UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

SCHEDULE 14A

Proxy Statement Pursuant to Section 14(a) of the

Securities Exchange Act of 1934

 

 

Filed by the Registrant  ☒                             Filed by a Party other than the Registrant  ☐

Check the appropriate box:

 

 Preliminary Proxy Statement
 Confidential, for Use of the Commission Only (as Permittedpermitted byRule 14a-6(e)(2))
 Definitive Proxy Statement
 Definitive Additional Materials
 Soliciting Material underPursuant to § 240.14a-12

CORELOGIC, INC.

(Name of Registrant as Specified Inin Its Charter)

N/A

(Name of Person(s) Filing Proxy Statement if Otherother than the Registrant)

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LOGO

PRELIMINARY PROXY STATEMENT SUBJECT TO COMPLETION


LOGODATED SEPTEMBER 14, 2020

March 19,[●], 2020

Dear Fellow Stockholders,Stockholder:

You are cordially invited to attend our annualA special meeting of stockholders (the “Special Meeting”) of CoreLogic, Inc. (the “Company” or “CoreLogic”) will be held at 2:00 [●] [a.m.]/[p.m. Pacific Time], local time, on Tuesday, April 28,November 17, 2020, at the executive offices of CoreLogic, Inc., located at 40 Pacifica, Irvine, California 92618. We have included a map and directions to our executive offices on the inside back cover of this proxy statement for your convenience.

[●]. Details regarding admission to the meeting and the business to be conducted are more fully described in the accompanying notice of annualspecial meeting to stockholders (the “Notice of Special Meeting”) and proxy statement. We have also made available a copy of our 2019 Annual Report to Stockholdersstatement on Schedule 14A (the “Annual Report”) with this proxy statement. We encourage you to read the Annual Report, which includes our audited financial statements and provides information about our business.

As in prior years, we have elected to provide access to our proxy materials over the Internet by mailing our stockholders a Notice of Internet Availability of Proxy Materials (the “Notice”“Proxy Statement”). The Proxy Statement and accompanying WHITE proxy card (the “WHITE Proxy Card”) are first being mailed to stockholders on or about [●], 2020.

We have called the Special Meeting to give our stockholders the opportunity to vote and express their views on a series of proposals described in the accompanying Notice providesof Special Meeting and Proxy Statement, each of which are opposed by the Company’s board of directors (the “Board”). The Board unanimously recommends that you vote today AGAINST all of the proposals on the enclosed WHITE Proxy Card, for the reasons discussed below and detailed in the Proxy Statement.

On June 26, 2020, the Board received an unsolicited, non-binding proposal from Senator Investment Group LP (together with its affiliates, “Senator”) and Cannae Holdings, Inc. (together with its affiliates, “Cannae”) to acquire all of the outstanding shares of the Company’s common stock, par value $0.00001 per share (the “Common Stock”), at a price of $65.00 per share in cash (the “Acquisition Proposal”). On July 6, 2020, the Board unanimously concluded, after consultation with its independent financial and legal advisors, that the Acquisition Proposal significantly undervalues CoreLogic, raises serious regulatory concerns and is not in the best interests of CoreLogic’s stockholders. On July 7, 2020, the Company informed Senator and Cannae of the Board’s decision to reject the Acquisition Proposal.

In connection with the Acquisition Proposal, Senator and Cannae have requested that certain proposals be presented to stockholders for them to consider and vote upon at a special meeting. Although the Board does not believe that approving these proposals is in the best interests of all of the Company’s stockholders, the Board determined to call the Special Meeting to provide our stockholders the opportunity to vote and express their views on the proposals set forth in the Proxy Statement.

CoreLogic has achieved great success under your Board. Fiscal year 2020 is on track to be a record year in profitability with strong growth. For the second quarter of fiscal year 2020 the Company outperformed its updated guidance and, based on its strong results, the Company also increased its guidance for fiscal year 2020. The Company also recently increased its share repurchase authority to $1 billion and expects to make share repurchases of $500 million in fiscal year 2020, $300 million in fiscal year 2021 and $200 million in fiscal year 2022. Additionally, in July 2020, the Company further increased its quarterly dividend by 50%, from $0.22 to $0.33 per share.

The proposals to be considered and voted upon at the Special Meeting, all of which your Board opposes, seek to (i) remove J. David Chatham, Douglas C. Curling, John C. Dorman, Paul F. Folino, Thomas C. O’Brien, Pamela H. Patenaude, Vikrant Raina, J. Michael Shepherd and David F. Walker from your Board, despite such directors (other than Pamela Patenaude, who joined the Board in June 2020) having been duly elected by our stockholders at our last annual meeting of stockholders less than five months ago, (ii) nominate nine nominees hand-picked by Senator and Cannae for appointment to your Board and (iii) amend certain provisions of the Company’s Amended and Restated Bylaws (the “Bylaws”). If appointed, Senator and Cannae’s hand-picked nominees would have control of your Board and would be positioned to consider and negotiate an acquisition proposal with Senator and Cannae, the very same entities that nominated and are soliciting votes for them. This would allow these nominees hand-picked by Senator and Cannae to, subject to their fiduciary duties, facilitate the acquisition of the Company by Senator and Cannae at a price and on terms comparable to the Acquisition Proposal that your duly elected, highly-qualified and independent Board has determined (i) significantly


undervalues the Company, (ii) raises serious regulatory concerns and (iii) is not in the best interests of the Company’s stockholders.

The Board believes that Senator and Cannae’s intent is to circumvent the Board’s business judgment and prevent the Company from executing on its current strategy—which the Board believes will generate value for the Company’s stockholders—and seize for Senator and Cannae value that rightly belongs to the Company’s stockholders.

The Board strongly believes that Senator and Cannae’s actions are not in the best interests of the Company and its stockholders, and unanimously recommends that you vote today AGAINST all of the proposals on the enclosed WHITE Proxy Card. You should read the Proxy Statement carefully, including the section of the Proxy Statement entitled “Reasons to Reject the Stockholder Proposals,” because it contains important information about why you should reject Senator and Cannae’s efforts to remove and replace nine of the Company’s directors and to amend the Bylaws. We ask stockholders to carefully consider the impact that the proposals could have on howthe value of your shares.

Your vote is important. Whether or not you plan to attend the Special Meeting, we hope you will submit your proxy as soon as possible. You may submit a proxy over the internet, by telephone or by signing, dating and returning the enclosed WHITE Proxy Card in the envelope provided. Information about each of these proxy submission methods is set forth in the accompanying Notice of Special Meeting and Proxy Statement.

As stockholders of the Company, Senator and Cannae do not have a fiduciary duty to act in the best interests of the Company’s stockholders (including when selecting nominees to serve on your Board, who also do not, and will not, have any such duty unless elected to the Board). We strongly urge you NOT to sign or return any [●] proxy card sent to you by Senator or Cannae. If you have previously signed a [●] proxy card sent to you by Senator or Cannae, you can obtain paper copiesrevoke that earlier proxy and vote by proxy AGAINST all of the proposals by signing, dating and returning the enclosed WHITE Proxy Card in the postage-paid envelope provided, by voting over the internet using the internet address on the WHITE Proxy Card or by voting by telephone using the toll-free number on the WHITE Proxy Card.

REGARDLESS OF THE NUMBER OF SHARES OF COMMON STOCK THAT YOU OWN, YOUR VOTE IS EXTREMELY IMPORTANT. PLEASE ACT TODAY AND MAKE YOUR VOICE HEARD REGARDING THE FUTURE OF YOUR COMPANY. Thank you for your consideration and your continuing support of our proxy materials if they so choose. This method expedites the receipt of your proxy materials, lowers the costs of our annual meeting and supports conservation of natural resources. If you would like more information, please see the Questions and Answers section of this proxy statement.

Thank you very much for your continued interest in CoreLogic.Company.

 

Paul F. Folino

 

  

Frank D. Martell

 

LOGOLOGO  LOGOLOGO

Chairman of the Board

  

President and Chief Executive Officer


PRELIMINARY PROXY STATEMENT SUBJECT TO COMPLETION

DATED SEPTEMBER 14, 2020

NOTICE OF SPECIAL MEETING OF STOCKHOLDERS

[●], 2020

TO OUR STOCKHOLDERS:

A special meeting of the stockholders of CoreLogic, Inc., a Delaware corporation (the “Company” or “CoreLogic”), will be held on Tuesday, November 17, 2020, at [●] [a.m.]/[p.m.], local time, at [●] (the “Special Meeting”), to consider and vote upon the following proposals, each of which is opposed by the Company’s board of directors (the “Board”):

1.

the repeal of each provision of, or amendment to, the Company’s Amended and Restated Bylaws (the “Bylaws”) adopted by the Board without the approval of the Company’s stockholders subsequent to July 6, 2020;

 

2.

the removal from office as directors of the Company of J. David Chatham, Douglas C. Curling, John C. Dorman, Paul F. Folino, Thomas C. O’Brien, Pamela H. Patenaude, Vikrant Raina, J. Michael Shepherd and David F. Walker, as well as any other person or persons elected or appointed to the Board without stockholder approval after June 18, 2020 and up to and including the date of the Special Meeting (other than the Senator and Cannae Nominees listed in the Nomination Proposal (as each is defined below)) (such directors, the “Incumbent Directors” and such proposal, the “Director Removal Proposal”);

3.

the nomination of W. Steve Albrecht, Martina Lewis Bradford, Gail Landis, Wendy Lane, Ryan McKendrick, Katherine “KT” Rabin, Sreekanth Ravi, Lisa Wardell and Henry W. “Jay” Winship (the “Senator and Cannae Nominees”) for appointment to the Board by the directors then in office, if and to the extent one or more of the Incumbent Directors is removed from the Board pursuant to the valid adoption of the Director Removal Proposal (the “Nomination Proposal”); and

4.

the amendment to Section 2.2 of Article II of the Bylaws, as set forth below, to add a new clause to Section 2.2 of Article II of the Bylaws (which shall be designated clause (b)) to provide mechanics for calling a special meeting of stockholders if no directors or less than a majority of directors are in office following the passing of the Director Removal Proposal:

“(b) Notwithstanding anything to the contrary set forth herein, unless otherwise specified by the Court of Chancery, the Chief Executive Officer or Secretary shall, within five (5) business days after the date on which the Court of Chancery issues an order requiring the Corporation to hold an election pursuant to Section 223 of the DGCL, call a special meeting of stockholders of the Corporation for the election of directors and deliver notice of such meeting as provided in Section 2.3 of this Article II. Any special meeting of stockholders of the Corporation so called shall be held at the place, date and time specified in the notice of such meeting and in accordance with applicable law (or, at such other place, date and time as may be specified by the Court of Chancery).”

These proposals are referred to herein collectively as the “Stockholder Proposals.”

In the event of the valid adoption of the Nomination Proposal, pursuant to Section 5.2 of CoreLogic’s Amended and Restated Certificate of Incorporation and Section 3.3 of the Bylaws, the directors remaining in office will, subject to applicable law, fill any vacancies on the Board resulting from removals from among the Senator and Cannae Nominees, if any, who have received the affirmative vote of the holders of a majority in voting power of the Company’s stock entitled to vote thereon, present in person or represented by proxy at the Special Meeting (the “Eligible Nominees”). If the number of Eligible Nominees exceeds the number of vacancies on the Board resulting from removals, the Board will fill such vacancies with the Eligible Nominees receiving

i


NOTICE OF ANNUAL MEETING OF STOCKHOLDERSthe highest number of affirmative votes, subject to applicable law, or, in the event of a tie, the Board shall determine which of the Eligible Nominees receiving the highest number of affirmative votes will fill such vacancies. The Board is not currently aware of any facts that would prevent any of the Senator and Cannae Nominees from being appointed under applicable law.

The Company’s proxy statement accompanying this Notice of Special Meeting describes each of these proposals in more detail. Your Board unanimously recommends that you vote today AGAINST all of the Stockholder Proposals on the enclosed WHITE proxy card (the “WHITE Proxy Card”).

Date and Time

  April 28, 2020

  2:00 p.m. Pacific Time

Place

  CoreLogic, Inc.

  40 Pacifica,

  Irvine, CA 92618

Matters to be voted on at the 2020 Annual Meeting

The Stockholder Proposals are the only proposals to be acted upon at the Special Meeting. In accordance with Section 2.10(b) of Article II of the Bylaws, no other business will be conducted. Stockholders

1.  To elect the twelve persons named in the accompanying proxy statement to serve on our board of directors until the next annual meeting and until their respective successors are duly elected and qualified;

2.  To approve, on an advisory basis, the compensation of our named executive officers;

3.  To ratify the selection of PricewaterhouseCoopers LLP as our independent registered public accounting firm for the fiscal year ending December 31, 2020; and

4.  To transact such other business as may properly come before the meeting or any postponements or adjournments thereof.

Record Date    Only stockholders of record at the close of business on March 4,September 18, 2020 (the “Record Date”) are entitled to notice of, and to vote at, the AnnualSpecial Meeting and any adjournments or postponements thereof.

All stockholders as of the close of business on the Record Date are cordially invited to attend the Special Meeting in person. If you are a stockholder of record you must bring proof of identification in order to be admitted to the Special Meeting.

How to Vote Your Shares

By Internet: Visit the website listed on your proxy card, notice or voting instruction form

By Telephone: Call the phone number listed on your proxy card or voting instruction form

By Mail: Complete, sign, date, and return your proxy card or voting instruction form in the envelope provided

In Person:Attend our Annual Meeting and vote by ballot

If you hold your shares through a broker, bank or other nominee, you will need to provide proof of ownership as of the Record Date – for example a copy of a brokerage statement showing your share ownership – and proof of identification in order to be admitted to the Special Meeting. We currently plan to hold the Special Meeting in person. However, as part of our contingency planning regarding the novel coronavirus (COVID-19), we are preparing for the possibility that the Special Meeting may be held by means of remote communication (sometimes referred to as a “virtual” meeting). If we take this step, we will announce the decision to do so as soon as practicable before the Special Meeting through a press release and public filing with the Securities and Exchange Commission (the “SEC”), and details will be available for viewing under the “Investor Relations” section of our website at https://investor.corelogic.com. We recommend that you monitor this website for updated information and registration details in the event we determine to convert to a virtual meeting and you elect to participate remotely. Your Vote is Very Important    Even ifWhether or not you plan to attend the AnnualSpecial Meeting, we encourageurge you to review these materials carefully and to vote via the Internet, by proxy by internet, telephone, or by mailsubmitting your WHITE Proxy Card as soonpromptly as possiblepossible.

YOUR BOARD STRONGLY URGES YOU NOT TO SIGN OR RETURN ANY [] PROXY CARD SENT TO YOU BY SENATOR OR CANNAE.

If you have previously signed a [●] proxy card sent to ensureyou by Senator or Cannae, you can revoke that earlier proxy and vote by proxy AGAINSTall ofthe Stockholder Proposals by voting over the internet using the website indicated on the WHITE Proxy Card, by voting by telephone using the toll-free number on the WHITE Proxy Card, or by signing, dating and returning the WHITE Proxy Card in the postage-paid envelope provided. Only your shares are representedlast-dated proxy will be counted, and any proxy may be revoked at any time prior to its exercise at the AnnualSpecial Meeting. We look forward to seeing you atPlease act today and make your voice heard regarding the Annual Meeting.future of your Company.

By Order of the Board of Directors,

 

 

LOGO

Francis Henry Aaron Henry

Chief Legal Officer and

Corporate Secretary

Irvine, California

March 19,[●], 2020

 

ii

Important Notice Regarding the Availability of Proxy Materials

for the Annual Meeting of Stockholders to be held on April 28, 2020

Our Notice of Annual Meeting of Stockholders, Proxy Statement and Annual Report to Stockholders for the
year ended December 31, 2019 are available atwww.viewproxy.com/corelogic/2020. You are encouraged to
access and review all important information contained in our proxy materials before voting.


IMPORTANT

Your vote is extremely important. Whether or not you plan to attend the Special Meeting and regardless of the number of shares you own, we urge you to vote promptly by proxy AGAINST all of the Stockholder Proposals.

If you have any questions about submitting your WHITE Proxy Card or otherwise require assistance, please contact:

LOGO

501 Madison Avenue, 20th Floor

New York, New York 10022

TOLL-FREE at (877) 750-9498 (from the U.S. and Canada)

or +1 (412) 232-3651 (from other locations)

iii


PRELIMINARY PROXY STATEMENT SUBJECT TO COMPLETION

DATED SEPTEMBER 14, 2020

CORELOGIC, INC.

40 Pacifica

Irvine, California 92618

SPECIAL MEETING OF STOCKHOLDERS TO BE HELD ON NOVEMBER 17, 2020

PROXY STATEMENT

This proxy statement filed on Schedule 14A (this “Proxy Statement”) and the enclosed WHITE proxy card (the “WHITE Proxy Card”) are furnished by the Board of Directors (the “Board” or “Board of Directors”) of CoreLogic, Inc., a Delaware corporation (the “Company,” “CoreLogic,” “we,” “us,” or “our”), to the holders of outstanding shares of the Company’s common stock, par value $0.00001 per share (the “Common Stock”), for use at the special meeting of stockholders (the “Special Meeting”) to be held at [●] [a.m.]/[p.m.], local time, on Tuesday, November 17, 2020, at [●], and at any adjournments or postponements thereof.

This Proxy Statement and the enclosed WHITE Proxy Card are first being mailed to stockholders on or about [●], 2020.

On June 26, 2020, the Board received an unsolicited, non-binding proposal from Senator Investment Group LP (together with its affiliates, “Senator”) and Cannae Holdings, Inc. (together with its affiliates, “Cannae”), to acquire all of the outstanding shares of Common Stock at a price of $65.00 per share in cash (the “Acquisition Proposal”). On July 6, 2020, the Board unanimously concluded, after consultation with its independent financial and legal advisors, that the Acquisition Proposal significantly undervalues CoreLogic, raises serious regulatory concerns and is not in the best interests of CoreLogic’s stockholders. On July 7, 2020, the Company informed Senator and Cannae of the Board’s decision to reject the Acquisition Proposal.

In connection with the Acquisition Proposal, Senator and Cannae have requested that certain proposals be presented to stockholders for them to consider and vote upon at a special meeting. Although the Board does not believe that approving these proposals is in the best interests of all of the Company’s stockholders, the Board determined to call the Special Meeting to provide our stockholders the opportunity to vote and express their views on the proposals set forth in the Proxy Statement.

YOUR BOARD UNANIMOUSLY RECOMMENDS THAT YOU VOTE AGAINSTALL OF THE PROPOSALS SET FORTH IN THIS PROXY STATEMENT ON THE ENCLOSED WHITE PROXY CARD AND URGES YOU NOT TO SIGN OR RETURN ANY [●] PROXY CARD SENT TO YOU BY SENATOR OR CANNAE. YOUR BOARD, WHICH IS COMPOSED ENTIRELY OF INDEPENDENT DIRECTORS (OTHER THAN THE COMPANY’S CHIEF EXECUTIVE OFFICER), IS COMMITTED TO ACTING IN THE BEST INTERESTS OF ALL OF THE COMPANY’S STOCKHOLDERS.

If you have previously signed a [●] proxy card sent to you by Senator or Cannae, you can revoke that earlier proxy and vote by proxyAGAINST all of the matters to be voted on at the Special Meeting by signing, dating and returning the enclosed WHITE Proxy Card in the enclosed postage-paid envelope, by voting over the internet using the internet address on the WHITE Proxy Card or by voting by telephone using the toll-free number on the WHITE Proxy Card. Only your last-dated proxy will be counted, and any proxy may be revoked at any time prior to its exercise at the Special Meeting.

If your shares are held in street name through a broker, bank or other nominee, you are considered the beneficial owner of those shares. As the beneficial owner, you have the right to direct your broker, bank or other nominee how to vote your shares. Without your voting instructions, because of the non-routine nature of the proposals, your broker, bank or other nominee may not vote your shares with respect to any of the proposals. We encourage you to instruct your broker, bank or other nominee to vote your shares AGAINST all of the proposals set forth in this Proxy Statement by following the directions on the enclosed WHITE voting instruction form to provide your instructions over the internet, by telephone or by signing, dating and returning the WHITE voting instruction form in the postage-paid envelope provided.

In accordance with Delaware law and the Company’s Amended and Restated Bylaws (the “Bylaws”), the Board has set the close of business on September 18, 2020 as the record date (the “Record Date”) for the determination of the Company’s stockholders who are entitled to notice of, and to vote at, the Special Meeting. Stockholders of record at the close of business on the Record Date are entitled to notice of, and to vote at, the Special Meeting and any adjournments or postponements thereof. At the close of business on the Record Date, [●] shares of our Common Stock were outstanding and entitled to vote. Stockholders are entitled to one vote for each share of Common Stock held.

