 100,000 | | | | | | $ | 150,000 | | | | | | $ | 3,553 | | | | | | $ | 253,553 | | | Marco Alverà | | | | | $ | 112,000 | | | | | | $ | 160,000 | | | | | | $ | 10,127 | | | | | | $ | 282,127 | | | |
| William D. Green | | | | | $ | 118,000 (4) | | | | | | $ | 150,000 | | | | | | $ | 127 | | | | | | $ | 268,127 | | | William J. Amelio (3) | | | | | $ | 83,250 | | | | | | $ | 133,333 | | | | | | $ | 74 | | | | | | $ | 216,657 | | | |
| Charles E. Haldeman, Jr. | | | | | $ | 250,000 (5) | | | | | | $ | 150,000 | | | | | | $ | 127 | | | | | | $ | 400,127 | | | William D. Green | | | | | $ | 125,000 (6) | | | | | | $ | 160,000 | | | | | | $ | 127 | | | | | | $ | 285,127 | | | |
| Stephanie C. Hill | | | | | $ | 97,000 | | | | | | $ | 150,000 | | | | | | $ | 127 | | | | | | $ | 247,127 | | | Charles E. Haldeman, Jr. | | | | | $ | 262,000 (6) | | | | | | $ | 160,000 | | | | | | $ | 127 | | | | | | $ | 422,127 | | | |
| Rebecca J. Jacoby | | | | | $ | 97,000 | | | | | | $ | 150,000 | | | | | | $ | 127 | | | | | | $ | 247,127 | | | Stephanie C. Hill | | | | | $ | 115,000 | | | | | | $ | 160,000 | | | | | | $ | 127 | | | | | | $ | 275,127 | | | |
| Monique F. Leroux | | | | | $ | 104,500 | | | | | | $ | 150,000 | | | | | | $ | 127 | | | | | | $ | 254,627 | | | Rebecca J. Jacoby | | | | | $ | 112,000 | | | | | | $ | 160,000 | | | | | | $ | 127 | ��� | | | | | $ | 272,127 | | | |
| Maria R. Morris | | | | | $ | 108,500 | | | | | | $ | 150,000 | | | | | | $ | 127 | | | | | | $ | 258,627 | | | Monique F. Leroux | | | | | $ | 115,000 | | | | | | $ | 160,000 | | | | | | $ | 127 | | | | | | $ | 275,127 | | | |
| Sir Michael Rake (3) | | | | | $ | 106,500 (5) | | | | | | $ | 150,000 | | | | | | $ | 127 | | | | | | $ | 256,627 | | | Maria R. Morris | | | | | $ | 132,000 | | | | | | $ | 160,000 | | | | | | $ | 127 | | | | | | $ | 292,127 | | | |
| Edward B. Rust, Jr. | | | | | $ | 118,000 | | | | | | $ | 150,000 | | | | | | $ | 5,127 | | | | | | $ | 273,127 | | | Sir Michael Rake (4) | | | | | $ | 48,750 | | | | | | $ | 66,667 | | | | | | $ | 53 | | | | | | $ | 115,470 | | | |
| Kurt L. Schmoke | | | | | $ | 98,500 (6) | | | | | | $ | 150,000 | | | | | | $ | 627 | | | | | | $ | 249,127 | | | Edward B. Rust, Jr. | | | | | $ | 125,000 | | | | | | $ | 160,000 | | | | | | $ | 127 | | | | | | $ | 285,127 | | | |
| Richard E. Thornburgh | | | | | $ | 118,000 (4) | | | | | | $ | 150,000 | | | | | | $ | 127 | | | | | | $ | 268,127 | | | Kurt L. Schmoke | | | | | $ | 110,000 (7) | | | | | | $ | 160,000 | | | | | | $ | 127 | | | | | | $ | 270,127 | | |
| | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Richard E. Thornburgh | | | | | $ | 132,000 (5) | | | | | | $ | 160,000 | | | | | | $ | 5,127 | | | | | | $ | 297,127 | | |
| Name | | | | # of Shares | | |||
| |||||||||
| Marco Alverà | | | | | | | | |
| |||||||||
| William J. Amelio (a) | | | | | | 0 | | |
| |||||||||
| William D. Green | | | | | | | | |
| |||||||||
| Charles E. Haldeman, Jr. | | | | | | | | |
| |||||||||
| Stephanie C. Hill | | | | | | | | |
| |||||||||
| Rebecca Jacoby | | | | | | | | |
| |||||||||
| Monique F. Leroux | | | | | | | | |
| |||||||||
| Maria R. Morris | | | | | | | | |
| |||||||||
| Sir Michael Rake | | | | | | | | |
| |||||||||
| Edward B. Rust, Jr. | | | | | | | | |
| |||||||||
| Kurt L. Schmoke | | | | | | | | |
| |||||||||
| Richard E. Thornburgh | | | | | | | |
| Compensation Elements | | | | 2019 | | | | 2018 | |
| Annual Cash Retainer | | | | $90,000 | | | | $70,000 | |
| Board Non-Executive Chair Annual Cash Retainer | | | | $150,000 | | | | $150,000 | |
| Board and Committee Fees | | | | None | | | | $1,500 for each Board meeting | |
| | | | | $1,500 for each Committee meeting | | ||||
| Annual Committee Chair Cash Retainer | | | | $15,000 | | | | $15,000 | |
| Annual Committee Member Cash Retainer | | | | | | | | | |
| Audit Committee | | | | $15,000 | | | | None | |
| Compensation and Nominating Committees | | | | $10,000 | | | | None | |
| Finance Committee | | | | $12,000 | | | | None | |
| Annual Deferred Share Credit | | | | $160,000 | | | | $150,000 | |
