UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

 

SCHEDULE 14A

(RULE14a-101)

INFORMATION REQUIRED IN PROXY STATEMENT

SCHEDULE 14A INFORMATION

Proxy Statement Pursuant to Section 14(a) of the

Securities Exchange Act of 1934

Filed by the Registrantx    Filed by a Party other than the Registrant¨

Check the appropriate box:

 

¨Preliminary Proxy Statement

 

¨Confidential, for Use of the Commission Only (as permitted by Rule14a-6(e)(2))

 

xDefinitive Proxy Statement

 

¨Definitive Additional Materials

 

¨Soliciting Material Pursuant to Rule14a-11(c) or Rule14a-12

 

BROADRIDGE FINANCIAL SOLUTIONS, INC.

 

 

(Name of Registrant as Specified in Its Charter)

 

 

  

 

(Name of Person(s) Filing Proxy Statement, if other than Registrant)

 

Payment of Filing Fee (Check the appropriate box):

 

xNo fee required.

 

¨Fee computed on table below per Exchange Act Rules14a-6(i)(4) and0-11.

 

 (1)Title of each class of securities to which transaction applies:

 

 

  

 

 (2)Aggregate number of securities to which transaction applies:

 

 

  

 

 (3)Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule0-11 (Set forth the amount on which the filing fee is calculated and state how it was determined):

 

 

  

 

 (4)Proposed maximum aggregate value of transaction:

 

 

  

 

 (5)Total fee paid:

 

¨Fee paid previously with preliminary materials.

 

¨Check box if any part of the fee is offset as provided by Exchange Act Rule0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the form or schedule and the date of its filing.

 

 (1)Amount previously paid:

 

 

  

 

 (2)Form, schedule or registration statement no.:

 

 

  

 

 (3)Filing party:

 

 

  

 

 (4)Date filed:


NOTICE OF 2013 ANNUAL MEETING AND PROXY STATEMENT

LOGO

LOGO

 

 


LOGO

1981 Marcus Avenue

Lake Success, New York 11042

Dear Stockholder:

You are cordially invited to attend the 20132014 Annual Meeting of Stockholders of Broadridge Financial Solutions, Inc. Our 20132014 Annual Meeting will be held on Thursday, November 14, 2013,13, 2014, at 1010:00 a.m. Eastern Time. We are very pleased to note that this year’s annual meeting will be our fifthsixth completely virtual meeting of stockholders. You will be able to attend the 20132014 Annual Meeting, vote, and submit your questions during the meeting via live webcastthe Internet by visitingwww.virtualshareholdermeeting.com/br13br14.

As permitted byAt the rules of the Securities and Exchange Commission, we are also pleased to be furnishing our proxy materials to stockholders primarily over the Internet. We believe this process expedites stockholders’ receipt of the materials, lowers the costs of our annual meeting, and conserves natural resources. On October 4, 2013, we mailed our stockholders a notice containing instructions on how to access our 2013 Proxy Statement and 2013 Annual Report and vote online. The notice also included instructions on how you can receive a paper copy of the proxy materials, including the notice of annual meeting, 2013 Proxy Statement, and proxy card. If you received your proxy materials by mail, the notice of annual meeting, 2013 Proxy Statement, and proxy card fromwill elect our Board of Directors were enclosed. If you received your proxy materials via e-mail, the e-mail contained voting instructions and linksconduct several other important items of business, and I will report on our fiscal year 2014 financial performance. I will also answer questions from our stockholders. Due to an age limitation for election to the 2013 Proxy StatementBoard provided in our Corporate Governance Principles, Sandra S. Jaffee, elected to the Board in 2010, will be rotating off the Board following the 2014 Annual Meeting. I wish Sandy well and 2013 Annual Reportthank her for her service on the Internet.Board.

At this year’s annual meeting, the agenda includes the following items:

Election of Directors;

Ratification of Deloitte & Touche LLP as the Company’s independent registered public accounting firm;

Approval of the amendment and restatement of the Broadridge 2007 Omnibus Award Plan;

Advisory vote on the Company’s executive compensation (the Say on Pay Vote); and

To transact such other business as may properly come before the meeting and any adjournment or postponement thereof.

Whether or not you plan to attend the 20132014 Annual Meeting, please read our 20132014 Proxy Statement for detailedimportant information on each of the proposals.proposals, and our practices in the areas of corporate governance and executive compensation. Our 20132014 Annual Report contains information about Broadridge and itsour financial performance.

Please provide your voting instructions by the Internet, telephone, or by returning a proxy card or voting instruction form. Your vote is important to us and our business and we strongly urge you to cast your vote.

I am very much looking forward to our 20132014 Annual Meeting of Stockholders.

Sincerely,

 

LOGO

Richard J. Daly

President and Chief Executive Officer

Lake Success, New York

October 4, 20133, 2014


TABLE OF CONTENTS

Page

NOTICE OF ANNUAL MEETING OF STOCKHOLDERS

PROXY STATEMENT FOR ANNUAL MEETING OF STOCKHOLDERS

1

INTERNET AVAILABILITY OF PROXY MATERIALS

1

ATTENDING THE ANNUAL MEETING

1

ABOUT THE 2013 ANNUAL MEETING

2

Voting Procedures

2

Vote Confirmation

3

Proxy Solicitation

3

PROPOSAL 1—ELECTION OF DIRECTORS

4

Nominee Qualifications

4

Information About the Nominees

5

Required Vote

10

RECOMMENDATION OF THE BOARD OF DIRECTORS

10

CORPORATE GOVERNANCE

11

The Board of Directors

11

Board Leadership Structure

11

Committees of the Board

12

Nomination Process

13

The Board’s Role in Risk Oversight

14

Communications with the Board of Directors

16

Website Access to Corporate Governance Documents

16

Certain Relationships and Related Transactions

16

Director Attendance at Annual Meetings

17

MANAGEMENT

18

Directors and Executive Officers

18

OWNERSHIP OF COMMON STOCK BY MANAGEMENT AND CERTAIN BENEFICIAL OWNERS

21

DIRECTOR COMPENSATION

23

Fiscal Year 2013 Non-Management Director Compensation

24

EXECUTIVE COMPENSATION

26

COMPENSATION DISCUSSION AND ANALYSIS

26

EXECUTIVE SUMMARY

26

Performance Highlights

26

Compensation Highlights

27

Total Direct Compensation Objectives and Fiscal Year Changes

28

Other Compensation Elements

29

KEY ROLES AND PROCESSES FOR EXECUTIVE COMPENSATION DECISION-MAKING

29

Results of 2012 Say on Pay Proposal

30

Peer Group Selection and Market Data

30

Summary of Target Compensation for Named Executive Officers

31

CEO Evaluation Process

32

ELEMENTS OF EXECUTIVE COMPENSATION

32

Base Salary

32

Annual Performance-Based Cash Incentives

33

Long-Term Equity Incentive Compensation

38

Corporate Governance Policies

41

Change in Control Severance Plan and Enhancement Agreements

42

Officer Severance Plan

43

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Page

Retirement Plans and Benefits

43

Non-Qualified Executive Deferred Compensation Plan

44

Benefit Plans

44

Perquisites

44

Employment Agreements

44

Impact of Accounting and Tax Considerations

44

Compensation Committee Report

45

SUMMARY COMPENSATION TABLE

46

ALL OTHER COMPENSATION

47

GRANTS OF PLAN-BASED AWARDS TABLE

48

OUTSTANDING EQUITY AWARDS AT FISCAL YEAR-END TABLE

49

OPTION EXERCISES AND STOCK VESTED TABLE

52

PENSION BENEFITS TABLE

52

NON-QUALIFIED DEFERRED COMPENSATION

53

POTENTIAL PAYMENTS UPON A TERMINATION OR CHANGE IN CONTROL

54

REPORT OF THE AUDIT COMMITTEE

61

PROPOSAL 2—RATIFICATION OF APPOINTMENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTANTS

63

Fees Billed to the Company by Deloitte & Touche LLP During Fiscal Years Ended 2013 and 2012

63

Required Vote

64

RECOMMENDATION OF THE BOARD OF DIRECTORS

64

PROPOSAL 3—APPROVAL OF THE AMENDMENT AND RESTATEMENT OF THE COMPANY’S 2007 OMNIBUS AWARD PLAN

65

Description of the Amendment and Restatement

65

Omnibus Plan Annual Share Usage

66

Description of the 2007 Omnibus Award Plan

66

Certain U.S. Federal Income Tax Consequences

70

New 2007 Omnibus Award Plan Benefits

72

Required Vote

72

RECOMMENDATION OF THE BOARD OF DIRECTORS

73

Equity Compensation Plan Information

73

PROPOSAL 4—ADVISORY VOTE ON EXECUTIVE COMPENSATION (THE SAY ON PAY VOTE)

74

Required Vote

75

RECOMMENDATION OF THE BOARD OF DIRECTORS

75

OTHER MATTERS

76

SECTION 16(a) BENEFICIAL OWNERSHIP COMPLIANCE

76

REQUIREMENTS FOR SUBMISSION OF PROXY PROPOSALS, NOMINATION OF DIRECTORS AND OTHER BUSINESS OF STOCKHOLDERS

76

HOUSEHOLDING

77

ELECTRONIC DELIVERY OF FUTURE PROXY MATERIALS

77

APPENDIX A: AMENDED AND RESTATED 2007 OMNIBUS AWARD PLAN

A-1

-ii-


LOGO

1981 Marcus Avenue

Lake Success, New York 11042

NOTICE OF ANNUAL MEETING OF STOCKHOLDERS

To Be Held on November 14, 2013

Notice is hereby given that the 2013The 2014 Annual Meeting of Stockholders of Broadridge Financial Solutions, Inc., a Delaware corporation, will be held on Thursday, November 14, 2013,13, 2014, at 1010:00 a.m. Eastern Time. You can attend the 20132014 Annual Meeting online, vote your shares electronically and submit questions during the meeting, by visitingwww.virtualshareholdermeeting.com/br13.br14.Be sure to have your 12-Digit Control Numberthe control number we have provided to you to join the meeting. TheAt the meeting, stockholders will be held for the following purposes:asked to:

(1) to

elect nineeight directors to hold office until the 20142015 annual meeting of stockholders and until their successors are duly elected and qualified;qualified,

(2)

hold an advisory vote to approve the compensation of our Named Executive Officers (the Say on Pay Vote),

ratify the appointment of Deloitte & Touche LLP as the Company’sour independent registered public accountants for the fiscal year ending June 30, 2014;2015, and

(3) to approve the amendment and restatement of the Company’s 2007 Omnibus Award Plan;

(4) to hold an advisory vote on the Company’s executive compensation (the Say on Pay Vote); and

(5) to

transact such other business as may properly come before the meeting and any adjournment or postponement thereof.

Stockholders of record at the close of business on September 23, 2013,22, 2014, are entitled to notice of, and to vote at, the 20132014 Annual Meeting. Each stockholder is entitled to one vote for each share of common stock held at that time. A list of these stockholders will be open for examination by any stockholder for any purpose germane to the 20132014 Annual Meeting for a period of 10 days prior to the meeting at our principal executive offices at 1981 Marcus Avenue, Lake Success, New York 11042, and electronically during the 20132014 Annual Meeting atwww.virtualshareholdermeeting.com/br13br14when you enter the control number we have provided to you.

As permitted by the rules of the Securities and Exchange Commission, we are pleased to be furnishing our proxy materials to stockholders primarily over the Internet. We believe this process expedites stockholders’ receipt of the materials, lowers the costs of our annual meeting, and conserves natural resources. On or about October 3, 2014, we mailed our stockholders a Notice containing instructions on how to access our 2014 Proxy Statement and 2014 Annual Report and vote online. The Notice also included instructions on how you can receive a paper copy of the proxy materials. If you received your 12-Digit Control Number.proxy materials by mail, the 2014 Proxy Statement, 2014 Annual Report, and proxy card were enclosed. If you received your proxy materials via e-mail, the e-mail contained voting instructions and links to the 2014 Proxy Statement and 2014 Annual Report on the Internet.

You have three options for submittingWe encourage you to vote at your voteearliest convenience, by one of the following means before the 2013 Annual Meeting:

 

Internet, through computer or mobile device such as a tablet or smartphone;
By visitingwww.proxyvote.comon the Internet through your computer or mobile device,

 

Phone;By calling 1-800-690-6903, or

 

Mail.By signing, dating and returning your proxy card or voting instruction form if you received your proxy materials by mail

You may also vote during the Annual Meeting via the Internet by visitingwww.virtualshareholdermeeting.com/br14 and following the instructions. Please vote as soon as possible to record your vote promptly, even if you plan to attend the 20132014 Annual Meeting on the Internet.Meeting.

By Order of the Board of Directors,

Adam D. Amsterdam

Secretary

Lake Success, New York

October 4, 20133, 2014


Broadridge Financial Solutions, Inc.TABLE OF CONTENTS

1981 Marcus Avenue

Page

PROXY STATEMENT FOR ANNUAL MEETING OF STOCKHOLDERS

1

ABOUT THE ANNUAL MEETING AND THESE PROXY MATERIALS

1

PROPOSAL 1—ELECTION OF DIRECTORS

9

Nominee Qualifications

9

Information About the Nominees

10

Required Vote

14

RECOMMENDATION OF THE BOARD OF DIRECTORS

14

DIRECTOR COMPENSATION

15

Fiscal Year 2014 Non-Management Director Compensation

16

CORPORATE GOVERNANCE

18

The Board of Directors

18

Board Leadership Structure

18

Committees of the Board

19

Nomination Process

21

The Board’s Role in Risk Oversight

21

Communications with the Board of Directors

24

Code of Business Conduct and Code of Ethics

24

Website Access to Corporate Governance Documents

24

Certain Relationships and Related Transactions

24

Director Attendance at Annual Meetings

25

MANAGEMENT

25

Directors and Executive Officers

25

OWNERSHIP OF COMMON STOCK BY MANAGEMENT AND CERTAIN BENEFICIAL OWNERS

28

SECTION 16(a) BENEFICIAL OWNERSHIP COMPLIANCE

30

EQUITY COMPENSATION PLAN INFORMATION

30

PROPOSAL  2—ADVISORY VOTE TO APPROVE THE COMPENSATION OF OUR NAMED EXECUTIVE OFFICERS (SAY ON PAY VOTE)

31

Required Vote

33

RECOMMENDATION OF THE BOARD OF DIRECTORS

33

EXECUTIVE COMPENSATION

34

COMPENSATION DISCUSSION AND ANALYSIS

34

EXECUTIVE SUMMARY

34

Objectives of our Executive Compensation Program

34

2014 Financial Performance Highlights

34

2014 Compensation Highlights

35

Compensation Objectives and 2014 Compensation Actions

36

Summary of Target Compensation for Named Executive Officers

38

Strong Stockholder Support for our Compensation Programs

39

Governance and Compensation Policies and Practices

39

KEY ROLES AND PROCESSES FOR EXECUTIVE COMPENSATION DECISION-MAKING

40

Role of the Compensation Committee

40

Role of the Independent Consultant

41

Role of Management

41

Peer Group Selection and Market Data

41

CEO Evaluation Process

42

ELEMENTS OF EXECUTIVE COMPENSATION

42

Base Salary

42

Annual Performance-Based Cash Incentive Compensation

43

Lake Success, New York 11042

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Page

Long-Term Equity Incentive Compensation

49

Corporate Governance Policies

54

Change in Control Severance Plan

55

Officer Severance Plan

56

Special Officer Separation Agreement with Mr. Sheldon

56

Retirement Plans

56

Executive Retiree Health Insurance Plan

57

Non-Qualified Executive Deferred Compensation Plan

57

Benefit Plans

57

Perquisites

57

Employment Agreements

58

Impact of Accounting and Tax Considerations

59

Compensation Committee Report

59

SUMMARY COMPENSATION TABLE

60

ALL OTHER COMPENSATION

61

GRANTS OF PLAN-BASED AWARDS TABLE

62

OUTSTANDING EQUITY AWARDS AT FISCAL YEAR-END TABLE

64

OPTION EXERCISES AND STOCK VESTED TABLE

67

PENSION BENEFITS TABLE

68

NON-QUALIFIED DEFERRED COMPENSATION

70

POTENTIAL PAYMENTS UPON A TERMINATION OR CHANGE IN CONTROL

70

REPORT OF THE AUDIT COMMITTEE

79

PROPOSAL 3—RATIFICATION OF APPOINTMENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTANTS

80

FEES FOR SERVICES PROVIDED BY INDEPENDENT REGISTERED PUBLIC ACCOUNTANTS

80

Required Vote

81

RECOMMENDATION OF THE BOARD OF DIRECTORS

81

REQUIREMENTS FOR SUBMISSION OF PROXY PROPOSALS, NOMINATION OF DIRECTORS AND OTHER BUSINESS OF STOCKHOLDERS

82

-ii-


PROXY STATEMENT

FOR ANNUAL MEETING OF STOCKHOLDERS

To Be Held on November 14, 2013TO BE HELD ON NOVEMBER 13, 2014

This Proxy Statement is furnished to the stockholders of Broadridge Financial Solutions, Inc. (the “Company” or “Broadridge”) in connection with the solicitation of proxies by the Board of Directors of the Company (the “Board of Directors” or the “Board”) for use at the Annual Meeting of Stockholders of the Company to be held on November 14, 2013,13, 2014, at 1010:00 a.m. Eastern Time via the Internet atwww.virtualshareholdermeeting.com/br14(the “20132014 Annual Meeting” or the “Meeting”), for the purposes set forth in the accompanying Notice of Annual Meeting of Stockholders.

INTERNET AVAILABILITY OF

ABOUT THE ANNUAL MEETING AND THESE PROXY MATERIALS

Annual Meeting of Stockholders

      Time and Date

10:00 a.m. Eastern Time, November 13, 2014

      Attend Meeting via Internet

www.virtualshareholdermeeting.com/br14

      Record Date

September 22, 2014

      Voting

Stockholders as of the Record Date are entitled to vote. Each share of common stock is entitled to one vote for each Director nominee and one vote for each of the other proposals. There is no cumulative voting.

What matters will be voted on at the Annual Meeting?

The following matters will be voted on at the Annual Meeting:

    Proposal 1:To elect the directors nominated by our Board of Directors and named in this Proxy StatementPage 9
    Proposal 2:To hold an advisory vote to approve the compensation of our Named Executive Officers (the Say on Pay Vote)Page 31
    Proposal 3:To ratify the appointment of Deloitte & Touche LLP as our independent registered public accountants for the fiscal year ending June 30, 2015Page 80

    Such other business as may properly come before the Meeting and any adjournment or postponement thereof

We are makingdo not expect any other items of business to be brought before the Annual Meeting because the deadlines for stockholder proposals and director nominations have already passed. Nonetheless, in case there is an unforeseen need, your proxy gives discretionary authority to the persons named on the proxy card to vote your shares with respect to any other matters that might be brought before the Meeting. Those persons intend to vote the proxy in accordance with their best judgment.

When will the Annual Meeting take place?

The 2014 Annual Meeting of Stockholders will take place on Thursday, November 13, 2014, at 10:00 a.m. Eastern Time. The Annual Meeting will be a completely virtual meeting. You will be able to attend, vote, and submit questions during the Meeting via the Internet by visitingwww.virtualshareholdermeeting.com/br14.

How does the Board of Directors recommend that I vote?

FOR the election of the eight directors nominated by our Board of Directors and named in this Proxy Statement;

FOR the approval, on an advisory basis, of the compensation of our Named Executive Officers (the Say on Pay Vote); and

FOR the ratification of the appointment of Deloitte & Touche LLP as our independent registered public accountants for the fiscal year ending June 30, 2015.

Who may vote at the Annual Meeting?

Holders of our common stock at the close of business on September 22, 2014 (the “Record Date”) may vote at the Annual Meeting. We refer to the holders of our common stock as “stockholders” throughout this Proxy StatementStatement. Each stockholder is entitled to one vote for each share of common stock held as of the Record Date.

Stockholders at the close of business on the Record Date may examine a list of all stockholders as of the Record Date for any purpose germane to the Annual Meeting for 10 days preceding the Annual Meeting, at our offices in Lake Success, New York, and electronically during the Annual Meeting atwww.virtualshareholdermeeting.com/br14 when you enter the control number we have provided to you.

What is the difference between holding shares as a stockholder of record and as a beneficial owner?

Stockholders of Record.    You are a stockholder of record or registered stockholder if, at the close of business on the Record Date, your shares were registered directly in your name with Broadridge Corporate Issuer Solutions, Inc., our 2013 Annual Report to Stockholders fortransfer agent.

Beneficial Owner.    You are a beneficial owner, if at the fiscal year ended June 30, 2013 (the “2013 Annual Report”), including our Annual Reportclose of business on Form 10-K for the fiscal year ended June 30, 2013 with audited financial statements (the “2013 Form 10-K”), available toRecord Date, your shares were held by a brokerage firm or other nominee and not in your name. Being a beneficial owner means that, like most of our stockholders, primarily viayour shares are held in “street name.” As the Internet. On October 4, 2013, we mailedbeneficial owner, you have the right to our stockholders a Notice of Internet Availability containingdirect your broker or nominee how to vote your shares by following the voting instructions your broker or other nominee provides. If you do not provide your broker or nominee with instructions on how to access our proxy materials, including this Proxy Statement and the 2013 Annual Report. The Notice of Internet Availability also instructs you on how to accessvote your proxy card toshares, your broker or nominee will be able to vote through the Internet or by telephone. If you received a Notice of Internet Availability by mail, you will not receive a printed copyyour shares with respect to some of the proposals in this Proxy Statement, but not all. Please see the section titledWhat if I submit a proxy, materials inbut do not specify how my shares are to be voted? for additional information.

What do I need to do to attend the mail. Other stockholders, in accordance with their prior requests, have received e-mail notification of how to access our proxy materials and vote via the Internet, or have been mailed paper copies of our proxy materials and proxy card or vote instruction form.

Internet distribution of proxy materials is designed to expedite receipt by stockholders, lower the cost of theAnnual Meeting and conserve natural resources. However, if you received a Notice of Internet Availability by mail and would like to receive a printed copy of our proxy materials, please follow the instructions for requesting such materials contained on the Notice of Internet Availability. If you have previously elected to receive our proxy materials electronically, you will continue to receive these materials via e-mail unless you elect otherwise.

ATTENDING THE ANNUAL MEETINGInternet?

Broadridge will be hosting the 20132014 Annual Meeting live via the Internet. A summary of the information you need to attend the Meeting online is provided below:

 

 Any stockholder can attend the 20132014 Annual Meeting live via the Internet atwww.virtualshareholdermeeting.com/brbr1413

 

WebcastWe encourage you to access the Meeting online prior to its start time

The Meeting starts at 10:00 a.m. Eastern Time

 

Stockholders may vote and submit questions while attending the 20132014 Annual Meeting on the Internet

 

Please have your 12-Digit Control Numberthe control number we have provided to you to join the 20132014 Annual Meeting

 

 Instructions on how to attend and participate via the Internet, including how to demonstrate proof of stock ownership, are posted atwww.virtualshareholdermeeting.com/br13br14

 

Questions regarding how to attend and participate via the Internet will be answered by calling1-855-449-0991 on the day before the 20132014 Annual Meeting and the day of the Meeting

 

WebcastA replay of the 20132014 Annual Meeting will be available untilon our website through November 14,13, 2015

If I am unable to attend the Annual Meeting on the Internet, can I listen to the Annual Meeting by telephone?

Yes. Stockholders unable to access the Annual Meeting on the Internet will be able to call 1-888-437-2685 and listen to the Meeting if they provide their control number. Although stockholders accessing the Annual Meeting by the telephone will be able to listen to the Meeting and may ask questions during the Meeting, you will not be considered present at the Annual Meeting and will not be able to vote unless you also attend the Meeting via the Internet.

Why did I receive a Notice in the mail regarding the Internet Availability of Proxy Materials instead of a full set of printed proxy materials?

Under rules adopted by the Securities and Exchange Commission (the “SEC”), we are making this Proxy Statement available to our stockholders primarily via the Internet (“Notice and Access”). On or about October 3, 2014,

ABOUT THE 2013 ANNUAL MEETING

Voting Procedures

Stockholders we will mail the Notice regarding the Internet Availability of recordProxy Materials (the “Notice of Internet Availability”) to stockholders of our common stock at the close of business on September 23, 2013the Record Date, other than those stockholders who previously requested electronic or paper delivery of communications from us. The Notice contains instructions on how to access an electronic copy of our proxy materials, including this Proxy Statement and our 2014 annual report to stockholders (the “Record DateAnnual Report”),. The Notice also contains instructions on how to request a paper copy of the proxy materials. We believe that this process will allow us to provide you with the information you need in a timely manner, while conserving natural resources and lowering the costs of printing and distributing our proxy materials.

Can I vote my shares by filling out and returning the Notice regarding the Internet Availability of Proxy Materials?

No. The Notice of Internet Availability only identifies the items to be voted on at the Annual Meeting. You cannot vote by marking the Notice and returning it. The Notice provides instructions on how to cast your vote. For additional information, please see the section titledHow do I vote my shares and what are the voting deadlines?

Why didn’t I receive a Notice in the mail regarding the Internet Availability of the Proxy Materials?

We are providing some of our stockholders, including stockholders who have previously asked to receive paper copies of the proxy materials, with paper copies of the proxy materials instead of a Notice of Internet Availability. In addition, we are providing the proxy materials by e-mail to those stockholders who have previously elected delivery of the proxy materials electronically. Those stockholders should have received an e-mail containing a link to the website where those materials are available and a link to the proxy voting website.

Can I choose to receive future proxy materials by e-mail?

Yes. If you receive your proxy materials by mail, we encourage you to elect to receive future copies of proxy statements and annual reports by e-mail. To enroll in the online program, go to https://enroll.icsdelivery.com/br and follow the enrollment instructions that apply depending on whether you are a stockholder of record (or registered stockholder) or beneficial owner of Broadridge stock. Upon completion of enrollment, you will receive an e-mail confirming the election to use the electronic delivery services. The enrollment in the online program will remain in effect for as long as your account is active or until enrollment is cancelled. Enrolling to receive proxy materials online will save Broadridge the cost of printing and mailing documents, as well as help preserve our natural resources.

How do I vote my shares and what are the voting deadlines?

Stockholders of Record.  If you are a stockholder of record, there are several ways for you to vote your shares:

By Internet Before the Meeting Date:Go towww.proxyvote.com and vote until 11:59 p.m. Eastern Time the day before the meeting date. Have your proxy card in hand when you access the website and follow the instructions on the website.

By Telephone:Call 1-800-690-6903 to vote by telephone until 11:59 p.m. Eastern Time the day before the meeting date. Have your proxy card in hand when you call and then follow the instructions.

By Mail:If you received paper copies in the mail of the proxy materials and proxy card, mark, sign and date your proxy card and return it in the postage-paid envelope we have provided.

By Internet During the Annual Meeting:You may attend the Annual Meeting on Thursday, November 13, 2014, at 10:00 a.m. Eastern Time via the Internet atwww.virtualshareholdermeeting.com/br14 and vote during the Annual Meeting using the control number we have provided to you.

Even if you plan to attend the Annual Meeting, we recommend that you also submit your proxy card or vote by Internet or telephone by the applicable deadline so that your vote will be entitledcounted if you later decide not to attend the Meeting.

Beneficial Owners.  If you are a beneficial owner of your shares, you should have received a Notice of Internet Availability or voting instructions from the broker or other nominee holding your shares. You should follow the instructions in the Notice or the voting instructions provided by your broker or nominee in order to instruct your broker or nominee on how to vote your shares. Notice and Access delivery of the proxy materials, and Internet and/or telephone voting, also will be offered to stockholders owning shares through most banks and brokers.

You may also attend the Annual Meeting on Thursday, November 13, 2014, at 10:00 a.m. Eastern Time via the Internet atwww.virtualshareholdermeeting.com/br14 and vote during the Annual Meeting.

Can I revoke or change my vote after I submit my proxy?

Stockholders of Record.  If you are a stockholder of record, you may revoke your vote at any time before the final vote at the Meeting. OnAnnual Meeting by:

Signing and returning a new proxy card with a later date;

Submitting a later-dated vote by telephone or the Internet atwww.proxyvote.com, since only your latest telephone or Internet vote received by 11:59 p.m. Eastern Time on November 12, 2014 will be counted;

Delivering a timely written revocation to our Corporate Secretary at 1981 Marcus Avenue, Lake Success, NY 11042, before the Record Date, there were outstandingAnnual Meeting; or

Attending the Annual Meeting via the Internet atwww.virtualshareholdermeeting.com/br14 and vote again.

Beneficial Owners.  If you are a beneficial owner of your shares, you must contact the broker or other nominee holding your shares and entitledfollow its instructions for changing your vote. Alternatively, you may attend the Annual Meeting via the Internet atwww.virtualshareholdermeeting.com/br14 and vote again.

What will happen if I do not vote my shares?

Stockholders of Record.  If you are the stockholder of record of your shares and you do not vote by telephone or mail, or via the Internet before or during the Annual Meeting, your shares will not be voted at the Annual Meeting.

Beneficial Owners.  If you are the beneficial owner of your shares and you do not instruct your broker or other nominee how to vote 119,042,192your shares, (excluding 35,418,935 treasury sharesyour broker or nominee may exercise its discretion to vote on some proposals at the Annual Meeting, but not entitled to vote)all. Under the rules of the Company’s common stockNew York Stock Exchange (the “Company SharesNYSE”), your broker or the “Common Stock”). The holders of a majority of the Company Shares issued and outstanding and entitlednominee does not have discretion to vote atyour shares on non-routine matters such as Proposals 1 and 2. However, your broker or nominee does have discretion to vote your shares on routine matters such as Proposal 3.

What if I submit a proxy, but do not specify how my shares are to be voted?

Stockholders of Record. If you are a stockholder of record and you submit a proxy card, but you do not provide voting instructions on the Meeting, present in person or represented by proxy, will constitute a quorum. The persons whom the Company appoints to act as independent inspectors of election will treat all Company Shares represented by a returned, properly executed proxy as present for purposes of determining the existence of a quorum at the Meeting. Each of the Company Shares will entitle the holder to one vote. Cumulative voting is not permitted. Votes cast during the Meetingcard, your shares will be counted by the independent inspectors of election.voted:

FOR the election of the eight directors nominated by our Board of Directors and named in this Proxy Statement;

FOR the approval, on an advisory basis, of the compensation of our Named Executive Officers (Say on Pay Vote);

FOR the ratification of the appointment of Deloitte & Touche LLP as our independent registered public accountants for the fiscal year ending June 30, 2015; and

In the discretion of the named proxies regarding any other matters properly presented for a vote at the Annual Meeting.

Beneficial Owners.  If you are a beneficial owner and hold your shares in the name of a bank, broker or other holder of record andyou do not return the voting instruction card,provide the broker or other nominee that holds your shares with voting instructions, the broker or nominee will determine if it has the discretionary authority to vote on your behalf. Under the NYSE’s rules, brokers and nominees have the discretion to vote on routine matters such as Proposal 3, but do not have discretion to vote on non-routine matters such as Proposals 1 and 2. Therefore, if you do not provide voting instructions to your broker or nominee, your broker or nominee may only vote your shares only on each matterProposal 3 and any other routine matters properly presented for a vote at the 2013 Annual MeetingMeeting.

What is the effect of a broker non-vote?

Brokers or other nominees who hold shares of our common stock for which he or she hasabeneficial owner have the requisite discretionary authority. If a stockholder does not give instructions to its broker as to howdiscretion to vote on routine proposals when they have not received voting instructions from the shares,beneficial owner at least 10 days prior to the Annual Meeting. A broker has authority under the New York Stock Exchange (“NYSE”) rules to vote those shares for or against “routine” proposals such as the ratification of the appointment of Deloitte & Touche LLP as the Company’s registered public accountants. Brokers cannot vote on their customers’ behalf on “non-routine” proposals, which include the election of directors in the case of annual meetings, the proposal to amend and restate the 2007 Omnibus Award Plan, and the advisory vote on the Company’s executive compensation. Ifnon-vote occurs when a broker votes shares that are unvoted by its customers on a “routine” proposal, these shares are counted for the purpose of establishing a quorum and also will be counted for the purpose of determining the outcome of “routine” proposals. If a brokeror other nominee does not receive voting instructions asfrom the beneficial owner and does not have the discretion to a non-routine proposal, a “broker non-vote” occurs and those sharesdirect the voting of the shares.

Broker non-votes will be counted for the purposepurposes of establishing a quorum, but not for determining the outcome of those proposals.

Abstentions will be included in determiningcalculating whether a quorum is present. However, they arepresent at the Annual Meeting, but will not be counted as “votes cast”votes cast at the Meeting. Therefore, a broker non-vote will not impact our ability to obtain a quorum and will not otherwise affect the outcome of the vote on any matter.of the proposals to be considered at the Annual Meeting.

Proposal 1—ElectionHow many shares must be present or represented to conduct business at the Annual Meeting?

We need a quorum of Directors

In the election of directors, director nominees must receivestockholders to hold our Annual Meeting. A quorum exists when at least a majority of the votes castoutstanding shares entitled to vote at the close of business on the Record Date is represented at the Annual Meeting either in person or by proxy. On September 22, 2014, there were119,961,983 shares of common stock outstanding and entitled to vote (excluding34,499,144 treasury shares not entitled to vote).

Your shares will be counted towards the quorum if you vote by mail, by telephone, or via the Internet either before or during the Annual Meeting. Abstentions and broker non-votes also will count towards the quorum requirement. If a quorum is not met, a majority of the shares present at the Annual Meeting may adjourn the Meeting to be elected. This means that a director nominee will be electedlater date.

What vote is required to the Board only if the number of votes cast FOR the nominee’s election exceeds the number of votes cast AGAINST the nominee’s election. approve each proposal?

Proposal

Vote Required

Broker Discretionary

Voting Allowed

1 –   Election of eight directors

Majority of the Votes Cast for

each Director Nominee (the number of votes cast FOR the nominee’s election exceeds the number of votes cast AGAINST the nominee’s election)

No

2 –   Approval, on an advisory basis, of the compensation of our Named Executive Officers

Majority of the Votes Cast

No

3 –   Ratification of the appointment of Deloitte & Touche LLP as our independent registered public accountants for the fiscal year ending June 30, 2015

Majority of the Votes Cast

Yes

With respect to the election of directors, votesall Proposals, you may be castvote FOR, specifically identified nomineesAGAINST or AGAINST specifically identified nominees, or a stockholder may abstain from voting for a nominee.

Proposal 2—Ratification of Auditors

The ratification of the appointment of Deloitte & Touche LLP, an independent registered public accounting firm, as the Company’s independent registered public accountants requires the affirmative vote of a majority of votes cast at the Meeting. Votes may be cast FOR or AGAINST the proposal, or a stockholder may abstainABSTAIN. If you ABSTAIN from voting on the proposal.

Proposal 3—Amendment and Restatementany of the 2007 Omnibus Award Plan

The approvalProposals, the vote is not considered cast and, as a result, it will have no effect on the outcome of the amendment and restatement of the Company’s 2007 Omnibus Award Plan, as disclosed in this Proxy Statement, requires the affirmative vote of a majority of votes cast at the Meeting. Votes may be cast FOR or AGAINST the proposal, or a stockholder may abstain from voting on the proposal.

Proposal 4—Advisory Vote on Executive Compensation (the Say on Pay Vote)

The approval of the annual non-binding advisory vote on executive compensation, as disclosedany matter.

Can I confirm that my vote was cast in this Proxy Statement, requires the affirmative voteaccordance with my instructions?

Stockholders of a majority of votes cast at the Meeting. Votes may be cast FOR or AGAINST the proposal, or a stockholder may abstain from voting on the proposal.

The Board of Directors is soliciting your proxy to provide you with an opportunity to vote on all matters to come before the Meeting, whether or not you attend. You can ensure that your shares are voted at the Meeting by submitting your vote instructions by telephone or by the Internet, or by completing, signing, and dating a proxy card. Submitting your instructions or proxy by any of these methods will not affect your ability to attend and vote during the Meeting atwww.virtualshareholdermeeting.com/br13Record.

A stockholder who gives a proxy may revoke it at any time before it is exercised by voting at the Meeting via the Internet, delivering a subsequent proxy or by notifying the Secretary of the Company in writing at any time before your original proxy is voted at the Meeting.

The Board of Directors urges you to vote, and solicits your proxy, as follows:

(1)FOR the election of all nominees for membership on the Company’s Board of Directors to serve until the annual meeting of Our stockholders in the year 2014 and until their successors are duly elected and qualified;

(2)FOR the ratification of the appointment of Deloitte & Touche LLP as the Company’s independent registered public accountants for the fiscal year ending June 30, 2014;

(3)FOR the approval of the amendment and restatement of the Company’s 2007 Omnibus Award Plan;

(4)FOR the advisory vote on executive compensation (the Say on Pay Vote); and

(5) to transact such other business as may properly come before the 2013 Annual Meeting and any adjournment or postponement thereof.

Vote Confirmation

We are offering our stockholdershave the opportunity to confirm that their vote was cast in accordance with their instructions. Vote confirmation is consistent with our commitment to sound corporate governance standards and an important means to increase transparency. Vote confirmation is available 24 hours after your vote is received beginning on October 30, 2013,29, 2014, with the final vote tabulation available through January 14, 2014.13, 2015. You may confirm your vote whether it was cast by proxy card, electronically or telephonically. To obtain vote confirmation, log ontowww.proxyvote.com using your 12-Digit Control Number (included on your notice, on your proxy card, or in the instructions that accompanied your proxy materials)control number we have provided to you and receive confirmation on how your vote was cast.

Beneficial Owners.   If you hold your shares through a bank or brokerage account, the ability to confirm your vote may be affected by the rules of your bank or broker and the confirmation will not confirm whether your bank or broker allocated the correct number of shares to you.

Proxy SolicitationWhat is householding?

To reduce the expense of delivering duplicate proxy materials to stockholders who may have more than one account holding Broadridge stock but sharing the same address, we have adopted a procedure approved by the SEC called “householding.” Under this procedure, certainstockholders of record who have the same address and last name, and who do not participate in electronic delivery of proxy materials, will receive only one copy of our Notice of Internet Availability and, as applicable, any additional proxy materials that are delivered until such time as one or more of these stockholders notifies us that they want to receive separate copies. Stockholders who participate in householding will continue to have access to and utilize separate proxy voting instructions.

If you are astockholder of record and would like to have separate copies of the Notice of Internet Availability or proxy materials mailed to you in the future, you must submit a request to opt out of householding in writing to Broadridge Financial Solutions, Inc., Householding Department, 51 Mercedes Way, Edgewood, New York 11717 or call Broadridge at 1-800-542-1061, and we will cease householding all such documents within 30 days.

If you are abeneficial owner, information regarding householding of proxy materials should have been forwarded to you by your bank or broker.

However, please note that if you want to receive a paper proxy card or vote instruction form or other proxy materials for purposes of the 2014 Annual Meeting, you should follow the instructions included in the Notice of Internet Availability that was sent to you.

Who will count the votes?

We have retained independent inspectors of election who will count the shares voted including shares voted during the Annual Meeting and will certify the election results.

What happens if the Annual Meeting is adjourned or postponed?

Your proxy will still be effective and will be voted at the rescheduled or adjourned Annual Meeting. You will still be able to change or revoke your proxy until the rescheduled or adjourned Annual Meeting.

Who is paying for the costs of this proxy solicitation?

Your proxy is being solicited by and on behalf of the Board of Directors of the Company. The expense of preparing, printing and providing this proxy solicitation will be borne by the Company. The Company may retain D.F. King & Co. to assist with the solicitation of proxies for a fee estimated not to exceed $20,000 plus reimbursement of reasonable out-of-pocket expenses. CertainAlso, certain directors, officers, representatives and employees of the Company may solicit proxies by telephone and personal interview. Such individuals will not receive additional compensation from the Company for solicitation of proxies, but may be reimbursed by the Company for reasonable out-of-pocket expenses in connection with such solicitation. In accordance with the regulations of the Securities and Exchange Commission (the“SEC”),SEC, banks, brokers and other custodians, nominees and fiduciaries also will be reimbursed by the Company, as necessary, for their reasonable expenses for sending proxy solicitation materials to the beneficial owners of Common Stock.common stock.

Copies of the proxy materials will be supplied to brokers and other nominees for the purpose of soliciting proxies frombeneficial owners, and we will reimburse such brokers or other nominees for their reasonable expenses.

How can I find the results of the Annual Meeting?

Preliminary results will be announced at the Annual Meeting. Final results will be published in a current report on Form 8-K to be filed with the SEC within four business days after the Annual Meeting. If the official results are not available at that time, we will provide preliminary voting results in the Form 8-K and will provide the final results in an amendment to the Form 8-K as soon as they become available.

PROPOSAL 1—ELECTION OF DIRECTORS

At the 20132014 Annual Meeting, nineeight directors are to be elected, each of whom will serve until the 20142015 annual meeting of stockholders and until their respective successors are duly elected and qualified. The persons designated as the Company’s proxies intend to vote FOR the election of each of the nine nominees listed below, unless otherwise directed.

The Board has nominated and the proxies will vote to elect, the following individuals as members of the Board of Directors to serve for a period of one year and until their respective successors are duly elected and qualified: Leslie A. Brun, Richard J. Daly, Robert N. Duelks, Richard J. Haviland, Sandra S. Jaffee, Stuart R. Levine, Maura A. Markus, Thomas J. Perna, and Alan J. Weber. Ms. Markus

Each of the nominees currently serves on the Board and was elected toby the Board on March 1, 2013. Each director is standing for reelection to the Boardstockholders at the 2013 Annual Meeting. Each nominee has consentedDue to be nominated andan age limitation for election to serve, if elected.

Nominee Qualifications

Underthe Board provided in the Company’s Corporate Governance Principles (the “Corporate Governance Principles”), Sandra S. Jaffee is not standing for re-election and will be rotating off the Board when her term expires following the 2014 Annual Meeting. Each nominee has consented to be nominated and to serve, if elected.

Nominee Qualifications

Under the Company’s Corporate Governance Principles, a majority of the Board must be comprised of directors who are independent under the rules of the NYSE. Under the rules of the NYSE, the Board is required to affirmatively determine which directors are independent and to disclose such determination for each annual meeting of stockholders. No director will be deemed to be independent unless the Board affirmatively determines that the director has no material relationship with the Company, either directly or as an officer, stockholder or partner of an organization that has a relationship with the Company. In its review of director independence, the Board of Directors considers all relevant facts and circumstances, including without limitation, all commercial, banking, consulting, legal, accounting, charitable or other business relationships any director may have with the Company in conjunction with the Corporate Governance Principles and Section 303A of the NYSE’s Listed Company Manual (the “NYSE Listing Standards”). A copy of our Corporate Governance Principles is available on our corporate website atwww.broadridge.com under the heading “Investor Relations—Corporate Governance.” A copy of our Corporate Governance Principles is also available to stockholders upon request, addressed to the Secretary, Broadridge Financial Solutions, Inc., 1981 Marcus Avenue, Lake Success, New York 11042.

On August 1, 2013,6, 2014, the Board reviewed each director’s relationship with us and affirmatively determined that all of the directors, other than Mr. Brun, Mr. Duelks, Mr. Haviland, Ms. Jaffee, Mr. Levine, Ms. Markus, Mr. Perna, and Mr. WeberDaly, are independent directors under the NYSE Listing Standards. Mr. Daly was determined to be not independent because he is our President and Chief Executive Officer.

Broadridge is a leading global provider of investor communications and technology-driven solutions to the financial services industry. Our systems and services include investor communication solutions, and securities processing and business process outsourcing services. With over 50 years of experience, we provide financial services firms with advanced, dependable, scalable and cost-effective integrated systems. We serve a large and diverse client base in the financial services industry including retail and institutional brokerage firms, global banks, mutual funds, annuity companies, institutional investors, specialty trading firms, clearing firms, third party administrators, hedge funds, and hedge funds.financial advisors. We also provide services to corporate issuers.

The Governance and Nominating Committee seeks directors with established strong professional reputations and experience in areas relevant to the strategy and operations of the Company’s businesses, particularly industries that Broadridge serves. Our directors’ skills, expertise, background and experiences encompass the areas of banking and financial services, information processing services, technology services, or as a provider of services to the financial services industry, all of which are areas important to our Company’s businesses and strategy.

The biographies of the director nominees are set forth below. They contain information regarding the individual’s service as a director of the Company, business experience, director positions held currently or any time in the past five years, and the experiences, qualifications, attributes or skills that caused the Board to determine that

such individual should serve as a director of the Company. Each of the nominees for election as a

director at the 20132014 Annual Meeting holds or has held senior executive positions in large, complex organizations, and most hold or have held the role of chief executive officer. This experience demonstrates their ability to perform at the highest levels. In these positions, they have gained experience in core business skills, such as strategic and financial planning, public company financial reporting, compliance, risk management and leadership development. This experience enables them to provide sound judgment concerning the issues facing a large corporation in today’s environment, provide oversight of these areas at the Company and evaluate our performance.

The Governance and Nominating Committee also believes that each of the nominees has other key attributes that are important to an effective board: wisdom, integrity, an understanding and general acceptance of the Company’s corporate philosophy, valid business or professional knowledge and experience, a proven record of accomplishment with excellent organizations, an inquiring mind, a willingness to speak one’s mind, an ability to challenge and stimulate management, and a willingness to commit time and energy. The Governance and Nominating Committee takes diversity into account in determining the Company’s slate of nominees and believes that, as a group, the directors bring a diverse range of perspectives to the Board’s deliberations.

In addition to the above, the Governance and Nominating Committee also considered the specific experience described in the biographical details that follow in determining to nominate the individuals set forth below for election as directors. For more information on the process undertaken by the Governance and Nominating Committee in recommending qualified director candidates to the Board, see the “Corporate Governance—Committees of the Board—The Governance and Nominating Committee” section of this Proxy Statement.

Information About the Nominees

 

LOGO   

Leslie A. Brun, age 61,62, has served as Chairman of the Board since 2011 and has been a member of our Board of Directors since 2007.

 

Independent Chairman

 

Mr. Brun has been the Chairman and Chief Executive Officer of SARR Group, LLC, an investment holding company that manages his family investments, since 2006. Additionally, since 2011,In addition, he has served as awas formerly Managing Director and head of Investor Relations at CCMP Capital, a global private equity firm. He is also the founder and was Chairman Emeritus of Hamilton Lane, a provider of asset management services for which he served as Chief Executive Officer and Chairman from 1991 until 2005. From 1988 to 1991, he was Managing Director and co-founder of the investment banking group of Fidelity Bank in Philadelphia. Mr. Brun has served as a director of Automatic Data Processing, Inc. (“ADP”), a provider of business outsourcing solutions and our former parent company, since 2003, and as ADP’s Chairman of the Board since 2007. He has served as a director of Merck & Co., Inc., a health care company, since 2009, and chairs the audit committee.2009. He is also a director of NXT Capital, Inc., a private company. Mr. Brun was elected to the Board of Trustees of Widener University in 2014, and is a former trustee of the University at Buffalo Foundation, Inc. and a former trustee of The Episcopal Academy in Merion, Pennsylvania.

Specific experience, qualifications, attributes or skills:

 

Extensive finance, management, investment banking, commercial banking, and financial advisory experience

 

Operating and management experience, including as chief executive officer of an investment holding company

 

Public company directorship and committee experience

 

 

LOGO    

Richard J. Daly, age 60,61, is our President and Chief Executive Officer and has been a member of our Board of Directors since 2007. The Broadridge Board has appointed Mr. Daly as President of Broadridge effective January 1, 2014.

Management

 

In addition to serving as our Chief Executive Officer, a role he has held since we became an independent company in 2007, Mr. Daly was appointed President of Broadridge in 2014. Prior to the March 2007 spin-off of Broadridge from ADP, Mr. Daly served as Group President of the Brokerage Services Group of ADP, as a member of the Executive Committee and a Corporate Officer of ADP since June 1996. In his role as President, he shared the responsibility of running the Brokerage Services Group with John Hogan and was directly responsible for our Investor Communication Solutions business. Mr. Daly joined ADP in 1989, as Senior Vice President of the Brokerage Services Group, following the acquisition by ADP of the proxy services business he founded. Mr. Daly is a member of the board of The ADT Corporation, a public company, and is a member of the Advisory Board of the National Association of Corporate Directors (the “NACD”).

Specific experience, qualifications, attributes or skills:

 

Chief Executive Officer’s unique perspective and insights into the Company, including its businesses, relationships, competitive and financial positioning, senior leadership and strategic opportunities and challenges

 

Operating, business and management experience at a major global company as president of the Company’s predecessor business

 

Founder of the Investor Communication Solutions business, the Company’s largest business

 

Public company directorship and committee experience

Core business skills

 

 

 

LOGO   

Robert N. Duelks, age 58,59, is a member of the Audit Committee and the Governance and NominatingCompensation Committee. Mr. Duelks has been a member of our Board of Directors since 2009.

 

Independent Director

 

Mr. Duelks served for 27 years in various capacities at Accenture plc. Throughout his tenure at Accenture, Mr. Duelks held multiple roles and had responsibilities including and ranging from local client service, regional operations management to management of global offerings. While at Accenture, he served on multiple leadership committees including the Board of Partners, the Management Committee and the Executive and Operating Committee for the Global Financial Services Operating Group. Mr. Duelks also serves as an advisor to the senior executives of Tree Zero, a manufacturer of 100% tree free paper products. He is the former Chairman and a current member of the Board of Trustees of Gettysburg College, and previously served as a member of the Advisory Board for the Business School at Rutgers University.

Specific experience, qualifications, attributes or skills:

 

Extensive experience in the management and operation of a technology and consulting services business

 

Core business skills

 

 

LOGO   

Richard J. Haviland, age 67,68, is the chairChair and a member of the Audit Committee and a member of the Governance and Nominating Committee. He has been a member of our Board of Directors since 2007.

 

Independent Director

 

Mr. Haviland served for 20 years in various executive and financial positions at ADP, most recently as its Chief Financial Officer and a member of its Executive Committee, retiring from ADP in 2001. His experience prior to ADP includes 11 years in the auditing and assurance practice of Touche Ross & Co., a predecessor firm of Deloitte & Touche LLP, a public accounting firm. Mr. Haviland is a former director of Bisys Group, Inc., a provider of outsourcing services to the financial services industry, where he served from 2004 until it was acquired in 2007.

Specific experience, qualifications, attributes or skills:

 

Significant experience in all areas of public company financial management, including as chief financial officer of a major global company

 

Expertise in finance, financial reporting, compliance and controls

 

Experience in an information processing services business

 

Public company directorship and committee experience

 

 

 

LOGO  

Sandra S. Jaffee, age 71, is a member of the Audit Committee and the Compensation Committee. She has been a member of our Board of Directors since 2010.

Independent

Ms. Jaffee served as Chief Executive Officer of Fortent Inc., a provider of risk and anti-money laundering compliance solutions to global financial services firms from 2005 to 2009, and as Fortent’s Chairman of the Board from 2008 to 2009. Ms. Jaffee joined Warburg Pincus, the private equity firm, in 2004 as Entrepreneur in Residence, where she participated in investment activities focused on the media and business services sectors. Previously, Ms. Jaffee spent approximately 23 years in various executive positions at Citigroup Inc. including, from 1995 to 2003, as President and Chief Executive Officer of Citibank’s Global Securities Services division where she was responsible for the bank’s securities processing and transaction businesses; serving global issuers, intermediaries, and investors. During her tenure at Citigroup, Ms. Jaffee was also responsible for relationship management and client coverage for Citigroup’s Financial Institutions in Global Transaction Services. Ms. Jaffee is currently on the board of The Hartford Mutual Funds, a subsidiary of the Hartford Financial Services Group, Inc., and serves as a Trustee of Muhlenberg College in Allentown, Pennsylvania. Ms. Jaffee was a member of the Supervisory Board of Deutsche Borse AG, operator of the Frankfurt Stock Exchange, a German public company, from 2003 to 2004. She was a member of the board of Institutional Shareholder Services Inc. (“ISS”), a private corporate governance company, from 1994 until ISS was acquired by RiskMetrics Group, Inc. (“RiskMetrics”) in 2007. RiskMetrics was acquired by MSCI, Inc. in 2010.

Specific experience, qualifications, attributes or skills:

Operating and management experience, including as chief executive officer of a provider of technology solutions to the financial services industry

Extensive experience in the financial services industry, including operating the securities processing division of a large, global bank

LOGO    

Stuart R. Levine, age 66,67, is the chairChair and a member of the Governance and Nominating Committee and a member of the CompensationAudit Committee. He has been a member of our Board of Directors since 2007.

 

Independent Director

 

Mr. Levine is the founder, Chairman and Chief Executive Officer of Stuart Levine and Associates LLC, an international management consulting and leadership development company. He serves on the board of SingleTouch Systems Inc., a mobile media solutions provider, and is the Lead Director of J. D’Addario & Company, Inc., a private manufacturer of musical instrument accessories. Heaccessories, and also serves on the board of North Shore-Long Island Jewish Health System. In addition, Mr. Levine is the bestselling author of “The Leader in You” (Simon & Schuster 2004), “The Six Fundamentals of Success” (Doubleday 2004) and “Cut to the Chase” (Doubleday 2007). In 2011, Mr. Levine was recognized as one of the top 100 directors in the United States by the NACD and was designated as one of 17 Governance Fellows by the NACD as a Board Leadership Fellow. He is the former Lead Director of Gentiva Health Services, Inc., a provider of home healthcare services, where he served from 2000 to 2009. He also served as a director of European American Bank from 1995 to 2001 and The Olsten Corporation, a provider of staffing solutions, from 1994 to 2000. From 1992 to 1996, he was Chief Executive Officer of Dale Carnegie & Associates, Inc., a provider of leadership, communication and sales skills training. Mr. Levine is a former Chairman of Dowling College as well as a former Member of the New York State Assembly.

Specific experience, qualifications, attributes or skills:

 

Operating and management experience, including as chief executive officer of a global client services business

 

Public company directorship and committee experience

 

Frequent panel chair and participant in director education programs sponsored by the NACD

 

 

LOGO   

Maura A. Markus, age 55, was elected to56, is a member of the Audit Committee and the Compensation Committee. She has been a member of our Board of Directors in Marchsince 2013.

 

Independent Director

Ms. Markus is currently the former President and Chief Operating Officer of Bank of the West, a positionrole she has held since March 2010.from 2010 through 2014. She is also a former member of the Board of Directors of Bank of the West and BancWest Corporation, and of the Bank'sBank’s Executive Management Committee. Before joining Bank of the West, Ms. Markus was a 22-year veteran of Citigroup, having most recently served as Head of International Retail Banking in Citi'sCiti’s Global Consumer Group. During her tenure at Citigroup, sheShe held a number of additional domestic and international management positions including President, of Citibank North America from 2000 to 2007 and2007. In this position, she also served as Chairman of Citibank West. Ms. Markus also served as Citi'sCiti’s European Sales and Marketing Director in Brussels, Belgium, and as President of Citi'sCiti’s consumer business in Greece. Ms. Markus is a member of The Financial Services Roundtable. Among her numerous community interests, she is a board member of Catholic Charities CYO of San Francisco.Francisco, and is a member of Year Up Bay Area’s Talent and Opportunity Board.

Specific experience, qualifications, attributes or skills:

 

Operating and management experience, including as chief operating officer of a large financial services company

 

Extensive experience in the financial services industry, including as a senior executive of a major global financial institution

 

 

LOGO   

Thomas J. Perna, age 62,63, is a member of the Audit Committee and the CompensationGovernance and Nominating Committee. He has been a member of our Board of Directors since 2009.

 

Independent Director

 

Mr. Perna is the former Chairman and former Chief Executive Officer of Quadriserv, Inc., a company that provides technology products for the securities lending industry. Prior to joining Quadriserv, Inc. in 2005, Mr. Perna served as Senior Executive Vice President of The Bank of New York, now known as The Bank of New York Mellon, in its Financial Institutions Banking, Asset Servicing and Broker Dealer Services sectors. HeIn this role, he was responsible for over 6,000 employees globally. Mr. Perna joined The Bank of New York in 1986. In May 2012, Mr. Perna was elected as Chairman of the Board of Trustees of the Pioneer Mutual Fund Group. Prior to his appointment as Chairman, he served as a member of the Board of Trustees of the Funds from 2006, overseeing 57 open-end and closed-end investment companies in a mutual fund complex since 2006.complex. Mr. Perna also serves as a Commissioner on the New Jersey Civil Service Commission, a position he has held since March 2011, and is a member of a number of banking and securities industry associations. Mr. Perna previously served on the Board of Directors of the Depository Trust & Clearing Corporation (DTCC), Euroclear Bank S.A., Euroclear Clearance System PLC and Omgeo PLC.

Specific experience, qualifications, attributes or skills:

 

Operating and management experience, including as chief executive officer of a provider of technology products to the securities industry

 

Experience in management of a global financial services firm

 

Core business skills

 

 

LOGO   

Alan J. Weber, age 64,65, is the chairChair and a member of the Compensation Committee and a member of the Audit Committee. He has been a member of our Board of Directors since 2007.

 

Independent Director

 

Mr. Weber is the Chief Executive Officer of Weber Group LLC, a private investment firm. Mr. Weber retired as Chairman and Chief Executive Officer of U.S. Trust Corporation and as a member of the executive committee of the Charles Schwab Corporation in 2005. Previously, he was the Vice Chairman and Chief Financial Officer of Aetna Inc., where he was responsible for corporate strategy, capital management, information technology, investor relationse-business and financial operations. He also held a number of senior level positions at Citibank N.A., where he worked from 1971 to 1998, including as Chairman of Citibank International and Executive Vice President of Citibank. During his tenure at Citibank, Mr. Weber oversaw operations in approximately 30 countries, including assignments in Japan, Italy and Latin America. Mr. Weber has served as a director of Diebold, Incorporated,Inc., a provider of self-service delivery and security systems and services, since 2005,2005; and was elected to the boardhe has served as a director of SandRidge Energy, Inc., an energy exploration and production company, in Marchsince 2013. He is also serves on the boards of OnForce, Inc., KGS-Alpha Capital Markets, Inc. and KGS-Alpha, Inc., bothStreet Diligence, Inc, all of which are private companies. Mr. Weber is currently an Operating Partner at Arsenal Capital, Inc., a private equity firm, and he serves as a member of the board of DCTV, a New York based charitable organization.

Specific experience, qualifications, attributes or skills:

 

Operating and management experience, including as chief executive officer and chief financial officer of global financial services firms

 

Expertise in finance, financial reporting, compliance and controls

 

Experience in financial services and information technology businesses

 

Public company directorship and committee experience

 

 

Required Vote

Each director nominee receiving a majority of the votes cast at the 20132014 Annual Meeting, in person or by proxy, and entitled to vote in the election of directors, will be elected; provided that a quorum is present. Abstentions and broker non-votes will be included in determining whether there is a quorum. In determining whether such nominees have received the requisite number of affirmative votes, abstentions will have no effect on the outcome of the vote. Pursuant to NYSE regulations, brokers do not have discretionary voting power with respect to this proposal, and broker non-votes will have no effect on the outcome of the vote.

RECOMMENDATION OF THE BOARD OF DIRECTORS

THE BOARD OF DIRECTORS RECOMMENDS THAT YOU VOTE “FOR” THE ELECTION OF

ALL NOMINEES

CORPORATE GOVERNANCEDIRECTOR COMPENSATION

The compensation of our non-management directors is determined by the Compensation Committee. The table below sets forth cash and equity compensation paid to our non-management directors (including our independent Chairman) in the fiscal year ended June 30, 2014. All of our directors are non-management directors, other than Mr. Daly, who is our President and Chief Executive Officer. Mr. Daly’s compensation as President and Chief Executive Officer is reflected in the Summary Compensation Table on page 60 of the “Executive Compensation” section of this Proxy Statement. Mr. Daly does not receive any separate cash or equity compensation for his participation on the Broadridge Board of Directors.

The table below on non-management director compensation includes the following compensation elements:

Cash Compensation. In fiscal year 2014, non-management directors, other than our independent Chairman, Mr. Brun, received an annual retainer of $65,000 and meeting fees of $1,500 for each Board meeting and $1,500 for each committee meeting attended. The meeting fees are paid irrespective of whether meetings are held on the same date; and attendance at Board or committee meetings by telephone results in payment of one-half of the standard meeting fee. The Chairs of the Audit, Compensation, and Governance and Nominating Committees each received an additional annual retainer of $10,000 per year. Our independent Chairman of the Board received a retainer of $120,000 but does not receive meeting fees for participation in Board or committee meetings.

All retainers and meeting fees are paid in cash on a quarterly basis. Directors may elect to defer 100% of their retainers and meeting fees into a notional account in the form of phantom shares of Broadridge common stock. This election is made annually prior to the beginning of the calendar year in which the retainers and fees are earned and is irrevocable for the entire calendar year. Accounts are adjusted to reflect changes in value over time based on the change in Broadridge’s stock price and are also credited with dividend equivalents in the form of additional phantom shares on a quarterly basis as cash dividends are declared by the Broadridge Board. Participants receive distributions of the value of their notional accounts in cash following their departure from the Board of Directors.

Equity Compensation. Non-management directors received an annual grant of stock options and deferred stock units (“DSUs”) under the 2007 Omnibus Award Plan (the “Omnibus Plan”) during fiscal year 2014. Our independent Chairman, Mr. Brun, received equity awards with a target value of $180,000, and the other non-management directors each received equity awards with a target value of $120,000. The equity target value is split equally between grants of stock options and DSUs. The number of shares comprising each director’s equity awards is determined at the time of grant based on a 30-day average stock price and, for stock options, the binomial value.

All stock options are granted with an exercise price equal to the closing price of Broadridge common stock on the date of the grant. All options granted to our non-management directors are fully vested upon grant, and have a term of 10 years. On November 14, 2013, our independent Chairman, Mr. Brun, was granted 16,262 options with an exercise price of $36.35 per share, and the other non-management directors were each granted 10,841 stock options with an exercise price of $36.35 per share. Following separation from service on the Board, stock options held by directors expire at the earlier of the expiration of the option term and three years.

All DSUs are granted at the same time as stock options, are fully vested upon grant, and will settle as shares of common stock upon the director’s separation from service on the Board. DSUs are credited with dividend equivalents in the form of additional DSUs on a quarterly basis as dividends are declared by the Broadridge Board. On November 14, 2013, our independent Chairman Mr. Brun was granted 2,712 DSUs, and the other non-management directors were each granted 1,808 DSUs.

The stock ownership requirements for the Company’s non-management directors provide that each non-management director is expected to accumulate an amount of the Company’s common stock equal in value to at

least five times their annual cash retainer. In addition, the directors are required to hold 100% of their shares received upon exercise of stock options, net of their exercise price, tax liability, and transaction costs, until their separation from service on the Board. DSUs do not settle as shares of common stock until a director’s separation from service on the Board. Because of the holding requirement, there is no minimum time period in which the directors are required to achieve the stock ownership multiple. All directors are making progress toward meeting the ownership multiple.

Other. Non-management directors may participate in the Broadridge Director & Officer Matching Gift Program on the same terms as the Company’s executive officers. Under this program, a charitable foundation established and funded by the Company (the “Broadridge Foundation”) contributes an equal amount to any qualified tax-exempt organization that a director supports up to a maximum Company contribution of $10,000 per calendar year.

The non-management directors are also reimbursed for their reasonable expenses in connection with attending Board and committee meetings and other Company events.