If you have any questions about submitting your WHITE Proxy Card or otherwise require assistance, please contact:

LOGO

501 Madison Avenue, 20th Floor

New York, New York 10022

TOLL-FREE at (877) 750-9498 (from the U.S. and Canada)

or +1 (412) 232-3651 (from other locations)

TABLE OF CONTENTS

 

Proxy Statement Summary

1

Proposal 1 – Election of DirectorsForward-Looking Statements

  

6

4

Proposal 2 – Advisory Vote to Approve Named Executive Officer CompensationDescription of the Stockholder Proposals

  

13

5

Proposal 3 – Ratification of Selection of Independent Registered Public Accounting FirmReasons to Reject the Stockholder Proposals

  

14

8

Stockholder Proposal 1 Repeal Proposal

14

Stockholder Proposal 2 Director Removal Proposal

14

Stockholder Proposal 3 Nomination Proposal

16

Stockholder Proposal 4 Bylaw Amendment Proposal

17

Background of the Solicitation

19

Questions and Answers About the Special Meeting

25

Special Meeting Procedures

30

Participants in the Solicitation

33

Solicitation of Proxies

33

Directors of the Company

34

Named Executive Officers of the Company

43

Certain Relationships and Related Transactions

44

Corporate Governance

45

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

17

Corporate Governance and Board Matters

21

Director Compensation

30

Executive Officers

32

Compensation Discussion and Analysis

33

Compensation Committee Report

  

54

53

Compensation Committee Interlocks and Insider Participation

54

Executive Compensation Tables

55

2019 Summary Compensation Table

55

Grants of Plan-Based Awards for 2019

57

EmploymentCertain Agreements

  

58

Outstanding Equity Awards at Fiscal Year End 2019

55
 

59

Pension Benefits for 2019

61

Nonqualified Deferred Compensation for 2019

64

Potential Payments uponUpon Termination or Change in Control

  

66

57

Pay Ratio Disclosure

68

Questions and Answers about Voting

69

Certain Potential Consequences of the Stockholder Proposals

74

General Information

75

Corporate Social Responsibility

76

Appendix A: Unaudited Reconciliation ofNon-GAAP Financial Measures

A-1

Map and Directions to Meeting Site

   60

Appraisal Rights

63

Stockholder List

63

Other Matters

64

Stockholder Proposals

64

Householding of Proxy Statement

64

Where You Can Find More Information

64

Appendix A to Proxy Statement Additional Information Regarding Participants in the Solicitation

A-1

Appendix B to the Proxy Statement Certain Information Regarding the Senator and Cannae Nominees

B-1

Safe Harbor / Forward Looking StatementsFORWARD-LOOKING STATEMENTS

Certain statements made in this proxy statementProxy Statement are forward-looking statements within the meaning of the federal securities laws.laws, including but not limited to those statements related to expected financial results, including in the second half of fiscal year 2020 and fiscal years 2021 and 2022, overall mortgage market volumes, market opportunities, stockholder value creation, repurchases of our shares, our strategic plans or growth strategy, and the near and long term consequences of the Acquisition Proposal we received from Senator and Cannae. Risks and uncertainties exist that may cause the results to differ materially from those set forth in these forward-looking statements. Factors that could cause the anticipated results to differ from those described in the forward-looking statements include the risks and uncertainties set forth in Part I, Item 1A of our most recent Annual Report on Form10-K.10-K and Part II, Item 1A of our most recent Quarterly Report on Form 10-Q, as such risk factors may be amended, supplemented, or superseded from time to time by other reports we file with the Securities and Exchange Commission (the “SEC”). These risks and uncertainties include but are not limited to: any potential developments related to the Acquisition Proposal; any impact resulting from COVID-19; our ability to protect our information systems against data corruption, cyber-based attacks or network security breaches; limitations on our ability to repurchase our shares; changes in prices at which we are able to repurchase our shares; limitations on access to or increase in prices for data from external sources, including government and public record sources; systems interruptions that may impair the delivery of our products and services; changes in applicable government legislation, regulations and the level of regulatory scrutiny affecting our customers or us, including with respect to consumer financial services and the use of public records and consumer data; systems interruptions that may impair the delivery of our products and services; difficult conditions in the mortgage and consumer lending industries and the economy generally; risks related to the outsourcing of services and international operations; our ability to realize the anticipated benefits of certain acquisitions and/or divestitures and the timing thereof; and impairments in our goodwill or other intangible assets.assets; and our ability to generate sufficient cash to service our debt. The forward-looking statements speak only as of the date they are made. The Company does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.


PROXY STATEMENT SUMMARYDESCRIPTION OF THE STOCKHOLDER PROPOSALS

This summary highlightsThe Special Meeting is being held to consider and vote upon the proposals below, all of which are opposed by the Board. While the Board opposes the proposals, it has called the Special Meeting in order to allow stockholders to consider and vote upon the following proposals:

1.

the repeal of each provision of, or amendment to, the Bylaws adopted by the Board without the approval of the Company’s stockholders subsequent to July 6, 2020 (“Proposal 1” or the “Repeal Proposal”);

2.

the removal from office as directors of the Company of J. David Chatham, Douglas C. Curling, John C. Dorman, Paul F. Folino, Thomas C. O’Brien, Pamela H. Patenaude, Vikrant Raina, J. Michael Shepherd and David F. Walker, as well as any other person or persons elected or appointed to the Board without stockholder approval after June 18, 2020 and up to and including the date of the Special Meeting (other than the Senator and Cannae Nominees in the Nomination Proposal (each, as defined below)) (such directors, the “Incumbent Directors” and such proposal, “Proposal 2” or the “Director Removal Proposal”);

3.

the nomination of W. Steve Albrecht, Martina Lewis Bradford, Gail Landis, Wendy Lane, Ryan McKendrick, Katherine “KT” Rabin, Sreekanth Ravi, Lisa Wardell and Henry W. “Jay” Winship (the “Senator and Cannae Nominees”) for appointment to the Board by the directors then in office, if and to the extent one or more of the Incumbent Directors is removed from the Board pursuant to the valid adoption of the Director Removal Proposal (“Proposal 3” or the “Nomination Proposal”); and

4.

the amendment to Section 2.2 of Article II of the Bylaws, as set forth below, to add a new clause to Section 2.2 of Article II of the Bylaws (which shall be designated clause (b)) to provide mechanics for calling a special meeting of stockholders if no directors or less than a majority of directors are in office following the passing of the Director Removal Proposal:

“(b) Notwithstanding anything to the contrary set forth herein, unless otherwise specified by the Court of Chancery, the Chief Executive Officer or Secretary shall, within five (5) business days after the date on which the Court of Chancery issues an order requiring the Corporation to hold an election pursuant to Section 223 of the DGCL, call a special meeting of stockholders of the Corporation for the election of directors and deliver notice of such meeting as provided in Section 2.3 of this Article II. Any special meeting of stockholders of the Corporation so called shall be held at the place, date and time specified in the notice of such meeting and in accordance with applicable law (or, at such other place, date and time as may be specified by the Court of Chancery)” (“Proposal 4” or the “Bylaw Amendment Proposal”).

The Repeal Proposal, the Director Removal Proposal, the Nomination Proposal and the Bylaw Amendment Proposal are referred to herein collectively as the “Stockholder Proposals.”

In the event of the valid adoption of the Nomination Proposal, pursuant to Section 5.2 of CoreLogic’s Amended and Restated Certificate of Incorporation (the “Charter”) and Section 3.3 of the Bylaws, the directors remaining in office will, subject to applicable law, fill any vacancies on the Board resulting from removals from among the Senator and Cannae Nominees, if any, who have received the affirmative vote of the holders of a majority in voting power of the Company’s stock entitled to vote thereon, present in person or represented by proxy at the Special Meeting (the “Eligible Nominees”). If the number of Eligible Nominees exceeds the number of vacancies on the Board resulting from removals, the Board will fill such vacancies with the Eligible Nominees receiving the highest number of affirmative votes, subject to applicable law, or, in the event of a tie, the Board shall determine which of the Eligible Nominees receiving the highest number of affirmative votes will fill such vacancies. The Board is not currently aware of any facts that would prevent any of the Senator and Cannae Nominees from being appointed under applicable law.

For additional information regarding the Senator and Cannae Nominees, please refer to Appendix B to this Proxy Statement. The information set forth in Appendix B regarding the Senator and Cannae Nominees is based

on information contained elsewhere in the definitive solicitation statement filed by Senator and Cannae with the SEC on August 19, 2020, as amended (the “Senator and Cannae Solicitation Statement”), and information provided to the Company by Senator and Cannae. The incorporation of this proxy statement. Itinformation in Appendix B to this Proxy Statement should not be construed as an admission by the Company that such information is accurate, and the Company does not contain undertake any obligation to update such information.

A vote in favor of the Stockholder Proposals would be a vote to remove your duly elected, highly-qualified and independent Incumbent Directors and replace them with the Senator and Cannae Nominees, who would then compose a majority of and control your Board. The Senator and Cannae Nominees would be positioned to consider and negotiate an acquisition proposal with Senator and Cannae, the very same entities that nominated and are soliciting votes for them. This would allow these hand-picked Senator and Cannae Nominees to, subject to their fiduciary duties, facilitate the acquisition of the Company by Senator and Cannae at a price and on terms comparable to the Acquisition Proposal, which your duly elected, highly-qualified and independent Board has determined (i) significantly undervalues the Company, (ii) raises significant regulatory concerns and (iii) is not in the best interests of the Company’s stockholders. Senator and Cannae have no duty to act in the best interests of the Company’s stockholders (including in selecting the Senator and Cannae Nominees that Senator and Cannae are proposing be appointed to your Board).

YOUR BOARD UNANIMOUSLY RECOMMENDS THAT YOU VOTE AGAINST ALL OF THE STOCKHOLDER PROPOSALS ON THE ENCLOSED WHITE PROXY CARD AND URGES YOU NOT TO SIGN OR RETURN ANY [●] PROXY CARD SENT TO YOU BY SENATOR OR CANNAE. YOUR BOARD, WHICH IS COMPOSED ENTIRELY OF INDEPENDENT DIRECTORS (OTHER THAN THE COMPANY’S CHIEF EXECUTIVE OFFICER), IS COMMITTED TO ACTING IN THE BEST INTERESTS OF ALL OF THE COMPANY’S STOCKHOLDERS.

If you have previously signed a [●] proxy card sent to you by Senator or Cannae, you can revoke that earlier proxy and vote by proxy AGAINSTall of the information that you should considerStockholder Proposals by voting over the internet using the website indicated on the WHITE Proxy Card, by voting by telephone using the toll-free number on the WHITE Proxy Card, or by signing, dating and returning the enclosed WHITE Proxy Card in the postage-paid envelope provided. Only your last-dated proxy will be counted, and any proxy may be revoked at any time prior to castingits exercise at the Special Meeting. Please act today and make your voice heard regarding the future of your Company.

If your shares are held in street name through a broker, bank or other nominee, you are considered the beneficial owner of those shares. As the beneficial owner, you have the right to direct your broker, bank or other nominee how to vote your shares. Without your voting instructions, because of the non-routine nature of the Stockholder Proposals, your broker, bank or other nominee may not vote your shares with respect to any of the Stockholder Proposals. We encourage you to instruct your broker, bank or other nominee to vote your sharesAGAINSTall ofthe Stockholder Proposals by following the directions on the enclosed WHITE voting instruction form to provide your instructions over the internet, by telephone or by signing, dating and returning the WHITE voting instruction form in the postage-paid envelope provided.

In accordance with Delaware law and the Bylaws, the Board has set the close of business on September 18, 2020 as the Record Date for the determination of the Company’s stockholders who are entitled to notice of, and to vote at, the Special Meeting. Stockholders of record at the close of business on the Record Date are entitled to notice of, and to vote at, the Special Meeting and any adjournments or postponements thereof. At the close of business on the Record Date, [●] shares of our Common Stock were outstanding and entitled to vote. Stockholders are entitled to one vote for each share of Common Stock held.

All stockholders as of the close of business on the Record Date are cordially invited to attend the Special Meeting in person. If you are a stockholder of record you must bring proof of identification in order to be admitted to the Special Meeting. If you hold your shares through a broker, bank or other nominee, you will need

to provide proof of ownership as of the Record Date – for example a copy of a brokerage statement showing your share ownership – and proof of identification in order to be admitted to the Special Meeting. Please note that participants in our 401(k) Savings Plan (the “401(k) Plan”) may not vote their plan shares by ballot at the Special Meeting, but may provide voting instructions to Fidelity Management Trust Company by [●], 2020 at [●] [a.m./p.m.] [Eastern Time]. See “How are my shares in the Company’s 401(k) Plan voted?” in the section of this Proxy Statement entitled “Questions and Answers About the Special Meeting” for more information.

We currently plan to hold the Special Meeting in person. However, as part of our contingency planning regarding the novel coronavirus (COVID-19), we are preparing for the possibility that the Special Meeting may be held by means of remote communication (sometimes referred to as a “virtual” meeting). If we take this step, we will announce the decision to do so as soon as practicable before the Special Meeting through a press release and public filing with the SEC, and details will be available for viewing under the “Investor Relations” section of our website at https://investor.corelogic.com. We recommend that you monitor this website for updated information, and please check the website in advance of the Special Meeting to confirm the status of the Special Meeting and registration details in the event we determine to convert to a virtual meeting and you elect to participate remotely. Whether or not you plan to attend the Special Meeting, we urge you to review these materials carefully and to vote by proxy by internet, telephone or by submitting your WHITE Proxy Card as promptly as possible.

If you have any questions about submitting your WHITE Proxy Card or otherwise require assistance, please contact:

LOGO

501 Madison Avenue, 20th Floor

New York, New York 10022

TOLL-FREE at (877) 750-9498 (from the U.S. and Canada)

or +1 (412) 232-3651 (from other locations)

REASONS TO REJECT THE STOCKHOLDER PROPOSALS

The reasons your Board recommends that you reject the Stockholder Proposals are set forth below.

Senator and Cannae Seek to Seize Control of the Board to Facilitate Their Opportunistic Acquisition Proposal to Cash Out the Company’s Stockholders at a Price Your Duly Elected, Highly-Qualified and Independent Board Has Determined Significantly Undervalues the Company.

Your duly elected, highly-qualified and independent Board thoroughly evaluated the Acquisition Proposal and unanimously concluded that it (i) significantly undervalues the Company, (ii) raises serious regulatory concerns and (iii) is not in the best interests of CoreLogic stockholders. The Board is comprised of independent directors with track records of successfully evaluating and executing public mergers and acquisitions (“M&A”) transactions. Eight of our 12 directors have previous M&A experience at public companies, including at Pinnacle Entertainment, Microsemi, LifeLock and aQuantive and, collectively, the Board has over $20 billion of prior public M&A experience. Following Senator and Cannae’s public announcement of the Acquisition Proposal, the Board conducted a careful review with the assistance of experienced financial and legal advisors and concluded that the Acquisition Proposal (i) significantly undervalues the Company, (ii) raises serious regulatory concerns and (iii) is not in the best interests of the Company’s stockholders.

Senator and Cannae themselves appear to recognize that CoreLogic shares are worth more than $65.00 per share since they acquired additional shares at prices above the Acquisition Proposal offer price. In the press release they issued pre-market on June 26, 2020 announcing the Acquisition Proposal (the “Acquisition Proposal Press Release”), Senator and Cannae stated they had economic exposure to shares representing 15% of the outstanding Common Stock; however, as evidenced by Senator and Cannae’s Schedule 13D, filed with the SEC four days later on June 30, 2020, as amended (the “Senator and Cannae 13D”), Senator and Cannae acquired 2,436,190 shares of Common Stock and entered into forward purchase contracts (representing approximately 3% of the outstanding shares of Common Stock) after issuing the Acquisition Proposal Press Release, at prices as high as $68.27 (which is $3.27 higher than the price they have offered pursuant to the Acquisition Proposal).

Your Board believes the timing of the Acquisition Proposal is highly opportunistic. Your Board believes that the Acquisition Proposal is opportunistically timed to acquire CoreLogic at a low valuation and then take all the upside that is rightfully yours. The Acquisition Proposal, which was announced on June 26, 2020, does not take into account that the Company increased its second quarter guidance for fiscal year 2020 on June 25, 2020 or that, on July 7, 2020, building off multiple quarters of strong results, the Company issued increased full year guidance for fiscal year 2020. In addition, the Acquisition Proposal does not take into consideration that on July 7, 2020, the Company issued guidance for fiscal year 2021 and fiscal year 2022, reflecting market share gains, major new business wins and the latest estimates of housing market activity, or that on July 23, 2020, the Company announced that it beat its updated second quarter guidance for fiscal year 2020 and further increased its full year guidance for fiscal year 2020. We believe that Cannae, through its affiliated and/or associated companies in the housing finance space, understands the rapidly improving dynamics underlying CoreLogic’s business and timed its unsolicited approach to get ahead of this inflection point.

Senator and Cannae’s claims about a premium are misleading. Senator and Cannae have consistently referenced the Company’s share price on June 15, 2020 when calculating the premium offered by their $65.00 per share Acquisition Proposal, instead of acknowledging that the Company’s share price traded up 9% to $57.80 after the market closed on June 25, 2020, following the release of increased guidance for the second quarter of fiscal year 2020 and before Senator and Cannae publicly announced the Acquisition Proposal the next morning. Moreover, given the guidance we have provided following June 26, 2020, the Acquisition Proposal effectively provides no takeover premium—at our forward multiple of approximately 11.3x just before Senator and Cannae publicly announced the Acquisition Proposal, the Acquisition Proposal effectively reflects no premium to the implied stock price based on

our current guidance. The Acquisition Proposal valued the Company at 13x our previous adjusted EBITDA guidance for fiscal year 2020 at the time the Acquisition Proposal was made. If you apply that same 13x adjusted EBITDA multiple to our updated fiscal year 2020 guidance, the implied per share price would be in the upper $70s, far above the $65.00 per share Acquisition Proposal. The Acquisition Proposal also fails to reflect any multiple expansion or uplift from the Company’s new $1 billion capital return commitment – even though the Company’s revenue trajectory and margin profile are consistent with publicly traded information service provides that trade at 13x or higher.

Recent transactions in the sector have occurred at much higher multiples than the multiple implied by the Acquisition Proposal. On July 27, 2020, Black Knight, Inc. (a Company that, like Cannae, is in the William Foley network of companies) announced an acquisition of mortgage data provider Optimal Blue for approximately 30x its estimated EBITDA for fiscal year 2020, despite Senator and Cannae’s purported concerns about the mortgage sector.1 On August 6, 2020, Intercontinental Exchange Inc. announced the acquisition of Ellie Mae Inc. at an implied multiple of approximately 23x estimated EBITDA for fiscal year 2020.2

We Believe that CoreLogic, Under Your Board of Directors, is Delivering Exceptional Operating and Financial Results, Has a Strong Foundation Underpinning its Outlook, and Has Rewarded Stockholders With Strong Returns.

Your Board believes that recent performance demonstrates that CoreLogic is delivering exceptional operating and financial results. Fiscal year 2020 is on track to be a record year in profitability with 11% year-over-year revenue growth fueled by an accelerating revenue growth trend. For the second quarter of fiscal year 2020 the Company outperformed its updated guidance and, based on its strong results, the Company also increased its guidance for fiscal year 2020. Further, CoreLogic has met or exceeded its adjusted EBITDA guidance range in all 12 quarters since it began issuing such guidance.

Your Board believes that CoreLogic has a strong foundation underpinning its outlook. The Company expects revenue growth of 11% for fiscal year 20203, fueled by (i) four “mega” wins (which the Company defines as contracts in excess of one year in duration and generating greater than $10 million in revenue), (ii) the adoption of our next-generation integrated insurance solutions and (iii) national expansion of our OneHome and HomeVisit solutions. In addition, CoreLogic maintains long-term client relationships with renewal rates underpinning its recurring revenue, with 95% of CoreLogic’s revenue being recurring in nature. Further, approximately 60% of the Company’s 2021 assumed organic revenue growth target of 5%, or $95 million, is already secured by contract wins.

CoreLogic has increased its non-mortgage growth. The Company has transformed its business to decrease its dependency on the mortgage markets. Exhibit 1 below shows the breakdown of mortgage and non-mortgage revenue in 2018 and today, as well as the targeted breakdown for fiscal year 2022. The Company currently has divestiture processes underway for tenant screening and credit solution businesses, which would increase its revenue mix to approximately 50% non-mortgage by fiscal year 2022.