| 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 ) | | | | | | | 1,651 | | | Marco Alverà | | | | | | 400 | | | | | | | — | | | | | | | — | | | | | | | 400 | | | | | | | (4 ) | | | | | | | 2,245 | | | |
| William J. Amelio (5) | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | (4 ) | | | | | | | — | | | William J. Amelio | | | | | | 400 | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | (4 ) | | | | | | | 483 | | | |
| John L. Berisford | | | | | | 35,689 | | | | | | | — | | | | | | | — | | | | | | | 35,689 | | | | | | | (4 ) | | | | | | | — | | | John L. Berisford | | | | | | 32,013 | | | | | | | — | | | | | | | — | | | | | | | 32,013 | | | | | | | (4 ) | | | | | | | — | | | |
| Michael A. Chinn (6) | | | | | | 32,437 | | | | | | | — | | | | | | | — | | | | | | | 32,437 | | | | | | | (4 ) | | | | | | | — | | | Martina Cheung | | | | | | 7,251 | | | | | | | — | | | | | | | 3,465 | | | | | | | 10,716 | | | | | | | (4 ) | | | | | | | — | | | |
| William D. Green | | | | | | 1,000 | | | | | | | — | | | | | | | — | | | | | | | 1,000 | | | | | | | (4 ) | | | | | | | 10,996 | | | William D. Green | | | | | | 1,000 | | | | | | | — | | | | | | | — | | | | | | | 1,000 | | | | | | | (4 ) | | | | | | | 12,120 | | | |
| Charles E. Haldeman, Jr. | | | | | | 3,000 | | | | | | | — | | | | | | | — | | | | | | | 3,000 | | | | | | | (4 ) | | | | | | | 19,188 | | | Charles E. Haldeman, Jr. | | | | | | 3,000 | | | | | | | — | | | | | | | — | | | | | | | 3,000 | | | | | | | (4 ) | | | | | | | 20,877 | | | |
| Stephanie C. Hill | | | | | | 400 | | | | | | | — | | | | | | | — | | | | | | | 400 | | | | | | | (4 ) | | | | | | | 1,805 | | | Stephanie C. Hill | | | | | | 400 | | | | | | | — | | | | | | | — | | | | | | | 400 | | | | | | | (4 ) | | | | | | | 2,400 | | | |
| Rebecca J. Jacoby | | | | | | 400 | | | | | | | — | | | | | | | — | | | | | | | 400 | | | | | | | (4 ) | | | | | | | 4,524 | | | Rebecca J. Jacoby | | | | | | 400 | | | | | | | — | | | | | | | — | | | | | | | 400 | | | | | | | (4 ) | | | | | | | 5,142 | | | |
| Monique F. Leroux | | | | | | 500 | | | | | | | — | | | | | | | — | | | | | | | 500 | | | | | | | (4 ) | | | | | | | 2,077 | | | Monique F. Leroux | | | | | | 500 | | | | | | | — | | | | | | | — | | | | | | | 500 | | | | | | | (4 ) | | | | | | | 2,675 | | | |
| Alexander J. Matturri | | | | | | 17,675 | | | | | | | — | | | | | | | 16,259 | | | | | | | 33,934 | | | | | | | (4 ) | | | | | | | — | | | Alexander J. Matturri | | | | | | 21,112 | | | | | | | — | | | | | | | 5,560 | | | | | | | 26,672 | | | | | | | (4 ) | | | | | | | — | | | |
| Maria R. Morris | | | | | | 400 | | | | | | | — | | | | | | | — | | | | | | | 400 | | | | | | | (4 ) | | | | | | | 2,077 | | | Maria R. Morris | | | | | | 400 | | | | | | | — | | | | | | | — | | | | | | | 400 | | | | | | | (4 ) | | | | | | | 2,675 | | | |
| Douglas L. Peterson | | | | | | 175,131 | | | | | | | — | | | | | | | 51,304 | | | | | | | 226,435 | | | | | | | (4 ) | | | | | | | — | | | Douglas L. Peterson | | | | | | 182,604 | | | | | | | — | | | | | | | 51,304 | | | | | | | 233,908 | | | | | | | (4 ) | | | | | | | — | | | |
| Sir Michael Rake (7) | | | | | | 400 | | | | | | | — | | | | | | | — | | | | | | | 400 | | | | | | | (4 ) | | | | | | | 23,982 | | | Edward B. Rust, Jr. | | | | | | 2,000 | | | | | | | — | | | | | | | — | | | | | | | 2,000 | | | | | | | (4 ) | | | | | | | 74,083 | | | |
| Edward B. Rust, Jr. | | | | | | 2,000 | | | | | | | — | | | | | | | — | | | | | | | 2,000 | | | | | | | (4 ) | | | | | | | 72,904 | | | Kurt L. Schmoke | | | | | | 1,036 | | | | | | | — | | | | | | | — | | | | | | | 1,036 | | | | | | | (4 ) | | | | | | | 46,018 | | | |
| Kurt L. Schmoke | | | | | | 1,036 | | | | | | | — | | | | | | | — | | | | | | | 1,036 | | | | | | | (4 ) | | | | | | | 44,870 | | | Ewout L. Steenbergen | | | | | | 21,197 | | | | | | | — | | | | | | | — | | | | | | | 21,197 | | | | | | | (4 ) | | | | | | | — | | | |
| Ewout L. Steenbergen | | | | | | 18,794 | | | | | | | — | | | | | | | — | | | | | | | 18,794 | | | | | | | (4 ) | | | | | | | — | | | Richard E. Thornburgh | | | | | | 1,300 | | | | | | | 3,300 (5) | | | | | | | — | | | | | | | 1,300 | | | | | | | (4 ) | | | | | | | 11,352 | | | |