Fiscal Year 2014 Non-Management Director Compensation

Name

  Fees Earned or
Paid in Cash
($) (1)
   Stock Awards
($) (2)
   Option Awards
($) (3)
   All Other
Compensation
($) (4)
   Total
($)
 

Leslie A. Brun

  $120,000    $107,833    $89,929    $10,000    $327,762  

Robert N. Duelks

  $86,750    $72,125    $59,951    $10,000    $228,826  

Richard J. Haviland

  $92,250    $72,125    $59,951    $10,000    $234,326  

Sandra S. Jaffee (5)

  $77,000    $72,125    $59,951    $10,000    $219,076  

Stuart R. Levine

  $95,250    $72,125    $59,951    $9,000    $236,326  

Maura A. Markus

  $80,000    $67,802    $59,951    $10,000    $217,753  

Thomas J. Perna

  $86,000    $72,125    $59,951    $0    $218,076  

Alan J. Weber

  $93,750    $72,125    $59,951    $10,000    $235,826  

(1)This column reports the amount of cash compensation payable for fiscal year 2014 Board and committee service. Mr. Brun and Mr. Levine deferred their fiscal year 2014 cash compensation as follows:

Name

  Fees Earned
in Cash
($)
   Fees Paid in
Cash
($)
   Fees Deferred
($)
   Number of
Shares of
Phantom Stock
Credited to
Notional
Account
(#)
 

Leslie A. Brun

  $120,000    $60,000    $60,000     1,704.0  

Stuart R. Levine

  $95,250    $0    $95,250     2,564.6  

(2)As required by SEC rules, amounts in this column present the aggregate grant date fair value of DSU awards computed in accordance with Financial Accounting Standards Board’s Accounting Standards Codification 718, Compensation—Stock Compensation (“FASB ASC Topic 718”). See Note 14, “Stock-Based Compensation,” to the Company’s Consolidated Financial Statements for the fiscal year ended June 30, 2014 included in the 2014 Form 10-K, for the relevant assumptions used to determine the valuation of these awards. The total number of DSUs that were outstanding for each non-management director as of June 30, 2014 is as follows: 12,981 (Mr. Brun); 8,941 (Mr. Duelks); 8,941 (Mr. Haviland); 8,941 (Ms. Jaffee); 8,941 (Mr. Levine); 3,552 (Ms. Markus); 8,941 (Mr. Perna); and 8,941 (Mr. Weber).
(3)

As required by SEC rules, amounts in this column present the aggregate grant date fair value of option awards computed in accordance with FASB ASC Topic 718. See Note 14, “Stock-Based Compensation,” to the Company’s Consolidated Financial Statements for the fiscal year ended June 30, 2014 included in the 2014 Form 10-K, for the relevant assumptions used to determine the valuation of these awards. The total number of

stock options outstanding for each non-management director as of June 30, 2014, all of which are exercisable, is as follows: 111,543 (Mr. Brun); 55,866 (Mr. Duelks); 92,166 (Mr. Haviland); 40,766 (Ms. Jaffee); 92,166 (Mr. Levine); 20,943 (Ms. Markus); 55,866 (Mr. Perna); and 92,166 (Mr. Weber).
(4)This column represents Company-paid contributions made to qualified tax-exempt organizations under the Matching Gift Program on behalf of the non-management directors. The Company matches 100% of all contributions made by its non-management directors to qualified tax-exempt organizations, up to a maximum Company contribution of $10,000 per calendar year. Amounts shown reflect total Company matching contributions in the fiscal year.
(5)Ms. Jaffee is rotating off the Board when her term expires on November 13, 2014 due to an age limitation in our Corporate Governance Principles.

CORPORATE GOVERNANCE

The Board of Directors

The directors hold regular meetings, attend special meetings as required and spend such time on the affairs of the Company as their duties require. Our Corporate Governance Principles provide that directors are expected to attend regular Board meetings in person and to spend the time needed and meet as frequently as necessary to properly discharge their responsibilities. In fiscal year 2013, the Board of Directors held a total of six meetings, regular and special. All directors of the Company attended at least 75% of the meetings of the Board of Directors and of the committees on which they served during fiscal year 2014, except that Ms. Jaffee was unable to attend four of the period. Maura A. Markus was elected to the Broadridge Board of Directors on March 1, 2013, and she has attended all Board13 meetings held during fiscal year 2013 following her election. Ms. Markus is not currentlydue to unavoidable conflicts with the meetings of another company’s board on which she serves as a member of a Board committee.director.

The Board of Directors has three standing committees, each of which is comprised solely of non-managementindependent directors and is led by an independent chair.Chair: Audit Committee, Compensation Committee, and Governance and Nominating Committee. The non-managementindependent directors meet in executive sessions during each regular Board meeting and committee meeting. AtIn addition, at least once a year, our non-managementindependent directors will meet to review the Compensation Committee’s annual review of the Chief Executive Officer.

 

Name

 Age Occupation 

Independent

 

Committee

 Director
Since
  Attended
at least
75% of
Meetings
 Age Occupation 

Independent

 

Committee

 Director
Since
 
 

Audit

 

Compensation

 

Gov &
Nom

   

Full Board

 

Audit

 

Compensation

 

Gov &
Nom

 

Leslie A. Brun

 61 Chairman and CEO,
SARR Group, LLC
 Yes (1)     2007   Yes 62 Chairman and CEO, SARR
Group, LLC
 Yes (1)      2007  

Richard J. Daly

 60 CEO, Broadridge No (2)     2007   Yes 61 President and CEO,
Broadridge
 No (2)      2007  

Robert N. Duelks

 58 Retired, Accenture plc Yes þ  þ  2009   Yes 59 Retired, Accenture plc Yes  þ þ   2009  

Richard J. Haviland

 67 Retired, CFO, ADP Yes C,F  þ  2007   Yes 68 Retired CFO, ADP Yes  C,F  þ  2007  

Sandra S. Jaffee(3)

 71 Former CEO, Fortent Inc. Yes þ þ   2010   Yes 72 Former CEO, Fortent Inc. Yes    

þ

  2010  

Stuart R. Levine

 66 Chairman and CEO, Stuart
Levine and Associates
LLC
 Yes  þ C  2007   Yes 67 Chairman and CEO, Stuart
Levine and Associates LLC
 Yes  þ  C  2007  

Maura A. Markus

 55 President and COO, Bank
of the West
 Yes     2013   Yes 56 Former President and COO,
Bank of the West
 Yes  þ þ   2013  

Thomas J. Perna

 62 Chairman, Quadriserv, Inc. Yes þ þ   2009   Yes 63 Former Chairman and CEO,

Quadriserv, Inc.

 Yes  þ  þ  2009  

Alan J. Weber

 64 CEO, Weber Group LLC Yes þ,F C    2007   Yes 65 CEO, Weber Group LLC Yes   þ,F C    2007  

Number of Meetings in Fiscal Year 2013

 6 5 6    

Number of Meetings in Fiscal Year 2014

Number of Meetings in Fiscal Year 2014

 5 5 6 4  

 

1.(1)Chairman of the Board
2.(2)President and CEO
(3)Rotating off the Board when her term expires on November 13, 2014 due to an age limitation in our Corporate Governance Principles
CCommittee Chair
FAudit Committee Financial Expert

Board Leadership Structure

Our Corporate Governance Principles do not specify a policy with respect to the separation of the positions of Chairman and Chief Executive Officer or with respect to whether the Chairman should be a member of management or a non-management director. The Board recognizes that there is no single, generally accepted approach to providing Board leadership, and given the dynamic and competitive environment in which we

operate, the Board’s leadership structure may vary as circumstances warrant. The Board has determined that the leadership of the Board is currently best conducted by a Chairman. The Chairman provides overall leadership to the Board in its oversight function, while the Chief Executive Officer, Mr. Daly, provides leadership with respect to the day-to-day management and operation of our business. We believe the separation of the offices allows the Chairman to focus on managing Board matters and allows Mr. Daly to focus on managing our business. In

addition, we believe the separation of the offices enhances the objectivity of the Board in its management oversight role. To further enhance the objectivity of the Board, the director nominees, other than Mr. Daly, are independent.

The Board is currently led by our independent Chairman, Mr. Brun. Therefore, the Board does not believe that the appointment of a designated lead independent director is necessary and the Board currently has not appointed a lead independent director. The Board believes that having an independent Chairman vested with key duties and responsibilities and three independent Board committees chaired by independent directors provides a formal structure for strong independent oversight of the Company’s management team. The independent Chairman has the following duties and responsibilities:

 

Advisingadvising the independent directors with respect to the quality, quantity and timeliness of information provided by Company management to the Board, and with respect to including items on the agendas of Board meetings;

 

Developingdeveloping agendas for, and presiding over executive sessions of, the Board’s independent directors; and

 

Discussingdiscussing with senior management on behalf of the independent directors such matters which, in the judgment of the Chairman, merit the attention of senior management.

Committees of the Board

The Audit Committee

The Board of Directors has a standing Audit Committee as defined in the Securities Exchange Act of 1934, as amended (the “Exchange Act”), the current members of which are Mr. Haviland, Mr. Duelks, Ms. Jaffee, Mr. Perna, and Mr. Weber. Mr. Haviland serves as the Chair of the Audit Committee. The Board of Directors has determined that each of the members of the Audit Committee is “independent”independent as defined by NYSE Listing Standards and the rules of the SEC applicable to audit committee members, and that Mr. Haviland and Mr. Weber qualify as “auditaudit committee financial experts”experts as defined in the applicable SEC rules.

The Audit Committee has a charter under which its responsibilities and authorities include assisting the Board in overseeing: (i) the overseeing the:

Company’s systems of internal controls regarding finance, accounting, legal and regulatory compliance; (ii) the

Company’s auditing, accounting and financial reporting processes generally; (iii) the

integrity of the Company’s financial statements and other financial information provided by the Company to its stockholders and the public; (iv) the

Company’s compliance with legal and regulatory requirements; and (v) the

performance of the Company’s Internal Audit Department and independent registered public accountants.

In fiscal year 2013,addition, in the performance of its oversight duties and responsibilities, the Audit Committee held six meetings.also reviews and discusses with management the Company’s quarterly financial statements and earnings press releases as well as financial information and earnings guidance included therein; reviews periodic reports from management covering changes, if any, in accounting policies, procedures and disclosures, and management’s assessment of the effectiveness of internal control over financial reporting to ensure compliance with Section 404 of the Sarbanes-Oxley Act of 2002; and reviews and discusses with the Company’s internal auditors and with its independent registered public accountants the overall scope and plans of their respective audits.

In connection with the Company’s risk oversight process, the Audit Committee reviews and discusses with management the Company’s major financial and certain compliance risk exposures and the steps management has taken to monitor and control such exposures (including management’s risk assessment and risk management policies).

The Report of the Audit Committee is included on page 79 of this Proxy Statement. The Audit Committee’s charter is available on the Company’s website atwww.broadridge.com under the heading “Investor Relations—Corporate Governance.”

The Compensation Committee

The Board of Directors has a standing Compensation Committee, the current members of which are Mr. Weber, Ms. Jaffee, Mr. Levine, and Mr. Perna. Mr. Weber serves as the Chair of the Compensation Committee. The Board of Directors has determined that each member of the Compensation Committee is “independent” as defined by NYSE Listing Standards. In addition, each member of the Compensation Committee is independent for purposes of the applicable SEC and tax rules. The Compensation Committee has a charter under which its responsibilities and authorities include: (i) 

reviewing the Company’s compensation strategy; (ii) 

reviewing the performance of the senior management; (iii) 

reviewing the risks associated with the Company’s compensation programs; (iv) 

approving the compensation of the Chief Executive Officer; and (v) 

reviewing and making recommendations to the Board regarding the compensation of all other executive officers.

In addition, the Compensation Committee administers the Company’s equity-based compensation plans and takes such other action as may be appropriate or as directed by the Board of Directors to ensure that the compensation policies of the Company are reasonable and fair.

As necessary, the Compensation Committee consultedconsults with Frederic W. Cook & Co. (“Cook & Co.”) as its independent compensation consultant to advise on matters related to our executive officers’ and directors’ compensation and general compensation programs. Cook & Co. assistedassists the Compensation Committee by providing comparative market data on compensation practices and programs. Cook & Co. also providedprovides guidance on industry best practices, the design of incentive plans and other indirect elements of our overall compensation plan,program, the setting of performance goals, and the drafting of compensation-related disclosures. In fiscal year 2013, the Compensation Committee held five meetings. For further discussion of the roles of the Compensation Committee and Cook & Co., please see the section of this Proxy Statement entitled “Compensation Discussion and Analysis.Analysis” beginning on page 34.

The Compensation Committee Report is included on page 59 of this Proxy Statement. The Compensation Committee’s charter is available on the Company’s website atwww.broadridge.com under the heading “Investor Relations—Corporate Governance.

The Governance and Nominating Committee

The Board of Directors also has a standing Governance and Nominating Committee, the current members of which are Mr. Levine, Mr. Duelks, and Mr. Haviland. Mr. Levine serves as Chair of the Governance and Nominating Committee. The Board of Directors has determined that each member of the Governance and Nominating Committee is “independent”independent as defined by NYSE Listing Standards.

The Governance and Nominating Committee has a charter, under which its responsibilities and authorities include: (i) 

identifying individuals qualified to become Board members and recommending that the Board select a group of director nominees for each annual meeting of the Company’s stockholders; (ii) 

ensuring that the Audit, Compensation and Governance and Nominating Committees of the Board of Directors shall have the benefit of qualified and experienced independent directors; and (iii) 

developing and recommending to the Board a set of effective corporate governance policies and procedures applicable to the Company. In fiscal year 2013,

The Corporate Governance Principles and the Governance and Nominating Committee held six meetings.Committee’s charter is available on the Company’s website atwww.broadridge.com under the heading “Investor Relations—Corporate Governance.”

Nomination Process

When seeking candidates for director, the Governance and Nominating Committee may solicit suggestions from incumbent directors, management, stockholders or others. While the Governance and Nominating Committee has authority under its charter to retain a search firm for this purpose, no such firm has been retained. After conducting an initial evaluation of a potential candidate, the Governance and Nominating Committee will interview that candidate if it believes such candidate might be suitable to be a director. The candidate may also meet with members of the Board other than the members of the Governance and Nominating Committee. At the candidate’s request, they may also meet with management. If the Governance and Nominating Committee believes a candidate would be a valuable addition to the Board, it will recommend to the full Board that candidate’s election.

The Governance and Nominating Committee selects each nominee based on the nominee’s skills, achievements and experience. The Corporate Governance Principles provide that director nominees should have experience in positions with a high degree of responsibility, be leaders in the companies or institutions with which they are affiliated, and be selected based upon contributions they can make.

The Governance and Nominating Committee considers a variety of factors in selecting candidates. The minimum characteristics that the Governance and Nominating Committee believes must be met include: independence, wisdom, integrity, an understanding and general acceptance of the Company’s corporate philosophy, valid business or professional knowledge and experience, a proven record of accomplishment with excellent organizations, an inquiring mind, a willingness to speak one’s mind, an ability to challenge and stimulate management, and a willingness to commit time and energy.

In making its selection of candidates to recommend for election, the Corporate Governance Principles provide that the Board seeks members from diverse professional, racial, cultural, ethnic and gender backgrounds that combine a broad spectrum of experience and expertise with a reputation for integrity. Exceptional candidates who do not meet all of these criteria may still be considered.

This year, the Board of Directors elected Maura A. Markusdue to fill the Board seat left vacant when Alexandra Lebenthal did not standan age limitation for reelectionelection to the Board when herin the Corporate Governance Principles, Sandra S. Jaffee is not standing for re-election and will be rotating off the Board. Her term expiredwill expire following the Annual Meeting on November 15, 2012. Ms. Markus was identified as a candidate by one of the Company’s non-management Board members.13, 2014.

The Corporate Governance Principles do not provide for a fixed number of directors, but provide that the optimum size of the Company’s Board of Directors is 8 to 12 directors.

Stockholders who wish to submit nominees for election at an annual or special meeting of stockholders should follow the procedure described on page 76.82. The Governance and Nominating Committee will apply the same standards in considering candidates submitted by stockholders as it does in evaluating candidates submitted by members of the Board of Directors.

The Board’s Role in Risk Oversight

The Company’s management is responsible for managing risks affecting the Company, including identifying, assessing and appropriately mitigating risk. The responsibilities of the Board of Directors include oversight of the Company’s risk management processes. The Board of Directors has two primary methods of overseeing risk. The first method is through the Company’s Enterprise Risk Management (“ERM”) process which allows for full Board oversight of the most significant risks facing the Company. The second is through the functioning of the Board’s committees.

Management established the ERM process to ensure a complete Company-wide approach to risk over five distinct but overlapping core areas:

 

Strategic—the risks that could impede the Company from achieving its strategic vision and goals;

 

Financial—the risks related to maintaining accurate financial statements, and timely and complete financial disclosures;

 

Operational—the risks in the processes, people and technology the Company employs to achieve its strategy and normal business operations;

 

Compliance—the risks related to the Company’s legal and regulatory compliance requirements and violations of laws; and

 

Reputational—the risks that impact the Company’s reputation including failing to meet the expectations of its customers, investors, employees, regulators or the public.

The goal of the ERM process is to provide an ongoing process;process, effected at all levels of the Company across each business unit and corporate function, to identify and assess risk, monitor risk, and agree on mitigating action. Central to Broadridge’s risk management process is its risk committee, which oversees management’s identification and assessment of the key risks in the Company, and reviews the controls management has in place with respect to these risks. The risk committee is comprised of executive officers and senior executives of the Company including the President,Chief Operating Officer, Chief Financial Officer, General Counsel, Chief Information Officer, and Corporate Vice President, Human Resources. The risk committee communicates the results of its work directly to the Chief Executive Officer and the Board. The Chief Executive Officer, President,Chief Operating Officer, and Chief Financial Officer meet regularly to discuss specific risks and the Company’s risk management processes.

In addition, the Board and the Audit and Compensation Committees of the Board oversee specific areas of risk as follows:

 

The full Board has oversight responsibility of the Company’s Strategic, Operational, and Reputational risks.

 

The Chief Financial Officer updates the full Board on the Strategic, Reputational and non-information technology Operational risks.

The Chief Information Officer updates the full Board on information technology Operational risks.

 

The Audit Committee has oversight responsibility of the Company’s Financial and Compliance risks (other than compensation program design risk).

 

The Chief Financial Officer, Corporate Controller and Treasurer update the Audit Committee on the Financial risks.

 

The Chief Financial Officer, Corporate Controller, General Counsel, and other business and finance executives update the Audit Committee on the Compliance risks.

 

The Compensation Committee has oversight responsibility of the Company’s compensation program design risk.

 

The Corporate Vice President, Human Resources updates the Compensation Committee on compensation program design risk.

The Chairs of the Audit Committee and Compensation Committee may address risks directly with management, or, where appropriate, may elevate a risk for consideration by the full Board. The ERM process and the full Board and committee approach to risk management leverages the Board’s leadership structure to ensure that risk is overseen by the Board on both a Company-wide approach and through specific areas of competency.

Risk Assessment of Compensation Programs

With the assistance of Cook & Co., the Compensation Committee reviewedreviews our compensation programs for all Broadridge employees andon an annual basis. The Committee concluded that theyour compensation programs do not create risks that are reasonably likely to have a material adverse effect on the Company.

The key design features in our compensation programprograms that support this conclusion are:

 

The mix between fixed and variable compensation, annual and long-term compensation, and cash and equity compensation are designed to encourage strategies and actions that are in Broadridge’s and our stockholders’ long-term best interests.

 

  Stock options and performance-based restricted stock units (“RSU”) awarded as part of the total compensation program provide for significant long-term wealth creation for executive officers only when we provide consistent total stockholdershareholder return (as reflected in an increase in our Common Stockcommon stock price and quarterly dividend payments) over a sustained period.

 

Long-term compensation is designed to reward executives for creating sustained increases in stockholder value over a multi-yearmultiple year period. The multiple-yearmultiple year vesting periods of 2.5 to four years for equity compensation awards encourage executives to focus on sustained stock price appreciation.

 

Incentive awards are determined based on a review of a variety of financial and non-financial indicators of performance, thus diversifyingwhich diversifies the risk associated with any single performance measure.

 

The Compensation Committee reviews and approves executive officer objectives to ensure that goals are aligned with the Company’s business plans, achieve the proper risk/reward balance, and do not encourage unnecessary or excessive risk taking.

 

Annual and long-term incentive awards have a cap on the maximum payment and design features intended to balance pay for performance within appropriate time periods.

 

The Compensation Committee has the ability to use its discretion to reduce earned incentive awards based on a subjective evaluation of each individual’s performance against strategic and leadership objectives and other factors.

 

We maintain a clawback policy that requires a recoupmentthe reimbursement by an executive officer of bonus,cash or equity incentive and equity compensation earned by any executive officer in connection with a restatement of our financial statements due to material noncompliance with financial reporting requirements.

Officer Stock Ownership Guidelines are in place for all of the Company’s executive officers, including the Named Executive Officers listed on page 26,34, providing the goal that executive officers accumulate shares of our Common Stockcommon stock at least equal in value to two to six times their current annual base salary.

 

Officer Stock Retention and Holding Period Guidelines are in place providing the goal that all executive officers, including the Named Executive Officers listed on page 26,34, retain at least 50% of the financial gainnet profit shares realized from stock option exercises and RSU vesting in the form of our Common Stock.common stock. These net profit shares must be held indefinitely if the executive officer has not met the Stock Ownership Guidelinestock ownership guideline and must be held for a minimum of one year if the executive officer has met the ownership guideline.

 

A Pre-Clearance and Insider Trading Policy is in place that requires pre-approval of any transactions in our Common Stockcommon stock by executive officers and directors and prohibits the hedging activities.or pledging of our stock.

Communications with the Board of Directors

All interested parties who wish to communicate with the Board of Directors or any of the non-management directors, may do so by sending a letter to the Secretary, Broadridge Financial Solutions, Inc., 1981 Marcus Avenue, Lake Success, New York 11042, and should specify the intended recipient or recipients. All such communications, other than unsolicited commercial solicitations or communications, will be forwarded to the appropriate director or directors for review. Any such unsolicited commercial solicitation or communications not forwarded to the appropriate director or directors will be available to any non-management director who wishes to review it. The Governance and Nominating Committee, on behalf of the Board, will review any letters it may receive concerning the Company’s corporate governance processes and will make recommendations to the Board based on such communications.

Website Access to Corporate Governance DocumentsCode of Business Conduct and Code of Ethics

The Company has adopted a Code of Business Conduct and Ethics (the “Code of Business Conduct”) and a Code of Ethics for Principal Executive Officer and Senior Financial Officers (the “Code of Ethics”) which applies, among others, to the Company’s principal executive officer, principal financial officer and controller.

Copies of the charters for the Audit Committee, the Compensation Committee and the Governance and Nominating Committee, as well as the Company’s Corporate Governance Principles, Code of Business Conduct and the Code of Ethics, are available free of charge on our corporate website atwww.broadridge.com under the heading “Investor Relations—Corporate Governance” or by writing to the Secretary, Broadridge Financial Solutions, Inc., 1981 Marcus Avenue, Lake Success, New York 11042. The Company will also post on its website any amendment to the Code of Business Conduct andor the Code of Ethics and any waiver of the Code of Business Conduct or the Code of Ethics granted to any of its directors or executive officers to the extent required by applicable rules.

Website Access to Corporate Governance Documents

Copies of the Corporate Governance Principles, Code of Business Conduct, Code of Ethics and the Charters of the Committees of the Board of Directors are available on our corporate website atwww.broadridge.com under the heading “Investor Relations—Corporate Governance” or by writing to the Secretary, Broadridge Financial Solutions, Inc., 1981 Marcus Avenue, Lake Success, New York 11042.

Certain Relationships and Related Transactions

The Audit Committee of the Board of Directors is responsible for reviewing and evaluating the Company’s transactions with persons who are related to the Company such as a director, executive officer of the Company, or an immediate family member of a director or executive officer of the Company. In addition, the Company has adopted the Code of Business Conduct as noted elsewhere in this section that, among other things, prohibits Company personnel, including members of the Board of Directors from exploiting their positions or relationships with Broadridge for personal gain. In that regard such personnel must avoid:

 

causing Broadridge to engage in business transactions with relatives or friends;

 

using non-public Broadridge, client or vendor information for personal gain by the employee, their relatives or friends (including securities transactions based on such information);

having more than a modest financial interest in Broadridge’s vendors, clients or competitors;

 

receiving a loan, or guarantee of obligations, from Broadridge or a third party as a result of their positions at Broadridge; or

 

competing or preparing to compete, with Broadridge while still employed by Broadridge.

The Code of Business Conduct provides that there shall be no waiver of any part of the Code of Business Conduct, except by a vote of the Board of Directors or a designated committee, which will ascertain whether a waiver is appropriate and ensure that the waiver is accompanied by appropriate controls designed to protect Broadridge.

In the fiscal year ended June 30, 2013,2014, the Company did not engage in any transaction with a related person in which the amount involved exceeded $120,000.

Director Attendance at Annual Meetings

The Company does not have a formal policy with regard to the directors’ attendance at annual meetings of stockholders. Generally, however, Board and committee meetings are held the same day as the annual meeting of stockholders, with directors attending the annual meeting. All of the directors then in office attended the Company’s 20122013 annual meeting of stockholders.

MANAGEMENT

Directors and Executive Officers

The following table sets forth information regarding individuals who serve as our executive officers. Information about the individuals who serve as our directors is set forth in the “Proposal 1—Election of Directors—Information About the Nominees” section of this Proxy Statement.

 

Name

  Age   Position(s)

Richard J. Daly

   60Chief Executive Officer and Director

John Hogan

6561    President and Chief Executive Officer, Director

Timothy C. Gokey

   5253    Corporate Senior Vice President and Chief Operating Officer

Christopher J. Perry

52Corporate Senior Vice President, Global Sales, Marketing and
Client Solutions

Robert Schifellite

   5556    Corporate Senior Vice President, Investor Communication
Solutions

Adam D. Amsterdam

   5253    Corporate Vice President, General Counsel and Secretary

Maryjo T. Charbonnier

   4344    Corporate Vice President, Human Resources

Lyell Dampeer

   6263    Corporate Vice President, U.S. Investor Communication
Solutions

Douglas R. DeSchutter

   4344    Corporate Vice President, U.S. Regulatory and Digital
Communications

Robert F. Kalenka

   5051    Corporate Vice President, Global Procurement and Facilities

Charles J. Marchesani

   5354    Corporate Vice President, Securities Processing Solutions

Stephen G. Racioppo

60Corporate Vice President, Chief Revenue Officer

Gerard F. Scavelli

   5859    Corporate Vice President, Investor Communication Solutions-
Mutual Funds

Dan SheldonJames M. Young

   5743    Corporate Vice President and Chief Financial Officer

Richard J. Daly. Mr. Daly is our President and Chief Executive Officer and a member of our Board of Directors. Mr. Daly’s biographical information is set forth in the “Proposal 1—Election of Directors—Information About the Nominees” section of this Proxy Statement.

John Hogan. Mr. Hogan is our President. In September 2013, the Board accepted Mr. Hogan’s resignation as President of Broadridge effective December 31, 2013. Mr. Hogan will continue at the Company in a non-officer role. In addition to his role as President of the Company, Mr. Hogan served as our Chief Operating Officer from 2007 until September 2012. Prior to the spin-off, he served as Group President of the Brokerage Services Group of ADP and as a member of the Executive Committee and a Corporate Officer of ADP, positions he held since June 1996. In his role as President, he shared the responsibility of running the Brokerage Services Group with Mr. Daly and was directly responsible for our Securities Processing Solutions and Clearing and Outsourcing Solutions businesses. He joined ADP in 1993 as Senior Vice President and Chief Operations Officer of the Proxy Services business.

Timothy C. Gokey. Mr. Gokey is our Corporate Senior Vice President and Chief Operating Officer. Mr. GokeyOfficer with responsibility for all Broadridge’s business units. Previously, he served as Broadridge’s Chief Corporate Development Officer and was appointed toresponsible for the role of Chief Operating Officer in September 2012. Mr. Gokey’s responsibilities include our Securities Processing Solutions segment, and overallCompany’s growth initiatives, including sales and marketing, strategy, mergers and acquisitions, partnerships, and other growth-related activities. Prior to his appointment as Chief Operating Officer, Mr. Gokey’s title was Corporate Senior Vice President, Chief Corporate Development Officer. Prior to joining Broadridge in 2010, Mr. Gokey was President of the Retail Tax business at H&R Block from 2004. Previously,Prior to joining H&R Block, Mr. Gokey spent 13 years at McKinsey and Company, a global consulting firm, most recently as a partner of the firm. At McKinsey, Mr. Gokey served over two dozen Fortune 500 and 1000 companies primarily in the financial services industry. He also led McKinsey’s North American Financial Services Marketing Practice.

Christopher J. Perry. Mr. Perry is our Corporate Senior Vice President, Global Sales, Marketing and Client Solutions. He joined Broadridge in September 2014 after more than 25 years of experience in banking, brokerage and financial information services. Most recently, he was Global Managing Director of Risk for the Financial & Risk division of Thomson Reuters. In this role, he was the general manager of a global segment which includes Governance, Risk, Compliance, Pricing, Valuation and Reference Services. Over the previous

14 years, Mr. Perry held numerous roles at Thomson Reuters and its predecessor, Thomson Financial. From 2011 to 2013, he was President, Global Sales & Account Management at the Financial & Risk division of Thomson Reuters. From 2006 to 2010, he served as President, Americas for Thomson Reuters and its predecessor, Thomson Financial. Earlier in his career, Mr. Perry worked for A-T Financial and PC Quote, after spending many years in institutional trading and retail brokerage with Kemper Financial’s Blunt Ellis & Loewi unit.

Robert SchifelliteCash Compensation. In fiscal year 2014, non-management directors, other than our independent Chairman, Mr. SchifelliteBrun, received an annual retainer of $65,000 and meeting fees of $1,500 for each Board meeting and $1,500 for each committee meeting attended. The meeting fees are paid irrespective of whether meetings are held on the same date; and attendance at Board or committee meetings by telephone results in payment of one-half of the standard meeting fee. The Chairs of the Audit, Compensation, and Governance and Nominating Committees each received an additional annual retainer of $10,000 per year. Our independent Chairman of the Board received a retainer of $120,000 but does not receive meeting fees for participation in Board or committee meetings.

All retainers and meeting fees are paid in cash on a quarterly basis. Directors may elect to defer 100% of their retainers and meeting fees into a notional account in the form of phantom shares of Broadridge common stock. This election is made annually prior to the beginning of the calendar year in which the retainers and fees are earned and is irrevocable for the entire calendar year. Accounts are adjusted to reflect changes in value over time based on the change in Broadridge’s stock price and are also credited with dividend equivalents in the form of additional phantom shares on a quarterly basis as cash dividends are declared by the Broadridge Board. Participants receive distributions of the value of their notional accounts in cash following their departure from the Board of Directors.

Equity Compensation. Non-management directors received an annual grant of stock options and deferred stock units (“DSUs”) under the 2007 Omnibus Award Plan (the “Omnibus Plan”) during fiscal year 2014. Our independent Chairman, Mr. Brun, received equity awards with a target value of $180,000, and the other non-management directors each received equity awards with a target value of $120,000. The equity target value is split equally between grants of stock options and DSUs. The number of shares comprising each director’s equity awards is determined at the time of grant based on a 30-day average stock price and, for stock options, the binomial value.

All stock options are granted with an exercise price equal to the closing price of Broadridge common stock on the date of the grant. All options granted to our non-management directors are fully vested upon grant, and have a term of 10 years. On November 14, 2013, our independent Chairman, Mr. Brun, was granted 16,262 options with an exercise price of $36.35 per share, and the other non-management directors were each granted 10,841 stock options with an exercise price of $36.35 per share. Following separation from service on the Board, stock options held by directors expire at the earlier of the expiration of the option term and three years.

All DSUs are granted at the same time as stock options, are fully vested upon grant, and will settle as shares of common stock upon the director’s separation from service on the Board. DSUs are credited with dividend equivalents in the form of additional DSUs on a quarterly basis as dividends are declared by the Broadridge Board. On November 14, 2013, our independent Chairman Mr. Brun was granted 2,712 DSUs, and the other non-management directors were each granted 1,808 DSUs.

The stock ownership requirements for the Company’s non-management directors provide that each non-management director is expected to accumulate an amount of the Company’s common stock equal in value to at

least five times their annual cash retainer. In addition, the directors are required to hold 100% of their shares received upon exercise of stock options, net of their exercise price, tax liability, and transaction costs, until their separation from service on the Board. DSUs do not settle as shares of common stock until a director’s separation from service on the Board. Because of the holding requirement, there is no minimum time period in which the directors are required to achieve the stock ownership multiple. All directors are making progress toward meeting the ownership multiple.

Other. Non-management directors may participate in the Broadridge Director & Officer Matching Gift Program on the same terms as the Company’s executive officers. Under this program, a charitable foundation established and funded by the Company (the “Broadridge Foundation”) contributes an equal amount to any qualified tax-exempt organization that a director supports up to a maximum Company contribution of $10,000 per calendar year.

The non-management directors are also reimbursed for their reasonable expenses in connection with attending Board and committee meetings and other Company events.

Fiscal Year 2014 Non-Management Director Compensation

Name

  Fees Earned or
Paid in Cash
($) (1)
   Stock Awards
($) (2)
   Option Awards
($) (3)
   All Other
Compensation
($) (4)
   Total
($)
 

Leslie A. Brun

  $120,000    $107,833    $89,929    $10,000    $327,762  

Robert N. Duelks

  $86,750    $72,125    $59,951    $10,000    $228,826  

Richard J. Haviland

  $92,250    $72,125    $59,951    $10,000    $234,326  

Sandra S. Jaffee (5)

  $77,000    $72,125    $59,951    $10,000    $219,076  

Stuart R. Levine

  $95,250    $72,125    $59,951    $9,000    $236,326  

Maura A. Markus

  $80,000    $67,802    $59,951    $10,000    $217,753  

Thomas J. Perna

  $86,000    $72,125    $59,951    $0    $218,076  

Alan J. Weber

  $93,750    $72,125    $59,951    $10,000    $235,826  

(1)This column reports the amount of cash compensation payable for fiscal year 2014 Board and committee service. Mr. Brun and Mr. Levine deferred their fiscal year 2014 cash compensation as follows:

Name

  Fees Earned
in Cash
($)
   Fees Paid in
Cash
($)
   Fees Deferred
($)
   Number of
Shares of
Phantom Stock
Credited to
Notional
Account
(#)
 

Leslie A. Brun

  $120,000    $60,000    $60,000     1,704.0  

Stuart R. Levine

  $95,250    $0    $95,250     2,564.6  

(2)As required by SEC rules, amounts in this column present the aggregate grant date fair value of DSU awards computed in accordance with Financial Accounting Standards Board’s Accounting Standards Codification 718, Compensation—Stock Compensation (“FASB ASC Topic 718”). See Note 14, “Stock-Based Compensation,” to the Company’s Consolidated Financial Statements for the fiscal year ended June 30, 2014 included in the 2014 Form 10-K, for the relevant assumptions used to determine the valuation of these awards. The total number of DSUs that were outstanding for each non-management director as of June 30, 2014 is as follows: 12,981 (Mr. Brun); 8,941 (Mr. Duelks); 8,941 (Mr. Haviland); 8,941 (Ms. Jaffee); 8,941 (Mr. Levine); 3,552 (Ms. Markus); 8,941 (Mr. Perna); and 8,941 (Mr. Weber).
(3)

As required by SEC rules, amounts in this column present the aggregate grant date fair value of option awards computed in accordance with FASB ASC Topic 718. See Note 14, “Stock-Based Compensation,” to the Company’s Consolidated Financial Statements for the fiscal year ended June 30, 2014 included in the 2014 Form 10-K, for the relevant assumptions used to determine the valuation of these awards. The total number of

stock options outstanding for each non-management director as of June 30, 2014, all of which are exercisable, is as follows: 111,543 (Mr. Brun); 55,866 (Mr. Duelks); 92,166 (Mr. Haviland); 40,766 (Ms. Jaffee); 92,166 (Mr. Levine); 20,943 (Ms. Markus); 55,866 (Mr. Perna); and 92,166 (Mr. Weber).
(4)This column represents Company-paid contributions made to qualified tax-exempt organizations under the Matching Gift Program on behalf of the non-management directors. The Company matches 100% of all contributions made by its non-management directors to qualified tax-exempt organizations, up to a maximum Company contribution of $10,000 per calendar year. Amounts shown reflect total Company matching contributions in the fiscal year.
(5)Ms. Jaffee is rotating off the Board when her term expires on November 13, 2014 due to an age limitation in our Corporate Governance Principles.

CORPORATE GOVERNANCE

The Board of Directors

The directors hold regular meetings, attend special meetings as required and spend such time on the affairs of the Company as their duties require. Our Corporate Senior Vice President, Investor Communication Solutions. HeGovernance Principles provide that directors are expected to attend regular Board meetings in person and to spend the time needed and meet as frequently as necessary to properly discharge their responsibilities. All directors of the Company attended at least 75% of the meetings of the Board of Directors and of the committees on which they served during fiscal year 2014, except that Ms. Jaffee was unable to attend four of the 13 meetings held due to unavoidable conflicts with the meetings of another company’s board on which she serves as a director.

The Board of Directors has three standing committees, each of which is comprised solely of independent directors and is led by an independent Chair: Audit Committee, Compensation Committee, and Governance and Nominating Committee. The independent directors meet in executive sessions during each regular Board meeting and committee meeting. In addition, at least once a year, our independent directors meet to review the Compensation Committee’s annual review of the Chief Executive Officer.

Name

 Age Occupation 

Independent

   

Committee

 Director
Since
 
    

Full Board

 

Audit

 

Compensation

 

Gov &
Nom

 

Leslie A. Brun

 62 Chairman and CEO, SARR
Group, LLC
 Yes (1)      2007  

Richard J. Daly

 61 President and CEO,
Broadridge
 No (2)      2007  

Robert N. Duelks

 59 Retired, Accenture plc Yes  þ þ   2009  

Richard J. Haviland

 68 Retired CFO, ADP Yes  C,F  þ  2007  

Sandra S. Jaffee (3)

 72 Former CEO, Fortent Inc. Yes    

þ

  2010  

Stuart R. Levine

 67 Chairman and CEO, Stuart
Levine and Associates LLC
 Yes  þ  C  2007  

Maura A. Markus

 56 Former President and COO,
Bank of the West
 Yes  þ þ   2013  

Thomas J. Perna

 63 Former Chairman and CEO,

Quadriserv, Inc.

 Yes  þ  þ  2009  

Alan J. Weber

 65 CEO, Weber Group LLC Yes   þ,F C    2007  

Number of Meetings in Fiscal Year 2014

 5 5 6 4    

(1)Chairman of the Board
(2)President and CEO
(3)Rotating off the Board when her term expires on November 13, 2014 due to an age limitation in our Corporate Governance Principles
CCommittee Chair
FAudit Committee Financial Expert

Board Leadership Structure

Our Corporate Governance Principles do not specify a policy with respect to the separation of the positions of Chairman and Chief Executive Officer or with respect to whether the Chairman should be a member of management or a non-management director. The Board recognizes that there is no single, generally accepted approach to providing Board leadership, and given the dynamic and competitive environment in which we

operate, the Board’s leadership structure may vary as circumstances warrant. The Board has determined that the leadership of the Board is currently best conducted by a Chairman. The Chairman provides overall leadership to the Board in its oversight function, while the Chief Executive Officer, Mr. Daly, provides leadership with respect to the day-to-day management and operation of our business. We believe the separation of the offices allows the Chairman to focus on managing Board matters and allows Mr. Daly to focus on managing our business. In addition, we believe the separation of the offices enhances the objectivity of the Board in its management oversight role. To further enhance the objectivity of the Board, the director nominees, other than Mr. Daly, are independent.

The Board is currently led by our independent Chairman, Mr. Brun. Therefore, the Board does not believe that the appointment of a designated lead independent director is necessary and the Board currently has not appointed a lead independent director. The Board believes that having an independent Chairman vested with key duties and responsibilities and three independent Board committees chaired by independent directors provides a formal structure for strong independent oversight of the Company’s management team. The independent Chairman has the following duties and responsibilities:

advising the independent directors with respect to the quality, quantity and timeliness of information provided by Company management to the Board, and with respect to including items on the agendas of Board meetings;

developing agendas for, and presiding over executive sessions of, the Board’s independent directors; and

discussing with senior management on behalf of the independent directors such matters which, in the judgment of the Chairman, merit the attention of senior management.

Committees of the Board

Audit Committee

The Board of Directors has determined that each of the members of the Audit Committee is independent as defined by NYSE Listing Standards and the rules of the SEC applicable to audit committee members, and that Mr. Haviland and Mr. Weber qualify as audit committee financial experts as defined in the applicable SEC rules.

The Audit Committee has a charter under which its responsibilities and authorities include assisting the Board in overseeing the:

Company’s systems of internal controls regarding finance, accounting, legal and regulatory compliance;

Company’s auditing, accounting and financial reporting processes generally;

integrity of the Company’s financial statements and other financial information provided by the Company to its stockholders and the public;

Company’s compliance with legal and regulatory requirements; and

performance of the Company’s Internal Audit Department and independent registered public accountants.

In addition, in the performance of its oversight duties and responsibilities, the Audit Committee also reviews and discusses with management the Company’s quarterly financial statements and earnings press releases as well as financial information and earnings guidance included therein; reviews periodic reports from management covering changes, if any, in accounting policies, procedures and disclosures, and management’s assessment of the effectiveness of internal control over financial reporting to ensure compliance with Section 404 of the Sarbanes-Oxley Act of 2002; and reviews and discusses with the Company’s internal auditors and with its independent registered public accountants the overall scope and plans of their respective audits.

In connection with the Company’s risk oversight process, the Audit Committee reviews and discusses with management the Company’s major financial and certain compliance risk exposures and the steps management has taken to monitor and control such exposures (including management’s risk assessment and risk management policies).

The Report of the Audit Committee is included on page 79 of this Proxy Statement. The Audit Committee’s charter is available on the Company’s website atwww.broadridge.com under the heading “Investor Relations—Corporate Governance.”

Compensation Committee

The Board of Directors has determined that each member of the Compensation Committee is “independent” as defined by NYSE Listing Standards. In addition, each member of the Compensation Committee is independent for purposes of the applicable SEC and tax rules. The Compensation Committee has a charter under which its responsibilities and authorities include:

reviewing the Company’s compensation strategy;

reviewing the performance of the senior management;

reviewing the risks associated with the Company’s compensation programs;

approving the compensation of the Chief Executive Officer; and

reviewing and making recommendations to the Board regarding the compensation of all other executive officers.

In addition, the Compensation Committee administers the Company’s equity-based compensation plans and takes such other action as may be appropriate or as directed by the Board of Directors to ensure that the compensation policies of the Company are reasonable and fair.

As necessary, the Compensation Committee consults with Frederic W. Cook & Co. (“Cook & Co.”) as its independent compensation consultant to advise on matters related to our executive officers’ and directors’ compensation and general compensation programs. Cook & Co. assists the Compensation Committee by providing comparative market data on compensation practices and programs. Cook & Co. also provides guidance on industry best practices, the design of incentive plans and other indirect elements of our overall compensation program, the setting of performance goals, and the drafting of compensation-related disclosures. For further discussion of the roles of the Compensation Committee and Cook & Co., please see the section of this Proxy Statement entitled “Compensation Discussion and Analysis” beginning on page 34.

The Compensation Committee Report is included on page 59 of this Proxy Statement. The Compensation Committee’s charter is available on the Company’s website atwww.broadridge.com under the heading “Investor Relations—Corporate Governance.”

Governance and Nominating Committee

The Board of Directors has determined that each member of the Governance and Nominating Committee is independent as defined by NYSE Listing Standards.

The Governance and Nominating Committee has a charter, under which its responsibilities and authorities include:

identifying individuals qualified to become Board members and recommending that the Board select a group of director nominees for each annual meeting of the Company’s stockholders;

ensuring that the Audit, Compensation and Governance and Nominating Committees of the Board of Directors shall have the benefit of qualified and experienced independent directors; and

developing and recommending to the Board a set of effective corporate governance policies and procedures applicable to the Company.

The Corporate Governance Principles and the Governance and Nominating Committee’s charter is available on the Company’s website atwww.broadridge.com under the heading “Investor Relations—Corporate Governance.”

Nomination Process

When seeking candidates for director, the Governance and Nominating Committee may solicit suggestions from incumbent directors, management, stockholders or others. While the Governance and Nominating Committee has authority under its charter to retain a search firm for this purpose, no such firm has been retained. After conducting an initial evaluation of a potential candidate, the Governance and Nominating Committee will interview that candidate if it believes such candidate might be suitable to be a director. The candidate may also meet with members of the Board other than the members of the Governance and Nominating Committee. At the candidate’s request, they may also meet with management. If the Governance and Nominating Committee believes a candidate would be a valuable addition to the Board, it will recommend to the full Board that candidate’s election.

The Governance and Nominating Committee selects each nominee based on the nominee’s skills, achievements and experience. The Corporate Governance Principles provide that director nominees should have experience in positions with a high degree of responsibility, be leaders in the companies or institutions with which they are affiliated, and be selected based upon contributions they can make.

The Governance and Nominating Committee considers a variety of factors in selecting candidates. The minimum characteristics that the Governance and Nominating Committee believes must be met include: independence, wisdom, integrity, an understanding and general acceptance of the Company’s corporate philosophy, valid business or professional knowledge and experience, a proven record of accomplishment with excellent organizations, an inquiring mind, a willingness to speak one’s mind, an ability to challenge and stimulate management, and a willingness to commit time and energy.

In making its selection of candidates to recommend for election, the Corporate Governance Principles provide that the Board seeks members from diverse professional, racial, cultural, ethnic and gender backgrounds that combine a broad spectrum of experience and expertise with a reputation for integrity. Exceptional candidates who do not meet all of these criteria may still be considered.

This year, due to an age limitation for election to the Board in the Corporate Governance Principles, Sandra S. Jaffee is not standing for re-election and will be rotating off the Board. Her term will expire following the Annual Meeting on November 13, 2014.

The Corporate Governance Principles do not provide for a fixed number of directors, but provide that the optimum size of the Company’s Board of Directors is 8 to 12 directors.

Stockholders who wish to submit nominees for election at an annual or special meeting of stockholders should follow the procedure described on page 82. The Governance and Nominating Committee will apply the same standards in considering candidates submitted by stockholders as it does in evaluating candidates submitted by members of the Board of Directors.

The Board’s Role in Risk Oversight

The Company’s management is responsible for managing risks affecting the bank, broker-dealerCompany, including identifying, assessing and corporate issuer solutions businessesappropriately mitigating risk. The responsibilities of our Investor Communications segment. Mr. Schifellite joined ADP’s Brokerage Services Businessthe Board of Directors include oversight of the Company’s risk management processes. The Board of Directors has two primary methods of overseeing risk. The first method is through the Company’s Enterprise Risk Management (“ERM”) process which allows for full Board oversight of the most significant risks facing the Company. The second is through the functioning of the Board’s committees.

Management established the ERM process to ensure a complete Company-wide approach to risk over five distinct but overlapping core areas:

Strategic—the risks that could impede the Company from achieving its strategic vision and goals;

Financial—the risks related to maintaining accurate financial statements, and timely and complete financial disclosures;

Operational—the risks in 1992 as Vice President, Client Services. In 1996, he was promotedthe processes, people and technology the Company employs to Senior Vice Presidentachieve its strategy and General Manager of Investor Communication Services. In 2011, Mr. Schifellite’s title was changed from Corporate Vice President to Corporate Senior Vice President of Broadridge.normal business operations;

Adam D. Amsterdam. Mr. Amsterdam is our Corporate Vice President, General Counsel and Secretary. Mr. Amsterdam is responsible for all legal matters

Compliance—the risks related to the Company. PriorCompany’s legal and regulatory compliance requirements and violations of laws; and

Reputational—the risks that impact the Company’s reputation including failing to meet the spin-off, he served as Associateexpectations of its customers, investors, employees, regulators or the public.

The goal of the ERM process is to provide an ongoing process, effected at all levels of the Company across each business unit and corporate function, to identify and assess risk, monitor risk, and agree on mitigating action. Central to Broadridge’s risk management process is its risk committee, which oversees management’s identification and assessment of the key risks in the Company, and reviews the controls management has in place with respect to these risks. The risk committee is comprised of executive officers and senior executives of the Company including the Chief Operating Officer, Chief Financial Officer, General Counsel, Chief Information Officer, and Staff Vice President of ADP since January 2006. Mr. Amsterdam joined ADP in 1991 as Corporate Counsel responsible for the Brokerage Services business. In 1994, he was promoted to Senior Corporate Counsel of ADP. Mr. Amsterdam was promoted in 1996 to Assistant General Counsel and then again in 2002 to Associate General Counsel of ADP.

Maryjo T. Charbonnier. Ms. Charbonnier is our Corporate Vice President, Human Resources. She is responsible for all aspectsThe risk committee communicates the results of human resources within Broadridge. She joined the Company in August 2008 and was promoted to her current role in June 2009. Prior to joining Broadridge, Ms. Charbonnier held many senior human resource positions at PepsiCo, Inc. in the United States, Canada and Mexico over a 13-year period. In her last role at PepsiCo, she was the Vice President of Talent Sustainability PepsiCo Foods and she led the talent management strategy and implementation for PepsiCo’s largest division.

Lyell Dampeer. Mr. Dampeer is our Corporate Vice President, U.S. Investor Communication Solutions. He is responsible for our U.S. regulatory communication services, and for transaction reporting and electronic communication services. Priorits work directly to the appointment to his current role in 2012, Mr. Dampeer served asChief Executive Officer and the head of our U.S. regulatory communications services including post-sale fulfillment from 2009. Mr. Dampeer joined ADP’s Brokerage Services Group in 2000 as Vice President, Client Services. Prior to that, he held a variety of senior management positions at companies providing outsourcing services.

Douglas R. DeSchutter. Mr. DeSchutter is our Corporate Vice President, U.S. Regulatory and Digital Communications. Mr. DeSchutter’s responsibilities include our U.S. regulatory communication services (proxy and prospectus) and our digital strategy. Prior to the appointment to his current role in 2012, Mr. DeSchutter was responsible for our customer communication services from 2009, including transaction reporting, electronic communications, document management, and new account processing solutions. Mr. DeSchutter was theBoard. The Chief Strategy and Business DevelopmentExecutive Officer, for Broadridge, responsible for mergers and acquisitions and strategy, from 2007 to 2009. Prior to the spin-off, Mr. DeSchutter served as Vice President of Corporate Development for ADP from 2002 until he was promoted to Staff Vice President of Corporate Development in 2006. Prior to joining ADP in 2002, he was Vice President of Mergers & Acquisitions at Lehman Brothers focusing on the technology sector.

Robert F. Kalenka. Mr. Kalenka is our Corporate Vice President, Global Procurement and Facilities. In addition to being responsible for global procurement and facilities, he is responsible for the operations of our Investor Communication Solutions business. Mr. Kalenka joined ADP’s Brokerage Services Business in 1992 in the Investor Communication Services Division as Director of Finance. He was promoted to Vice President of Operations of the Investor Communication Services Division in 1994, and again as Chief Operating Officer, and Senior Vice PresidentChief Financial Officer meet regularly to discuss specific risks and the Company’s risk management processes.

In addition, the Board and the Audit and Compensation Committees of the Investor Communication Services Division in 1999.Board oversee specific areas of risk as follows:

Charles J. Marchesani

The full Board has oversight responsibility of the Company’s Strategic, Operational, and Reputational risks.

The Chief Financial Officer updates the full Board on the Strategic, Reputational and non-information technology Operational risks.

The Chief Information Officer updates the full Board on information technology Operational risks.

The Audit Committee has oversight responsibility of the Company’s Financial and Compliance risks (other than compensation program design risk). Mr. Marchesani is our

The Chief Financial Officer, Corporate Controller and Treasurer update the Audit Committee on the Financial risks.

The Chief Financial Officer, Corporate Controller, General Counsel, and other business and finance executives update the Audit Committee on the Compliance risks.

The Compensation Committee has oversight responsibility of the Company’s compensation program design risk.

The Corporate Vice President, Securities Processing Solutions. HeHuman Resources updates the Compensation Committee on compensation program design risk.

The Chairs of the Audit Committee and Compensation Committee may address risks directly with management, or, where appropriate, may elevate a risk for consideration by the full Board. The ERM process and the full Board and committee approach to risk management leverages the Board’s leadership structure to ensure that risk is responsibleoverseen by the Board on both a Company-wide approach and through specific areas of competency.

Risk Assessment of Compensation Programs

With the assistance of Cook & Co., the Compensation Committee reviews our compensation programs for all Broadridge employees on an annual basis. The Committee concluded that our securities processing servicescompensation programs do not create risks that are reasonably likely to have a material adverse effect on the Company.

The key design features in our compensation programs that support this conclusion are:

The mix between fixed and variable compensation, annual and long-term compensation, and cash and equity compensation are designed to encourage strategies and actions that are in Broadridge’s and our stockholders’ long-term best interests.

Stock options and performance-based restricted stock units (“RSU”) provide for significant long-term wealth creation for executive officers only when we provide consistent total shareholder return (as reflected in an increase in our common stock price and quarterly dividend payments) over a sustained period.

Long-term compensation is designed to reward executives for creating sustained increases in stockholder value over a multiple year period. The multiple year vesting periods of 2.5 to four years for equity compensation awards encourage executives to focus on sustained stock price appreciation.

Incentive awards are determined based on a review of a variety of financial and non-financial indicators of performance, which diversifies the risk associated with any single performance measure.

The Compensation Committee reviews and approves executive officer objectives to ensure that goals are aligned with the Company’s business plans, achieve the proper risk/reward balance, and do not encourage unnecessary or excessive risk taking.

Annual and long-term incentive awards have a cap on the maximum payment and design features intended to balance pay for performance within appropriate time periods.

The Compensation Committee has the ability to use its discretion to reduce earned incentive awards based on a subjective evaluation of each individual’s performance against strategic and leadership objectives and other factors.

We maintain a clawback policy that requires the reimbursement by an executive officer of cash or equity incentive compensation earned by any executive officer in connection with a restatement of our financial statements due to material noncompliance with financial reporting requirements.

Officer Stock Ownership Guidelines are in place for all of the Company’s executive officers, including the Named Executive Officers listed on page 34, providing the goal that executive officers accumulate shares of our common stock at least equal in value to two to six times their current annual base salary.

Officer Stock Retention and Holding Period Guidelines are in place providing the goal that all executive officers, including the Named Executive Officers listed on page 34, retain at least 50% of the net profit shares realized from stock option exercises and RSU vesting in the U.S. Mr. Marchesani joined ADP’s Brokerage Services Business in 1992 in the Market Data Services Division as Director of the Help Desk and served in various roles of increasing responsibility within the Brokerage Processing Services business until he was promoted to General Manager of the Brokerage Processing Services business in 2005.

Stephen G. Racioppo. Mr. Racioppo is our Corporate Vice President, Chief Revenue Officer. He is responsible for increasing sales momentum, building robust solutions offerings and enhancing Broadridge’s marketplace thought leadership. Prior to joining Broadridge, from 1974 to 2008, Mr. Racioppo was a Senior Managing Director at Accenture plc where he led the financial services consulting, technology and outsourcing businesses in North America and Asia Pacific. This included responsibility for $1.2 billion in annual revenues, $2 billion in contract value of sales annually, and over 3,000 people. Across his 35-year career at Accenture, Mr. Racioppo drove sales and opportunities in dozens of countries, led significant change in Accenture’s account management process, led the structuring and negotiating for many of Accenture's most innovative deals, and successfully managed some of the earliest and largest outsourcing deals. More recently, from 2009 to 2012, Mr. Racioppo served as Chief Operating Officer at TLO, an innovative high-tech, big data fusion company that invents and builds investigative products and solutions focused on risk, fraud and compliance for commercial and public sector markets.

Gerard F. Scavelli. Mr. Scavelli is our Corporate Vice President, Investor Communication Solutions-Mutual Funds. He is responsible for the mutual fund solutions businessesform of our Investor Communication Solutions segment. Mr. Scavelli joined ADP’s Brokerage Services Businesscommon stock. These net profit shares must be held indefinitely if the executive officer has not met the stock ownership guideline and must be held for a minimum of one year if the executive officer has met the ownership guideline.

A Pre-Clearance and Insider Trading Policy is in 1997 as Vice Presidentplace that requires pre-approval of Business Development. In 1999, he was promoted to Senior Vice Presidentany transactions in our common stock by executive officers and General Managerdirectors and prohibits the hedging or pledging of Information Distribution Services, and again in 2008 as Senior Vice President and General Manager of mutual fund services. In 2009, Mr. Scavelli was promoted to his current role.

Dan Sheldon. Mr. Sheldon is our Corporate Vice President and Chief Financial Officer. He joined ADP in 1984 as Director of Internal Audit. During his tenure with ADP, he held various senior financial management positions in most of the major business units, including as Chief Financial Officer of the Brokerage Services Business of ADP. Mr. Sheldon was appointed Corporate Vice President and Controller of ADP in June 2003. In addition to his role as Controller, he was responsible for ADP’s shared services operations and finance information systems.

stock.

OWNERSHIP OF COMMON STOCK BYCommunications with the Board of Directors

MANAGEMENT AND CERTAIN BENEFICIAL OWNERSAll interested parties who wish to communicate with the Board of Directors or any of the non-management directors, may do so by sending a letter to the Secretary, Broadridge Financial Solutions, Inc., 1981 Marcus Avenue, Lake Success, New York 11042, and should specify the intended recipient or recipients. All such communications, other than unsolicited commercial solicitations or communications, will be forwarded to the appropriate director or directors for review. Any such unsolicited commercial solicitation or communications not forwarded to the appropriate director or directors will be available to any non-management director who wishes to review it. The Governance and Nominating Committee, on behalf of the Board, will review any letters it may receive concerning the Company’s corporate governance processes and will make recommendations to the Board based on such communications.

Code of Business Conduct and Code of Ethics

The following table showsCompany has adopted a Code of Business Conduct and Ethics (the “Code of Business Conduct”) and a Code of Ethics for Principal Executive Officer and Senior Financial Officers (the “Code of Ethics”) which applies, among others, to the number of shares of Common Stock beneficially owned by each director, each director nominee, and eachCompany’s principal executive officer, named inprincipal financial officer and controller. The Company will post on its website any amendment to the Summary Compensation Table,Code of Business Conduct or the Code of Ethics and by allany waiver of the Code of Business Conduct or the Code of Ethics granted to any of its directors andor executive officers as a group.to the extent required by applicable rules.

The information set forth below is asWebsite Access to Corporate Governance Documents

Copies of July 31, 2013,the Corporate Governance Principles, Code of Business Conduct, Code of Ethics and is based upon information suppliedthe Charters of the Committees of the Board of Directors are available on our corporate website atwww.broadridge.com under the heading “Investor Relations—Corporate Governance” or confirmed by writing to the named individuals. The address of each person named in the table below is c/oSecretary, Broadridge Financial Solutions, Inc., 1981 Marcus Avenue, Lake Success, New York 11042.

Certain Relationships and Related Transactions

Beneficial Owner

  Common Shares (1) (2) (3)   Percent of Common
Shares
 

Leslie A. Brun

   105,846     *  

Richard J. Daly (4)

   1,988,381     1.7

Robert N. Duelks

   54,017     *  

Timothy C. Gokey

   269,613     *  

Richard J. Haviland (5)

   101,602     *  

John Hogan

   1,121,667     *  

Sandra S. Jaffee

   36,917     *  

Stuart R. Levine

   97,779     *  

Maura A. Markus

   11,798    

Thomas J. Perna

   57,017     *  

Robert Schifellite

   434,966     *  

Dan Sheldon

   558,125     *  

Alan J. Weber

   95,317     *  

All directors, director nominees, and executive officers as a group (22 persons including those directors and executive officers named above) (6)

   6,672,218     5.6

The Audit Committee of the Board of Directors is responsible for reviewing and evaluating the Company’s transactions with persons who are related to the Company such as a director, executive officer of the Company, or an immediate family member of a director or executive officer of the Company. In addition, the Code of Business Conduct prohibits Company personnel, including members of the Board of Directors from exploiting their positions or relationships with Broadridge for personal gain. In that regard such personnel must avoid:

 

*Represents beneficial ownership of less than 1% of the issued and outstanding shares of Common Stock.
(1)Includes unrestricted Common Stock over which each director or executive officer has sole voting and investment power.
(2)Amounts reflect vested stock options and stock options that will vest within 60 days of July 31, 2013. If shares are acquired, the director or executive officer would have sole discretion as to voting and investment. The shares beneficially owned include: (i) the following shares subject to such options granted to the following directors and executive officers: 95,281 (Mr. Brun); 1,753,281 (Mr. Daly); 45,025 (Mr. Duelks); 249,817 (Mr. Gokey); 81,325 (Mr. Haviland); 1,075,609 (Mr. Hogan); 29,925 (Ms. Jaffee); 81,325 (Mr. Levine); 10,102 (Ms. Markus); 45,025 (Mr. Perna); 384,106 (Mr. Schifellite); 484,382 (Mr. Sheldon); and 81,325 (Mr. Weber); and (ii) 5,940,890 shares subject to such options granted to all directors and executive officers as a group.
(3)Amounts provided for each director, other than Mr. Daly, include deferred stock unit (“DSU”) awards which are fully vested upon grant, and will settle as shares of Common Stock upon the director’s separation from service on the Board. The DSUs are credited with dividend equivalents in the form of additional DSUs on a quarterly basis as dividends are declared
causing Broadridge to engage in business transactions with relatives or friends;

using non-public Broadridge, client or vendor information for personal gain by the Broadridge Board.
(4)Includes 43,000 shares of Common Stock held by the EED 2012 Trust and 43,000 shares of Common Stock held by the KLD 2012 Trust. Mr. Daly and his wife are co-trustees of both trusts.
(5)Includes 13,285 shares of Common Stock held in two trusts in which Mr. Haviland and his wife are co-trustees.
(6)J. Peter Benzie ceased to be an executive officer effective June 30, 2013; his ownership is not included in this table. Joseph Barra ceased to be an executive officer effective August 30, 2013; his ownership is included in this table.

The following table sets forth, as of July 31, 2013, the amount of beneficial ownership of each beneficial owner ofemployee, their relatives or friends (including securities transactions based on such information);

having more than five percent (5%)a modest financial interest in Broadridge’s vendors, clients or competitors;

receiving a loan, or guarantee of obligations, from Broadridge or a third party as a result of their positions at Broadridge; or

competing or preparing to compete, with Broadridge while still employed by Broadridge.

The Code of Business Conduct provides that there shall be no waiver of any part of the Common Stock:Code of Business Conduct, except by a vote of the Board of Directors or a designated committee, which will ascertain whether a waiver is appropriate and ensure that the waiver is accompanied by appropriate controls designed to protect Broadridge.

Beneficial Owner

  Number of
CommonShares
BeneficiallyOwned
   Percentage of
CommonShares
Beneficially Owned
 

BlackRock, Inc. (1)

   8,181,976     6.87

Harris Associates L.P. and Harris Associates Inc. (2)

   7,956,860     6.68

Artisan Partners Holdings LP and Artisan Partners Limited Partnership (3)

   7,249,652     5.82

The Vanguard Group, Inc. (4)

   6,902,168     5.80

(1)Based on the information contained in Amendment No. 3 to Schedule 13G filed on February 6, 2013 by BlackRock, Inc. (“BlackRock”), which amends the Schedule 13G filing made by BlackRock on January 29, 2010, as amended by Amendment No. 1 to Schedule 13G filed with the SEC on February 3, 2011, as further amended by Amendment No. 2 to Schedule 13G filed with the SEC on February 13, 2012. BlackRock reported sole beneficial ownership of 8,181,976 shares of the Company’s Common Stock. The address of BlackRock is 40 East 52nd Street, New York, NY 10022.
(2)Based on information contained in Amendment No. 2 to Schedule 13G filed on February 11, 2013 by Harris Associates L.P. (“Harris”) and Harris Associates Inc., Harris’ general partner (“Harris General Partner”), which amends the Schedule 13G filing made by Harris and Harris General Partner on February 8, 2011, as amended by Amendment No. 1 to Schedule 13G filed with the SEC on February 14, 2012. Harris General Partner, for itself and as a general partner of Harris, reported sole beneficial ownership of 7,956,860 shares of the Company’s Common Stock. The address of Harris and Harris General Partner is Two North LaSalle Street, Suite 500, Chicago, IL 60602-3790.
(3)Based on information contained in Amendment No. 1 to Schedule 13G filed on February 6, 2013 by Artisan Partners Holdings LP (“Artisan Holdings”), Artisan Investment Corporation, the general partner of Artisan Holdings (“Artisan Corp.”), Artisan Partners Limited Partnership (“Artisan Partners”), Artisan Investments GP LLC, the general partner of Artisan Partners (“Artisan Investments”), ZFIC, Inc., the sole stockholder of Artisan Corp. (“ZFIC”), and Andrew A. Ziegler and Carlene M. Ziegler, the principal stockholders of ZFIC, which amends the Schedule 13G filing made by such persons and entities on February 7, 2012. Each of these persons and entities have beneficial ownership of 7,249,652 shares of the Company’s Common Stock and have shared dispositive power with respect to 7,249,652 shares of the Company’s Common Stock and shared voting power with respect to 6,969,760 shares of the Company’s Common Stock. The address of Artisan Holdings, Artisan Corp., Artisan Partners, Artisan Investments, ZFIC, Mr. Ziegler and Ms. Ziegler is 875 East Wisconsin Avenue, Suite 800, Milwaukee,WI 53202.
(4)Based on information contained in a Schedule 13G filed on February 13, 2013 by The Vanguard Group, Inc. (“Vanguard Group”). Vanguard Group reported that it has beneficial ownership of 6,902,168 shares of the Company’s Common Stock, which includes 84,496 shares beneficially owned by Vanguard Fiduciary Trust Company, a wholly owned subsidiary of Vanguard Group, as a result of its serving as investment manager of collective trust accounts and 5,800 shares beneficially owned by Vanguard Investments Australia, Ltd, a wholly owned subsidiary of Vanguard Group, as a result of its serving as an investment manager. The Vanguard Group has sole voting power with respect to 92,296 shares of the Company’s Common Stock, sole dispositive power with respect to 6,815,672 shares of the Company’s Common Stock and shared dispositive power with respect to 84,496 shares of the Company’s Common Stock. The address of Vanguard Group is 100 Vanguard Blvd., Malvern, PA 19355.