1

https://www.prnewswire.com/news-releases/gtcr-announces-sale-of-optimal-blue-to-black-knight-301100193.html; https://www.bamsec.com/transcripts/13282060?hl_id=vk1ehkemt

2

https://s2.q4cdn.com/154085107/files/doc_presentations/2020/ICE_Ellie-Mae_Transaction_vF2.pdf

3

Normalizing for COVID-19 impacts and the AMC transformation and exit of noncore technology units.

Exhibit 1

~35% ~40% ~50% 2018 Today 2022 Target Non-Mortgage Revenue Mortgage RevenueLOGO

Your Board believes that CoreLogic is positioned for multiple expansion. The Company has transformed to become a higher-growth, higher-margin, less mortgage-dependent business. We believe that CoreLogic’s revenue growth, significant recurring revenue and margin profile is consistent with other publicly-traded information services providers which trade at considerably higher multiples.1 We believe our leadership position in a large and growing market, resilient business model and long-term customer relationships with exceptionally high renewal rates further align our business with that of higher multiple public companies. Each 1x of multiple expansion adds approximately $7.00 per share to the Company’s value. As shown in Exhibit 2 below, at $66.40 (the closing stock price on September 4, 2020), CoreLogic has a total enterprise value (“TEV”) of approximately $6.9 billion, which represents an 11.7x TEV / fiscal year 2020 estimated adjusted EBITDA multiple. Increasing CoreLogic’s TEV / fiscal year 2020 estimated adjusted EBITDA multiple to 12.7x implies a share price of $73.62 – an increase of $7.22 – holding all other assumptions constant.”

Exhibit 2

Illustrative TEV / Estimated Adjusted EBITDA Multiple for Fiscal Year 2020

  11.7x   12.7x 

(x) Estimated Adjusted EBITDA for Fiscal Year 20201

 $590  $590 
 

 

 

  

 

 

 

TEV

 $6,878  $7,468  

(-) Net Debt2

  (1,451  (1,451
 

 

 

  

 

 

 

Equity Value

 $5,427  $6,017  

(/) Fully Diluted Shares Outstanding

  82   82 
 

 

 

  

 

 

 

Implied Share Price

 $66.40  $73.62  

$ Increase

     $7.22  

Source: FactSet (9/4/20); CoreLogic public filings

Note: $ in millions, except per-share values

1

The other publicly-traded information services providers referenced are CoStar, Dun & Bradstreet, Equifax, Experian, Fair Isaac, IHS Markit, RELX, Thomson Reuters, TransUnion, Verisk and Wolters Kluwer.

1.

Estimated adjusted EBITDA based on midpoint of fiscal year 2020 guidance issued on July 23, 2020

2.

Net Debt calculated as total debt + pension liabilities - cash - investment in affiliates

CoreLogic’s stockholders have been rewarded with a substantial return of capital.

CoreLogic has returned more than $1.5 billion to stockholders through share repurchases and dividends since the Company’s spin-off from First American Financial Corporation in 2010.

The Company recently increased its share repurchase authorization to $1 billion and expects to make share repurchases of $500 million in fiscal year 2020, $300 million in fiscal year 2021 and $200 million in fiscal year 2022. Overall, including the recently increased quarterly dividend, CoreLogic expects to return over $1.2 billion of capital to stockholders in total from fiscal year 2020 through fiscal year 2022, as reflected in Exhibit 3 below.

In the fourth quarter of fiscal year 2019, the Company initiated a quarterly dividend of $0.22 per share of Common Stock. In July 2020, the Company increased its quarterly dividend by 50% from $0.22 to $0.33 per share.

Exhibit 2

Total Capital Returned ($ in millions) Prior Cumulative Periodic Projected 207 433 674 766 863 1,058 1,265 1,274 1,461 ~595(1) ~2,056 ~393(2) ~2,449 ~289(3) ~2,738 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020E 2021E 2022ETotal Capital Returned ($ in millions) Prior Cumulative Periodic Projected 207 433 674 766 863 1,058 1,265 1,374 1,461 ~595(1) ~2,056 ~393(2) ~2,449 ~289(3) ~2,738 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020E 2021E 2022ELOGO

Your Board is focused on executing its strategic plan, which has already delivered positive results. Your Board has provided significant transparency to the Company’s stockholders including multi-year projections, margin targets, planned divestitures, and capital allocation plans. As described above, the Company outperformed its updated guidance for the second quarter of fiscal year 2020, and fiscal year 2020 is on track to be a record year in profitability. Based on those results and notwithstanding Senator and Cannae’s stated belief that the Company should carry out a sale process, your Board believes that continuing to execute on the Company’s current strategic plan is the best approach to further increase value for all stockholders. Nonetheless, the Board remains open to all viable paths to increase stockholder value.

The Stockholder Proposals Are an Attempt to Remove and Replace Nine Incumbent Directors Who Have a Track Record of, and Commitment to, Acting in the Best Interests of the Company and Its Stockholders.

Your current Board has an outstanding track record of driving efficiency. In the past three years, the Company, under the guidance of the Board, continued its strategy of portfolio rationalization, cost savings initiatives and returning capital to stockholders. For example, from fiscal year 2016 to fiscal

year 2019, the Company expanded its non-mortgage business from approximately 30% of its overall business to 40%, exited legacy non-core business units generating approximately $100 million in revenue, reduced costs by $25 million per year, repurchased 14 million shares of Common Stock and initiated a quarterly dividend.

Your current directors have the experience and skill sets necessary to oversee the Company’s business. Each of the Company’s current highly-qualified directors, all of whom (other than Pamela Patenaude, who joined the Board in June 2020) were duly elected by the Company’s stockholders less than five months ago at the Company’s 2020 annual meeting of stockholders (the “2020 Annual Meeting”), has first-hand working knowledge of the Company, its business, its operations, its employees and its customers. Furthermore, all nine of the Incumbent Directors that Senator and Cannae are attempting to remove have experience in real estate, insurance or technology, which are crucial areas of expertise for understanding and overseeing the Company’s business. More information about the qualifications and experience of each of the Company’s directors is included in the section of this Proxy Statement entitled “Directors of the Company.”

The Board Believes That the Senator and Cannae Nominees—Through Whom Senator and Cannae Seek to Seize Control of CoreLogic—Are Not in the Best Position to Serve the Interests of the Company’s Stockholders.

Your Board believes that all of the Senator and Cannae Nominees have been hand-picked by Senator and Cannae with the goal of implementing Senator and Cannae’s undervalued proposal to acquire the Company, although subject to fiduciary duties. It would be in Senator and Cannae’s interest (but not in the interest of other CoreLogic stockholders) to buy the Company at the lowest possible price. The Senator and Cannae Nominees, if appointed to the Board, would have control of your Board and would be positioned to consider and negotiate an acquisition proposal with Senator and Cannae, the very same entities that nominated and are soliciting votes for them. This would allow Senator and Cannae’s hand-picked nominees to, subject to their fiduciary duties, facilitate the acquisition of the Company by Senator and Cannae at a price and on terms comparable to the Acquisition Proposal that your duly elected, highly-qualified and independent Board has determined (i) significantly undervalues the Company, (ii) raises serious regulatory concerns and (iii) is not in the best interests of the Company’s stockholders. In considering the Acquisition Proposal and the Stockholder Proposals, your Board believes that it is important for the Company’s stockholders to recognize that Senator and Cannae have no duty to act in the best interests of the Company’s stockholders (including in selecting the Senator and Cannae Nominees that Senator and Cannae are proposing be appointed to your Board).

The Senator and Cannae Nominees lack familiarity with the Company and lack the qualifications and experience necessary to oversee the Company’s business or to evaluate the Company’s strategic alternatives. The Senator and Cannae Nominees have limited or no familiarity with the Company. In order to act on behalf of the Company’s stockholders, and appropriately evaluate the Company’s strategic alternatives, the Senator and Cannae Nominees would need to spend considerable time to obtain the knowledge necessary to understand the Company’s operations and its prospects, as they would not have the benefit of the decades of cumulative experience of the Incumbent Directors.

The Acquisition Proposal Presents Serious Concerns Over the Likelihood of its Completion, Creating Significant Uncertainty and Risk.

The Acquisition Proposal presents serious regulatory concerns. Given overlaps between CoreLogic and the network of numerous companies associated with Cannae’s Chairman, William P. Foley, including Black Knight, Inc. and Fidelity National Financial, Inc., the Acquisition Proposal presents serious regulatory concerns and any potential transaction may be difficult or impossible to consummate. On July 1, 2020, the Company received a notice from the Federal Trade Commission’s (the “FTC”) Premerger Notification Office, Bureau of Competition, indicating that on June 29, 2020,

Senator Focused Strategies LP, an affiliate of Senator, submitted a filing under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (“HSR”) to acquire certain voting securities of CoreLogic. The 30-day HSR waiting period for Senator Focused Strategies LP to acquire additional shares of the Company’s stock would have expired already, absent an extension of the waiting period by the FTC, and the Company is not aware of Senator Focused Strategies LP receiving HSR approval. Further, on July 14, 2020, the FTC notified the Company that it was investigating the Acquisition Proposal and requested that the Company produce certain information in connection with the FTC’s investigation. On August 7, 2020, the Company received a Civil Investigative Demand and subpoena from the FTC as part of the FTC’s investigation into Senator and Cannae, requiring that the Company produce information in connection with such investigation. The facts above raise significant concern about Senator and Cannae’s ability to complete an acquisition of the Company as there appears to be substantial ongoing regulatory scrutiny which creates uncertainty and risk that any potential transaction could be consummated and, even if possible, how long it would take to do so.

Senator and Cannae have not provided any assurance that they can obtain financing for the Acquisition Proposal. Senator and Cannae have not provided any debt or equity commitments to finance any potential acquisition. They have only provided a highly conditioned “highly confident letter” (the “Highly Confident Letter”) that provides no obligations by potential financing sources and, when and if it results in a consummated debt financing, would only finance approximately half of the funds required to complete the Acquisition Proposal. The Highly Confident Letter states that obtaining financing for the proposed acquisition is inherently subject to uncertainties and contingencies beyond BofA Securities, Inc.’s (“BofA Securities”) control and that, accordingly, there can be no assurance that the arrangement of the proposed credit facilities can in fact be accomplished. Senator and Cannae have not disclosed any other financing sources, including any equity financing sources, whether any equity financing has been committed and the amount of funding that would be provided by such equity financing sources.

The Board believes that Senator and Cannae’s opportunistic Acquisition Proposal—which significantly undervalues the Company and its current growth trajectory—is designed to benefit Senator and Cannae at the expense of all of the Company’s other stockholders. In contrast, your Board, which is composed entirely of independent directors, other than the Company’s Chief Executive Officer, is committed to enhancing value for all stockholders and has overseen the successful execution of key initiatives, including growth in share and market leadership in key operating units, scaling of core mortgage operations, successful cost productivity initiatives and a shift in revenue mix towards platform and higher profit solutions. The Board is confident that the Company will, consistent with its outstanding track record, deliver greater value to its stockholders by executing its strategic plan than through pursuing the Acquisition Proposal, which your Board has determined (i) significantly undervalues the Company, (ii) raises serious regulatory concerns and (iii) is not in the best interests of the Company’s stockholders.

YOUR BOARD UNANIMOUSLY RECOMMENDS THAT YOU VOTE TODAY AGAINST ALL OF THE STOCKHOLDER PROPOSALS ON THE ENCLOSED WHITE PROXY CARD.

In addition to the reasons provided above, the Board believes you should vote AGAINST each of the Stockholder Proposals for the following reasons:

STOCKHOLDER PROPOSAL 1

REPEAL PROPOSAL

Proposal 1 is a proposal to repeal any provision of, or amendment to, the Bylaws adopted without stockholder approval subsequent to July 6, 2020. The text of the proposed resolution to be voted upon at the Special Meeting is below.

RESOLVED, to repeal each provision of, or amendment to, the Bylaws adopted by the Board without the approval of the Company’s stockholders subsequent to July 6, 2020.

THE BOARD’S RESPONSE TO STOCKHOLDER PROPOSAL 1

Your Board unanimously recommends that you vote AGAINST Proposal 1 for the following reasons.

Under our Charter, our Bylaws and Delaware law, our Board is charged with the responsibility of managing and conducting the business and affairs of the Company. In order to permit our Board to carry out its responsibilities and correspondingly fulfill its fiduciary duties to the Company and its stockholders, both our Charter and Bylaws provide that our Board has the power to adopt, amend or repeal the Bylaws. Your Board is committed to good corporate governance and periodically considers ways to enhance the Bylaws.

Proposal 1 (the Repeal Proposal) seeks to repeal all amendments to our Bylaws adopted by our Board without stockholder approval after July 6, 2020 and prior to the effectiveness of such proposal without regard to the subject matter of any Bylaw amendment in question. This proposal is speculative and is designed to nullify unspecified provisions of the Bylaws that may be adopted by the Board in its efforts to act in the best interests of, and protect, the Company and its stockholders. No such amendments to the Bylaws have been made or are currently being contemplated. Furthermore, the Board’s fiduciary duties require that it retain flexibility to adopt, at any time, any amendment to the Bylaws that it believes is proper and in the best interests of the Company’s stockholders. The automatic repeal of any duly adopted Bylaw amendment, irrespective of its content, could have the unfortunate effect of repealing one or more properly adopted Bylaw amendments determined by the Board to be in the best interests of the Company and its stockholders.

The approval of Proposal 1 requires the affirmative vote of the holders of a majority in voting power of all issued and outstanding shares entitled to vote at an election of directors of the Company. Abstentions and broker non-votes, if any, will have the same effect as votes against Proposal 1. Stockholders may vote “AGAINST,” “ABSTAIN” from voting or vote “FOR” with respect to Proposal 1.

For the foregoing reasons, the Board unanimously recommends that you vote AGAINST Proposal 1.

STOCKHOLDER PROPOSAL 2

DIRECTOR REMOVAL PROPOSAL

Proposal 2 is a proposal to remove, without cause, nine independent Incumbent Directors from the Board. The text of the proposed resolution to be voted upon at the Special Meeting is below.

RESOLVED, to remove from office as directors of the Company J. David Chatham, Douglas C. Curling, John C. Dorman, Paul F. Folino, Thomas C. O’Brien, Pamela H. Patenaude, Vikrant Raina, J. Michael Shepherd and David F. Walker, as well as any other person or persons elected or appointed to the Board without stockholder approval after June 18, 2020 and up to and including the date of the Special Meeting (other than any of the Senator and Cannae Nominees).

THE BOARD’S RESPONSE TO STOCKHOLDER PROPOSAL 2

Your Board unanimously recommends that you vote AGAINST removal of all the Incumbent Directors named in Proposal 2 for the following reasons.

Proposal 2 (the Director Removal Proposal) seeks to remove, without cause, nine of your Incumbent Directors. The Board believes that the removal of the nine duly elected, highly-qualified and independent Incumbent Directors, all of whom (other than Pamela Patenaude, who joined the Board in June 2020) were duly elected by the Company’s stockholders less than five months ago at the Company’s 2020 Annual Meeting, would disrupt the implementation of the Company’s strategic plan, could adversely impact the value of your investment and is not in the best interests of stockholders other than Senator and Cannae. Eleven of the 12 directors on your current Board are independent (including each of the nine Incumbent Directors that Senator and Cannae are attempting to remove). Your current directors are committed to enhancing value for all of the Company’s stockholders and have overseen the successful execution of key initiatives including growth in share and market leadership in key operating units, scaling of core mortgage operations, successful cost productivity initiatives and a shift in revenue mix towards platform and higher profit solutions. The Board is confident that the Company will, consistent with its outstanding track record, deliver greater value to its stockholders by executing its strategic plan rather than through pursuing the Acquisition Proposal, which (i) significantly undervalues the Company, (ii) raises serious regulatory concerns and (iii) is not in the best interests of the Company’s stockholders.

In the past three years, the Company, under the guidance of the Board, continued its strategy of portfolio rationalization, cost savings initiatives and returning capital to stockholders. For example, from fiscal year 2016 to fiscal year 2019, the Company expanded its non-mortgage business from approximately 30% of its overall business to 40%, exited additional legacy non-core units generating approximately $100 million in revenue, reduced costs by $25 million per year, repurchased 14 million shares of Common Stock and began paying a quarterly dividend. In addition, because of the success of your current Board, stockholders have been rewarded with strong returns. Recently, the Company increased its share repurchase authorization to $1 billion, implemented a quarterly dividend of $0.22 per share and then increased the quarterly dividend by 50%, from $0.22 per share to $0.33 per share. Further, the Company plans to return over $1.2 billion of capital to stockholders from fiscal year 2020 through fiscal year 2022. We ask you to review the section of this Proxy Statement entitled “Reasons to Reject the Stockholder Proposals” and our public filings for more information about our historical performance and your Board’s leadership.

Further, each of the Company’s current directors has first-hand working knowledge of the Company, its business, its operations, its employees and its customers, and all nine of the Incumbent Directors that Senator and Cannae are attempting to remove have experience in real estate, insurance or technology, which are crucial areas of expertise for understanding and overseeing the Company’s business. More information about the qualifications and experience of each of the Company’s directors is included in the section of this Proxy Statement entitled “Directors of the Company.”

We believe that our Board is best suited to fully capitalize on the Company’s key initiatives and the value of our current long-term business plan. We further believe that the current directors’ relevant expertise and proven track record of delivering and creating value for its stockholders demonstrates that each of the nine Incumbent Directors should remain in office. As a result, the Board believes that the interests of the Company’s stockholders will be best served if the Incumbent Directors remain on the Board and the Company’s current directors, acting independently from, and without any connection to, Senator and Cannae, are given the opportunity to continue to oversee the execution of the Company’s plan and initiatives to enhance value for all of the Company’s stockholders.

The approval of Proposal 2 requires the affirmative vote of the holders of a majority in voting power of all issued and outstanding shares entitled to vote at an election of directors of the Company. Abstentions and broker non-votes, if any, will have the same effect as votes against Proposal 2. Stockholders may vote “AGAINST,” “ABSTAIN” from voting or vote “FOR” the removal of each of the Incumbent Directors named in Proposal 2.

No person has been elected or appointed to the Board after June 18, 2020, and the Board does not intend to appoint any person to the Board prior to the Special Meeting. Should any person be elected or appointed to the Board prior to the Special Meeting, the Company will provide a means for stockholders to vote “AGAINST,” “ABSTAIN” from voting or vote “FOR” the removal from the Board of any such person. If a WHITE Proxy Card is delivered prior to such means being provided and not revoked, the proxies named on the WHITE Proxy Card will ABSTAIN from voting with respect to the removal from the Board of any such person.

For the foregoing reasons, the Board unanimously recommends that you vote AGAINST removal of all the Incumbent Directors named in Proposal 2.

STOCKHOLDER PROPOSAL 3

NOMINATION PROPOSAL

Proposal 3 is a proposal to nominate the nine nominees selected by Senator and Cannae for appointment to the Board, by the directors then in office, to the extent there are vacancies on the Board pursuant to the adoption of Proposal 2. The text of the proposed resolution to be voted upon at the Special Meeting is below.

RESOLVED, to nominate the Senator and Cannae Nominees—W. Steve Albrecht, Martina Lewis Bradford, Gail Landis, Wendy Lane, Ryan McKendrick, Katherine KT Rabin, Sreekanth Ravi, Lisa Wardell andHenry W. Jay Winship—for appointment to the Board by the directors then in office, if and to the extent one or more of the Incumbent Directors is removed from the Board pursuant to the valid adoption of the Director Removal Proposal.

THE BOARD’S RESPONSE TO STOCKHOLDER PROPOSAL 3

Your Board unanimously recommends that you vote AGAINST the nomination for appointment of all of the Senator and Cannae Nominees named in Proposal 3 for the following reasons.

Proposal 3 (the Nomination Proposal) seeks to replace nine of your duly elected, highly-qualified and independent Incumbent Directors, with nine nominees hand-picked by Senator and Cannae. The Board believes that Senator and Cannae’s hand-picked nominees have been chosen not to protect the interests of CoreLogic’s stockholders, but rather to facilitate an acquisition of the Company by Senator and Cannae at a price and on terms comparable to the Acquisition Proposal that your duly elected, highly-qualified and independent Board has determined (i) significantly undervalues the Company, (ii) raises serious regulatory concerns and (iii) is not in the best interests of the Company’s stockholders. Further, the Board believes that Senator and Cannae’s opportunistic Acquisition Proposal—which significantly undervalues the Company and its current growth trajectory—is designed to benefit Senator and Cannae at the expense of all of the Company’s other stockholders.