| Richard E. Thornburgh | | | | | | 1,300 | | | | | | | 3,300 (8) | | | | | | | — | | | | | | | 1,300 | | | | | | | (4 ) | | | | | | | 10,684 | | | All Directors and executive officers of the Company as a group (a total of 22, including those named above) (6) | | | | | | 309,848 | | | | | | | 7,533 | | | | | | | 62,616 | | | | | | | 376,697 | | | | | | | 0.2% | | | | | | | 180,070 | | |
| | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| All Directors and executive officers of the Company as a group (a total of 25, including those named above) (9) | | | | | | 338,247 | | | | | | | 10,527 | | | | | | | 73,752 | | | | | | | 419,226 | | | | | | | 0.2% | | | | | | | 194,758 | | |
| 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) | | | | | | 367,228 | | | | | | | 20,856,350 | | | | | | | 20,856,350 | | | | | | | 8.31% | | | The Vanguard Group 100 Vanguard Blvd. Malvern, Pennsylvania 19355 (2) | | | | | | 446,063 | | | | | | | 21,187,138 | | | | | | | 21,187,138 | | | | | | | 8.66% | | | |
| BlackRock, Inc. 55 East 52nd Street New York, New York 10022 (3) | | | | | | 14,476,947 | | | | | | | 17,062,252 | | | | | | | 17,062,252 | | | | | | | 6.80% | | | BlackRock, Inc. 55 East 52nd Street New York, New York 10055 (3) | | | | | | 15,792,981 | | | | | | | 19,067,173 | | | | | | | 19,067,173 | | | | | | | 7.80% | | |
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| State Street Corporation State Street Financial Center One Lincoln Street Boston, Massachusetts 02111 (4) | | | | | | 11,314,151 | | | | | | | 12,068,382 | | | | | | | 12,432,605 | | | | | | | 4.90% | | |
| Services Rendered | | | | Year Ended 12/31/18 | | | | Year Ended 12/31/17 | | Services Rendered | | | | Year Ended 12/31/19 | | | | Year Ended 12/31/18 | | | |||||||||||
| Audit Fees | | | | | $ | 6,863,000 | | | | | | $ | 6,560,000 | | | Audit Fees | | | | | $ | 7,356,000 | | | | | | $ | 6,863,000 | | | |
| Audit-Related Fees | | | | | $ | 1,736,000 | | | | | | $ | 1,636,000 | | | Audit-Related Fees | | | | | $ | 1,825,000 | | | | | | $ | 1,736,000 | | | |
| Tax Compliance Fees | | | | | $ | 2,024,000 | | | | | | $ | 2,071,000 | | | Tax Compliance Fees | | | | | $ | 2,349,000 | | | | | | $ | 2,024,000 | | | |
| All Other Fees | | | | | | — | | | | | | | — | | | All Other Fees | | | | | | — | | | | | | | — | | |
| | | | | | Your Board of Directors recommends that you vote FOR the election of each of the Director nominees. | |
| | | | | | 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. | |
| Plan Category | | | | Number of Securities to be Issued Upon Exercise of Outstanding Options, Warrants and Rights (a) | | | | Weighted Average Exercise Price of Outstanding Options, Warrants and Rights (b) | | | | Number of Securities Remaining Available for Future Issuance under Equity Compensation Plans (excluding securities reflected in column (a)) (c) | | |||||||||
| |||||||||||||||||||||||
| Equity compensation plans approved by security holders | | | | | | 1,652,682 | | | | | | $ | 47.92 | | | | | | | 33,293,160 | | |
| |||||||||||||||||||||||
| Equity compensation plans not approved by security holders | | | | | | — | | | | | | | — | | | | | | | — | | |
| |||||||||||||||||||||||
| Total | | | | | | 1,652,682 (1) | | | | | | $ | 47.92 | | | | | | | 33,293,160 (2)(3) | | |
| | | | | | Your Board of Directors recommends that you vote FOR the approval of an amendment to the | |
| Name and Position | | | | Dollar Value ($) (1) | | | | Number of Shares (2) | | ||||||
| All non-employee directors as a group | | | | | $ | 1,760,000 | | | | | | | 10,357 | | |
| | | | | | Your Board of Directors recommends that you vote FOR the ratification of Ernst & Young LLP as the Company’s independent | |
| (Unaudited) Year ended December 31, 2018* | | | | Revenue | | | | EBITA (Operating Profit) | | | | Diluted Earnings per Share** | | | | EBITA Margin (Operating Profit Margin) | | (Unaudited) Year ended December 31, 2019* | | | | Revenue | | | | EBITA (Operating Profit) | | | | Diluted Earnings per Share** | | | | EBITA Margin (Operating Profit Margin) | | ||||||||||||||||||||||||