DIRECTOR COMPENSATION

The compensation of our non-management directors is determined by the Compensation Committee. The table below sets forth cash and equity compensation paid to our non-management directors (including our independent Chairman) inIn the fiscal year ended June 30, 2013.2014, the Company did not engage in any transaction with a related person in which the amount involved exceeded $120,000.

Director Attendance at Annual Meetings

The Company does not have a formal policy with regard to the directors’ attendance at annual meetings of stockholders. Generally, however, Board and committee meetings are held the same day as the annual meeting of stockholders, with directors attending the annual meeting. All of the directors then in office attended the Company’s 2013 annual meeting of stockholders.

MANAGEMENT

Directors and Executive Officers

The following table sets forth information regarding individuals who serve as our executive officers. Information about the individuals who serve as our directors are non-management directors, other than Mr. Daly, who is our Chief Executive Officer. Mr. Daly’s compensation as Chief Executive Officer is reflectedset forth in the “Summary Compensation Table”“Proposal 1—Election of Directors—Information About the “Executive Compensation”Nominees” section of this Proxy Statement.

Name

AgePosition(s)

Richard J. Daly

61President and Chief Executive Officer, Director

Timothy C. Gokey

53Corporate Senior Vice President and Chief Operating Officer

Christopher J. Perry

52Corporate Senior Vice President, Global Sales, Marketing and
Client Solutions

Robert Schifellite

56Corporate Senior Vice President, Investor Communication
Solutions

Adam D. Amsterdam

53Corporate Vice President, General Counsel and Secretary

Maryjo T. Charbonnier

44Corporate Vice President, Human Resources

Lyell Dampeer

63Corporate Vice President, U.S. Investor Communication
Solutions

Douglas R. DeSchutter

44Corporate Vice President, U.S. Regulatory and Digital
Communications

Robert F. Kalenka

51Corporate Vice President, Global Procurement and Facilities

Charles J. Marchesani

54Corporate Vice President, Securities Processing Solutions

Gerard F. Scavelli

59Corporate Vice President, Investor Communication Solutions-
Mutual Funds

James M. Young

43Corporate Vice President and Chief Financial Officer

Richard J. Daly. Mr. Daly does not receive any separate cash or equity compensation for his participation on the Broadridgeis our President and Chief Executive Officer and a member of our Board of Directors.

The table below on non-management director compensation includes Mr. Daly’s biographical information is set forth in the following compensation elements:“Proposal 1—Election of Directors—Information About the Nominees” section of this Proxy Statement.

Timothy C. Gokey. Mr. Gokey is our Corporate Senior Vice President and Chief Operating Officer with responsibility for all Broadridge’s business units. Previously, he served as Broadridge’s Chief Corporate Development Officer and was responsible for the Company’s growth initiatives, including sales and marketing, strategy, mergers and acquisitions, partnerships, and other growth-related activities. Prior to joining Broadridge in 2010, Mr. Gokey was President of the Retail Tax business at H&R Block from 2004. Prior to joining H&R Block, Mr. Gokey spent 13 years at McKinsey and Company, a global consulting firm, most recently as a partner of the firm. At McKinsey, Mr. Gokey served over two dozen Fortune 500 and 1000 companies primarily in the financial services industry. He also led McKinsey’s North American Financial Services Marketing Practice.

Christopher J. Perry. Mr. Perry is our Corporate Senior Vice President, Global Sales, Marketing and Client Solutions. He joined Broadridge in September 2014 after more than 25 years of experience in banking, brokerage and financial information services. Most recently, he was Global Managing Director of Risk for the Financial & Risk division of Thomson Reuters. In this role, he was the general manager of a global segment which includes Governance, Risk, Compliance, Pricing, Valuation and Reference Services. Over the previous

14 years, Mr. Perry held numerous roles at Thomson Reuters and its predecessor, Thomson Financial. From 2011 to 2013, he was President, Global Sales & Account Management at the Financial & Risk division of Thomson Reuters. From 2006 to 2010, he served as President, Americas for Thomson Reuters and its predecessor, Thomson Financial. Earlier in his career, Mr. Perry worked for A-T Financial and PC Quote, after spending many years in institutional trading and retail brokerage with Kemper Financial’s Blunt Ellis & Loewi unit.

Cash Compensation. In fiscal year 2013,2014, non-management directors, other than our independent Chairman, Mr. Brun, received an annual retainer of $60,000$65,000 and meeting fees of $1,500 for each Board meeting and $1,500 for each committee meeting attended (even ifattended. The meeting fees are paid irrespective of whether meetings are held on the same date). A non-management director’sdate; and attendance at Board or committee meetings by telephone results in payment of one-half of the standard meeting fee. The Chairs of the Audit, Compensation, and Governance and Nominating Committees each received an additional annual retainer of $10,000 per year. Our independent Chairman of the Board received a retainer of $120,000 with no additional paymentsbut does not receive meeting fees for meeting attendance during fiscal year 2013. participation in Board or committee meetings.

All retainers and meeting fees are paid in cash on a quarterly basis. The non-management directors are also reimbursed for their reasonable expenses in connection with attending Board of Director and committee meetings and other Company events.

Directors may elect to defer 100% of their retainers and meeting fees which are credited into a notional account in the form of phantom shares of Broadridge Common Stock.common stock. This election is made annually prior to the beginning of the calendar year in which the retainers and fees are earned and is irrevocable for the entire calendar year. Accounts are adjusted to reflect changes in value over time based on the growthchange in Broadridge’s stock price and are also credited with dividend equivalents in the form of additional phantom shares on a quarterly basis as cash dividends are declared by the Broadridge Board. Participants receive distributions of the value of their notional accounts in cash following their departure from the Board of Directors.

Equity Compensation. Non-management directors received an annual grant of stock options and deferred stock units (“DSUs”) under the 2007 Omnibus Award Plan (the “Omnibus Plan”). The non-management directors, other than our during fiscal year 2014. Our independent Chairman, Mr. Brun, received equity awards with a target value of $115,000. Mr. Brun$180,000, and the other non-management directors each received equity awards with a target value of $180,000 during fiscal year 2013.$120,000. The equity target value is split equally between grants of stock options and DSUs. The number of shares comprising each director’s equity awards is determined at the time of grant based on a 30-day average stock price and, for stock options, the binomial value. The equity target value is split equally between stock options and DSUs. Beginning in fiscal year 2013, the Committee moved the date of equity grants to the non-management directors from May to November; awards are now made each year on the date of the annual meeting of stockholders to coincide with the start of each director’s term.

All stock options are granted with an exercise price equal to the closing price of Broadridge Common Stockcommon stock on the date of the grant. All options granted to our non-management directors are fully vested upon grant, and have a term of 10 years. On November 15, 2012, each non-management member of the Board, other than14, 2013, our independent Chairman, Mr. Brun, was granted 12,07416,262 options with an exercise price of $36.35 per share, and the other non-management directors were each granted 10,841 stock options with an exercise price of $22.67 per share. Mr. Brun was granted 18,899 options with an exercise price of $22.67$36.35 per share. Following separation from service on the Board, stock options held by directors expire at the earlier of the expiration of the option term orand three years.

All DSUs are granted at the same time as stock options, are fully vested upon grant, and will settle as shares of Common Stockcommon stock upon the director’s separation from service on the Board. DSUs are credited with dividend equivalents in the form of additional DSUs on a quarterly basis as dividends are declared by the Broadridge Board. On November 15, 2012, each non-management member of the Board, other than14, 2013, our independent Chairman Mr. Brun was granted 2,4942,712 DSUs, and the other non-management directors were each granted 1,808 DSUs. Mr. Brun was granted 3,904 DSUs.

It is the Compensation Committee’s policy that directors appointed between annual meetings of stockholders will be granted prorated equity awards. Maura A. Markus joined the Broadridge Board in March 2013, and was granted prorated awards of 10,102 stock options with an exercise price of $26.00 per share, and 1,685 DSUs on May 9, 2013.

The stock ownership requirements for the Company’s non-management directors provide that each non-management director is expected to accumulate an amount of the Company’s Common Stock at leastcommon stock equal in value to at

least five times their annual cash retainer. In addition, the directors are required to hold 100% of their shares received upon exercise of stock options, net of their exercise price, tax liability, and transaction costs, until their separation from service on the Board. DSUs do not settle as shares of Common Stockcommon stock until a director’s separation from service on the Board. Because of the holding requirement, there is no minimum time period in which the directors are required to achieve the stock ownership multiple. All directors are making progress toward meeting the ownership multiple.

Other Compensation. Non-management directors may participate in the Broadridge Director & Officer Matching Gift Program on the same terms as the Company’s executive officers. Under this program, a charitable foundation established and funded by the Company (the “Broadridge Foundation”) contributes an equal amount to any qualified tax-exempt organization that a director supports up to a maximum Company contribution of $10,000 per calendar year.

The non-management directors are also reimbursed for their reasonable expenses in connection with attending Board and committee meetings and other Company events.

Fiscal Year 20132014 Non-Management Director Compensation

 

Name

  Fees Earned or
Paid in Cash
($) (1)
   Stock Awards
($) (2)
   Option Awards
($) (3)
   All Other
Compensation
($) (4)
   Total
($)
   Fees Earned or
Paid in Cash
($) (1)
   Stock Awards
($) (2)
   Option Awards
($) (3)
   All Other
Compensation
($) (4)
   Total
($)
 

Leslie A. Brun

  $120,000    $94,036    $88,447    $10,000    $312,483    $120,000    $107,833    $89,929    $10,000    $327,762  

Robert N. Duelks

  $79,500    $60,432    $56,506    $10,000    $206,438    $86,750    $72,125    $59,951    $10,000    $228,826  

Richard J. Haviland

  $94,000    $60,432    $56,506    $10,000    $220,938    $92,250    $72,125    $59,951    $10,000    $234,326  

Sandra S. Jaffee(5)

  $82,500    $60,432    $56,506    $10,000    $209,438    $77,000    $72,125    $59,951    $10,000    $219,076  

Alexandra Lebenthal (5)

  $36,750    $1,444    $0    $10,000    $48,194  

Stuart R. Levine

  $93,250    $60,432    $56,506    $9,000    $219,188    $95,250    $72,125    $59,951    $9,000    $236,326  

Maura A. Markus (6)

  $33,000    $43,810    $44,550    $0    $121,360  

Maura A. Markus

  $80,000    $67,802    $59,951    $10,000    $217,753  

Thomas J. Perna

  $82,500    $60,432    $56,506    $0    $199,438    $86,000    $72,125    $59,951    $0    $218,076  

Alan J. Weber

  $92,500    $60,432    $56,506    $10,000    $219,438    $93,750    $72,125    $59,951    $10,000    $235,826  

 

(1)This column reports the amount of cash compensation payable for fiscal year 20132014 Board and committee service. Mr. Brun and Mr. Levine deferred all of their fiscal year 20132014 cash compensation as follows:

 

Name

  Fees Earned
in Cash
($)
   Fees Paid in
Cash
($)
   Fees Deferred
($)
   Number of
Shares of
Phantom Stock
Credited to
Notional
Account
(#)
   Fees Earned
in Cash
($)
   Fees Paid in
Cash
($)
   Fees Deferred
($)
   Number of
Shares of
Phantom Stock
Credited to
Notional
Account
(#)
 

Leslie A. Brun

  $120,000    $0    $120,000    $4,933.5    $120,000    $60,000    $60,000     1,704.0  

Stuart R. Levine

  $93,250    $0    $93,250    $3,820.1    $95,250    $0    $95,250     2,564.6  

 

(2)As required by SEC rules, amounts in this column present the aggregate grant date fair value of DSU awards computed in accordance with Financial Accounting Standards Board’s Accounting Standards Codification 718, Compensation—Stock Compensation (“FASB ASC Topic 718”). See Note 14, “Stock-Based Compensation,” to the Company’s Consolidated Financial Statements for the fiscal year ended June 30, 2014 included in the 2014 Form 10-K, for the relevant assumptions used to determine the valuation of these awards. The total number of DSUs that were outstanding for each non-management director as of June 30, 20132014 is as follows: 9,99912,981 (Mr. Brun); 6,9468,941 (Mr. Duelks); 6,9468,941 (Mr. Haviland); 6,9468,941 (Ms. Jaffee); 0 (Ms. Lebenthal); 6,9468,941 (Mr. Levine); 1,6853,552 (Ms. Markus); 6,9468,941 (Mr. Perna); and 6,9468,941 (Mr. Weber).

(3)

As required by SEC rules, amounts in this column present the aggregate grant date fair value of option awards computed in accordance with FASB ASC Topic 718. See Note 14, “Stock-Based Compensation,” to the Company’s Consolidated Financial Statements for the fiscal year ended June 30, 2014 included in the 2014 Form 10-K, for the relevant assumptions used to determine the valuation of these awards. The total number of

stock options outstanding for each non-management director as of June 30, 2013,2014, all of which are exercisable, is as follows: 95,281111,543 (Mr. Brun); 45,02555,866 (Mr. Duelks); 81,32592,166 (Mr. Haviland); 29,92540,766 (Ms. Jaffee); 9,982 (Ms. Lebenthal); 81,32592,166 (Mr. Levine); 10,10220,943 (Ms. Markus); 45,02555,866 (Mr. Perna); and 81,32592,166 (Mr. Weber).
(4)This column represents Company-paid contributions made to qualified tax-exempt organizations under the Matching Gift Program on behalf of the non-management directors. The Company matches 100% of all contributions made by its non-management directors to qualified tax-exempt organizations, up to a maximum Company contribution of $10,000 per calendar year. Amounts shown reflect total Company matching contributions in eachthe fiscal year.
(5)Ms. Lebenthal served as a memberJaffee is rotating off the Board when her term expires on November 13, 2014 due to an age limitation in our Corporate Governance Principles.

CORPORATE GOVERNANCE

The Board of Directors

The directors hold regular meetings, attend special meetings as required and spend such time on the affairs of the Company as their duties require. Our Corporate Governance Principles provide that directors are expected to attend regular Board meetings in person and to spend the time needed and meet as frequently as necessary to properly discharge their responsibilities. All directors of the Company attended at least 75% of the meetings of the Board of Directors and of the committees on which they served during fiscal year 2014, except that Ms. Jaffee was unable to attend four of the 13 meetings held due to unavoidable conflicts with the meetings of another company’s board on which she serves as a director.

The Board of Directors has three standing committees, each of which is comprised solely of independent directors and is led by an independent Chair: Audit Committee, Compensation Committee, and Governance and Nominating Committee. The independent directors meet in executive sessions during each regular Board meeting and committee meeting. In addition, at least once a year, our independent directors meet to review the Compensation Committee’s annual review of the Chief Executive Officer.

Name

 Age Occupation 

Independent

   

Committee

 Director
Since
 
    

Full Board

 

Audit

 

Compensation

 

Gov &
Nom

 

Leslie A. Brun

 62 Chairman and CEO, SARR
Group, LLC
 Yes (1)      2007  

Richard J. Daly

 61 President and CEO,
Broadridge
 No (2)      2007  

Robert N. Duelks

 59 Retired, Accenture plc Yes  þ þ   2009  

Richard J. Haviland

 68 Retired CFO, ADP Yes  C,F  þ  2007  

Sandra S. Jaffee (3)

 72 Former CEO, Fortent Inc. Yes    

þ

  2010  

Stuart R. Levine

 67 Chairman and CEO, Stuart
Levine and Associates LLC
 Yes  þ  C  2007  

Maura A. Markus

 56 Former President and COO,
Bank of the West
 Yes  þ þ   2013  

Thomas J. Perna

 63 Former Chairman and CEO,

Quadriserv, Inc.

 Yes  þ  þ  2009  

Alan J. Weber

 65 CEO, Weber Group LLC Yes   þ,F C    2007  

Number of Meetings in Fiscal Year 2014

 5 5 6 4    

(1)Chairman of the Board until November 15, 2012.
(6)(2)Ms. Markus joinedPresident and CEO
(3)Rotating off the Board when her term expires on March 1, 2013.November 13, 2014 due to an age limitation in our Corporate Governance Principles

CCommittee Chair
FAudit Committee Financial Expert

EXECUTIVE COMPENSATIONBoard Leadership Structure

COMPENSATION DISCUSSION AND ANALYSIS

This sectionOur Corporate Governance Principles do not specify a policy with respect to the separation of the Proxy Statement explainspositions of Chairman and Chief Executive Officer or with respect to whether the designChairman should be a member of management or a non-management director. The Board recognizes that there is no single, generally accepted approach to providing Board leadership, and given the dynamic and competitive environment in which we

operate, the Board’s leadership structure may vary as circumstances warrant. The Board has determined that the leadership of the Board is currently best conducted by a Chairman. The Chairman provides overall leadership to the Board in its oversight function, while the Chief Executive Officer, Mr. Daly, provides leadership with respect to the day-to-day management and operation of our executive compensation programsbusiness. We believe the separation of the offices allows the Chairman to focus on managing Board matters and allows Mr. Daly to focus on managing our business. In addition, we believe the separation of the offices enhances the objectivity of the Board in its management oversight role. To further enhance the objectivity of the Board, the director nominees, other than Mr. Daly, are independent.

The Board is currently led by our independent Chairman, Mr. Brun. Therefore, the Board does not believe that the appointment of a designated lead independent director is necessary and the Board currently has not appointed a lead independent director. The Board believes that having an independent Chairman vested with key duties and responsibilities and three independent Board committees chaired by independent directors provides a formal structure for strong independent oversight of the Company’s management team. The independent Chairman has the following duties and responsibilities:

advising the independent directors with respect to the quality, quantity and timeliness of information provided by Company management to the Board, and with respect to including items on the agendas of Board meetings;

developing agendas for, and presiding over executive sessions of, the Board’s independent directors; and

discussing with senior management on behalf of the independent directors such matters which, in the judgment of the Chairman, merit the attention of senior management.

Committees of the Board

Audit Committee

The Board of Directors has determined that each of the members of the Audit Committee is independent as defined by NYSE Listing Standards and the rules of the SEC applicable to audit committee members, and that Mr. Haviland and Mr. Weber qualify as audit committee financial experts as defined in the applicable SEC rules.

The Audit Committee has a charter under which its responsibilities and authorities include assisting the Board in overseeing the:

Company’s systems of internal controls regarding finance, accounting, legal and regulatory compliance;

Company’s auditing, accounting and financial reporting processes generally;

integrity of the Company’s financial statements and other financial information provided by the Company to its stockholders and the public;

Company’s compliance with legal and regulatory requirements; and

performance of the Company’s Internal Audit Department and independent registered public accountants.

In addition, in the performance of its oversight duties and responsibilities, the Audit Committee also reviews and discusses with management the Company’s quarterly financial statements and earnings press releases as well as financial information and earnings guidance included therein; reviews periodic reports from management covering changes, if any, in accounting policies, procedures and disclosures, and management’s assessment of the effectiveness of internal control over financial reporting to ensure compliance with Section 404 of the Sarbanes-Oxley Act of 2002; and reviews and discusses with the Company’s internal auditors and with its independent registered public accountants the overall scope and plans of their respective audits.

In connection with the Company’s risk oversight process, the Audit Committee reviews and discusses with management the Company’s major financial and certain compliance risk exposures and the steps management has taken to monitor and control such exposures (including management’s risk assessment and risk management policies).

The Report of the Audit Committee is included on page 79 of this Proxy Statement. The Audit Committee’s charter is available on the Company’s website atwww.broadridge.com under the heading “Investor Relations—Corporate Governance.”

Compensation Committee

The Board of Directors has determined that each member of the Compensation Committee is “independent” as defined by NYSE Listing Standards. In addition, each member of the Compensation Committee is independent for purposes of the applicable SEC and tax rules. The Compensation Committee has a charter under which its responsibilities and authorities include:

reviewing the Company’s compensation strategy;

reviewing the performance of the senior management;

reviewing the risks associated with the Company’s compensation programs;

approving the compensation of the Chief Executive Officer; and

reviewing and making recommendations to the Board regarding the compensation of all other executive officers.

In addition, the Compensation Committee administers the Company’s equity-based compensation plans and takes such other action as may be appropriate or as directed by the Board of Directors to ensure that the compensation policies of the Company are reasonable and fair.

As necessary, the Compensation Committee consults with Frederic W. Cook & Co. (“Cook & Co.”) as its independent compensation consultant to advise on matters related to our executive officers’ and directors’ compensation and general compensation programs. Cook & Co. assists the Compensation Committee by providing comparative market data on compensation practices and programs. Cook & Co. also provides guidance on industry best practices, the design of incentive plans and other indirect elements of our overall compensation program, the setting of performance goals, and the drafting of compensation-related disclosures. For further discussion of the roles of the Compensation Committee and Cook & Co., please see the section of this Proxy Statement entitled “Compensation Discussion and Analysis” beginning on page 34.

The Compensation Committee Report is included on page 59 of this Proxy Statement. The Compensation Committee’s charter is available on the Company’s website atwww.broadridge.com under the heading “Investor Relations—Corporate Governance.”

Governance and Nominating Committee

The Board of Directors has determined that each member of the Governance and Nominating Committee is independent as defined by NYSE Listing Standards.

The Governance and Nominating Committee has a charter, under which its responsibilities and authorities include:

identifying individuals qualified to become Board members and recommending that the Board select a group of director nominees for each annual meeting of the Company’s stockholders;

ensuring that the Audit, Compensation and Governance and Nominating Committees of the Board of Directors shall have the benefit of qualified and experienced independent directors; and

developing and recommending to the Board a set of effective corporate governance policies and procedures applicable to the Company.

The Corporate Governance Principles and the Governance and Nominating Committee’s charter is available on the Company’s website atwww.broadridge.com under the heading “Investor Relations—Corporate Governance.”

Nomination Process

When seeking candidates for director, the Governance and Nominating Committee may solicit suggestions from incumbent directors, management, stockholders or others. While the Governance and Nominating Committee has authority under its charter to retain a search firm for this purpose, no such firm has been retained. After conducting an initial evaluation of a potential candidate, the Governance and Nominating Committee will interview that candidate if it believes such candidate might be suitable to be a director. The candidate may also meet with members of the Board other than the members of the Governance and Nominating Committee. At the candidate’s request, they may also meet with management. If the Governance and Nominating Committee believes a candidate would be a valuable addition to the Board, it will recommend to the full Board that candidate’s election.

The Governance and Nominating Committee selects each nominee based on the nominee’s skills, achievements and experience. The Corporate Governance Principles provide that director nominees should have experience in positions with a high degree of responsibility, be leaders in the companies or institutions with which they are affiliated, and be selected based upon contributions they can make.

The Governance and Nominating Committee considers a variety of factors in selecting candidates. The minimum characteristics that the Governance and Nominating Committee believes must be met include: independence, wisdom, integrity, an understanding and general acceptance of the Company’s corporate philosophy, valid business or professional knowledge and experience, a proven record of accomplishment with excellent organizations, an inquiring mind, a willingness to speak one’s mind, an ability to challenge and stimulate management, and a willingness to commit time and energy.

In making its selection of candidates to recommend for election, the Corporate Governance Principles provide that the Board seeks members from diverse professional, racial, cultural, ethnic and gender backgrounds that combine a broad spectrum of experience and expertise with a reputation for integrity. Exceptional candidates who do not meet all of these criteria may still be considered.

This year, due to an age limitation for election to the Board in the Corporate Governance Principles, Sandra S. Jaffee is not standing for re-election and will be rotating off the Board. Her term will expire following the Annual Meeting on November 13, 2014.

The Corporate Governance Principles do not provide for a fixed number of directors, but provide that the optimum size of the Company’s Board of Directors is 8 to 12 directors.

Stockholders who wish to submit nominees for election at an annual or special meeting of stockholders should follow the procedure described on page 82. The Governance and Nominating Committee will apply the same standards in considering candidates submitted by stockholders as it does in evaluating candidates submitted by members of the Board of Directors.

The Board’s Role in Risk Oversight

The Company’s management is responsible for managing risks affecting the Company, including identifying, assessing and appropriately mitigating risk. The responsibilities of the Board of Directors include oversight of the Company’s risk management processes. The Board of Directors has two primary methods of overseeing risk. The first method is through the Company’s Enterprise Risk Management (“ERM”) process which allows for full Board oversight of the most significant risks facing the Company. The second is through the functioning of the Board’s committees.

Management established the ERM process to ensure a complete Company-wide approach to risk over five distinct but overlapping core areas:

Strategic—the risks that could impede the Company from achieving its strategic vision and goals;

Financial—the risks related to maintaining accurate financial statements, and timely and complete financial disclosures;

Operational—the risks in the processes, people and technology the Company employs to achieve its strategy and normal business operations;

Compliance—the risks related to the Company’s legal and regulatory compliance requirements and violations of laws; and

Reputational—the risks that impact the Company’s reputation including failing to meet the expectations of its customers, investors, employees, regulators or the public.

The goal of the ERM process is to provide an ongoing process, effected at all levels of the Company across each business unit and corporate function, to identify and assess risk, monitor risk, and agree on mitigating action. Central to Broadridge’s risk management process is its risk committee, which oversees management’s identification and assessment of the key risks in the Company, and reviews the controls management has in place with respect to these risks. The risk committee is comprised of executive officers and senior executives of the Company including the Chief Operating Officer, Chief Financial Officer, General Counsel, Chief Information Officer, and Corporate Vice President, Human Resources. The risk committee communicates the results of its work directly to the Chief Executive Officer and the Board. The Chief Executive Officer, Chief Operating Officer, and Chief Financial Officer meet regularly to discuss specific risks and the Company’s risk management processes.

In addition, the Board and the Audit and Compensation Committees of the Board oversee specific areas of risk as follows:

The full Board has oversight responsibility of the Company’s Strategic, Operational, and Reputational risks.

The Chief Financial Officer updates the full Board on the Strategic, Reputational and non-information technology Operational risks.

The Chief Information Officer updates the full Board on information technology Operational risks.

The Audit Committee has oversight responsibility of the Company’s Financial and Compliance risks (other than compensation program design risk).

The Chief Financial Officer, Corporate Controller and Treasurer update the Audit Committee on the Financial risks.

The Chief Financial Officer, Corporate Controller, General Counsel, and other business and finance executives update the Audit Committee on the Compliance risks.

The Compensation Committee has oversight responsibility of the Company’s compensation program design risk.

The Corporate Vice President, Human Resources updates the Compensation Committee on compensation program design risk.

The Chairs of the Audit Committee and Compensation Committee may address risks directly with management, or, where appropriate, may elevate a risk for consideration by the full Board. The ERM process and the full Board and committee approach to risk management leverages the Board’s leadership structure to ensure that risk is overseen by the Board on both a Company-wide approach and through specific areas of competency.

Risk Assessment of Compensation Programs

With the assistance of Cook & Co., the Compensation Committee reviews our compensation programs for all Broadridge employees on an annual basis. The Committee concluded that our compensation programs do not create risks that are reasonably likely to have a material adverse effect on the Company.

The key design features in our compensation programs that support this conclusion are:

The mix between fixed and variable compensation, annual and long-term compensation, and cash and equity compensation are designed to encourage strategies and actions that are in Broadridge’s and our stockholders’ long-term best interests.

Stock options and performance-based restricted stock units (“RSU”) provide for significant long-term wealth creation for executive officers only when we provide consistent total shareholder return (as reflected in an increase in our common stock price and quarterly dividend payments) over a sustained period.

Long-term compensation is designed to reward executives for creating sustained increases in stockholder value over a multiple year period. The multiple year vesting periods of 2.5 to four years for equity compensation awards encourage executives to focus on sustained stock price appreciation.

Incentive awards are determined based on a review of a variety of financial and non-financial indicators of performance, which diversifies the risk associated with any single performance measure.

The Compensation Committee reviews and approves executive officer objectives to ensure that goals are aligned with the Company’s business plans, achieve the proper risk/reward balance, and do not encourage unnecessary or excessive risk taking.

Annual and long-term incentive awards have a cap on the maximum payment and design features intended to balance pay for performance within appropriate time periods.

The Compensation Committee has the ability to use its discretion to reduce earned incentive awards based on a subjective evaluation of each individual’s performance against strategic and leadership objectives and other factors.

We maintain a clawback policy that requires the reimbursement by an executive officer of cash or equity incentive compensation earned by any executive officer in connection with a restatement of our financial statements due to material noncompliance with financial reporting requirements.

Officer Stock Ownership Guidelines are in place for all of the Company’s executive officers, including the Named Executive Officers listed on page 34, providing the goal that executive officers accumulate shares of our common stock at least equal in value to two to six times their current annual base salary.

Officer Stock Retention and Holding Period Guidelines are in place providing the goal that all executive officers, including the Named Executive Officers listed on page 34, retain at least 50% of the net profit shares realized from stock option exercises and RSU vesting in the form of our common stock. These net profit shares must be held indefinitely if the executive officer has not met the stock ownership guideline and must be held for a minimum of one year if the executive officer has met the ownership guideline.

A Pre-Clearance and Insider Trading Policy is in place that requires pre-approval of any transactions in our common stock by executive officers and directors and prohibits the hedging or pledging of our stock.

Communications with the Board of Directors

All interested parties who wish to communicate with the Board of Directors or any of the non-management directors, may do so by sending a letter to the Secretary, Broadridge Financial Solutions, Inc., 1981 Marcus Avenue, Lake Success, New York 11042, and should specify the intended recipient or recipients. All such communications, other than unsolicited commercial solicitations or communications, will be forwarded to the appropriate director or directors for review. Any such unsolicited commercial solicitation or communications not forwarded to the appropriate director or directors will be available to any non-management director who wishes to review it. The Governance and Nominating Committee, on behalf of the Board, will review any letters it may receive concerning the Company’s corporate governance processes and will make recommendations to the Board based on such communications.

Code of Business Conduct and Code of Ethics

The Company has adopted a Code of Business Conduct and Ethics (the “Code of Business Conduct”) and a Code of Ethics for Principal Executive Officer and Senior Financial Officers (the “Code of Ethics”) which applies, among others, to the Company’s principal executive officer, principal financial officer and controller. The Company will post on its website any amendment to the Code of Business Conduct or the Code of Ethics and any waiver of the Code of Business Conduct or the Code of Ethics granted to any of its directors or executive officers to the extent required by applicable rules.

Website Access to Corporate Governance Documents

Copies of the Corporate Governance Principles, Code of Business Conduct, Code of Ethics and the Charters of the Committees of the Board of Directors are available on our corporate website atwww.broadridge.com under the heading “Investor Relations—Corporate Governance” or by writing to the Secretary, Broadridge Financial Solutions, Inc., 1981 Marcus Avenue, Lake Success, New York 11042.

Certain Relationships and Related Transactions

The Audit Committee of the Board of Directors is responsible for reviewing and evaluating the Company’s transactions with persons who are related to the Company such as a director, executive officer of the Company, or an immediate family member of a director or executive officer of the Company. In addition, the Code of Business Conduct prohibits Company personnel, including members of the Board of Directors from exploiting their positions or relationships with Broadridge for personal gain. In that regard such personnel must avoid:

causing Broadridge to engage in business transactions with relatives or friends;

using non-public Broadridge, client or vendor information for personal gain by the employee, their relatives or friends (including securities transactions based on such information);

having more than a modest financial interest in Broadridge’s vendors, clients or competitors;

receiving a loan, or guarantee of obligations, from Broadridge or a third party as a result of their positions at Broadridge; or

competing or preparing to compete, with Broadridge while still employed by Broadridge.

The Code of Business Conduct provides that there shall be no waiver of any part of the Code of Business Conduct, except by a vote of the Board of Directors or a designated committee, which will ascertain whether a waiver is appropriate and ensure that the waiver is accompanied by appropriate controls designed to protect Broadridge.

In the fiscal year ended June 30, 2014, the Company did not engage in any transaction with a related person in which the amount involved exceeded $120,000.

Director Attendance at Annual Meetings

The Company does not have a formal policy with regard to the directors’ attendance at annual meetings of stockholders. Generally, however, Board and committee meetings are held the same day as the annual meeting of stockholders, with directors attending the annual meeting. All of the directors then in office attended the Company’s 2013 annual meeting of stockholders.

MANAGEMENT

Directors and Executive Officers

The following table sets forth information regarding individuals who serve as our executive officers. Information about the individuals who serve as our directors is set forth in the “Proposal 1—Election of Directors—Information About the Nominees” section of this Proxy Statement.

Name

AgePosition(s)

Richard J. Daly

61President and Chief Executive Officer, Director

Timothy C. Gokey

53Corporate Senior Vice President and Chief Operating Officer

Christopher J. Perry

52Corporate Senior Vice President, Global Sales, Marketing and
Client Solutions

Robert Schifellite

56Corporate Senior Vice President, Investor Communication
Solutions

Adam D. Amsterdam

53Corporate Vice President, General Counsel and Secretary

Maryjo T. Charbonnier

44Corporate Vice President, Human Resources

Lyell Dampeer

63Corporate Vice President, U.S. Investor Communication
Solutions

Douglas R. DeSchutter

44Corporate Vice President, U.S. Regulatory and Digital
Communications

Robert F. Kalenka

51Corporate Vice President, Global Procurement and Facilities

Charles J. Marchesani

54Corporate Vice President, Securities Processing Solutions

Gerard F. Scavelli

59Corporate Vice President, Investor Communication Solutions-
Mutual Funds

James M. Young

43Corporate Vice President and Chief Financial Officer

Richard J. Daly. Mr. Daly is our President and Chief Executive Officer and a member of our Board of Directors. Mr. Daly’s biographical information is set forth in the “Proposal 1—Election of Directors—Information About the Nominees” section of this Proxy Statement.

Timothy C. Gokey. Mr. Gokey is our Corporate Senior Vice President and Chief Operating Officer with responsibility for all Broadridge’s business units. Previously, he served as Broadridge’s Chief Corporate Development Officer and was responsible for the Company’s growth initiatives, including sales and marketing, strategy, mergers and acquisitions, partnerships, and other growth-related activities. Prior to joining Broadridge in 2010, Mr. Gokey was President of the Retail Tax business at H&R Block from 2004. Prior to joining H&R Block, Mr. Gokey spent 13 years at McKinsey and Company, a global consulting firm, most recently as a partner of the firm. At McKinsey, Mr. Gokey served over two dozen Fortune 500 and 1000 companies primarily in the financial services industry. He also led McKinsey’s North American Financial Services Marketing Practice.

Christopher J. Perry. Mr. Perry is our Corporate Senior Vice President, Global Sales, Marketing and Client Solutions. He joined Broadridge in September 2014 after more than 25 years of experience in banking, brokerage and financial information services. Most recently, he was Global Managing Director of Risk for the Financial & Risk division of Thomson Reuters. In this role, he was the general manager of a global segment which includes Governance, Risk, Compliance, Pricing, Valuation and Reference Services. Over the previous

14 years, Mr. Perry held numerous roles at Thomson Reuters and its predecessor, Thomson Financial. From 2011 to 2013, he was President, Global Sales & Account Management at the Financial & Risk division of Thomson Reuters. From 2006 to 2010, he served as President, Americas for Thomson Reuters and its predecessor, Thomson Financial. Earlier in his career, Mr. Perry worked for A-T Financial and PC Quote, after spending many years in institutional trading and retail brokerage with Kemper Financial’s Blunt Ellis & Loewi unit.

Robert Schifellite. Mr. Schifellite is our Corporate Senior Vice President, Investor Communication Solutions. He is responsible for the bank, broker-dealer and corporate issuer solutions businesses of our Investor Communications segment. Mr. Schifellite joined ADP’s Brokerage Services Group in 1992 as Vice President, Client Services. In 1996, he was promoted to Senior Vice President and General Manager of Investor Communication Services. In 2011, Mr. Schifellite’s title was changed from Corporate Vice President to Corporate Senior Vice President of Broadridge.

Adam D. Amsterdam. Mr. Amsterdam is our Corporate Vice President, General Counsel and Secretary. Mr. Amsterdam is responsible for all legal matters related to the Company. Prior to the spin-off, he served as Associate General Counsel and Staff Vice President of ADP since January 2006. Mr. Amsterdam joined ADP in 1991 as Corporate Counsel responsible for the Brokerage Services Group. In 1994, he was promoted to Senior Corporate Counsel of ADP. Mr. Amsterdam was promoted in 1996 to Assistant General Counsel and then again in 2002 to Associate General Counsel of ADP.

Maryjo T. Charbonnier. Ms. Charbonnier is our Corporate Vice President, Human Resources. She is responsible for all aspects of human resources within Broadridge. She joined the Company in August 2008 and was promoted to her current role in June 2009. Prior to joining Broadridge, Ms. Charbonnier held many senior human resource positions at PepsiCo, Inc. in the United States, Canada and Mexico over a 13-year period. In her last role at PepsiCo, she was the Vice President of Talent Sustainability PepsiCo Foods and she led the talent management strategy and implementation for PepsiCo’s largest division.

Lyell Dampeer. Mr. Dampeer is our Corporate Vice President, U.S. Investor Communication Solutions. He is responsible for our U.S. regulatory communication services, and for our issuer and transfer agency services. Prior to the appointment to his current role in 2012, Mr. Dampeer served as the head of our U.S. regulatory communications services including post-sale fulfillment from 2009. Mr. Dampeer joined ADP’s Brokerage Services Group in 2000 as Vice President, Client Services. Prior to that, he held a variety of senior management positions at companies providing outsourcing services.

Douglas R. DeSchutter. Mr. DeSchutter is our Corporate Vice President, U.S. Regulatory and Digital Communications. Mr. DeSchutter’s responsibilities include our U.S. regulatory communication services (proxy and prospectus) and our digital strategy. Prior to the appointment to his current role in 2012, Mr. DeSchutter was responsible for our customer communication services from 2009, including transaction reporting, electronic communications, document management, and new account processing solutions. Mr. DeSchutter was the Chief Strategy and Business Development Officer for Broadridge, responsible for mergers and acquisitions and strategy, from 2007 to 2009. Prior to the spin-off, Mr. DeSchutter served as Vice President of Corporate Development for ADP from 2002 until he was promoted to Staff Vice President of Corporate Development in 2006. Prior to joining ADP in 2002, he was Vice President of Mergers & Acquisitions at Lehman Brothers focusing on the technology sector.

Robert F. Kalenka. Mr. Kalenka is our Corporate Vice President, Global Procurement and Facilities. In addition to being responsible for global procurement and facilities, he is responsible for the operations of our Investor Communication Solutions business. In 2014, Mr. Kalenka’s responsibilities were expanded to include responsibility for our transaction reporting, PostEdge, and Imaging and Workflow Solutions businesses. Mr. Kalenka joined ADP’s Brokerage Services Group in 1992 in the Investor Communication Services Division

as Director of Finance. He was promoted to Vice President of Operations of the Investor Communication Services Division in 1994, and again as Chief Operating Officer and Senior Vice President of the Investor Communication Services Division in 1999.

Charles J. Marchesani. Mr. Marchesani is our Corporate Vice President, Securities Processing Solutions. He is responsible for our global technology and operations solutions business. In 2013, his role was expanded to include responsibility for our international securities processing solutions and business process outsourcing solutions businesses. Prior to his current role, Mr. Marchesani was responsible for the U.S. securities processing solutions business. Mr. Marchesani joined ADP’s Brokerage Services Group in 1992 in the Market Data Services Division as Director of the Help Desk and served in various roles of increasing responsibility within the Brokerage Processing Services business until he was promoted to General Manager of the Brokerage Processing Services business in 2005.

Gerard F. Scavelli. Mr. Scavelli is our Corporate Vice President, Investor Communication Solutions-Mutual Funds. He is responsible for the mutual fund solutions businesses of our Investor Communication Solutions segment. Mr. Scavelli joined ADP’s Brokerage Services Group in 1997 as Vice President of Business Development. In 1999, he was promoted to Senior Vice President and General Manager of Information Distribution Services, and again in 2008 as Senior Vice President and General Manager of mutual fund services. In 2009, Mr. Scavelli was promoted to his current role.

James M. Young. Mr. Young is our Corporate Vice President and Chief Financial Officer. He joined Broadridge in June 2014 after serving in senior finance roles at Visa Inc., a global payments technology company, where he worked from 2006 until 2014. Most recently, Mr. Young served as Senior Vice President, Finance and was responsible for global financial planning and analysis for Visa’s businesses in North America, Latin America, Asia Pacific, Central Europe, the Middle East and Africa since July 2013. Previously, he served as the Head of Corporate Finance, where he was responsible for Visa’s global controllership, tax and financial planning and analysis functions. Earlier, he held several finance roles with increasing responsibility including leading finance for Visa’s North America division from 2008 to 2010 and playing a lead role in Visa’s $19 billion IPO in 2008. Prior to joining Visa, Mr. Young was a finance executive at early stage technology companies Arena Solutions and Grand Central Communications.

OWNERSHIP OF COMMON STOCK BY

MANAGEMENT AND CERTAIN BENEFICIAL OWNERS

The following table shows the number of shares of common stock beneficially owned by (a) each of our directors, (b) each of our director nominees, (c) each executive officer named in the Summary Compensation Table, and (d) by all directors, director nominees, and executive officers as a group.

The information set forth below is as of July 31, 2014, and is based upon information supplied or confirmed by the named individuals. Unless otherwise noted, the beneficial owners exercise sole voting and/or investment power over their shares. The address of each person named in the table below is c/o Broadridge Financial Solutions, Inc., 1981 Marcus Avenue, Lake Success, New York 11042.

Beneficial Owner

  Common Shares (1) (2) (3)   Percentage of
Common Shares
Beneficially Owned
 

Leslie A. Brun

   125,089     *  

Richard J. Daly (4)

   1,715,585     1.4

Lyell Dampeer

   46,275     *  

Robert N. Duelks

   66,852     *  

Timothy C. Gokey

   378,403     *  

Richard J. Haviland (5)

   114,437     *  

John Hogan (6)

   534,509     *  

Sandra S. Jaffee (7)

   49,752     *  

Stuart R. Levine

   110,614     *  

Michael Liberatore

   8,646     *  

Maura A. Markus

   24,512    

Thomas J. Perna

   69,852     *  

Robert Schifellite

   456,012     *  

Dan Sheldon (6)

   598,500     *  

Alan J. Weber

   108,152     *  

James M. Young

   31,358     *  

All directors, director nominees, and executive officers as a group (8)

   6,112,081     5.1

*Represents beneficial ownership of less than 1% of the issued and outstanding shares of our common stock.
(1)Includes unrestricted shares of common stock over which each director or executive officer has sole voting and investment power.
(2)Amounts reflect vested stock options and stock options that will vest within 60 days of July 31, 2014. If shares are acquired, the director or executive officer would have sole discretion as to voting and investment. The shares beneficially owned include: (i) the following shares subject to such options granted to the following directors and executive officers: 111,543 (Mr. Brun); 1,286,407 (Mr. Daly); 39,130 (Mr. Dampeer); 55,866 (Mr. Duelks); 351,096 (Mr. Gokey); 92,166 (Mr. Haviland); 491,325 (Mr. Hogan); 40,766 (Ms. Jaffee); 92,166 (Mr. Levine); 3,685 (Mr. Liberatore); 20,943 (Ms. Markus); 55,866 (Mr. Perna); 396,966 (Mr. Schifellite); 518,596 (Mr. Sheldon); 92,166 (Mr. Weber); and 26,260 (Mr. Young); and (ii) 5,164,608 shares subject to such options granted to all directors and executive officers as a group.
(3)Amounts provided for each director, other than Mr. Daly, include DSU awards which are fully vested upon grant, and will settle as shares of common stock upon the director’s separation from service on the Board. The DSUs are credited with dividend equivalents in the form of additional DSUs on a quarterly basis as dividends are declared by the Broadridge Board.
(4)Includes 43,000 shares of common stock held by the EED 2012 Trust, 43,000 shares of common stock held by the KLD 2012 Trust, and 124,907 shares of common stock held by the RD 2014 GRAT Trust. Mr. Daly and his wife are co-trustees of these trusts.
(5)Includes 13,285 shares of common stock held in two trusts in which Mr. Haviland and his wife areco-trustees.

(6)Mr. Hogan was no longer an executive officer of the Company as of December 31, 2013. Mr. Sheldon was no longer an executive officer of the Company as of February 5, 2014 and separated from the Company on April 11, 2014. The information presented in this table is as of the dates they each ceased to be officers of the Company.
(7)Ms. Jaffee is rotating off the Board when her term expires on November 13, 2014 due to an age limitation in our Corporate Governance Principles.
(8)Christopher J. Perry joined the Company on September 10, 2014 and his ownership is not included in the table.

The following table sets forth, as of July 31, 2014, the amount of beneficial ownership of each beneficial owner of more than five percent (5%) of our common stock:

Beneficial Owner

  Common Shares   Percentage of
Common Shares
Beneficially Owned
 

The Vanguard Group (1)

   8,259,739     6.9

BlackRock, Inc. (2)

   7,832,325     6.6

Harris Associates L.P. and Harris Associates Inc. (3)

   6,109,809     5.1

(1)Based on information contained in Amendment No.1 to Schedule 13G filed on February 11, 2014 by The Vanguard Group, Inc. (“Vanguard Group”) which amends the Schedule 13G filing made by Vanguard Group on February 13, 2013. Vanguard Group reported that it has beneficial ownership of 8,259,739 shares of the Company’s common stock, which includes 67,445 shares beneficially owned by Vanguard Fiduciary Trust Company, a wholly owned subsidiary of Vanguard Group, as a result of its serving as investment manager of collective trust accounts, and 7,600 shares beneficially owned by Vanguard Investments Australia, Ltd, a wholly owned subsidiary of Vanguard Group, as a result of its serving as an investment manager. The Vanguard Group has sole voting power with respect to 75,045 shares of the Company’s common stock, sole dispositive power with respect to 8,192,294 shares of the Company’s common stock and shared dispositive power with respect to 67,445 shares of the Company’s common stock. The address of Vanguard Group is 100 Vanguard Blvd., Malvern, PA 19355.
(2)Based on the information contained in Amendment No. 4 to Schedule 13G filed on January 28, 2014 by BlackRock, Inc. (“BlackRock”) which amends the Schedule 13G filing made by BlackRock on January 29, 2010, as amended by Amendment No. 1 to Schedule 13G filed with the SEC on February 3, 2011, as amended by Amendment No. 2 to Schedule 13G filed with the SEC on February 13, 2012, as amended by Amendment No. 3 to Schedule 13G filed with the SEC on February 6, 2013. BlackRock reported sole voting power with respect to 6.891,423 shares of the Company’s common stock and sole dispositive power with respect to 7,832,325 shares of the Company’s common stock. The address of BlackRock is 40 East 52nd Street, New York, NY 10022.
(3)Based on information contained in Amendment No. 3 to Schedule 13G filed on February 12, 2014 by Harris Associates L.P. (“Harris”) and Harris Associates Inc., Harris’ general partner (“Harris General Partner”), which amends the Schedule 13G filing made by Harris and Harris General Partner on February 8, 2011, as amended by Amendment No. 1 to Schedule 13G filed with the SEC on February 14, 2012, as amended by Amendment No. 2 to Schedule 13G filed with the SEC on February 11, 2013. Harris General Partner, for itself and as a general partner of Harris, reported sole beneficial ownership of 6,109,809 shares of the Company’s common stock. The address of Harris and Harris General Partner is Two North LaSalle Street, Suite 500, Chicago, IL 60602-3790.

SECTION 16(a) BENEFICIAL OWNERSHIP COMPLIANCE

Section 16(a) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) requires the Company’s executive officers, directors and persons who own more than 10 percent of our common stock to file initial reports of ownership and changes in ownership with the SEC. To the Company’s knowledge, with respect to the fiscal year ended June 30, 2014, all applicable filings were timely made, except that each of the following executive officers inadvertently failed to timely file one Form 4 reporting the disposition of shares of common stock for taxes withheld upon the vesting of RSUs on April 1, 2014: Adam D. Amsterdam, Maryjo T. Charbonnier, Richard J. Daly, Lyell Dampeer, Douglas R. DeSchutter, Timothy C. Gokey, Robert F. Kalenka, Charles J. Marchesani, Gerard F. Scavelli, and Robert Schifellite. The executive officers reported this transaction on Forms 4 filed with the SEC on April  10, 2014.

EQUITY COMPENSATION PLAN INFORMATION

The following table sets forth, as of June 30, 2014, certain information related to the Company’s equity compensation plans.

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)

   9,847,291 (2)  $23.73     6,935,631 (3) 

Equity compensation plansnot approved by security holders

   —     —      —   

Total

   9,847,291  $23.73     6,935,631  

(1)The Omnibus Plan.
(2)This amount consists of stock options which have an average remaining term as of June 30, 2014 of 5.75 years. This amount does not include outstanding unvested Whole Share Awards of: (i) 1,866,408 time-based RSUs; and (ii) 662,282 performance-based RSUs.
(3)These shares can be issued as stock options, stock appreciation rights, restricted stock, RSUs, or stock bonus awards under the Omnibus Plan.

PROPOSAL 2—ADVISORY VOTE TO APPROVE COMPENSATION OF OUR NAMED EXECUTIVE OFFICERS (THE SAY ON PAY VOTE)

We recognize the interest the Company’s stockholders have in the Company’s executive compensation policies and practices. In recognition of that interest and in accordance with the requirements of the SEC rules and the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (the “Dodd-Frank Act”), this proposal provides the Company’s stockholders with an opportunity to cast an annual advisory vote on the compensation of the executive officers listed on the Summary Compensation Table on page 4660 (the chief executive officer, chief financial officer, and the three other most highly compensated executive officers in fiscal year 2013, referred to as the Named Executive Officers”):, as disclosed pursuant to the SEC’s compensation disclosure rules, including the discussion of the Company’s compensation program and philosophy and the compensation tables of this Proxy Statement(the “Say on Pay Proposal”).

At the 2013 annual meeting of stockholders, over 98% of the votes cast on the Say on Pay Proposal were voted in favor of the proposal. The Committee discussed the results of this advisory vote in connection with its review of compensation decisions.

As described in more detail beginning on page 34 of this Proxy Statement under the heading “Executive Compensation—Compensation Discussion and Analysis,” the Company has adopted an executive compensation program that reflects the Company’s philosophy that executive compensation should be structured to align each executive’s interests with the interests of our stockholders. Provided below are a few highlights of our performance and our executive compensation policies and practices in 2014.

Pay for Performance. The mix of compensation elements for the Named Executive Officers, and particularly the CEO, is more heavily weighted towards variable, performance-based compensation than for the balance of the Company’s executive officers. This is intended to ensure that the executives who are most responsible for overall performance and changes in stockholder value are held most accountable for results. For example, approximately 84% of the total target fiscal year 2014 compensation of our CEO, and approximately 69% of the total target fiscal year 2014 compensation of our other Named Executive Officers who are currently corporate officers, is at risk and tied primarily to the long-term growth and profitability of the Company.

As discussed in more detail in the 2014 Financial Performance Highlights section below, in fiscal year 2014, we reported record revenues, net earnings, earnings per share (“EPS”) and closed sales results, highlighted by a 9% growth in recurring revenues, a 24% increase in net earnings presented in accordance with generally accepted accounting principles in the United States (“GAAP”), a 25% increase in our GAAP diluted EPS, and a 14% increase in closed sales. In line with the Company’s overall strong financial performance in fiscal year 2014, the total direct compensation of the Named Executive Officers increased, primarily due to an increase in their annual cash incentive award payments. The annual cash incentive payments for the Named Executive Officers who are currently corporate officers ranged from 122% to 134% of their targets, as compared to 112% to 121% of the targets for the fiscal year 2013 Named Executive Officers. In addition, because of our strong EPS performance in fiscal year 2014, performance-based RSU target awards which were earned based on average adjusted EPS performance over fiscal years 2013 and 2014, were earned at 150% of their target amounts at the end of fiscal year 2014. The performance-based RSU awards earned at the end of fiscal year 2013 were earned at 100% of the target award opportunity.

In summary, the Compensation Committee concluded that fiscal year 2014 compensation was well aligned with our performance for the year and that the connection between pay and performance is strong.

Pay targeted at Median. Our goal is to position target compensation, on average, at the median of the external market for the Named Executive Officers. On an individual basis, target compensation for each Named Executive Officer may be set above or below median based on a variety of factors

including sustained performance over time, readiness for promotion to a higher level, and skill set and experience relative to external market counterparts. Actual compensation varies above or below the target level based on the degree to which specific performance goals are attained in the variable incentive plans, changes in stock value over time, and the individual performance of each executive.

Risk Mitigation Policies and Practices. The Company has certain policies in place to minimize excessive risk taking such as a clawback policy and a policy that prohibits the hedging or pledging of the Company’s stock. In addition, with the assistance of its independent compensation consultant, Cook & Co., the Compensation Committee has reviewed our compensation programs for all Broadridge employees and has concluded that they do not create risks that are reasonably likely to have a material adverse effect on the Company.

In addition, the Company has the following governance and compensation policies and practices in place to ensure that we meet best practices in corporate governance:

Clawback Policy. Executive officer cash or equity incentive compensation is subject to reimbursement, if and to the extent that the payment, grant, or vesting was predicated upon the achievement of financial results that were subsequently the subject of a financial restatement due to material noncompliance with financial reporting requirements by the Company, and a lower payment, award, or vesting would have occurred based upon the restated financial results.

Double-trigger on Change in Control.Our Change in Control Severance Plan is based on a “double-trigger,” such that payments of cash and vesting of equity awards occur only if termination of employment without cause or with good reason occurs during the three-year period after a change in control.

No Re-pricing or Discount Stock Options. We do not lower the exercise price of any outstanding stock options, and the exercise price of our stock options is not less than 100% of the fair market value of our common stock on the date of grant.

No Dividends on Unearned Performance-based RSUs. Dividends are not earned or accrued by our performance-based RSUs until they vest and convert to shares of common stock.

Share Ownership and Retention and Holding Period Guidelines. To encourage equity ownership among our executive officers, we maintain share ownership guidelines based on a multiple of their salaries, which include stock retention and holding period guidelines that provide that they retain 50% of the net profit shares they receive as compensation. These net profit shares must be held indefinitely if the executive officer has not met the stock ownership guideline and must be held for a minimum of one year if the executive officer has met the ownership guideline.

No Hedging or Pledging of Stock. Our Named Executive Officers are prohibited from engaging in hedging and pledging activities or short sales with respect to their Broadridge common stock.

No Excise Tax Gross-ups. We do not provide for excise tax gross-ups to executive officers upon a change in control of the Company.

Modest Perquisites. We offer only modest perquisites that are supported by a business interest.

Independence of our Compensation Committee and Advisor.The Compensation Committee of our Board of Directors, which is comprised solely of independent directors, utilizes the services of Cook & Co., as an independent compensation consultant. Cook & Co. reports to the Committee, does not perform any other services for the Company, and has no economic or other ties to the Company or the management team that could compromise their independence or objectivity.

The stockholder vote on this proposal is not intended to address any specific element of compensation, but rather the overall compensation of our Named Executive Officers. Pursuant to the Dodd-Frank Act, this vote is

advisory and will not be binding on the Company. However, the Board of Directors and the Compensation Committee will review and consider the voting results when evaluating future compensation decisions relating to our Named Executive Officers.

We request that stockholders approve, on an advisory basis, the compensation of our Named Executive Officers, as disclosed in the Proxy Statement, including the Compensation Discussion and Analysis, related compensation tables and disclosures, pursuant to the compensation disclosure requirements of the SEC.

Required Vote

The affirmative vote of a majority of votes cast at the 2014 Annual Meeting, in person or by proxy, and entitled to be voted on this proposal at the Meeting is required for advisory approval of the proposal; provided that a quorum is present. Abstentions and broker non-votes will be included in determining whether there is a quorum. In determining whether the proposal has received the requisite number of affirmative votes, abstentions will have no effect on the outcome of the vote. Pursuant to NYSE regulations, brokers do not have discretionary voting power with respect to this proposal, and broker non-votes will have no effect on the outcome of the vote.

RECOMMENDATION OF THE BOARD OF DIRECTORS

THE BOARD OF DIRECTORS RECOMMENDS A VOTE “FOR” THE APPROVAL OF THE

COMPENSATION OF OUR NAMED EXECUTIVE OFFICERS AS DISCLOSED IN THIS PROXY STATEMENT

EXECUTIVE COMPENSATION

COMPENSATION DISCUSSION AND ANALYSIS

This section of the Proxy Statement explains the design and operation of our executive compensation programs with respect to the following Named Executive Officers listed on the Summary Compensation Table on page 60:

 

  Richard J. Daly, President and Chief Executive Officer (“CEO”)

 

  Dan Sheldon,James M. Young, Corporate Vice President and Chief Financial Officer (“CFO”)

John Hogan, President

 

  Timothy C. Gokey, Corporate Senior Vice President and Chief Operating Officer (“COO”)

 

Robert Schifellite, Corporate Senior Vice President, Investor Communication Solutions

Lyell Dampeer, Corporate Vice President, U.S. Investor Communication Solutions

Dan Sheldon, who served as our Corporate Vice President and Chief Financial Officer until February 5, 2014, and separated from the Company on April 11, 2014

John Hogan, who served as our President until December 31, 2013, and currently serves in the non-officer role of Senior Managing Director, Global Technology

Michael Liberatore, who served as our Acting Principal Financial Officer from December 4, 2013 until June 22, 2014, and currently serves in the non-officer role of Senior Vice President, Finance

EXECUTIVE SUMMARY

Our executive compensation program’s objectives are:Objectives of our Executive Compensation Program

 

Pay for performance: Our program is designed to provide a clear “line of sight” and connection among individual performance, organizational performance, and compensation. A significant portion of each executive officer’sexecutive’s pay varies based on individual, organizational and, when appropriate, business unit performance.

 

Hire and motivate talented executive officers: Base salaries and target incentive opportunities are designed to be market competitive to attract, engage and retain executive officersexecutives who will help ensure our future success. In addition, our program is designed to motivate and inspire behavior that fosters a high performance culture while maintaining a reasonable level of risk and adherence to the highest standards of overall corporate governance.

 

Align compensation with stockholder value: We use two specific incentive compensation programs to align the interests of our executive officersexecutives with stockholder interests and to ensure that our executive officers are motivated to increase stockholder value:

 

Our annual cash incentive program is designed to reward annual performance as measured by achievement against pre-set annual financial and operating goals.

 

Our long-term equity incentive compensation program through the grant of stock options and performance-based RSUs, is designed to align executive officer financial interests with those of stockholders and to help improve our long-term profitability and stability through the attraction and retention of superior talent.

2014 Financial Performance Highlights

In fiscal year 2013, our2014, we achieved another year of record revenues, net earnings, EPS, and closed sales performance:

Revenues increased $127 million, or 6%5%, to $2,558 million, compared to $2,431 million comparedfor the prior year.

Recurring fee revenues increased $131 million, or 9%, to $2,304$1,642 million from $1,511 million for the comparable period last year, and ourprior year. The higher recurring fee revenues increased by 4%. Thisreflected an increase was driven by a positive contribution fromin Net New Business (which we define as recurring fee revenues of approximately $57 million including net new business reflected in our excellent 99%revenue closed sales less client revenue retention rate, acquisitions, higher distribution revenues of $50 millionlosses), internal growth and higher event-driven fee revenues of $24 million.acquisitions.

Our fiscal year 2013

GAAP net earnings from continuing operations presented in accordance with generally accepted accounting principles in the United States (“GAAP”) of $212$263 million increased 70%24%, compared to $125$212 million in the comparable period last year, driven primarily by higher revenues,prior year.

Non-GAAP net earnings increased margins driven by mix of business, impairment charges taken on the assets held by the Company related18% to Penson Worldwide,

Inc. (“Penson”) recorded$279 million, compared to $236 million in the prior fiscal year, costs associated with the migration of our data centeryear.

GAAP diluted EPS growth was 25%, to IBM recorded$2.12 per share, from $1.69 per share in the prior fiscal year, and cost containment. Our net earnings from continuing operations that are not presented in accordance with GAAP (“year.

Non-GAAP”) were $236 million compared diluted EPS increased 20% to $213 million in the comparable period last year. Our GAAP diluted earnings per share from continuing operations increased to $1.69$2.25 per share, compared to $0.98 per share for the comparable period last year. Our Non-GAAP diluted earnings per share from continuing operations were $1.88 per share in the prior year.

Closed sales increased 14% from last fiscal year to $179 million.

Recurring revenue closed sales increased 5% from last fiscal year to $127 million.

In addition, in fiscal year 2014:

GAAP pre-tax earnings margins of 15.5% increased as compared to $1.67 per share13.3% for the comparable period lastprevious fiscal year.

In fiscal year 2013, the Company’s

Non-GAAP pre-tax earnings results are adjusted to exclude the impactmargins of amortization charges associated with intangible asset values and other deal costs associated with the Company’s acquisitions, restructuring and impairment charges, and a one-time tax benefit.

The Company’s fiscal year 2013 GAAP pre-tax margins from continuing operations of 13.3% improved16.4% increased as compared to 8.7%15.1% for the same period last year as a resultyear.

We generated free cash flows (Non-GAAP) of the impact of impairment charges related$334 million. The Company defines free cash flows to Pensonexclude capital expenditures and costs associated with the migration ofsoftware purchases from our data center to IBM that were recorded in fiscal year 2012.GAAP net operating activity cash flow results.

During fiscal year 2013, the Company’s recurring revenue closed sales of $121 million were up slightly compared to last year’s comparable period. Recurring revenue closed sales continue to be a significant factor in Broadridge’s financial results and the Company reported record recurring revenue closed sales in the fiscal year. The closed sales results included a large transaction the Company entered as a result of a strategic alliance with Accenture plc during fiscal year 2013. For the second consecutive year, the Company closed over $100 million in recurring revenue sales attributable to contracts with expected revenues of less than $5 million each. Broadridge’s emerging and acquired product portfolio contributed significantly to this performance, and has helped Broadridge to manage through the financial crisis and to find new growth.

In fiscal year 2013, we

We returned a total of $313$208 million to our stockholders in the formthrough a combination of $86$97 million in cash dividends and $227$111 million in share repurchases. We repurchased approximately 9.2 million shares of Common Stock under our stock repurchase plans at an average price of approximately $24.52 per share, or a total of 7% of our outstanding shares. In addition,

Also, in August 2013,2014, our Board of Directors increased our annual dividend amount by approximately 17%29%, from $0.72$0.84 per share to $0.84$1.08 per share, subject to the discretion of the Board of Directors.Directors to declare quarterly dividends. With this increase, our annual dividend has increased for the sixthseventh consecutive year since our first full year of dividend payments in 2008.