The Senator and Cannae Nominees, unlike the Incumbent Directors, have limited or no familiarity with the Company. None of the Senator and Cannae Nominees have disclosed management, operating or M&A experience in CoreLogic’s industry. In order to act on behalf of the Company’s stockholders, and appropriately evaluate the Company’s strategic alternatives, the Senator and Cannae Nominees would need to spend considerable time to obtain the knowledge necessary to understand the Company’s operations and its prospects, as they would not have the benefit of the decades of cumulative experience of the Incumbent Directors.

It would be in Senator and Cannae’s interest (but not in the interest of other CoreLogic stockholders) to buy the Company at the lowest possible price. The Senator and Cannae Nominees, if appointed to the Board, would have control of your Board and would be positioned to consider and negotiate an acquisition proposal with Senator and Cannae, the very same entities that nominated and are soliciting votes for them. This would allow the hand-picked Senator and Cannae Nominees to, subject to fiduciary duties, facilitate an acquisition of the Company by Senator and Cannae at a price and on terms comparable to the Acquisition Proposal that your duly elected, highly-qualified and independent Board has determined (i) significantly undervalues the Company, (ii) raises serious regulatory concerns and (iii) is not in the best interests of the Company’s stockholders. In

considering the Acquisition Proposal and the Stockholder Proposals, your Board believes that it is important for the Company’s stockholders to recognize that Senator and Cannae have no duty to act in the best interests of the Company’s stockholders (including in selecting the Senator and Cannae Nominees that Senator and Cannae are proposing to be appointed to your Board).

Pursuant to our Charter and Bylaws, vacancies on the Board shall, unless provided by law or resolution of the Board, be filled solely by the affirmative vote of a majority of the remaining directors in office, even though less than a quorum.

In the event of the valid adoption of Proposal 3, pursuant to Section 5.2 of the Charter and Section 3.3 of the Bylaws, the directors remaining in office will, subject to applicable law, fill any vacancies on the Board resulting from removals with the Eligible Nominees, if any. If the number of Eligible Nominees approved by stockholders exceeds the number of vacancies on the Board resulting from the removal of Incumbent Directors, the Board will fill such vacancies with the Eligible Nominees receiving the highest number of affirmative votes, subject to applicable law or, in the event of a tie, the Board shall determine which of the Eligible Nominees receiving the highest number of affirmative votes will fill such vacancies. The Board is not currently aware of any facts that would prevent any of the Senator and Cannae Nominees from being appointed under applicable law.

The approval of Proposal 3 requires the affirmative vote of the holders of a majority in voting power of the Company’s stock entitled to vote thereon, present in person or represented by proxy at the Special Meeting. Abstentions will have the same effect as votes against Proposal 3. Broker non-votes, if any, will have no effect on Proposal 3 as brokers are not entitled to vote on such proposal in the absence of voting instructions from the beneficial owner. Stockholders may vote “AGAINST,” “ABSTAIN” from voting or vote “FOR” the nomination for appointment of each of the Senator and Cannae Nominees named in Proposal 3.

For the foregoing reasons, the Board unanimously recommends a vote AGAINST the nomination for appointment of all the Senator and Cannae Nominees named in Proposal 3.

STOCKHOLDER PROPOSAL 4

BYLAW AMENDMENT PROPOSAL

Proposal 4 is a proposal to amend the Bylaws to provide mechanics for calling a special meeting of stockholders if no directors or less than a majority of directors are in office following the passing of the Director Removal Proposal. The text of the proposed resolution to be voted upon at the Special Meeting is below.

RESOLVED, that Section 2.2 of Article II of the Bylaws be, and hereby is, amended, as set forth below, to add a new clause to Section 2.2 of Article II of the Bylaws (which shall be designated clause (b)) to provide mechanics for calling a special meeting of stockholders if no directors or less than a majority of directors are in office following the passing of the Director Removal Proposal:

“(b) Notwithstanding anything to the contrary set forth herein, unless otherwise specified by the Court of Chancery, the Chief Executive Officer or Secretary shall, within five (5) business days after the date on which the Court of Chancery issues an order requiring the Corporation to hold an election pursuant to Section 223 of the DGCL, call a special meeting of stockholders of the Corporation for the election of directors and deliver notice of such meeting as provided in Section 2.3 of this Article II. Any special meeting of stockholders of the Corporation so called shall be held at the place, date and time specified in the notice of such meeting and in accordance with applicable law (or, at such other place, date and time as may be specified by the Court of Chancery).”

THE BOARD’S RESPONSE TO STOCKHOLDER PROPOSAL 4

Your Board unanimously recommends that you vote AGAINST Proposal 4 for the following reasons.

Proposal 4 (the “Annual Meeting”Bylaw Amendment Proposal) seeks to provide mechanics for calling a special meeting of stockholders if no directors or less than a majority of directors are in office following the passing of the Director Removal Proposal. Your Board believes that Proposal 4 is an obvious attempt by Senator and Cannae to amend the Bylaws to circumvent the views of stockholders and to make it easier for Senator and Cannae to gain control of the Board.

In the event of the valid adoption of Proposal 3, pursuant to Section 5.2 of the Charter and Section 3.3 of the Bylaws, the directors remaining in office will, subject to applicable law, fill any vacancies on the Board, resulting from removals with the Eligible Nominees, if any, and if the number of Eligible Nominees exceeds the number of vacancies on the Board resulting from removals, the Board will fill such vacancies with such nominees receiving the highest number of affirmative votes, subject to applicable law or, in the event of a tie, the Board shall determine which of the Eligible Nominees receiving the highest number of affirmative votes will fill such vacancies. As a result, in the context of the Special Meeting, the proposed Bylaw amendment becomes potentially applicable only when the Senator and Cannae Nominees do not receive the requisite stockholder approval to be nominated to fill available vacancies. In such a situation, notwithstanding that the Senator and Cannae Nominees did not obtain the requisite stockholder approval at the Special Meeting, Senator and Cannae, after having lost the vote, seek to facilitate through the Bylaw amendment the calling of another special meeting to try again to put their hand-picked nominees on the Board.

The approval of Proposal 4 requires the affirmative vote of the holders of a majority in voting power of all issued and outstanding shares entitled to vote at an election of directors of the Company. Abstentions and broker non-votes, if any, will have the same effect as votes against Proposal 4. Stockholders may vote “AGAINST,” “ABSTAIN” from voting or vote “FOR” with respect to Proposal 4.

For the foregoing reasons, the Board unanimously recommends that you vote AGAINST Proposal 4.

YOUR BOARD UNANIMOUSLY RECOMMENDS THAT YOU VOTE TODAY AGAINST ALL OF THE STOCKHOLDER Proposals on the enclosed WHITE proxy card.

Please do not delay. In order to ensure that the Board is able to continue to act in your best interests, please vote AGAINST all of the Stockholder Proposals as promptly as possible—over the internet, using the website indicated on the enclosed WHITE Proxy Card; by telephone, using the toll-free number on the WHITE Proxy Card; or by signing, dating and returning the WHITE Proxy Card in the postage-paid envelope provided.

BACKGROUND OF THE SOLICITATION

The Company regularly meets with its stockholders to discuss the Company and its business, operations and financial results to provide transparency into the direction and strength of the Company’s business. On March 24 and 31, 2020, following release of the Company’s annual results, an investor relations executive of the Company had ordinary course meetings at the request of a representative of Senator to discuss business results from the fourth quarter and full year 2019. At no time during that meeting did the representative of Senator raise the prospect of a potential acquisition of the Company, Senator seeking control of the Company or any similar proposal. However, the Company has subsequently learned, following June 26, 2020, based on public filings, that Senator and Cannae had begun discussing an investment partnership to opportunistically trade in marketable securities as early as October 2019 and that from at least as early as February into late June of 2020, Senator and Cannae were acquiring shares of Common Stock as well as total return swaps, over-the-counter forward purchase contracts and cash-settled swaps with respect to the Common Stock in a manner seemingly intended to avoid disclosure and detection.

On June 10 2020, Cannae announced the pricing of an underwritten public offering of approximately $455 million of common stock. The June 10, 2020 prospectus supplement with respect to the offering (the “Prospectus”) stated that the use of proceeds was “to fund future acquisitions or investments, including potential investments in existing portfolio companies, and for general corporate purposes.” The Prospectus did not mention that such funds could be utilized for the acquisition of CoreLogic then being pursued secretly by Senator and Cannae.

On June 25, 2020, with no knowledge of Senator and Cannae’s actions or plans, the Company issued a press release increasing its guidance for the second quarter of fiscal year 2020 to reflect the Company’s expectations for strong second quarter financial performance. Following the issuance of the press release after the market closed, the Company’s stock price increased approximately 9% to $57.80 in after-hours trading.

Early on the morning of June 26, 2020, Senator and Cannae, without contacting the Company in advance, publicly issued the Acquisition Proposal Press Release, announcing the Acquisition Proposal to acquire the Company at a price of $65.00 in cash per share of Common Stock. In the Acquisition Proposal Press Release, Senator and Cannae disclosed for the first time that they had jointly accumulated an aggregate economic interest in the Company equivalent to approximately 15% of the outstanding Common Stock, which they later disclosed in the Senator and Cannae 13D to consist of 8.2% of the Company’s outstanding Common Stock, shares of Common Stock underlying total return swaps or over-the-counter forward contracts equal to 1.8% of the outstanding Common Stock and cash-settled swaps referencing 5% of the outstanding Common Stock. Senator and Cannae failed to note that when they announced their ownership position in the Acquisition Proposal Press Release, they did not own the percentage claimed, which only became discernible when in the Senator and Cannae 13D, filed on June 30, 2020, Senator and Cannae were required to disclose recent trades which showed that approximately 3% (consisting of shares of Common Stock and over-the-counter forward contracts to acquire shares of Common Stock) of the 15% economic interest that they claimed to own was actually acquired after they issued the Acquisition Proposal Press Release at prices as high as $68.27 per share.

Later in the day on June 26, 2020, the Company received a letter from Senator and Cannae containing the Acquisition Proposal, and the Company issued a statement that the Board would carefully review the Acquisition Proposal to determine the course of action it believed was in the best interests of the Company and its stockholders.

On June 27, 2020 and July 3, 2020, the Board held meetings to discuss, with the assistance of the Company’s independent financial advisor, Evercore Inc. (“Evercore”), and youits outside legal counsel, Skadden, Arps, Slate, Meagher & Flom LLP (“Skadden”), the Acquisition Proposal and potential next steps.

On July 1, 2020, the Company received notice that Senator Focused Strategies LP, an affiliate of Senator, filed, on June 29, 2020, for HSR approval to acquire additional shares of Common Stock with a value, together

with shares already owned, of up to $940.1 million, representing less than a majority of our Common Stock. The HSR waiting period for such Senator fund to acquire additional shares of Common Stock would have expired on July 29, 2020, unless the FTC issued a request for additional information, commonly referred to as a second request. The Company is not aware of such HSR waiting period having expired or been terminated. In addition, the Company is not aware of Cannae making a similar HSR filing.

On July 6, 2020, the Board held a meeting, with representatives from Evercore and Skadden present, to receive an update on the Company’s business and results and to discuss, among other things, (i) updating the Company’s fiscal year 2020 guidance and providing guidance for fiscal year 2021 and fiscal year 2022, (ii) increasing the Company’s share repurchase authorization, (iii) the Acquisition Proposal and (iv) the adoption of a short-term stockholder rights plan. At the meeting, the Board unanimously (A) determined to update the Company’s guidance for fiscal year 2020 and to provide guidance for fiscal year 2021 and fiscal year 2022 to give additional transparency to stockholders regarding the strength and direction of the Company’s business and (B) approved an increase in the Company’s share repurchase authorization to $1 billion reflecting the strength of the Company’s business and intention to return a significant portion of free cash flow to stockholders. At the meeting the Board, following consultation with Evercore and Skadden, unanimously determined that the Acquisition Proposal (i) significantly undervalues the Company, (ii) raises serious regulatory concerns and (iii) is not in the best interests of the Company’s stockholders. The Board did, however, authorize management to meet with Senator and Cannae to learn more about the Acquisition Proposal. The Board also adopted a short-term stockholder rights plan.

On the morning of July 7, 2020, the Company issued a press release announcing (i) the Board’s determination that the Acquisition Proposal (A) significantly undervalues the Company, (B) raises serious regulatory concerns and (C) is not in the best interests of the Company’s stockholders, (ii) the increase in the Company’s share repurchase authorization to $1 billion, and (iii) the adoption of a short-term stockholder rights plan. The Company separately issued a press release on July 7, 2020 updating the Company’s guidance for fiscal year 2020 and providing guidance for fiscal year 2021 and fiscal year 2022.

On July 7, 2020, Senator and Cannae issued a press release announcing, among other things, that they were prepared, if the Company did not engage with Senator and Cannae regarding the Acquisition Proposal, to call a special meeting of Company stockholders to replace the Board as early as July 28, 2020.

On July 14, 2020, members of the Board and senior management of the Company met by video conference with representatives of Senator and Cannae to learn more about the Acquisition Proposal and to seek additional information regarding (i) Senator and Cannae’s views on value and willingness to raise its offer price, (ii) Senator and Cannae’s financing and (iii) potential regulatory concerns raised by the Acquisition Proposal. The parties discussed, among other things, the Company’s value drivers, why the Board believed the Acquisition Proposal significantly undervalues the Company, regulatory concerns raised by the Acquisition Proposal and financing of a transaction. Senator and Cannae did not increase the value of the Acquisition Proposal notwithstanding the Company’s public disclosure of multi-year financial projections and increased guidance since the date the Acquisition Proposal was made public. Senator and Cannae also declined to disclose the sources or status of their equity financing, and provided no additional information regarding their debt financing other than that the non-binding and highly conditional Highly Confident Letter had been provided by BofA Securities. Nonetheless, Senator and Cannae requested access to confidential and competitively sensitive non-public due diligence information. The Company noted that it had already publicly disclosed a significant amount of new information in its updated guidance for fiscal year 2020 and its forecasts for fiscal year 2021 and fiscal year 2022 to support Senator and Cannae raising the price offered in the Acquisition Proposal and responded that it would raise the request to conduct non-public due diligence with the Board.

On July 14, 2020, the Company received written notification from the FTC that the FTC was conducting an investigation of the Acquisition Proposal, and requesting that the Company produce information in connection with that investigation.

On July 15, 2020, representatives of Skadden and representatives of Cannae’s legal counsel at Weil, Gotshal & Manges LLP (“Weil”) and Senator’s legal counsel at Cadwalader, Wickersham & Taft LLP (“Cadwalader”) spoke via conference call regarding the regulatory considerations raised by the Acquisition Proposal.

Also on July 15, 2020, representatives of Weil sent to representatives of Skadden and Evercore a non-binding and highly conditional Highly Confident Letter from BofA Securities to Cannae, dated June 28, 2020. The Highly Confident Letter relates to, but undertakes no commitment or obligation to provide, credit facilities in an amount of up to $3.6 billion, or approximately half of the funds required to complete the Acquisition Proposal. The Highly Confident Letter stated that it is not intended to be and should readnot be construed as (or relied upon as) an offer or commitment by BofA Securities or any of its affiliates to provide, extend or arrange any financing, and creates no obligations or liability on BofA Securities in connection therewith, and that any offer or commitment would in any event be subject to BofA Securities’ internal committee approval process in addition to numerous conditions, including (i) that the entirestructure, terms and conditions, and documentation, including the principal economic terms and structure for the proposed acquisition, are consistent with what has been described to BofA Securities, and the documentation for the proposed financing is satisfactory to BofA Securities; (ii) the receipt of all consents required to consummate the proposed acquisition; (iii) the receipt of customary syndication documents, including audited, unaudited and pro forma financial statements, and other customary marketing materials and a customary marketing period for the proposed financing; (iv) Cannae’s full cooperation with respect to the syndication of the proposed financing and BofA Securities having a customary time to syndicate the proposed financing; (v) absence of any material adverse change affecting the Company, Cannae or their respective businesses, or in the business, operations, assets, liabilities, results of operations, condition (financial or otherwise) of the Company and its subsidiaries and Cannae and its subsidiaries, in each case, since the date of the audited financial information delivered to BofA Securities; and (vi) satisfactory customary due diligence. The letter stated that obtaining financing for the proposed acquisition is inherently subject to uncertainties and contingencies beyond BofA Securities’ control and that, accordingly, there can be no assurance that the arrangement of the proposed financing will in fact be accomplished.

On July 17, 2020, Senator and Cannae sent a letter to the Company indicating that it would only increase the price of the Acquisition Proposal after conducting due diligence that demonstrates a higher price was justified.

On July 17, 2020, the Board held a meeting, with representatives from Evercore and Skadden present, to discuss, among other things, the Acquisition Proposal and Senator and Cannae’s request to conduct non-public due diligence. The Board reviewed the request in light of the value and other terms proposed by Senator and Cannae, which the Board had previously unanimously determined (i) significantly undervalues the Company, (ii) raises serious regulatory concerns and (iii) is not in the best interests of the Company’s stockholders. The Board noted that since the Acquisition Proposal was initially announced the Company had provided Senator and Cannae significant additional transparency into the strength and direction of the Company’s business when it publicly issued increased guidance for fiscal year 2020 and publicly provided financial projections for fiscal year 2021 and fiscal year 2022, and that Senator and Cannae had insight into the Company’s business through Cannae’s and its associated companies’, including Black Knight, Inc. and Fidelity National Financial, Inc., knowledge of the industry, and had sufficient information to increase the price of the Acquisition Proposal but had not done so. At the meeting, the Board determined not to provide non-public information to Senator and Cannae unless they first raised their offer to a level that provided appropriate value to the Company’s stockholders reflecting CoreLogic’s strong multi-year outlook. Thereafter, the Company communicated the Board’s decision to Senator and Cannae and, on July 20, 2020, issued a press release disclosing the Board’s decision.

On July 22, 2020, the Board held a meeting, with representatives from Evercore and Skadden present, to discuss the release of earnings for the second quarter of fiscal year 2020, the provision of third quarter guidance and updated full year guidance for fiscal year 2020, the Company’s quarterly dividend, timing of potential share repurchases, and the planned divestiture of the Company’s tenant screening and credit solution businesses.

On July 23, 2020, the Company issued its earnings for the second quarter of fiscal year 2020 reflecting strong financial results for the quarter and announced, among other things, guidance for the third quarter of fiscal year 2020, further increased full-year guidance for fiscal year 2020 and a 50% increase in its quarterly dividend to $0.33 per share.

On July 24, 2020, the Board held a meeting, with representatives from Evercore and Skadden present, to receive an update on the second quarter of fiscal year 2020 earnings call and matters relating to the Acquisition Proposal.

On July 29, 2020, Senator and Cannae issued a press release stating that it had initiated a process to request that the Board call a special meeting of stockholders to elect the Senator and Cannae Nominees to the Board.

On July 29, 2020, the Board held a meeting, with representatives from Evercore and Skadden present, at which they discussed, among other things, the announcement that Senator and Cannae had initiated a process to request that the Board call a special meeting of stockholders and other matters relating to the Acquisition Proposal.

On July 30, 2020, Senator delivered a letter (the “Record Date Request Letter”) to CoreLogic’s Secretary to request that a record date be set by the Board for the purpose of determining the Company’s stockholders entitled to deliver to Senator the requisite stockholder request cards necessary to request that the Board call a special meeting of the Company’s stockholders for the purposes described in the Record Date Request Letter (the “Request Solicitation”).

On July 31, 2020, Senator and Cannae filed a preliminary version of the Senator and Cannae Solicitation Statement with the SEC, with respect to the Request Solicitation.

Also on July 31, 2020, the Board held a meeting, with representatives from Evercore and Skadden present, to discuss the Record Date Request Letter, the Senator and Cannae Solicitation Statement, a potential special meeting of stockholders and the Acquisition Proposal.

On August 4, 2020, Skadden sent a letter to Cadwalader, seeking clarification regarding Senator’s director removal proposal set forth in the Record Date Request Letter and the Senator and Cannae Solicitation Statement.

On August 5, 2020, Cadwalader responded to Skadden that Senator would amend its director removal proposal to propose the removal of nine current directors and any director appointed after June 18, 2020 and until the date of the Special Meeting (other than the Senator and Cannae Nominees) without stockholder approval.

On August 6, 2020, Senator and Cannae filed with the SEC (i) an amendment to the Senator and Cannae Solicitation Statement and (ii) an amendment to the Senator and Cannae Schedule 13D.