| (dollars in millions, except per share data) | | | | | | (dollars in millions, except per share data) | | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| As reported | | | | | $ | 6,258 | | | | | | $ | 2,790 | | | | | | $ | 7.73 | | | | | | | 44.6% | | | | |||||||||||||||||||||||||||||
| Non-GAAP Adjustments: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | As reported | | | | | $ | 6,699 | | | | | | $ | 3,226 | | | | | | $ | 8.60 | | | | | | | 48.2% | | |
| | Non-GAAP Adjustments: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||||||||||||
| Ratings adjustments, including legal settlement expenses and employee severance charges | | | | | | — | | | | | | | 82 | | | | | | | 0.32 | | | | | | | | | | | |||||||||||||||||||||||||||||
| | Ratings adjustments, including employee severance charges | | | | | | — | | | | | | | 11 | | | | | | | 0.05 | | | | | | | — | | | |||||||||||||||||||||||||||||
| Market Intelligence adjustments, including restructuring charges related to a business disposition and employee severance charges | | | | | | — | | | | | | | 7 | | | | | | | 0.03 | | | | | | | | | | | |||||||||||||||||||||||||||||
| | Market Intelligence adjustments, including a gain on a disposition, employee severance charges and acquisition related costs | | | | | | — | | | | | | | (13) | | | | | | | (0.05) | | | | | | | — | | | |||||||||||||||||||||||||||||
| Corporate Unallocated adjustments, including Kensho retention-related expense, lease impairments, and employee severance charges | | | | | | — | | | | | | | 52 | | | | | | | 0.22 | | | | | | | | | | | |||||||||||||||||||||||||||||
| | Platts adjustments, including a gain on a disposition and employee severance charges | | | | | | — | | | | | | | (26) | | | | | | | (0.11) | | | | | | | — | | | |||||||||||||||||||||||||||||
| Deal-related amortization | | | | | | — | | | | | | | 122 | | | | | | | 0.48 | | | | | | | | | | | |||||||||||||||||||||||||||||
| | Corporate Unallocated adjustments, including Kensho retention-related expense, lease impairments and employee severance charges | | | | | | — | | | | | | | 39 | | | | | | | 0.16 | | | | | | | — | | | |||||||||||||||||||||||||||||
| Other income (pension-related charge) | | | | | | — | | | | | | | — | | | | | | | 0.02 | | | | | | | | | | | |||||||||||||||||||||||||||||
| | Deal-related amortization | | | | | | — | | | | | | | 122 | | | | | | | 0.49 | | | | | | | — | | | |||||||||||||||||||||||||||||
| Provision for taxes on income | | | | | | — | | | | | | | — | | | | | | | (0.29) | | | | | | | | | | | |||||||||||||||||||||||||||||
| Non-GAAP adjustment subtotal | | | | | | — | | | | | | | 263 | | | | | | | 0.77 | | | | | | | | | | Other expense (pension-related charge) | | | | | | — | | | | | | | — | | | | | | | 0.46 | | | | | | | — | | |
| Adjusted | | | | | $ | 6,258 | | | | | | $ | 3,052 | | | | | | $ | 8.50 | | | | | | | 48.8% | | | | |||||||||||||||||||||||||||||
| | Interest expense (costs associated with early repayment of senior notes) | | | | | | — | | | | | | | — | | | | | | | 0.23 | | | | | | | — | | | |||||||||||||||||||||||||||||
| Further Non-GAAP ICP Adjustments: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||||||||||||
| | Provision for income taxes | | | | | | — | | | | | | | — | | | | | | | (0.30) | | | | | | | — | | | |||||||||||||||||||||||||||||
| Unspent strategic investment funds | | | | | | — | | | | | | | (20) | | | | | | | — | | | | | | | | | | Non-GAAP adjustment subtotal | | | | | | — | | | | | | | 134 | | | | | | | 0.93 | | | | | | | — | | |
| | Adjusted | | | | | $ | 6,699 | | | | | | $ | 3,360 | | | | | | $ | 9.53 | | | | | | | 50.2% | | | |||||||||||||||||||||||||||||
| Acquisitions | | | | | | (28) | | | | | | | 3 | | | | | | | — | | | | | | | | | | | |||||||||||||||||||||||||||||
| Further Non-GAAP ICP Adjustments subtotal | | | | | | (28) | | | | | | | (17) | | | | | | | — | | | | | | | | | | Further Non-GAAP ICP Adjustments: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| ICP Adjusted subtotal | | | | | $ | 6,230 | | | | | | $ | 3,035 | | | | | | $ | 8.50 | | | | | | | | | | | |||||||||||||||||||||||||||||