Certain financial results in this Financial Performance Highlights section are Non-GAAP financial measures and should be viewed in addition to, and not as a substitute for, the Company’s reported results. Adjusted net earnings from continuing operations and adjusted diluted EPS from continuing operations excluding the impact of acquisition amortization and other costs, restructuring and impairment charges, and a one-time tax benefit are Non-GAAP measures. Our reported results are adjusted to exclude the impact of certain non-recurring items as Broadridge believeswe believe this Non-GAAP information helps investors understand the effect of these items on our reported results and provides a better representation of our actual performance. In fiscal year 2014, our Non-GAAP net earnings, diluted EPS, and pre-tax earnings margins results are adjusted to exclude the impact of amortization charges associated with intangible asset values and other deal costs associated with our acquisitions (“Acquisition Amortization and Other Costs”). In addition, our fiscal year 2013 Non-GAAP net earnings, diluted EPS, and pre-tax earnings margins results are adjusted to exclude the impact of Acquisition Amortization and Other Costs, restructuring charges, and a one-time tax benefit.

Adjusted net earnings, adjusted diluted EPS, adjusted pre-tax earnings margins, and free cash flows are Non-GAAP measures. Please see “Management’s Discussion“Explanation and AnalysisReconciliation of the Company’s Use of Non-GAAP Financial ConditionMeasures” on pages 10 and Results11 of Operations” in the 2013 Annual Report accompanying this Proxy Statement, for more information on the calculationuse of these Non-GAAP financial measures and a reconciliation of these Non-GAAP measures to the comparable GAAP measures.

2014 Compensation Highlights

Our goal is to position target compensation, on average, at the median of the external market for the Named Executive Officers. On an individual basis, target compensation for each Named Executive Officer may be set above or below median based on a variety of factors including sustained performance over time, readiness for promotion to a higher level, and skill set and experience relative to external market counterparts. Actual compensation varies above or below the target level based on the degree to which specific performance goals are attained in the variable incentive plans, changes in stock value over time, and the individual performance of each executive.

As discussed above, inIn fiscal year 2013,2014, we reported strong operatingrecord revenues, net earnings, EPS and closed sales results, with solid revenue growth of 6% and record earnings per share performance.as discussed in the Financial Performance Highlights section above. In line with the improvements in the Company’s strong overall financial performance in fiscal year 2013 compared to fiscal year 2012 and our strong results versus budgeted goals,2014, the total direct compensation of the Named Executive Officers increased, primarily due to an increase in their annual cash incentive award payments. The annual cash incentive payments for the Named Executive Officers who are currently corporate officers ranged from 112.1%122% to 120.8%134% of their targets, as compared to 92.8%112% to 115.7%121% of theirthe targets for the fiscal year 2013 Named Executive Officers. In addition, because of our strong EPS performance in fiscal year 2012. In addition, 100% of2014, performance-based RSU target awards granted in earlythat were earned based on average adjusted EPS performance over fiscal years 2013 and 2014 were earned at 150% of their target amounts at the end of fiscal year 2012 (which are based on performance over a two-year period) were2014. The performance-based RSU awards earned at the end of fiscal year 2013 up from 70%were earned at 100% of the end of fiscal year 2012.target award opportunity.

In summary, the Compensation Committee concluded that fiscal year 20132014 compensation was well aligned with the Company’s performance for the year and that the connection between pay and performance is strong.

Total Direct Compensation Objectives and Fiscal Year Changes2014 Compensation Actions

The primary elements of our executivetotal direct compensation program for corporate officers and a summary of the actions taken by the Committee during the year are describedset forth below.

 

Compensation Component

 

Principal Objectives

 

Fiscal Year 2013 Highlights2014 Compensation Actions

Base Salary

(Page 42)

 

•     Provide regular and continued payments appropriate to position, experience and responsibilities.

 

•     Provided merit-based increases for the Named Executive Officers who are currently corporate officers of 0% to 3.5%approximately 3.0%. In addition, Mr. Daly received a salary adjustment of 11.9% and Mr. Schifellite received a salary adjustment of 10.1%.

Annual Cash Incentive

Compensation

(Page 43)

 

•     Focus executives on achieving annual financial and operating results.

 

•     Elements in the plan are directly linked to driving increases in stockholder value.

 

•     Annual cash incentive payments for the Named Executive Officers who are currently corporate officers ranged from 112.1%122% to 120.8%134% of their targets based on achievement of financial and strategic performance targets including Earnings before Taxes and Extraordinary Items, Fee-Based Revenue and Total Recurring Revenue Closed Sales.targets.

Long-Term Equity IncentivesIncentiveCompensation

(Page 49)

 

•     Align executive officer financial interests with those of stockholders, and help to improve our long-term profitability and stability through the attraction and retention of a talented management team.

 

•     Based on the average EPS performance in fiscal years 20122013 and 2013, 100%2014, 150% of the target shares of the performance-based RSU awards granted in October 20112012 were earned at the end of fiscal year 20132014 and will vest in April 2014.2015 subject to continued employment with the Company.

 

•     Performance-based RSU awards were granted in October 20122013 and will be earned based on average EPS performance in fiscal years 20132014 and 2014.2015. The number of RSUs earned is determined at the end of the two-year performance cycle. The earned RSUs vest 30 months from the date of grant subject to continued employment with the Company.

Other Compensation Elements

Compensation Component

Principal Objectives

2014 Compensation Actions

•     In February 2014, the Company granted annual stock options to the Named Executive Officers. The awards vest 25% per year on the anniversary of the date of the grant for the following four years, provided continued employment. In addition to the annual stock option award grants, Mr. Dampeer and Mr. Liberatore received special stock option grants.

In addition to the compensation elements described above, we also provide the compensation described below.

 

Compensation Component

 

Principal Objectives

 

Fiscal Year 2013 Highlights2014 Compensation Actions

Retirement Benefits

(Page 56)

 

•     Provide for the financial security of executives.

 

•     No changes were made to retirement benefits in fiscal year 2013.2014. In August 2014, the Committee made the following changes to our executive retirement program, effective January 1, 2015:

•     The Supplemental Officer Retirement Plan (“SORP”) and Supplemental Executive Retirement Plan (“SERP”) were closed to new participants. Future accruals will continue for existing participants.

•     The Executive Deferred Compensation Plan (“DC Plan”) was amended to close it to new deferrals and Company contributions.

•     A new Executive Retirement and Savings Plan (“ERSP”) was adopted for those executives who are not participants in the SORP or SERP. The ERSP is a defined contribution restoration plan that mirrors

Broadridge’squalified 401(k) Plan. The purpose of the ERSP is to provide specified deferred compensation benefits to a select group of United States-based management or highly compensated employees. The ERSP allows for voluntary associate deferrals of base salary and/or cash incentive compensation and employer contributions above the qualified defined contribution compensation and deferral limitations

•     The changes to the Company’s retirement benefits are intended to limit non-performance-based compensation and increase the emphasis on the pay for performance elements of our executive compensation program consistent with evolving market practices.

Compensation Component

Principal Objectives

2014 Compensation Actions

Severance Benefits

(Page 55)

 

•     Provide temporary compensation to bridge executives’ transition to new employment.

 

•     No changes were made to the severance plan in fiscal year 2013. After the fiscal year ended, Mr. Daly and Mr. Hogan agreed to amend their Change in Control Severance Plan Enhancement Agreements to give up their right to excise tax gross-up payments which could have been payable in the event of a qualified termination following a change in control of the Company.

Perquisites

(Page 57)

 

•     Helps to attract and retain talented executives with benefits that are comparable to those offered by companies with which we compete for talent.

 

•     NoThe Company offers modest perquisites and no changes were made to the perquisites in fiscal year 2013.2014.

Summary of Target Compensation for Named Executive Officers

A summary of the fiscal year 2014 total target direct compensation of the Named Executive Officers as approved by the Compensation Committee, is set forth in the table below. The compensation presented in this table differs from the compensation presented in the Summary Compensation Table which can be found on page 60 of this Proxy Statement, and is not a substitute for such information. As required by SEC rules, the stock award and stock option columns in the Summary Compensation Table represent the grant date fair value of awards made during fiscal year 2014. The target equity values in the table below represent a target used by the Compensation Committee.

The mix of compensation elements for the Named Executive Officers is also detailed in the table below. Pay mix is more heavily weighted towards variable, performance-based compensation for the Named Executive Officers, particularly the CEO, than for the other executive officers. This is intended to ensure that the executives who are most responsible for overall performance and changes in stockholder value are held most accountable for results.

Mr. Young joined the Company as its Corporate Vice President and CFO on June 23, 2014, one week before the end of the Company’s fiscal year. As such, other than the approval of the terms of his offer letter dated May 21, 2014 (the “Offer Letter”), the Compensation Committee did not make determinations regarding his compensation during fiscal year 2014. Please see the “Employment Agreements” section for a description of the Offer Letter.

Typically, Broadridge’s Named Executive Officers are corporate officers of the Company. However, two of the fiscal year 2014 Named Executive Officers, Mr. Hogan and Mr. Liberatore, are not corporate officers of the Company. Mr. Hogan was a corporate officer until December 31, 2013, and Mr. Liberatore was our Acting Principal Financial Officer from December 4, 2013 until June 22, 2014. Mr. Liberatore is not a corporate officer and therefore his compensation was not approved by the Compensation Committee.

The compensation of corporate officers varies in several regards from our non-officers:

Corporate officers participate in the corporate officer bonus plan (the “Corporate Officer Bonus Plan”), while non-officer executives participate in the Management by Objectives Bonus Plan (the “MBO Bonus Plan”).

Corporate officers’ annual equity incentive stock awards consist of performance-based RSUs, while senior non-officer executives, such as Mr. Liberatore, receive annual stock awards that are comprised of both time-based and performance-based RSUs.

Non-officers are not eligible to participate in the SORP. Depending on their level, senior non-officer executives may participate in the SERP or the DC Plan.

Named Executive
Officer

 Base Salary  Annual Cash Incentive  Annual Equity Incentive  Total Target
Direct
Compensation
(TDC)
 
 Annual
Value
  Fixed Cash as
% of Target
TDC
  Cash Incentive
Target as % of
Base
  Target Value  Cash Incentive
as % of
Target TDC
  Target Value  Equity as %
of Target
TDC
  

Mr. Daly

 $800,000    16  165 $1,320,000    26 $3,000,000    59 $5,120,000  

Mr. Gokey

 $547,000    23  130 $711,100    30 $1,100,000    47 $2,358,100  

Mr. Schifellite

 $474,047    28  110 $521,452    31 $700,000    41 $1,695,499  

Mr. Dampeer

 $386,250    42  80 $309,000    33 $230,000    25 $925,250  

Mr. Sheldon (1)

 $379,166    35  77 $292,800    27 $400,000    37 $1,071,966  

Mr. Hogan (2)

 $528,100    26  145 $767,150    38 $737,500    36 $2,032,750  

Mr. Liberatore (3)

 $300,235    55  37 $111,267    21 $130,000    24 $541,502  

(1)Compensation reflects a prorated cash incentive for the period Mr. Sheldon was employed during fiscal year 2014 prior to his separation from the Company and his target RSU award. The cash incentive target percentage is rounded to the nearest whole percentage. Mr. Sheldon was not eligible for a stock option award in fiscal year 2014 because he was no longer an officer of the Company at the time of this grant.
(2)Compensation reflects annualized target amounts for Mr. Hogan’s compensation based on his transition from the role of President to the non-officer role of Senior Managing Director, Global Technology on January 1, 2014. It reflects his total cash incentive target in dollars which was converted to an annualized target as a percentage of base salary. The cash incentive target percentage is rounded to the nearest whole percentage. The target annual equity incentive includes his RSU target in the role of President and his stock option target in the role of Senior Managing Director, Global Technology.
(3)Mr. Liberatore was promoted in February 2014. His annual cash incentive award target as a percentage of his base salary was 35% from July 1, 2013 to January 31, 2014, and 40% from February 1, 2014 to June 30, 2014. The target percentage of his annual cash incentive reflected in the table is based on the number of days he worked at each bonus level, and is rounded to the nearest whole percentage.

Strong Stockholder Support for our Compensation Programs

Each year, the Company provides stockholders with an opportunity to cast an advisory vote on the compensation of the Company’s Named Executive Officers. At the 2013 annual meeting of stockholders, stockholders continued their strong support of our executive compensation programs with over 98% of the votes cast in favor of the proposal. The Committee discussed the results of this advisory vote in connection with its review of compensation decisions. Based on the outcome of the annual advisory vote, and after taking into account stockholder feedback, the Compensation Committee believes that the Company’s current executive compensation program has the support of the Company’s stockholders. Accordingly, the Compensation Committee decided to retain the core elements and pay for performance design of our executive compensation program for fiscal year 2014. However, in order to further align with emerging best practices and broad investor views on performance-based pay, the Committee made revisions to the retirement plans as discussed above, effective January 1, 2015.

The Committee will continue to consider the outcome of the Company’s annual Say on Pay Proposal votes and the views of our stockholders when making future compensation decisions for the Named Executive Officers. The Company maintains Officer Stock Ownershipwill present the Say on Pay Proposal for advisory vote on an annual basis at least until the next advisory vote on the frequency of say on pay votes (no later than the 2017 annual meeting of stockholders).

Governance and RetentionCompensation Policies and Holding Period Guidelines, an Executive Officer Compensation Clawback Policy,Practices

Risk Mitigation Policies and Practices. The Company has certain policies in place to minimize excessive risk taking such as a clawback policy and a Pre-Clearancepolicy that prohibits the hedging or pledging of the Company’s stock. In addition, with the assistance of its independent compensation consultant, Cook & Co., the Compensation

Committee has reviewed our compensation programs for all Broadridge employees and Insider Trading Policyhas concluded that they do not create risks that are designedreasonably likely to reflecthave a material adverse effect on the Company. For more information, please see the “Risk Assessment of Compensation Programs” section on page 23.

In addition, the Company has the following governance and compensation policies and practices in place to ensure that we meet best practices in corporate governance. For information about these policies, please see “Corporate Governance Policies” on pages 41-42.governance:

Clawback Policy. Executive officer cash or equity incentive compensation is subject to reimbursement, if and to the extent that the payment, grant, or vesting was predicated upon the achievement of financial results that were subsequently the subject of a financial restatement due to material noncompliance with financial reporting requirements by the Company, and a lower payment, award, or vesting would have occurred based upon the restated financial results.

Double-trigger on Change in Control.Our Change in Control Severance Plan is based on a “double-trigger,” such that payments of cash and vesting of equity awards occur only if termination of employment without cause or with good reason occurs during the three-year period after a change in control.

No Re-pricing or Discount Stock Options. We do not lower the exercise price of any outstanding stock options, and the exercise price of our stock options is not less than 100% of the fair market value of our common stock on the date of grant.

No Dividends on Unearned Performance-based RSUs. Dividends are not earned or accrued by our performance-based RSUs until they vest and convert to shares of common stock.

Share Ownership and Retention and Holding Period Guidelines. To encourage equity ownership among our executive officers, we maintain share ownership guidelines based on a multiple of their salaries, which include stock retention and holding period guidelines that provide that they retain 50% of the net profit shares they receive as compensation. These net profit shares must be held indefinitely if the executive officer has not met the stock ownership guideline and must be held for a minimum of one year if the executive officer has met the ownership guideline.

No Hedging or Pledging of Stock. Our Named Executive Officers are prohibited from engaging in hedging and pledging activities or short sales with respect to their Broadridge common stock.

No Excise Tax Gross-ups. We do not provide for excise tax gross-ups to executive officers upon a change in control of the Company.

Modest Perquisites. We offer only modest perquisites that are supported by a business interest.

Independence of our Compensation Committee and Advisor.The Compensation Committee of our Board of Directors, which is comprised solely of independent directors, utilizes the services of Cook & Co., as an independent compensation consultant. Cook & Co. reports to the Committee, does not perform any other services for the Company, and has no economic or other ties to the Company or the management team that could compromise their independence or objectivity.

KEY ROLES AND PROCESSES FOR EXECUTIVE COMPENSATION DECISION-MAKING

Role of the Compensation Committee

The Compensation Committee, which consists solely of independent directors, has oversight of all compensation elements provided to Broadridge’s executive officers, including thethose who are Named Executive Officers.

The Compensation Committee plays a significant role in the evolution of Broadridge’s executive compensation strategies and policies in order to ensure that our executive compensation program supports our long-term business strategy and enhances our performance and return to stockholders. Among its duties, the

Committee determines and approves the total compensation of our CEO and approves the compensation for the remainder of our Named Executive Officersexecutive officers after taking into account the CEO’s recommendations including:

 

Review and approval of corporate incentive goals and objectives relevant to compensation;

 

Evaluation of the competitiveness of each Named Executive Officer’sexecutive officer’s total compensation package; and

 

Approval of any changes to the total compensation package, including, but not limited to, base salary, annual cash incentive and long-term equity incentive award opportunities.

Role of the Independent Consultant

The Compensation Committee engages Cook & Co. as its independent compensation consultant to provide compensation market analysis and insight with respect to the compensation of our executive officers, including

the Named Executive Officers.officers. In addition, Cook & Co. provided the Compensation Committee advice regarding selection of the Peer Group companies (as defined below), market competitive compensation, designrestatement of the variable incentive plans, selection of performance goals and ranges,Omnibus Plan, executive compensation trends, governance and regulatory updates, and an assessment of the compensation risk of Broadridge’s incentive plans. Cook & Co. also provides ongoing assistance in the design and structure of the variable incentive plans, including the selection of performance metrics and the setting of performance goals.

The Compensation Committee reviewed the independence of Cook & Co. and concluded that Cook & Co. is independent and their work has not raised any conflicts of interest. Please see the “Corporate Governance” section of this Proxy Statement for additional information about the role of Cook & Co.

Role of Management

Each year our CEO makes recommendations to the Compensation Committee with respect to the base salaries, annual cash incentive awards and long-term incentive awards for executive officers, including the other Named Executive Officers, within the framework of the executive compensation program approved by the Committee and taking into account Cook & Co.’s review of market competitive compensation data on behalf of the Committee. These recommendations are based upon his assessment of each executive officer’s performance, the performance of the individual’s respective business or function, and employee retention considerations. The Committee considers the CEO’s recommendations in its sole discretion. Our CEO does not make recommendations that affect his own compensation.

Results of 2012 Say on Pay Proposal

The Company provides stockholders with an opportunity to cast an advisory vote on the compensation of the Company’s Named Executive Officers, as disclosed pursuant to the SEC’s compensation disclosure rules (a “Say on Pay Proposal”). At the 2012 annual meeting of stockholders, approximately 95% of the votes cast on the Say on Pay Proposal were voted in favor of the proposal. The Committee discussed the results of this advisory vote in connection with its review of compensation decisions. Based on the outcome of the annual advisory vote, and after taking into account stockholder feedback, the Compensation Committee believes that the Company’s current executive compensation program has the support of the Company’s stockholders. As a result, no actions were taken with respect to our executive compensation program based on the advisory vote.

The Committee will continue to consider the outcome of the Company’s annual Say on Pay Proposal votes and the views of our stockholders when making future compensation decisions for the Named Executive Officers. The Company will present the Say on Pay Proposal for advisory vote on an annual basis at least until the next advisory vote on the frequency of say on pay votes (no later than the 2017 annual meeting of stockholders).

Peer Group Selection and Market Data

The list of companies determined to be Broadridge’s peers for executive officer compensation benchmarking purposes is reviewed annually by the Compensation Committee. The Compensation Committee, with the assistance of its independent compensation consultant, Cook & Co., determined that the following 1817 companies are Broadridge’s peers for fiscal year 20132014 compensation benchmarking purposes (the “Peer Group”):

 

Alliance Data Systems Corp.
Cognizant Technology Solutions Corp.
Convergys Corp.
DST Systems Inc.
Dun & Bradstreet Corp.
Equifax Inc.
Euronet Worldwide Inc.
Fidelity National Information Services, Inc.
Fiserv Inc.
Global Payments Inc.
Heartland Payment Systems Inc.
Jack Henry & Associates
Lender Processing Services, Inc.
Paychex Inc.
SEI Investments Co.
TeleTech Holdings Inc.
Total System Services Inc.
VeriFone Holdings Inc.
Western Union Company
 

MF Global Holdings, Ltd.In determining the Peer Group for fiscal year 2014 compensation review, Cognizant Technology Solutions Corp and GFI Group, Inc.SEI Investments Co. were removedexcluded from the list of peer group companies usedPeer Group due to size considerations. Western Union was added due to its revenue size and classification in the prior fiscal year. MFsame eight digit Global Holdings, Ltd. filed for bankruptcy protection in 2011. GFI Group, Inc. was removed from the list because its revenues are less than half of Broadridge’s revenues and it is in an industry with a different risk profile thanIndustry Classification Standard code as Broadridge.

The Peer Group companies were selected based primarily on two factors:

 

  Comparable business (i.e., the peer companies operate in similar industries and have similar cost structures, business models, compensation models and global reach); and

 

  Size (i.e., the peer companies are within a reasonable size range, both larger and smaller).

Peer groupGroup data is considered a primary source of information for the determination of both market practices and market compensation levels for the Named Executive Officers. As there is limited data on positions other than the CEO and CFO in the peer groupPeer Group data, the Compensation Committee also reviews data from two national survey sources related to general industry companies (the “General Industry Group”) size-adjusted for Broadridge’s total revenues, as described in the next paragraph, or in the case of the roles of Mr. Schifellite’s role,Schifellite and Mr. Dampeer, size-adjusted for the total revenues of the bank, broker-dealer and corporate issuer solutions businesses of our Investor Communications segment (the “Bank/Broker/Issuer division”),they manage, when it considers the market competitiveness of Named Executive Officer compensation levels and/or market practices. The

In fiscal year 2014, the surveys utilized are Towers Watson’s CDB General Industry Executive Compensation Survey, which includes 435 participants,442 participating companies, and Aon Hewitt’s TCM Executive Total Compensation Regression Analysis: United States, which includes more than 360 participants.

470 participating companies. The Committee does not review the specific companies included in these surveys, and the data presented to the Committee is general and not specific to any particular subset of companies. For comparison purposes, due to the variance in size among the companies in the General Industry Group, regression analysis, which is an objective analytical tool used to determine the relationship between one variable and another, is used to adjust the data for differences in the General Industry Group company revenues in order to be comparable to Broadridge. Regressed General Industry Group data was reviewed by the Compensation Committee in conjunction with peer groupPeer Group data to determine market rates and year-over-year changes in Named Executive Officers’ total compensation, which are discussed in more detail below.

Summary of Target Compensation for Named Executive OfficersCEO Evaluation Process

The fiscal year 2013 compensation elements that comprise total target direct compensation for the Named Executive Officers are summarized below. The information described below differs from the information presented in the Summary Compensation Table required by the SEC, which can be found on page 46Board of this Proxy Statement, and is not a substitute for such information. The stock award and stock option columns in the Summary Compensation Table represent the grant date fair value of awards made during fiscal year 2013. The target equity values below represent a target used by the Compensation Committee.

The mix of compensation elements for the Named Executive Officers is also detailed below. Pay mix is more heavily weighted towards variable, performance-based compensation for the Named Executive Officers, particularly the CEO, than for the other executive officers. This is intended to ensure that the executives who are most responsible for overall performance and changes in stockholder value are held most accountable for results.

Named Executive
Officer

 Base Salary  Annual Cash Incentive  Annual Equity Incentive  Total Target
Direct
Compensation
(TDC)
 
 Annual $  Fixed Cash as
% of Target
TDC
  Cash Incentive
Target as % of
Base
  Total
Target Cash
  Variable Cash
as % of
Target TDC
  Target
Value
  Equity as %
of Target
TDC
  

Mr. Daly

 $715,000    16  165 $1,894,750    27 $2,500,000    57 $4,394,750  

Mr. Sheldon

 $473,800    33  75 $829,150    25 $600,000    42 $1,429,150  

Mr. Hogan

 $540,000    21  150 $1,350,000    31 $1,225,000    48 $2,575,000  

Mr. Gokey

 $530,500    26  115 $1,140,575    30 $900,000    44 $2,040,575  

Mr. Schifellite

 $430,560    27  110 $904,176    29 $700,000    44 $1,604,176  

CEO Evaluation Process

The Compensation CommitteeDirectors evaluates the performance of the CEO annually. The Compensation Committee’sBoard’s evaluation of Mr. Daly’s performance is focused on:

Mr. Daly’s leadership as assessed against expectations in four categories:considers the attainment of financial, strategic, leadership, enabling future growth,operational excellence, human capital, management, and stakeholder engagement; and

The CEO scorecard which assesses financial and operational business performance against expectations in four categories: financial goals, operational excellence goals, human capital goals, and client goals.

Mr. Daly’s leadership and the CEO scorecard were evaluated by all independent members of the Board. In addition, Mr. Daly’s leadership was also evaluated by the executive officers of the Company. Ratings were tabulated by a third-party service provider and reviewed by the Board of Directors.

In previous years this process included an assessment of Mr. Daly’s leadership by the executive officers of the Company. The Board of Directors usedelected to not conduct this review in 2014 because the results of both the leadership assessment and the CEO scorecard to evaluate Mr. Daly’s performance for the fiscal year, and to communicate the key performance and strategic and leadership goals that the Compensation Committee wants Mr. Daly to pursue in the upcoming fiscal year.were consistent year-over-year.

In its evaluation of Mr. Daly, theThe Board of Directors concluded that Mr. Daly met theexceeded its overall expectations of the Board in both its leadership assessment and the results measured on the CEO scorecard in fiscal year 2013, and made recommendations to the Compensation Committee reflecting this evaluation. At the conclusion of the fiscal year, the results were considered by the Compensation Committee in determining Mr. Daly’s compensation.

ELEMENTS OF EXECUTIVE COMPENSATION

Base Salary

The base salaries of the Named Executive Officers who are corporate officers are reviewed and approved by the Compensation Committee in the first quarter of the Company’s fiscal year. Base salaries are targeted at the median based on Peer Group benchmarking and a General Industry Group survey and a review of market trends prepared by Cook & Co. Actual positioning varies above or below the median to reflect each executive’s role and responsibilities, performance over time, and experience and skill set relative to the Company’s other executive officers, and their criticality to the Company.officers.

In September 2012,2013, the Compensation Committee reviewed the base salaries of the Named Executive Officers and taking this criteria into consideration, the Committee madeapproved the following merit-based salary increaseschanges for fiscal year 2013,2014 based on the reasons set forth below, effective on September 1, 2012:2013:

 

Named Executive Officer

  Fiscal Year 2012
Base Salary
  Increase  Fiscal Year 2013
Base Salary
 Fiscal Year 2013
Base Salary
 Increase Fiscal Year 2014
Base Salary
 

Richard J. Daly

   $695,000   3%   $715,000  $715,000    11.9 $800,000   Salary adjustment due to Mr. Daly’s performance, tenure and to position his salary closer to the median of the Peer Group

Dan Sheldon

   $460,000   3%   $473,800 

Timothy C. Gokey

   $515,000   3%   $530,500  $530,500    3.1 $547,000   Merit increase due to his performance

Robert Schifellite

   $416,000   3.5%   $430,560  $430,560    10.1 $474,047   Salary adjustment due to the strong performance of his business unit, which is Broadridge’s largest business

Lyell Dampeer

 $375,000   3.0 $386,250   Merit increase due to his performance

Dan Sheldon (1)

 $473,800   3.0 $488,000   Merit increase due to his performance

John Hogan (2)

 $540,000   3.0 $556,000   Merit increase due to his performance

(1)Mr. Sheldon was no longer an officer of the Company as of February 5, 2014 and separated from the Company on April 11, 2014.
(2)The Committee also set Mr. Hogan’s base salary at $500,000, effective January 1, 2014, for his non-officer role as Senior Managing Director, Global Technology.

In February 2014, Mr. Liberatore was promoted to reflect his leadership of the Investor Communications Mutual Funds business and to reflect the changes in responsibilities attributable to his interim role as Acting Principal Financial Officer. At that time, Mr. Liberatore’s base salary was increased by 7.0% to $300,235.

Annual Performance-Based Cash IncentivesIncentive Compensation

Annual Corporate Officer Bonus Plan

Broadridge provides annual performance-based cash incentives to all of its executivecorporate officers, including thethose who are Named Executive Officers, in the form of a cash bonus plan under the Omnibus Plan. The incentives are intended to qualify as “performance-based compensation” under Section 162(m) of the Internal Revenue Code of 1986, as amended (the “Code”). The annual cash incentives for the Company’s Named Executive Officers areCorporate Officer Bonus Plan is designed to reward annual performance, as measured by achievement against pre-set goals.

Certain of the corporate performance targets discussed in this Proxy Statement related to cash and equity incentive compensation are measured in a manner that reflects specific pre-determined adjustments to results. The Compensation Committee determines at the time it establishes the targets certain types of expenses, costs and other matters (such as acquisition costs and restructuring and integration costs, as well as changes in accounting rules that occur after the awards are made) that it believes should not affect the calculation of the achievement of a performance goal. Similarly, divisional performance targets typically exclude corporate allocations, costs associated with corporate initiatives, or other matters that management recommends to the Committee not to be considered when measuring performance. The purpose of these adjustments is to ensure that the measurement of performance reflects factors that management can directly control and that payout levels are not artificially inflated or impaired by factors unrelated to the ongoing operation of the business.

Corporate Officer Bonus Plan—Fiscal Year 2013 Cash Incentive2014 Award Target Changes

In September 2012,2013, after reviewing Broadridge’s fiscal year 20132014 business plan and taking into account the results of the Cook & Co. study, for the reasons set forth below, the Committee decided thatmade the following changes to the annual cash incentive targets as a percentage of base salary would be increased for three of the Named Executive Officers as set forthnamed below:

 

  Annual Cash Incentive
Target as a % of Base Salary
     Annual Cash Incentive
Target as a % of Base Salary
   

Named Executive Officer

  Fiscal Year
2012
  Fiscal Year
2013
  

Rationale

  Fiscal Year
2013
 Fiscal Year
2014
   

John Hogan

  140%  150%  Reflects strong performance expectations relating to the transition of the role of COO from Mr. Hogan to Mr. Gokey and the transactions related to Penson

Timothy C. Gokey

  100%  115%  Reflects his expanded responsibilities resulting from his promotion to the role of COO  115% 130%  Reflected Mr. Gokey’s expanded responsibilities resulting from his promotion to the role of COO

Robert Schifellite

  100%  110%  Reflects his strong performance relating to leading Broadridge’s largest business unit and his continued value to the Company

Dan Sheldon (1)

  75% 80%  Reflected the Company’s desire to move Mr. Sheldon’s total direct compensation package towards the median of the Peer Group

John Hogan (2)

  150% 150%/140%  Mr. Hogan’s cash incentive award target was reduced as of January 1, 2013 from 150% of base salary to 140% of base salary to reflect his new non-officer role as Senior Managing Director, Technology

(1)Fiscal year 2014 annual cash incentive target percentage represents the target for the full fiscal year. Mr. Sheldon’s actual target percentage for fiscal year 2014 was approximately 77%, which is the prorated target percentage for the period Mr. Sheldon was employed during the fiscal year prior to his separation from the Company.
(2)Fiscal year 2014 annual cash incentive target percentages represent the target amounts for fiscal year 2014 based on his transition from the role of President to the non-officer role of Senior Managing Director, Global Technology on January 1, 2014. Mr. Hogan’s actual target percentage for fiscal year 2014 was approximately 145%, which is the average of his two target percentages for the fiscal year.

Corporate Officer Bonus Plan—Maximum Cash Incentive Awards Available

Early in fiscal year 2013, theThe Compensation Committee established that no annual cash incentive awards would be payable to the Company’s executive officers under the corporate officer cash incentive plan in fiscal year 2014 unless the Company’s fiscal year 20132014 adjusted net earnings were at least $133$156 million. The Committee selected this metric because it measures annual corporate growth and is believed to provide alignment with our stockholders’ interests. Adjusted net earnings was defined as the Company’s fiscal year 2013 net earnings from continuing operations after income taxes reported in the Company’s financial statements for the 20132014 fiscal year, as adjusted to exclude the impact of the full amount of all items of gain, loss, charge or expense relating to the items specified by the Compensation Committee within the first 90 days of the performance period, and as disclosed in the Company’s financial statements, footnotes to the financial statements or in management'smanagement’s discussion and analysis of financial condition and results of operations appearing in the Company’s Form 10-K for the fiscal year. In fiscal year 2013,2014, these adjustments consisted of costs associated with acquisitions or divestitures, other than the exclusionCompany’s acquisition of Bonaire Software Solutions, LLC (“Bonaire”), and reorganization and restructuring programs to the impactextent such programs resulted in aggregate net expenses in excess of restructuring and impairment charges related to severance, one-time system development costs, and the restructuring and outsourcing of certain processing related to our desktop applications.$6 million.

Achievement of this performance threshold goal establishes a maximum award amount that each Named Executive Officerexecutive officer is eligible to receive, equal to 200% of their target amount set forth below. However, the actual cash incentive award payable is determined by the Compensation Committee in its discretion, taking into account financial and non-financial performance of the Company, individual performance, of the Named Executive Officer, and any other factors the Compensation Committee deems relevant, limited to the maximum award amount.

Broadridge’s adjusted net earnings for fiscal year 20132014 exceeded the $133 million threshold;$156 million; therefore, the Company achieved the required threshold to pay cash incentive awards to the Named Executive Officers. In determining actual award amounts, the Committee considered achievement compared to pre-established financial, strategic and client satisfaction goals as described below.under this plan.

2013 Cash Incentive AwardCorporate Officer Bonus Plan—2014 Performance Metrics

For fiscal year 2013,2014, the Committee determined that the annual cash incentive awards for the Named Executive Officers would be based primarily on the following three components:

 

Financial Goals (70% of total award)

 

Client Satisfaction (5% of total award)

Strategic and Leadership Goals (25% of total award)

Client Satisfaction (5% of total award)

Corporate Officer Bonus Plan—Financial Goals

Achievement of financial goals is the most heavily weighted set of goals for allthe Named Executive Officers because the Compensation Committee considers these goals to provide the most relevant measures of the Company’s overall business performance for the year, as it believes attainment of the annual goals set for each metric is necessary to achieve the Company’s long-term growth and profitability objectives.

The Committee establishes a threshold, a target and a maximum level for each financial goal. Each level represents a different performance expectation considering factors such as the Company’s prior year’s performance and strategic plan growth goals.

The threshold goal is set at what is considered the minimum acceptable performance and corresponds to what is considered to represent a below median compensation level.

Target is established at a performance level aligned with the Company’s business plan for the fiscal year, and the corresponding compensation level equates to what is considered competitive as compared to data derived from the General Industry Group market surveys and Peer Group data.

The maximum goal equates to what is believed to represent superior performance for the year and, correspondingly, an above median compensation opportunity.

The following financial goals are part of the scoring of annual cash incentive plans for Named Executive Officers:

 

Metric

 

Definition

 

RationaleReason Selected

Fee-Based RevenuesThe Company’s total annual revenues from continuing operations less distribution revenues that consist primarily of postage-related fees.Due to the importance of increasing the Company’s fee-based revenues as a foundation for future growth.
Income before Taxes and Extraordinary Items Earnings from continuing operations before income taxes, as adjusted to exclude the impact of extraordinary items as determined by the Compensation Committee.Committee (“EBT”). In fiscal year 2013,2014, the adjustments consisted of costs associated with acquisitions or divestitures, other than the acquisition of Bonaire, and reorganization and restructuring costsprograms to the extent such programs resulted in the amountaggregate net expenses in excess of $25$6 million. Selected as a measurement of performance, and given the most weighting, because it is oneOne of Broadridge’s primary measures of annual corporate growth and is believed to provide alignment with our stockholders’ interests.
Fee-Based RevenueThe Company’s total annual revenues from continuing operations less distribution revenues that consist primarily of postage-related fees.Selected as a performance metric, and given equal weighting to Total Recurring Revenue Closed Sales because of the importance of increasing the Company’s fee-based revenues as a foundation for future growth.
Total Recurring Revenue Closed Sales (all NEOs other than Mr. Sheldon) The total amount of recurring revenue closed sales in the fiscal year. Closed sales represent anticipated revenues for new client contracts that were signed by Broadridge during the periods referenced. A sale is considered closed when the Company has received the signed client contract. ForThe amount of a recurring revenue closed sales, the amount of the closed sale is generally a reasonable estimate of the annual revenues based on client volumes or activity,to be generated by the closed sale excluding pass-through revenues, such as distribution revenues. Used as a performance metric because ofDue to the importance of setting and implementing top-line growth strategies that drive the Company’s sales performance.
Free Cash Flow (applicable only for Mr. Sheldon)The Free Cash Flow goal is defined as the net cash flow provided by operating activity of continuing operations less cash used for capital expenditures and software purchases, as adjusted to exclude the impact of extraordinary items and conversion assistance payments for new business not contemplated in the Company’s approved operating plan. In fiscal year 2013, the adjustments consisted of restructuring costs in the amount of $5.4 million.As the CFO, Mr. Sheldon’s core responsibilities include the sound management of the Company’s cash flow, and therefore, Free Cash Flow is an important metric in evaluating his performance.

In addition to the Broadridge Company-wide Financial Goals, Mr. Schifellite’sthe financial goals for Mr. Schifellite and Mr. Dampeer include divisional goals based on the resultsperformance of the Bank/Broker/Issuer divisionbank, broker-dealer and corporate issuer solutions business of theour Investor Communication Solutions segment (“Bank/Broker/Issuer division”) because Mr. Schifellite isthey are directly responsible for the results of thatthe division. The Broadridge Company-wide goals and those of the Bank/Broker/Issuer division are given equal weight in the determination of Mr. Schifellite’sthe cash incentive award.

awards for Mr. Schifellite and Mr. Dampeer.

Also, for divisional officers such as Mr. Schifellite and Mr. Dampeer, divisional total recurring revenue closed sales is split into two components: Core Closed Sales (sales with revenues of less than $5 million in annual value) and Strategic Closed Sales (sales with revenues equal to or greater than $5 million in annual value). For divisional officers, if 85% or greater of their Core Recurring Revenue Closed Sales target is achieved, the full value of the actual Strategic Recurring Revenue Closed Sales will be credited toward the achievement of the divisional total recurring revenue closed sales target. If 85% or greater of their Core Recurring Revenue Closed Sales target is not achieved, a flat amount of $5 million for each Strategic Recurring Revenue Closed Sale will be credited toward achievement of the divisional total recurring revenue closed sales target.

Our purpose in focusing on Core Recurring Revenue Closed Sales for divisional officers is to drive revenue for fiscal year 2015 as our core sales typically convert into revenues in less than 12 months.

Determination of Fiscal Year 2013 Annual Cash Incentive Award2014 Corporate Officer Bonus Financial Goals

The financial goals portion of the 2013 cash incentive award was determined as follows:

 

Financial Metrics

Target Goals

Goal Ranges

Achievement% Earned

Fiscal Year 2013 Broadridge Income before Taxes and Extraordinary Items

$340.0 million

$238.0 – $442.0 million

(70 – 130% of target)

$348.2 million108.0

Fiscal Year 2013 Broadridge Fee-Based Revenue

$1,674.0 million

$1,422.9 – $1,925.1 million

(85 – 115% of target)

$1,676.1 million100.8

Fiscal Year 2013 Broadridge Total Recurring Revenue Closed Sales

$130.0 million

$91.0 – $169.0 million

(70 – 130% of target)

$120.8 million88.2

Fiscal Year 2013 Broadridge Free Cash Flow

$219.0 million

$153.3 – $284.7 million

(70 – 130% of target)

$225.4 million109.7

Financial Metrics

 % of Bonus
(Corporate
Shared
Services
Officers)
 % of Bonus
(Divisional
Officers)
 Target Goals  

Threshold

(Payment = 50%
of Target)

 

Maximum

(Payment =
200% of Target)

 Achievement  % Earned

Fiscal Year 2014 Broadridge Fee-Based Revenues

 15%   7.5% $1,747 million   

$1,485 million

(85% of target)

 

$2,009 million

(115% of target)

 $1,787 million   115.3%

Fiscal Year 2014 Broadridge Income before Taxes and Extraordinary Items

 35% 17.5% $396 million   

$277 million

(70% of target)

 

$515 million

(130% of target)

 $425 million   124.4%

Fiscal Year 2014 Broadridge Total Recurring Revenue Closed Sales

 20%    10% $135 million   

$95 million

(70% of target)

 

$176 million

(130% of target)

 $125 million     87.5%

As stated above, Mr. Schifellite’sthe annual cash incentive is alsoawards for Mr. Schifellite and Mr. Dampeer include goals based on the performance of the Bank/Broker/Issuer division. The Company has not disclosed the fee-based revenue, earnings before interestrevenues, fee-based EBT, and taxes, and total recurring revenue closed sales targets and ranges pertaining to the Bank/Broker/Issuer division because this information is not otherwise publicly disclosed by the Company, and the Company believes it would cause competitive harm to do so in this Proxy Statement. The probability of achieving the Bank/Broker/Issuer division goals was substantially uncertain at the time the goals were set. Achievement of the Bank/Broker/Issuer division goals ranged from 113.6% to 200% in fiscal year 2014, 110.6% to 121.7% in fiscal year 2013, 77% to 91% in fiscal year 2012, and 0% to 64.5% in 2011.

Corporate Officer Bonus Plan—Client Satisfaction Goal

Broadridge conducts a client satisfaction survey for each business unit annually. Each year, target, threshold and stretch goals are established, with target and stretch award levels based on exceeding the prior year’s performance. The results of the client satisfaction survey are included as a component of the Corporate Officer Bonus Plan because of the importance of client retention to the achievement of Broadridge’s revenue goals.

For the Named Executive Officers, other than Mr. Schifellite and Mr. Dampeer, client satisfaction is the weighted average achievement against pre-set targets in Broadridge’s client satisfaction survey of the Securities Processing Solutions and Investor Communication Solutions business segments. The scores for Mr. Schifellite

and Mr. Dampeer are based solely on the performance of the Bank/Broker/Issuer division. The percentage earned by Mr. Schifellite and Mr. Dampeer was 200% of target, and the percentage earned by the other Named Executive Officers who are currently corporate officers was 193.4% of target.

The Company-wide financial and client satisfaction goals had a weighted average score of 117% of target based on the achievements set forth above.

Corporate Officer Bonus Plan—Strategic and Leadership Goals

Strategic and leadership goals are developed for and communicated to each executive at the beginning of a fiscal year based on each officer’s role and the strategic plan. By aligning a portion of each Named Executive Officer’sexecutive officer’s cash incentive bonus to strategic and leadership goals, the Compensation Committee reinforces their importance. The actual amount payable based on the strategic and leadership goals is determined based on the Committee’s evaluation of the degree to which each Named Executive Officer achieved theirhis or her goals.

Strategic and Leadership Goals—CEO

The following are the primary strategic and leadership goals that were communicated to Mr. Daly by the Compensation Committee at the beginning of the fiscal year:

 

Develop and articulate a long-term (five year) strategy for Broadridge; andAchieve the fiscal year financial targets

 

AcquireDrive strategic growth through new products, innovation and develop strongglobal expansion

Develop executive talent and ensure a smooth executive succession process.bench strength throughout the organization

In evaluating Mr. Daly’s achievement of these strategic and leadership goals, the Compensation Committee considered the following key accomplishments, which are set forth in the CEO scorecard:

 

Maintained operational excellenceMr. Daly’s very strong personal performance in fiscal year 2014 in leading the Company to the achievement of record results, including his expanded role in the Company as reflected in high client satisfaction scores;

Provided strategic leadership reflected in the Company’s recent impactful acquisitions including the Bonaire Software Solutions, LLC acquisition which closed after the endabsence of a chief financial officer and chief sales officer for much of the fiscal year;year

 

Provided strategic leadership reflected in international expansion and new partnerships/alliances inThe Company’s positive stock price performance as a result of the industry; and

Enabled future growth by developing new products and building the management team.Company’s strong operational performance

Based on these accomplishments and the Compensation Committee’s assessment of his overall performance, the Committee decided to pay Mr. Daly 127.75%175% of the target on the strategic and leadership goals portion of his cash incentive award.

Strategic and Leadership Goals—Other NEOsNamed Executive Officers

The strategic and leadership goals for the other Named Executive Officers were similar to the qualitative measures used by the Compensation Committee to evaluate the performance of Mr. Daly. The goals varied by Named Executive Officer and were set and communicated at the beginning of the fiscal year.Officer. The following key accomplishments were considered in determining the achievement of the strategic and leadership goals portion of the other Named Executive Officers’ cash incentive awards:

 

Broadridge reported strong operating resultsSuccess in fiscal year 2013 with revenues increasing 6% to $2,431 million, compared to $2,304 million in the prior fiscal year;driving strategic growth through new products, innovation and global expansion

 

Broadridge achieved record Non-GAAP diluted earnings per share of $1.88, which was a 13% increase over fiscal year 2012;Increased revenues from our emerging and acquired products portfolio

 

Broadridge entered into a strategic alliance with Accenture plcEnhanced productivity and jointly launched a post-trade processing platform for investment banks operating in Europe, Asia, Australia and the Middle East that is powered by Broadridge technology and also signed its first client for that service;leverage

 

Broadridge identified Bonaire Software Solutions, LLC, a leaderProgress on investments in investment management fee calculating solutions, as an acquisition targetthree major strategic industry trends of digitization, cost mutualization and closed the acquisition after the end of the fiscal year; andbig data

 

Broadridge achievedMaintained a 99%strong client revenue retention rate in fiscal year 2013.of 98%

Mr. Daly made a recommendation to the Compensation Committee of a payment on the strategic and leadership goals metric for each of the other Named Executive Officersexecutive officers which itthe Committee reviewed in assessing the performance of the other Named Executive Officers in relation to their strategic and leadership goals. The amounts earned by the other Named Executive Officers who are currently corporate officers on the strategic and leadership goals portion of their cash incentive awards ranged from 125% to 140%was approximately 134% of their respective target amounts. Mr. Hogan earned 130% of target on this component of his Corporate Officer Bonus and MBO Bonus; Mr. Liberatore earned 140% of target on this component of his MBO Bonus; and the scoring on this component for Mr. Sheldon was determined by his separation agreement at the weighted average of the Company-wide financial metric and client satisfaction goals score of 117% of target.

Annual Non-Officer Management by Objectives Cash Bonus Plan

Associates and executives are permitted to participate in one annual cash incentive plan at a given point in time. Mr. Hogan participated in the Corporate Officer Bonus Plan in the first half of fiscal year 2014 and in the MBO Bonus Plan in the second half of fiscal year 2014 after he was no longer an executive officer.

MBO Bonus targets are set as a percentage of base salary for each eligible associate and are based on several factors, including the role, managerial and technical responsibility, external compensation competitiveness and experience in the role. MBO Bonuses are scored and payments are determined through a multi-step process:

Funding the MBO Bonus Pool Overall

The MBO Bonus pool is funded based on the Company’s achievement of fiscal year-end EBT against a pre-set goal. In fiscal year 2014, the plan paid out at 124% of target based upon achievement of the same EBT metric as the Corporate Officer Bonus Plan of $425 million. The target pool for distribution among all MBO Bonus Plan eligible associates is the sum of the dollar values of all MBO Bonus targets at fiscal year-end.

Allocating the MBO Bonus Pool

Once the total pool is determined, it is allocated as follows:

65% of the pool is allocated to achievement of financial goals (60%) and client satisfaction goals (5%). This amount is allocated directly to MBO Bonus Plan participants based on the financial achievement of Broadridge and its divisions; and

35% of the pool is allocated to individual achievement. This amount is allocated to managers of MBO Bonus Plan participants, who then have the responsibility to distribute the allocation among their associates based on their individual achievement measured against personal or team goals.

Scoring Financial Achievement (60% of total target)

Shared services executives, including Mr. Hogan and Mr. Liberatore, are scored on the same financial metrics as the Corporate Officer Bonus Plan:

Fee-based Revenues (15%)

EBT, as adjusted to exclude the impact of certain extraordinary items (30%)

Recurring Revenue Closed Sales (15%)

Scoring Client Satisfaction GoalAchievement (5% of total target)

Broadridge conducts a clientClient satisfaction survey forgoals are scored based on actual achievement against pre-set goals established by each business unit annually. Each year, target, thresholdunit. For shared services executives, including Mr. Hogan and stretch goals are established; target award levels are established based on exceeding the prior year’s performance. Results of the client satisfaction survey are included as a component of Named Executive Officer cash incentive award plans because of the importance of client retention to Broadridge’s revenue.

For the Named Executive Officers, other than Mr. Schifellite,Liberatore, client satisfaction is the weighted average achievement vs.against pre-set targets in BroadridgeBroadridge’s client satisfaction survey scoring inof the Securities Processing Solutions and Investor Communication Solutions business segments. Mr. Schifellite’s score

Scoring Individual Achievement (35% of total target)

Twenty-five percent of this component is based solely on personal goals which are assessed and scored by managers. The manager’s assessment of performance is used to distribute allocated MBO Bonus funds. The

remaining 10% of this component is a leadership goal that is designed to reward associates who demonstrate the performanceability to impact important non-financial measures such as influencing broad collaborative change in the organization and demonstrated leadership of the Bank/Broker/Issuer division. The percentage earned by Mr. Schifellite was 200% of target and the amount earned by other Named Executive Officers was 199.5% of target.organizational development initiatives.

Fiscal Year 20132014 Annual Cash Incentive Award Payments

The results of the annual cash incentive award calculations for fiscal year 20132014 are as follows:

 

  Fiscal Year 2013 Annual Cash
Incentive Totals
   Fiscal Year 2014 Annual Cash
Incentive Totals
 

Name

  Target
$
   Earned
$
   Earned as % of
Target
   Target
$
   Earned
$
   Earned as % of
Target
 

Richard J. Daly

  $1,179,750    $1,330,611     112.8  $1,320,000    $1,738,770     131.7

Dan Sheldon

  $355,350    $411,700     115.9

John Hogan

  $810,000    $908,000     112.1

Timothy C. Gokey

  $610,075    $706,800     115.9  $711,100    $865,800     121.8

Robert Schifellite

  $473,616    $571,900     120.8  $521,452    $697,337     133.7

Lyell Dampeer

  $309,000    $413,226     133.7

Dan Sheldon (1)

  $292,800    $343,572     117.3

John Hogan (2)

  $767,150    $940,170     122.6

Michael Liberatore (3)

  $111,267    $142,973     128.5

(1)Represents a prorated target cash incentive award for the period Mr. Sheldon was employed during fiscal year 2014 prior to his separation from the Company.
(2)Represents an annualized target cash incentive award based on Mr. Hogan’s eligibility for a Corporate Officer Bonus for his role as President through December 31, 2013, and for an MBO Bonus for the remainder of the fiscal year.
(3)Mr. Liberatore also received a special cash bonus of $70,000 for his service as Acting Principal Financial Officer.

Long-Term Equity Incentive Compensation

The purpose of long-term equity incentive compensation provided under the Omnibus Plan is to align executive officer financial interests with those of stockholders, and to improve our long-term profitability and stability through the attraction and retention of superior talent.

The Company grants both stock options and performance-based RSUs to its executive officers annually in order to reinforce key long-term business strategies. Stock options, with an expiration date of ten10 years from the grant date, align executive officers with stockholder interests to create long-term growth in the Broadridge stock price. Performance-based RSUs, with a two-year performance period prior to a vesting period, reinforce year-over-year EPS growth, which has an impact on the Company’s stock price growth.

Long-Term Equity Incentive Grants

Each Named Executive Officer and other executive officers haveofficer has an annual long-term equity incentive target grant denoted in terms of dollar value, which areis allocated evenly between stock options and performance-based RSUs. TheseBroadridge’s grant guidelines are generally intended to result in a median total direct compensation opportunity when combined with the cash compensation opportunity.

The Compensation Committee considers recommendations from the CEO with regard to stock option and performance-based RSU grants to the executive officers other than himself. The Compensation Committee retains full responsibility for approval of individual grants.

Stock Options

In September 2013, the Compensation Committee determined the target dollar value of stock options to be granted to each executive officer, and the stock option grants were approved and made the following

February 2014. The stock option componenttarget dollar value is converted into grants of stock options by dividing the target dollar value by an assumed option value determined using a standard stock option valuation model under FASB ASC Topic 718 and based on a 30-day average closing price of Broadridge Common Stockcommon stock, typically determined one week prior to the applicable Compensation Committee meeting. In addition, the performance-based RSU dollar targets are converted into performance-based RSUs based on the average closing price of Broadridge Common Stockmeeting in the month of grant. The use of an average closing price for purposes of converting dollar value targets into shares is intended to reduce the impact of short-term stock price volatility on individual awards, thereby mitigating the risk of a windfall or impairment to the award opportunity.February.

The individual stock option and performance-based RSU grants to the CEO, Named Executive Officers and the other executive officers are determined and approved by the Compensation Committee. Stock options and performance-based RSUs each represent 50% of the value of total awards for all Named Executive Officers. The Compensation Committee considers recommendations from the CEO with regard to stock option and performance-based RSU grants to the executive officers, including the Named Executive Officers, other than himself. The Compensation Committee retains full responsibility for approval of individual grants and the aggregate number of stock options and performance- and time-based RSUs granted for all eligible employees.

Stock Options

The exercise price equals the Common Stockcommon stock closing price on the date of the grant (i.e., fair market value). All stockStock option grants are generally made effective two business days following the Company’s next quarterly earnings release after the grant’s approval. Stock options have a 10-year term. The value of stock optionsWe require that executives agree to be grantedbound by a restrictive covenant agreement containing non-competition, non-solicitation and confidentiality provisions as a condition to each Named Executive Officer is determined in September, and thereceiving a grant.

Annual stock options are approved and granted the following February.

Stock options awarded to executives including Named Executive Officers, vest 25% per year on the anniversary date of the grant for the following four years, subject to continued employment with the Company.

 

Performance-Based Restricted Stock Units

The performance criteria under the Omnibus Plan required to earn RSUs, and the individual awards to the CEO and the other Named Executive Officers, are approved by the Compensation Committee prior to the grant of awards. The fiscal year 20132014 performance-based RSU award and target values were approved in September 20122013 and the awards were granted on October 1, 2012.2013. We require that executives agree to be bound by a restrictive covenant agreement containing non-competition, non-solicitation and confidentiality provisions as a condition to receiving a grant.

The performance-based RSU dollar targets are converted into RSUs based on the average closing price of Broadridge common stock in the 30 days prior to approval of the grant. The use of an average closing price for purposes of converting dollar value targets into shares is intended to reduce the impact of short-term stock price volatility on individual awards, thereby mitigating the risk of a windfall or impairment to the award opportunity.

The number of performance-based RSUs that are earned after the conclusion of a two-year performance period depends on Broadridge’s financial performance over the performance period

compared to a pre-set goal. For the fiscal year 20132014 award, the financial metric is the average adjusted EPS performance over the fiscal years 20132014 and 20142015 performance cycle. This metric was selected because it is Broadridge’s primary measure of long-term corporate profitability and is believed to provide alignment with our stockholders’ interests. The number of shares that can be earned based on performance ranges from 0% to 150% of the total target RSUs. No plan participant receives dividend equivalents during any part of the vesting cycle of any performance-based awards.

Once the number of earned RSUs is determined at the end of the performance period, they will vest on April 1st of the following calendar year, unless the Named Executive Officer is not actively employed with Broadridge on the vesting date, thus resulting in a 30-month cycle from date of award to date of vesting.vesting, provided the participant is employed with Broadridge on the vesting date. Upon vesting, the RSUs convert to Broadridge shares at a ratio of one Broadridge share for each RSU. RSUs do not earn or accrue dividends or dividend equivalents during the vesting period.

In addition to his annual stock option award grant, in fiscal year 2014 Mr. Dampeer received a special stock option award with a target grant value of $400,000 for retention purposes and in recognition of his critical role with the Company. This award was granted on February 10, 2014, and vests 25% per year on the anniversary of the date of the grant for the following four years, provided Mr. Dampeer is actively employed with Broadridge on the vesting date.

Mr. Liberatore received non-officer compensation including long-term equity awards in the form of time-based RSUs, performance-based RSUs and stock options. Time-based RSU awards are approved by the Compensation Committee prior to grant and the conversion from a dollar target to units is done using the same methodology as performance-based RSUs. The fiscal year 2014 RSU awards were approved in September 2013

and the awards were granted on October 1, 2013. Time-based RSUs will vest 30 months after grant, provided the participant is actively employed with Broadridge on the vesting date. Upon vesting, the RSUs convert to Broadridge shares at a ratio of one Broadridge share for each time-based RSU. Participants do not receive dividends or dividend equivalents during any part of the vesting cycle.

In addition to his annual stock option award grant, in fiscal year 2014 Mr. Liberatore received a special stock option award with a target value of $200,000 to reflect his performance and critical role with the Company. This award was granted on February 10, 2014, and vests in full on the four-year anniversary of the date of grant, provided Mr. Liberatore is actively employed with Broadridge on the vesting date.

The performance-based RSU awards granted to the Named Executive Officers in fiscal year 20132014 are detailed in the “Long-Term Equity Incentive Compensation—Fiscal Year 2013 Performance-Based2014 RSU Target Awards” section of this Proxy Statement.

The results of the conclusion of the performance-based RSU cycle for fiscal years 20122013 and 20132014 are detailed in the “Long-Term Equity Incentive Compensation—Fiscal Year 20122014 Performance-Based RSU Earned Awards” section of this Proxy Statement.

Fiscal Year 20132014 Long-Term Equity Incentive Target Changes

In September 2012,2013, taking into account the review of the Peer Group market analysis completed by Cook & Co. and for the reasons described below, the Compensation Committee approved the following increases to the long-term equity incentive award targets for fiscal year 20132014 for three of the Named Executive Officers:

 

Named Executive Officer

  Long-Term Equity Incentive
Target
   

Rationale

  Long-Term Equity Incentive
Target
    
 
 
Fiscal Year
2012
  
  
   
 
Fiscal Year
2013
  
  
    
 
Fiscal Year
2013
 
  
   
 
Fiscal Year
2014
 
  
  

Richard J. Daly

  $2,250,000    $2,500,000    

Reflects the positive assessment of Mr. Daly’s performance and leadership through the CEO evaluation process and brings his total target direct compensation closer to the median of chief executive officers in the Peer Group

  $2,500,000    $3,000,000    Reflected the positive assessment of Mr. Daly’s performance and leadership, and brings his total target direct compensation closer to the median of chief executive officers in the Peer Group

Timothy C. Gokey

  $825,000    $900,000    

Reflects his expanded responsibilities resulting from his promotion to the role of COO

  $900,000    $1,100,000    Reflected Mr. Gokey’s expanded responsibilities resulting from his promotion to the role of COO

Robert Schifellite

  $600,000    $700,000    

Reflects the significant business impact of his performance relating to leading Broadridge’s largest business unit and his continued value to the Company

Dan Sheldon (1)

  $600,000    $800,000    Brought Mr. Sheldon’s total target direct compensation closer to the median of chief financial officers in the Peer Group

(1)Represents the full long-term incentive target for fiscal year 2014. Mr. Sheldon’s actual fiscal year 2014 long-term incentive award was $400,000, which represents the performance-based RSU award he received on October 1, 2013. Mr. Sheldon was not eligible to receive the remaining $400,000 of the long-term incentive because he was no longer an officer of the Company when this award was granted.

Fiscal Year 20132014 Stock Option Awards

On February 4, 2013,5, 2014, the Compensation Committee approved the grant of the following stock option awards, with a grant date of February 11, 2013.10, 2014.

 

Name

  Stock Option
Awards (#) (1)
   Target Value ($) (2)   Stock Option
Awards (#) (1)
   Target Value ($) 

Richard J. Daly

   321,493    $1,250,000     166,112    $1,500,000  

Dan Sheldon

   77,158    $300,000  

John Hogan

   157,532    $612,500  

Timothy C. Gokey

   115,738    $450,000     60,908    $550,000  

Robert Schifellite

   90,018    $350,000     38,759    $350,000  

Lyell Dampeer

   12,735    $115,000  

Lyell Dampeer (2)

   44,296    $400,000  

Dan Sheldon (3)

   N/A     N/A  

John Hogan

   13,842    $125,000  

Michael Liberatore

   5,537    $50,000  

Michael Liberatore (4)

   20,703    $200,000  

 

(1)The number of stock options awardedgranted was determined by dividing the target value by the expectedan assumed option value of each stock option based on the product of the 30-day average closing price of Broadridge Common Stock granted as determined byusing a standard stock option valuation model under FASB ASC 718.Topic 718 and based on a 30-day average closing price of Broadridge common stock in December 2013 and January 2014 of $38.86.
(2)Broadridge awarded halfIn addition to his annual stock option award grant, Mr. Dampeer received a special stock option award with a target grant value of each executive officer’s long-term incentive$400,000 for retention purposes and in recognition of his critical role with the Company.
(3)Mr. Sheldon was not eligible for a stock option award in fiscal year 2014 because he was no longer an officer of the Company when this award was granted.
(4)In addition to his annual stock option award grant, Mr. Liberatore received a special stock option award with a target grant value of $200,000 in recognition of his performance and critical role with the form of stock options.Company.

Fiscal Year 2013 Performance-Based2014 RSU Target Awards

In September 2012,2013, the Compensation Committee approved the grant of the following performance-based and time-based RSU target awards, with a grant date of October 1, 2012.2013.

 

Name

  RSU
Target Award (#) (1)
   Target Value ($) (2)   Form of Award   RSU
Award (#) (1)
   Value ($) (2) 

Richard J. Daly

   55,334    $1,250,000     Performance-based     49,423    $1,500,000  

Dan Sheldon

   13,280    $300,000  

John Hogan

   27,113    $612,500  

Timothy C. Gokey

   19,920    $450,000     Performance-based     18,121    $550,000  

Robert Schifellite

   15,493    $350,000     Performance-based     11,532    $350,000  

Lyell Dampeer

   Performance-based     3,789    $115,000  

Dan Sheldon (3)

   Performance-based     13,179    $400,000  

John Hogan

   Performance-based     20,181    $612,500  

Michael Liberatore

   Performance-based     1,565    $47,500  

Michael Liberatore

   Time-based     1,565    $47,500  

 

(1)The target number of performance-based RSUs and the number of time-based RSUs awarded was determined by dividing the target value by the 30-day average closing price of theBroadridge Common Stock in August 20122013 of $22.59$30.35 per share, rounded down to the nearest share. Performance-based awards are reflected at target.
(2)Broadridge awarded halfPerformance-based awards are valued at target.
(3)Represents the performance-based RSU award granted to Mr. Sheldon on October 1, 2013. In accordance with Mr. Sheldon’s separation agreement, the award was prorated to 4,942 RSUs to reflect the portion of each officer’s long-term incentive target in the form of performance-based RSUs.performance period he was employed prior to his separation from the Company.

The number of shares that can be earned based on adjusted EPS performance over the fiscal years 20132014 and 20142015 performance period ranges from 0% to 150% of the total target RSUs. In August 2012,2013, the Committee set the fiscal years 20132014 and 20142015 EPS goals, and the applicable automatic adjustments to these performance goals were established by the Committee in accordance with the Omnibus Plan at the time the performance goals were set. If earned, these RSUs will vest on April 1, 2015.2016.

Fiscal Year 20122013-2014 Performance-Based RSU Earned Awards

The goals for performance-based RSUs granted on October 1, 20112012 were set and evaluated by the Compensation Committee in August 2011. At2012. Following the end of the two-year performance period, in August 2013, the Compensation Committee determined that the Named Executive Officers earned 100%150% of the performance-based RSU target award amounts, granted on October 1, 2011, due to the achievement of average adjusted EPS of $1.695$1.98 in fiscal years 20122013 and 2013.2014. Broadridge’s adjusted EPS achievement for fiscal years 20122013 and 20132014 was $1.57$1.78 and $1.82,$2.18, respectively.

In scoring the achievement of the fiscal year 2012 EPS goal, the Compensation Committee adjusted the EPS result for impairment charges related to Penson, costs associated with the migration of our data center to IBM,

restructuring charges, and costs related to the Company’s acquisition of Paladyne Systems, Inc. In scoring the achievement of the fiscal year 2013 EPS goal, the Compensation Committee adjusted the EPS result for restructuring and impairment charges related to severance, one-time system development costs, and the restructuring and outsourcing of certain processing related to our desktop applications. In scoring the achievement of the fiscal year 2014 EPS goal, the Compensation Committee adjusted the EPS result for costs associated with acquisitions or divestitures, other than the acquisition of Bonaire, and reorganization and restructuring programs to the extent such programs resulted in aggregate net expenses in excess of $6 million.

The earned RSUs will vest and convert to shares of Common Stockour common stock on April 1, 2014,2015, provided that the plan participant remains actively employed with Broadridge on the vesting date.