On August 7, 2020, the Board held a meeting, with representatives of Evercore and Skadden present, to discuss the Record Date Request Letter, including certain deficiencies with respect to the proposals set forth in such letter, timing considerations relating to a potential special meeting of stockholders and potential responses by the Board to the Record Date Request Letter.

Also on August 7, 2020, the Company received a Civil Investigative Demand and subpoena from the FTC in connection with the FTC’s investigation into Senator and Cannae, requiring that the Company produce information in connection with that investigation.

On August 9, 2020, the Board held a meeting, with representatives from Evercore and Skadden present, to discuss the Record Date Request Letter and determined to call the Special Meeting, without requiring Senator to deliver requests from the holders of 10% of the outstanding Common Stock, in order to allow the Company’s

stockholders to consider and vote upon the Stockholder Proposals. The Board also determined to hold the Special Meeting on November 17, 2020, to set August 19, 2020 as the record date for the Request Solicitation and to engage First Coast Results, Inc. to serve as the Inspector of Elections at the Special Meeting. Later that day, the Company issued a press release announcing the Board’s decision to call the Special Meeting and sent a letter to Senator regarding the Board’s decision to call the Special Meeting as well as detailing certain deficiencies in the Record Date Request Letter.

On August 10, 2020, representatives of Cadwalader and Skadden spoke via conference call, during which, among other things, representatives of Cadwalader proposed that Senator and the Company enter into a letter agreement pursuant to which Senator would withdraw the Request Solicitation in exchange for imposing various obligations on the Company with respect to the Special Meeting, including that the Company hold the Special Meeting on November 17, 2020 (the “Proposed Letter Agreement”).

On August 12, 2020, Cadwalader sent Skadden a draft of the Proposed Letter Agreement.

On August 13, 2020, Senator and Cannae filed an amendment to the Senator and Cannae Solicitation Statement with the SEC.

On August 14, 2020, the Board held a meeting, with representatives from Evercore and Skadden present, to receive an update on developments relating to the Acquisition Proposal and the Request Solicitation and to discuss Senator’s Proposed Letter Agreement. After careful consideration, the Board concluded that entering into the Proposed Letter Agreement was unnecessary in light of the Board having called the Special Meeting for stockholders to consider and vote upon the Stockholder Proposals.

On August 14, 2020, Skadden notified Cadwalader that the Board had carefully considered the Proposed Letter Agreement and had concluded that the Proposed Letter Agreement and the Request Solicitation were not necessary in light of the Board having called the Special Meeting in order for stockholders to consider and vote upon the Stockholder Proposals. On the same day, the Company also issued a press release announcing the Board’s determination that the Proposed Letter Agreement was unnecessary and additional details regarding the Stockholder Proposals and the Special Meeting.

On August 18, 2020, Senator and Cannae filed an amendment to the Senator and Cannae Solicitation Statement with the SEC.

On August 19, 2020, Senator and Cannae filed a definitive version of the Senator and Cannae Solicitation Statement with the SEC.

On August 21, 2020 and August 28, 2020, the Board held meetings, with representatives from Evercore and Skadden present, to receive an update on developments relating to the Acquisition Proposal and the Request Solicitation.

On August 31, 2020, notwithstanding that on August 9, 2020 the Company had already called the Special Meeting, Senator delivered a letter (the “Special Meeting Request Letter”) to CoreLogic’s Secretary to request that the Board call a special meeting of the Company’s stockholders in order for stockholders to consider and vote upon certain proposals set forth in the Special Meeting Request Letter. Concurrently with the Special Meeting Request Letter, Senator also delivered a notice of its intent to nominate the Senator and Cannae Nominees for appointment to the Board at the Special Meeting.

Also on August 31, 2020, Senator and Cannae filed an amendment to the Senator and Cannae Schedule 13D with the SEC.

On September 4, 2020, the Board held a meeting, with representatives from Evercore and Skadden present, to receive an update on developments relating to the Acquisition Proposal, the Request Solicitation and the

Special Meeting Request Letter and to consider certain matters relating to the Special Meeting. At the meeting, the Board unanimously determined (i) to set September 18, 2020 as the Record Date for the Special Meeting, (ii) to approve the filing of a preliminary proxy statement carefullywith respect to the Special Meeting, and (iii) that the Stockholder Proposals include the business set forth by Senator in the Special Meeting Request Letter, other than a proposal set forth therein which is not a proper subject for stockholder action and a precatory proposal which was not properly made pursuant to the Bylaws. As a result, the Board determined, in accordance with the Bylaws, not to call the additional special meeting requested by Senator as the business requested by Senator that was properly requested was already included in the business of the Special Meeting.

Later that day, the Company sent a letter to Senator advising it of the Board’s determinations with respect to the Special Meeting Request Letter and offering to Senator, even though not properly made by Senator, to call a special meeting solely to consider and vote on Senator’s precatory proposal requesting that the Board appoint the Senator and Cannae Nominees when stockholders have already voted not to remove the Incumbent Directors or when there are not vacancies on the Board to be filled.

Also on September 4, 2020, the Company filed a preliminary proxy statement with respect to the Special Meeting.

On September 8, 2020, Senator and Cannae filed a preliminary proxy statement with respect to the Special Meeting.

On September 11, 2020, the Board held a meeting, with representatives of Evercore and Skadden present, to receive an update on developments relating to the Acquisition Proposal and the Special Meeting.

On September 14, 2020, the Company filed an amendment to its preliminary proxy statement with respect to the Special Meeting.

QUESTIONS AND ANSWERS ABOUT THE SPECIAL MEETING

Q:

Why am I receiving this Proxy Statement?

A:

The Company is calling the Special Meeting voluntarily for the purpose of considering and voting on the Stockholder Proposals.

You are receiving this Proxy Statement as a stockholder of CoreLogic as of the close of business on the Record Date. As further described below, we request that you promptly use the enclosed WHITE Proxy Card to vote, by internet, by telephone, or by mail, in the event you desire to:

1.

express your opposition to, and vote AGAINST, all of the Stockholder Proposals, even if you have not already submitted a proxy to Senator or Cannae (or have no intention to do so); or

2.

revoke any proxy that you may have delivered to Senator or Cannae to vote on the Stockholder Proposals.

The Board unanimously recommends that you vote today AGAINST all of the Stockholder Proposals on the enclosed WHITE Proxy Card.

Q:

When and where will the Special Meeting be held?

A:

The Special Meeting is scheduled to be held on Tuesday, November 17, 2020 at [●] [a.m.]/[p.m.], local time, at [●].

Q:

Will the Special Meeting be held in person?

A:

We currently plan to hold the Special Meeting in person. However, as part of our contingency planning regarding the novel coronavirus (COVID-19), we are preparing for the possibility that the Special Meeting may be held by means of remote communication (sometimes referred to as a “virtual” meeting). If we take this step, we will announce the decision to do so as soon as practicable before the Special Meeting through a press release and public filing with the SEC, and details will be available for viewing under the “Investor Relations” section of our website at https://investor.corelogic.com. We recommend that you monitor this website for updated information and registration details in the event we determine to convert to a virtual meeting and you elect to participate remotely.

Q:

Who is soliciting my vote?

A:

In this Proxy Statement, the CoreLogic Board of Directors is soliciting your vote.

Giving us your proxy means that you authorize the proxy holders identified on the WHITE Proxy Card to vote your shares at the Special Meeting in the manner you direct. You may also abstain from voting. If you sign and return the enclosed WHITE Proxy Card but do not specify how your shares are to be voted, your shares will be voted in accordance with the recommendations of the Board.

ANNUAL MEETING INFORMATION AND STOCKHOLDER VOTING MATTERS

Q:

What does the Board recommend?

Your Board has unanimously determined that the Stockholder Proposals are not in the best interests of the Company and its stockholders and that stockholders should vote AGAINST all of the Stockholder Proposals.

CoreLogic held its 2020 Annual Meeting on April 28, 2020, less than five months ago, where our stockholders elected each member of the current Board, with the exception of Pamela Patenaude who joined the Board in June 2020. Each of the nine Incumbent Directors that Senator and Cannae are proposing to

remove brings valuable experience and expertise to your Board. The unique qualifications of each director, including his or her experience, expertise, attributes and skills, led to our Board’s recommendation that each should serve as a member of the Board. For more information on each director’s background, please see the section of this Proxy Statement entitled “Directors of the Company.”

While the Company’s existing corporate governance policies provide multiple avenues for stockholders to express their views, the Board does not believe that removing a majority of the Board’s recently elected directors and replacing them with directors hand-picked by Senator and Cannae is in the best interests of the Company or its stockholders. Rather, the Board believes that stockholder interests would be best served by allowing your duly elected directors to continue implementing the Company’s strategic priorities and working to enhance stockholder value.

The Stockholder Proposals seek to remove nine Incumbent Directors serving on CoreLogic’s experienced independent Board (with only one management director, our Chief Executive Officer, on the Board) and replace them with the nine hand-picked Senator and Cannae Nominees. If appointed, the Senator and Cannae Nominees would be positioned to consider and negotiate an acquisition proposal with Senator and Cannae, the same entities that nominated and are soliciting votes for them. This would allow these hand-picked Senator and Cannae Nominees to, subject to their fiduciary duties, facilitate the acquisition of the Company by Senator and Cannae at a price and on terms comparable to the Acquisition Proposal that your duly elected, highly-qualified and independent Board has determined (i) significantly undervalues the Company, (ii) raises serious regulatory concerns and (iii) is not in the best interests of the Company’s stockholders.

As a result, your Board unanimously recommends that you use the enclosed WHITE Proxy Card to vote via the internet or by telephone in accordance with the instructions on the WHITE Proxy Card or by signing, dating and returning the WHITE Proxy Card in the postage-paid envelope provided, as follows:

1.

AGAINST the Repeal Proposal (see pages [●]-[●]);

2.

AGAINST the removal of all of the Incumbent Directors named in the Director Removal Proposal (see pages [●]-[●]);

3.

AGAINST the nomination for appointment of all of the Senator and Cannae Nominees named in the Nomination Proposal (see pages [●]-[●]); and

4.

AGAINST the Bylaw Amendment Proposal (see pages [●]-[●]).

Q:

What vote is necessary to approve each matter to be voted on at the Special Meeting?

A:

The following table provides a summary of the voting criteria for the Board’s voting recommendations for the matters on the agenda for the Special Meeting:

 

Annual Meeting

Proposal

 

Board Voting
Recommendation

Date & Time

April 28, 2020

2:00 p.m. PT

Place

CoreLogic

40 Pacifica       Irvine, CA 92618

Record Date

March 4, 2020

1 Options

 

Election of the twelve persons named in this proxy statement to serve on our board of directors until the next annual meeting and until their respective successors are duly elected and qualifiedVote Required for
Approval

 

FOR

each nominee

2Abstentions

 

Approval, on an advisory basis, of the compensation of our named executive officersBroker
Discretionary
Vote
Permitted

 

Board’s Voting
Recommendation

FOR

1.    The Repeal Proposal 
“AGAINST” or “ABSTAIN” from voting or “FOR” 

3

Affirmative vote of the holders of a majority in voting power of all issued and outstanding shares entitled to vote at an election of directors of the Company
 

Ratification of the selection of PricewaterhouseCoopers LLPCOUNTED as our independent registered public accounting firm for the fiscal year ending December 31, 2020

votes AGAINST
 

FOR

NO
 AGAINST

Mailing Date:This proxy statement and form of proxy are first being sent or made available to our stockholders on or about March 19, 2020.

CORELOGIC AT A GLANCE

We delivered strong operating and financial results in 2019. Significant strategic and operational highlights included:

Enhancing business mix by increasing contributions from higher margin platform and recurring revenue streams and exit/wind down of non-core mortgage technology and default services units.

Increasing non-US mortgage volume sensitive solutions to almost 40% of total revenues, reflecting strong progress toward long-term goals.

Acquiring and/or integrating important business streams to augment and grow our insurance and spatial solutions, tax services and real estate marketing services operations.

Completing the transformation of our appraisal management company (“AMC”) operation to enhance future growth and profitability.

Investing in new technology and data-related capabilities with a focus on data structures, visualization, technology platforms and advanced automation techniques.

Progressing the migration of our technology stack to the Google Cloud.

Exceeding our cost reduction targets through a reduction in organizational complexity, refining and automating work processes, and shrinking our real estate footprint, all of which contributed to expanded operating margins.

Notable 2019 financial accomplishments include:

Revenues of $1.762 billion, an increase of 3% before the impact of foreign currency translation, our AMC transformation and the exit/wind down of non-core mortgage technology and default services units.

Adjusted EBITDA increased to $498 million, an increase of $5 million above 2018 levels.

Adjusted earnings per share (“EPS”) of $2.83 grew by 4% compared to the prior year.

Adjusted EBITDA margins up 70 basis points to 28%; adjusted EBITDA margin exceeded 30% for the second half of 2019, including margin expansion of approximately 500 basis points in the fourth quarter.

Cost management and productivity benefits of more than $20 million.

Including heightened reinvestment in growth generating initiatives and productivity programs, free cash flow (“FCF”) of $257 million was generated for the twelve months ended December 31, 2019.

Repurchased approximately 3% of our common shares and reduced debt levels by $110 million.

Initiated and declared our first quarterly dividend in December 2019 and paid in January 2020.

Company share price increased more than 30%.

Please seeAppendix A for a detailed reconciliation of adjusted EBITDA, adjusted EPS and FCF to the most directly comparable financial measures calculated in accordance with generally accepted accounting principles in the United States (“GAAP”).

BOARD OF DIRECTOR NOMINEES

The following table provides summary information about each director nominee as of the date of this proxy statement. All of the directors possess strength of character, inquiring and independent minds, mature judgment and a deep commitment to our success.

Director Experience and Expertise 

Committee 

Membership 

Director

  Joined

  CLGX

  Board

Public 

Company 

CEO/CFO/ 

COO

Technology 

Real 

Estate/ 

Insurance Proposal

 

Financial/ 

M&A Voting Options

 

Private Vote Required for
Approval

Equity/ 

Investing 

 AC SC CC NC 

Paul F. Folino

Chairman of the BoardAbstentions

 2011

Broker
Discretionary
Vote
Permitted

 

Board’s Voting
Recommendation

2.    The Director Removal Proposal “AGAINST” or “ABSTAIN” from voting or “FOR” Affirmative vote of the holders of a majority in voting power of all issued and outstanding shares entitled to vote at an election of directors of the Company COUNTED as votes AGAINST NO AGAINST
3.    The Nomination Proposal “AGAINST” or “ABSTAIN” from voting or “FOR” Affirmative vote of a majority of shares entitled to vote thereon, present in person or represented by proxy at the Special Meeting 

Frank D. Martell

COUNTED as votes AGAINST
 2017NO AGAINST

4.    The Bylaw Amendment Proposal “AGAINST” or “ABSTAIN” from voting or “FOR” Affirmative vote of the holders of a majority in voting power of all issued and outstanding shares entitled to vote at an election of directors of the Company COUNTED as votes AGAINST NO AGAINST

Q:

If I have already voted by proxy in favor of the Stockholder Proposals, is it too late for me to change my mind?

A:

No. To change your vote, simply vote via the internet or by telephone in accordance with the instructions on the enclosed WHITE Proxy Card, or sign, date and return the WHITE Proxy Card in the postage-paid envelope provided. We strongly urge you to revoke any [●] proxy card you may have returned to Senator or Cannae and to vote AGAINST all of the Stockholder Proposals. Only your latest dated proxy will count at the Special Meeting.

Q:

How can I revoke my previously submitted proxy?

A:

You may change or revoke your previously submitted proxy at any time before the Special Meeting or, if you attend the Special Meeting, by voting by ballot at the Special Meeting.

If you hold your shares as a record holder, you may change or revoke your proxy in any one of the following ways:

 1.

by re-voting at a subsequent time by internet or by telephone following the instructions on the enclosed WHITE Proxy Card;

 2.

by signing a new proxy card with a date later than your previously delivered proxy and submitting it following the instructions on the enclosed WHITE Proxy Card;

 3.

by delivering a signed revocation letter to Francis Aaron Henry, the Company’s Corporate Secretary, at the Company’s mailing address on the first page of this Proxy Statement before the Special Meeting, which states that you have revoked your proxy; or

J. David Chatham

 20104.

by attending the Special Meeting and voting by ballot. Attending the Special Meeting in person will not in and of itself revoke a previously submitted proxy. You must specifically vote by ballot at the Special Meeting in order for your previous proxy to be revoked.

Please note that participants in our 401(k) Plan may not vote their plan shares by ballot at the Special Meeting and in order to vote their shares, must provide voting instructions to Fidelity Management Trust Company (“Fidelity”) by [●], 2020 at [●] [a.m.]/[p.m.], [Eastern time]. See “How are my shares in the Company’s 401(k) Plan voted?” in this section of the Proxy Statement for more information.

If you have previously voted using a [●] proxy card sent to you by Senator or Cannae, you may change your vote and revoke your prior proxy by voting via the internet or by telephone following the instructions on the enclosed WHITE Proxy Card, or by signing, dating and returning the WHITE Proxy Card in the postage-paid envelope provided.

Your latest dated proxy card, internet or telephone vote is the one that is counted.

If your shares are held in street name by a broker, bank or other nominee, you may change your voting instructions by following the instructions of your broker, bank or other nominee.

 

Chair

Douglas C. Curling

2012Q:

Will my shares be voted if I do nothing?

John C. Dorman

2012

LOGO

Chair

Claudia Fan Munce

2017

Thomas C. O’Brien

2010

Chair

Vikrant Raina

2017

J. Michael Shepherd

2019

Jaynie Miller Studenmund

2012

David F. Walker

2010

Chair

LOGO

Mary Lee Widener

2010

* Denotes the year that director joined our board of directors (“Board”) pursuant to the separation from our predecessor, The First American Corporation (“FAC”), in 2010. Messrs. Chatham and O’Brien joined the predecessor FAC board in 1989 and 2008, respectively, and Ms. Widener joined the predecessor FAC board in 2006.

A:

If your shares of our Common Stock are held in registered name, you must sign and return a proxy card (or vote by telephone or via the internet by following the instructions on your proxy card) in order for your shares to be voted, unless you attend the Special Meeting and vote by ballot. If your shares of our Common Stock are held in street name and you do not instruct your broker, bank or other nominee how to vote your shares, then, because all of the Stockholder Proposals are “non-routine matters,” your broker or other nominee would not have discretionary authority to vote your shares on the Stockholder Proposals. If your shares of our Common Stock are held in street name, your broker, bank or other nominee has enclosed a WHITE voting instruction form with this Proxy Statement. We strongly encourage you to authorize your broker, bank or other nominee to vote your shares AGAINST all of the Stockholder Proposals by following the instructions provided on the WHITE voting instruction form.

Q:

How are my shares in the Company’s 401(k) Plan voted?

A:

For those stockholders who hold shares pursuant to the 401(k) Plan, Fidelity acts as trustee for shares held in the 401(k) Plan. The governing documents of the 401(k) Plan require Fidelity, as trustee, to vote the shares as directed by the plan participants for whose benefit the shares are held. Fidelity will use an independent third party to tabulate the voting directions of all participants who provide such directions to Fidelity. Neither the tabulator nor Fidelity will provide the individual participant voting directions to the Company, unless otherwise required by law. Shares of Common Stock for which no direction is received by Fidelity from the participants by [●], 2020 at [●] [a.m.]/[p.m.], [Eastern time], and any unallocated shares of Common Stock, will be voted in the same proportion as are the shares for which directions are received by that time.

Q:

Who should I call if I have questions about the Special Meeting?

A:

If you have any questions or need assistance in voting your shares, please contact:

 

AC  Audit CommitteeLOGO

SC501 Madison Avenue, 20th Floor  Strategic Planning

New York, New York 10022

TOLL-FREE at (877) 750-9498 (from the U.S. and Acquisition Committee

CCCanada)  Compensation Committee

NCor +1 (412) 232-3651 (from other locations)  Nominating & Corporate Governance Committee

LOGO   Audit Committee Financial Expert

CORPORATE GOVERNANCE HIGHLIGHTSSPECIAL MEETING PROCEDURES

Special Meeting Admission

Only the Company’s stockholders as of the close of business on the Record Date may attend the Special Meeting. If you are a stockholder of record you must bring proof of identification in order to be admitted to the Special Meeting. If you hold your shares through a broker, bank or other nominee, you will need to provide proof of ownership as of the close of business on the Record Date—for example, a copy of a brokerage statement showing your share ownership—and proof of identification in order to be admitted to the Special Meeting. No cameras, recording equipment, electronic devices, large bags, briefcases or packages will be permitted in the Special Meeting.