| Divestitures | | | | | | — | | | | | | | — | | | | | | | 0.42 | | | | | | | | | | 2019 acquisitions and divestitures | | | | | | 9 | | | | | | | 7 | | | | | | | — | | | | | | | — | | | |
| Changes in tax law | | | | | | — | | | | | | | — | | | | | | | (1.11) | | | | | | | | | | Unspent strategic investment funds | | | | | | — | | | | | | | (3) | | | | | | | — | | | | | | | — | | | |
| Benefits from structural organizational changes making ICP Adjusted EPS results comparable to 2015 Baseline ICP Adjusted EPS results | | | | | | — | | | | | | | — | | | | | | | (0.08) | | | | | | | | | | 2018 Kensho acquisition | | | | | | — | | | | | | | — | | | | | | | 0.14 | | | | | | | — | | |
| ICP Adjusted | | | | | $ | 6,230 | | | | | | $ | 3,035 | | | | | | $ | 7.73 | | | | | | | 48.7% | | | | |||||||||||||||||||||||||||||
| Provision for income taxes | | | | | | — | | | | | | | — | | | | | | | (1.22) | | | | | | | — | | | ||||||||||||||||||||||||||||||
| Further Non-GAAP ICP Adjustment subtotal | | | | | | 9 | | | | | | | 4 | | | | | | | (1.08) | | | | | | | — | | | ||||||||||||||||||||||||||||||
| ICP Adjusted | | | | | $ | 6,708 | | | | | | $ | 3,364 | | | | | | $ | 8.45 | | | | | | | 50.1% | | |
| (Unaudited) Ratings Year ended December 31, 2019* | | | | Revenue | | | | EBITA (Operating Profit) | | | | EBITA Margin (Operating Profit Margin) | | |||||||||
| (dollars in millions) | | |||||||||||||||||||||
| As reported | | | | | $ | 3,106 | | | | | | $ | 1,763 | | | | | | | 56.8% | | |
| Non-GAAP Adjustments: | | | | | | | | | | | | | | | | | | | | | | |
| |||||||||||||||||||||||
| Employee severance charges | | | | | | — | | | | | | | 11 | | | | | | | — | | |
| |||||||||||||||||||||||
| Deal-related amortization | | | | | | — | | | | | | | 2 | | | | | | | — | | |
| Non-GAAP adjustment subtotal | | | | | | — | | | | | | | 13 | | | | | | | — | | |
| Adjusted | | | | | $ | 3,106 | | | | | | $ | 1,776 | | | | | | | 57.2% | | |
| |||||||||||||||||||||||
| Further Non-GAAP ICP Adjustments: | | | | | | | | | | | | | | | | | | | | | | |
| |||||||||||||||||||||||
| Scorecard and enterprise performance | | | | | | — | | | | | | | 7 | | | | | | | — | | |
| |||||||||||||||||||||||
| Foreign exchange | | | | | | — | | | | | | | 2 | | | | | | | — | | |
| Further Non-GAAP ICP Adjustments subtotal | | | | | | — | | | | | | | 9 | | | | | | | — | | |
| ICP Adjusted | | | | | $ | 3,106 | | | | | | $ | 1,786 | | | | | | | 57.5% | | |
| (Unaudited) Market Intelligence Year ended December 31, 2019* | | | | Revenue | | | | EBITA (Operating Profit) | | | | EBITA Margin (Operating Profit Margin) | | |||||||||
| (dollars in millions) | | |||||||||||||||||||||
| As reported | | | | | $ | 1,959 | | | | | | $ | 607 | | | | | | | 31.0% | | |
| Non-GAAP Adjustments: | | | | | | | | | | | | | | | | | | | | | | |
| |||||||||||||||||||||||
| Gain on disposition | | | | | | — | | | | | | | (22) | | | | | | | — | | |
| |||||||||||||||||||||||
| Employee severance charges | | | | | | — | | | | | | | 6 | | | | | | | — | | |
| |||||||||||||||||||||||
| Acquisition-related costs | | | | | | — | | | | | | | 4 | | | | | | | — | | |
| |||||||||||||||||||||||
| Deal-related amortization | | | | | | — | | | | | | | 75 | | | | | | | — | | |
| Non-GAAP adjustment subtotal | | | | | | — | | | | | | | 62 | | | | | | | — | | |
| Adjusted | | | | | $ | 1,959 | | | | | | $ | 670 | | | | | | | 34.2% | | |
| |||||||||||||||||||||||
| Further Non-GAAP ICP Adjustments: | | | | | | | | | | | | | | | | | | | | | | |
| |||||||||||||||||||||||
| Foreign exchange | | | | | | (2) | | | | | | | (1) | | | | | | | — | | |
| |||||||||||||||||||||||
| Strategic investment spend | | | | | | — | | | | | | | (3) | | | | | | | — | | |
| |||||||||||||||||||||||
| Acquisitions and divestitures | | | | | | 5 | | | | | | | 4 | | | | | | | — | | |
| |||||||||||||||||||||||
| Scorecard and enterprise performance | | | | | | — | | | | | | | 3 | | | | | | | — | | |
| |||||||||||||||||||||||
| Further Non-GAAP ICP Adjustments subtotal | | | | | | — | | | | | | | 3 | | | | | | | — | | |
| ICP Adjusted | | | | | $ | 1,963 | | | | | | $ | 673 | | | | | | | 34.3% | | |