 

Financial Metric

 

Target Goal

 

Threshold Goal Range

 

Maximum Goal

Achievement

 % Earned
EPS Average for
Fiscal Years 2012 2013
and 20132014
 $1.64-1.65-$1.701.71 per
share
$1.35 per share
(50% of target)
$1.95 per share
(150% of target)
$1.98 per share $1.34-$1.94 per share (50-150% of target)$1.695 per share100%150%

The number of performance-based RSUs earned by each Named Executive Officer was as follows:

 

Name

  Original RSU
Target Award (#)
   Actual RSUs
Achieved (#)
   Value on
Payment
Determination
Date ($) (1)
   Original RSU
Target Award (#)
   Actual RSUs
Achieved (#)
   Value on
Payment
Determination
Date ($) (1)
 

Richard J. Daly

   53,750     53,750    $1,571,650     55,334     83,001    $3,373,161  

Dan Sheldon

   14,333     14,333    $419,097  

John Hogan

   29,264     29,264    $855,679  

Timothy C. Gokey

   15,527     15,527    $454,009     19,920     29,880    $1,214,323  

Robert Schifellite

   14,333     14,333    $419,097     15,493     23,239    $944,433  

Lyell Dampeer

   5,090     7,635    $310,286  

Dan Sheldon (2)

   11,620     17,430    $708,355  

John Hogan

   27,113     40,669    $1,652,788  

Michael Liberatore

   1,992     2,988    $121,432  

 

(1)The value on the payment determination date is based on the closing price of the Common Stockcommon stock on August 1, 20136, 2014 of $29.24$40.64 per share.
(2)Represents the prorated portion of award of 13,280 performance-based RSUs granted to Mr. Sheldon on October 1, 2012. In accordance with Mr. Sheldon’s separation agreement, the award was prorated to reflect the portion of the performance period he was employed prior to his separation from the Company.

Corporate Governance Policies

Stock Ownership and Retention and Holding Period Guidelines

The Company’s stock ownership guidelines reinforce the objective of increasing equity ownership of the Company among executive officers in order to more closely align their interests with those of our stockholders. The ownership guidelines are based on each executive officer acquiring and holding a total equity value at least equal to a specified multiple of his or her annual base salary. The multiples of base salary by executive officer position are:

 

Chief Executive Officer: 6x base salary

 

Chief Financial Officer: 3x base salary

 

President and Chief Operating Officer: 4x base salary

 

All other Corporate Senior Vice Presidents and Corporate Vice Presidents: 2x base salary

Equity ownership that counts toward this ownership objective are shares owned outright, shares beneficially owned by direct family members (spouse, dependent children), and shares held in the executive’s account under a 401(k) plan or other savings plan. Unexercised stock options and unvested RSUs do not count toward satisfying the guideline goals.

The Compensation Committee has also established stock retention and holding period guidelines for the executive officers, including the Named Executive Officers.officers. Specifically:

 

An executive officer should retain at least 50% of his or her net profit shares realized after the exercise of stock options or vesting of RSUs until the guideline ownership level is reached. Net profit shares are the shares remaining after the sale of shares to finance payment of the stock option exercise price, taxes and transaction costs owed at exercise or vesting.

After the guideline ownership level is met, the executive officer must continue to hold at least 50% of future net profit shares for one year.

Presently, all Named Executive Officersexecutive officers are in compliance with the stock retention requirement and are making progress toward meeting the ownership multiples.

Executive Officer Compensation Clawback Policy

The Company maintains a clawback policy that requires reimbursement by an executive officer of all or part of any bonus, incentive or equity-based compensation that is paid, awarded or vests if and to the extent that: (a) the payment, grant, or vesting was predicated upon the achievement of financial results that were subsequently the subject of a financial restatement due to material noncompliance with financial reporting requirements by the Company, and (b) a lower payment, award, or vesting would have occurred based upon the restated financial results.

Under this policy, the Company will, to the extent allowable under applicable laws, require reimbursement of any bonus, incentive or equity-based compensation previously awarded or cancel any unvested, unexercised or deferred stock awards previously granted to the executive officer in the amount by which the individual executive officer’s bonus, incentive or equity-based compensation for the relevant period exceeded the lower amount that would have been received based on the restated financial results. However, the Company will not seek to recover bonuses, incentive or equity-based compensation that was paid or had vested more than three years prior to the date the applicable restatement is disclosed.

Pre-Clearance and Insider Trading Policy and Prohibition on Hedging and Pledging

The Broadridge trading policy for the Company’s executive officers and directors provides that the Company’s executive officers and directors or their immediate family members, family trusts or other controlled

entities cannot engage in any transaction in Broadridge securities (including purchases, sales, broker assisted cashless exercises of stock options and the sale of the Common Stockcommon stock acquired pursuant to exercise of stock options) without first obtaining the approval of the Company’s General Counsel. Approval of transactions can be sought only during a defined window period when the executive officers and directors are not in possession of material non-public information about the Company. The window period is generally defined as the period of time commencing on the second day after the public release by Broadridge of its quarterly and annual earnings information and ending on the date of distribution to Broadridge’s executive officers of the “flash” financial performance results for the second month of the then current fiscal quarter, but can be closed by the Company’s General Counsel at any time if the person seeking approval is in possession of material non-public information. The Broadridge trading policy also clarifies the obligations of Broadridge’s officers, directors and employees with respect to securities law prohibitions against insider trading. In addition, the trading policy includes prohibitions against hedging of economic exposure in Broadridge securities through derivative transactions and short sales, and also prohibits holding Broadridge securities in a margin account or pledging Broadridge securities.securities as collateral for a loan.

Change in Control Severance Plan and Enhancement Agreements

Our change in control severance plan is designed to neutralize the potential conflict our executivesexecutive officers could face with a potential change in control and possible termination of employment and to facilitate our ability to attract and retain executives as we compete for talented individuals in a marketplace where such protections are commonly offered.

In March 2007, the Broadridge Board of Directors adopted the Change in Control Severance Plan for Broadridge executive officers (the “CIC Plan”) to provide the executive officers of Broadridge equivalent protection in the event of a change in control as the change in control plan that was in place for executive officers

of ADP at the time of the spin-off of Broadridge from ADP. The purpose of the CIC Plan is to protect and enhance stockholder value by encouraging executive officers to evaluate potential transactions with independence and objectivity, ensuring continuity of management prior to and after a transaction, and ensuring that executives receive reasonable severance compensation in the event that their positions are eliminated as a result of a transaction.

All Named Executive Officers, other than Mr. Liberatore, participate in the CIC Plan. In addition, Mr. Hogan is no longer a corporate officer of the Company as of December 31, 2013, and is no longer a participant in the CIC Plan.

The CIC Plan is a “double-trigger” plan that requires both a change in control of the Company and a subsequent qualifying termination of employment in order for the executive officer to receive any payment under the plan. Under the CIC Plan, if a participant’s employment is terminated by the Company without “cause” or by the participant for “good reason,” as those terms are defined under the CIC Plan, within a three-year period following a change in control, the participant would be eligible to receive a severance payment and certain equity awards will be accelerated.

Mr. Daly and Mr. Hogan entered intoare each party to Change in Control Enhancement Agreements (the “Enhancement Agreements”) with the Company pursuant to(each an “Enhancement Agreement”) under which they areeach is entitled to receive, on an item-by-item basis, the greater of the benefits and payments under the Enhancement Agreements and the CIC Plan. The Enhancement Agreements were put in place at the time of the spin-off of Broadridge from ADP by the Board of Directors of ADP. In September 2013, Mr. Daly and Mr. Hogan agreed to amend the Enhancement Agreements to give up their right to an excise tax gross-up payment which could have been payable in the event of a qualified termination of their employment following a change in control of the Company.

The CIC Plan is a “double-trigger” plan that requires both a change in control of the Company and a subsequent qualifying termination of employment in order for the executive officer to receive any payment under the plan. Under the CIC Plan, if a participant’s employment is terminated by the Company without “cause” or by the participant for “good reason,” as those terms are defined under the CIC Plan, within a three-year period following a change in control, the participant would be eligible to receive a severance payment and certain equity awards will be accelerated. Please see the “Potential Payments Upon a Termination or Change in Control” section on page 70 of this Proxy Statement for further information regarding Broadridge’s CIC Plan and the Enhancement Agreements.Plan.

Officer Severance Plan

The Company maintains a severance plan for executive officers (the “Officer Severance Plan”), including the Named Executive Officers, with the exception of Mr. Hogan and Mr. Liberatore, in order to enhance recruitment and retention of senior officers who are key to our long-term success without the necessity of having separate employment agreements. The Officer Severance Plan provides for severance benefits when an executive officer is terminated without “cause” as defined in the Officer Severance Plan. Upon a qualifying termination the Named Executive Officersexecutive officer would be eligible to receive severance payments, and the vesting of certain equity awards will continue during the severance period. In the instance that a Named Executive Officeran executive officer is due benefits or payments under both the Officer Severance Plan and the CIC Plan, the Named Executive Officerexecutive officer would be eligible to receive the greater of the benefits and payments and the more favorable terms and conditions determined on an item-by-item basis. Please see the “Potential Payments Upon a Termination or Change in Control” section on page 70 of this Proxy Statement for further information regarding the Officer Severance Plan.

As a condition to receiving any severance payments under the Officer Severance Plan, Named Executive Officersexecutive officers will be required to enter into agreements that contain a general release of the Company and certain restrictive covenants, including non-competition provisions that will be in force for a longer period than was previously applicable under the Company’s award agreements (i.e., an additional 12 months for the CEO and an additional six months for all other executive officers).

Special Officer Separation Agreement with Mr. Sheldon

On February 5, 2014, following his return from a temporary medical leave of absence and in recognition of his 30 years of valued service to the Company, the Company and Mr. Sheldon entered into a special officer separation agreement. Additional information concerning the terms of Mr. Sheldon’s separation agreement is provided under the heading “Special Officer Separation Agreement with Mr. Sheldon” in the “Potential Payments Upon a Termination or Change in Control” section on page 72 of this Proxy Statement.

Retirement Plans and Benefits

Broadridge provides its Named Executive Officers with retirement benefits on the same terms as those offered to other employees generally through the Broadridge Financial Solutions, Inc. Retirement Savings Plan (the “401(k) Plan”), a tax-qualified defined contribution plan. The 401(k) Plan allows our U.S. employees to save for retirement on a tax-deferred or Roth after-tax basis, and Broadridge makes matching contributions to the 401(k) Plan to encourage participation in this plan.

In addition, the Named Executive Officers, other than Mr. Young and Mr. Liberatore, participate in the Company’s Supplemental Officer Retirement Plan (“SORP”), a or SERP, which are non-qualified supplemental retirement plan.plans. The Broadridge SORP provides supplemental benefits to executive officers and is intended to support the objective of attracting and retaining key talent by

improving the market competitiveness of our overall rewards package and tying the receipt of value to continued tenure through a defined retirement age. The Broadridge SERP provides similar benefits for certain non-officer executives and Mr. Dampeer. Please see the “Pension Benefits Table” on page 68 in this Proxy Statement for further information regarding Broadridge’s retirement plans.

In August 2014, the Committee made the following changes to our executive retirement program, effective January 1, 2015:

The SORP and SERP were closed to new participants. Future accruals will continue for existing participants.

The DC Plan was amended to close it to new deferrals and Company contributions.

A new ERSP was adopted for those executives who are not participants in the SORP or SERP. The ERSP is a defined contribution restoration plan that mirrors Broadridge’s qualified 401(k) Plan.

The purpose of the ERSP is to provide specified deferred compensation benefits to a select group of United States-based management or highly compensated employees. The plan allows for voluntary associate deferrals of base salary and/or cash incentive compensation and employer contributions above the qualified defined contribution compensation and deferral limitations.

The changes to the Company’s retirement benefits are intended to limit non-performance-based compensation and increase the emphasis on the pay for performance elements of our executive compensation program consistent with evolving market practices.

Executive Retiree Health Insurance Plan

Certain key executives, including all Named Executive Officers, who terminate employment with the Company after they have attained age 55 and have been credited with at least 10 years of service are also eligible to participate in our Executive Retiree Health Insurance Plan. This Planplan is a post-retirement benefit plan pursuant to which the Company helps defray the health care costs of certain eligible key executive retirees and qualifying dependents until they reach the age of 65. This plan is intended to support the objective of attracting and retaining key talent by improving the market competitiveness of our overall rewards package.

Please see the “Payments Upon a Termination or Change in Control Table” in this Proxy Statement.

Non-Qualified Executive Deferred Compensation Plan

Broadridge sponsors the Executive Deferred Compensation Plan, (the “DC Plan”), an unfunded, non-qualified deferred compensation plan for the benefit of its Named Executive Officers and selected other executives each year. The DC Plan allows Broadridge participants to defer the obligation to pay certain income taxes until the time the funds are distributed, thus providing an alternative investment vehicle for financial planning. None

Mr. Dampeer elected to defer $50,000 of the Named Executive Officers deferred any compensation earned inhis fiscal year 20132014 Officer Bonus and Mr. Liberatore elected to defer $20,000 of his fiscal year 2014 MBO Bonus into the DC Plan.

Please see the “Non-Qualified Deferred Compensation” section on page 70 of this Proxy Statement for more information regarding the DC Plan.

Benefit Plans

Broadridge provides its Named Executive Officers with health and welfare benefits during active employment on the same terms as those offered to other employees.

Perquisites

Broadridge provides the Named Executive Officers with a Company-paid car. car, with the exception of Mr. Liberatore who is provided a monthly car allowance of $375 per month.

In addition, the Broadridge Foundation, a charitable foundation established and funded by the Company, provides up to $10,000 per calendar year in matching of charitable contributions made to qualified tax-exempt organizations on behalf of executive officers, which is a higher amount than the standard associate match. match of $1,500. Mr. Liberatore may receive a match of up to $1,500 of his contributions to qualified tax-exempt organizations, and Mr. Hogan’s maximum is $1,500 starting in calendar year 2014.

These perquisites are consistent with both general industry market practice based on independent third-party executive benefit and perquisite surveys and Broadridge’s executive rewards strategy. The Compensation Committee reviewed these perquisites in fiscal year 20132014 and determined that they are in line with perquisites provided by companies with which Broadridge competes for talent.

Please see the All Other Compensation column of the “SummarySummary Compensation Table”Table on page 60 and the “AllAll Other Compensation Table”Table of this Proxy Statement for more information regarding the perquisites provided to the Named Executive Officers.

Employment Agreements

Broadridge does not have formal employment agreements in place with theany Named Executive Officers as of June 30, 2013.2014.

On June 23, 2014, Mr. Gokey’s offer letter entered into uponYoung joined the Company as its Corporate Vice President and CFO. Mr. Young’s Offer Letter sets forth the terms of his hiringcompensation. The Offer Letter provides that his employment with the Company is “at will,” which means his employment is not for any definite period of time and that either he or the Company can terminate his employment at any time, with or without cause or notice. The Offer Letter provides the following terms:

Base Salary: Mr. Young’s annual base salary is $515,000 per year.

Cash Incentive Award: Mr. Young’s annual cash incentive award target is 85% of his base salary with his participation beginning in fiscal year 2015.

Long-Term Equity Incentive Compensation: Mr. Young will receive performance-based RSUs and stock options annually based on target values that are reviewed and approved by the Compensation Committee. The Compensation Committee has approved the following long-term equity value targets for Mr. Young starting in fiscal year 2015: $525,000 in performance-based RSUs vesting in April 2017, and $525,000 in value of stock options with standard four-year vesting provisions. Each of the foregoing equity grants for fiscal year 2015 shall be subject to the terms and conditions applicable to grants made to all other executive officers of the Company.

Executive Benefits: Mr. Young is eligible to participate in Broadridge’s employee and executive benefit programs, including the Company’s Officer Severance Plan and CIC Plan for Corporate Officers. In addition, Mr. Young is entitled to the perquisites customarily paid to the Company’s executive officers.

Relocation: Mr. Young participated in Broadridge’s executive relocation program, which provides reimbursement of all regular and customary expenses related to his move to the New York area.

In addition, pursuant to the Offer Letter, Mr. Young received the following one-time at-hire awards. These awards were structured to replace similar awards he forfeited when he left his former employer.

Cash Bonus: Mr. Young received a cash bonus of $500,000; $300,000 of which shall be subject to repayment if he voluntarily leaves the Company or is terminated for cause within 12 months of the payment date.

Stock Bonus Award: On June 23, 2014, Mr. Young received a stock bonus award of 5,098 fully vested shares of our common stock. The value of this award was approximately $200,000; the number of shares awarded was determined using a 30-day average closing stock price ending the day before the Compensation Committee approval materials were distributed to the Committee.

RSUs: On August 11, 2014, Mr. Young was awarded 14,634 time-based RSUs that will vest over three years. The value of this award was approximately $600,000; the number of shares awarded was determined using a 30-day average closing stock price ending the day before the Compensation Committee approval materials were distributed to the Committee.

Stock Options: On August 11, 2014, Mr. Young was awarded 26,260 stock options that vested immediately upon grant. These options have a termination date of 10 years from the date of grant and an exercise price equal to the closing price of Broadridge common stock on April 5, 2010 constitutedthe date of grant. The value of this award was approximately $250,000. The number of stock options granted was determined by dividing $250,000 by an employment agreement; however it expiredassumed option value determined using a standard stock option valuation model under FASB ASC Topic 718 and based on April 5, 2013.a 30-day average closing price of Broadridge common stock ending the day before the Compensation Committee approval materials were distributed to the Committee.

Impact of Accounting and Tax Considerations

As a general matter, the Compensation Committee reviews and considers the various tax and accounting implications of the compensation elements utilized by the Company.

With respect to accounting considerations, the Compensation Committee examines the accounting cost associated with equity compensation in light of requirements under FASB ASC Topic 718. Annual equity grants, including performance-based RSU and stock option grants, are made on an expecteda target value basis and then converted into a set number of RSUs and/or stock options, so as to limit the total accounting cost of the grants.

With respect to taxes, the Compensation Committee considers the impact of Section 162(m) of the Code, which generally prohibits any publicly-held corporation from taking a federal income tax deduction for compensation paid in excess of $1 million in any taxable year to the Named Executive Officers other than the CFO, subject to certain exceptions.

The annual incentive awards are intended to comply with Section 162(m) of the Code by selecting financial measures for the funding of suchpayments under the plan only from the list of performance criteria under the stockholder approved Omnibus Plan, and approving specific performance goals and automatic adjustments within the first 90 days of the fiscal year. The annual performance-based RSU grants are intended to comply with Section 162(m) of the Code by making the vesting of all grants subject to performance conditions that are selected from the list of performance criteria under the Omnibus Plan, and approving specific multiple-year performance goals and automatic adjustments within the first 90 days of the performance period. The annual stock option grants are intended to comply with Section 162(m) of the Code by having an exercise price set equal to the fair market value of the Company’s stock on the date of grant.

In general, the Company intends that compensation paid to executive officers should be deductible for U.S. tax purposes. In certain instances, however, we may determine that it is in our best interest and that of our stockholders to have the flexibility to pay compensation that is not deductible under the limitations of Section 162(m) of the Code in order to provide a compensation package consistent with our program and objectives. We have requested and obtained stockholder approval of the Omnibus Plan so that awards under the Plan may qualify as performance-based compensation under Section 162(m) of the Code.

Compensation Committee Report

The Compensation Committee has reviewed and discussed with management the Compensation Discussion and Analysis. Based on such reviews and discussions, the Compensation Committee recommended to the Board of Directors that the Compensation Discussion and Analysis be included in the Company’s 20132014 Proxy Statement and be incorporated by reference in the 20132014 Form 10-K.

Compensation Committee of the Board of Directors

Alan J. Weber,Chair

Sandra S. JaffeeRobert N. Duelks

Stuart R. Levine

Thomas J. Perna

Notwithstanding any SEC filing by the Company that includes or incorporates by reference other SEC filings in their entirety, this Compensation Committee Report shall not be deemed to be “filed” with the SEC except as specifically provided otherwise therein.Maura A. Markus

SUMMARY COMPENSATION TABLE

 

Name and Principal Position

 Year Salary Bonus Stock
Awards
(1)
 Option
Awards
(2)
 Non-Equity
Incentive Plan
Compensation
(3)
 Change in
Pension Value
and
Non-Qualified
Deferred
Compensation
Earnings
(4)
 All Other
Compensation
(5)
 Total  Year Salary Bonus Stock
Awards
(3)
 Option
Awards
(4)
 Non-Equity
Incentive Plan
Compensation
(5)
 Change in
Pension Value
and
Non-Qualified
Deferred
Compensation
Earnings
(6)
 All other
Compensation
(7)
 Total 

Richard J. Daly

  2013   $711,667   $0   $1,176,401   $1,215,244   $1,330,611   $934,053   $49,940   $5,417,916   2014   $785,833   $0   $1,494,057   $1,360,457   $1,738,770   $819,319   $52,095   $6,250,531  

Chief Executive Officer

  2012   $691,667   $0   $946,538   $1,121,584   $1,064,184   $1,523,675   $44,852   $5,392,500  

President and Chief Executive Officer

 2013   $711,667   $0   $1,176,401   $1,215,244   $1,330,611   $934,053   $49,940   $5,417,916  
 2012   $691,667   $0   $946,538   $1,121,584   $1,064,184   $1,523,675   $44,852   $5,392,500  
  2011   $675,000   $0   $2,117,409   $0   $884,150   $1,150,790   $46,515   $4,873,864  

Dan Sheldon

  2013   $471,500   $0   $282,333   $291,657   $411,700   $182,674   $45,839   $1,685,703  

James M. Young (1)

 2014   $12,262   $500,000   $208,559   $0   $0   $0   $86,092   $806,913  

CVP and Chief Financial Officer

  2012   $457,708   $0   $252,404   $299,087   $399,200   $405,301   $43,340   $1,857,040           
 2011   $446,250   $0   $529,336   $0   $261,000   $248,541   $44,097   $1,529,224  

John Hogan

  2013   $540,000   $0   $576,422   $595,471   $908,000   $513,513   $33,200   $3,166,606  

President

  2012   $540,000   $0   $515,339   $610,639   $701,500   $397,928   $32,798   $2,798,204  
  2011   $540,000   $0   $1,164,578   $0   $543,500   $677,238   $32,573   $2,957,889  

Timothy C. Gokey

  2013   $527,917   $0   $423,499   $437,490   $706,800   $139,286   $40,716   $2,275,708   2014   $544,250   $0   $547,798   $498,837   $865,800   $215,444   $40,440   $2,712,569  

SVP and Chief Operating Officer

  2012   $512,500   $0   $273,430   $498,480   $487,200   $134,659   $48,713   $1,954,982   2013   $527,917   $0   $423,499   $437,490   $706,800   $139,286   $40,716   $2,275,708  
 2011   $500,000   $0   $344,076   $526,769   $402,600   $26,690   $353,963   $2,154,098    2012   $512,500   $0   $273,430   $498,480   $487,200   $134,659   $48,713   $1,954,982  

Robert Schifellite

  2013   $428,133   $0   $329,381   $340,268   $571,900   $256,563   $34,731   $1,960,976   2014   $466,799   $0   $348,612   $317,436   $697,337   $404,015   $37,219   $2,271,418  

SVP, Investor

  2012   $413,333  ��$0   $252,404   $299,087   $437,900   $415,779   $30,229   $1,848,732  

Communication Solutions

  2011   $395,700   $0   $529,336   $0   $316,700   $238,970   $30,160   $1,510,866  

SVP, Investor Communication Solutions

 2013   $428,133   $0   $329,381   $340,268   $571,900   $256,563   $34,731   $1,960,976  
 2012   $413,333   $0   $252,404   $299,087   $437,900   $415,779   $30,229   $1,848,732  
        

Lyell Dampeer

 2014   $384,375   $0   $114,541   $467,084   $413,226   $194,101   $47,624   $1,620,951  

CVP, U.S. Investor Communication Solutions

         

Dan Sheldon

 2014   $379,166   $0   $166,447   $0   $343,572   $182,871   $2,174,730   $3,246,786  

Former CVP and Chief Financial Officer

 2013   $471,500   $0   $402,517   $767,915   $411,700   $182,674   $45,839   $2,282,145  
 2012   $457,708   $0   $252,404   $337,294   $399,200   $405,301   $43,340   $1,895,247  

John Hogan

 2014   $525,400   $0   $610,072   $113,366   $940,170   $334,308   $74,416   $2,597,732  

Senior Managing Director Global Technology, Former President

 2013   $540,000   $0   $576,422   $595,471   $908,000   $513,513   $33,200   $3,166,606  
 2012   $540,000   $0   $515,339   $610,639   $701,500   $397,928   $32,798   $2,798,204  
        

Michael Liberatore (2)

 2014   $286,981   $70,000   $94,620   $226,706   $142,973   $0   $42,542   $863,822  

Former Acting Principal Financial Officer

         

 

(1)Mr. Young commenced employment with the Company on June 23, 2014. Amount in the Bonus column reflects an at-hire cash bonus paid upon his joining the Company, and amount in the Stock Awards column reflects an at-hire stock bonus award granted upon his joining the Company.
(2)Amount in the Bonus column reflects a special cash bonus paid for Mr. Liberatore’s service as Acting Principal Financial Officer during fiscal year 2014.
(3)Reflects performance-based RSUs granted by Broadridge under the Omnibus Plan.Plan for all executive officers other than Mr. Young. Amounts in this column represent the aggregate grant date fair value of the RSUs computed in accordance with FASB ASC Topic 718, excluding the effect of estimated forfeitures. See Note 14, “Stock-Based Compensation,” to the Company’s Consolidated Financial Statements for the fiscal year ended June 30, 20132014 included in the 20132014 Form 10-K, for the relevant assumptions used to determine the valuation of these awards. For the performance-based RSUs, the amounts shown reflect the grant date fair value based upon the probable outcome of the performance conditions as of the grant date. The maximum value of the performance-based RSUs granted in fiscal year 20132014 assuming achievement of the highest level of performance is: Mr. Daly: $1,764,601;$2,241,071; Mr. Gokey: $821,682; Mr. Schifellite: $522,919; Mr. Dampeer: $171,797; Mr. Sheldon: $423,499;$249,670; and Mr. Hogan: $864,644;$915,092. Mr. Gokey: $635,249;Liberatore’s award is comprised of 50% performance-based RSUs and 50% time-based RSUs. The maximum value of the performance-based RSUs granted to Mr. Schifellite: $494,082.Liberatore in fiscal year 2014 assuming achievement of the highest level of performance is $70,950.
(2)(4)Reflects stock options granted by Broadridge under the Omnibus Plan. Amounts in this column represent the aggregate grant date fair value of option awards computed in accordance with FASB ASC Topic 718, excluding the effect of estimated forfeitures. Please see Note 14, “Stock-Based Compensation,” to the Company’s Consolidated Financial Statements for the fiscal year ended June 30, 20132014 included in the 20132014 Form 10-K, for the relevant assumptions used to determine the valuation of these awards. The fair value of each option award is estimated on the date of grant using the binomial stock option valuation method.

(3)(5)Represents annual incentive cash compensation paidearned under the Omnibus Plan based on performance of the Named Executive Officers during the corresponding fiscal year, which was paid to the Named Executive Officers in the next following fiscal year. For Mr. Dampeer and Mr. Liberatore, amount includes the portion of the annual incentive compensation elected for deferral under the DC Plan for fiscal year 2014: Mr. Dampeer: $50,000; and Mr. Liberatore: $20,000.
(4)(6)Represents changes in the actuarial present value of the Named Executive Officer’s benefit under the SORP.SORP or SERP. Mr. Liberatore does not participate in either plan. See the “Pension Benefits Table” for a discussion of the SORP.SORP and SERP.
(5)(7)The amounts shown in this column represent the cost of a Company-paid car, amounts paid by the Company on behalf of spouses who accompanied the Named Executive Officers on business travel, relocation expenses, contributions to the 401(k) Plan, Company-paid insurance premiums, and Company-paid matching charitable contributions. Please seeare described in detail in the section below entitled “All Other Compensation” for more information.Compensation.”

ALL OTHER COMPENSATION

 

Name

 Year Perquisites
and other
Personal
Benefits
(1)
 Tax
Reimbursements
(2)
 Company
Contributions
to Defined
Contribution
Plans
(3)
 Insurance
Premiums
(4)
 Matching
Charitable
Contributions
(5)
 Relocation
(6)
 Total  Year Perquisites
and other
Personal
Benefits
(1)
 Tax
Reimbursements
(2)
 Company
Contributions
to Defined
Contribution
Plans
(3)
 Insurance
Premiums
(4)
 Matching
Charitable
Contributions
(5)
 Separation
(6)
 Relocation
(7)
 Total 

Richard J. Daly

 2013   $15,910   $500   $22,000   $1,530   $10,000   $0   $49,940    2014   $16,358   $500   $22,440   $1,547   $11,250   $0   $0   $52,095  
 2012   $14,762   $500   $21,560   $1,530   $6,500   $0   $44,852    2013   $15,910   $500   $22,000   $1,530   $10,000   $0   $0   $49,940  
 2011   $14,650   $500   $21,560   $1,305   $8,500   $0   $46,515    2012   $14,762   $500   $21,560   $1,530   $6,500   $0   $0   $44,852  

James M. Young

  2014   $0   $0   $0   $0   $0   $0   $86,092   $86,092  

Timothy C. Gokey

  2014   $15,358   $500   $13,260   $1,322   $10,000   $0   $0   $40,440  
  2013   $15,910   $500   $13,000   $1,306   $10,000   $0   $0   $40,716  
  2012   $14,762   $9,930   $12,740   $1,281   $10,000   $0   $0   $48,713  

Robert Schifellite

  2014   $6,705   $500   $24,353   $1,161   $4,500   $0   $0   $37,219  
  2013   $7,212   $500   $23,875   $1,144   $2,000   $0   $0   $34,731  
  2012   $2,211   $0   $23,398   $1,120   $3,500   $0   $0   $30,229  

Lyell Dampeer

  2014   $16,358   $500   $17,959   $1,057   $11,750   $0   $0   $47,624  

Dan Sheldon

 2013   $11,750   $0   $23,875   $1,214   $9,000   $0   $45,839    2014   $49,288   $0   $24,353   $1,022   $12,100   $2,087,967   $0   $2,174,730  
 2012   $11,750   $0   $23,398   $1,192   $7,000   $0   $43,340    2013   $11,750   $0   $23,875   $1,214   $9,000   $0   $0   $45,839  
 2011   $11,750   $0   $23,398   $949   $8,000   $0   $44,097    2012   $11,750   $0   $23,398   $1,192   $7,000   $0   $0   $43,340  

John Hogan

 2013   $11,750   $0   $20,125   $1,325   $0   $0   $33,200    2014   $11,750   $0   $21,324   $1,342   $40,000 (8)  $0   $0   $74,416  
 2012   $11,750   $0   $19,723   $1,325   $0   $0   $32,798    2013   $11,750   $0   $20,125   $1,325   $0   $0   $0   $33,200  
 2011   $11,750   $0   $19,723   $1,100   $0   $0   $32,573    2012   $11,750   $0   $19,723   $1,325   $0   $0   $0   $32,798  

Timothy C. Gokey

 2013   $15,910   $500   $13,000   $1,306   $10,000   $0   $40,716  
 2012   $14,762   $9,930   $12,740   $1,281   $10,000   $0   $48,713  
 2011   $5,250   $108,507   $6,500   $1,035   $10,000   $222,671   $353,963  

Robert Schifellite

 2013   $7,212   $500   $23,875   $1,144   $2,000   $0   $34,731  
 2012   $2,211   $0   $23,398   $1,120   $3,500   $0   $30,229  
 2011   $5,396   $500   $23,398   $866   $0   $0   $30,160  

Michael Liberatore

  2014   $13,016   $500   $26,703   $823   $1,500   $0   $0   $42,542  

 

(1)For all Named Executive Officers other than Mr. Liberatore, represents actual cost to the valueCompany of leasing automobiles used for personal travel. For Mr. Liberatore, represents a Company-paid car.car allowance paid by the Company. For Mr. Daly (fiscal years 2011, 2012, 2013 and 2013)2014), Mr. Gokey (fiscal years 2011, 2012, 2013 and 2013) and2014), Mr. Schifellite (fiscal years 20112013 and 2013)2014), Mr. Dampeer (fiscal years 2013 and 2014), and Mr. Liberatore (fiscal year 2014), this also includes an amount paid by the Company on behalf of their spouses or significant others who accompanied them on business travel. For Mr. Sheldon, the fiscal year 2014 amount includes a payment for accrued vacation time in the amount of $37,538 made in connection with his separation from the Company.
(2)For Mr. Daly, (fiscal years 2011, 2012 and 2013), Mr. Gokey, (fiscal years 2011, 2012 and 2013)Mr. Schifellite, Mr. Dampeer and Mr. Schifellite (fiscal years 2011 and 2013), thisLiberatore, represents a reimbursement of the taxes on amounts paid by the Company on behalf of their spouses or significant others who accompanied them on business travel.travel sponsored by the Company. For Mr. Gokey, inthe fiscal years 2011 andyear 2012 this amount also includes reimbursement of the taxes on certain relocation expenses incurred in fiscal yearsyear 2011 and 2012, as provided under the Company’s executive relocation program (see footnote 6 below).program.
(3)Represents contributions made by the Company to the 401(k) Plan on behalf of the executives. For Mr. Liberatore, also includes a Company match in the DC Plan. Mr. Liberatore elected to defer $20,000 of his fiscal year 2014 MBO Bonus into the Company’s DC Plan. As a non-officer executive, Mr. Liberatore is eligible to receive a Company match of 50% of his deferral election up to a maximum of $10,000 per year.
(4)Represents life insurance, accidental death and dismemberment and long-term disability premiums paid by the Company on behalf of the executives.
(5)

Represents Company-paid contributions made to qualified tax-exempt organizations on behalf of the Named Executive Officers under the Broadridge Director & Officer Matching Gift Program. The Company matches 100% of all contributions made by its executive officers to qualified tax-exempt organizations, up to a maximum Company

contribution of $10,000 per calendar year.year, and up to $1,500 per calendar year for non-officer executives. Amounts shown reflect total Company matching contributions in each fiscal year.year, and therefore may be greater than the calendar year maximum.
(6)RepresentsReflects the incremental fair value with respect to the modification of outstanding awards of options and RSUs in connection with the separation agreement with Mr. Sheldon dated February 5, 2014, and does not represent new equity awards. Incremental fair value is computed as of the date of the modification in accordance with FASB ASC Topic 718 and includes the full fair value of the portion of the modified awards that otherwise would not have vested in accordance with their original terms.
(7)For Mr. Young, includes reimbursement of certain relocation expenses paid on behalf of Mr. Gokeyincurred in fiscal year 2011, including a portion of2014 under the personal loss onCompany’s executive relocation program for expenses including: house-hunting trips to the sale ofNew York region for Mr. Young and his home in the Kansas City, Missouri area, closing costs,family, movement of physical goods, attorney’s feestemporary housing, and home visits to Missouri prior to histhe final move to the New York region.

(8)Includes charitable contributions made in prior fiscal years that were matched by the Company in fiscal year 2014.

GRANTS OF PLAN-BASED AWARDS TABLE

The following table summarizes awards made to our Named Executive Officers in fiscal year 2013.2014. Please see the “Outstanding Equity Awards at Fiscal Year-End Table” for the outstanding stock option awards and unvested stock awards held by each of the Named Executive Officers as of June 30, 2013.2014.

 

      Estimated Future Payouts Under
Non-Equity Incentive
Plan Awards (1)
 Estimated Future Payouts
Under Equity Incentive
Plan Awards (2)
 All Other
Option
Awards:
Number of
Securities
Underlying
Options(#)
  Exercise
or Base
Price of
Option
Awards
($/Sh)
  Grant Date
Fair Value of
Stock and
Option
Awards ($) (3)
      Estimated Future Payouts Under
Non-Equity Incentive
Plan Awards (1)
 Estimated Future Payouts
Under Equity Incentive
Plan Awards (2)
 All Other
Stock
Awards:
Number of
Shares of
Stock or
Units(#)
  All Other
Option
Awards:
Number of
Securities
Underlying
Options(#)
  Exercise
or Base
Price of
Option
Awards
($/Sh)
  Grant Date
Fair Value of
Stock and
Option
Awards
($) (3)
 
 Committee
Award
Date
  Threshold
($)
  Target
($)
  Maximum
($)
  Threshold
(#)
  Target
(#)
  Maximum
(#)
   Grant
Date
  Committee
Award
Date
  Threshold
($)
  Target
($)
  Maximum
($)
  Threshold
(#)
  Target
(#)
  Maximum
(#)
  

Name

 Grant
Date
 All Other
Option
Awards:
Number of
Securities
Underlying
Options(#)
  All Other
Stock
Awards:
Number of
Shares of
Stock or
Units(#)
All Other
Option
Awards:
Number of
Securities
Underlying
Options(#)
 

Richard J. Daly

   $0   $1,179,750   $2,359,500         $660,000   $1,320,000   $2,640,000      
 10/1/2012 (4)  9/14/2012      27,667   55,334   83,001   $1,176,401  
 2/11/2013 (5)  2/4/2013         321,493   22.27   $1,215,244  
  10/1/2013 (4)   9/19/2013       24,712    49,423    74,135      $1,494,057  

Dan Sheldon

   $0   $355,350   $710,700        
 10/1/2012 (4)  9/14/2012      6,640   13,280   19,920     $282,333  
 2/11/2013 (5)  2/4/2013         77,158   22.27   $291,657  
  2/10/2014 (5)   2/5/2014           166,112    36.97   $1,360,457  

John Hogan

   $0   $810,000   $1,620,000        
 10/1/2012 (4)  9/14/2012      13,557   27,113   40,670     $576,422  
 2/11/2013 (5)  2/4/2013         157,532   22.27   $595,471  

James M. Young

  6/23/2014 (6)   6/12/2014          5,098     $208,559  

Timothy C. Gokey

   $0   $610,075   $1,220,150           $355,550   $711,100   $1,422,200         
 10/1/2012 (4)  9/14/2012      9,960   19,920   29,880     $423,499  
 2/11/2013 (5)  2/4/2013         115,738   22.27   $437,490  
  10/1/2013 (4)   9/19/2013       9,061    18,121    27,182      $547,798  
  2/10/2014 (5)   2/5/2014           60,908    36.97   $498,837  

Robert Schifellite

   $0   $473,616   $947,232           $260,726   $521,452   $1,042,904         
 10/1/2012 (4)  9/14/2012      7,747   15,493   23,240     $329,381    10/1/2013 (4)   9/19/2013       5,766    11,532    17,298      $348,612  
 2/11/2013 (5)  2/4/2013         90,018   22.27   $340,268    2/10/2014 (5)   2/5/2014           38,759    36.97   $317,436  

Lyell Dampeer

   $154,500   $309,000   $618,000         
  10/1/2013 (4)   9/19/2013       1,895    3,789    5,684      $114,541  
  2/10/2014 (5)   2/5/2014           12,735    36.97   $104,300  
  2/10/2014 (7)   2/5/2014           44,296    36.97   $362,784  

Dan Sheldon

   $146,400   $292,800   $585,600         
  10/1/2013 (4)   9/19/2013       2,471    4,942    7,413      $166,447  

John Hogan

   $383,500   $767,000   $1,534,000         
  10/1/2013 (4)   9/19/2013       10,091    20,181    30,272      $610,072  
  2/10/2014 (5)   2/5/2014           13,842    36.97   $113,366  

Michael Liberatore

   $55,634   $111,269   $222,534         
  10/1/2013 (4)   9/19/2013       783    1,565    2,348      $47,310  
  10/1/2013 (8)   9/19/2013          1,565     $47,310  
  2/10/2014 (5)   2/5/2014           5,537    36.97   $45,348  
  2/10/2014 (9)   2/5/2014           20,703    36.97   $181,358  

 

(1)Amounts consist of the threshold, target and maximum annual cash incentive award levels setlevels. Amounts in fiscal year 2013 under the Omnibus Plan.threshold awards column represent 50% of the target award which is the minimum performance level required for a payout of the award. Actual amounts paid to the Named Executive Officers are reported in the “Non-Equity Incentive Plan Compensation” column of the Summary Compensation Table with respect to fiscal year 2013. Amounts in2014. Mr. Sheldon’s target was prorated to reflect the threshold column assume the failureportion of the fiscal year he was employed prior to his separation from the Company. Mr. Young joined the Company to achieveat the net earnings threshold amount required to fundend of the officerfiscal year and is not eligible for a cash incentive plan.award until fiscal year 2015.
(2)Amounts consist of the threshold, target and maximum performance-based RSU awards set in fiscal year 20132014 under the Omnibus Plan. Amounts in the threshold awards column represent 50% of the target award which is the minimum performance level required for thea payout of the award.
(3)These amounts are valued based on the aggregate grant date fair value of the award determined pursuant to FASB ASC Topic 718, and based on the probable outcome of the performance condition in the case of performance-based RSUs. See Note 14, “Stock-Based Compensation,” to the Consolidated Financial Statements included in the 20132014 Form 10-K, for a discussion of the relevant assumptions used in calculating these amounts.

(4)Represents performance-based RSUs granted under the Omnibus Plan. RSU awards granted by Broadridge on October 1, 20122013 that will vest and convert to Broadridge shares on April 1, 2015,2016, provided that pre-set financial performance goals are met over the fiscal years 20132014 and 20142015 performance cycle. Named Executive Officers can earn from 0% to 150% of their stated RSU award amount in shares. Please see the section entitled “Fiscal Year 2013 Performance-Based RSU Target Awards” for more information on these awards.
(5)Represents thea stock option awardsaward granted under the Omnibus Plan on February 11, 201310, 2014, that will vest ratably over the next four years on the anniversary of the date of grant.
(6)Represents an at-hire stock bonus award of fully vested Broadridge shares granted under the Omnibus Plan on June 23, 2014.
(7)Represents a special stock option award granted under the Omnibus Plan on February 10, 2014, that will vest ratably over the next four years on the anniversary of the date of grant.
(8)Represents time-based RSUs granted under the Omnibus Plan on October 1, 2013, that will vest and convert to Broadridge shares on April 1, 2016.
(9)Represents a special stock option award granted under the Omnibus Plan on February 10, 2014, that will vest on the fourth anniversary of the date of grant.

OUTSTANDING EQUITY AWARDS AT FISCAL YEAR-END TABLE

The following table provides information regarding outstanding stock option awards and unvested stock awards held by each of the Named Executive Officers as of June 30, 2013.2014.

 

 Option Awards Stock Awards (1)    Option Awards Stock Awards (1) 
 Number of
Securities
Underlying
Unexercised
Options
Exercisable
(#)
 Number of
Securities
Underlying
Unexercised
Options
Unexercisable
(#)
 Option
Exercise
Price
($)
 Option
Expiration
Date
 Number
of Shares
of Stock
that
Have
Not
Vested
(#)
 Market
Value of
Shares of
Stock that
Have Not
Vested ($)
 Equity
Incentive Plan
Awards:
Number of
Unearned
Shares, Units
or Other
Rights that
Have Not
Vested
 Equity
Incentive Plan
Awards:
Market or
Payout Value
of Unearned
Shares, Units
or Other
Rights that
Have Not
Vested
  Number of
Securities
Underlying
Unexercised
Options
Exercisable
(#)
 Number of
Securities
Underlying
Unexercised
Options
Unexercisable
(#)
 Option
Exercise
Price
($)
 Option
Expiration Date
 Number
of Shares
of Stock
that
Have
Not
Vested
(#)
 Market
Value of
Shares of
Stock that
Have Not
Vested ($)
 Equity
Incentive Plan
Awards:
Number of
Unearned
Shares, Units
or Other
Rights that
Have Not
Vested
 Equity
Incentive Plan
Awards:
Market or
Payout Value
of Unearned
Shares, Units
or Other
Rights that
Have Not
Vested
 

Richard J. Daly

 49,138   0   $17.60   1/26/2015   (2       114,600   0   $21.87   2/3/2018   (2      
 49,138   0   $18.18   1/26/2016   (2       28,466   0   $18.97   2/24/2018   (3      
 49,138   0   $19.19   1/25/2017   (2       28,467   0   $20.87   2/24/2018   (3      
 76,300   0   $19.93   6/1/2017   (3       28,467   0   $22.76   2/24/2018   (3      
 114,600   0   $21.87   2/3/2018   (4       171,533   0   $18.97   2/24/2018   (4      
 28,466   0   $18.97   2/24/2018   (5       171,533   0   $20.87   2/24/2018   (4      
 28,467   0   $20.87   2/24/2018   (5       171,534   0   $22.76   2/24/2018   (4      
 28,467   0   $22.76   2/24/2018   (5       126,500   0   $21.39   2/8/2020   (5      
 171,533   0   $18.97   2/24/2018   (6       126,500   0   $23.53   2/8/2020   (5      
 171,533   0   $20.87   2/24/2018   (6       126,500   0   $25.67   2/8/2020   (5      
 171,534   0   $22.76   2/24/2018   (6       111,934   111,935   $24.25   2/9/2022   (6      
 126,500   0   $13.79   2/2/2019   (7       80,373   241,120   $22.27   2/11/2023   (7      
 126,500   0   $15.17   2/2/2019   (7       0   166,112   $36.97   2/10/2024   (8      
 126,500   0   $16.55   2/2/2019   (7            83,001   $3,456,162   (23   
 126,500   0   $21.39   2/8/2020   (8               49,423   $2,057,974   (25
 126,500   0   $23.53   2/8/2020   (8      

James M. Young

 0   0   $0.00     0   $0    0   $0   

Timothy C. Gokey

 100,000   0   $21.94   5/12/2020   (9      
 126,500   0   $25.67   2/8/2020   (8       120,000   30,000   $21.94   5/12/2020   (10      
 55,967   167,902   $24.25   2/9/2022   (9       52,414   34,944   $22.39   2/10/2021   (11      
 0   321,493   $22.27   2/11/2023   (10       49,748   49,749   $24.25   2/9/2022   (6      
      53,750   $1,428,675   (14    28,934   86,804   $22.27   2/11/2023   (7      
         55,334   $1,470,778   (15 0   60,908   $36.97   2/10/2024   (8      
      29,880   $1,244,203   (23   

Dan Sheldon

 24,569   0   $17.60   1/26/2015   (2      
         18,121   $754,558   (25

Robert Schifellite

 24,569   0   $18.18   1/26/2016   (12      
 29,482   0   $18.18   1/26/2016   (2       24,569   0   $19.19   1/25/2017   (12      
 29,482   0   $19.19   1/25/2017   (2       18,100   0   $21.87   2/3/2018   (2      
 10,100   0   $19.93   6/1/2017   (3       41,666   0   $18.97   2/24/2018   (3      
 36,200   0   $21.87   2/3/2018   (4       41,667   0   $20.87   2/24/2018   (3      
 54,600   0   $18.97   2/24/2018   (5       41,667   0   $22.76   2/24/2018   (3      
 54,600   0   $20.87   2/24/2018   (5       24,916   0   $13.79   2/2/2019   (13      
 54,600   0   $22.76   2/24/2018   (5       24,917   0   $15.17   2/2/2019   (13      
 2,066   0   $18.97   2/24/2018   (6       24,917   0   $16.55   2/2/2019   (13      
 2,067   0   $20.87   2/24/2018   (6       25,875   0   $21.39   2/8/2020   (5      
 2,067   0   $22.76   2/24/2018   (6       25,875   0   $23.53   2/8/2020   (5      
 28,750   0   $13.79   2/2/2019   (7       25,875   0   $25.67   2/8/2020   (5      
 28,750   0   $15.17   2/2/2019   (7       29,849   29,849   $24.25   2/9/2022   (6      
 28,750   0   $16.55   2/2/2019   (7       22,504   67,514   $22.27   2/11/2023   (7      
 27,791   0   $21.39   2/8/2020   (8       0   38,759   $36.97   2/10/2024   (8      
 27,792   0   $23.53   2/8/2020   (8            23,239   $967,672   (23   
 27,792   0   $25.67   2/8/2020   (8               11,532   $480,192   (25
 14,924   44,774   $24.25   2/9/2022   (9      
 0   77,158   $22.27   2/11/2023   (10      
      14,333   $380,971   (14   
         13,280   $352,982   (15

  Option Awards  Stock Awards (1)    
  Number of
Securities
Underlying
Unexercised
Options
Exercisable
(#)
  Number of
Securities
Underlying
Unexercised
Options
Unexercisable
(#)
  Option
Exercise
Price
($)
  Option
Expiration
Date
  Number
of Shares
of Stock
that
Have
Not
Vested
(#)
  Market
Value of
Shares of
Stock that
Have Not
Vested ($)
  Equity
Incentive Plan
Awards:
Number of
Unearned
Shares, Units
or Other
Rights that
Have Not
Vested
  Equity
Incentive Plan
Awards:
Market or
Payout Value
of Unearned
Shares, Units
or Other
Rights that
Have Not
Vested
 

John Hogan

  44,224    0   $15.97    11/10/2013    (2      
  49,138    0   $17.60    1/26/2015    (2      
  49,138    0   $18.18    1/26/2016    (2      
  49,138    0   $19.19    1/25/2017    (2      
  30,100    0   $19.93    6/1/2017    (3      
  72,400    0   $21.87    2/3/2018    (4      
  42,533    0   $18.97    2/24/2018    (5      
  42,533    0   $20.87    2/24/2018    (5      
  42,534    0   $22.76    2/24/2018    (5      
  77,467    0   $18.97    2/24/2018    (6      
  77,467    0   $20.87    2/24/2018    (6      
  77,466    0   $22.76    2/24/2018    (6      
  65,166    0   $13.79    2/2/2019    (7      
  65,167    0   $15.17    2/2/2019    (7      
  65,167    0   $16.55    2/2/2019    (7      
  65,166    0   $21.39    2/8/2020    (8      
  65,167    0   $23.53    2/8/2020    (8      
  65,167    0   $25.67    2/8/2020    (8      
  30,471    91,413   $24.25    2/9/2022    (9      
  0    157,532   $22.27    2/11/2023    (10      
       29,264   $777,837    (14   
          27,113   $720,664    (15

Timothy C. Gokey

  100,000    0   $21.94    5/12/2020    (11      
  90,000    60,000   $21.94    5/12/2020    (12      
  34,943    52,415   $22.39    2/10/2021    (13      
  24,874    74,623   $24.25    2/9/2022    (9      
  0    115,738   $22.27    2/11/2023    (10      
       15,527   $412,708    (14   
          19,920   $529,474    (15

Robert Schifellite

  24,569    0   $17.60    1/26/2015    (2      
  24,569    0   $18.18    1/26/2016    (2      
  24,569    0   $19.19    1/25/2017    (2      
  18,100    0   $21.87    2/3/2018    (4      
  41,666    0   $18.97    2/24/2018    (5      
  41,667    0   $20.87    2/24/2018    (5      
  41,667    0   $22.76    2/24/2018    (5      
  24,916    0   $13.79    2/2/2019    (7      
  24,917    0   $15.17    2/2/2019    (7      
  24,917    0   $16.55    2/2/2019    (7      
  25,875    0   $21.39    2/8/2020    (8      
  25,875    0   $23.53    2/8/2020    (8      
  25,875    0   $25.67    2/8/2020    (8      
  14,924    44,774   $24.25    2/9/2022    (9      
  0    90,018   $22.27    2/11/2023    (10      
       14,333   $380,971    (14   
          15,493   $411,804    (15
  Option Awards  Stock Awards (1) 
  Number of
Securities
Underlying
Unexercised
Options
Exercisable
(#)
  Number of
Securities
Underlying
Unexercised
Options
Unexercisable
(#)
  Option
Exercise
Price
($)
  Option
Expiration Date
  Number
of Shares
of Stock
that
Have
Not
Vested
(#)
  Market
Value of
Shares of
Stock that
Have Not
Vested ($)
  Equity
Incentive Plan
Awards:
Number of
Unearned
Shares, Units
or Other
Rights that
Have Not
Vested
  Equity
Incentive Plan
Awards:
Market or
Payout Value
of Unearned
Shares, Units
or Other
Rights that
Have Not
Vested
 

Lyell Dampeer

  1,376    0   $19.19    1/25/2017    (12      
  5,600    0   $21.87    2/3/2018    (2      
  2,920    0   $13.79    2/2/2019    (13      
  8,560    2,140   $21.39    2/8/2020    (5      
  6,813    4,543   $22.39    2/10/2021    (11      
  6,467    6,468   $24.25    2/9/2022    (6      
  7,394    22,183   $22.27    2/11/2023    (7      
  0    44,296   $36.97    2/10/2024    (27      
  0    12,735   $36.97    2/10/2024    (8      
       7,635   $317,921    (23   
          3,789   $157,774    (25

Dan Sheldon

  24,569    0   $17.60    1/26/2015    (12      
  29,482    0   $18.18    1/26/2016    (12      
  29,482    0   $19.19    1/25/2017    (12      
  10,100    0   $19.93    4/11/2017    (14      
  36,200    0   $21.87    4/11/2017    (15      
  54,600    0   $18.97    4/11/2017    (16      
  54,600    0   $20.87    4/11/2017    (16      
  54,600    0   $22.76    4/11/2017    (16      
  2,066    0   $18.97    4/11/2017    (17      
  2,067    0   $20.87    4/11/2017    (17      
  2,067    0   $22.76    4/11/2017    (17      
  28,750    0   $13.79    4/11/2017    (18      
  28,750    0   $15.17    4/11/2017    (18      
  28,750    0   $16.55    4/11/2017    (18      
  27,791    0   $21.39    4/11/2017    (19      
  27,792    0   $23.53    4/11/2017    (19      
  27,792    0   $25.67    4/11/2017    (19      
  29,849    29,849   $24.25    4/11/2017    (20      
  19,289    57,869   $22.27    4/11/2017    (21      
       17,430   $725,785    (23   
          4,942   $205,785    (25

John Hogan

  65,166    0   $13.79    2/2/2019    (13      
  65,167    0   $15.17    2/2/2019    (13      
  65,167    0   $16.55    2/2/2019    (13      
  65,166    0   $21.39    2/8/2020    (5      
  65,167    0   $23.53    2/8/2020    (5      
  65,167    0   $25.67    2/8/2020    (5      
  60,942    60,942   $24.25    2/9/2022    (6      
  39,383    118,149   $22.27    2/11/2023    (7      
  0    13,842   $36.97    2/10/2024    (8      
       40,669   $1,693,457    (23   
          20,181   $840,337    (25

  Option Awards  Stock Awards (1) 
  Number of
Securities
Underlying
Unexercised
Options
Exercisable
(#)
  Number of
Securities
Underlying
Unexercised
Options
Unexercisable
(#)
  Option
Exercise
Price
($)
  Option
Expiration Date
  Number
of Shares
of Stock
that
Have
Not
Vested
(#)
  Market
Value of
Shares of
Stock that
Have Not
Vested ($)
  Equity
Incentive Plan
Awards:
Number of
Unearned
Shares, Units
or Other
Rights that
Have Not
Vested
  Equity
Incentive Plan
Awards:
Market or
Payout Value
of Unearned
Shares, Units
or Other
Rights that
Have Not
Vested
 

Michael Liberatore

  3,685    0   $18.18    1/26/2016    (12      
  0    5,537   $36.97    2/10/2024    (8      
  0    20,703   $36.97    2/10/2024    (22      
       2,988   $124,420    (23   
       1,992   $82,947    (24  1,565   $65,167    (25
          1,565   $65,167    (26

 

(1)All stock awards were valued on June 30, 2013 based on a June 28, 2013 Common Stock30, 2014 common stock closing price of $26.58$41.64 per share.
(2)Represents stock option grants that were made by ADP and were converted to Broadridge stock option grantsoptions granted on the March 2007 spin-off date. These grants terminateFebruary 4, 2008. This grant terminates 10 years from the date of grant, vest 20% per year over five years, and have their first vestingstarting on the secondfirst anniversary of the date of grant.
(3)Represents stock option grants that were made by Broadridge on June 1, 2007. These grants terminate 10 years from the date of grant, vest 20% per year over five years, and have their first vesting on the first anniversary of the date of grant.
(4)Represents stock option grants that were made by Broadridge on February 4, 2008. These grants terminate 10 years from the date of grant, vest 20% per year over five years, and have their first vesting on the first anniversary of the date of grant.
(5)Represents special stock option grants that were made by Broadridgeoptions granted on February 25, 2008. These grants terminateThis grant terminates 10 years from the date of grant, and vested 100%in full four months after the grant date.
(6)(4)Represents special stock option grants that were made by Broadridgeoptions granted on April 29, 2008. These options were granted subject to stockholder approval of the amendment and restatement of the Omnibus Plan. Broadridge stockholders approved the amendment and restatement of the Omnibus Plan on November 13, 2008, and these options vested 100%in full on that date. These grants terminateThis grant terminates on February 24, 2018.
(7)(5)Represents special stock option grants that were made by Broadridgeoptions granted on February 2, 2009. These grants terminate8, 2010. This grant terminates 10 years from the date of grant, and vestvests 33.3% per year over three years, starting on the first anniversary of the date of grant.
(6)Represents annual stock options granted on February 9, 2012. This grant terminates 10 years from the date of grant, and have theirvests 25% per year over four years, starting on the first vestinganniversary of the date of grant.
(7)Represents annual stock options granted on February 11, 2013. This grant terminates 10 years from the date of grant, and vests 25% per year over four years, starting on the first anniversary of the date of grant.
(8)Represents specialannual stock option grants that were made by Broadridgeoptions granted on February 8, 2010. These grants terminate10, 2014. This grant terminates 10 years from the date of grant, and vest 33.3%vests 25% per year over threefour years, and have their first vestingstarting on the first anniversary of the date of grant.
(9)Represents annualat-hire stock option grants that were made by Broadridge on February 9, 2012. These grants terminate 10 years from the date of grant, and vest 25% per year over four years, and has its first vesting on the first anniversary of the date of grant.
(10)Represents annual stock option grants that were made by Broadridge on February 11, 2013. These grants terminate 10 years from the date of grant, and vest 25% per year over four years, and has its first vesting on the first anniversary of the date of grant.
(11)Represents an at hire stock option grant that was made by Broadridgeoptions granted on May 12, 2010. This grant terminates 10 years from the date of grant, and vests 50% per year over two years, and has its first vestingstarting on the first anniversary of the date of grant.
(12)(10)Represents an at hireat-hire stock option grant that was made by Broadridgeoptions granted on May 12, 2010. This grant terminates 10 years from the date of grant, and vests 20% per year over five years, and has its first vestingstarting on the first anniversary of the date of grant.
(13)(11)Represents aannual stock option grant made by Broadridgeoptions granted on February 10, 2011. This grant terminates 10 years from date of grant, and vests 20% per year over five years, starting on the first anniversary of the date of grant.
(12)Represents stock options granted by ADP that were converted to Broadridge stock options on the March 2007 spin-off date. This grant terminates 10 years from the date of grant, and has its first vestingvests 20% per year over five years, starting on the second anniversary of the date of grant.
(13)Represents special stock options granted on February 2, 2009. This grant terminates 10 years from the date of grant, and vests 33.3% per year over three years, starting on the first anniversary of the date of grant.
(14)Represents stock options granted on June 1, 2007, vesting 20% per year over five years starting on the first anniversary of the date of grant. In connection with Mr. Sheldon’s separation agreement, these grants terminate on April 11, 2017.
(15)Represents special stock options granted on February 4, 2008, vesting 20% per year over five years starting on the first anniversary of the date of grant. In connection with Mr. Sheldon’s separation agreement, these options terminate on April 11, 2017.
(16)Represents special stock options granted on February 25, 2008, vesting in full four months after the grant date. In connection with Mr. Sheldon’s separation agreement, these options terminate on April 11, 2017.
(17)Represents special stock options granted on April 29, 2008. These options were granted subject to stockholder approval of the amendment and restatement of the Omnibus Plan. Broadridge stockholders approved the amendment and restatement of the Omnibus Plan on November 13, 2008, and these options vested in full on that date. In connection with Mr. Sheldon’s separation agreement, these options terminate on April 11, 2017.
(18)Represents special stock options granted on February 2, 2009, vesting 33.3% per year over three years starting on the first anniversary of the date of grant. In connection with Mr. Sheldon’s separation agreement, these options terminate on April 11, 2017.
(19)Represents special stock options granted on February 8, 2010, vesting 33.3% per year over three years starting on first anniversary of the date of grant. In connection with Mr. Sheldon’s separation agreement, these options terminate on April 11, 2017.
(20)Represents annual stock options granted on February 9, 2012, vesting 25% per year over four years starting on the first anniversary of the date of grant. In connection with Mr. Sheldon’s separation agreement, these options terminate on April 11, 2017.
(21)Represents annual stock options granted on February 11, 2013, vesting 25% per year over four years starting on the first anniversary of the date of grant. In connection with Mr. Sheldon’s separation agreement, these options terminate on April 11, 2017.

(22)Represents special stock options granted on February 10, 2014. This grant terminates 10 years from the date of grant, and vests on the fourth anniversary of the date of grant.
(23)Represents performance-based RSUs awarded by Broadridge on October 1, 2011 under the Omnibus Plan.2012. Based on achievement against pre-set financial performance goals over the fiscal years 20122013 and 20132014 performance cycle, 100%150% of target shares were earned. Please seePursuant to his separation agreement, Mr. Sheldon’s award was prorated to reflect the section “Completionportion of Fiscal Years 2012 and 2013 Performance-Based RSU Cycle” in the Compensation Discussion and Analysis section for more details.performance period he was employed prior to his separation from the Company. These RSU awards will vest and convert to Broadridge shares on April 1, 2014.2015.
(15)(24)Represents performance-basedannual time-based RSUs awarded by Broadridge on October 1, 2012 under the Omnibus Plan.2012. These RSU awards will vest and convert to Broadridge shares on April 1, 2015,2015.
(25)Represents annual performance-based RSUs awarded on October 1, 2013. Pursuant to his separation agreement, Mr. Sheldon’s award was prorated to reflect the portion of the performance period he was employed prior to his separation from the Company. These RSU awards will vest and convert to Broadridge shares on April 1, 2016, provided that pre-set financial performance goals are met over the fiscal years 20132014 and 20142015 performance cycle. The Named Executive Officers can earn from 0% to 150% of their stated RSU award amount in shares.

(26)Represents annual time-based RSUs awarded on October 1, 2013. These RSU awards will vest and convert to Broadridge shares on April 1, 2016.
(27)Represents special stock options granted on February 10, 2014. This grant terminates 10 years from the date of grant, and vests 25% per year over four years, starting on the first anniversary of the date of grant.

OPTION EXERCISES AND STOCK VESTED TABLE

The following table provides information regarding the number of Broadridge stock options that were exercised by Named Executive Officers and the number of RSU awards that vested during fiscal year 2013,2014, and the value realized from the exercise or vesting of such awards.

 

  Stock Options (1)   Restricted Stock Units (2)   Stock Options (1)   Stock Awards and Restricted Stock (2) 

Name

  Number of Shares
Acquired
on Exercise
(#)
   Value Realized
on Exercise
($)
   Number of Shares
Acquired on
Vesting
(#)
   Value
Realized
on Vesting
($)
   Number of Shares
Acquired
on Exercise
(#)
   Value Realized
on Exercise
($)
   Number of Shares
Acquired on
Vesting
(#)
   Value
Realized
on Vesting
($)
 

Richard J. Daly

   125,301    $997,758     68,492    $1,673,260     603,214    $13,863,860     53,750    $2,037,125  

James M. Young

   0    $0     5,098    $208,559  

Timothy C. Gokey

   0    $0     15,527    $588,473  

Robert Schifellite

   24,569    $596,204     14,333    $543,221  

Lyell Dampeer

   0    $0     6,306    $238,997  

Dan Sheldon

   108,738    $972,277     17,122    $418,290     0    $0     14,333    $543,221  

John Hogan

   44,224    $302,926     37,671    $920,303     654,138    $11,111,059     29,264    $1,109,106  

Timothy C. Gokey

   0    $0     11,130    $271,906  

Robert Schifellite

   43,732    $391,944     17,122    $418,290  

Michael Liberatore

   2,284    $48,741     3,822    $144,854  

 

(1)The shares shown acquired on exercise represent shares of Common Stock.our common stock. The value realized upon the exercise of stock options equals the difference between the closing price of Common Stockthe common stock on the date of exercise and the exercise price of the stock options.
(2)The shares acquired and the value realized on vesting reflects the vesting of RSUs for all executives other than Mr. Young. Upon the vesting of RSUs, each RSUunit converts to a share of the Common Stockcommon stock and the value realized upon the vesting equals the number of RSUs multiplied by the closing price value of the Common Stockcommon stock on the date of vesting. Mr. Young received a stock bonus award of 5,098 fully vested shares of common stock upon joining the Company.