We are committedcurrently plan to sound and effective corporate governance practices that servehold the long-term interestsSpecial Meeting in person. However, as part of our stockholders. contingency planning regarding the novel coronavirus (COVID-19), we are preparing for the possibility that the Special Meeting may be held by means of remote communication (sometimes referred to as a “virtual” meeting). If we take this step, we will announce the decision to do so as soon as practicable before the Special Meeting through a press release and public filing with the SEC, and details will be available for viewing under the “Investor Relations” section of our website at https://investor.corelogic.com. We recommend that you monitor this website for updated information and registration details in the event we determine to convert to a virtual meeting and you elect to participate remotely.

Who Can Vote, Outstanding Shares

Record holders of our Common Stock as of the close of business on September 18, 2020, the Record Date, may vote at the Special Meeting. As of the Record Date, there were [●] shares of our Common Stock outstanding, each entitled to one vote.

How You Can Vote

You can vote by proxy in one of three ways:

1.

by voting over the internet using the website indicated on the WHITE Proxy Card;

2.

by telephone using the toll-free number on the WHITE Proxy Card; or

3.

by signing, dating and returning the enclosed WHITE Proxy Card in the postage-paid envelope provided.

You may also vote by attending the Special Meeting and voting by ballot.

Please note that participants in our 401(k) Plan may not vote their plan shares by ballot at the Special Meeting and in order to vote their shares, must provide voting instructions to Fidelity by [●], 2020 at [●] [a.m.]/[p.m.], [Eastern time]. See “How are my shares in the Company’s 401(k) Plan voted?” in the section of this Proxy Statement entitled “Questions and Answers About the Special Meeting” for more information.

If your shares of our Common Stock are held in street name and you do not instruct your broker, bank or other nominee how to vote your shares, then, because all of the Stockholder Proposals are “non-routine matters,” your broker or other nominee would not have discretionary authority to vote your shares on the Stockholder Proposals. If your shares of our Common Stock are held in street name, your broker, bank or other nominee has enclosed a WHITE voting instruction form with this Proxy Statement. We strongly encourage you to authorize your broker or other nominee to vote your shares AGAINST all of the Stockholder Proposals by following the instructions provided on the WHITE voting instruction form.

YOUR VOTE IS VERY IMPORTANT. You should submit your proxy via the internet or by telephone by following the instructions on the WHITE Proxy Card, or by signing, dating and returning the WHITE Proxy Card

in the postage-paid envelope provided—even if you plan to attend the Special Meeting. If you properly and timely submit your proxy, the individuals named as your proxy holders will vote your shares as you have directed.

All shares entitled to vote and represented by properly submitted proxies (including those submitted via the internet, by telephone and by mail) received before the polls are closed at the Special Meeting, and not revoked or superseded, will be voted at the Special Meeting in accordance with the instructions indicated on those proxies. If no direction is indicated on a WHITE Proxy Card, such shares will be voted by the proxy holders named on the enclosed WHITE Proxy Card according to the recommendation of our Board AGAINST all of the Stockholder Proposals.

Voting by Ballot

If you plan to attend and desire to vote at the Special Meeting, you will be provided with a ballot at the Special Meeting. Please note that if your shares of Common Stock are held of record by a broker, bank or other nominee, and you decide to attend and vote at the Special Meeting, your vote by ballot at the Special Meeting will not be effective unless you present a legal proxy, issued in your name from your broker, bank or other nominee. Please also note that as mentioned above, participants in our 401(k) Plan may not vote their plan shares by ballot at the Special Meeting and in order to vote their shares, must provide voting instructions to Fidelity by [●], 2020 at [●] [a.m.]/[p.m.], [Eastern time]. See “How are my shares in the Company’s 401(k) Plan voted?” in the section of this Proxy Statement entitled “Questions and Answers About the Special Meeting” for more information. Even if you plan to attend the Special Meeting, we encourage you to submit your proxy to vote your shares in advance of the Special Meeting.

If you are a stockholder of record you must bring proof of identification in order to be admitted to the Special Meeting. If you hold your shares through a broker, bank or other nominee, you will need to provide proof of ownership as of the close of business on the Record Date—for example, a copy of a brokerage statement showing your share ownership—and proof of identification in order to be admitted to the Special Meeting.

No cameras, recording equipment, electronic devices, large bags, briefcases or packages will be permitted in the Special Meeting. There will be security present at the Special Meeting.

How You May Revoke or Change Your Vote

You may change or revoke your previously submitted proxy at any time before the Special Meeting or, if you attend the Special Meeting, by voting by ballot at the Special Meeting. If you hold your shares as a record holder, you may change or revoke your proxy in any one of the following ways:

1.

by re-voting at a subsequent time by internet or by telephone following the instructions on the enclosed WHITE Proxy Card;

2.

by signing a new proxy card with a date later than your previously delivered proxy and submitting it following the instructions on the enclosed WHITE Proxy Card;

3.

by delivering a signed revocation letter to Francis Aaron Henry, the Company’s Corporate Secretary, at the Company’s address above before the Special Meeting, which states that you have revoked your proxy; or

4.

by attending the Special Meeting and voting by ballot. Attending the Special Meeting will not in and of itself revoke a previously submitted proxy. You must specifically vote by ballot at the Special Meeting for your previous proxy to be revoked.

If you have previously signed a [●] proxy card sent to you by Senator or Cannae, you may change your vote and revoke your prior proxy by voting via the internet or by telephone following the instructions on the enclosed WHITE Proxy Card, or by signing and dating the WHITE Proxy Card and returning it in the postage-paid envelope provided. Your latest dated proxy card, internet or telephone vote is the one that is counted.

If your shares are held in the name of a broker, bank or other nominee, you may change your voting instructions by following the instructions of your broker, bank or other nominee.

Quorum and Required Vote

The Board diligently exercises its oversight responsibilities withinspector of elections appointed for the Special Meeting will tabulate votes cast by proxy or by ballot at the Special Meeting. The inspector of elections will also determine whether a quorum is present. In order to constitute a quorum for the conduct of business at the Special Meeting, a majority of the outstanding shares of Common Stock entitled to vote at the Special Meeting must be present or represented by proxy at the Special Meeting. Shares that abstain from voting on any proposal will be treated as shares that are present and entitled to vote at the Special Meeting for purposes of determining whether a quorum is present.

With respect to shares held in street name, your broker, bank or other nominee generally has the discretionary authority to vote uninstructed shares on “routine” matters, but cannot vote such uninstructed shares on “non-routine” matters. A “broker non-vote” will occur if your broker, bank or other nominee cannot vote your shares on a particular matter because it has not received instructions from you and does not have discretionary voting authority on that matter or because your broker, bank or other nominee chooses not to vote on a matter for which it does have discretionary voting authority. We do not believe that there will be any broker non-votes at the Special Meeting because we do not believe that any of the Stockholder Proposals will qualify for discretionary voting treatment by a broker. As a result, broker non-votes will not be counted for purposes of determining whether a quorum is present.

Proposal 1: (Repeal Proposal). The approval of Proposal 1 requires the affirmative vote of the holders of a majority in voting power of all issued and outstanding shares entitled to vote at an election of directors of the Company. Abstentions and broker non-votes, if any, will have the same effect as votes against this proposal.

Proposal 2: (Director Removal Proposal). The approval of Proposal 2 requires the affirmative vote of the holders of a majority in voting power of all issued and outstanding shares entitled to vote at an election of directors of the Company. Abstentions and broker non-votes, if any, will have the same effect as votes against this proposal.

Proposal 3: (Nomination Proposal). The approval of Proposal 3 requires the affirmative vote of a majority of shares entitled to vote thereon, present in person or represented by proxy at the Special Meeting. Abstentions will have the same effect as votes against the proposal. Broker non-votes, if any, will have no effect on this proposal as brokers are not entitled to vote on such proposal in the absence of voting instructions from the beneficial owner.

Proposal 4: (Bylaw Amendment Proposal). The approval of Proposal 4 requires the affirmative vote of the holders of a majority in voting power of all issued and outstanding shares entitled to vote at an election of directors of the Company. Abstentions and broker non-votes, if any, will have the same effect as votes against this proposal.

Results of Special Meeting

The Company has retained First Coast Results, Inc. to serve as independent inspector of elections in connection with the Special Meeting. The Company intends to notify stockholders of the results of the Special Meeting by issuing a press release, which it will also file with the SEC as an exhibit to a Current Report on Form 8-K.

PARTICIPANTS IN THE SOLICITATION

Under applicable regulations of the SEC, each of the Company’s businessdirectors and affairs consistentcertain of the Company’s officers and employees are deemed to be “participants” in this proxy solicitation. For certain required information about the Company’s directors, officers and employees who are deemed to be participants in the solicitation, please see Appendix A to this Proxy Statement, entitled “Additional Information Regarding Participants in this Solicitation.”

SOLICITATION OF PROXIES

Cost and Method of this Solicitation

The cost of this proxy solicitation will be borne by the Company. The Company estimates that the total expenditures relating to this solicitation (other than salaries and wages of our officers and regular employees), but excluding costs of litigation related to the solicitation (if any), will be approximately $[●], of which $[●] has been incurred as of the date of this Proxy Statement. Our directors, officers and employees may solicit proxies in person, by mail, telephone, facsimile and email, or by other electronic means. We will pay these directors, officers and employees no additional compensation for these services. We will reimburse banks, brokers and other nominees for their reasonable, out-of-pocket expenses incurred in forwarding this Proxy Statement and related materials to, and obtaining instructions relating to such materials from, beneficial owners of Common Stock.

The Company has retained Innisfree M&A Incorporated (“Innisfree”) as its proxy solicitor. Innisfree has advised the Company that approximately [●] of its employees will be involved in the solicitation of proxies by Innisfree on behalf of the Company. Innisfree will solicit proxies in person, by mail, telephone, facsimile and email, or by other electronic means. Under our agreement with Innisfree, Innisfree will receive an estimated fee of $[●] plus reimbursement of its reasonable, out-of-pocket expenses for its services. In addition, Innisfree and certain related persons will be indemnified against certain liabilities arising out of or in connection with the highest principlesengagement.

DIRECTORS OF THE COMPANY

The following are the names and ages of business ethicsour directors, the year they became directors, their principal occupations or employment for at least the past five years and corporate governance.certain of their other directorships.

 

 

      Board Independence

Eleven of our twelve directors (92%) are independent.

      Independent Chairman

The offices of CEO and Chairman of the Board are separate, and our Chairman of the Board is an independent director.

      Annual Election of

      Directors

Our Amended and Restated Bylaws (“Bylaws”) mandate that directors be elected annually.

      Board Diversity

We have a diverse Board that includes the perspectives of three women, different professional and educational backgrounds, prior experience on other boards of directors, multiple political and social perspectives as well as directors of varying race and national origin.

      Board Refreshment

The Board regularly reviews the skills and experience of current and prospective Board members to ensure it is positioned to address changes in the business and the markets in which we operate. Over the last four years, the Board has added three new directors, each of whom brings his or her unique perspective and experience to the Board.

      Active Stockholder

      Engagement

We actively engage with our stockholders to discuss strategy, operational performance, financial results, corporate governance, compensation programs and related matters and, in 2019, reached out to stockholders representing a majority of our outstanding shares.

      Majority Voting Standard,

      with Resignation Policy

Our Bylaws mandate that directors be elected under a “majority of votes cast” standard in uncontested elections, and each incumbent director has submitted an irrevocable letter of resignation that becomes effective if he or she does not receive a majority of votes cast in accordance with our Corporate Governance Guidelines and the Board determines to accept the resignation.

      Director Overboarding

      Policy

Our Corporate Governance Guidelines provide that our directors may not serve on more than five public company boards (including our Board), and our Audit Committee members may not serve on more than three public company audit committees (including our audit committee) without prior Board approval.

      Annual Board and

      Committee Evaluations

The Board and each of its committees performs an annual evaluation under the direction of the Nominating and Corporate Governance Committee.

      Director Stock

      Ownership Guidelines

All directors receive annual equity grants and must meet equity ownership requirements during their service with us.

      Single Voting Class

We have only one class of voting securities.

      Stockholder Right to Call

      Special Meetings

Stockholders holding 10% of more of our outstanding stock have the right to call a special meeting of stockholders.

      Stockholder Right to Act

      by Written Consent

Stockholders may act by written consent on matters that could otherwise be acted upon at a meeting of stockholders.

      No Poison Pill

We do not have a stockholder rights plan, commonly known as a “poison pill,” in place.

STOCKHOLDER ENGAGEMENT PROGRAM

The Board and executive management are committed to engaging with our stockholders. Throughout the year, executive management proactively and periodically meets with current and prospective stockholders to discuss our strategic priorities, operational performance, and financial results. Also, through these discussions or separate outreach efforts, we seek to engage our top stockholders to solicit feedback on corporate governance, our compensation program, and related matters. In 2019, we conducted such outreach to our top stockholders representing a majority of our outstanding shares; these stockholders did not express concerns over our corporate governance practices or compensation program design.

EXECUTIVE COMPENSATION

We Pay for Performance. Our philosophy is designed to:

attract, motivate and retain highly-qualified executive officers critical to our long-term success;

align the interests of our executive officers with the interests of our stockholders;

reward executive officers for achievingpre-defined rigorous financial goals and strategic objectives that may not yield current-period financial results but are expected to position us for enhanced results in future periods;

encourage strategic long-term development and profitable investment in the business;

motivate and reward appropriate risk-taking to grow the business; and

support pay practices with strong corporate governance and independent Board oversight.

We aligned annual incentives to strong financial results. The Company’s underlyingpay-for-performance approach is intended to reward management appropriately for results relative to targeted performance through use of a weighted combination of three performance metrics: revenue, adjusted EBITDA, and FCF.

We assessed and rewarded our most significant strategic accomplishments. 25% of annual incentive awards for our executive officers is tied to performance on pre-determined strategic objectives as well as specific goals tied to employee satisfaction and information security across our three strategic areas of focus: growth and innovation, operational excellence, and high performing organization.

What We Do

Review total compensation relative to the median of a Peer Group of industry-aligned companies with similar executive talent needs

Tie annual incentives to achievement of multiple rigorous financial and operating goals

Use performance-based vesting for 50% of long-term compensation, tied to achievement of stretch EPS targets and total stockholder return (“TSR”) relative to our peers

Cap performance-based vesting of performance shares at 150% of target if3-year TSR ranks below 55th percentile

Require achievement of threshold adjusted net income level to be eligible to vest in restricted stock unit (“RSU”) awards

Maintain robust stock ownership guidelines and require covered executives to retain 50% of netafter-tax shares earned until the guidelines are met

Maintain a claw-back policy for incentive payments

Use an independent compensation consultant retained directly by our Compensation Committee, in its sole discretion, who performs no consulting or other services for management

Require double-trigger for accelerated vesting upon termination of employment following a change in control

Assess annually potential risks relating to the Company’s compensation policies and practices

What We Don’t Do

×

Incentivize participants to take excessive risks

×

Award bonuses to our executive officers outside of our incentive compensation plan (“ICP”)

×

Allow margining, derivative, or speculative transactions, such as hedges, pledges, and margin accounts, by employees, including executive officers, and directors

×

Provide excessive perquisites

×

Provide excise taxgross-ups upon termination with a change in control or taxgross-ups for other compensation

×

Allow for repricing of stock options without stockholder approval

×

Pay “single-trigger”change-of-control cash payments or have “single-trigger” equity vesting

PROPOSAL 1 – ELECTION OF DIRECTORS

OUR BOARD RECOMMENDS A VOTE “FOR”

EACH OF THE DIRECTOR NOMINEES

GeneralOur Bylaws require that directors be elected annually, and our Amended and Restated Certificate of Incorporation provides that the Board shall consist of such number of directors, as is determined from time to time, exclusively by resolution adopted by the affirmative vote of a majority of the directors then in office. Pursuant to resolutions adopted by the Board, our Board consists of 12 directors, each of whom, other than Frank D. Martell, our President and Chief Executive Officer, is “independent” pursuant to the applicable rules of the New York Stock Exchange (“NYSE”) and the categorical independence standards contained in our Corporate Governance Guidelines. Our Corporate Governance Guidelines are available on the Investor Relations section of our website under “Leadership & Governance — Highlights” at www.corelogic.com.

The Board, upon the recommendation of the Nominating and Corporate Governance Committee, has nominated the 12 individuals set forth under “Nominees” below for election at the Annual Meeting, to serve until the 2021 annual meeting of stockholders and until their respective successors are duly elected and qualified.

Voting StandardUnder our Bylaws, in an uncontested election, each director nominee will be elected to the Board to serve until the next annual meeting and until his or her successor is duly elected and qualified, if the nominee receives a majority of votes cast (meaning the number of shares voted “for” a nominee must exceed the number of shares voted “against” such nominee) with respect to such director nominee’s election. Under our Corporate Governance Guidelines, each director nominee who was in office prior to the election (each, an “incumbent director”) is required to submit, and has submitted, to the Board an irrevocable letter of resignation from the Board and all committees thereof, which will become effective if the director does not receive a majority of votes cast and the Board determines to accept the resignation. The Nominating and Corporate Governance Committee will make a recommendation to the Board about whether to accept or reject the resignation, or whether to take other action. The Board will act on the recommendation of the Nominating and Corporate Governance Committee within 90 days from the date the election results are certified and thereafter promptly disclose its decision in a Current Report onForm 8-K.

The majority voting standard does not apply, however, in a contested election, where the number of nominees for director exceeds the number of directors to be elected. In a contested election, directors are instead elected by a plurality of shares represented in person or by proxy at any such meeting and entitled to vote on the election of directors (meaning that the number of director nominees who receive the highest number of shares voted “for” their election are elected). The election of directors at the Annual Meeting will not be contested. Abstentions and brokernon-votes are not considered votes cast for the foregoing purpose and, therefore, will not be counted in determining the outcome of the election of the director nominees.

NomineesSet forth below is information concerning each person nominated and recommended to be elected as a director by our Board. The information set forth below is as of the date of this proxy statement. All of the nominees currently serve as our directors and, other than J. Michael Shepherd, were previously elected to the present term of office at our 2019 annual meeting of stockholders. Mr. Shepherd was initially recommended as a potential director candidate by our President and CEO. His candidacy was then considered by the Nominating and Corporate Governance Committee, and he was interviewed by various members of the Nominating and Corporate Governance Committee and the Board.

All of the director nominees listed below have consented to being named in this proxy statement and to serve as directors if elected. If any nominee should become unable or unwilling for good cause to serve as a director, the proxies will be voted for such substitute nominee(s) as shall be designated by our Board or our Board may reduce the number of directors on our Board. Our Board currently has no knowledge that any of the nominees will be unable or unwilling to serve.

See the section entitled “Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters” for information pertaining to stock ownership of the nominees. There are no family relationships among any of the nominees or any of our executive officers. In addition, there were and are no arrangements or understandings between any director and any other person pursuant to which any director was or is to be selected as a director.

J. David Chatham

Age 69

70

  

Independent Director sinceSince 2010

 

Board Committees Principal Occupation|Audit, Compensation (Chair)

Biographical InformationMr. Chatham has served as President and Chief Executive Officer of Chatham Holdings Corporation

Board Committees | Audit, Compensation (Chair)

Expertise

•  Real Estate

•  Financial/Mergers and the Chatham family of real estate businesses, specializing in real estate development, building, brokerage, asset management, mortgage lending, valuation/independent appraisal and other associated industries, since 1991. Mr. Chatham joined the board of our predecessor company in 1989 and became a member of our Board in June 2010. From 2003 to 2009, he served on the board of First Advantage Corporation, a formerNasdaq-listed company and former subsidiary of ours, which provided screening analytics and identity solutions. During his career, Mr. Chatham received a gubernatorial appointment to both the Georgia Growth Strategies Commission and the Department of Community Affairs Board. In addition, he received the Free Enterprise Award from the Georgia Society of CPAs and serves as an Emeritus Trustee of the University of Georgia, as well as on numerous industry boards.Acquisitions

 

•  Private Equity/Investing

Biographical Information Mr. Chatham has served as President and Chief Executive Officer of Chatham Holdings Corporation and the Chatham family of real estate businesses, specializing in real estate development, building, brokerage, asset management, mortgage lending, and valuation/independent appraisal since 1991.

Mr. Chatham joined our Board in June 2010. From 2003 to 2009, he served on the Board of Directors of First Advantage Corporation, a former Nasdaq-listed company and former subsidiary of ours, which provided screening analytics and identity solutions.