| (Unaudited) Indices Year ended December 31, 2019* | | | | Revenue | | | | EBITA (Operating Profit) | | | | EBITA Margin (Operating Profit Margin) | | |||||||||
| (dollars in millions) | | |||||||||||||||||||||
| As reported | | | | | $ | 918 | | | | | | $ | 630 | | | | | | | 68.6% | | |
| Non-GAAP Adjustments: | | | | | | | | | | | | | | | | | | | | | | |
| |||||||||||||||||||||||
| Deal-related amortization | | | | | | — | | | | | | | 6 | | | | | | | — | | |
| Non-GAAP adjustment subtotal | | | | | | — | | | | | | | 6 | | | | | | | — | | |
| Adjusted | | | | | $ | 918 | | | | | | $ | 635 | | | | | | | 69.2% | | |
| |||||||||||||||||||||||
| Further Non-GAAP ICP Adjustments: | | | | | | | | | | | | | | | | | | | | | | |
| |||||||||||||||||||||||
| Revenue timing adjustments | | | | | | (9) | | | | | | | (9) | | | | | | | — | | |
| |||||||||||||||||||||||
| Foreign exchange | | | | | | — | | | | | | | (1) | | | | | | | — | | |
| |||||||||||||||||||||||
| Scorecard and enterprise performance | | | | | | — | | | | | | | 1 | | | | | | | — | | |
| Further Non-GAAP ICP Adjustment subtotal | | | | | | (9) | | | | | | | (9) | | | | | | | — | | |
| ICP Adjusted | | | | | $ | 909 | | | | | | $ | 626 | | | | | | | 68.9% | | |
| (Unaudited) Year ended December 31, 2018* | | | | Revenue | | | | EBITA (Operating Profit) | | | | Diluted Earnings per Share** | | | | EBITA Margin (Operating Profit Margin) | | ||||||||||||
| | | | | (dollars in millions, except per share data) | | ||||||||||||||||||||||||
| ||||||||||||||||||||||||||||||
| As reported | | | | | $ | 6,258 | | | | | | $ | 2,790 | | | | | | $ | 7.73 | | | | | | | 44.6% | | |
| Non-GAAP Adjustments: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| ||||||||||||||||||||||||||||||
| Ratings adjustments, including legal settlement expenses and employee severance charges | | | | | | — | | | | | | | 82 | | | | | | | 0.32 | | | | | | | | | |
| ||||||||||||||||||||||||||||||
| Market Intelligence adjustments, including restructuring charges related to a business disposition and employee severance charges | | | | | | — | | | | | | | 7 | | | | | | | 0.03 | | | | | | | | | |
| ||||||||||||||||||||||||||||||
| Corporate Unallocated adjustments, including Kensho retention-related expense, lease impairments, and employee severance charges | | | | | | — | | | | | | | 52 | | | | | | | 0.22 | | | | | | | | | |
| ||||||||||||||||||||||||||||||
| Deal-related amortization | | | | | | — | | | | | | | 122 | | | | | | | 0.48 | | | | | | | | | |
| ||||||||||||||||||||||||||||||
| Other income (pension-related charge) | | | | | | — | | | | | | | — | | | | | | | 0.02 | | | | | | | | | |
| ||||||||||||||||||||||||||||||
| Provisions for taxes on income | | | | | | — | | | | | | | — | | | | | | | (0.29) | | | | | | | | | |
| Non-GAAP adjustment subtotal | | | | | | — | | | | | | | 263 | | | | | | | 0.77 | | | | | | | | | |
| Adjusted | | | | | $ | 6,258 | | | | | | $ | 3,052 | | | | | | $ | 8.50 | | | | | | | 48.8% | | |
| (Unaudited) Ratings Year ended December 31, 2018* | | | | Revenue | | | | EBITA (Operating Profit) | | | | EBITA Margin (Operating Profit Margin) | | |||||||||
| (dollars in millions) | | |||||||||||||||||||||
| As reported | | | | | $ | 2,883 | | | | | | $ | 1,530 | | | | | | | 53.0% | | |
| Non-GAAP Adjustments: | | | | | | | | | | | | | | | | | | | | | | |
| |||||||||||||||||||||||
| Ratings adjustments, including legal settlement expenses and employee severance charges | | | | | | — | | | | | | | 82 | | | | | | | | | |
| |||||||||||||||||||||||
| Deal-related amortization | | | | | | — | | | | | | | 2 | | | | | | | | | |
| Non-GAAP adjustment subtotal | | | | | | — | | | | | | | 84 | | | | | | | | | |
| Adjusted | | | | | $ | 2,883 | | | | | | $ | 1,614 | | | | | | | 56.0% | | |
| |||||||||||||||||||||||
| Further Non-GAAP ICP Adjustments: | | | | | | | | | | | | | | | | | | | | | | |
| |||||||||||||||||||||||
| Corporate Unallocated adjustments | | | | | | — | | | | | | | (18) | | | | | | | | | |
| |||||||||||||||||||||||
| Strategic investment spend | | | | | | — | | | | | | | 3 | | | | | | | | | |
| |||||||||||||||||||||||