PENSION BENEFITS TABLE

The following table sets forth for each Named Executive Officer certain information with respect to the Broadridge SORP and SERP which provides for pension benefits in connection with retirement. Mr. Young and Mr. Liberatore are not eligible to participate in either plan.

 

Name

  Plan Name   Number of
Years of
Credited
Service (1)
(#)
   Present
Value of
Accumulated
Benefit (2)
($)
   Payments
During
Last
Fiscal
Year
($)
   Plan Name  Number of
Years of
Credited
Service (1)
(#)
  Present
Value of
Accumulated
Benefit (2)
($)
   Payments
During
Last
Fiscal
Year
($)
 

Richard J. Daly

   Broadridge SORP     19.0    $5,209,327     —     Broadridge SORP  20.0  $6,050,172     —   

James M. Young

  —    —     —       —   

Timothy C. Gokey

  Broadridge SORP    3.0  $523,756     —   

Robert Schifellite

  Broadridge SORP  13.0  $1,777,790     —   

Lyell Dampeer

  Broadridge SERP    5.0  $595,282     —   

Dan Sheldon

   Broadridge SORP     9.0    $1,406,023     —     Broadridge SORP  10.0  $1,587,956     —   

John Hogan

   Broadridge SORP     18.0    $3,272,368     —     Broadridge SORP  19.0  $3,603,881     —   

Timothy C. Gokey

   Broadridge SORP     2.0    $308,650     —   

Robert Schifellite

   Broadridge SORP     12.0    $1,368,704     —   

Michael Liberatore

  —    —     —       —   

 

(1)Broadridge SORP-creditedSORP- and SERP-credited service is defined as complete calendar years. Years of service recognized under the Broadridge SORP for Mr. Daly, Mr. Sheldon, Mr. Hogan and Mr. Schifellite differ from their actual service with the Company, because they were credited with their service under ADP’s SORP (as described in more detail below). For actuarial valuation purposes, credited service is attributed through the Statement of Financial Accounting Standards measurement date.
(2)Service credit and actuarial values are calculated as of June 30, 2013,2014, the pension plan’s measurement date for the last fiscal year. Actuarial values are based on the RP-2000 white collar mortality table (projected to 2020)2021), a 4.54%4.51% discount rate for the SORP, a 4.64% discount rate for the SERP, and a normal retirement age of 65. The method of valuation to determine the liabilities presented includes discounting the value of the respective benefits, based on service accrued through the measurement date and payable at age 65, for interest and mortality with mortality not applicable prior to the commencement of benefits. The present value amounts for the SORP include the impact of the years of service credited under the ADP SORP, and are also net of the ADP SORP offset (as described in more detail below).

The SORP is available to executive officers of the Company and the SERP is available to select non-officer executives, as designated by the Company. Benefits under the SORP and SERP are not subject to any maximum benefit limitations under the Code. Although benefits under the SORP and SERP are generally payable out of the general assets of the Company, the Company has established a “rabbi trust,” which is intended to provide a source of funds to be contributed by the Company to assist the Company in meeting its liabilities under the SORP. SORP and SERP.

The Broadridge SORP provides for a lifetime annuity retirement benefit payable annually equal to the product of: (a) a participant’s final five-year average compensation; (b) years of service to the Company while a participant in the SORP; (c) a multiplier which equals 2% for every year of credited service up to 20 years, plus an additional 1% for every year of service in excess of 20 years; and (d) the applicable vesting percentage. The Broadridge SERP provides for a lifetime annuity retirement benefit payable annually equal to the product of: (a) a participant’s final five-year average compensation; (b) years of service to the Company while a participant in the SERP; (c) a multiplier which equals 1.6% for every year of credited service up to 20 years, plus an additional 0.8% for every year of service in excess of 20 years; and (d) the applicable vesting percentage. The vesting schedule for the Broadridge SORP and SERP is as follows:

 

Credited Service  

Vesting Percent

  

Vesting Percentage

0-4

  0%  0%

5

  50%  50%

6

  60%  60%

7

  70%  70%

8

  80%  80%

9

  90%  90%

10

  100%  100%

Compensation covered under the Broadridge SORP and SERP includes base salary and annual cash incentive award (paid or deferred) and is not subject to the limitations under the Code. Equity compensation is not included in the calculation of the SORP and SERP benefit. Payments are also available in other forms of annuities.

Reduced benefits are available after age 60 using an early retirement reduction of 5% for each year the benefit commences earlier than age 65. If a participant with a vested benefit terminates employment with the Company prior to reaching age 60, payment of the benefit is delayed until the participant reaches age 60. In addition, the Broadridge SORP providesand SERP provide: (i) a disability retirement benefit, generally calculated in the same manner as the retirement benefit, if a participant incurs a “disability” while employed by the Company; and (ii) if a participant dies, a spousal benefit equal to 50% of the benefit the participant would have been entitled to at death, provided the participant is at least 35 years old and the vested percentage is greater than 0%.

Mr. Daly, Mr. Sheldon, Mr. Hogan, and Mr. Schifellite are also credited with the service they accrued under the ADP SORP as of the March 2007 spin-off date, or 13.0, 3.0, 12.0, and 6.0 years, respectively. While the net effect of this increases the accrued benefit they receive under the Broadridge SORP, the benefits are then offset by the amount of their vested, accrued benefits payable under the ADP SORP. The amounts of the offset will continue to be the obligations of ADP and are as follows: $223,770 for Mr. Daly, $0 for Mr. Sheldon, $206,108 for Mr. Hogan, and $25,916 for Mr. Schifellite.

The Broadridge SORP provides for a minimum annual age 65 benefit in any given year for Mr. Daly and Mr. Hogan of $435,526, subject to the offset for their vested accrued benefits under the ADP SORP.

NON-QUALIFIED DEFERRED COMPENSATION

Non-Qualified Deferred Compensation Plan

The following table presents contribution, earnings and balance information under the DC Plan for our Named Executive Officers for fiscal year 2014:

Name

  Executive
Contributions
in Last FY
($) (1)
   Registrant
Contributions in
Last FY
($)
   Aggregate
Earnings in
Last FY
($) (2)
   Aggregate
Withdrawals/
Distributions
($)
   Aggregate
Balance at
Last FYE
($)

Richard J. Daly

   —       —       —       —      —  

James M. Young

   —       —       —       —      —  

Timothy C. Gokey

   —       —       —       —      —  

Robert Schifellite

   —       —       —       —      —  

Lyell Dampeer

  $50,000     —      $95,723     —      $495,619

Dan Sheldon

   —       —       —       —      —  

John Hogan

   —       —       —       —      —  

Michael Liberatore

   —       —       —       —      —  

(1)Represents deferral from fiscal year 2013 annual performance-based cash incentive plan credited into the DC Plan during fiscal year 2014.
(2)Represents dividends and gain on underlying notional investment.

The Company maintains the DC Plan, an unfunded, non-qualified deferred compensation plan for Named Executive Officers and other executive officers. Participants can defer up to 100% of their annual performance-based cash incentive payment into a notional account. Accounts can earn additional value over time based on either a fixed interest rate or the growth rate of the Standard & Poor’s index of 500 leading U.S. companies. The fixed interest rate is equal to the five-year U.S. Treasury bond rate at the end of the previous fiscal year, rounded up to the nearest quarter-percentage point. This interest rate was set at 0.75%1.5% for fiscal year 2013.2014. Participants elect to receive distributions of their deferrals plus any subsequent interest or investment gains upon their retirement, or on a fixed future date. Broadridge does not make any matching contributions or other contributions into the

DC Plan for anyparticipants of the Named Executive Officers.SORP or SERP. Plan participants who terminate employment with Broadridge prior to their elected distribution date receive a lump-sum distribution of all deferred amounts no earlier than six months after the termination date. Distributions are subject to federal, state and local income taxes on both the principal amount and investment earnings at the ordinary income rate in the year in which such payments are made.

The Non-Qualified Deferred Compensation Table has been omitted from this Proxy Statement because none of the Named Executive Officers has a balance in the DC Plan or has made contributions to the DC Plan in fiscal year 2013.

POTENTIAL PAYMENTS UPON A TERMINATION OR CHANGE IN CONTROL

Change in Control Severance Plan and Enhancement Agreements

Effective as of the time of the Company’s spin-off from ADP, we adoptedThe Company maintains an executive severance plan for the payment of certain benefits to executive officers, including our Named Executive Officers, upon termination of employment from Broadridge due to a change in control.

The CIC Plan provides for the following severance benefits upon a “change in control” (as defined below) and subsequent termination without “cause” or for “good reason” (as defined below) if the termination occurs within two years after a change in control:

 

Compensation: The Named Executive Officers will receive 150% of their “current total annual compensation” (generally defined as the higher of the two most recent calendar years’ base salary amounts, plus the average annual cash incentive earned in the last two completed calendar years).

 

Stock Option Vesting: 100% vesting of all unvested stock options.

RSU Vesting: 100% vesting of all unvested time-based RSUs where vesting restrictions would have lapsed within two years of termination. In addition, any stock that a participant would have been entitled to receive had performance goals been achieved at target in the Company’s performance-based RSU programs will be granted to the participant.

The CIC Plan provides for the following severance benefits upon a change in control and subsequent termination without cause or for good reason if the termination occurs between the second and third anniversary of the change in control:

 

Compensation: The Named Executive Officersexecutive officers will receive 100% of their “current total annual compensation” (as defined above).

 

Stock Option Vesting: 100% vesting of all unvested stock options that would have vested within one year after termination.

 

RSU Vesting: 100% vesting of all unvested time-based RSUs where vesting restrictions would have lapsed within one year of termination. In addition, in the case of performance-based RSUs for which the performance period has ended, all earned but unvested stock for which vesting restrictions would have lapsed within one year of termination, will vest.

In addition, the Company will reduce the severance payments and benefits to the extent specified in the CIC Plan to avoid the imposition of the excise tax under Section 4999 of the Code.

Mr. Daly and Mr. Hogan entered into Enhancement Agreements with the Company at the time of the Company’s spin-off from ADP, pursuant to which they are entitled to receive on an item-by-item basis, the greater of the benefits and payments under the Enhancement Agreements and the CIC Plan. Under the Enhancement Agreements, if a change in control occurs and Mr. Daly’s or Mr. Hogan’s employment is terminated by the Company without “cause” or they resign for “good reason” within two years after a change in

control, they will receive a termination payment equal to 200% of their current total annual compensation (as defined above), or 150% of their current total annual compensation if the termination occurs between the second and third anniversary of the change in control. In addition, as of June 30, 2013,Previously, Mr. Daly and Mr. Hogan were entitled to a tax equalization payment which would place them in the same after-tax position as if the excise tax in Section 4999 of the Code did not apply. In September 2013, Mr. Daly and Mr. Hogan agreed to amend the Enhancement Agreements to give up their right to an excise tax gross-up payment which could have been payable in the event of a qualified termination following a change in control of the Company.

For purposes of the CIC Plan, a “change in control” generally means: (A) the acquisition of 35% or more of the total combined voting power of the Company’s then outstanding securities; (B) the merger, consolidation or other business combination of the Company, subject to certain exceptions; or (C) the sale of all or substantially all of the Company’s assets, subject to certain exceptions.

For purposes of the CIC Plan, “cause” generally means: (A) gross negligence or willful misconduct which is materially injurious to the Company monetarily or otherwise; (B) misappropriation or fraud with regard to the Company or its assets; or (C) conviction of, or the pleading of guilty or nolo contendere to, a felony involving the assets or business of the Company.

For purposes of the CIC Plan, “good reason” generally means the occurrence of any of the following events after a change in control which is not cured within 15 days after a participant provides written notice thereof: (A) material diminution in the value and importance of a participant’s position, duties, responsibilities or authority; (B) a reduction in a participant’s aggregate compensation or benefits; or (C) a failure of any successor or assign of the Company to assume in writing the obligations under the CIC Plan.

Officer Severance Plan

In the event of a termination without “cause” (as defined below) unrelated to a change in control, the Named Executive Officersexecutive officers would be eligible to receive severance benefits under the Officer Severance Plan instead of the CIC Plan. Upon a qualifying termination under the Officer Severance Plan, the Named Executive Officersexecutive officers would be eligible to receive:

 

Continued payment of base salary of 24 months for the CEO and 18 months for the other Named Executive Officers;

 

Payment of a cash incentive award for the fiscal year of termination on the normal payment date based on actual performance, prorated for the Named Executive Officers other than the CEO, who is eligible for a full year’s cash incentive award; and

 

Continued vesting during the severance period of equity awards granted after the effective date of the Officer Severance Plan, with proration of performance-based restricted stock and RSUs if the termination occurs prior to the end of the performance period.

As a condition to receiving any severance payments under the Officer Severance Plan, Named Executive Officersexecutive officers will be required to enter into agreements that contain a general release of the Company and certain restrictive covenants, including non-competition provisions that will be in force during the severance period.

In the instance that a Named Executive Officeran executive officer is due benefits or payments under both the Officer Severance Plan and the CIC Plan, such as in the event a termination without cause occurs within three years of a change in control, the Named Executive Officerexecutive officer would be eligible to receive the greater of the benefits and payments and the more favorable terms and conditions determined on an item-by-item basis.

For purposes of the Officer Severance Plan, “cause” generally means: (A) conviction of, or pleading nolo contendere to, a felony; (B) willful misconduct resulting in material harm to the Company; (C) fraud, embezzlement, theft or dishonesty resulting in material harm to the Company; (D) continuing failure to perform duties after written notice; or (E) material breach of any confidentiality, non-solicitation and/or non-competition agreements.

Special Officer Separation Agreement with Mr. Sheldon

On February 5, 2014, the Company and Mr. Sheldon entered into a Special Officer Separation Agreement, the key provisions of which are:

1)Mr. Sheldon resigned as the Chief Financial Officer and executive officer of Broadridge effective as of February 5, 2014, but continued to be employed by the Company until April 11, 2014 in order to help the Company with transition matters.

2)Mr. Sheldon was paid his base salary through April 11, 2014.

3)Mr. Sheldon received a separation payment in recognition of his many years of valued service to the Company in the amount of $750,000 payable in a lump sum in July 2014, contingent on his compliance with the terms of the Special Officer Separation Agreement.

4)Mr. Sheldon earned a cash incentive payment for the 2014 fiscal year through the Corporate Officer Bonus Plan to the extent the performance goals previously established by the Company were achieved during the fiscal year; which award amount was prorated for the period of time he was employed by the Company during the 2014 fiscal year, and paid at the regular time in August 2014.

5)Mr. Sheldon retained the possibility of being paid the performance-based RSUs granted in October 2012 and October 2013, prorated to reflect the period of time he was employed by the Company during the respective performance periods, if the performance goals of the awards previously established by the Company are achieved during the respective performance periods.

6)Mr. Sheldon’s outstanding unvested stock options will continue to vest and remain exercisable for a post-separation period of 36 months.

7)Mr. Sheldon’s outstanding vested stock options that were granted in February 2012 and February 2013 will remain exercisable for a post-separation period of 36 months.

8)Mr. Sheldon agreed to comply with certain non-competition, non-solicitation, and other covenants, and gave the Company a release which he reaffirmed following his last day of employment.

Mr. Sheldon’s outstanding stock options that were granted in February 2010 or earlier, all of which have vested, will remain exercisable for a post-separation period of 36 months from the date of separation, as prescribed by the terms of the awards. The Special Officer Separation Agreement does not alter Mr. Sheldon’s benefits and rights under the Broadridge SORP, or other plans or programs not mentioned above.

Payments Upon a Termination or Change in Control TableTables

The following tables set forth the payments which each of our Named Executive Officers would have received under various termination scenarios under arrangements in effect on June 30, 2013.2014. With regard to the payments on a change in control, the amounts detailed below assume that the employment of each Named Executive Officer’s employmentOfficer was terminated by the Company on June 30, 20132014 without “cause” or by the executive for “good reason” within the specified time period of the change in control.

Richard J. Daly

 

Payment Elements

 Change In Control Death  Disability  Voluntary
Termination,
or
Involuntary
Termination
With Cause
  Involuntary
Termination
Without
Cause
  Retirement  Change In Control Death  Disability  Voluntary
Termination,
or
Involuntary
Termination
With Cause
  Involuntary
Termination
Without
Cause
  Retirement 
Within Two
Years
Following
 Between Two
and Three
Years
Following
  Within Two
Years
Following
 Between Two
and Three
Years

Following
 

Base Salary Payment

 $1,430,000 (1)  $1,430,000 (7)  $ �� $   $   $1,430,000 (12)  $   $1,600,000 (1)  $1,600,000 (5)  $  $  $   $1,600,000 (9)  $ 

Annual Cash Incentive Payment

 $1,948,334 (1)  $1,179,750 (7)  $   $   $   $1,179,750 (12)  $   $2,394,795 (1)  $1,796,096 (5)  $  $  $   $1,320,000 (9)  $ 

Stock Options

 $1,776,846 (2)  $953,621 (12)  $1,776,846 (8)  $1,776,846 (8)  $(11)  $953,621 (12)  $(13)  $7,392,787 (2)  $7,198,851 (10)(11)  $7,392,787 (6)  $7,392,787 (6)  $(8)  $7,198,851 (10)(11)  $7,198,851 (10)(11) 

RSUs

 $2,899,453 (2)  $2,899,453 (12)  $2,899,453 (8)  $2,899,453 (8)  $(11)  $2,899,453 (12)  $(13)  $4,362,081 (2)  $3,333,095 (10)(12)  $4,362,081 (6)  $4,362,081 (6)  $(8)  $3,333,095 (10)(12)  $3,333,095 (10)(12) 

Broadridge SORP

 $5,530,850 (3)(4)  $5,530,850 (3)(4)  $2,865,391 (9)  $7,386,397 (10)  $5,530,850 (4)  $5,530,850 (4)  $5,530,850 (4)  $6,349,375 (3)  $6,349,375 (3)  $3,328,899 (7)  $7,949,301 (3)  $6,349,375 (3)  $6,349,375 (3)  $6,349,375 (3) 

Excise Tax Gross Up

 $(5)  $(5)  $  $   $   $   $  

Health Coverage

 $94,000 (6)  $94,000 (6)  $(6)  $94,000 (6)  $94,000 (6)  $94,000 (6)  $94,000 (6)  $81,000 (4)  $81,000 (4)  $   $81,000 (4)  $81,000 (4)  $81,000 (4)  $81,000 (4) 
 

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

 

Total

 $13,679,483   $12,087,674   $7,541,690   $12,156,696    $5,624,850    $12,087,674    $5,624,850    $22,180,038   $20,358,417   $15,083,767   $19,785,169   $6,430,375   $19,882,321   $16,962,321  
 

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

 

 

(1)Represents the payment of two2 times the sum of Mr. Daly’s current base salary (the higher of calendar year 20132014 and calendar year 2012,2013, the two most recent calendar years), and the average of the annual cash incentive paid in 20112012 and 20122013 (the last two completed calendar years). as provided under Mr. Daly’s Change in Control Enhancement Agreement.
(2)Represents the aggregate value of all unvested stock options and performance-based RSUs vesting upon termination under the CIC Plan, based on the June 28, 2013 Common Stock30, 2014 common stock closing price of $26.58$41.64 per share. All stock options vest upon termination without “cause” or for “good reason” if the termination occurs within two years after the change in control. If the termination occurs in the third year following a change in control, options that would have vested within one year after termination will vest. All performance-based RSUs that would have vested within two years after a termination without “cause” or for “good reason” will vest at 100% of target upon termination following a change in control if the termination occurs within two years following the change in control. All performance-based RSUs that have been earned (amount above assumes earned at target) but have not vested and that would have vested within one year of termination following a change in control will vest if the termination occurs in the third year following the change in control.
(3)There are no special changeMr. Daly is 100% vested in control provisions with regard to the Broadridge SORP.
(4)Assumes benefits commence athis SORP benefits. Based on his age, 60. A participant who terminates and is at least age 60 will commence benefits immediately. A participant who terminates but is not yet age 60 willMr. Daly would commence receiving annual benefits at termination of employment that are reduced by an early retirement factor until he reaches the age 60.of 65. The SORP benefits are not subject to a vesting requirement or early retirement reduction in the event of disability. Service credit and actuarial values are calculated as of June 30, 20132014 (Broadridge SORP’s measurement date for the last fiscal year). Actuarial values are based on the RP-2000 white collar mortality table (projected to 2020)2021) and a 4.54%4.51% discount rate.
(5)The Enhancement Agreement provides for a tax equalization payment in an amount which, when added to the other amounts payable to Mr. Daly under the CIC Plan, would place Mr. Daly in the same after-tax position as if the excise tax penalty of Section 4999 of the Code did not apply. Based on these projected termination payments and Mr. Daly’s historical average total annual compensation, an excise tax would not be incurred. In September 2013, the Enhancement Agreement was amended to delete Mr. Daly’s right to this tax equalization payment.
(6)(4)Mr. Daly will be eligible for executive retiree medical benefits under the Company’s Executive Retiree Health Insurance Plan upon termination of employment with the Company until he reaches age 65. Actuarial values are calculated as of June 30, 20132014 (measurement date for the last fiscal year) and are based on the RP-2000 white collar mortality table (projected to 2020)2021) and a 3.50%3.62% discount rate.
(7)(5)ReflectsRepresents salary continuation of 24 months following termination and a prorated cash incentive assuming performance achievement at target as provided under the Officer Severance Plan.Plan, and the payment of the average of the annual cash incentive paid in 2012 and 2013 (the last two completed calendar years) as provided under Mr. Daly’s Change in Control Enhancement Agreement.
(8)(6)Represents the aggregate value of all unvested stock options and performance-based RSUs, based on the June 28, 2013 Common Stock30, 2014 common stock closing price of $26.58$41.64 per share. All unvested stock options vest in full and unvested performance-based RSUs vest at target upon death or permanent disability.

(9)(7)Represents the benefitannual benefits payable to the spouse of the deceased participant under the Broadridge SORP. The spouse of a deceased participant is assumed to be the same age as the participant and is expected to commence receiving benefits at age 60.
(10)A disabled participant is assumed to commence receiving unreduced benefits immediately.
(11)(8)All unvested stock options and performance-based RSUs terminate upon voluntary termination or involuntary termination with cause.
(12)(9)Represents the amount that would be received under the Severance Plan. Reflects salary continuation of 24 months following termination and the full yearan annual cash incentive assumingaward (assuming performance achievement at target. For equity awards made aftertarget for purposes of this table) as provided under the Officer Severance Plan was approved: options continue to vest during the severance period and performance-based RSUs continue to vest through the severance period with payout of any vested awards on the original vesting date, and, in the case of a termination that occurs prior to the end of the performance period, the portion of the award that vests will be determined based on actual performance for the entire performance period and by prorating to reflect the portion of the performance period worked.Plan.

(13)(10)These awards would continue to vest for a period of time following the participant’s “retirement.” The original vesting dates would continue to apply to the vesting that occurs after retirement. For this purpose, “retirement” is defined as termination of employment for any reason other than “cause” for employees age 65 and over, and involuntary termination of employment without “cause” for employees age 60 and over. Employees between the ages of 60 and 64 who voluntarily terminate employment with the Company would not be eligible under these provisions. Based on his age, Mr. Daly would not qualify for retirement treatment of his awards underif he were to voluntarily terminate employment or if the Company terminated his employment with “cause,” but he would qualify for retirement treatment of his awards if the Company involuntarily terminated his employment without “cause.”
(11)Represents the aggregate value of all stock options scheduled to vest over the three years following June 30, 2014 that Mr. Daly would be eligible to receive in the event of his “retirement,” in accordance with the definition described in footnote 10, based on the June 30, 2014 common stock closing price of $41.64 per share.
(12)Represents the aggregate value of performance-based RSUs at target that Mr. Daly would be eligible to receive in the event of his “retirement,” in accordance with the definition described in footnote 10. The number of performance-based RSUs earned would be determined at the end of the performance cycle. Therefore, the actual earned value on all grants is indeterminable on the termination date, and for this definition at this time.table it is assumed that the target number of performance-based RSUs is earned.

Dan SheldonJames M. Young

 

Payment Elements

 Change In Control Death  Disability  Voluntary
Termination,
or
Involuntary
Termination
With Cause
  Involuntary
Termination
Without
Cause
  Retirement   Change In Control Death   Disability   Voluntary
Termination,
or
Involuntary
Termination
With Cause
   Involuntary
Termination
Without
Cause
  Retirement 
Within Two
Years
Following
 Between
Two and
Three Years
Following
  Within Two
Years
Following
 Between
Two and
Three Years
Following
    

Base Salary Payment

 $710,700 (1)  $710,700 (6)  $   $   $   $710,700 (11)  $    $772,500 (1)  $772,500 (2)  $0   $0   $0    $772,500 (2)  $0 

Annual Cash Incentive Payment

 $495,150 (1)  $355,350 (6)  $   $   $   $355,350 (11)  $    $  $  $0   $0   $0    $  $0 

Stock Options

 $436,874 (2)  $117,911 (2)  $436,874 (7)  $436,874 (7)  $(10)  $117,911 (11)  $(12)   $  $  $0   $0   $0   $  $0 

RSUs

 $733,954 (2)  $733,954 (11)  $733,954 (7)  $733,954 (7)  $(10)  $733,954 (11)  $(12)   $  $  $0   $0   $0   $  $0 

Broadridge SORP

 $1,343,523 (3)(4)  $1,343,523 (3)(4)  $696,045 (8)  $2,404,848 (9)  $1,343,523 (4)  $1,343,523 (4)  $1,343,523 (4) 

Health Coverage

 $148,000 (5)  $148,000 (5)  $(5)  $148,000 (5)  $148,000 (5)  $148,000 (5)  $148,000 (5) 
 

 

  

 

  

 

  

 

  

 

  

 

  

 

   

 

  

 

  

 

   

 

   

 

   

 

  

 

 

Total

 $3,868,201    $3,409,438    $1,866,873    $3,723,676    $1,491,523    $3,409,438    $1,491,523     $772,500   $772,500   $0   $0   $0   $772,500   $0 
 

 

  

 

  

 

  

 

  

 

  

 

  

 

   

 

  

 

  

 

   

 

   

 

   

 

  

 

 

 

(1)Represents the payment of 1.5 times the sum of Mr. Sheldon’sYoung’s current base salary and the average of the annual cash incentive paid in 2012 and 2013 (the last two completed calendar years) as provided under the CIC Plan.
(2)Represents salary continuation of 18 months following termination as provided under the Officer Severance Plan.

Timothy C. Gokey

Payment Elements

 Change In Control  Death  Disability  Voluntary
Termination,
or
Involuntary
Termination
With Cause
  Involuntary
Termination
Without
Cause
  Retirement 
 Within Two
Years
Following
  Between
Two and
Three Years

Following
      

Base Salary Payment

 $820,500 (1)  $820,500 (8)  $  $  $  $820,500 (8)  $ 

Annual Cash Incentive Payment

 $895,500 (1)  $711,100 (8)  $  $  $  $711,100 (8)  $ 

Stock Options

 $4,094,641 (2)  $1,991,476 (2)  $4,094,641 (4)  $4,094,641 (4)  $(7)  $1,991,476 (8)  $(9) 

RSUs

 $1,584,027 (2)  $829,469 (2)  $1,584,027 (4)  $1,584,027 (4)  $(7)  $829,469 (8)  $(9) 

Broadridge SORP

 $(3)  $(3)  $(5)  $1,134,667 (6)  $(3)  $(3)  $(3) 
 

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

 

Total

 $7,394,668   $4,352,545   $5,678,668   $6,813,335   $  $4,352,545   $ 
 

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

 

(1)Represents the payment of 1.5 times the sum of Mr. Gokey’s current base salary (the higher of calendar year 20132014 and calendar year 2012,2013, the two most recent calendar years), and the average of the annual cash incentive paid in 20112012 and 20122013 (the last two completed calendar years). as provided under the CIC Plan.
(2)Represents the aggregate value of all unvested stock options and performance-based RSUs vesting upon termination under the CIC Plan, based on a June 28, 2013 Common Stock30, 2014 common stock closing price of $26.58$41.64 per share. All stock options vest upon termination without “cause” or for “good reason” if the termination occurs within two years after the change in control. If the termination occurs in the third year following a change in control, options that would have vested within one year after termination will vest. All performance-based RSUs that would have vested within two years after a termination without “cause” or for “good reason” will vest at 100% of target upon termination following a change in control if the termination occurs within two years following the change in control. All performance-based RSUs that have been earned (amount above assumes earned at target) but have not vested and that would have vested within one year of termination will vest following a change in control if the termination occurs in the third year following the change in control.

(3)There are no special changeMr. Gokey is not yet vested in control provisions with regard tohis SORP benefits as he has not met the Broadridge SORP.required five years of service.
(4)Assumes benefits commence at age 60. A participant who terminates and is at least age 60 will commence benefits immediately. A participant who terminates but is not yet age 60 will commence receiving benefits at age 60. Service credit and actuarial values are calculated as of June 30, 2013 (Broadridge SORP’s measurement date for the last fiscal year). Actuarial values are based on the RP-2000 white collar mortality table (projected to 2020) and a 4.54% discount rate.
(5)Mr. Sheldon will be eligible for executive retiree medical benefits under the Company’s Executive Retiree Health Insurance Plan upon termination of employment with the Company until he reaches age 65. Actuarial values are calculated as of June 30, 2013 (measurement date for the last fiscal year) and are based on the RP-2000 white collar mortality table (projected to 2020) and a 3.50% discount rate.
(6)Reflects salary continuation of 18 months following termination and a prorated cash incentive assuming performance achievement at target as provided under the Severance Plan.
(7)Represents the aggregate value of all unvested stock options and performance-based RSUs, based on the June 28, 2013 Common Stock30, 2014 common stock closing price of $26.58$41.64 per share. All unvested stock options vest in full and unvested performance-based RSUs vest at target upon death or permanent disability.
(8)(5)Represents the benefitannual benefits payable to the spouse of the deceased participant under the Broadridge SORP. The spouse of a deceased participant is assumed to be the same age as the participant and is expected to commence receiving benefits at age 60.
(9)(6)A disabled participant is assumedThe SORP benefits are not subject to commence receiving unreduced benefits immediately.a vesting requirement or early retirement reduction in the event of disability. Service credit and actuarial values are calculated as of June 30, 2014 (Broadridge SORP’s measurement date for the last fiscal year). Actuarial values are based on the RP-2000 white collar mortality table (projected to 2021) and a 4.51% discount rate.
(10)(7)All unvested stock options and performance-based RSUs terminate upon voluntary termination or involuntary termination with cause.
(11)(8)Represents the amount that would be received under the Severance Plan. Reflects salary continuation of 18 months following termination and a prorated annual cash incentive award assuming performance achievement at target.target as provided under the Officer Severance Plan. For equity awards made after the Officer Severance Plan was approved: options continue to vest during the severance period and performance-based RSUs continue to vest through the severance period with payout of any vested awards on the original vesting date, and, in the case of a termination that occurs prior to the end of the performance period, the portion of the award that vests will be determined based on actual performance for the entire performance period and by prorating to reflect the portion of the performance period worked.
(12)These awards would continue to vest for a period of time following the participant’s “retirement.” The original vesting dates would continue to apply to the vesting that occurs after retirement. For this purpose, “retirement” is defined as termination of employment for any reason other than “cause” for employees age 65 and over, and involuntary termination of employment without “cause” for employees age 60 and over. Employees between the ages of 60 and 64 who voluntarily terminate employment with the Company would not be eligible under these provisions. Based on his age, Mr. Sheldon would not qualify for retirement treatment of his awards under this definition at this time.

John Hogan

Payment Elements

 Change In Control  Death  Disability  Voluntary
Termination, or
Involuntary
Termination
With Cause
  Involuntary
Termination Without
Cause
  Retirement 
 Within
Two Years
Following
  Between Two and
Three Years
Following
      

Base Salary Payment

 $1,080,000 (1)  $810,000 (7)  $   $   $   $810,000 (12)  $  

Annual Cash Incentive Payment

 $1,245,000 (1)  $933,750 (7)  $   $   $   $810,000 (12)  $  

Stock Options

 $891,955 (2)  $240,738 (2)  $891,955 (8)  $891,955 (8)  $(11)  $722,214 (13)(14)  $722,214 (13)(14) 

RSUs

 $1,498,501 (2)  $777,837 (2)  $1,498,501 (8)  $1,498,501 (8)  $(11)  $1,318,335 (13)(15)  $1,318,335 (13)(15) 

Broadridge SORP

 $3,278,242 (3)(4)  $3,278,242 (3)(4)  $1,722,847 (9)  $3,292,327 (10)  $3,278,242 (4)  $3,278,242 (4)  $3,278,242 (4) 

Excise Tax Gross Up

 $(5)  $(5)  $   $   $   $   $  

Health Coverage

 $14,000 (6)  $14,000 (6)  $(6)  $14,000 (6)  $14,000 (6)  $14,000 (6)  $14,000 (6) 
 

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

 

Total

 $8,007,698    $6,054,567    $4,113,303    $5,696,783    $3,292,242    $6,952,791    $5,332,791   
 

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

 

(1)Represents the payment of two times the sum of Mr. Hogan’s current base salary (the higher of calendar year 2013 and calendar year 2012, the two most recent calendar years), and the average of the annual cash incentive paid in 2011 and 2012 (the last two completed calendar years).
(2)Represents the aggregate value of all unvested stock options and performance-based RSUs vesting upon termination under the CIC Plan, based on a June 28, 2013 Common Stock closing price of $26.58 per share. All stock options vest upon termination without “cause” or for “good reason” if the termination occurs within two years after the change in control. If the termination occurs in the third year following a change in control, options that would have vested within one year after termination will vest. All performance-based RSUs that would have vested within two years after a termination without “cause” or for “good reason” will vest at 100% of target upon termination following a change in control if the termination occurs within two years following the change in control. All performance-based RSUs that have been earned (amount above assumes earned at target) but have not vested and that would have vested within one year of termination following a change in control will vest if the termination occurs in the third year following the change in control.
(3)There are no special change in control provisions with regard to the Broadridge SORP.
(4)Assumes benefits commence upon termination. A participant who terminates and is at least age 60 will commence benefits immediately. A participant who terminates but is not yet age 60 will commence receiving benefits at age 60. Service credit and actuarial values are calculated as of June 30, 2013 (Broadridge SORP’s measurement date for the last fiscal year). Actuarial values are based on the RP-2000 white collar mortality table (projected to 2020) and a 4.54% discount rate.
(5)The Enhancement Agreement provides for a tax equalization payment in an amount which, when added to the other amounts payable to Mr. Hogan under the CIC Plan, would place Mr. Hogan in the same after-tax position as if the excise tax penalty of Section 4999 of the Code did not apply. Based on these projected termination payments upon a change in control and Mr. Hogan’s historical average total annual compensation, an excise tax would be not be incurred. In September 2013, the Enhancement Agreement was amended to delete Mr. Hogan’s right to this tax equalization payment.
(6)Mr. Hogan will be eligible for executive retiree medical benefits under the Company’s Executive Retiree Health Insurance Plan upon termination of employment with the Company until he reaches age 65. Actuarial values are calculated as of June 30, 2013 (measurement date for the last fiscal year) and are based on the RP-2000 white collar mortality table (projected to 2020) and a 3.50% discount rate.
(7)Represents the payment of 1.5 times the sum of Mr. Hogan’s current base salary (the higher of calendar year 2013 and calendar year 2012, the two most recent calendar years), and the average of the annual cash incentive paid in 2011 and 2012 (the last two completed calendar years).
(8)Represents the aggregate value of all unvested stock options and performance-based RSUs, based on the June 28, 2013 Common Stock closing price of $26.58 per share. All unvested stock options vest in full and performance-based RSUs vest at target upon death or permanent disability.
(9)Represents the benefit payable to the spouse of the deceased participant under the Broadridge SORP. The spouse of a deceased participant is assumed to be the same age as the participant and is expected to commence receiving benefits at age 60.
(10)A disabled participant is assumed to commence receiving unreduced benefits immediately.
(11)All unvested stock options and performance-based RSUs terminate upon voluntary termination or involuntary termination with cause.
(12)Represents the amount that would be received under the Severance Plan. Reflects salary continuation of 18 months following termination and a prorated cash incentive assuming performance achievement at target. For equity awards made after the Severance Plan was approved: options continue to vest during the severance period and performance-based RSUs continue to vest through the severance period with payout of any vested awards on the original vesting date, and, in the case of a termination that occurs prior to the end of the performance period, the portion of the award that vests will be determined based on actual performance for the entire performance period and by prorating to reflect the portion of the performance period worked.
(13)

These awards would continue to vest for a period of time following the participant’s “retirement.” The original vesting dates would continue to apply to the vesting that occurs after retirement. For this purpose, “retirement” is defined as termination of employment for any reason other than “cause” for employees age 65 and over, and involuntary termination of employment without “cause” for employees age 60 and over. Employees between the ages of 60 and 64 who voluntarily terminate employment with the Company would not be eligible under these provisions. Based on his age, Mr. Hogan would not qualify for retirement treatment of his awards if he were to voluntarily terminate employment or if the Company terminated his employment with “cause,” but he would qualify for retirement

treatment of his awards if the Company involuntarily terminated his employment without “cause.” The amounts shown in the Involuntary Termination Without Cause column assume that the Company involuntarily terminated Mr. Hogan’s employment without “cause” on June 30, 2013.
(14)Represents the aggregate value of all stock options scheduled to vest over the three years following June 28, 2013 that Mr. Hogan would be eligible to receive in the event of his “retirement,” in accordance with the definition described in footnote 13, based on the June 28, 2013 Common Stock closing price of $26.58 per share.
(15)Represents the aggregate value of performance-based RSUs at target that Mr. Hogan would be eligible to receive in the event of his “retirement,” in accordance with the definition described in footnote 13. The number of performance-based RSUs earned would be determined at the end of the performance cycle. Therefore, the actual earned value on all grants is indeterminable on the termination date, and for this table it is assumed that the target number of performance-based RSUs is earned.

Timothy C. Gokey

Payment Elements

 Change In Control  Death  Disability  Voluntary
Termination,
or
Involuntary
Termination
With Cause
  Involuntary
Termination
Without Cause, or
Voluntary
Termination for
Good Reason
  Retirement 
 Within Two Years
Following
  Between Two and
Three Years
Following
      

Base Salary Payment

 $795,750 (1)  $795,750 (5)  $   $   $   $795,750 (10)  $  

Annual Cash Incentive Payment

 $667,350 (1)  $610,075 (5)  $   $   $   $610,075 (10)  $  

Stock Options

 $1,170,721 (2)  $182,662 (2)  $1,170,721 (6)  $1,170,721 (6)  $(9)  $182,662 (10)  $(11) 

RSUs

 $942,181 (2)  $942,181 (10)  $942,181 (6)  $942,181 (6)  $(9)  $942,181 (10)  $(11) 

Broadridge SORP

 $(3)(4)  $(3)(4)  $(7)  $725,929 (8)  $(4)  $(4)  $(4) 

Health Coverage

 $   $   $   $   $   $   $  
 

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

 

Total

 $3,576,002    $2,530,668    $2,112,902    $2,838,831    $   $2,530,668    $  
 

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

 

(1)Represents the payment of 1.5 times the sum of Mr. Gokey’s current base salary (the higher of calendar year 2013 and calendar year 2012, the two most recent calendar years), and the average of the annual cash incentive paid in 2011 and 2012 (the last two completed calendar years).
(2)Represents the aggregate value of all unvested stock options and performance-based RSUs vesting upon termination under the CIC Plan, based on a June 28, 2013 Common Stock closing price of $26.58 per share. All stock options vest upon termination without “cause” or for “good reason” if the termination occurs within two years after the change in control. If the termination occurs in the third year following a change in control, options that would have vested within one year after termination will vest. All performance-based RSUs that would have vested within two years after a termination without “cause” or for “good reason” will vest at 100% of target upon termination following a change in control if the termination occurs within two years following the change in control. All performance-based RSUs that have been earned (amount above assumes earned at target) but have not vested and that would have vested within one year of termination will vest following a change in control if the termination occurs in the third year following the change in control.
(3)There are no special change in control provisions with regard to the Broadridge SORP.
(4)Assumes benefits commence at age 60. A participant who terminates and is at least age 60 will commence benefits immediately. A participant who terminates but is not yet age 60 will commence receiving benefits at age 60. Service credit and actuarial values are calculated as of June 30, 2013 (Broadridge SORP’s measurement date for the last fiscal year). Actuarial values are based on the RP-2000 white collar mortality table (projected to 2020) and a 4.54% discount rate.
(5)Reflects salary continuation of 18 months following termination and a prorated cash incentive assuming performance achievement at target as provided under the Severance Plan.
(6)Represents the aggregate value of all unvested stock options and performance-based RSUs, based on the June 28, 2013 Common Stock closing price of $26.58 per share. All unvested stock options vest in full and unvested performance-based RSUs vest at target upon death or permanent disability.
(7)Represents the benefit payable to the spouse of the deceased participant under the Broadridge SORP. The spouse of a deceased participant is assumed to be the same age as the participant and is expected to commence receiving benefits at age 60.
(8)A disabled participant is assumed to commence receiving unreduced benefits immediately.
(9)All unvested stock options and performance-based RSUs terminate upon voluntary termination or involuntary termination with cause.
(10)Represents the amount that would be received under the Severance Plan. Reflects salary continuation of 18 months following termination and a prorated cash incentive assuming performance achievement at target. For equity awards made after the Severance Plan was approved: options continue to vest during the severance period and performance-based RSUs continue to vest through the severance period with payout of any vested awards on the original vesting date, and, in the case of a termination that occurs prior to the end of the performance period, the portion of the award that vests will be determined based on actual performance for the entire performance period and by prorating to reflect the portion of the performance period worked.

(11)These awards would continue to vest for a period of time following the participant’s “retirement.” The original vesting dates would continue to apply to the vesting that occurs after retirement. For this purpose, “retirement” is defined as termination of employment for any reason other than “cause” for employees age 65 and over, and involuntary termination of employment without “cause” for employees age 60 and over. Employees between the ages of 60 and 64 who voluntarily terminate employment with the Company would not be eligible under these provisions. Based on his age, Mr. Gokey would not qualify for retirement treatment of his awards under this definition at this time.equity awards.

Robert Schifellite

 

Payment Elements

 Change In Control Death  Disability  Voluntary
Termination, or
Involuntary
Termination
With Cause
  Involuntary
Termination
Without Cause
  Retirement  Change In Control Death  Disability  Voluntary
Termination, or
Involuntary
Termination
With Cause
  Involuntary
Termination
Without Cause
  Retirement 
Within Two Years
Following
 Between Two and
Three Years
Following
  Within Two Years
Following
 Between Two and
Three Years
Following
 

Base Salary Payment

 $645,840 (1)  $645,840 (5)  $   $   $   $645,840 (10)  $   $711,071 (1)  $711,071 (8)  $  $  $  $711,071 (8)  $ 

Annual Cash Incentive Payment

 $565,950 (1)  $473,616 (5)  $   $   $   $473,616 (10)  $   $757,350 (1)  $521,452 (8)  $  $  $  $521,452 (8)  $ 

Stock Options

 $492,301 (2)  $130,300 (2)  $492,301 (6)  $492,301 (6)  $(9)  $130,300 (10)  $(11)  $2,007,825 (2)  $740,698 (2)  $2,007,825 (5)  $2,007,825 (5)  $(7)  $740,698 (8)  $(9) 

RSUs

 $792,775 (2)  $792,775 (10)  $792,775 (6)  $792,775 (6)  $(9)  $792,775 (10)  $(11)  $1,125,321 (2)  $645,129 (2)  $1,125,321 (5)  $1,125,321 (5)  $(7)  $645,129 (8)  $(9) 

Broadridge SORP

 $1,453,181 (3)(4)  $1,453,181 (3)(4)  $752,856 (7)  $2,709,135 (8)  $1,453,181 (4)  $1,453,181 (4)  $1,453,181 (4)  $1,867,186 (3)  $1,867,186 (3)  $976,892 (6)  $3,246,498 (3)  $1,867,186 (3)  $1,867,186 (3)  $1,867,186 (3) 

Health Coverage

 $   $   $   $   $   $   $   $173,000 (4)  $173,000 (4)  $   $173,000 (4)  $173,000 (4)  $173,000 (4)  $173,000 (4) 
 

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

 

Total

 $3,950,047    $3,495,712    $2,037,932    $3,994,211    $1,453,181    $3,495,712    $1,453,181    $6,641,753   $4,658,536   $4,110,038   $6,552,644   $2,040,186   $4,658,536   $2,040,186  
 

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

 

 

(1)Represents the payment of 1.5 times the sum of Mr. Schifellite’s current base salary (the higher of calendar year 20132014 and calendar year 2012,2013, the two most recent calendar years), and the average of the annual cash incentive paid in 20112012 and 20122013 (the last two completed calendar years). as provided under the CIC Plan.
(2)Represents the aggregate value of all unvested stock options and performance-based RSUs vesting upon termination under the CIC Plan, based on a June 28, 2013 Common Stock30, 2014 common stock closing price of $26.58$41.64 per share. All stock options vest upon termination without “cause” or for “good reason” if the termination occurs within two years after the change in control. If the termination occurs in the third year following a change in control, options that would have vested within one year after termination will vest. All performance-based RSUs that would have vested within two years after a termination without “cause” or for “good reason” will vest at 100% of target upon termination following a change in control if the termination occurs within two years following the change in control. All performance-based RSUs that have been earned (amount above assumes earned at target) but have not vested and that would have vested within one year of termination will vest following a change in control if the termination occurs in the third year following the change in control.
(3)There are no special changeMr. Schifellite is 100% vested in control provisions with regard to the Broadridge SORP.
(4)Assumes benefits commence athis SORP benefits. Based on his age, 60. A participant who terminates and is at least age 60 will commence benefits immediately. A participant who terminates but is not yet age 60 willMr. Schifellite would commence receiving annual benefits atwhen he reaches the age 60.of 60 that are reduced by an early retirement factor until he reaches the age of 65. The SORP benefits are not subject to a vesting requirement or early retirement reduction in the event of disability. Service credit and actuarial values are calculated as of June 30, 20132014 (Broadridge SORP’s measurement date for the last fiscal year). Actuarial values are based on the RP-2000 white collar mortality table (projected to 2020)2021) and a 4.54%4.51% discount rate.
(5)(4)Reflects salary continuationMr. Schifellite will be eligible for executive retiree medical benefits under the Executive Retiree Health Insurance Plan upon termination of 18 months following terminationemployment with the Company until he reaches age 65. Actuarial values are calculated as of June 30, 2014 (measurement date for the last fiscal year) and are based on the RP-2000 white collar mortality table (projected to 2021) and a prorated cash incentive assuming performance achievement at target as provided under the Severance Plan.3.62% discount rate.
(6)(5)Represents the aggregate value of all unvested stock options and performance-based RSUs, based on the June 28, 2013 Common Stock30, 2014 common stock closing price of $26.58$41.64 per share. All unvested stock options vest in full and unvested performance-based RSUs vest at target upon death or permanent disability.
(7)(6)Represents the benefitannual benefits payable to the spouse of the deceased participant under the Broadridge SORP. The spouse of a deceased participant is assumed to be the same age as the participant and is expected to commence receiving benefits at age 60.
(8)A disabled participant is assumed to commence receiving unreduced benefits immediately.
(9)(7)All unvested stock options and performance-based RSUs terminate upon voluntary termination or involuntary termination with cause.
(10)(8)Represents the amount that would be received under the Severance Plan in the event of an involuntary termination not in connection with a change in control. Reflects salary continuation of 18 months following termination and a prorated annual cash incentive award assuming performance achievement at target.target as provided under the Officer Severance Plan. For equity awards made after the Officer Severance Plan was approved: options continue to vest during the severance period and performance-based RSUs continue to vest through the severance period with payout of any vested awards on the original vesting date, and, in the case of a termination that occurs prior to the end of the performance period, the portion of the award that vests will be determined based on actual performance for the entire performance period and by prorating to reflect the portion of the performance period worked.
(11)(9)Based on his age, Mr. Schifellite would not qualify for retirement treatment of his equity awards.

Lyell Dampeer

Payment Elements

 Change In Control  Death  Disability  Voluntary
Termination, or
Involuntary
Termination
With Cause
  Involuntary
Termination
Without Cause
  Retirement 
 Within Two Years
Following
  Between Two and
Three Years
Following
      

Base Salary Payment

 $579,375 (1)  $579,375 (9)  $  $  $  $579,375��(9)  $ 

Annual Cash Incentive Payment

 $481,667 (1)  $321,111 (5)  $  $  $  $309,000 (9)  $ 

Stock Options

 $939,286 (2)  $872,701 (10)(11)  $939,286 (6)  $939,286 (6)  $(8)  $872,701 (10)(11)  $872,701 (10)(11) 

RSUs

 $369,722 (2)  $290,835 (10)(12)  $369,722 (6)  $369,722 (6)  $(8)  $290,835 (10)(12)  $290,835 (10)(12) 

Broadridge SERP

 $308,249 (3)  $308,249 (3)  $162,183 (7)  $687,901 (3)  $308,249 (3)  $308,249 (3)  $308,249 (3) 

Health Coverage

 $44,000 (4)  $44,000 (4)  $   $44,000 (4)  $44,000 (4)  $44,000 (4)  $44,000 (4) 
 

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

 

Total

 $2,722,299   $2,416,271    $1,471,191    $2,040,909   $352,249   $2,404,160   $1,515,785  
 

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

 

(1)Represents the payment of 1.5 times the sum of Mr. Dampeer’s current base salary (the higher of calendar year 2014 and calendar year 2013, the two most recent calendar years), and the average of the annual cash incentive paid in 2012 and 2013 (the last two completed calendar years) as provided under the CIC Plan.
(2)Represents the aggregate value of all unvested stock options and performance-based RSUs vesting upon termination under the CIC Plan, based on the June 30, 2014 common stock closing price of $41.64 per share. All stock options vest upon termination without “cause” or for “good reason” if the termination occurs within two years after the change in control. If the termination occurs in the third year following a change in control, options that would have vested within one year after termination will vest. All performance-based RSUs that would have vested within two years after a termination without “cause” or for “good reason” will vest at 100% of target upon termination following a change in control if the termination occurs within two years following the change in control. All performance-based RSUs that have been earned (amount above assumes earned at target) but have not vested and that would have vested within one year of termination following a change in control will vest if the termination occurs in the third year following the change in control.
(3)Mr. Dampeer is 50% vested in his SERP benefits. Based on his age, Mr. Dampeer would commence receiving annual benefits at termination of employment that are reduced by an early retirement factor until he reaches the age of 65. The SERP benefits are not subject to a vesting requirement or early retirement reduction in the event of disability. Service credit and actuarial values are calculated as of June 30, 2014 (Broadridge SERP’s measurement date for the last fiscal year). Actuarial values are based on the RP-2000 white collar mortality table (projected to 2021) and a 4.64% discount rate.
(4)Mr. Dampeer will be eligible for executive retiree medical benefits under the Executive Retiree Health Insurance Plan upon termination of employment with the Company until he reaches age 65. Actuarial values are calculated as of June 30, 2014 (measurement date for the last fiscal year) and are based on the RP-2000 white collar mortality table (projected to 2021) and a 3.62% discount rate.
(5)Represents the payment of the average of the annual cash incentive paid in 2012 and 2013 (the last two completed calendar years).
(6)Represents the aggregate value of all unvested stock options and performance-based RSUs, based on the June 30, 2014 common stock closing price of $41.64 per share. All unvested stock options vest in full and unvested performance-based RSUs vest at target upon death or permanent disability.
(7)Represents the annual benefits payable to the spouse of the deceased participant under the Broadridge SERP. The spouse of a deceased participant is assumed to be the same age as the participant and is expected to commence receiving benefits at age 60.
(8)All unvested stock options and performance-based RSUs terminate upon voluntary termination or involuntary termination with cause.
(9)Represents salary continuation of 18 months following termination and a prorated annual cash incentive award assuming performance achievement at target as provided under the Officer Severance Plan.
(10)These awards would continue to vest for a period of time following the participant’s “retirement.” The original vesting dates would continue to apply to the vesting that occurs after retirement. For this purpose, “retirement” is defined as termination of employment for any reason other than “cause” for employees age 65 and over, and involuntary termination of employment without “cause” for employees age 60 and over. Employees between the ages of 60 and 64 who voluntarily terminate employment with the Company would not be eligible under these provisions. Based on his age, Mr. SchifelliteDampeer would not qualify for retirement treatment of his awards underif he were to voluntarily terminate employment or if the Company terminated his employment with “cause,” but he would qualify for retirement treatment of his awards if the Company involuntarily terminated his employment without “cause.”
(11)Represents the aggregate value of all stock options scheduled to vest over the three years following June 30, 2014 that Mr. Dampeer would be eligible to receive in the event of his “retirement,” in accordance with the definition described in footnote 10, based on the June 30, 2014 common stock closing price of $41.64 per share.
(12)Represents the aggregate value of performance-based RSUs at target that Mr. Dampeer would be eligible to receive in the event of his “retirement,” in accordance with the definition described in footnote 10. The number of performance-based RSUs earned would be determined at the end of the performance cycle. Therefore, the actual earned value on all grants is indeterminable on the termination date, and for this definition at this time.table it is assumed that the target number of performance-based RSUs is earned.

John Hogan

Payment Elements

 Change In Control  Death  Disability  Voluntary
Termination, or
Involuntary
Termination
With Cause
  Involuntary
Termination
Without Cause
  Retirement 
 Within Two Years
Following
  Between Two and
Three Years
Following
      

Base Salary Payment

 $1,080,000 (1)  $810,000 (7)  $  $  $   $500,000 (11)  $ 

Annual Cash Incentive Payment

 $1,609,500 (1)  $1,207,125 (7)  $  $  $   $940,170 (12)  $ 

Stock Options

 $3,396,807 (2)(3)  $3,396,807 (2)(3)  $3,412,970 (8)  $3,412,970 (8)  $(10)  $3,396,807 (2)(3)  $3,396,807 (2)(3) 

RSUs

 $1,549,154 (2)(4)  $1,549,154 (2)(4)  $1,969,322 (8)  $1,969,322 (8)  $(10)  $1,549,154 (2)(4)  $1,549,154 (2)(4) 

Broadridge SORP

 $3,603,881 (5)  $3,603,881 (5)  $1,911,521 (9)  $3,603,881 (5)  $3,603,881 (5)  $3,603,881 (5)  $3,603,881 (5) 

Health Coverage

 $7,000 (6)  $7,000 (6)  $   $7,000 (6)  $7,000 (6)  $7,000 (6)  $7,000 (6) 
 

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

 

Total

 $11,246,342    $10,573,967    $7,293,813   $8,993,173   $3,610,881   $9,997,012   $8,556,842  
 

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

 

(1)Represents the payment of two times the sum of Mr. Hogan’s fiscal year 2013 base salary (the higher of calendar year 2013 and calendar year 2014, the two most recent calendar years), and the average cash incentive paid in 2012 and 2013 (the last two completed calendar years) under Mr. Hogan’s Change in Control Enhancement Agreement.
(2)These awards would continue to vest for a period of time following the participant’s “retirement.” The original vesting dates would continue to apply to the vesting that occurs after retirement. For this purpose, “retirement” is defined as termination of employment for any reason other than “cause” for employees age 65 and over, and involuntary termination of employment without “cause” for employees age 60 and over. Employees between the ages of 60 and 64 who voluntarily terminate employment with the Company would not be eligible under these provisions. Based on his age, Mr. Hogan would not qualify for retirement treatment of his awards if he were to voluntarily terminate employment or if the Company terminated his employment with “cause,” but he would qualify for retirement treatment of his awards if the Company involuntarily terminated his employment without “cause.”
(3)Represents the aggregate value of all stock options scheduled to vest over the three years following June 30, 2014 that Mr. Hogan would be eligible to receive in the event of his “retirement,” in accordance with the definition described in footnote 2, based on the June 30, 2014 common stock closing price of $41.64 per share.
(4)Represents the aggregate value of performance-based RSUs at target that Mr. Hogan would be eligible to receive in the event of his “retirement,” in accordance with the definition described in footnote 2. The number of performance-based RSUs earned would be determined at the end of the performance cycle. Therefore, the actual earned value on all grants is indeterminable on the termination date, and for this table it is assumed that the target number of performance-based RSUs is earned.
(5)Mr. Hogan is 100% vested in his SORP benefits. Based on his age, Mr. Hogan would commence receiving annual benefits at termination of employment. Service credit and actuarial values are calculated as of June 30, 2014 (Broadridge SORP’s measurement date for the last fiscal year). Actuarial values are based on the RP-2000 white collar mortality table (projected to 2021) and a 4.51% discount rate.
(6)Although Mr. Hogan is no longer eligible due to his age, Mr. Hogan’s spouse will be eligible for executive retiree medical benefits under the Executive Retiree Health Insurance Plan until she reaches age 65. Actuarial values are calculated as of June 30, 2014 (measurement date for the last fiscal year) and are based on the RP-2000 white collar mortality table (projected to 2021) and a 3.62% discount rate.
(7)Represents the payment of 1.5 times the sum of Mr. Hogan’s fiscal year 2013 base salary (the higher of calendar year 2013 and calendar year 2014, the two most recent calendar years), and the average cash incentive paid in 2012 and 2013 (the last two completed calendar years) under Mr. Hogan’s Change in Control Enhancement Agreement.
(8)Represents the aggregate value of all unvested stock options and performance-based RSUs, based on the June 30, 2014 common stock closing price of $41.64 per share. All unvested stock options vest in full and performance-based RSUs vest at target upon death or permanent disability.
(9)Represents the annual benefits payable to the spouse of the deceased participant under the Broadridge SORP. The spouse of a deceased participant is assumed to be the same age as the participant and is expected to commence receiving benefits at age 60.
(10)All unvested stock options and performance-based RSUs terminate upon voluntary termination or involuntary termination with cause.
(11)Represents salary continuation as provided under the Management Severance Plan.
(12)Represents the annual cash incentive award earned under the MBO Bonus Plan.

Michael Liberatore

Payment Elements

  Change In Control  Death  Disability  Voluntary
Termination, or
Involuntary
Termination
With Cause
  Involuntary
Termination
Without Cause
  Retirement 
  Within Two Years
Following
  Between Two and
Three Years
Following
      

Base Salary Payment

  $265,593 (1)  $265,593    $  $  $   $265,593 (1)  $0 

Annual Cash Incentive Payment

  $212,973 (2)  $212,973 (2)  $  $  $   $212,973 (2)  $0 

Stock Options

  $(3)  $0(3)  $122,541 (4)  $122,541 (4)  $(3)  $0(3)  $0 

RSUs

  $(3)  $0(3)  $296,227 (4)  $296,227 (4)  $(3)  $0(3)  $0 
  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

 

Total

  $478,566   $478,566   $418,768   $418,768   $  $478,566   $0 
  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

 

(1)Represents salary continuation as provided under the Management Severance Plan.
(2)Represents the annual cash incentive award earned under the MBO Bonus Plan.
(3)All unvested stock options and performance- and time-based RSUs granted to non-executive officers terminate upon involuntary termination without cause, voluntary termination or involuntary termination with cause.
(4)Represents the aggregate value of all unvested stock options and performance-based RSUs, based on the June 30, 2014 common stock closing price of $41.64 per share. All unvested stock options vest in full and performance-based RSUs vest at target upon death or permanent disability.

REPORT OF THE AUDIT COMMITTEE

The Audit Committee acts under a written charter adopted and approved by the Board of Directors. The Audit Committee charter provides that its responsibilities and authorities include assisting the Board in overseeing: (i) the Company’s systems of internal controls regarding finance, accounting, legal and regulatory compliance; (ii) the Company’s auditing, accounting and financial reporting processes generally; (iii) the integrity of the Company’s financial statements and other financial information provided by the Company to its stockholders and the public; (iv) the Company’s compliance with legal and regulatory requirements; and (v) the performance of the Company’s Internal Audit Department and independent registered public accountants. The charter is available on the Company’s website atwww.broadridge.com under the heading “Investor Relations—Corporate Governance.”

As noted in the Corporate Governance section of this Proxy Statement, all of the members of the Audit Committee have been determined by the Board of Directors to be “independent”reports as defined by NYSE Listing Standards and the rules of the SEC applicable to audit committee requirements, and two of its members qualify as “audit committee financial experts” as defined in the applicable SEC rules.follows:

The Company’s management has the primary responsibility for the Company’s financial statements and the reporting process, including disclosure controls and the system of internal control over financial reporting. The Audit Committee, in its oversight role has:

 

reviewed and discussed the annual audited Consolidated Financial Statementsfinancial statements as of and for the fiscal year ended June 30, 20132014 with the Company’s management;

discussed with management its assessment of the effectiveness of the Company’s system of internal control over financial reporting;

 

  receiveddiscussed with the Company’s internal auditors and reviewed written disclosures and the statement from the independent registered public accountants the overall scope of, and plans for, their respective audits and has met with the internal auditors and independent registered public accountants, separately and together, with and without management present, to discuss the Company’s financial reporting process and internal accounting controls in addition to other matters required to be discussed by Auditing Standards No. 16, Communications with Audit Committees, as adopted by the Public Company Accounting Oversight Board (“PCAOBPCAOB”) regulations concerning independence;, as may be modified or supplemented;

 

received from the independent registered public accountants written disclosures and the letter regarding the independence of the independent registered public accountants required by the PCAOB, and has discussed with the independent registered accountants their independence from the Company and its management;

an established charter outlining the practices it follows. The Audit Committee’s charter is available on the Company’s website atwww.broadridge.com under the heading “Investor Relations—Corporate Governance;” and

procedures that require the pre-approval by the Audit Committee of all fees paid to, and all services performed by, the Company’s independent registered public accountants such auditor’s independenceaccountants. The Audit Committee approves the proposed services, including the nature, type and scope of service contemplated and the matters requiredrelated fees, to be discussed by Statement on Auditing Standards 61, “Communication with Audit Committees,” AICPA Professional Standards, Vol. 1, AU section 380, as amended, as adoptedrendered by the PCAOB in Rule 3200T;

met withfirm during the Chief Financial Officer, Corporate Controller, Treasurer,year. In addition, engagements may arise during the headcourse of Corporatethe year that are outside the scope of the initial services and fees approved by the Audit Committee. Any such additional engagements are approved by the General Counsel, selected key business and finance executives fromAudit Committee or by the businesses, and withAudit Committee Chair pursuant to authority delegated by the Audit Committee. For each category of proposed service, the independent registered public accountants inare required to confirm that the provision of such services does not impair their capacity as the Company’s independent auditors and as the primary Statement on Standards for Attestation Engagements No. 16—Reporting on Controls at a Service Organization—(SSAE 16) attestation service provider, among others. The Committee met with the independent registered public accountants both with and without management present;

reviewed with the independent registered public accountants their attestation and report on their assessment of the effectiveness of the Company’s internal control over financial reporting; and

considered other matters the Audit Committee deemed relevant and appropriate.

In addition, in the performance of its oversight duties and responsibilities, the Audit Committee also reviews the financial statements contained in the Company’s Annual Report on Form 10-K and Quarterly Reports on Form 10-Q with both management and the Company’s independent registered public accountants; reviews and discusses with management the Company’s quarterly earnings releases and earnings guidance; reviews periodic reports from management covering changes, if any, in accounting policies, procedures and disclosures, and the status of management’s assessment of the effectiveness of internal control over financial reportingindependence. Pursuant to ensure compliance with Section 404 of the Sarbanes-Oxley Act of 2002;2002, the fees and reviewsservices provided as noted in the table below were authorized and discusses with the Company’s

internal auditors and with its independent registered public accountants the overall scope and plans of their respective audits. In connection with the Company’s risk oversight process,approved by the Audit Committee reviews and discussesin compliance with management the Company’s major financial and certain compliance risk exposures and the steps management has taken to monitor and control such exposures (including management’s risk assessment and risk management policies). Please see the section entitled “The Board’s Role in Risk Oversight” of this Proxy Statement for more detail on the Audit Committee’s risk oversight role.

pre-approval procedures described herein.