Mr. Chatham received a gubernatorial appointment to both the Georgia Growth Strategies Commission and the Department of Community Affairs Board of Directors. In addition, he received the Free Enterprise Award from the Georgia Society of CPAs and serves as an Emeritus Trustee of the University of Georgia, as well as on numerous industry boards of directors.

Qualifications and ExperienceThrough his significant experience in the real estate arena, Mr. Chatham enhances our Board’s understanding of the mortgage, valuation and appraisal businesses, as well as the residential and commercial real estate markets. His broad executive and board experience provides particularly useful background for his service as Chair of the Compensation Committee and as a member of our Audit Committee.

 

 

Douglas C. Curling

Age 65

66

  

Independent Director sinceSince 2012

 

Principal Occupation| Principal and Managing Director of New Kent Capital LLC

Board Committees |Nominating and Corporate Governance, Strategic Planning and Acquisition

Other Public Company Board |Aaron’s, Inc.

 

Expertise

•  Public Company Chief Financial Officer and Chief Operating Officer

•  Technology

•  Insurance Services

•  Financial/Mergers and Acquisitions

•  Private Equity/Investing

 

Biographical InformationSince 2010, Mr. Curling has been a principal and managing director of New Kent Capital LLC, afamily-run investment business, and a principal at New Kent Consulting LLC, a consulting business that he founded.

From 1997 until 2008, Mr. Curling held various executive positions at ChoicePoint Inc., a provider of identification and credential verification services that was sold to Reed Elsevier, including serving as President from 2002 to 2008, as Chief Operating Officer from 1999 to 2008, and as Executive Vice President, Chief Financial Officer and Treasurer from 1997 to 1999.

Mr. Curling also served as a director of ChoicePoint Inc. from 2000 to 2008. Prior to joining ChoicePoint Inc., Mr. Curling served in various financial roles at Equifax, Inc., a credit bureau, from 1989 to 1997.

Mr. Curling currently serves as a director of Aaron’s, Inc., a specialty retailer of furniture, consumer electronics, computers, appliances and home accessories.

 

Qualifications and ExperienceMr. Curling brings his experience operating a publicly tradedpublicly-traded data business and deep knowledge of the insurance industry to provide insight on data monetization and growth strategies. His operational background and board experience are particularly useful for his service as a member of the Nominating and Corporate Governance Committee and the Strategic Planning Committee.

Mr. Curling’s relevant mergers and acquisitions and valuation experience includes ChoicePoint Inc.’s $4.0 billion sale to Reed Elsevier.

 

John C. Dorman

Age 69

70

  

Independent Director sinceSince 2012

 

Principal Occupation| Private Investor

Board Committees |Audit, Strategic Planning and Acquisition (Chair)

 

Expertise

•  Public Company Chief Executive Officer

•  Technology

•  Financial/Mergers and Acquisitions

•  Private Equity/Investing

 

Biographical InformationMr. Dorman is a private investor. He previously served as the Chairman from 2010 to March 2013,co-Chairmanin 2010 and interim Chief Executive Officer in 2010 ofvarious roles at Online Resources Corporation, a developer and supplier of electronic payment services that was acquired by ACI Worldwide, Inc. Prior, including as Chairman from 2010 to that, fromMarch 2013 and interim Chief Executive Officer in 2010.

From 1998 to 2003, he served as Chief Executive Officer of Digital Insight Corporation, a provider of software as a service for online banking and bill payment for financial institutions that was acquired by Intuit, Inc., and as Senior Vice President of the Global Financial Services Division of Oracle Corporation from 1997 to 1998.

From 1983 to 1997, Mr. Dorman was the Chief Executive Officer of Treasury Services Corporation, a provider of modeling and analysis software for financial institutions, which was acquired by Oracle Corporation in 1997.

Mr. Dorman currently serves as a director of loanDepot, LLC, a nationalnon-bank lender serving consumers, and DeepDyve, Inc., an online rental service for scientific and scholarly research. Mr. Dorman currently serves as a Board Leadership Fellow for the National Association of Corporate Directors (NACD). He has been certified as a cybersecurity oversight director by the NACD.

 

Qualifications and ExperienceMr. Dorman’s prior experience as chief executive officerChief Executive Officer of a technology service provider during a period of rapid growth and expansion enables him to provide insights into our operational, technology and growth strategies. His strategic perspective in the financial innovation space and board experience are also particularly useful for his service as Chair of our Strategic Planning and Acquisition Committee and as a member of our Audit Committee.

Mr. Dorman has extensive mergers and acquisitions and valuation experience, having overseen more than $2.6 billion of mergers and acquisitions transactions, including Online Resources’ sale to ACI Worldwide, Digital Insight Corp’s $1.3 billion sale to Intuit, Digital Insight Corp’s acquisition of nFront and the sale of Zantaz, Inc. to Autonomy PLC.

 

 

Paul F. Folino, Chairman of the Board

Age 75

  

Independent Director sinceSince 2011

 

Principal Occupation| Chairman of the CoreLogic Board

Board Committees |Audit, Compensation, Nominating and Corporate Governance, Strategic Planning and Acquisition

Other Public Company Board |Lantronix, Inc.

 

Expertise

•  Public Company Chief Executive Officer

•  Technology

•  Financial/Mergers and Acquisitions

 

Biographical InformationMr. Folino was Executive Chairman of the boardBoard of Directors of Emulex Corporation, an information technology product manufacturer specializing in servers, network and storage devices for data centers, from 2006 until his retirement in 2011, and continued as a board member of the Board of Directors until 2015. Previously, he served as a director of Emulex from 1993 to 2015, as Chairman from 2002 to 2006, and as Chief Executive Officer from 1993 to 2006.

Mr. Folino serves on the boardBoard of Directors of Lantronix, Inc., a provider of device networking and remote access products for remote IT management, Commercial Bank of California, afull-serviceFDIC-insured full-service FDIC-insured community bank, and on several charitable organizations.

Mr. FolioFolino previously served on the boardBoard of Directors of Microsemi Corporation, a provider of semiconductor solutions, from 2004 until its sale in 2018.

 

Qualifications and ExperienceMr. Folino brings significant expertise regarding information technology and intellectual property. With his strong executive background, Mr. Folino provides valued input on a variety of leadership, strategy,strategic, corporate governance and organizational matters. His extensive experience as a director of publicly tradedpublicly-traded companies is particularly useful for his service as our Chairman of the Board.

Mr. Folino has extensive mergers and acquisitions and valuation experience, having overseen over $11 billion of transformative transactions—including Lantronix’s acquisition of Intrinsyc technologies, Emulex’s acquisition of Vixel, and Microsemi’s acquisitions of Vitesse Semiconductor, Microsemi RFIS and ACTEL, as well as Microsemi’s $9.9 billion sale to Microchip Technology.

 

Frank D. Martell

Age 60

  Director Since 2017

 

Director since 2017  Principal Occupation| President and Chief Executive Officer of CoreLogic

Board Committee | Strategic Planning and Acquisition

 

Board Committee |Strategic PlanningExpertise

•  Public Company Chief Executive Officer, Chief Financial Officer and AcquisitionChief Operating Officer

 

•  Data and Analytics

•  Technology

•  Real Estate/Insurance

•  Financial/Mergers and Acquisitions

•  Private Equity/Investing

 

Biographical InformationMr. Martell has served as our President and Chief Executive Officer since March 2017. Prior to that, he served as our Chief Financial Officer from August 2011 to April 2016 and Chief Operating Officer from July 2014 to March 2017.

Before joining the Company, Mr. Martell served as the President and Chief Executive Officer of the Western Institutional Review Board from 2010 to 2011, a leading provider of review, approval and oversight for clinical research studies involving human subjects, and beforesubjects. Before that, he served as Chief Financial Officer of Information Services Group, Inc. from 2007 to 2009 and Advantage Solutions from 2009 to 2010.

From 1996 to 2006, Mr. Martell held various leadership positions at ACNielsen Corporation, including President of Asia Pacific and Emerging Markets, Executive Vice President of the Marketing Information Group, and Chief Operating Officer of ACNielsen and presidentPresident of Europe, Middle East and Africa. Mr. Martell spent the initialfirst 15 years of his business career in a variety of financial leadership roles at General Electric.

Mr. Martell currently serves on the boardBoard of BankDirectors of the West, awholly-owned subsidiary of BNP Paribas, and the Mortgage Bankers Association. Mr. Martell also serves onAssociation, the board ofleading industry association for housing finance; Operation HOPE, a provider of financial literacy empowerment for youth and financial capability for communities.communities; and the Marine Corps Scholarship Foundation, which provides academic scholarships to children of Marine Corps and Navy servicemembers. Mr. Martell also serves on the Board of Directors of Bank of the West, a subsidiary of BNP Paribas.

 

Qualifications and ExperienceMr. Martell has worked with us in various executive leadership capacities for over eightnine years to transform the Company into a global leader in residentialproperty-relateddata-driven property-related data-driven insights. Since his arrival at the Company, the share price has increased more than eight-fold. He is a proven leader ofdata-driven organizations with a track record of delivering exceptional operating and financial performance. In addition, Mr. Martell’s position as our President and Chief Executive Officer gives him intimate knowledge of our culture, operations, strategy, financial and competitive position.

Mr. Martell has lead more than 30 acquisitions and divestitures since joining CoreLogic, including most recently the acquisition of Symbility Solutions, Inc.

 

Claudia Fan Munce

Age 60

61

  

Independent Director sinceSince 2017

 

Principal Occupation| Venture Advisor at New Enterprise Associates

Board Committees |Compensation, Strategic Planning and Acquisition

Other Public Company Board |Best Buy Co., Inc.

 

Experience

•  Technology

•  Financial/Mergers and Acquisitions

•  Private Equity/Investing

 

Biographical InformationMs. Munce has served as a Venture Advisor at New Enterprise Associates, one of the world’s largest and most active venture capital firms, since January 2016.

Previously, she served as a Managing Director of IBM Venture Capital Group and Vice President of Corporate Strategy at IBM Corp. from 2004 to 2015; Director of Strategy, IBM Venture Capital Group from 20032000 to 2004; and Head of Technology Transfer and Licensing, IBM Research from 1994 to 2000.

Ms. Munce serves on the boardBoard of Directors of Best Buy Co., Inc., a retailer of electronic goods and services, and Bank of the West, awholly-owned subsidiary of BNP Paribas, as well as several industry boards of directors.

 

Qualifications and ExperienceMs. Munce has been certified as a cybersecurity oversight director by the NACD, and brings extensive experience in identifying emerging technologies and helping firms advance growth, and provides particular expertise in technology, innovation and strategy. This experience is particularlyespecially useful as a member of our Strategic Planning and Acquisition Committee.

 

Thomas C. O’Brien

Age 69

66

  

Independent Director sinceSince 2010

 

Principal Occupation| Chairman, PartsTrader Markets Limited

Board Committees |Compensation, Nominating and Corporate Governance (Chair)

 

Experience

•  Public Company Chief Executive Officer

•  Insurance Services

•  Private Equity/Investing

 

Biographical InformationMr. O’Brien served as the Chief Executive Officer and President of Insurance Auto Auctions Inc., a provider of specialized services for automobile insurance, from 2000 to April 2014, and as a director from 2000 to 2007.

Mr. O’Brien joined the board of our predecessor in 2008 and became a member of our Board in June 2010.

Mr. O’Brien is the chairmanChairman of the boardBoard of Directors of PartsTrader Markets Limited, an online tendering system based in New Zealand. He previously served on the boardBoard of Directors of KAR Auction Services, Inc., a provider of vehicle auction services in North America, from 2007 to June 2014, and of Fenix Parts, Inc., a recycler and reseller of automotive parts, from May 2015 to February 2018.

 

Qualifications and ExperienceAs a result of his experience as a Chief Executive Officer, Mr. O’Brien provides valued insight into our management practices. His leadership skills, board experience and background in corporate governance are particularly useful for his service as Chair of our Nominating and Corporate Governance Committee and as a member of our Compensation Committee.

 

Vikrant RainaPamela Hughes Patenaude

Age 52

59

  Independent Director Since 2020

 

Director since 2017  Principal Occupation| Consultant; Former Deputy Secretary of the U.S. Department of Housing and Urban Development (HUD)

Board Committee | Audit

Experience

•  Real Estate/Housing Finance

•  Regulatory Compliance

 

Biographical Information Ms. Patenaude currently serves as Principal of Granite Housing Strategies, LLC, a strategic advisory firm focused on real estate development and disaster recovery management, and has worked there since May 2019, where she oversaw $37 billion in disaster funding to support the long-term recovery efforts following Hurricanes Harvey, Maria and Irma.

Ms. Patenaude served as the Deputy Secretary of the U.S. Department of Housing and Urban Development (HUD) from 2017 to 2019 and previously served in other positions at HUD, including Assistant Secretary for Community Planning and Development and Assistant Deputy Secretary for Field Policy and Management.

From 2014 to 2017, Ms. Patenaude served as President of the J. Ronald Terwilliger Foundation for Housing America’s Families. Ms. Patenaude has also served in several leadership positions at institutions focused on housing policy and community development including the Director of Housing Policy for the Bipartisan Policy Center, Executive Vice President of the Urban Land Institute (ULI) and Founding Executive Director of the ULI Terwilliger Center for Workforce Housing.

Ms. Patenaude currently serves on the Board of Directors of Habitat for Humanity International, the Bipartisan Policy Center and is a Trustee of the Homebuilders Institute (HBI). In addition, she serves as a member of the Board of Directors of the FDIC Advisory Committee on Economic Inclusion.

Qualifications and Experience Ms. Patenaude’s successful and distinguished career focused on housing policy and community development adds unique and relevant insight and expertise to our Board which is invaluable to CoreLogic’s role as a leading global property information, analytics and data-enabled solutions provider. Ms. Patenaude’s background is particularly useful for her service on our Audit Committee.

Vikrant Raina

Age 53

Independent Director Since 2017

Principal Occupation| Chief Executive Officer and Managing Partner of BV Investment Partners

Board Committees |Nominating and Corporate Governance, Strategic Planning and Acquisition

 

Expertise

•  Technology

•  Financial/Mergers and Acquisitions

•  Private Equity/Investing

 

Biographical InformationMr. Raina currently serves as CEOChief Executive Officer and Managing Partner of BV Investment Partners, amiddle-market private equity firm focused on technology services and business services sectors, and has worked there since 1999. He manages the firm’s investment strategy, risk management and limited partnership relations activities and chairs the Investment, Operating and Valuation committees of the firm.

Prior to that, he was an Executive Director in the communications, media and technology group at Goldman Sachs (Asia) and a project leader at The Boston Consulting Group.

Through his role at BV Investment Partners, Mr. Raina serveshas led many mergers and acquisitions transactions including at Reimagine Holdings Group, Risk International and Franco Signor and served on a variety of privatemore than 10 company boards of directors.directors including Camp Systems, Survey Sampling Inc., and TriCore Solutions.

 

Qualifications and ExperienceMr. Raina brings extensive experience in identifying emerging technologies and helping firms advance growth, and contributes deep experience in technology and data services, business services, risk management and investment strategies. This experience is particularly useful as a member of our Strategic Planning and Acquisition Committee.

 

 

J. Michael Shepherd

Age 64

65

  Independent Director Since 2019

 

Director since 2019  Principal Occupation| Chairman of Bank of the West

Board Committee | Nominating and Corporate Governance

 

Board Committees |Nominating and Corporate GovernanceExpertise

 

•  Chief Executive Officer of Significant Regional Bank

•  Real Estate/Insurance

•  Regulatory Compliance

 

Biographical InformationMr. Shepherd currently serves as Chairman of Bank of the West, a position he has held since June 2008. He previously also served as CEOChief Executive Officer of Bank of the West from 2008 through June 2016. Prior to that, Mr. Shepherd held various roles with Bank of the West, including President from 2006 to 2008 and Chief Administrative Officer and General Counsel from 2004 to 2008. 2006.

Prior to joining Bank of the West, Mr. Shepherd served as General Counsel of The Bank of New York Company, Inc. and Shawmut National Corporation.

Mr. Shepherd also served in various public sector appointments, including Senior Deputy Comptroller of the Currency, Associate Counsel to the President of the United States, and Deputy Assistant Attorney General.

In addition to his role as Chairman of Bank of the West, Mr. Shepherd currently serves as a director of the Pacific Mutual Holdings (the parent of the Pacific Life Insurance Company) and BNP Paribas USA. He is also a member of the Council on Foreign Relations and the Business Executive Council of the University of California.

 

Qualifications and ExperienceMr. Shepherd is a banking, housing finance and public policy leader and previously served as a member and President of the Federal Advisory Council of the Federal Reserve Board. The powerful combination of his public service, regulatory and financial housing policy experience as well as top-tier commercial and retail banking leadership, and his perspectives gained through his diverse experience, are an important contribution to the Board’s oversight of CoreLogic.

 

Jaynie Miller Studenmund

Age 65

66

  

Independent Director sinceSince 2012

 

Principal Occupation| Public board director; Retired Chief Operating Officer, Overture Services Inc.

Board Committees |Compensation, Nominating and Corporate Governance

Other Public Company Boards |ExlService Holdings, Inc., Pacific Premier Bancorp Inc., and funds for Western Asset Management

 

Expertise

•  Public Company Chief Operating Officer

•  Marketing, Product Management, Strategy, and Team Building

•  Financial/Mergers and Acquisitions

 

Biographical InformationMs. StudenmundStudenmund’s career spans 40 years and combines management consulting, C-suite line operating roles, and public board service. She spent the first stage of her career leading three of the Nation’s largest consumer banking businesses, and then pivoted to being the Chief Operating Officer for two internet-digital companies in the early days of the internet. Since 2004, she has more than 35 years of executive management experiencefocused on public boards and is a seasoned public company director, serving as a C-suite operating executivenonprofits. Her career has been primarily forin digital, data, and financial services and digital companies.

From 2001 to 2004, Ms. Studenmund was the COO forChief Operating Officer of Overture Services Inc., a public company that transformed online advertising by pioneering paid search and helped create what is today the $60 billion SEM (search engine marketing) industry and was acquired by Yahoo. Overture successfully scaled and experienced hyper growth during her three-year tenure. From 1999 to 2001, Ms. Studenmundshe was the President & COOChief Operating Officer of PayMyBills, a leading bill management company. Prior

From 1982 to the that, she1997, Ms. Studenmund held executive positions in the financial services industry from 1982 to 1997 and was, in succession, the EVP and top executive responsible for retail and consumer businesses during the era of deregulation, growth, and consolidation, first at First Interstate of California (now Wells Fargo) and then Great Western Bank and Home Savings (now JP Morgan Chase). She began her career in management consulting with Booz, Allen & Hamilton.Hamilton and Data Resources Inc

Today Ms. Studenmund also serves on the boardBoard of Directors of Pacific Premier Bancorp Inc., a regional bank; Exl Service Holdings, Inc., a global digital intelligence, data analytics, and operations management company; and funds for Western Asset Management.Management, a global fixed income investment manager. Previous public company boardsBoards of Directors include Pinnacle Entertainment, an owner, operator, and developer of casinos and entertainment properties, from 2012 to 2018; LifeLock, Inc., an identity theft protection and fraud management company, from 2015 to 2017; Orbitz Worldwide, Inc., a leading online travel firm, from 2007 to 2014; and aQuantive, an advertising agency and digital ad serving platform from 2004 to 2007. She also currently serves as a Board Leadership Fellow for the National Association of Corporate Directors (NACD).

Qualifications and ExperienceMs. Studenmund spent muchbrings broad top executive line operating and public director experience as noted above. This includes extensive mergers and acquisitions and valuation experience. As a director, she has overseen Pacific Premier Bancorp’s nearly $1 billion acquisition of her earlier career leading some of the largest consumer banking businessesOpus Bank, LifeLock’s $2.1 billion sale to Symantec, Pinnacle Entertainment’s $5.6 billion sale to Penn National Gaming and then pivotedaQuantive’s $5.2 billion sale to being the COO in significant, successful internet-digital companies. She isMicrosoft. As a seasoned director of public and private companies and a NACD Board Leadership Fellow. She has helped guide the growth of multiple public companies including EXLService, LifeLock, Orbitz Worldwide, aQuantive,top executive at Overture Services, she played a key role in the transaction process and PayMyBills. ultimate sale to Yahoo. As a financial services executive, Ms. Studenmund led over a dozen acquisitions and integrations and played a principal role in the sale of Great Western and Home Savings, the two largest thrift banks in the United States at the time.