| Adjustment relating to the adoption of a new accounting standard*** | | | | | | 13 | | | | | | | 13 | | | | | | | | | |
| |||||||||||||||||||||||
| Acquisitions | | | | | | (6) | | | | | | | (1) | | | | | | | | | |
| |||||||||||||||||||||||
| Foreign exchange | | | | | | 4 | | | | | | | (8) | | | | | | | | | |
| |||||||||||||||||||||||
| Other | | | | | | — | | | | | | | (3) | | | | | | | | | |
| Further Non-GAAP ICP Adjustments subtotal | | | | | | 11 | | | | | | | (14) | | | | | | | | | |
| ICP Adjusted | | | | | $ | 2,894 | | | | | | $ | 1,599 | | | | | | | 55.3% | | |
| (Unaudited) Market Intelligence Year ended December 31, 2018* | | | | Revenue | | | | EBITA (Operating Profit) | | | | EBITA Margin (Operating Profit Margin) | | |||||||||
| (dollars in millions) | | |||||||||||||||||||||
| As reported | | | | | $ | 1,833 | | | | | | $ | 545 | | | | | | | 29.8% | | |
| Non-GAAP Adjustments: | | | | | | | | | | | | | | | | | | | | | | |
| |||||||||||||||||||||||
| Market Intelligence adjustments, including restructuring charges related to a business disposition and employee severance charges | | | | | | — | | | | | | | 7 | | | | | | | | | |
| |||||||||||||||||||||||
| Deal-related amortization | | | | | | — | | | | | | | 73 | | | | | | | | | |
| Non-GAAP adjustment subtotal | | | | | | — | | | | | | | 80 | | | | | | | | | |
| Adjusted | | | | | $ | 1,833 | | | | | | $ | 625 | | | | | | | 34.1% | | |
| |||||||||||||||||||||||
| Further Non-GAAP ICP Adjustments: | | | | | | | | | | | | | | | | | | | | | | |
| |||||||||||||||||||||||
| Corporate Unallocated adjustments | | | | | | — | | | | | | | (3) | | | | | | | | | |
| |||||||||||||||||||||||
| Strategic investment spend | | | | | | — | | | | | | | 6 | | | | | | | | | |
| |||||||||||||||||||||||
| Acquisitions | | | | | | (23) | | | | | | | 4 | | | | | | | | | |
| |||||||||||||||||||||||
| Adjustment relating to the adoption of a new accounting standard*** | | | | | | (12) | | | | | | | (7) | | | | | | | | | |
| |||||||||||||||||||||||
| Foreign exchange adjustment | | | | | | — | | | | | | | (4) | | | | | | | | | |
| Further Non-GAAP ICP Adjustments subtotal | | | | | | (34) | | | | | | | (4) | | | | | | | | | |
| ICP Adjusted | | | | | $ | 1,798 | | | | | | $ | 622 | | | | | | | 34.6% | | |
| (Unaudited) Indices Year ended December 31, 2018* | | | | Revenue | | | | EBITA (Operating Profit) | | | | EBITA Margin (Operating Profit Margin) | | |||||||||
| (dollars in millions) | | |||||||||||||||||||||
| As reported | | | | | $ | 837 | | | | | | $ | 563 | | | | | | | 67.3% | | |
| Non-GAAP Adjustments: | | | | | | | | | | | | | | | | | | | | | | |
| |||||||||||||||||||||||
| Deal-related amortization | | | | | | — | | | | | | | 6 | | | | | | | | | |
| Non-GAAP adjustment subtotal | | | | | | — | | | | | | | — | | | | | | | | | |
| Adjusted | | | | | $ | 837 | | | | | | $ | 568 | | | | | | | 68.0% | | |
| |||||||||||||||||||||||
| Further Non-GAAP ICP Adjustments: | | | | | | — | | | | | | | — | | | | | | | | | |
| ICP Adjusted | | | | | $ | 837 | | | | | | $ | 568 | | | | | | | 68.0% | | |
| (Unaudited) Year ended December 31, 2017* | | | | Revenue | | | | EBITA (Operating Profit) | | | | Diluted Earnings per Share** | | | | EBITA Margin (Operating Profit Margin) | | (Unaudited) Year ended December 31, 2016* | | | | Revenue | | | | EBITA (Operating Profit) | | | | Diluted Earnings per Share** | | |||||||||||||||||||||
| (dollars in millions, except per share data) | | | (dollars in millions, except per share data) | | ||||||||||||||||||||||||||||||||||||||||||||||||
| As reported | | | | | $ | 6,063 | | | | | | $ | 2,583 | | | | | | $ | 5.78 | | | | | | | 42.6% | | | As reported | | | | | $ | 5,661 | | | | | | $ | 3,341 | | | | | | $ | 7.94 | | |
| Non-GAAP Adjustments: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Non-GAAP Adjustments: | | | | | | | | | | | | | | | | | | | | | | | |
| Ratings adjustments, including legal settlement expenses and employee severance charges | | | | | | — | | | | | | | 80 | | | | | | | 0.31 | | | | | | | | | | Ratings adjustments, including net legal settlement insurance recoveries, partially offset by employee severance charges | | | | | | | | | | | | | (4) | | | | | | | (0.02) | | | |