Based on the Audit Committee’s review and discussions with management and the Company’s independent registered public accountants as described in this report, the Audit Committee recommended to the Board of Directors that the audited Consolidated Financial Statements as of and for the fiscal year ended June 30, 2013,2014, be included in the 20132014 Form 10-K.

Audit Committee of the Board of Directors

Richard J. Haviland,Chair

Robert N. Duelks

Sandra S. JaffeeStuart R. Levine

Maura A. Markus

Thomas J. Perna

Alan J. Weber

PROPOSAL 2—

PROPOSAL 3—RATIFICATION OF APPOINTMENT OF APPOINTMENT OF

INDEPENDENT REGISTERED PUBLIC ACCOUNTANTS

The Audit Committee of the Board of Directors is required by law and applicable NYSE rules to be directly responsible for the appointment, compensation, retention and retentionoversight of the work of the Company’s independent registered public accountants. The Audit Committee has appointed Deloitte & Touche LLP as the independent registered public accountants for the Company and its subsidiaries for the fiscal year ending June 30, 2015. In taking this action, the Audit Committee considered carefully the performance of Deloitte & Touche LLP in that capacity since its retention when we became an independent public company in 2007, its independence with respect to the services to be performed and its general reputation for adherence to professional auditing standards. The Audit Committee also confirms that the lead audit partner or the lead audit partner responsible for reviewing the audit for the Company’s independent registered public accountants has not performed audit services for the Company for more than five consecutive fiscal years. A new lead partner was designated in 2014. While stockholder

FEES FOR SERVICES PROVIDED BY INDEPENDENT REGISTERED PUBLIC ACCOUNTANTS

Set forth below are the fees paid by the Company to its independent registered public accountants, Deloitte & Touche LLP, for the fiscal periods indicated. The Audit Committee believes that the foregoing expenditures are compatible with maintaining the independence of the Company’s registered public accountants. The Audit Committee pre-approved all such audit and non-audit services performed by our independent registered public accountants during the fiscal year ended June 30, 2014.

   Years ended June 30, 
           2014                   2013         
   ($ in millions) 

Audit Fees (1)

  $4.3    $4.2  

Audit-Related Fees (2)

   3.2     3.0  

Tax Fees (3)

   0.6     0.3  

All Other Fees (4)

   0.2     —    
  

 

 

   

 

 

 

Total Fees

  $8.3    $7.5  
  

 

 

   

 

 

 

(1)Audit Fees include professional services and expenses with respect to the audit of the Company’s Consolidated Financial Statements included in the 2014 Form 10-K as well as the audit of the Company’s internal control over financial reporting, the reviews of financial statements included in its Quarterly Reports on Form 10-Q, and services in connection with statutory and regulatory filings (including those statutory audits performed on the Company’s operations located outside of the United States). The Audit Fees were slightly higher than the prior fiscal year as the increase in audit services due to the fiscal year 2014 acquisitions were partially offset by a decrease in fees associated with the Company’s regulatory filings.
(2)Audit-Related Fees include professional services with respect to reports on controls placed in operation and tests of operating effectiveness for the services the Company performs for its clients, and reviews of compliance with performance criteria established by the Company for the services the Company performs for its clients. The increase in Audit-Related Fees related to additional compliance related reviews.
(3)Tax Fees include general tax services such as a review and/or preparation of various income tax return filings and consulting services with respect to cross border transactions relating to the Company’s operations conducted outside of the United States. The increase in Tax Fees related to additional consulting services related to cross border transactions.
(4)All Other Fees include any fees not included in the Audit, Audit-Related, or Tax Fees categories. In fiscal year 2014, these fees included services related to research and training materials.

The Audit Committee believes that the continued retention of Deloitte & Touche LLP as our independent registered public accountants is in the best interest of the Company and our stockholders. Stockholder ratification is not required by the Company’s By-laws or otherwise, the Board of Directors is submitting the selection of Deloitte & Touche LLP to the stockholders for ratificationbut as parta matter of good corporate governance practices.practices,

the Board has decided to ascertain the position of the stockholders on the appointment at the Annual Meeting. If the stockholders fail to ratify the selection, the Audit Committee may but is not required to, reconsider whether to retain Deloitte & Touche LLP. Even if the selection is ratified, the Audit Committee in its discretion may direct the appointment of different independent registered public accountants at any time during the year if it determines that such a change would be in the best interest of the Company and itsour stockholders.

Fees Billed to the Company by Deloitte & Touche LLP During Fiscal Years Ended 2013 and 2012

Audit Fees.Audit fees (including expenses) billed to the Company by Deloitte & Touche LLP were $4,170,000 in fiscal year 2013 and $3,770,000 in fiscal year 2012. Audit fees include professional services with respect to the audit of the Company’s Consolidated Financial Statements included in the 2013 Form 10-K and review of financial statements included in its Quarterly Reports on Form 10-Q, services that are normally provided by Deloitte & Touche LLP in connection with statutory and regulatory filings performed by Deloitte & Touche LLP to comply with generally accepted auditing standards, as well as the fees for the audit of the Company’s internal control over financial reporting, as required by Section 404 of the Sarbanes-Oxley Act of 2002. Audit fees also included fees for statutory audits performed on the Company’s operations located outside the United States. The increase in audit fees was due to additional audit procedures related to the Company’s regulated entities and the associated regulatory filings.

Audit-Related Fees.Audit-related fees (including expenses) billed to the Company by Deloitte & Touche LLP were $2,989,000 in fiscal year 2013, and $2,977,000 in fiscal year 2012. For the fiscal years ended June 30, 2013 and June 30, 2012, audit-related fees include fees paid to Deloitte & Touche LLP for reports on controls placed in operation and tests of operating effectiveness for the services the Company performs for its clients referred to as SSAE 16 Service Organization Controls (SOC1) reports, and reviews of compliance with performance criteria established by the Company for the services the Company performs for its clients. The audit-related fees were consistent with the fees incurred in the prior fiscal year as there were no significant changes to the SSAE 16 SOC1 procedures or performance criteria compliance procedures assigned to Deloitte & Touche LLP.

Tax Fees.Tax fees (including expenses) billed to the Company by Deloitte & Touche LLP were $354,000 in fiscal year 2013, and $315,000 in fiscal year 2012. Tax fees include fees billed by Deloitte & Touche LLP for general tax services including review and/or preparation of various income tax return filings, and consulting services with respect to cross border transactions relating to the Company’s operations conducted outside the United States. The tax fees incurred in fiscal year 2013 were consistent with the fees incurred in the prior fiscal year as there were no significant changes to Deloitte & Touche LLP’s scope of work.

All Other Fees.For the fiscal years ended June 30, 2013 and June 30, 2012, there were no other services performed which are not described above.

The Audit Committee believes that the foregoing expenditures are compatible with maintaining the independence of the Company’s registered public accountants. The Audit Committee pre-approved all such audit and non-audit services by our independent registered public accountants during the fiscal year ended June 30, 2013.

The Audit Committee has adopted procedures for pre-approving all audit and permissible non-audit services provided by the independent registered public accountants. The Audit Committee will annually review and pre-approve the audit, review and attest services to be provided during the next audit cycle by the independent registered public accountants and may annually review and pre-approve permitted non-audit services to be provided during the next audit cycle by the independent registered public accountants. To the extent practicable, the Audit Committee will also review and approve a budget for such services. Services proposed to be provided by the independent registered public accountants that have not been pre-approved during the annual review and the fees for such proposed services must be pre-approved by the Audit Committee or its designated subcommittee. The Audit Committee periodically examines whether the fees for auditor services exceed estimates. All requests or applications for the independent registered public accountants to provide services to the Company shall be submitted to the Audit Committee or its designated subcommittee by the Chief Financial Officer or Corporate Controller and must address whether, in his or her view, the request or application is consistent with applicable laws, rules and regulations relating to auditor independence.

Representatives of Deloitte & Touche LLP are expected to be present at the 20132014 Annual Meeting, with an opportunity to make a statement should they choose to do so, and to be available to respond to questions, as appropriate.

Required Vote

The proposal to ratify the appointment of Deloitte & Touche LLP as independent registered public accountants will require the affirmative vote of a majority of the votes cast at the 20132014 Annual Meeting, in person or by proxy, and entitled to vote; provided that a quorum is present. Abstentions will be included in determining whether a quorum is present. In determining whether the proposal has received the requisite number of affirmative votes, abstentions will have no effect on the outcome of the vote. Pursuant to NYSE regulations, brokers have discretionary voting power with respect to this proposal.

RECOMMENDATION OF THE BOARD OF DIRECTORS

THE BOARD OF DIRECTORS RECOMMENDS A VOTE “FOR” THE PROPOSAL TO RATIFY THE

SELECTION OF DELOITTE & TOUCHE LLP AS THE COMPANY’S INDEPENDENT REGISTERED

PUBLIC ACCOUNTANTS TO AUDIT THE COMPANY’S CONSOLIDATED FINANCIAL

STATEMENTS FOR THE FISCAL YEAR ENDING JUNE 30, 20142015

PROPOSAL 3—APPROVAL OF THE AMENDMENT AND RESTATEMENT OF THE COMPANY’S 2007 OMNIBUS AWARD PLAN

The Board of Directors is requesting that stockholders vote in favor of our amended and restated 2007 Omnibus Award Plan, which is maintained for the benefit of eligible employees, directors and consultants of the Company and its affiliates. The 2007 Omnibus Award Plan was previously amended and restated by the Board of Directors and approved by our stockholders in 2008, and it was further amended and approved by our stockholders in 2009 and 2010.

Description of the Amendment and Restatement

The amended and restated 2007 Omnibus Award Plan was unanimously approved by the Board of Directors on August 1, 2013, subject to approval by our stockholders. As described in more detail below, the amendment and restatement provides for an increase in the aggregate number of shares of our Common Stock issuable under the 2007 Omnibus Award Plan. In addition, the amendment and restatement provides for a change in the methodology for determining the number of shares of our Common Stock available for issuance under the Plan, a change in the award limit applicable to individual participants to make it a cumulative three-year limit instead of an annual limit, an extension of the term of the 2007 Omnibus Award Plan to the tenth anniversary of approval of the amendment and restatement by the Board of Directors, a limit on the annual awards that may be made to non-employee directors, and makes certain other changes in the nature of clarifications.

The Board of Directors believes that approval of the amended and restated 2007 Omnibus Award Plan is in the best interests of the Company and the stockholders. The 2007 Omnibus Award Plan is an important component of our overall compensation program which allows us to link compensation of our employees to Company performance, align employee and stockholder interests, and enables our employees to build long-term stockholder value. If our stockholders do not approve the amended and restated 2007 Omnibus Award Plan, the 2007 Omnibus Award Plan will remain in effect with its current terms and conditions. However, the Board of Directors believes that the remaining share pool is not sufficient to meet the needs of the Company in that the Company would not be able to grant equity awards at the rate it believes to be desirable beyond its 2014 fiscal year if the amended and restated 2007 Omnibus Award Plan is not approved.

The amendment and restatement provides for an increase of 6,650,000 in the aggregate number of shares available for grant under the 2007 Omnibus Award Plan, from 2,414,596 shares that were available for grant on June 30, 2013. This increase in the aggregate share limit represents approximately 5.6% of the outstanding shares of Common Stock of the Company as of the Record Date of September 23, 2013. The Board of Directors currently believes that this share increase should result in an adequate number of shares for future awards for approximately three years.

Prior to approval of this amendment and restatement by the Board of Directors, the 2007 Omnibus Award Plan was structured to provide share limits based on the types of awards to be granted. It provided that of the 34.2 million shares of Common Stock authorized for grant, only 11.9 million could be used for awards that are Whole Share Awards. “Whole Share Awards” are awards such as restricted stock, RSUs and stock bonus awards and do not include “Appreciation Awards” such as stock options and SARs that are based on the appreciation in the value of the Common Stock. As of June 30, 2013, there were 2,414,596 shares available for grant under the 2007 Omnibus Award Plan, all of which could be granted as either Whole Share Awards or Appreciation Awards. The sub-limit was, therefore, no longer applicable in practice. As recommended by Cook & Co., the Board of Directors amended the 2007 Omnibus Award Plan, subject to stockholder approval, to provide for a “full-value” share pool structure under which all of the shares will be available for grants of any type of award under the 2007 Omnibus Award Plan and each share awarded will count as one share against the available pool. The full-value share pool structure results in lower potential stockholder dilution and is a less complex structure to administer.

In addition to increasing the number of shares available for issuance under the 2007 Omnibus Award Plan and changing the structure of the available share pool, the Board of Directors also approved the following amendments:

The methodology for counting shares against the aggregate 2007 Omnibus Award Plan limit was amended, so that only shares actually issued upon the exercise or vesting of awards will be counted against the aggregate share limit. As amended, any shares withheld by the Company to fund the exercise price of an option or withholding taxes upon the vesting or exercise of awards would not count against the aggregate amount of shares available for grant under the 2007 Omnibus Award Plan.

The equity award limit applicable to individual participants for purposes of Section 162(m) of the Code was amended to provide for a cumulative limit of 2,550,000 shares per three consecutive calendar years, which replaced the current annual limit of 850,000 shares with carryforwards for unused shares. The cumulative three-year limit is three times the prior annual limit, and there will be no carryforward of unused shares.

A new dollar value limit of $500,000 per calendar year was adopted for awards granted to non-employee directors.

The term of the 2007 Omnibus Award Plan was extended until the tenth anniversary of the adoption of the amended and restated Plan by the Board of Directors.

Also, the Board approved certain amendments to the 2007 Omnibus Award Plan for the purpose of clarifying its terms, including, for example, more clearly providing that no dividends or dividend equivalents are paid by the Company prior to the vesting of performance-based awards and that if awards are granted by the Company in substitution for outstanding compensatory awards of an acquired business, the substitute awards will not count against the aggregate amount of shares available for grant under the 2007 Omnibus Award Plan.

Omnibus Plan Annual Share Usage

The annual share usage under the Company’s equity compensation program for the last three fiscal years was as follows:

      Fiscal Year
2013
  Fiscal Year
2012
  Fiscal Year
2011
 
A  Stock Options Granted   1,497,855    1,057,538    284,150  
B  Restricted Stock Units Granted*   1,340,750    1,485,244    1,403,257  
    

 

 

  

 

 

  

 

 

 
C  Total Shares Granted (A + B)   2,838,605    2,542,782    1,687,407  
D  Basic Weighted Average Common Shares Outstanding   121,900,000    124,100,000    124,800,000  
E  Annual Share Usage (C / D)   2.3  2.0  1.4

*Time- and performance-based

Description of the 2007 Omnibus Award Plan

The following description of the 2007 Omnibus Award Plan, as amended and restated, is a summary of its principal provisions and is qualified in its entirety by reference to the 2007 Omnibus Award Plan attached hereto as Appendix A.

Purpose. The purpose of the 2007 Omnibus Award Plan is to provide a means through which the Company and its affiliates may attract able persons to enter and remain in the employ of, or other service with, the Company and its affiliates and to provide a means whereby employees, directors and consultants of the Company

and its affiliates can acquire and maintain Common Stock ownership, or be paid incentive compensation measured by reference to the value of Common Stock, thereby strengthening their commitment to the welfare of the Company and its affiliates and promoting an identity of interest between stockholders and these persons.

Administration. The 2007 Omnibus Award Plan is administered and interpreted by the Compensation Committee of the Board or such other committee of at least two people as the Board may appoint (the “Committee”) or, if no such committee has been appointed by the Board, the Board. Currently, the Compensation Committee of the Board serves as the Committee under the 2007 Omnibus Award Plan. Unless the Board is acting as the Committee or the Board specifically determines otherwise, each member of the Committee is intended to be, to the extent applicable, a (i) a “non-employee director” within the meaning of Rule 16b-3 under the Exchange Act, or a person meeting any similar requirement under any successor rule or regulation; (ii) an “outside director” within the meaning of Section 162(m) of the Code, and the Treasury regulations promulgated thereunder; and (iii) an “independent director” under the NYSE rules. However, the fact that a Committee member shall fail to qualify as a “non-employee director” or an “outside director” under Rule 16b-3 or Section 162(m), respectively, will not invalidate any award granted by the Committee if the award is otherwise validly granted under the 2007 Omnibus Award Plan.

The Committee has the full authority to select those individuals eligible to receive awards, to determine the type of awards to be granted, the number of shares of Common Stock to be covered by each award, the terms and conditions of each award and to make any other determination and take any other action that the Committee deems necessary or desirable for the administration of the 2007 Omnibus Award Plan. The terms and conditions of individual awards are set forth in written agreements that are consistent with the terms of the 2007 Omnibus Award Plan.

Shares Subject to the 2007 Omnibus Award Plan. The maximum number of shares of Common Stock in respect of which awards may be granted under the 2007 Omnibus Award Plan on or after November 14, 2013 (the “Effective Date”) is 9,064,596 shares of Common Stock, less the number of shares in respect of awards granted after June 30, 2013 and before the Effective Date. If awards granted under the 2007 Omnibus Award Plan expire, terminate or are canceled for any reason after June 30, 2013 or to the extent awards are cash-settled after June 30, 2013, the shares covered by such awards will again be available under the 2007 Omnibus Award Plan.

To the extent that, after June 30, 2013 (i) any award granted under the 2007 Omnibus Award Plan is exercised through the tendering of shares or by the withholding of shares by the Company, or (ii) any shares subject to an award are withheld to satisfy any tax withholding obligation, then in each such case, the shares so tendered or withheld will again become available for future awards under the 2007 Omnibus Award Plan. In addition, each SAR exercised after June 30, 2013 will count against the aggregate maximum limit based on the number of shares issued in settlement of the SAR.

The maximum number of shares of Common Stock subject to stock options or SARs or restricted stock, RSUs or stock bonus awards that are performance compensation awards that may, in the aggregate, be granted to any participant during any period of three consecutive calendar years is 2,550,000 shares. The maximum amount that can be paid in any calendar year to any participant pursuant to a cash bonus award or phantom stock award is $3,000,000. There are no individual share limitations with respect to restricted stock, RSUs, phantom stock awards, or stock bonus awards that are not intended to comply with the requirements of Section 162(m) of the Code.

No more than $500,000 may be granted in awards under the 2007 Omnibus Award Plan during any calendar year to a director (based on the Fair Market Value of the shares underlying the award as of the applicable grant date in the case of restricted stock, RSUs, phantom stock awards or stock bonus awards, and based on the applicable grant date fair value for accounting purposes in the case of options or SARs).

The 2007 Omnibus Award Plan requires that the Committee appropriately adjust the individual maximum share limitations, the aggregate number of shares of Common Stock available for the grant of awards and the number, price or kind of stock or other consideration subject to an award to reflect any change in the outstanding stock or in the Company’s capital structure by reason of certain corporate transactions or events or in applicable laws or circumstances which results in any substantial dilution or enlargement of a participant’s rights.

Eligibility.Participation in the 2007 Omnibus Award Plan is limited to eligible employees, directors and consultants of the Company and its affiliates who have entered into an award agreement or who have received written notification that they have been designated to participate in the 2007 Omnibus Award Plan by the Committee.

Types of Awards. The 2007 Omnibus Award Plan provides for the grant of any or all of the following types of awards: (i) stock options, including incentive stock options (only to eligible employees) and non-qualified stock options; (ii) SARs; (iii) restricted stock and RSUs; (iv) phantom stock awards; (v) stock bonus awards; and (vi) performance compensation awards.

Stock Options. The Committee may grant non-qualified stock options and incentive stock options (only to eligible employees) to purchase shares of our Common Stock. The Committee will determine the number of shares subject to the option, the term of the option (which shall not exceed 10 years or five years in the case of an incentive stock option granted to a 10% stockholder), the exercise price, the vesting schedule (if any) and other material terms of each option. Except in the case of Substitution Awards, no stock option may have an exercise price less than the “fair market value” (as defined in the 2007 Omnibus Award Plan) of the Common Stock at the time of grant (or, in the case of an incentive stock option granted to a 10% stockholder, 110% of such share’s fair market value). Also, without stockholder approval, the Committee may not reprice stock options.

Options will be exercisable at such time or times and subject to such terms and conditions as determined by the Committee at grant. The exercise price upon exercise may be paid: (i) in cash, check, cash equivalent or shares of Common Stock; (ii) in the discretion of the Committee and to the extent permitted by law, in other property having a fair market value on the exercise date equal to the exercise price, by means of “net exercise” or through the delivery of irrevocable instructions to a stockbroker to deliver the Company an amount equal to the exercise price; or (iii) by such other method as the Committee may allow.

SARs. The Committee may grant SARs either in connection with a stock option (a “Tandem SAR”) or independent of a stock option (a “Non-Tandem SAR”). An SAR is a right to receive a payment in Common Stock, equal in value to the excess, if any, of the fair market value of one share of Common Stock on the date of exercise over the strike price. Except in the case of Substitution Awards, the strike price per share covered by an SAR will be the per share exercise price of the related stock option in the case of a Tandem SAR and will be not less than the per share fair market value of Common Stock on the date of the grant in the case of a Non-Tandem SAR. Also, without stockholder approval, the Committee may not reprice SARs.

Restricted Stock and RSUs. The Committee may award shares of restricted stock and RSUs. Upon the award of restricted stock, the recipient has certain rights of a stockholder with respect to the shares, including, without limitation, the right to vote such shares and, subject to and conditioned upon the full vesting of the shares of restricted stock, the right to tender such shares, subject to the conditions and restrictions generally applicable to restricted stock or specifically set forth in the recipient’s restricted stock agreement. An RSU represents the right to receive one share of Common Stock for each vested RSU, provided that, if so provided in the applicable award agreement, the Committee may, in its sole discretion, elect to pay cash or part cash and part shares for vested RSUs.

Recipients of restricted stock and RSUs are required to enter into an award agreement with the Company which states the restrictions to which the shares are subject, which may include satisfaction of pre-established performance goals, and the criteria or date or dates on which such restrictions will lapse. The Committee may

remove any or all of such restrictions at any time. If the grant of restricted stock or RSUs or the lapse of the relevant restrictions is based on the attainment of performance goals, the Committee will establish for each participant the length of the performance period and the applicable performance goals and formulae within 90 days after the beginning of a performance period (or, if longer or shorter, within the maximum period allowed under Section 162(m) of the Code). The performance goals for performance-based restricted stock and RSUs will be based on one or more of the objective criteria set forth in the 2007 Omnibus Award Plan and discussed in general below.

Stock Bonus Awards; Phantom Stock Awards. The Committee may issue unrestricted stock or other awards denominated in stock, alone or in tandem with other awards under the 2007 Omnibus Award Plan, and the Committee may also issue phantom stock awards. The Committee will determine the terms and conditions of any such awards, which may include the achievement of certain performance goals for purposes of compliance with Section 162(m) of the Code. The performance goals for such stock bonus awards will be based on one or more of the objective criteria set forth in the 2007 Omnibus Award Plan and discussed in general below.

Performance Compensation Awards. The Committee, at the time of grant, may designate an award (other than stock options and SARs granted with an exercise price or grant price, as the case may be, equal to or greater than the fair market value per share of Common Stock on the date of grant) as a performance compensation award in order to qualify such award as “performance-based compensation” under Section 162(m) of the Code. In addition, the Committee may make an award of a cash bonus and designate such award as “performance-based compensation” under Section 162(m) of the Code. The grant of a performance compensation award will specify one or more performance goals to be met within a specified period determined by the Committee at the time of grant. The performance goals for performance compensation awards will be based on one or more of the objective criteria set forth in the 2007 Omnibus Award Plan and discussed in general below. A participant is eligible to receive payment in respect of a performance compensation award if, at the end of the performance period, the recipient has achieved the specified performance goals and the award has been earned in accordance with the performance formula. To the extent earned, the performance compensation award will be paid to the participant at the time and in the manner determined by the Committee in cash, shares of our Common Stock or a combination thereof.

Performance Goals.If the awards are intended to comply with Section 162(m) of the Code, the performance goals will be based on one or more of the following criteria as they relate to Company-wide objectives or those of an affiliate, a subsidiary, division, department or function of the Company or an affiliate: (i) earnings per share; (ii) stock price; (iii) stockholder return; (iv) return on investment; (v) return on capital; (vi) earnings before interest, taxes, depreciation and/or amortization; (vii) income before taxes and extraordinary items; (viii) gross or net profits; (ix) gross or net revenues; (x) net earnings or net income (before or after taxes); (xi) operating income; (xii) operating profit or net operating profit (before or after taxes); (xiii) return measures; (xiv) cash flow; (xv) gross or operating margins; (xvi) fair market value of the shares of the Company’s Common Stock; (xvii) the growth in the value of an investment in the Company’s Common Stock assuming the reinvestment of dividends; (xviii) productivity ratios; (xix) expense targets; (xx) margins; (xxi) operating efficiency; (xxii) objective measures of customer satisfaction; (xxiii) cost reductions or savings; (xxiv) market share; (xxv) working capital targets; (xxvi) measures of economic value added; (xxvii) sales; (xxviii) enterprise value; (xxix) client retention; (xxx) competitive market metrics; (xxxi) employee retention; (xxxii) timely completion of new product rollouts; or (xxxiii) any combination of the foregoing.

The foregoing performance criteria may be measured on an absolute basis or relative to a pre-established target, to previous years’ results or to a designated comparison group.

To the extent permitted by law, the Committee may also adjust or modify the calculation of a performance goal for a specified performance period in order to prevent the dilution or enlargement of the participant’s rights based on certain events specified in the 2007 Omnibus Award Plan, including for example, extraordinary, non-recurring items.

No Dividends or Dividend Equivalents on Unvested Performance Awards.Notwithstanding any provision of the 2007 Omnibus Award Plan to the contrary, no dividends or dividend equivalents shall be paid with respect to awards that vest contingent on achievement of performance conditions prior to the vesting of such awards.

Change in Control. In the event of a “change in control” (as defined in the 2007 Omnibus Award Plan), unvested awards under the 2007 Omnibus Award Plan do not automatically vest. However, the Committee may provide in an award agreement that upon a “change in control” (as defined in the 2007 Omnibus Award Plan): (i) all stock options and SARs will become immediately exercisable with respect to 100% of the shares subject to the stock options or SARs and/or the restricted period will expire immediately with respect to 100% of shares of restricted stock or RSUs (including the waiver of any performance goals); and (ii) all incomplete performance periods will end on the date of a change in control and the Committee will determine the extent to which the performance goals have been met and will cause the payment of awards based on the participant’s actual achievement of the performance goals through such date and the settlement of previously deferred awards in a manner that complies with Section 409A of the Code. In addition, the Committee may, with 10 days’ advance notice, cancel outstanding awards in exchange for a payment in cash, stock or a combination thereof, or cancel awards without payment if the price per share of Common Stock received by stockholders in connection with the change in control is less than the fair market value of the award on the grant date.

Transferability. Although awards will generally be nontransferable (except by will or the laws of descent and distribution), the Committee may permit awards (other than incentive stock options) to be transferred to certain permitted transferees set forth in the 2007 Omnibus Award Plan, subject to certain conditions.

Amendment and Termination. The Board may amend, alter, suspend, discontinue or terminate the 2007 Omnibus Award Plan or any portion thereof at any time, except that no such amendment, alteration, suspension, discontinuance or termination may: (i) impair the rights of any participant without the participant’s consent; or (ii) be made without stockholder approval to the extent such approval is necessary to comply with any tax or regulatory requirement applicable to the 2007 Omnibus Award Plan. Awards under the 2007 Omnibus Award Plan may not be made on or after August 1, 2023 provided that administration of the 2007 Omnibus Award Plan will continue in effect until all matters relating to awards previously granted have been settled. Awards (other than stock options and SARs) that are intended to be “performance-based” under Section 162(m) of the Code will not be made after the fifth anniversary of the date of the last stockholder approval of the performance goals in the 2007 Omnibus Award Plan (i.e., November 14, 2018) unless the performance goals are reapproved no later than the first stockholder meeting that occurs in the fifth year following the year of such stockholder approval.

Prohibition on Repricing.The Committee may not reprice stock options or SARs or cancel stock options or SARs for cash without stockholder approval.

Market Price of Shares.The per share closing price of the Common Stock on June 30, 2013 was $26.58.

Certain U.S. Federal Income Tax Consequences

The rules concerning the federal income tax consequences with respect to stock options granted pursuant to the 2007 Omnibus Award Plan are highly technical. In addition, the applicable statutory provisions are subject to change and their application may vary in individual circumstances. Therefore, the following is designed to provide a general understanding of the federal income tax consequences; it does not set forth any state or local income tax or estate tax consequences that may be applicable.

Incentive Stock Options. Options granted under the 2007 Omnibus Award Plan may be incentive stock options as defined in the Code, provided that such options satisfy the requirements under the Code. In general, neither the grant nor the exercise of an incentive stock option will result in taxable income to the optionee or a deduction to us. The sale of Common Stock received pursuant to the exercise of an option which satisfied all the requirements of an incentive stock option, as well as the holding period requirement described below, will result

in a long-term capital gain or loss to the optionee equal to the difference between the amount realized on the sale and the exercise price and will not result in a tax deduction to us. To receive incentive stock option treatment, the optionee must not dispose of the Common Stock purchased pursuant to the exercise of an option either (i) within two years after the option is granted; or (ii) within one year after the date of exercise.

If all requirements for incentive stock option treatment other than the holding period rules are satisfied, the recognition of income by the optionee is deferred until disposition of the Common Stock, but, in general, any gain (in an amount equal to the lesser of (i) the fair market value of the Common Stock on the date of exercise minus the exercise price; or (ii) the amount realized on the disposition minus the exercise price) is treated as ordinary income. Any remaining gain is treated as long-term or short-term capital gain depending on the optionee’s holding period for the disposed stock. We generally will be entitled to a deduction at that time equal to the amount of ordinary income realized by the optionee.

The 2007 Omnibus Award Plan provides that an optionee may pay for Common Stock received upon the exercise of an option (including an incentive stock option) with other shares of Common Stock. In general, an optionee’s transfer of stock acquired pursuant to the exercise of an incentive stock option, to acquire other stock in connection with the exercise of an incentive stock option, may result in ordinary income if the transferred stock has not met the minimum statutory holding period necessary for favorable tax treatment as an incentive stock option. For example, if an optionee exercises an incentive stock option and uses the stock so acquired to exercise another incentive stock option within the two-year or one-year holding periods discussed above, the optionee may realize ordinary income under the rules summarized above.

Non-Qualified Stock Options. An optionee will realize no taxable income at the time he or she is granted a non-qualified stock option. Such conclusion is predicated on the assumption that, under existing U.S. Treasury Department regulations, a non-qualified stock option, at the time of its grant, has no readily ascertainable fair market value. Ordinary income will be realized when a non-qualified stock option is exercised, provided the Common Stock issued is not restricted stock. The amount of such income will be equal to the excess of the fair market value on the exercise date of the shares of Common Stock issued to an optionee over the exercise price. The optionee’s holding period with respect to the shares acquired will begin on the date of exercise.

The tax basis of the stock acquired upon the exercise of any option will be equal to the sum of (i) the exercise price of such option and (ii) the amount included in income with respect to such option. Any gain or loss on a subsequent sale of the stock will be either a long-term or short-term capital gain or loss, depending on the optionee’s holding period for the stock disposed of. If the Common Stock issued is restricted stock, different rules may apply. Subject to the limitations under Sections 162(m) and 280G of the Code (as described below), we generally will be entitled to a deduction for federal income tax purposes at the same time and in the same amount as the optionee is considered to have realized ordinary income in connection with the exercise of the option.

Certain Other Tax Issues. In addition, (i) any of our officers subject to Section 16(b) liability may be subject to special rules regarding the income tax consequences concerning their awards; (ii) any entitlement to a tax deduction on our part is subject to the applicable federal tax rules (including, without limitation, Section 162(m) of the Code regarding the $1 million limitation on deductible compensation); (iii) in the event that the exercisability or vesting of any award is accelerated because of a change in control, payments relating to the awards (or a portion thereof), either alone or together with certain other payments, may constitute parachute payments under Section 280G of the Code, which excess amounts may be subject to excise taxes and may be nondeductible by us; and (iv) the exercise of an incentive stock option may have implications in the computation of alternative minimum taxable income.

In general, Section 162(m) of the Code denies a publicly-held corporation a deduction for federal income tax purposes for compensation in excess of $1 million per year per person to its chief executive officer and certain of its other named executive officers (other than its chief financial officer), subject to certain exceptions. Options and SARs will generally qualify under one of these exceptions if they are granted under a plan that states the maximum

number of shares with respect to which options and SARs may be granted to any employee during a specified period, and the plan under which the options and SARs are granted is approved by stockholders and is administered by a compensation committee comprised of outside directors. The 2007 Omnibus Award Plan is intended to satisfy these requirements with respect to options, SARs and certain performance awards. Depending on the structure of an award, awards of restricted stock, RSUs and certain other awards under the 2007 Omnibus Award Plan may not satisfy the exception for performance-based compensation under Section 162(m) of the Code.

The 2007 Omnibus Award Plan is not subject to any of the requirements of the Employee Retirement Income Security Act of 1974, as amended. The 2007 Omnibus Award Plan is not, nor is it intended to be, qualified under Section 401(a) of the Code.

New 2007 Omnibus Award Plan Benefits

During the fiscal year ended June 30, 2013, the following awards were granted under the 2007 Omnibus Award Plan to Named Executive Officers serving at June 30, 2013, all executive officers as a group, non-employee directors as a group, and all other employees, respectively:

Name and Position

  Number of
Shares
Underlying
Options/SARs
   Weighted-
Average
Exercise Price of
Options/SARs
   Number of
Shares Underlying
Restricted Stock,
RSUs or Performance
Compensation
Awards
 

Richard J. Daly

    CEO

   321,493    $22.27     55,334  

Dan Sheldon

    Corporate Vice President and CFO

   77,158    $22.27     13,280  

John Hogan

    President

   157,532    $22.27     27,113  

Timothy C. Gokey

    Corporate Senior Vice President and COO

   115,738    $22.27     19,920  

Robert Schifellite

    Corporate Senior Vice President, Investor

    Communication Solutions

   90,018    $22.27     15,493  

All Executive Officers as a Group

   1,103,122    $22.28     178,135  

Non-Employee Directors as a Group

   101,445    $23.00     21,857  

Non-Executive Officer Employees as a Group

   293,288    $23.22     1,140,758  

Future Plan Awards.The terms and number of options or other awards to be granted in the future under the 2007 Omnibus Award Plan are to be determined in the discretion of the Compensation Committee. Since no such determinations regarding awards or grants have yet been made, the benefits or amounts that will be received by or allocated to the Company’s Named Executive Officers, executive officers as a group, non-employee directors as a group, and all other employees cannot be determined at this time.

Required Vote

The affirmative vote of a majority of votes cast at the 2013 Annual Meeting, in person or by proxy, and entitled to be voted on this proposal at the Meeting is required for approval of the proposal; provided that a quorum is present. Abstentions and broker non-votes will be included in determining whether there is a quorum. In determining whether the proposal has received the requisite number of affirmative votes, abstentions will have no effect on the outcome of the vote. Pursuant to NYSE regulations, brokers do not have discretionary voting power with respect to this proposal, and broker non-votes will have no effect on the outcome of the vote.

RECOMMENDATION OF THE BOARD OF DIRECTORS

THE BOARD OF DIRECTORS RECOMMENDS A VOTE “FOR” THE APPROVAL OF

THE AMENDMENT AND RESTATEMENT OF THE COMPANY’S 2007 OMNIBUS AWARD PLAN.

Equity Compensation Plan Information

The following table sets forth, as of June 30, 2013, certain information related to the Company’s equity compensation plans.

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)

   10,985,482 (2)  $20.39     2,414,596 (3) 

Equity compensation plansnot approved by security holders

   —      —       —    

Total

   10,985,482   $20.39     2,414,596  

(1)The 2007 Omnibus Award Plan.
(2)This amount consists of stock options which have an average remaining term as of June 30, 2013 of 5.41 years. This amount does not include outstanding unvested Whole Share Awards of: (i) 2,086,834 time-based RSUs; and (ii) 572,823 performance-based RSUs.
(3)These shares can be issued as stock options, SARs, restricted stock, RSUs, or Stock Bonus Awards under the 2007 Omnibus Award Plan.

PROPOSAL 4—ADVISORY VOTE ON EXECUTIVE COMPENSATION (THE SAY ON PAY VOTE)

We recognize the interest the Company’s stockholders have in the Company’s executive compensation policies and practices. In recognition of that interest and in accordance with the requirements of the SEC rules and the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (the “Dodd-Frank Act”), this proposal, commonly known as a “say on pay” proposal, provides the Company’s stockholders with the opportunity to cast an annual advisory vote on the compensation of the Company’s Named Executive Officers, as disclosed pursuant to the SEC’s compensation disclosure rules, including the discussion of the Company’s compensation program and philosophy and the compensation tables of this Proxy Statement.

At the 2012 annual meeting of stockholders, approximately 95% of the votes cast on the Say on Pay Proposal were voted in favor of the proposal. The Committee discussed the results of this advisory vote in connection with its review of compensation decisions.

As described in more detail beginning on page 26 of this Proxy Statement under the heading “Executive Compensation—Compensation Discussion and Analysis,” the Company has adopted an executive compensation program that reflects the Company’s philosophy that executive compensation should be structured so as to align each executive’s interests with the interests of our stockholders. Provided below are a few highlights of our performance and our executive compensation policies and practices in 2013.

Our goal is to position target compensation, on average, at the median of the external market for the Named Executive Officers. On an individual basis, target compensation for each Named Executive Officer may be set above or below median based on a variety of factors including sustained performance over time, readiness for promotion to a higher level, and skill set and experience relative to external market counterparts. Actual compensation varies above or below the target level based on the degree to which specific performance goals are attained in the variable incentive plans, changes in stock value over time, and the individual performance of each executive.

The mix of compensation elements for the Named Executive Officers, and particularly the CEO, is more heavily weighted towards variable, performance-based compensation than for the balance of the Company’s executive officers. This is intended to ensure that the executives who are most responsible for overall performance and changes in stockholder value are held most accountable for results. For example, approximately 84% of our CEO’s, and approximately 73% of our other Named Executive Officers’, total fiscal year 2013 compensation is at risk and tied primarily to the long-term growth and profitability of the Company.

In fiscal year 2013, we reported strong operating results with solid revenue growth of 6% and record earnings per share performance. In line with the improvements in the Company’s overall financial performance in fiscal year 2013 compared to fiscal year 2012 and our strong results versus budgeted goals, the total direct compensation of the Named Executive Officers increased, primarily due to an increase in their annual cash incentive award payments. The annual cash incentive payments for the Named Executive Officers ranged from 112.1% to 120.8% of their targets, as compared to 92.8% to 115.7% of their targets in fiscal year 2012. In addition, 100% of performance-based RSU target awards granted in early fiscal year 2012 (which are based on performance over a two-year period) were earned at the end of fiscal year 2013, up from 70% earned at the end of fiscal year 2012. In summary, the Compensation Committee concluded that fiscal year 2013 compensation was well aligned with our performance for the year and that the connection between pay and performance is strong.

With the assistance of its independent compensation consultant, Cook & Co., the Compensation Committee has reviewed our compensation programs for all Broadridge employees and has concluded that they do not create risks that are reasonably likely to have a material adverse effect on the Company.

The Company has the following governance and compensation policies and practices in place to ensure that we meet best practices in corporate governance:

All of our Named Executive Officers are subject to a clawback policy that requires reimbursement of any executive officer bonus, incentive or equity-based compensation that is paid, awarded or vests if and to the extent that the payment, grant, or vesting was predicated upon the achievement of financial results that were subsequently the subject of a financial restatement due to material noncompliance with financial reporting requirements by the Company, and a lower payment, award, or vesting would have occurred based upon the restated financial results.

All of our Named Executive Officers are subject to share ownership guidelines including stock retention and holding period guidelines that provide that all of our Named Executive Officers retain 50% of the net profit shares they receive as compensation. These net profit shares must be held indefinitely if the executive officer has not met the stock ownership guideline and must be held for a minimum of one year if the executive officer has met the ownership guideline.

All of our Named Executive Officers are prohibited from engaging in hedging activities with respect to their Broadridge Common Stock.

The stockholder vote on this proposal is not intended to address any specific element of compensation, but rather the overall compensation of our Named Executive Officers. Pursuant to the Dodd-Frank Act, this vote is advisory and will not be binding on the Company. However, the Board of Directors and the Compensation Committee will review and consider the voting results when evaluating future compensation decisions relating to our Named Executive Officers.

We request that stockholders approve, on an advisory basis, the compensation of our Named Executive Officers, as disclosed in the Proxy Statement, including the Compensation Discussion and Analysis, related compensation tables and disclosures, pursuant to the compensation disclosure requirements of the SEC.

Required Vote

The affirmative vote of a majority of votes cast at the 2013 Annual Meeting, in person or by proxy, and entitled to be voted on this proposal at the Meeting is required for advisory approval of the proposal; provided that a quorum is present. Abstentions and broker non-votes will be included in determining whether there is a quorum. In determining whether the proposal has received the requisite number of affirmative votes, abstentions will have no effect on the outcome of the vote. Pursuant to NYSE regulations, brokers do not have discretionary voting power with respect to this proposal, and broker non-votes will have no effect on the outcome of the vote.

RECOMMENDATION OF THE BOARD OF DIRECTORS

THE BOARD OF DIRECTORS RECOMMENDS A VOTE “FOR” THE APPROVAL OF THE

COMPENSATION OF OUR NAMED EXECUTIVE OFFICERS AS DISCLOSED IN THIS PROXY

STATEMENT.

OTHER MATTERS

Management of the Company is not aware of other matters to be presented for action at the 2013 Annual Meeting. However, if other matters are presented, it is the intention of the persons designated as the Company’s proxies to vote in accordance with their judgment on such matters.

SECTION 16(a) BENEFICIAL OWNERSHIP COMPLIANCE

Section 16(a) of the Exchange Act requires the Company’s executive officers, directors and persons who own more than 10 percent of the Common Stock to file initial reports of ownership and changes in ownership with the SEC. To the Company’s knowledge, with respect to the fiscal year ended June 30, 2013, all applicable filings were timely made, except that Maryjo Charbonnier, Lyell Dampeer and Timothy C. Gokey failed to file Forms 4 reflecting the acquisition of, in the aggregate, 53 shares, 21 shares and 165 shares, respectively, that were inadvertently reinvested as Common Stock by the Company’s plan administrator on three dates in 2011 and 2012 for Ms. Charbonnier and Mr. Gokey, and in July 2013 for Mr. Dampeer. Ms. Charbonnier, Mr. Dampeer and Mr. Gokey have subsequently reported the transactions on Forms 4 filed with the SEC on September 26, 2013.

REQUIREMENTS FOR SUBMISSION OF PROXY PROPOSALS, NOMINATION OF DIRECTORS

AND OTHER BUSINESS OF STOCKHOLDERS

Under SEC rules, if a stockholder wants to include a proposal in our proxy statement and form of proxy for the Company’s 20142015 annual meeting of stockholders, our Secretary must receive the proposal at our principal executive offices located at 1981 Marcus Avenue, Lake Success, New York 11042 no later than June 6, 2014.5, 2015. Any such proposal should comply with the requirements of Rule 14a-8 promulgated under the Exchange Act.

Under Section 2.12 of the Company’s By-laws, and as SEC rules permit, stockholders must follow certain procedures to nominate a person for election as a director at an annual or special meeting of stockholders, or to introduce an item of business at an annual meeting of stockholders. Under these procedures, stockholders must submit the proposed nominee or item of business by delivering a notice to the Secretary at the Company’s executive office. We must receive the notice as follows:

 

We must receive notice of a stockholder’s intention to introduce a nomination or proposed item of business for an annual meeting not less than 60 days nor more than 130 days before the first anniversary of the prior year’s meeting. Assuming that the 20132014 Annual Meeting is held on schedule, we must receive notice pertaining to the 20142015 annual meeting of stockholders no earlier than July 7, 20146, 2015 and no later than September 15, 2014.14, 2015.

 

However, if we hold the 20132014 Annual Meeting on a date that is not within 30 days before or after such anniversary date, we must receive the notice (i) no earlier than 130 days prior to the annual meeting and no later than 90 days prior to the annual meeting, or (ii) no later than 10 days after the date we provide notice of the meeting to stockholders by mail or announce it publicly.

 

If we hold a special meeting of stockholders to elect directors, we must receive a stockholder’s notice of intention to introduce a nomination not less than the later of (i) 90 days nor more than 130 days prior to the special meeting, or (ii) ten days after the earlier of the date we first provide notice of the special meeting to stockholders or announce it publicly.

A notice of a proposed nomination must include certain information about the stockholder and the nominee, as well as a written consent of the proposed nominee to serve if elected. In addition to complying with the foregoing procedures, any stockholder nominating a director must comply with any applicable filing requirements of the SEC. A notice of a proposed item of business must include a description of the proposed business, any material interest of the stockholder in the business, and certain other information about the stockholder. Proxies solicited by the Board of Directors for the 20142015 annual meeting of stockholders may confer discretionary authority to vote on any untimely stockholder proposal or director nomination without express direction from stockholders giving such proxies.

HOUSEHOLDING

To reduce the expense of delivering duplicate proxy materials to stockholders who may have more than one account holding Broadridge Common Stock but sharing the same address, we have adopted a procedure approved by the SEC called “householding.” Under this procedure, certain registered stockholders who have the same address and last name, and who do not participate in electronic delivery of proxy materials, will receive only one copy of our Notice of Internet Availability and, as applicable, any additional proxy materials that are delivered until such time as one or more of these stockholders notifies us that they want to receive separate copies. Stockholders who participate in householding will continue to have access to and utilize separate proxy voting instructions.

If you are a registered stockholder and would like to have separate copies of the Notice of Internet Availability or proxy materials mailed to you in the future, you must submit a request to opt out of householding in writing to Broadridge Financial Solutions, Inc., Householding Department, 51 Mercedes Way, Edgewood, New York 11717 or call Broadridge at 1-800-542-1061, and we will cease householding all such documents within 30 days. If you are a beneficial stockholder, information regarding householding of proxy materials should have been forwarded to you by your broker. Registered stockholders are those stockholders who maintain shares under their own names. Beneficial stockholders are those stockholders who have their shares deposited with a brokerage firm.

However, please note that if you want to receive a paper proxy card or vote instruction form or other proxy materials for purposes of the 2013 Annual Meeting, you should follow the instructions included in the Notice of Internet Availability that was sent to you.

ELECTRONIC DELIVERY OF FUTURE PROXY MATERIALS

If you receive your proxy materials by mail, we encourage you to elect to receive future copies of proxy statements and annual reports by e-mail. To enroll in the online program, go towww.broadridge-ir.com, click on Stockholder Electronic Delivery and follow the enrollment instructions. Upon completion of enrollment, you will receive an e-mail confirming the election to use the electronic delivery services. The enrollment in the online program will remain in effect for as long as your brokerage account is active or until enrollment is cancelled. Enrolling to receive proxy materials online will save Broadridge the cost of printing and mailing documents, as well as help preserve our natural resources.

Your vote is important. Please sign, date, and return your proxy card by mail, or submit your proxy over the Internet or by telephone promptly.

By Order of the Board of Directors

Adam D. Amsterdam

Secretary

Lake Success, New York

October 4, 20133, 2014

Appendix A

Broadridge Financial Solutions, Inc.

2007 Omnibus Award Plan

(Amended and Restated Effective November 14, 2013)

1. Purpose

The purpose of the Plan is to provide a means through which the Company and its Affiliates may attract able persons to enter and remain in the employ of, or other service with, the Company and its Affiliates and to provide a means whereby employees, directors and consultants of the Company and its Affiliates can acquire and maintain Common Stock ownership, or be paid incentive compensation measured by reference to the value of Common Stock, thereby strengthening their commitment to the welfare of the Company and its Affiliates and promoting an identity of interest between stockholders and these persons.

So that the appropriate incentive can be provided, the Plan provides for granting Incentive Stock Options, Non-qualified Stock Options, Stock Appreciation Rights, Restricted Stock, Restricted Stock Units, Phantom Stock Awards, Stock Bonuses and Performance Compensation Awards, or any combination or variation of the foregoing.

The Plan, which was originally adopted by the Company effective March 29, 2007, was amended on April 29, 2008 to increase the per calendar year individual limit for Options and Stock Appreciation Rights, was amended and restated effective August 4, 2008, was again amended effective August 4, 2009, was further amended on August 3, 2010, and is hereby amended and restated effective November 14, 2013, subject to approval of the stockholders of the Company at the Company’s annual general meeting of stockholders in calendar year 2013.

2. Definitions

The following definitions shall be applicable throughout the Plan.

(a) “Affiliate” means (i) any entity that directly or indirectly is controlled by, controls or is under common control with the Company and (ii) to the extent provided by the Committee, any entity in which the Company has a significant equity interest.

(b) “Appreciation Award” means any Award under the Plan of any Option or SAR.

(c) “Award” means, individually or collectively, any Incentive Stock Option, Non-qualified Stock Option, Stock Appreciation Right, Restricted Stock, Restricted Stock Unit, Phantom Stock Award, Stock Bonus or Performance Compensation Award granted under the Plan.

(d) “Award Agreement” means an agreement pursuant to which an Award is granted.

(e) “Board” means the Board of Directors of the Company.

(f) “Cause” shall mean, unless in the case of a particular Award the applicable Award agreement states otherwise, the Company or an Affiliate having “cause” to terminate a Participant’s employment or service, as defined in any existing employment, consulting or any other agreement between the Participant and the Company or an Affiliate in effect at the time of such termination or, in the absence of such an employment, consulting or other agreement, upon (i) the good faith determination by the Committee that the Participant has ceased to perform his duties to the Company or an Affiliate (other than as a result of his incapacity due to physical or mental illness or injury), which failure amounts to an intentional and extended neglect of his duties to such party, provided that no such failure shall constitute Cause unless the Participant has been given notice of such failure (if cure is reasonably possible) and has not cured such act or omission within 15 days following receipt of such notice, (ii) the Committee’s good faith determination that the Participant

has engaged or is about to engage in conduct materially injurious to the Company or an Affiliate, (iii) the Participant having been convicted of, or plead guilty or no contest to, a felony or any crime involving as a material element fraud or dishonesty, (iv) the consistent failure of the Participant to follow the lawful instructions of the Board or his direct superiors, which failure amounts to an intentional and extended neglect of his duties to such party, or (v) in the case of a Participant who is a non-employee director, the Participant ceasing to be a member of the Board in connection with the Participant engaging in any of the activities described in clauses (i) through (iv) above.

(g) “Change in Control” shall mean the occurrence of any of the following: (A) any “Person” (as defined in Section 3(a)(9) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)), excluding the Company, any subsidiary of the Company, or any employee benefit plan sponsored or maintained by the Company (including any trustee of any such plan acting in his capacity as trustee), becoming the “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act) of securities of the Company representing 35% or more of the total combined voting power of the Company’s then outstanding securities; (B) the merger, consolidation or other business combination of the Company (a “Transaction”), other than a Transaction immediately following which the stockholders of the Company immediately prior to the Transaction continue to be the beneficial owners of securities of the resulting entity representing more than 65% of the voting power in the resulting entity, in substantially the same proportions as their ownership of Company voting securities immediately prior to the Transaction; (C) the sale of all or substantially all of the Company’s assets, other than a sale immediately following which the stockholders of the Company immediately prior to the sale are the beneficial owners of securities of the purchasing entity representing more than 65% of the voting power in the purchasing entity, in substantially the same proportions as their ownership of Company voting securities immediately prior to the Transaction; or (D) solely with respect to Awards granted on or after the Prior Effective Date, during any consecutive two-year period, individuals who at the beginning of such period constitute the Board and any new director (other than a director designated by a person who has entered into an agreement with the Company to effect a transaction described in paragraph (A), (B), or (C) of this Section or a director whose initial assumption of office is in connection with an actual or threatened election or other proxy contest, including but not limited to a consent solicitation, relating to the election of directors to the Board) whose election by the Board or nomination for election by the Company’s stockholders was approved by a vote of at least two-thirds of the directors then still in office who either were directors at the beginning of the two-year period or whose election or nomination for election was previously so approved, ceasing for any reason to constitute at least a majority of the Board. Notwithstanding any other provision of the Plan to the contrary, to the extent that Awards under the Plan subject to Section 409A of the Code are payable upon a Change in Control, an event shall not be considered to be a Change in Control under the Plan with respect to such Awards unless such event is also a “change in ownership,” a “change in effective control” or a “change in the ownership of a substantial portion of the assets” of the Company within the meaning of Section 409A of the Code.

(h) “Code” means the Internal Revenue Code of 1986, as amended. Reference in the Plan to any section of the Code shall be deemed to include any amendments or successor provisions to such section and any regulations under such section.

(i) “Committee” means the Compensation Committee of the Board or such other committee of at least two people as the Board may appoint to administer the Plan or, if no such committee has been appointed by the Board, the Board. Unless the Board is acting as the Committee or the Board specifically determines otherwise, each member of the Committee shall, at the time he takes any action with respect to an Award under the Plan, be a Qualified Director. However, the fact that a Committee member shall fail to qualify as a Qualified Director with respect to the requirements of Rule 16b-3 or Section 162(m) of the Code shall not invalidate any Award granted by the Committee which Award is otherwise validly granted under the Plan.

(j) “Common Stock” means the common stock of the Company, par value $0.01 per share, and any stock into which such common stock may be converted or into which it may be exchanged; provided that the Common Stock subject to any Award constitutes “service recipient” stock for purposes of Section 409A of the Code, unless the Award is intended to be structured in a manner that complies with Section 409A of the Code.

(k) “Company” means Broadridge Financial Solutions, Inc. and any successor thereto.

(l) “Date of Grant” means the date on which the granting of an Award is authorized, or such other date as may be specified in such authorization or, if there is no such date, the date indicated on the applicable Award Agreement pursuant to action of the Committee (or its authorized delegate).

(m) “Effective Date” means November 14, 2013, subject toSection 3.

(n) “Eligible Consultant” means any natural person who may be offered securities pursuant toForm S-8.

(o) “Eligible Director” means a director of the Company who is not an employee of the Company or an Affiliate.

(p) “Eligible Employee” means any individual regularly employed by the Company or Affiliate;provided,however, that no such employee covered by a collective bargaining agreement shall be an Eligible Employee unless and to the extent that such eligibility is set forth in such collective bargaining agreement or in an agreement or instrument relating thereto.

(q) “Exchange Act” means the Securities Exchange Act of 1934, as amended.

(r) “Fair Market Value”, on a given date, means, unless otherwise required by any applicable provision of the Code or any regulations issued thereunder, (i) if the Stock is listed on a national securities exchange, the closing price reported on the primary exchange with which the Stock is listed and traded on such date, or, if there is no such sale on that date, then the closing price on the last preceding date on which such a sale was reported; or (ii) if the Stock is not listed on a national securities exchange, the amount determined by the Committee to be the fair market value based upon a good faith attempt to value the Stock accurately and computed in accordance with applicable regulations of the Internal Revenue Service, including, without limitation, the regulations promulgated under Section 422 of the Code or Section 409A of the Code, as applicable.

(s) “Incentive Stock Option” means an Option granted by the Committee to a Participant under the Plan which is designated by the Committee as an incentive stock option as described in Section 422 of the Code and otherwise meets the requirements set forth herein.

(t) “Negative Discretion” shall mean the discretion authorized by the Plan to be applied by the Committee to eliminate or reduce the size of a Performance Compensation Award in accordance withSection 11(d)(iv) of the Plan;provided, that the exercise of such discretion would not cause the Performance Compensation Award to fail to qualify as “performance-based compensation” under Section 162(m) of the Code.

(u) “Non-qualified Stock Option” means an Option granted by the Committee to a Participant under the Plan which is not designated by the Committee as an Incentive Stock Option.

(v) “Option” means an Award granted underSection 7 of the Plan.

(w) “Option Period” means the period described inSection 7(c) of the Plan.

(x) “Option Price” means the exercise price for an Option as described inSection 7(a) of the Plan.

(y) “Participant” means an Eligible Employee, Eligible Director or Eligible Consultant who has been selected by the Committee to participate in the Plan and to receive an Award pursuant toSection 6of the Plan.

(z) “Parent” means any parent of the Company, as defined in Section 424(e) of the Code.

(aa) “Performance Compensation Award” shall mean any Award designated by the Committee as a Performance Compensation Award pursuant toSection 11 of the Plan.

(bb) “Performance Criteria” shall be measured in terms of one or more of the following objectives, described as they relate to Company-wide objectives or of an Affiliate, a subsidiary, division, department or function of the Company or an Affiliate:

(i) Earnings per share;

(ii) Stock price;

(iii) Stockholder return;

(iv) Return on investment;

(v) Return on capital;

(vi) Earnings before interest, taxes, depreciation and/or amortization;

(vii) Income before taxes and extraordinary items;

(viii) Gross or net profits;

(ix) Gross or net revenues;

(x) Net earnings or net income (before or after taxes);

(xi) Operating income;

(xii) Operating profit or net operating profit (before or after taxes);

(xiii) Return measures (including, but not limited to, return on assets or net assets, capital, invested capital, equity, or sales);

(xiv) Cash flow (including, but not limited to, operating cash flow, free cash flow, and cash flow return on capital);

(xv) Gross or operating margins;

(xvi) Fair market value of the shares of the Company’s Common Stock;

(xvii) The growth in the value of an investment in the Company’s Common Stock assuming the reinvestment of dividends;

(xviii) Productivity ratios;

(xix) Expense targets;

(xx) Margins;

(xxi) Operating efficiency;

(xxii) Objective measures of customer satisfaction;

(xxiii) Cost reductions or savings;

(xxiv) Market share;

(xxv) Working capital targets;

(xxvi) Measures of economic value added;

(xxvii) Sales;

(xxviii) Enterprise value;

(xxix) Client retention;

(xxx) Competitive market metrics;

(xxxi) Employee retention;

(xxxii) Timely completion of new product rollouts; or

(xxxiii) Any combination of the foregoing.

The foregoing performance criteria may be measured on an absolute basis or relative to a pre-established target, to previous years’ results or to a designated comparison group.

For purposes of item (vii) above, “extraordinary items” shall mean all items of gain, loss or expense for the fiscal year determined to be extraordinary or unusual in nature or infrequent in occurrence or related to a corporate transaction (including, without limitation, a disposition or acquisition) or related to a change in accounting principle, all as determined in accordance with standards established by Accounting Principles Board Opinion No. 30 (or any successor pronouncement thereto).

Only to the extent permitted under Section 162(m) of the Code (including, without limitation, compliance with any requirements for stockholder approval), the Committee may: (i) designate additional business criteria on which the Performance Criteria may be based or (ii) adjust, modify or amend the aforementioned business criteria.

(cc) “Performance Formula” shall mean, for a Performance Period, the one or more objective formulas applied against the relevant Performance Goal to determine, with regard to the Performance Compensation Award of a particular Participant, whether all, some portion but less than all, or none of the Performance Compensation Award has been earned for the Performance Period.

(dd) “Performance Goals” shall mean, for a Performance Period, the one or more goals established by the Committee for the Performance Period based upon the Performance Criteria. The Committee is authorized at any time during the first 90 days of a Performance Period (or, if longer or shorter, within the maximum period allowed under Section 162(m) of the Code), or at any time thereafter (but only to the extent the exercise of such authority after such period would not cause the Performance Compensation Awards granted to any Participant for the Performance Period to fail to qualify as “performance-based compensation” under Section 162(m) of the Code), in its sole and absolute discretion, to adjust or modify the calculation of a Performance Goal for such Performance Period to the extent permitted under Section 162(m) of the Code in order to prevent the dilution or enlargement of the rights of Participants based on the following events:

(i) asset write-downs;

(ii) litigation or claim judgments or settlements;

(iii) the effect of changes in tax laws, accounting principles, or other laws or regulatory rules affecting reported results;

(iv) any reorganization and restructuring programs;

(v) extraordinary nonrecurring items as described in Accounting Principles Board Opinion No. 30 (or any successor pronouncement thereto) and/or in management’s discussion and analysis of financial condition and results of operations appearing in the Company’s annual report to stockholders for the applicable year;

(vi) acquisitions or divestitures;

(vii) any other specific unusual or nonrecurring events, or objectively determinable category thereof;

(viii) foreign exchange gains and losses; and

(ix) a change in the Company’s fiscal year.

(ee) “Performance Period” shall mean the one or more periods of time, as the Committee may select, over which the attainment of one or more Performance Goals will be measured for the purpose of determining a Participant’s right to and the payment of a Performance Compensation Award.

(ff) “Phantom Stock Award” shall mean a cash award whose value is determined based on the change in the value of the Company Common Stock from the Date of Grant.

(gg) “Plan” means this Broadridge Financial Solutions, Inc. 2007 Omnibus Award Plan (Amended and Restated Effective November 14, 2013).

(hh) “Prior Effective Date” means August 4, 2008.

(ii) “Qualified Director” means a person who is (i) a “non-employee director” within the meaning of Rule 16b-3 under the Exchange Act, or a person meeting any similar requirement under any successor rule or regulation and (ii) an “outside director” within the meaning of Section 162(m) of the Code, and the Treasury Regulations promulgated thereunder, and (iii) an “independent director” under the rules of any stock exchange on which the Stock is listed;provided,however, that (A) clause (i) shall apply only with respect to grants of Awards to which Section 16(b) of the Exchange Act otherwise would be applicable and (B) clause (ii) shall apply only with respect to grants of Awards with respect to which the Company’s tax deduction could be limited by Section 162(m) of the Code if such clause did not apply.

(jj) “Restricted Period” means, with respect to any Award of Restricted Stock or any Restricted Stock Unit, the period of time determined by the Committee during which such Award is subject to the restrictions set forth inSection 9 or, as applicable, the period of time within which performance is measured for purposes of determining whether an Award has been earned.

(kk) “Restricted Stock” means shares of Stock issued or transferred to a Participant subject to forfeiture and the other restrictions set forth inSection 9 of the Plan.

(ll) “Restricted Stock Unit” means a hypothetical investment equivalent to one share of Stock granted in connection with an Award made underSection 9.

(mm) “Securities Act” means the Securities Act of 1933, as amended.

(nn) “Stock” means the Common Stock or such other authorized shares of stock of the Company as the Committee may from time to time authorize for use under the Plan.

(oo) “Stock Appreciation Right” or “SAR” means an Award granted underSection 8 of the Plan.

(pp) “Stock Bonus” means an Award granted underSection 10 of the Plan.

(qq) “Stock Option Agreement” means any agreement between the Company and a Participant who has been granted an Option pursuant toSection 7 which defines the rights and obligations of the parties thereto.

(rr) “Strike Price” means, (i) in the case of a SAR granted in tandem with an Option, the Option Price of the related Option, or (ii) in the case of a SAR granted independent of an Option, the Fair Market Value on the Date of Grant.

(ss) “Subsidiary” means any subsidiary of the Company, as defined in Section 424(f) of the Code.

(tt) “Substitution Award” means an Award that is intended to replace any existing incentive award held by an Eligible Employee or Eligible Director of, or Eligible Consultant to, an entity acquired by the Company or an Affiliate. The terms and conditions of any Substitution Award shall be set forth in an Award Agreement and shall, except as may be inconsistent with any provision of the Plan, to the extent practicable provide the recipient with benefits (including economic value) substantially similar to those provided to the recipient under the existing Award which such Substitution Award is intended to replace.

(uu) “Termination” means a Termination of Employment, Termination of Directorship or Termination of Consultancy, as applicable. Notwithstanding anything herein to the contrary, for Awards that are intended to be subject to Section 409A of the Code and payable on a Participant’s Termination, any payment shall be

made solely if such termination constitutes a “separation from service” under Section 409A of the Code and guidance issued thereunder.

(vv) “Termination of Consultancy” means: (a) that a Consultant is no longer acting as a consultant to the Company or an Affiliate; or (b) when an entity which is retaining a Participant as a Consultant ceases to be an Affiliate unless the Participant otherwise is, or thereupon becomes, a Consultant to the Company or another Affiliate at the time the entity ceases to be an Affiliate. With respect to Awards granted on or after the Prior Effective Date and solely to the extent provided in an Award Agreement for an Award granted prior to the Prior Effective Date, in the event that a Consultant becomes an Eligible Employee or an Eligible Director upon the termination of his or her consultancy, unless otherwise determined by the Committee, in its sole discretion, no Termination of Consultancy shall be deemed to occur until such time as such Consultant is no longer a Consultant, an Eligible Employee or an Eligible Director. Notwithstanding the foregoing, the Committee may, in its sole discretion, otherwise define Termination of Consultancy in the Award agreement or, if no rights of a Participant are reduced, may otherwise define Termination of Consultancy thereafter.

(ww) “Termination of Directorship” means that an Eligible Director has ceased to be a director of the Company; except that, with respect to Awards granted on or after the Prior Effective Date and solely to the extent provided in an Award Agreement for an Award granted prior to the Prior Effective Date, if an Eligible Director becomes an Eligible Employee or a Consultant upon the termination of his or her directorship, his or her ceasing to be a director of the Company shall not be treated as a Termination of Directorship unless and until the Participant has a Termination of Employment or a Termination of Consultancy, as the case may be.

(xx) “Termination of Employment” means: (a) a termination of employment (for reasons other than a military or personal leave of absence granted by the Company) of a Participant from the Company and its Affiliates; or (b) when an entity which is employing a Participant ceases to be an Affiliate, unless the Participant otherwise is, or thereupon becomes, employed by the Company or another Affiliate at the time the entity ceases to be an Affiliate. With respect to Awards granted on or after the Prior Effective Date and solely to the extent provided in an Award Agreement for an Award granted prior to the Prior Effective Date, in the event that an Eligible Employee becomes an Eligible Consultant or an Eligible Director upon the termination of his or her employment, unless otherwise determined by the Committee, in its sole discretion, no Termination of Employment shall be deemed to occur until such time as such Eligible Employee is no longer an Eligible Employee, or an Eligible Consultant or an Eligible Director. Notwithstanding the foregoing, the Committee may, in its sole discretion, otherwise define Termination of Employment in the Award agreement or, if no rights of a Participant are reduced, may otherwise define Termination of Employment thereafter.

(yy) “Vested Unit” shall have the meaning ascribed thereto inSection 9(d).

3. Effective Date and Stockholder Approval

The Plan is effective November 14, 2013, subject to the approval of the Plan by stockholders of the Company in accordance with the requirements of the laws of the State of Delaware and the requirements of the New York Stock Exchange at the Company’s annual general meeting of stockholders in calendar year 2013.

No Option shall be treated as an Incentive Stock Option unless the Plan has been approved by the stockholders of the Company in a manner intended to comply with the stockholder approval requirements of Section 422(b)(i) of the Code.

4. Administration

(a) The Committee shall administer and interpret the Plan. The majority of the members of the Committee shall constitute a quorum. The acts of a majority of the members present at any meeting at which a quorum is present or acts approved in writing by a majority of the Committee shall be deemed the acts of the Committee.

(b) Subject to the provisions of the Plan and applicable law, the Committee shall have the power, and in addition to other express powers and authorizations conferred on the Committee by the Plan, to: (i) designate Participants; (ii) determine the type or types of Awards to be granted to a Participant; (iii) determine the number of shares of Stock to be covered by, or with respect to which payments, rights, or other matters are to be calculated in connection with, Awards; (iv) determine the terms and conditions of any Award; (v) determine whether, to what extent, and under what circumstances Awards may be settled or exercised in cash, shares of Stock, other securities, other Awards or other property, or canceled, forfeited, or suspended and the method or methods by which Awards may be settled, exercised, canceled, forfeited, or suspended; (vi) determine whether, to what extent, and under what circumstances the delivery of cash, Stock, other securities, other Options, other property and other amounts payable with respect to an Award shall be deferred either automatically or at the election of the holder thereof or of the Committee, provided that it shall be designed in a manner intended to comply with Section 409A of the Code; (vii) interpret, administer, reconcile any inconsistency, correct any defect and/or supply any omission in the Plan and any instrument or agreement relating to, or Award granted under, the Plan; (viii) establish, amend, suspend, or waive any rules and regulations under the Plan; (ix) appoint such agents as it shall deem appropriate for the proper administration of the Plan; and (x) make any other determination and take any other action that the Committee deems necessary or desirable for the administration of the Plan.

(c) Notwithstanding the foregoing, the Committee may delegate to any officer or officers of the Company or any Affiliate the authority to act on behalf of the Committee with respect to any matter, right, obligation, or election which is the responsibility of or which is allocated to the Committee herein, and which may be so delegated as a matter of law, except for grants of Awards to (i) “covered employees” under Code Section 162(m) (other than Awards exempt from the application of Code Section 162(m)) and (ii) persons subject to Section 16 of the Exchange Act.

(d) Unless otherwise expressly provided in the Plan, all designations, determinations, interpretations, and other decisions under or with respect to the Plan or any Award or any documents evidencing Awards granted pursuant to the Plan shall be within the sole discretion of the Committee, may be made at any time and shall be final, conclusive and binding upon all parties, including, without limitation, the Company, any Affiliate, any Participant, any holder or beneficiary of any Award, and any stockholder.

(e) Subject toSection 16 hereof, the Committee shall, in its sole discretion, have the authority to adopt, alter and repeal such administrative rules, guidelines and practices governing the Plan and perform all acts, as it shall, from time to time, deem advisable. The Committee may, in its sole discretion, adopt special guidelines and provisions for persons who are residing in or employed in, or subject to, the taxes of, any domestic or foreign jurisdictions to comply with applicable tax and securities laws of such domestic or foreign jurisdictions. The Plan is intended to comply with the applicable requirements of Rule 16b-3 under the Exchange Act, with respect to Options, SARs and Performance Compensation Awards, the applicable provisions of Section 162(m) of the Code, and with respect to Awards containing deferral provisions, Section 409A of the Code and the Plan shall be limited, construed and interpreted in a manner so as to comply therewith.

(f) No member of the Committee shall be liable for any action or determination made in good faith with respect to the Plan or any Award hereunder.

5. Grant of Awards; Shares Subject to the Plan

The Committee may, from time to time, grant Awards of Options, Stock Appreciation Rights, Restricted Stock, Restricted Stock Units, Phantom Stock Awards, Stock Bonuses and/or Performance Compensation Awards to one or more Eligible Employees, Eligible Directors or Eligible Consultants;provided,however, that:

(a) Subject toSection 13, the aggregate number of shares of Stock in respect of which Awards may be granted under the Plan on or after the Effective Date is 9,064,596 shares, less the number of Shares in respect of Awards granted after June 30, 2013 and prior to the Effective Date. If an SAR is granted in

tandem with an Option, the shares of Stock covered by such tandem award shall only apply once against the maximum number of shares of Stock which may be granted under the Plan;

(b) If and to the extent Awards granted under the Plan expire, terminate or are canceled for any reason whatsoever after June 30, 2013 or to the extent Awards are cash-settled after June 30, 2013, the shares of Stock covered by such Awards (other than Substitution Awards) shall, to the extent of such expiration, termination, cancellation or cash-settlement again become available for future Awards under the Plan and shall be added back on a one-for-one basis to the aggregate maximum limit, as provided inSection 5(a). To the extent that, after June 30, 2013, (i) any Option or other Award granted under the Plan is exercised through the tendering of shares of Stock (either actually or by attestation) or by the withholding of shares of Stock by the Company, or (ii) any shares of Stock subject to an Award granted under this Plan are withheld to satisfy any tax-withholding obligation, then in each such case the shares of Stock so tendered or withheld shall again become available for future Awards under the Plan and shall be added back on a one-for-one basis to the aggregate maximum limit, as provided inSection 5(a). For purposes of determining the number of shares of Stock available for Awards under the Plan, each SAR exercised after June 30, 2013 shall count against the aggregate maximum limit, as provided inSection 5(a), based on the number of shares of Stock issued in settlement of such SAR rather than the number of shares of Stock underlying the exercised portion of such SAR. In the case of any Substitution Award, shares of Stock delivered or to be delivered in connection with such Substitution Award shall not be counted against the number of shares of Stock reserved under the Plan, but shall be available under the Plan by virtue of the Company’s assumption of the plan or arrangement of the acquired company or business;

(c) Stock delivered by the Company in settlement of Awards may be authorized and unissued Stock, Stock held in the treasury of the Company, Stock purchased on the open market or by private purchase, or a combination of the foregoing;

(d) Subject toSection 13, no Participant may be granted Options or SARs or Restricted Stock, Restricted Stock Units or Stock Bonus Awards which are Performance Compensation Awards under the Plan during any three consecutive calendar years with respect to more than 2,550,000 shares of Stock, which limit shall apply individually to each such Award, provided that the maximum aggregate number of shares of Stock for all types of such Awards does not exceed 2,550,000 shares of Stock to any Participant during any three consecutive calendar years. If an SAR is granted in tandem with an Option, it shall apply against the Participant’s individual share limitations for both SARs and Options;

(e) The maximum amount that can be paid in any calendar year to any Participant pursuant to a cash bonus Award described in the last sentence ofSection 11(a) shall be $3,000,000. Furthermore, any Performance Compensation Award that has been deferred shall not (between the date as of which the Award is deferred and the payment date) increase (A) with respect to a Performance Compensation Award that is payable in cash, by a measuring factor for each fiscal year that is greater than either a reasonable rate of interest or one or more predetermined actual investments, as set by the Committee in a manner consistent with Section 162(m) of the Code or (B) with respect to a Performance Compensation Award that is payable in shares of Stock, by an amount greater than the appreciation of a share of Stock from the date such Award is deferred to the payment date; and

(f) There are no annual individual Participant share limitations on Restricted Stock, Restricted Stock Units, Phantom Stock Awards, or Stock Bonus Awards that are not intended to comply with the requirements of Section 162(m) of the Code.

(g) Except as provided inSection 14and without limiting the generality of the preceding provisions of thisSection 5, the Committee may, but solely with the Participant’s consent, agree to cancel any Award under the Plan and issue a new Award in substitution therefor upon such terms as the Committee may in its sole discretion determine, provided that the substituted Award satisfies all applicable Plan requirements as of the date such new Award is granted and Section 409A of the Code. Notwithstanding the foregoing, an outstanding Option or SAR may not be modified to reduce the Option Price or Strike Price, as applicable, thereof, nor may an Option or SAR be cancelled, exchanged or surrendered in exchange for cash, other

Awards, or stock options or SARs with an Option Price or Strike Price that is less than the Option Price or Strike Price of the original Award, as applicable (other than adjustments or substitutions in accordance withSection 13or in connection with a Change in Control transaction underSection 14), unless such action is approved by the stockholders of the Company.

(h) No more than $500,000 may be granted in Awards under the Plan during any calendar year to an Eligible Director (based on the Fair Market Value of the shares of Stock underlying the Award as of the applicable grant date in the case of Restricted Stock, Restricted Stock Units, Phantom Stock Awards or Stock Bonus Awards, and based on the applicable grant date fair value for accounting purposes in the case of Options or SARs).

6. Eligibility

Participation shall be limited to Eligible Employees, Eligible Directors and Eligible Consultants who have entered into an Award Agreement or who have received written notification from the Committee, or from a person designated by the Committee, that they have been selected to participate in the Plan. Actual participation in the Plan and receipt of an Award under the Plan shall be determined by the Committee in its sole discretion.

7. Options

The Committee is authorized to grant one or more Stock Options to any Eligible Employee, Eligible Director or Eligible Consultant;provided,however, that no Incentive Stock Option shall be granted to any Participant who is not an Eligible Employee of the Company or a Parent or Subsidiary. Each Option so granted shall be subject to the conditions set forth in thisSection 7, or to such other conditions as may be reflected in the applicable Stock Option Agreement. To the extent that any Stock Option does not qualify as an Incentive Stock Option (whether because of its provisions or the time or manner of its exercise or otherwise), such Stock Option or the portion thereof which does not qualify shall constitute a separate Non-Qualified Stock Option.

(a)Option Price.Subject toSection 7(e), the exercise price (“Option Price”) per share of Stock for each Option shall be set by the Committee at the time of grant but, except in the case of Substitution Awards, shall not be less than the Fair Market Value of a share of Stock on the Date of Grant.

(b)Manner of Exercise and Form of Payment.No shares of Stock shall be delivered pursuant to any exercise of an Option until payment in full of the Option Price therefor is received by the Company. Options which have become exercisable may be exercised by delivery of written notice of exercise to the Committee accompanied by payment of the Option Price. The Option Price shall be payable (i) in cash, check, cash equivalent and/or shares of Stock valued at the Fair Market Value at the time the Option is exercised (including by means of attestation of ownership of a sufficient number of shares of Stock in lieu of actual delivery of such shares to the Company); (ii) in the discretion of the Committee, either (A) in other property having a fair market value on the date of exercise equal to the Option Price, (B) by means of a “net exercise” whereby the number of shares of Stock received by Participant shall equal the excess, if any, of (x) the number of shares of Stock that would have been received by Participant upon such exercise had Participant paid the Option Price in cash over (y) a number of shares of Stock, the aggregate Fair Market Value of which is equal to the aggregate Option Price that would have been paid as determined pursuant to the immediately preceding clause (x), or (C) by delivering to the Committee a copy of irrevocable instructions to a stockbroker, reasonably acceptable to the Committee or specifically designated by the Committee, to deliver promptly to the Company an amount of loan proceeds, or proceeds from the sale of the Stock subject to the Option, sufficient to pay the Option Price (which may also include sufficient funds to cover applicable federal, state, local or foreign withholding taxes); or (iii) by such other method as the Committee may allow. Notwithstanding the foregoing, in no event shall a Participant be permitted to exercise an Option in a manner which the Committee determines would violate the Sarbanes-Oxley Act of 2002, any other applicable law or the applicable rules and regulations of the Securities and Exchange Commission or the applicable rules and regulations of any securities exchange or inter dealer quotation system on which the securities of the Company or any Affiliates are listed or traded.

(c)Vesting, Option Period and Expiration.Options shall vest and become exercisable in such manner and on such date or dates determined by the Committee and shall expire after such period, not to exceed ten years, as may be determined by the Committee (the “Option Period”);provided,however, that notwithstanding any vesting dates set by the Committee, the Committee may, in its sole discretion, accelerate the exercisability of any Option, which acceleration shall not affect the terms and conditions of such Option other than with respect to exercisability. If an Option is exercisable in installments, such installments or portions thereof which become exercisable shall remain exercisable until the Option expires.

(d)Stock Option Agreement—Other Terms and Conditions.Each Option granted under the Plan shall be evidenced by a Stock Option Agreement. Except as specifically provided otherwise in such Stock Option Agreement, each Option granted under the Plan shall be subject to the following terms and conditions:

(i) Each Option or portion thereof that is exercisable shall be exercisable for the full amount or for any part thereof.

(ii) Each share of Stock purchased through the exercise of an Option shall be paid for in full at the time of the exercise. Each Option shall cease to be exercisable, as to any share of Stock, when the Participant purchases the share or exercises a related SAR or when the Option expires.

(iii) Subject toSection 12(m), Options shall not be transferable by the Participant except by will or the laws of descent and distribution and shall be exercisable during the Participant’s lifetime only by him.

(iv) Each Option shall vest and become exercisable by the Participant in accordance with the vesting schedule established by the Committee and set forth in the Stock Option Agreement.

(v) At the time of any exercise of an Option, the Committee may, in its sole discretion, require a Participant to deliver to the Committee a written representation that the shares of Stock to be acquired upon such exercise are to be acquired for investment and not for resale or with a view to the distribution thereof and any other representation deemed necessary by the Committee to ensure compliance with all applicable federal and state securities laws. Upon such a request by the Committee, delivery of such representation prior to the delivery of any shares issued upon exercise of an Option shall be a condition precedent to the right of the Participant or such other person to purchase any shares. In the event certificates for Stock are delivered under the Plan with respect to which such investment representation has been obtained, the Committee may cause a legend or legends to be placed on such certificates to make appropriate reference to such representation and to restrict transfer in the absence of compliance with applicable federal or state securities laws.

(vi) Each Participant awarded an Incentive Stock Option under the Plan shall notify the Company in writing immediately after the date he or she makes a disqualifying disposition of any Stock acquired pursuant to the exercise of such Incentive Stock Option. A disqualifying disposition is any disposition (including any sale) of such Stock before the later of (A) two years after the Date of Grant of the Incentive Stock Option or (B) one year after the date the Participant acquired the Stock by exercising the Incentive Stock Option. The Company may, if determined by the Committee and in accordance with procedures established by it, retain possession of any Stock acquired pursuant to the exercise of an Incentive Stock Option as agent for the applicable Participant until the end of the period described in the preceding sentence, subject to complying with any instructions from such Participant as to the sale of such Stock.

(vii) A Stock Option Agreement may, but need not, include a provision whereby a Participant may elect, at any time before the Participant’s Termination with the Company, to exercise the Option as to any part or all of the shares of Stock subject to the Option prior to the full vesting of the Option. Any unvested shares of Stock so purchased may be subject to a share repurchase option in favor of the Company or to any other restriction the Committee determines to be appropriate. The Company shall not exercise its repurchase option until at least six (6) months (or such longer or shorter period of time

required to avoid a charge to earnings for financial accounting purposes) have elapsed following the exercise of the Option unless the Committee otherwise specifically provides in an Stock Option Agreement.

(e)Incentive Stock Option Grants to 10% Stockholders.Notwithstanding anything to the contrary in thisSection 7, if an Incentive Stock Option is granted to a Participant who owns stock representing more than ten percent of the voting power of all classes of stock of the Company or of a Subsidiary or Parent, the Option Period shall not exceed five years from the Date of Grant of such Option and the Option Price shall be at least 110 percent of the Fair Market Value (on the Date of Grant) of the Stock subject to the Option.

(f)$100,000 Per Year Limitation for Incentive Stock Options.To the extent the aggregate Fair Market Value (determined as of the Date of Grant) of Stock for which Incentive Stock Options are exercisable for the first time by any Participant during any calendar year (under all plans of the Company) exceeds $100,000, such excess Incentive Stock Options shall be treated as Non-qualified Stock Options.

(g)Voluntary Surrender.The Committee may permit the voluntary surrender of all or any portion of any Non-qualified Stock Option and its corresponding SAR, if any, granted under the Plan to be conditioned upon the granting to the Participant of a new option for the same or a different number of shares as the option surrendered or require such voluntary surrender as a condition precedent to a grant of a new Option to such Participant. Such new Option shall be exercisable at an Option Price, during an Option Period, and in accordance with any other terms or conditions specified by the Committee at the time the new Option is granted, all determined in accordance with the provisions of the Plan without regard to the Option Price, Option Period, or any other terms and conditions of the Non-qualified Stock Option surrendered. Notwithstanding the foregoing, the terms of outstanding Awards may not be amended to reduce the Option Price or Strike Price of outstanding Options or SARs or cancel, exchange or surrender outstanding Options or SARs in exchange for cash, other awards or Options or SARs with a Strike Price that is less than the Strike Price of the original Options or SARs (other than adjustments or substitutions in accordance withSection 13 and Section 14), unless such action is approved by the stockholders of the Company.

8. Stock Appreciation Rights

Any Option granted under the Plan may include SARs, either at the Date of Grant or, except in the case of an Incentive Stock Option, by subsequent amendment. The Committee also may award SARs to Eligible Employees, Eligible Directors or Eligible Consultants independent of any Option. An SAR shall be subject to such terms and conditions not inconsistent with the Plan as the Committee shall impose, including, but not limited to, the following:

(a)Vesting, Transferability and Expiration.An SAR granted in connection with an Option shall become exercisable, be transferable and shall expire according to the same vesting schedule, transferability rules and expiration provisions as the corresponding Option. An SAR granted independent of an Option shall become exercisable, be transferable and shall expire in accordance with a vesting schedule, transferability rules and expiration provisions as established by the Committee and reflected in an Award Agreement.

(b)Automatic Exercise.The Strike Price per share covered by an SAR shall be not less than the per share Option Price of the related Option in the case of an SAR granted in connection with an Option. The Strike Price per share covered by an SAR, other than a Substitution Award, granted independent of an Option shall be not less than the per share Fair Market Value of the Common Stock on the Date of Grant. If on the last day of the Option Period (or in the case of a SAR independent of an option, the period established by the Committee after which the SAR shall expire), the Fair Market Value exceeds the Strike Price, the Participant has not exercised the SAR or the corresponding Option, and neither the SAR nor the corresponding Option has expired, such SAR shall be deemed to have been exercised by the Participant on such last day and the Company shall make the appropriate payment therefor.

(c)Payment.Upon the exercise of an SAR, the Company shall pay to the Participant an amount equal to the number of shares subject to the SAR multiplied by the excess, if any, of the Fair Market Value of one

share of Stock on the exercise date over the Strike Price. The Company shall pay such excess in cash, in shares of Stock valued at Fair Market Value, or any combination thereof, as determined by the Committee. Fractional shares shall be settled in cash.

(d)Method of Exercise.A Participant may exercise an SAR at such time or times as may be determined by the Committee at the time of grant by filing an irrevocable written notice with the Committee or its designee, specifying the number of SARs to be exercised, and the date on which such SARs were awarded.

(e)Expiration.Except as otherwise provided in the case of SARs granted in connection with Options, an SAR shall expire on a date designated by the Committee which is not later than ten years after the Date of Grant of the SAR.

9. Restricted Stock and Restricted Stock Units

(a) Award of Restricted Stock and Restricted Stock Units.

(i) The Committee shall have the authority (A) to grant Restricted Stock and Restricted Stock Units to Eligible Employees, Eligible Directors and Eligible Consultants, (B) to issue or transfer Restricted Stock to Participants, and (C) to establish terms, conditions and restrictions applicable to such Restricted Stock and Restricted Stock Units, including the Restricted Period, as applicable, which may differ with respect to each grantee, the time or times at which Restricted Stock or Restricted Stock Units shall be granted or become vested and the number of shares or units to be covered by each grant.

(ii) Each Participant granted Restricted Stock shall execute and deliver to the Company an Award Agreement with respect to the Restricted Stock setting forth the restrictions and other terms and conditions applicable to such Restricted Stock. If the Committee determines that the Restricted Stock shall be held by the Company or in escrow rather than delivered to the Participant pending the release of the applicable restrictions, the Committee may require the Participant to additionally execute and deliver to the Company (A) an escrow agreement satisfactory to the Committee, if applicable, and (B) the appropriate blank stock power with respect to the Restricted Stock covered by such agreement. If a Participant shall fail to execute an Award Agreement evidencing an Award of Restricted Stock and, if applicable, an escrow agreement and stock power, the Award shall be null and void. Subject to the restrictions set forth inSection 9(b), the Participant generally shall have the rights and privileges of a stockholder as to such Restricted Stock, including the right to vote such Restricted Stock. At the discretion of the Committee, cash dividends and stock dividends with respect to the Restricted Stock may be either currently paid to the Participant or withheld by the Company for the Participant’s account as provided in the Award Agreement, and interest may be credited on the amount of cash dividends withheld at a rate and subject to such terms as determined by the Committee. The cash dividends or stock dividends so withheld by the Committee and attributable to any particular share of Restricted Stock (and earnings thereon, if applicable) shall be distributed to the Participant in cash or, at the discretion of the Committee, in shares of Stock having a Fair Market Value equal to the amount of such dividends and earnings, if applicable, upon the release of restrictions on such share and, if such share is forfeited, the Participant shall have no right to such cash dividends, stock dividends or earnings.

(iii) Upon the grant of Restricted Stock, the Committee shall, in its sole discretion, either cause a stock certificate registered in the name of the Participant to be issued and, if it so determines, deposited together with the stock powers with an escrow agent designated by the Committee or require the shares of Restricted Stock be held in uncertificated book entry form. If an escrow arrangement is used, the Committee may cause the escrow agent to issue to the Participant a receipt evidencing any stock certificate held by it, registered in the name of the Participant.

(iv) The terms and conditions of a grant of Restricted Stock Units shall be reflected in a written Award Agreement. No shares of Stock shall be issued at the time a Restricted Stock Unit is granted, and the Company

will not be required to set aside a fund for the payment of any such Award. At the discretion of the Committee, each Restricted Stock Unit (representing one share of Stock) may be credited with cash and stock dividends paid by the Company in respect of one share of Stock (“Dividend Equivalents”) in a manner intended to comply with Section 409A of the Code. At the discretion of the Committee, Dividend Equivalents may be either currently paid to the Participant or withheld by the Company for the Participant’s account in a manner intended to comply with Section 409A of the Code, and interest may be credited on the amount of cash Dividend Equivalents withheld at a rate and subject to such terms as determined by the Committee. Dividend Equivalents credited to a Participant’s account and attributable to any particular Restricted Stock Unit (and earnings thereon, if applicable) shall be distributed in cash or, at the discretion of the Committee, in shares of Stock having a Fair Market Value equal to the amount of such Dividend Equivalents and earnings, if applicable, to the Participant upon settlement of such Restricted Stock Unit and, if such Restricted Stock Unit is forfeited, the Participant shall have no right to such Dividends Equivalents.

(b) Restrictions.

(i) Restricted Stock awarded to a Participant shall be subject to the following restrictions until the expiration of the Restricted Period, and to such other terms and conditions as may be set forth in the applicable Award Agreement: (A) if an escrow arrangement or uncertificated book entry is used, the Participant shall not be entitled to delivery of the stock certificate; (B) the shares shall be subject to the restrictions on transferability set forth in the Award Agreement; (C) the shares shall be subject to forfeiture to the extent provided in thisSection 9(b) and the applicable Award Agreement; and (D) to the extent such shares are forfeited, the stock certificates shall be returned to the Company, and all rights of the Participant to such shares and as a stockholder with respect to such shares shall terminate without further obligation on the part of the Company.

(ii) Restricted Stock Units awarded to any Participant shall be subject to (A) forfeiture until the expiration of the Restricted Period, and satisfaction of any applicable Performance Goals during such period, to the extent provided in the applicable Award Agreement, and to the extent such Restricted Stock Units are forfeited, all rights of the Participant to such Restricted Stock Units shall terminate without further obligation on the part of the Company and (B) such other terms and conditions as may be set forth in the applicable Award Agreement.

(iii) The Committee shall have the authority to remove any or all of the restrictions on the Restricted Stock and Restricted Stock Units whenever it may determine that, by reason of changes in applicable laws or other changes in circumstances arising after the date of the Restricted Stock or Restricted Stock Units are granted, such action is appropriate.

(iv) The Committee may determine that an Award of Restricted Stock or Restricted Stock Units shall be a Performance Compensation Award conditioned upon the attainment of Performance Goals and subject to the provisions ofSection 11 hereof.

(c)Restricted Period.With respect to Restricted Stock and Restricted Stock Units, the Restricted Period shall commence on the Date of Grant or such other date specified by the Committee and end at the time or times set forth on a schedule established by the Committee in the applicable Award Agreement.

(d)Delivery of Restricted Stock and Settlement of Restricted Stock Units.Upon the expiration of the Restricted Period with respect to any shares of Restricted Stock, the restrictions set forth inSection 9(b) and the applicable Award Agreement shall be of no further force or effect with respect to such shares, except as set forth in the applicable Award Agreement. If an escrow arrangement is used, upon such expiration, the Company shall deliver to the Participant, or his beneficiary, without charge, the stock certificate evidencing the shares of Restricted Stock which have not then been forfeited and with respect to which the Restricted Period has expired (to the nearest full share) and any cash dividends or stock dividends credited to the Participant’s account with respect to such Restricted Stock and the interest thereon, if any.

Upon the expiration of the Restricted Period with respect to any outstanding Restricted Stock Units, the Company shall deliver to the Participant, or his beneficiary, without charge, one share of Stock for each such outstanding Restricted Stock Unit (“Vested Unit”) and cash equal to any Dividend Equivalents credited with respect to each such Vested Unit in accordance withSection 9(a)(iv) hereof and the interest thereon or, at the discretion of the Committee, in shares of Stock having a Fair Market Value equal to such Dividend Equivalents and interest thereon, if any; provided, however, that, if explicitly provided in the applicable Award Agreement, the Committee may, in its sole discretion, elect to (i) pay cash or part cash and part Stock in lieu of delivering only shares of Stock for Vested Units or (ii) delay the delivery of Stock (or cash or part Stock and part cash, as the case may be) beyond the expiration of the Restricted Period which shall be in a manner intended to comply with Section 409A of the Code. If a cash payment is made in lieu of delivering shares of Stock, the amount of such payment shall be equal to the Fair Market Value of the Stock as of the date on which the Restricted Period lapsed with respect to such Vested Unit.

(e)Stock Restrictions.Each certificate representing Restricted Stock awarded under the Plan shall bear a legend substantially in the form of the following until the lapse of all restrictions with respect to such Stock as well as any other information the Company deems appropriate:

THE SHARES OF STOCK REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO RESTRICTIONS ON TRANSFER SET FORTH IN THE BROADRIDGE FINANCIAL SOLUTIONS, INC. 2007 OMNIBUS AWARD PLAN (AMENDED AND RESTATED EFFECTIVE NOVEMBER 14, 2013) AND A CERTAIN RESTRICTED STOCK AWARD AGREEMENT BETWEEN BROADRIDGE FINANCIAL SOLUTIONS, INC. AND THE REGISTERED OWNER OF THIS CERTIFICATE (OR HIS PREDECESSOR IN INTEREST). SAID PLAN IS AVAILABLE FOR INSPECTION WITHOUT CHARGE AT THE PRINCIPAL OFFICE OF BROADRIDGE FINANCIAL SOLUTIONS, INC. AND COPIES THEREOF WILL BE FURNISHED WITHOUT CHARGE TO ANY OWNER OF SAID SHARES UPON REQUEST.

Stop transfer orders shall be entered with the Company’s transfer agent and registrar against the transfer of legended securities.

10. Stock Bonus Awards; Phantom Stock Awards

The Committee may issue Stock Bonus Awards in the form of unrestricted Stock, or other Awards denominated in Stock, under the Plan to Eligible Employees, Eligible Directors and Eligible Consultants, alone or in tandem with other Awards, in such amounts and subject to such terms and conditions as the Committee shall from time to time in its sole discretion determine.

The Committee may also issue Phantom Stock Awards under the Plan to Eligible Employees, Eligible Directors and Eligible Consultants, alone or in tandem with other Awards, in such amounts and subject to such terms and conditions as the Committee shall from time to time in its sole discretion determine.

Subject to the provisions of this Plan, the Committee shall, in its sole discretion, have authority to determine the Eligible Employees, Eligible Directors and Eligible Consultants to whom, and the time or times at which, such Stock Bonus Awards and Phantom Stock Awards shall be made, the number of shares of Common Stock with respect to which such Awards are granted, and all other conditions of the Awards. The Committee may also provide for the grant or vesting of such Awards upon the completion of a specified Performance Period.

The Committee may determine that a Stock Bonus Award or Phantom Stock Award shall be a Performance Compensation Award conditioned upon the attainment of Performance Goals and subject to the provisions ofSection 11 hereof.

11. Performance Compensation Awards

(a)General.The Committee shall have the authority, at the time of grant of any Award described inSections 7 through 10 (other than Options and Stock Appreciation Rights granted with an exercise price or grant price, as the case may be, equal to or greater than the Fair Market Value per share of Stock on the date of grant), to designate such Award as a Performance Compensation Award in order to qualify such Award as “performance-based compensation” under Section 162(m) of the Code. In addition, the Committee shall have the authority to make an award of a cash bonus or Phantom Stock Award to any Participant and designate such Award as a Performance Compensation Award in order to qualify such Award as “performance-based compensation” under Section 162(m).

(b)Eligibility.The Committee will, in its sole discretion, designate within the first 90 days of a Performance Period (or, if longer or shorter, within the maximum period allowed under Section 162(m) of the Code) which Participants will be eligible to receive Performance Compensation Awards in respect of such Performance Period. However, designation of a Participant eligible to receive an Award hereunder for a Performance Period shall not in any manner entitle the Participant to receive payment in respect of any Performance Compensation Award for such Performance Period. The determination as to whether or not such Participant becomes entitled to payment in respect of any Performance Compensation Award shall be decided solely in accordance with the provisions of thisSection 11. Moreover, designation of a Participant eligible to receive an Award hereunder for a particular Performance Period shall not require designation of such Participant eligible to receive an Award hereunder in any subsequent Performance Period and designation of one person as a Participant eligible to receive an Award hereunder shall not require designation of any other person as a Participant eligible to receive an Award hereunder in such period or in any other period.

(c)Discretion of Committee with Respect to Performance Compensation Awards.With regard to a particular Performance Period, the Committee shall have full discretion to select the length of such Performance Period, the type(s) of Performance Compensation Awards to be issued, the Performance Criteria that will be used to establish the Performance Goal(s), the kind(s) and/or level(s) of the Performance Goals(s) that is (are) to apply to the Company and the Performance Formula. Within the first 90 days of a Performance Period (or, if longer or shorter, within the maximum period allowed under Section 162(m) of the Code), the Committee shall, with regard to the Performance Compensation Awards to be issued for such Performance Period, exercise its discretion with respect to each of the matters enumerated in the immediately preceding sentence of thisSection 11(c) and record the same in writing.

(d)Payment of Performance Compensation Awards

(i)Condition to Receipt of Payment. Unless otherwise provided in the applicable Award Agreement, a Participant must be employed by the Company on the last day of a Performance Period to be eligible for payment in respect of a Performance Compensation Award for such Performance Period. Notwithstanding the foregoing, if an Award Agreement provides that a Participant will receive a Performance Compensation Award if the Participant incurs a Termination prior to the last day of the Performance Period, such Performance Compensation Award will be based on the actual achievement of the Performance Goals either through the end of the Performance Period or through the date of the Participant’s Termination, as determined by the Committee.

(ii)Limitation. A Participant shall be eligible to receive payment in respect of a Performance Compensation Award only to the extent that: (A) the Performance Goals for such period are achieved; and (B) the Performance Formula as applied against such Performance Goals determines that all or some portion of such Participant’s Performance Award has been earned for the Performance Period.

(iii)Certification. Following the completion of a Performance Period, the Committee shall review and certify in writing whether, and to what extent, the Performance Goals for the Performance Period have been achieved and, if so, calculate and certify in writing that amount of the Performance Compensation Awards earned

for the period based upon the Performance Formula. The Committee shall then determine the actual size of each Participant’s Performance Compensation Award for the Performance Period and, in so doing, may apply Negative Discretion in accordance withSection 11(d)(iv) hereof, if and when it deems appropriate.

(iv)Use of Discretion. In determining the actual size of an individual Performance Award for a Performance Period, the Committee may reduce or eliminate the amount of the Performance Compensation Award earned under the Performance Formula in the Performance Period through the use of Negative Discretion if, in its sole judgment, such reduction or elimination is appropriate. The Committee shall not have the discretion to (a) grant or provide payment in respect of Performance Compensation Awards for a Performance Period if the Performance Goals for such Performance Period have not been attained; or (b) increase a Performance Compensation Award above the maximum amount payable underSections 5(d) or 5(e) of the Plan.

(v)Timing of Award Payments. Performance Compensation Awards granted for a Performance Period shall be paid to Participants as soon as administratively practicable following completion of the certifications required by thisSection 11.

12. General

(a)Additional Provisions of an Award.Awards to a Participant under the Plan also may be subject to such other provisions (whether or not applicable to Awards granted to any other Participant) as the Committee determines appropriate, including, without limitation, provisions to assist the Participant in financing the purchase of Stock upon the exercise of Options (provided, that the Committee determines that providing such financing does not violate the Sarbanes-Oxley Act of 2002), adding dividend equivalent rights or other protections to Participants in respect of dividends paid on Stock underlying any Award, other than an Appreciation Award or a Performance Compensation Award until the performance criteria have been met and the Performance Compensation Award vests (in addition to those provisions ofSection 9 providing for the payment of dividends with respect to Restricted Stock and Dividend Equivalents with respect to Restricted Stock Units), provisions for the forfeiture of or restrictions on resale or other disposition of shares of Stock acquired under any Award, provisions giving the Company the right to repurchase shares of Stock acquired under any Award in the event the Participant elects to dispose of such shares, provisions allowing the Participant to elect to defer the receipt of payment in respect of Awards for a specified period or until a specified event, and provisions to comply with Federal and state securities laws and Federal and state tax withholding requirements;provided,however, that any such provision be designed in a manner intended to comply with Section 409A of the Code. Any such provisions shall be reflected in the applicable Award Agreement.

(b)Privileges of Stock Ownership.Except as otherwise specifically provided in the Plan, no person shall be entitled to the privileges of ownership in respect of shares of Stock which are subject to Awards hereunder until such shares have been issued to that person.

(c)Government and Other Regulations.The obligation of the Company to settle Awards in Stock shall be subject to all applicable laws, rules, and regulations, and to such approvals by governmental agencies as may be required. Notwithstanding any terms or conditions of any Award to the contrary, the Company shall be under no obligation to offer to sell or to sell, and shall be prohibited from offering to sell or selling, any shares of Stock pursuant to an Award unless such shares have been properly registered for sale pursuant to the Securities Act with the Securities and Exchange Commission or unless the Company has received an opinion of counsel, satisfactory to the Company, that such shares may be offered or sold without such registration pursuant to an available exemption therefrom and the terms and conditions of such exemption have been fully complied with. The Company shall be under no obligation to register for sale under the Securities Act any of the shares of Stock to be offered or sold under the Plan. If the shares of Stock offered for sale or sold under the Plan are offered or sold pursuant to an exemption from registration under the Securities Act, the Company may restrict the transfer of such shares and may legend the Stock certificates representing such shares in such manner as it deems advisable to ensure the availability of any such exemption.

(d)Tax Withholding.

(i) A Participant may be required to pay to the Company or any Affiliate, and the Company or any Affiliate shall have the right and is hereby authorized to withhold from any shares of Stock or other property deliverable under any Award or from any compensation or other amounts owing to a Participant, the amount (in cash, Stock or other property) of any required income tax withholding and payroll taxes in respect of an Award, its exercise, or any payment or transfer under an Award or under the Plan and to take such other action as may be necessary in the opinion of the Company to satisfy all obligations for the payment of such withholding and taxes.

(ii) Without limiting the generality of clause (i) above, the Committee may, in its sole discretion, permit a Participant to satisfy, in whole or in part, the foregoing withholding liability (but no more than the minimum required withholding liability) by having the Company withhold from the number of shares of Stock otherwise issuable pursuant to the exercise or settlement of the Award a number of shares with a Fair Market Value equal to such withholding liability (but no more than the minimum required withholding liability).

(e)Section 409A.Awards under the Plan are intended to comply with, or be exempt from, the applicable requirements of Section 409A of the Code and shall be limited, construed and interpreted in accordance with such intent. Although the Company does not guarantee any particular tax treatment, to the extent that any Award is subject to Section 409A of the Code, it shall be paid in a manner that is intended to comply with Section 409A of the Code, including regulations and any other guidance issued by the Secretary of the Treasury and the Internal Revenue Service with respect thereto. In no event whatsoever shall the Company be liable for any additional tax, interest or penalties that may be imposed on the Participant by Section 409A of the Code or any damages for failing to comply with Section 409A of the Code.

(f)No Guarantee of Tax Treatment.Notwithstanding anything herein to the contrary, a Participant shall be solely responsible for the taxes relating to the grant or vesting of, or payment pursuant to, any Award, and none of the Company, the Board or the Committee (or any of their respective members, officers or employees) guarantees any particular tax treatment with respect to any Award.

(g)Claim to Awards and Employment Rights.No employee of the Company or an Affiliate, or other person, shall have any claim or right to be granted an Award under the Plan or, having been selected for the grant of an Award, to be selected for a grant of any other Award. Neither the Plan nor any action taken hereunder shall be construed as giving any Participant any right to be retained in the employ or service of the Company or an Affiliate.

(h)Designation and Change of Beneficiary.Each Participant may file with the Committee a written designation of one or more persons as the beneficiary who shall be entitled to receive the amounts payable with respect to an Award, if any, due under the Plan upon his death. A Participant may, from time to time, revoke or change his beneficiary designation without the consent of any prior beneficiary by filing a new designation with the Committee. The last such designation received by the Committee shall be controlling;provided,however, that no designation, or change or revocation thereof, shall be effective unless received by the Committee prior to the Participant’s death, and in no event shall it be effective as of a date prior to such receipt. If no beneficiary designation is filed by a Participant, the beneficiary shall be deemed to be his or her spouse or, if the Participant is unmarried at the time of death, his or her estate.

(i)Payments to Persons Other Than Participants.If the Committee shall find that any person to whom any amount is payable under the Plan is unable to care for his affairs because of illness or accident, or is a minor, or has died, then any payment due to such person or his estate (unless a prior claim therefor has been made by a duly appointed legal representative) may, if the Committee so directs the Company, be paid to his spouse, child, relative, an institution maintaining or having custody of such person, or any other person deemed by the Committee to be a proper recipient on behalf of such person otherwise entitled to payment. Any such payment shall be a complete discharge of the liability of the Committee and the Company therefor.

(j)No Liability of Committee Members.No member of the Committee shall be personally liable by reason of any contract or other instrument executed by such member or on his behalf in his capacity as a member of the Committee nor for any mistake of judgment made in good faith, and the Company shall indemnify and hold harmless each member of the Committee and each other employee, officer or director of the Company to whom any duty or power relating to the administration or interpretation of the Plan may be allocated or delegated, against any cost or expense (including counsel fees) or liability (including any sum paid in settlement of a claim) arising out of any act or omission to act in connection with the Plan unless arising out of such person’s own fraud or willful bad faith;provided,however, that approval of the Board shall be required for the payment of any amount in settlement of a claim against any such person. The foregoing right of indemnification shall not be exclusive of any other rights of indemnification to which such persons may be entitled under the Company’s Articles of Incorporation or By-Laws, as a matter of law, or otherwise, or any power that the Company may have to indemnify them or hold them harmless.

(k)Governing Law.The Plan shall be governed by and construed in accordance with the internal laws of the State of Delaware applicable to contracts made and performed wholly within the State of Delaware.

(l)Funding.No provision of the Plan shall require the Company, for the purpose of satisfying any obligations under the Plan, to purchase assets or place any assets in a trust or other entity to which contributions are made or otherwise to segregate any assets, nor shall the Company maintain separate bank accounts, books, records or other evidence of the existence of a segregated or separately maintained or administered fund for such purposes. Participants shall have no rights under the Plan other than as unsecured general creditors of the Company, except that insofar as they may have become entitled to payment of additional compensation by performance of services, they shall have the same rights as other employees under general law.

(m)Nontransferability.

(i) Each Award shall be exercisable only by a Participant during the Participant’s lifetime, or, if permissible under applicable law, by the Participant’s legal guardian or representative. No Award may be assigned, alienated, pledged, attached, sold or otherwise transferred or encumbered by a Participant other than by will or by the laws of descent and distribution and any such purported assignment, alienation, pledge, attachment, sale, transfer or encumbrance shall be void and unenforceable against the Company or an Affiliate;provided that the designation of a beneficiary shall not constitute an assignment, alienation, pledge, attachment, sale, transfer or encumbrance.

(ii) Notwithstanding the foregoing, the Committee may, in its sole discretion, permit Awards other than Incentive Stock Options to be transferred by a Participant, without consideration, subject to such rules as the Committee may adopt consistent with any applicable Award Agreement to preserve the purposes of the Plan, to:

(A) any person who is a “family member” of the Participant, as such term is used in the instructions to Form S-8 (collectively, the “Immediate Family Members”);

(B) a trust solely for the benefit of the Participant and his or her Immediate Family Members;

(C) a partnership or limited liability company whose only partners or stockholders are the Participant and his or her Immediate Family Members; or

(D) any other transferee as may be approved either (a) by the Board or the Committee in its sole discretion, or (b) as provided in the applicable Award Agreement;

(each transferee described in clauses (A), (B), (C) and (D) above is hereinafter referred to as a “Permitted Transferee”);provided that the Participant gives the Committee advance written notice describing the terms and conditions of the proposed transfer and the Committee notifies the Participant in writing that such a transfer would comply with the requirements of the Plan.

(iii) The terms of any Award transferred in accordance with the immediately preceding sentence shall apply to the Permitted Transferee and any reference in the Plan, or in any applicable Award Agreement, to a Participant shall be deemed to refer to the Permitted Transferee, except that (A) Permitted Transferees shall not be entitled to transfer any Award, other than by will or the laws of descent and distribution; (B) Permitted Transferees shall not be entitled to exercise any transferred Option unless there shall be in effect a registration statement on an appropriate form covering the shares of Stock to be acquired pursuant to the exercise of such Option if the Committee determines, consistent with any applicable Award Agreement, that such a registration statement is necessary or appropriate, (C) the Committee or the Company shall not be required to provide any notice to a Permitted Transferee, whether or not such notice is or would otherwise have been required to be given to the Participant under the Plan or otherwise, and (D) the consequences of the Termination of the Participant’s employment by, or services to, the Company or an Affiliate under the terms of the Plan and the applicable Award Agreement shall continue to be applied with respect to the Participant, including, without limitation, that an Option shall be exercisable by the Permitted Transferee only to the extent, and for the periods, specified in the Plan and the applicable Award Agreement.

(n)Reliance on Reports.Each member of the Committee and each member of the Board shall be fully justified in acting or failing to act, as the case may be, and shall not be liable for having so acted or failed to act in good faith, in reliance upon any report made by the independent public accountant of the Company and its Affiliates and/or any other information furnished in connection with the Plan by any person or persons other than himself.

(o)Relationship to Other Benefits.No payment under the Plan shall be taken into account in determining any benefits under any pension, retirement, profit sharing, group insurance or other benefit plan of the Company except as otherwise specifically provided in such other plan.

(p)Expenses.The expenses of administering the Plan shall be borne by the Company and Affiliates.

(q)Pronouns.Masculine pronouns and other words of masculine gender shall refer to both men and women.

(r)Titles and Headings.The titles and headings of the sections in the Plan are for convenience of reference only, and in the event of any conflict, the text of the Plan, rather than such titles or headings shall control.

(s)Termination of Employment or Service.Unless an applicable Award Agreement provides otherwise, for purposes of the Plan, a person who transfers from employment or service with the Company to employment or service with an Affiliate or vice versa shall not be deemed to have terminated employment or service with the Company or an Affiliate.

(t)Severability.If any provision of the Plan or any Award Agreement is or becomes or is deemed to be invalid, illegal, or unenforceable in any jurisdiction or as to any person or Award, or would disqualify the Plan or any Award under any law deemed applicable by the Committee, such provision shall be construed or deemed amended to conform to the applicable laws, or if it cannot be construed or deemed amended without, in the determination of the Committee, materially altering the intent of the Plan or the Award, such provision shall be stricken as to such jurisdiction, person or Award and the remainder of the Plan and any such Award shall remain in full force and effect.

(u)Compliance with Applicable Law.Notwithstanding any provision in the Plan to the contrary, the Committee reserves the right to add any additional terms or provisions to any Award granted under the Plan that it in its sole discretion deems necessary or advisable in order that such Award complies with the legal requirements of any governmental entity to whose jurisdiction the Award is subject.

(v)No Dividends or Dividend Equivalents on Unvested Performance Awards. Notwithstanding any provision of the Plan to the contrary, no dividends or dividend equivalents shall be paid with respect to Awards that vest contingent on achievement of performance conditions prior to the vesting of such Awards.

13. Changes in Capital Structure

Awards granted under the Plan and any agreements evidencing such Awards, the maximum number of shares of Stock subject to all Awards stated inSection 5(a) and the maximum number of shares of Stock with respect to which any one person may be granted Awards during any period stated inSections 5(d) or 5(e) shall be subject to adjustment or substitution, in the manner determined by the Committee in its sole discretion, as to the number, price or kind of a share of Stock or other consideration subject to such Awards or as otherwise determined by the Committee to be equitable (i) in the event of changes in the outstanding Stock or in the capital structure of the Company by reason of stock or extraordinary cash dividends, stock splits, reverse stock splits, recapitalization, reorganizations, mergers, consolidations, combinations, exchanges, or other relevant changes in capitalization occurring after the Date of Grant of any such Award or (ii) in the event of any change in applicable laws or any change in circumstances which results in or would result in any substantial dilution or enlargement of the rights granted to, or available for, Participants, or which otherwise warrants equitable adjustment because it interferes with the intended operation of the Plan. Notwithstanding the preceding sentence, in the case of any event which affects the Stock and is considered an “equity restructuring” for purposes of the applicable accounting rules, the Committee shall make an adjustment to outstanding Awards in the manner described in the preceding sentence, and such adjustment shall be such that the benefits conferred upon Participant by outstanding Awards are intended to be neither increased nor decreased. Any adjustment in Incentive Stock Options under thisSection 13 shall be made only to the extent not constituting a “modification” within the meaning of Section 424(h)(3) of the Code, Treasury Regulation § 1.424-1(a) or Section 409A of the Code, and any adjustments under thisSection 13 shall be made in a manner which does not adversely affect the exemption provided pursuant to Rule 16b-3 under the Exchange Act. Further, with respect to Awards intended to qualify as “performance-based compensation” under Section 162(m) of the Code, such adjustments or substitutions shall be made only to the extent that the Committee determines that such adjustments or substitutions may be made without causing the Company to be denied a tax deduction on account of Section 162(m) of the Code. The Company shall give each Participant notice of an adjustment hereunder and, upon notice, such adjustment shall be conclusive and binding for all purposes.

Fractional shares of Common Stock resulting from any adjustment in Awards provided herein shall be aggregated until a fractional share remains, in which case such fractional share shall be payable in cash.

Notwithstanding the above, in the event of any of the following:

(a) The Company is merged or consolidated with another corporation or entity and, in connection therewith, consideration is received by stockholders of the Company in a form other than stock or other equity interests of the surviving entity;

(b) All or substantially all of the assets of the Company are acquired by another person;

(c) The reorganization or liquidation of the Company; or

(d) The Company shall enter into a written agreement to undergo an event described in clauses a, b or c above,

then the Committee may, in its discretion (i) upon at least 10 days advance notice to the affected persons, cancel any outstanding Awards and cause the holders thereof to be paid, in cash or stock, or any combination thereof, the value of such Awards based upon the price per share of Stock received or to be received by other stockholders of the Company in the event, including, without limitation, the cancellation of any Award without payment to the Participant, if the value of the Common Stock underlying such Award at the time of such event is less than the Fair Market Value of such Award on the Grant Date; or (ii) continue, assume or substitute any outstanding Award (or portion thereof) without a Participant’s consent, provided that any such assumption or substitution of a Stock Option or Stock Appreciation Right shall be structured in a manner intended to comply with Section 409A of the Code and the regulations thereunder. The terms of thisSection 13 may be varied by the Committee in any particular Award Agreement.

The existence of this Plan and the Awards granted hereunder shall not affect in any way the right or power of the Board or the stockholders of the Company to make or authorize (i) any adjustment, recapitalization, reorganization or other change in the Company’s capital structure or its business, (ii) any merger or consolidation of the Company or its Affiliates, (iii) any issuance of bonds, debentures, preferred or prior preference stock ahead of or affecting the Common Stock, (iv) the dissolution or liquidation of the Company or its Affiliates, (v) any sale or transfer of all or part of the assets or business of the Company or its Affiliates or (vi) any other corporate act or proceeding.

14. Effect of Change in Control

(a) The Committee may, but is not required to, provide in any particular Award Agreement:

(i) In the event of a Change in Control, notwithstanding any provision of the Plan or any applicable Award Agreement to the contrary, and either in or not in combination with another event such as a Termination of the applicable Participant by the Company without Cause, all Options and SARs subject to such Award shall become immediately exercisable with respect to 100 percent of the shares subject to such Option or SAR, and/or that the Restricted Period shall expire immediately with respect to 100 percent of such shares of Restricted Stock or Restricted Stock Units subject to such Award (including a waiver of any applicable Performance Goals) and, to the extent practicable, such acceleration of exercisability and expiration of the Restricted Period (as applicable) shall occur in a manner and at a time which allows affected Participants the ability to participate in the Change in Control transaction with respect to the Stock subject to their Awards.

(ii) In the event of a Change in Control, all incomplete Performance Periods in respect of such Award in effect on the date the Change in Control occurs shall end on the date of such change, and the Committee shall (A) determine the extent to which Performance Goals with respect to each such Award Period have been met based upon such audited or unaudited financial information then available as it deems relevant, (B) cause to be paid to the applicable Participant partial or full Awards with respect to Performance Goals for each such Award Period based upon the Participant’s actual attainment of Performance Goals, and (C) cause the Award, if previously deferred, to be settled in full as soon as possible in a manner that complies with Section 409A of the Code.

(b) In addition, in the event of a Change in Control, the Committee may in its discretion and upon at least 10 days’ advance notice to the affected persons, cancel any outstanding Awards and pay to the holders thereof, in cash or stock, or any combination thereof, the value of such Awards based upon the price per share of Stock received or to be received by other stockholders of the Company in the event;provided,however, that the Committee may, in its sole discretion, provide for the cancellation of any Awards without payment, if such price is less than the Fair Market Value of such Award on the date of grant. The obligations of the Company under the Plan shall be binding upon any successor corporation or organization resulting from the merger, consolidation or other reorganization of the Company, or upon any successor corporation or organization succeeding to substantially all of the assets and business of the Company. The Company agrees that it will make appropriate provisions for the preservation of Participants’ rights under the Plan in any agreement or plan which it may enter into or adopt to effect any such merger, consolidation, reorganization or transfer of assets.

15. Nonexclusivity of the Plan

Neither the adoption of this Plan by the Board nor the submission of this Plan to the stockholders of the Company for approval shall be construed as creating any limitations on the power of the Board to adopt such other incentive arrangements as it may deem desirable, including, without limitation, the granting of stock options otherwise than under this Plan, and such arrangements may be either applicable generally or only in specific cases.

16. Amendments and Termination

(a)Amendment of the Plan.The Board may amend, alter, suspend, discontinue, or terminate the Plan or any portion thereof at any time;provided, that any such amendment, alteration, suspension, discontinuance or termination that would impair the rights of any Participant or any holder or beneficiary of any Award theretofore granted shall not to that extent be effective without the consent of the affected Participant, holder or beneficiary; andprovided,further that no such amendment, alteration, suspension, discontinuation or termination shall be made without stockholder approval if such approval is necessary to comply with any tax or regulatory requirement applicable to the Plan (including as necessary to comply with any applicable stock exchange listing requirement, Rule 16b-3 under the Exchange Act or to the extent applicable to Incentive Stock Options, Section 422 of the Code or to prevent the Company from being denied a tax deduction on account of Section 162(m) of the Code) that would (i) increase the aggregate number of shares of Common Stock that may be issued under this Plan underSection 5 or the maximum individual Participant limitations inSections 5(d) and 5(e) (except, in each case, by operation ofSection 13); (ii) change the classification of Participants eligible to receive Awards under this Plan; or (iii) materially alter the Performance Criteria.

(b)Termination of the Plan.The expiration date of the Plan, on and after which no Awards may be granted hereunder, shall be August 1, 2023;provided,however, that the administration of the Plan shall continue in effect until all matters relating to Awards previously granted have been settled. Notwithstanding the foregoing, no Award (other than a Stock Option or Stock Appreciation Right) that is intended to be “performance-based” under Section 162(m) of the Code shall be granted on or after the fifth anniversary of the stockholder approval of the Plan unless the Performance Goals are reapproved (or other designated performance goals are approved) by the stockholders no later than the first stockholder meeting that occurs in the fifth year following the year in which stockholders approve the Performance Goals.

(c)Amendment of Award Agreements.The Committee may, to the extent consistent with the terms of any applicable Award Agreement and the Plan, waive any conditions or rights under, amend any terms of, or alter, suspend, discontinue, cancel or terminate, any Award theretofore granted or the associated Award Agreement, prospectively or retroactively;provided that any such waiver, amendment, alteration, suspension, discontinuance, cancellation or termination that would impair the rights of any Participant or any holder or beneficiary of any Award theretofore granted shall not to that extent be effective without the consent of the affected Participant, holder or beneficiary; and provided further that, without stockholder approval (i) no amendment or modification may reduce the Option Price of any Option or the Strike Price of any SAR or extend the maximum Option Period underSection 7(c); (ii) the Committee may not cancel, exchange or surrender any outstanding Option or SAR and replace it with cash, other Awards, or a new Option or SAR with a lower Option Price or Strike Price, as the case may be, in a manner which would either (A) (if the Company is subject to the reporting requirement of the Exchange Act) be reportable on the Company’s proxy statement as Options which have been “repriced” (as such term is used in Item 402 of Regulation S-K promulgated under the Exchange Act), or (B) result in any Option being accounted for under the “variable” method for financial statement reporting purposes; and (iii) the Committee may not take any other action which is considered a “repricing” for purposes of the stockholder approval rules of the applicable stock exchange on which the Stock is listed, if any, except that, in each case of (i), (ii) and (iii) adjustments or substitutions in accordance with Section 13 and Section 14 may be made.

* * *

As adopted by the Board of Directors of

BROADRIDGE FINANCIAL SOLUTIONS, INC.

at a meeting held on November 14, 2013.

 

 

 

 

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Broadridge Financial Solutions, Inc.

1981 Marcus Avenue, Lake Success, NY 11042

1 516 472 5400 l broadridge.com

 

  

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            LOGO

BROADRIDGE FINANCIAL SOLUTIONS, INC.

C/O INVESTOR RELATIONS

1981 MARCUS AVENUE

LAKE SUCCESS, NY 11042

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VOTE BY INTERNET THROUGH COMPUTER OR MOBILE DEVICE BEFORE THE MEETING DATE -www.proxyvote.com or scan the QR code above

Use the Internet to transmit your voting instructions up until 11:59 P.M. Eastern Time the day before the meeting date. Have your proxy card in hand when you access the website and follow the instructions to obtain your records and to create an electronic voting instruction form.

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Mark, sign and date your proxy card and return it in the postage-paid envelope we have provided or return it to Vote Processing, c/o Broadridge Financial Solutions, Inc., 51 Mercedes Way, Edgewood, NY 11717.

VOTE BY INTERNET DURING THE MEETING -www.virtualshareholdermeeting.com/br13br14

You may attend the Meeting on Thursday, November 14, 2013,13, 2014, at 10:00 A.M. Eastern Time via the Internet atwww.virtualshareholdermeeting.com/br13br14and vote during the Meeting using the 12-Digit Control Number.

VOTE CONFIRMATION

You may confirm that your instructions were received and included in the final tabulation to be issued at the Annual Meeting on Thursday, November 14, 2013,13, 2014, via the ProxyVote Confirmation link atwww.proxyvote.com by entering the information that is printed in the box marked by the arrowLOGO and following the instructions.instructions on the website. Vote Confirmation is available 24 hours after your vote is received beginning October 30, 2013,29, 2014, with the final vote tabulation available through January 14, 2014.13, 2015.

 

 

TO VOTE, MARK BLOCKS BELOW IN BLUE OR BLACK INK AS FOLLOWS:

 M63212-P43370M78819-P56252              KEEP THIS PORTION FOR YOUR RECORDS

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    BROADRIDGE FINANCIAL SOLUTIONS, INC.

 

The Board of Directors recommends a vote FOR the proposals regarding:

                
                

(1)     Election of nineeight nominees for membership on theCompany’s Board of Directors to serve until theAnnual Meeting of Stockholders in the year 20142015 anduntil their successors are duly elected and qualified

               
            
 Nominees:  For  Against  Abstain
 

1a.    Leslie A. Brun

  ¨  ¨  ¨
 

1b.   Richard J. Daly

  ¨  ¨  ¨
 

1c.    Robert N. Duelks

  ¨  ¨  ¨
 

1d.   Richard J. Haviland

  ¨  ¨  ¨
 

1e.    Sandra S. Jaffee

¨¨¨

1f.    Stuart R. Levine

  ¨  ¨  ¨
 

1g.1f.    Maura A. Markus

  ¨  ¨  ¨
 

1h.1g.   Thomas J. Perna

  ¨  ¨  ¨
 

1i.1h.   Alan J. Weber

  ¨  ¨  ¨
              
       For  Against  Abstain
(2) Advisory vote to approve the compensation of the Company’s Named Executive Officers (the Say on Pay Vote);¨¨¨

(3)    

To ratify the appointment of Deloitte & Touche LLP as the Company’s independent registered public accountants for the fiscal year ending June 30, 2014;

¨¨¨

(3)    

Approval of the Amendment2015; and Restatement of the Broadridge 2007 Omnibus Award Plan;

  ¨  ¨  ¨

(4)    

 

Advisory vote on the Company’s executive compensation (the Say on Pay Vote); and

¨¨¨

(5)    

To transact such other business as may properly come before the meeting and any adjournment or postponement thereof.

      
 

Please sign below exactly as the name(s) appear(s) on the stock certificate (as indicated hereon). If the shares are issued in the names of two or more persons, all such persons must sign the proxy.

   

 

  
      
Signature [PLEASE SIGN WITHIN BOX]     Date      
  
      

Signature (Joint Owners)

 Date      
 


October 4, 20133, 2014

Dear Stockholder:

You are cordially invited to attend the 20132014 Annual Meeting of Stockholders of Broadridge Financial Solutions, Inc. Our 20132014 Annual Meeting will be held on Thursday, November 14, 2013,13, 2014, at 10:00 A.M. Eastern Time. You will be able to attend the 20132014 Annual Meeting, vote and submit your questions during the meeting via live webcastthe Internet by visitingwww.virtualshareholdermeeting.com/br13br14.

It is important that your shares are voted. Please specify your choices by marking the appropriate boxes on the proxy form on the reverse side, and date, sign and return your proxy form in the enclosed, postage-paid return envelope as promptly as possible. Alternatively, you may vote by phonethe Internet or the Internet,telephone, as described on the reverse side. If you date, sign and return your proxy form without specifying your choices, your shares will be voted in accordance with the recommendation of the Company’s Board of Directors.

We will discuss the business of the Company during the meeting. I welcome your comments and suggestions and we will provide time during the meeting for questions submitted by stockholders via the Internet. I am very much looking forward to our 20132014 Annual Meeting of Stockholders.

 

Sincerely,

LOGO

LOGO

Richard J. Daly

President and Chief Executive OfficerOfficer

Important Notice Regarding the Availability of Proxy Materials for the Annual Meeting

The Notice and Proxy Statement and 20132014 Annual Report are available atwww.proxyvote.com.

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M63213-P43370M78820-P56252

 

 

LOGOLOGO

 

Proxy

 

This proxy is solicited on behalf of the Board of Directors

 

Properly executed proxies received by the day before the meeting date will be voted as marked and, if not marked, will be voted FOR the election of the nominees listed in the accompanying Proxy Statement and FOR proposals (2), and (3) and (4) as stated on the reverse side.side, and as determined by the appointed attorneys or proxies with respect to other matters that may properly come before the meeting.

 

The undersigned hereby appoints Richard J. Daly and John Hogan,Timothy C. Gokey, and each of them, attorneys and proxies with full power of substitution, in the name, place and stead of the undersigned, to vote as proxy at the 20132014 Annual Meeting of Stockholders of Broadridge Financial Solutions, Inc., to be held via live webcastthe Internet atwww.virtualshareholdermeeting.com/br13br14 on Thursday, November 14, 2013,13, 2014, at 10:00 A.M. Eastern Time, or at any adjournment or adjournments thereof, according to the number of votes that the undersigned would be entitled to cast if personally present.

 

If shares of Broadridge Financial Solutions, Inc. Common Stock are issued to or held for the account of the undersigned under employee plans and voting rights attach to such shares (any of such plans, a “Voting Plan”), then the undersigned hereby directs the respective fiduciary of each applicable Voting Plan to vote all shares of Broadridge Financial Solutions, Inc. Common Stock in the undersigned’s name and/or account under such Voting Plan in accordance with the instructions given herein, at the Annual Meeting and at any adjournments or postponements thereof, on all matters properly coming before the Annual Meeting, including but not limited to the matters set forth on the reverse side.

 

Either of said attorneys and proxies or substitutes, who shall be present at such meeting or at any adjournment or adjournments thereof, shall have all the powers granted to such attorneys and proxies.

 

Please date, sign and mail the proxy promptly in the self-addressed return envelope which requires no postage if mailed in the United States. When signing as an attorney, executor, administrator, trustee or guardian, please give your full title as such. If shares are held jointly, both owners should sign. Alternatively, you may vote by phone or the Internet, as described in the instructions on the reverse side.