| Market Intelligence adjustments, including employee severance charges and a non-cash disposition-related adjustment | | | | | | — | | | | | | | 11 | | | | | | | 0.04 | | | | | | | | | | Market Intelligence adjustments, including gains on dispositions of J.D. Power, SPSE/ CMA businesses and fund research business, partially offset by disposition-related costs, a technology- related impairment charge and acquisition-related costs | | | | | | | | | | | | | (1,027) | | | | | | | (3.87) | | | |
| Platts adjustments, including a non-cash acquisition-related adjustment, a charge to exit a lease facility, an asset write-off and employee severance charges | | | | | | — | | | | | | | 21 | | | | | | | 0.08 | | | | | | | | | | Corporate unallocated adjustments-disposition-related reserve release | | | | | | | | | | | | | (3) | | | | | | | (0.01) | | | |
| Corporate Unallocated adjustments, including a charge to exit leased facilities and employee severance charges | | | | | | — | | | | | | | 29 | | | | | | | 0.11 | | | | | | | | | | Deal-related amortization | | | | | | | | | | | | | 96 | | | | | | | 0.36 | | | |
| Deal-related amortization | | | | | | — | | | | | | | 98 | | | | | | | 0.38 | | | | | | | | | | Interest expense-redemption related to early payment of senior notes | | | | | | | | | | | | | | | | | | | | 0.05 | | | |
| Other income (pension-related charge) | | | | | | — | | | | | | | — | | | | | | | 0.03 | | | | | | | | | | Provision for taxes on income | | | | | | | | | | | | | | | | | | | | 0.89 | | |
| | Non-GAAP adjustment subtotal | | | | | | — | | | | | | | (938) | | | | | | | (2.60) | | | |||||||||||||||||||||||||||||
| Provisions for taxes on income | | | | | | — | | | | | | | — | | | | | | | 0.16 | | | | | | | | | | Adjusted*** | | | | | $ | 5,661 | | | | | | $ | 2,403 | | | | | | $ | 5.35 | | |
| Non-GAAP adjustment subtotal | | | | | | — | | | | | | | 239 | | | | | | | 1.12 | | | | | | | | | | |||||||||||||||||||||||
| Adjusted | | | | | $ | 6,063 | | | | | | $ | 2,822 | | | | | | $ | 6.89 | | | | | | | 46.5% | | | |||||||||||||||||||||||
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| Further Non-GAAP ICP Adjustments: | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | | | | |||||||||||||||||||||||
| ICP Adjusted | | | | | $ | 6,063 | | | | | | $ | 2,822 | | | | | | $ | 6.89 | | | | | | | 46.5% | | |
| (Unaudited) Year ended December 31, 2015 | | | | Revenue | | | | EBITA (Operating Profit) | | | | Diluted Earnings per Share** | | |||||||||
| (dollars in millions except per share data) | | |||||||||||||||||||||
| As reported | | | | | $ | 5,313 | | | | | | $ | 1,908 | | | | | | $ | 4.21 | | |
| Non-GAAP Adjustments: | | | | | | | | | | | | | | | | | | | | | | |
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| Ratings adjustments, including legal settlements expenses and restructuring charges, partially offset by insurance recoveries | | | | | | | | | | | | | 68 | | | | | | | 0.25 | | |
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| Market Intelligence adjustments, including operating efficiencies primarily related to restructuring and acquisition-related costs | | | | | | | | | | | | | 69 | | | | | | | 0.25 | | |
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| Platts restructuring charge | | | | | | | | | | | | | 1 | | | | | | | — | | |
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| Corporate unallocated adjustments, including a gain on the sale of our interest in a legacy McGraw Hill Construction investment, partially offset by restructuring charges | | | | | | | | | | | | | (2) | | | | | | | (0.01) | | |
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| Deal-related amortization | | | | | | | | | | | | | 67 | | | | | | | 0.24 | | |
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| Provisions for taxes on income | | | | | | | | | | | | | | | | | | | | (0.26) | | |
| Non-GAAP adjustment subtotal | | | | | | — | | | | | | | 203 | | | | | | | 0.48 | | |
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| Adjusted**** | | | | | $ | 5,313 | | | | | | $ | 2,111 | | | | | | $ | 4.69 | | |