Ms. Studenmund’s executiveC-suite profit center and line operating experience, especially with fast growing,fast-growing, innovative companies, and deep experience as a director forof public companies, is particularly useful background for our Compensation and Nominating and Governance Committees.

 

 

David Walker

Age 66

  

Independent Director sinceSince 2010

 

Principal Occupation| Retired; Former Director of the Program of Accountancy at the University of South Florida (USF), and former global accounting firm partner

Board Committees |Audit (Chair), Strategic Planning and Acquisition

Other Public Company Boards |Chicos FAS, Inc., CommVaultCommvault Systems, Inc.

 

Expertise

•  Risk Oversight, Accounting and Financial Reporting

•  Technology, including Financial/Mergers and Acquisitions

 

Biographical InformationMr. Walker served as the director of the Program of Accountancywas at the University of South Florida in St. PetersburgUSF from 2002 through June 2009, and also led the Program of Distinction in Social Responsibility and Corporate Reporting at the University during that time. to 2009.From 1986 to 2002, Mr. Walkerhe was a partner with Arthur Andersen LLP, an accounting firm, having led the firm’s assurance and business advisory practice for the Florida Caribbean Region from 1999 through 2002.

Mr. Walker joined the board of our predecessor company in 2010 and became a member of our Board in June 2010. Mr. Walker also serves on the boards of CommVaultdirectors of Commvault Systems, Inc., a data and information management software company, and Chico’s FAS, Inc., a women’s specialty retailer, where he is currently chairman of the board.retailer. Mr. Walker previously served as a director of Technology Research Corporation, Inc., Paradyne Networks, Inc. and First Advantage Corporation.

 

Qualifications and ExperienceMr. Walker is a certified public accountant and certified fraud examiner. His extensive experience in public accounting and on corporate boards of directors, including as past Chairman of the Board of Directors of Chico’s and a past and present chair of other audit committees, together with his role as an NACD Board Leadership Fellow, contribute to the Board’s oversight of our financial reporting, controls and risk management. He also has mergers and acquisitions experience, having overseen Paradyne Networks’ sale to Zhone Technologies.

Mr. Walker’s background is particularly useful for his service as Chair of our Audit Committee and member of our Strategic Planning and Acquisition Committee.

Mary Lee Widener

Age 81

Director since 2010  

Board Committee |Audit

Biographical InformationMs. Widener is a community investment consultant. From 1974 until her retirement in 2009, Ms. Widener was President and Chief Executive Officer of Neighborhood Housing Services of America, Inc., a nonprofit housing agency. Ms. Widener joined the board of our predecessor in 2006 and became a member of our Board in June 2010. Ms. Widener also previously served on the board of The PMI Group, Inc. from 1995 to October 2013 and served as Chairman of the Federal Home Loan Bank of San Francisco from 1994 to 2004. Ms. Widener has been involved in her community throughout her career and was instrumental in the development of a degree program in support of the community development field at the University of San Francisco College of Professional Studies.

Qualifications and ExperienceGiven her extensive experience with organizations dedicated to revitalizing neighborhoods and increasing homeownership opportunities, Ms. Widener brings to our Board a valuable perspective on housing policy. She provides a strong understanding of the opportunities we have to improve home ownership in underserved communities and the challenges residents face in purchasing homes in those communities. Her executive experience is also particularly relevant background for her service as a member of our Audit Committee.

PROPOSAL 2 –ADVISORY VOTE TO APPROVE NAMED EXECUTIVE OFFICER COMPENSATION

OUR BOARD RECOMMENDS A VOTE “FOR”

THE APPROVAL, ON AN ADVISORY BASIS, OF THE COMPENSATION

OF OUR NAMED EXECUTIVE OFFICERS

We are providing our stockholders with the opportunity to cast anon-binding vote to approve, on an advisory basis, the compensation of our named executive officers (“NEOs”). We urge stockholders to read the “Compensation Discussion and Analysis” section below, which describes in more detail how our executive compensation policies and practices are designed and operate to achieve our pay for performance compensation philosophy, as well as the “Summary Compensation Table” and other related compensation tables and narratives.

Our compensation program is heavily weighted toward performance-based compensation that provides a direct link between rigorous goals for corporate performance and pay outcomes for our executive officers. Our annual incentive plan also ties pay outcomes to the achievement of key strategic objectives that we believe will drive longer-term value to stockholders. We believe that our compensation program provides effective incentives for strong operating results by appropriately aligning pay and performance.

In the advisory vote at our 2019 annual meeting, nearly 96% of the votes cast by our stockholders supported our executive compensation policies and practices. While we have regularly received strong support for our executive pay practices, the Compensation Committee, with advice from independent third-party advisors, continues to engage in periodic reviews of our executive compensation and benefits programs and makes changes as appropriate to reflect our compensation philosophy and objectives, with consideration given to evolving trends and stockholder feedback.

Accordingly, the Board requests your advisory vote to approve the following resolution at the Annual Meeting:

RESOLVED, that the compensation paid to the Company’s named executive officers, as disclosed in this proxy statement pursuant to Item 402 ofRegulation S-K (which disclosure includes the Compensation Discussion and Analysis, the compensation tables and the narrative discussion that accompanies the compensation tables), is hereby APPROVED.”

This proposal to approve the compensation paid to our NEOs is advisory only and will not be binding upon us or the Board, and will not be construed as overruling a decision by us or the Board or creating or implying any additional fiduciary duty for us or our Board. The Board and the Compensation Committee value the opinions of our stockholders. The Compensation Committee will consider the outcome of the vote when considering future executive compensation arrangements.

Our policy is to provide stockholders with an annual opportunity to approve the compensation of the NEOs. The next advisory vote on the compensation of our NEOs will occur at the 2021 annual meeting of stockholders.

Voting StandardApproval, on an advisory basis, of the compensation of our NEOs requires the affirmative vote of the holders of a majority of shares of common stock present in person or represented by proxy and entitled to vote on the matter (meaning that of the shares represented at the meeting and entitled to vote on the proposal, a majority of them must be voted “for” the proposal for it to be approved). Abstentions will have the same effect as a vote “against” this proposal, andbroker-non votes will not be counted in determining the outcome of this proposal.

PROPOSAL 3 – RATIFICATION OF SELECTION OF INDEPENDENT

REGISTERED PUBLIC ACCOUNTING FIRM

OUR BOARD RECOMMENDS A VOTE “FOR”

THE RATIFICATION OF THE SELECTION OF OUR INDEPENDENT REGISTERED

PUBLIC ACCOUNTING FIRM

The Audit Committeeaddress of the Board is responsible for the appointment, compensation, retention, and oversight of the independent registered public accounting firm retained to audit the Company’s financial statements. The Audit Committee conducts an annual evaluation of the independent registered public accounting firm’s qualifications, performance, and independence. The Audit Committee exercises sole authority to approve all audit engagement fees. In addition to ensuring the regular rotation of the lead audit engagement partner at least every five years as required by law, the Audit Committee is involved in the selection of, and reviews and evaluates, the lead audit engagement partner.

The Audit Committee has selected PricewaterhouseCoopers LLP (“PwC”) to serve as our independent registered public accounting firm for the fiscal year ending December 31, 2020. PwC has audited the historical consolidated financial statements of our Company since June 2010, and of our predecessor, FAC, for all annual periods since 1954. To help ensure continuing auditor independence, the Audit Committee periodically considers whether there should be a regular rotation of the independent registered public accounting firm.

Representatives of PwC will be present at the Annual Meeting, will have an opportunity to make a statement if they wish and will be available to respond to appropriate questions.

Selection of our independent registered public accounting firm is not required to be submitted for stockholder approval by our Bylaws, but the Audit Committee is seeking ratification of its selection of PwC from our stockholders as a matter of good corporate governance. If the stockholders do not ratify this selection, the Audit Committee may, in its discretion, reconsider its selection of PwC and will either continue to retain PwC or appoint a new independent registered public accounting firm. Even if the selection is ratified, the Audit Committee may, in its discretion, appoint a different independent registered public accounting firm at any time during the year if it determines that such a change would be in our and our stockholders’ best interests.

Voting StandardRatification of the selection of PwC as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2020 requires the affirmative vote of the holders of a majority of shares of common stock present in person or represented by proxy and entitled to vote on the matter (meaning that of the shares represented at the meeting and entitled to vote on the proposal, a majority of them must be voted “for” the proposal for it to be approved). Abstentions will have the same effect as a vote “against” this proposal. We do not expect any brokernon-votes on this matter.

Report of the Audit Committee

The following report of the Audit Committee is not soliciting material, is not deemed filed with the U.S. Securities and Exchange Commission (the “SEC”) and is not incorporated by reference in any filing of the Company under the Securities Act of 1933, as amended (the “Securities Act”), or the Securities Exchange Act of 1934, as amended (the “Exchange Act”), whether made before or after the date of this proxy statement and irrespective of any general incorporation language in such filing.

The Audit Committee consists of fivenon-management directors: Messrs. Walker, Chatham, Dorman and Folino and Ms. Widener. All of the members meet the independence criteria and financial literacy requirements of the SEC and NYSE. The Audit Committee has certain duties and powers as described in its written charter adopted by the Board. A copy of the charter can be found on the Investors section of our website under Leadership & Governance-Highlights atwww.corelogic.com.

The Audit Committee reviews the Company’s accounting policies and financial reporting and disclosure practices, system of internal controls, internal audit process and the process for monitoring compliance with laws, regulations and corporate policies on behalf of the Board. The Company’s management is responsible for establishing and maintaining adequate internal control over financial reporting, for preparing the financial statements and for the public reporting process. The Audit Committee has reviewed the Company’s audited consolidated financial statements and discussed them with management, although the Audit Committee members are not the auditors or certifiers of the Company’s financial statements.

PwC, the Company’s independent registered public accounting firm for 2019, is responsible for expressing opinions on the conformity of the Company’s audited financial statements with generally accepted accounting principles and on the Company’s internal control over financial reporting. The Audit Committee has discussed with PwC the matters required to be discussed by applicable auditing standards, including Auditing Standard 1301,Communications with Audit Committees. The Audit Committee has received the written disclosures and the letter from PwC required by applicable requirements of the Public Company Accounting Oversight Board regarding the independent registered public accounting firm’s communications with the Audit Committee, and has discussed with PwC its independence.

Based on the reviews and discussions noted above, the Audit Committee recommended to the Board that the audited consolidated financial statements be included in the Company’s Annual Report onForm 10-K for the fiscal year ended December 31, 2019 and be filed with the SEC.

Audit Committee

David F. Walker (Chairman)

J. David Chatham

John C. Dorman

Paul F. Folino

Mary Lee Widener

Independent Auditor Information

Principal Accounting Fees and Services

The Audit Committee oversees the audit andnon-audit services provided by PwC and receives periodic reports on the fees paid. The aggregate fees billed for each of the last two fiscal years for professional services rendered by PwC in the four categories of service set forth in the table below are as follows:

Aggregate fees billed in year

  

2019

  

2018     

Audit Fees

   

$

3,091,436

   

$

3,084,333     

Audit-Related Fees (1)

   

 

77,276

   

 

1,430,496     

Tax Fees (2)

   

 

76,868

   

 

70,387     

All Other Fees (3)

   

 

22,613

   

 

15,901     

Total Fees

   

$

3,268,193

   

$

4,601,117     

(1)

Fees in 2019 primarily related to audit services and due diligence procedures for certain acquisitions. Fees in 2018 primarily related to due diligence procedures for certain acquisitions and review of procedures in connection with the implementation of updated accounting guidance.

(2)

Fees incurred for tax advice, compliance and planning over transfer pricing and acquisition of certain businesses.

(3)

Fees primarily incurred for services related to the compilation of statutory financial statements.

Policy on Audit CommitteePre-Approval of Audit andNon-Audit Services of Independent Auditor

The Audit Committee retained PwC (along with other accounting firms) to providenon-audit services in 2019. We understand the need for PwC to maintain objectivity and independence as the auditor of our financial statements and our internal control over financial reporting. Accordingly, the Audit Committee has established the following policies and processes related to audit andnon-audit services.

The Audit Committee’s policy is topre-approve all engagements of our independent registered public accounting firm for audit andnon-audit services. The Audit Committee’spre-approval policy identifies specific services and assignspre-approved spending thresholds for each group ofnon-audit services. This policy works in conjunction with our independent registered public accounting firm’s annual audit services fee schedule, which is also approved by the Audit Committee. Any services notpre-approved or not covered by the policy or the audit services fee schedule are submitted to the Audit Committee’s chairman, as the Audit Committee’s designee, for review and approval and are subsequently ratified by the Audit Committee at its next meeting, as appropriate.

All services provided by PwC during the fiscal years ended December 31, 2019 and 2018 werepre-approved by the Audit Committee or its chairman.

The Audit Committee has concluded that PwC’s provision of audit andnon-audit services to the Company is compatible with PwC’s independence.directors listed above is: c/o CoreLogic, Inc., 40 Pacifica, Irvine, California 92618.

SECURITY OWNERSHIPNAMED EXECUTIVE OFFICERS OF CERTAIN BENEFICIAL OWNERS ANDTHE COMPANY

MANAGEMENT AND RELATED STOCKHOLDER MATTERS

The following table sets forth information regarding the ownership of our common stock as of December 31, 2019 by the persons or groups of stockholders who are known to us to be the beneficial owners of more than 5% of our shares of common stock as of March 4, 2020 (using the number of shares outstanding on this date for calculating the percentage). The information regarding beneficial owners of more than 5% of our shares of common stock is based solely on public filings made by such owners with the SEC.

Name of Beneficial Owner

 

  

 

Amount and

Nature of

Beneficial

Ownership

 

   

Percent of

Class

 

 

 

T. Rowe Price Associates, Inc. (1)

 

  

 

 

 

 

14,166,179

 

 

 

 

  

 

 

 

 

17.9

 

 

 

 

The Vanguard Group (2)

 

  

 

 

 

 

7,628,197

 

 

 

 

  

 

 

 

 

9.7

 

 

 

 

BlackRock, Inc. (3)

 

  

 

 

 

 

7,068,840

 

 

 

 

  

 

 

 

 

8.9

 

 

 

 

Harris Associates L.P. and affiliates (4)

 

  

 

 

 

 

4,583,142

 

 

 

 

  

 

 

 

 

5.8

 

 

 

(1)

According to a Schedule 13G/A filed February 14, 2020, as of December 31, 2019, these securities are owned by various individual and institutional investors for which T. Rowe Price Associates, Inc. (“Price Associates”) serves as a registered investment adviser with power to direct investments and/or sole power to vote the securities and by T. Rowe PriceMid-Cap Growth Fund, Inc., an investment company. The Schedule 13G/A reports that Price Associates has sole voting power with respect to 5,061,292 shares and sole dispositive power with respect to 14,166,179 shares and T. Rowe PriceMid-Cap Growth Fund, Inc. has sole voting power with respect to 6,157,500 shares. The address of the principal business office of the reporting entities is 100 East Pratt Street, Baltimore, Maryland 21202.

(2)

According to a Schedule 13G/A filed February 12, 2020, as of December 31, 2019, these securities are owned by The Vanguard Group and two wholly-owned subsidiaries, Vanguard Fiduciary Trust Company (“VFTC”) and Vanguard Investments Australia, Ltd. (“VIA”), as investment managers of collective trust accounts and Australian investment offerings, respectively. The Schedule 13G/A reports that VFTC is the beneficial owner of 31,260 shares and VIA is the beneficial owner of 27,977 shares. The Vanguard Group is a registered investment adviser and has sole voting power with respect to 41,025 shares, shared voting power with respect to 18,212 shares, sole dispositive power with respect to 7,578,725 shares and shared dispositive power with respect to 49,472 shares. The address of the principal business office of the reporting entity is 100 Vanguard Boulevard, Malvern, PA 19355.

(3)

According to a Schedule 13G/A filed February 5, 2020, as of December 31, 2019, BlackRock, Inc. is a parent holding company with sole voting power with respect to 6,749,137 shares and sole dispositive power with respect to 7,068,840 shares, reporting on behalf of certain related subsidiaries. The address of the principal business office of the reporting entity is 55 East 52nd Street, New York, New York 10055.

(4)

According to a Schedule 13G/A filed February 14, 2020, as of December 31, 2019, Harris Associates L.P., and Harris Associates Inc. each have sole voting power with respect to 3,501,593 shares and sole dispositive power with respect to 4,583,142 shares. The Schedule 13G/A provides that by reason of advisory and other relationships giving it the power to vote the shares, Harris Associates L.P. may be deemed to be the beneficial owner of the shares reported therein. Harris Associates Inc. is the general partner of Harris Associates L.P. The address of the principal business office of the reporting entities is 111 S. Wacker Drive, Suite 4600, Chicago, Illinois 60606.

SECURITY OWNERSHIP OF MANAGEMENT

The following table sets forth the total number of shares of our common stock beneficially owned and the percentage of the shares so owned as of March 4, 2020 by:

each director;

each executive officer named in the “Summary Compensation Table”; and

all directors and current executive officers as a group.

Unless otherwise indicated in the notes following the table, the persons listed in the table below are the beneficial owners of the listed shares with sole voting and investment power (or, where applicable, shared power with such individual’s spouse and subject to community property laws) over the shares listed. Shares vesting or subject to rights exercisable within 60 days after March 4, 2020 are treated as outstanding in determining the amount and percentage beneficially owned by a person or entity.

Stockholders

 

  

 

Number of

shares of

common stock

 

   

Percent     

if greater than 1%     

 

 

 

Directors

 

          

 

J. David Chatham

 

  

 

 

 

 

38,181

 

 

 

 

  

 

 

 

 

 

 

 

 

 

Douglas C. Curling

 

  

 

 

 

 

35,871

 

 

 

 

  

 

 

 

 

 

 

 

 

 

John C. Dorman

 

  

 

 

 

 

17,148

 

 

 

 

  

 

 

 

 

 

 

 

 

 

Paul F. Folino

 

  

 

 

 

 

10,110

 

 

 

 

  

 

 

 

 

 

 

 

 

 

Frank D. Martell

 

  

 

 

 

 

638,006

 

 

 

 

  

 

 

 

 

 

 

 

 

 

Claudia Fan Munce

 

  

 

 

 

 

8,903

 

 

 

 

  

 

 

 

 

 

 

 

 

 

Thomas C. O’Brien

 

  

 

 

 

 

32,016

 

 

 

 

  

 

 

 

 

 

 

 

 

 

Vikrant Raina

 

  

 

 

 

 

11,403

 

 

 

 

  

 

 

 

 

 

 

 

 

 

J. Michael Shepherd

 

  

 

 

 

 

3,458

 

 

 

 

  

 

 

 

 

 

 

 

 

 

Jaynie Miller Studenmund

 

  

 

 

 

 

31,021

 

 

 

 

  

 

 

 

 

 

 

 

 

 

David F. Walker

 

  

 

 

 

 

43,238

 

 

 

 

  

 

 

 

 

 

 

 

 

 

Mary Lee Widener

 

  

 

 

 

 

8,576

 

 

 

 

  

 

 

 

 

 

 

 

 

 

Current NEOs who are not directors

 

          

 

James L. Balas

 

   

 

 

115,888

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

Barry M. Sando

 

   

 

 

242,922

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

Francis Aaron Henry

 

  

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

Arnold A. Pinkston

 

   

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

All directors and current executive officers as a group (16 persons)

 

   

 

 

1,236,741

 

 

 

 

 

   

 

 

1.6

 

 

 

 

The shares set forth in the table above include shares that the following directors and NEOs, as well as directors and current executive officers as a group, have the right to acquire within 60 days of March 4, 2020 pursuant to the vesting of RSUs or the exercise of stock options in the amounts set forth below:

Stockholders

Number of

shares of

common stock

Percent

if greater than 1%

J. David Chatham

3,939

Douglas C. Curling

3,939

John C. Dorman

3,939

Paul F. Folino

3,939

Frank D. Martell

461,854

Claudia Fan Munce

3,939

Thomas C. O’Brien

3,939

Vikrant Raina

3,939

J. Michael Shepherd

3,442

Jaynie Miller Studenmund

3,939

David F. Walker

3,939

Mary Lee Widener

3,939

James L. Balas

69,749

Barry M. Sando

139,470

Francis Aaron Henry

9,836

Arnold A. Pinkston

All directors and current executive officers as a group (16 persons)

723,741

Securities Authorized for Issuance under Equity Compensation Plans

We currently maintain two equity compensation plans: the CoreLogic, Inc. 2018 Performance Incentive Plan (the “2018 Plan”) and the 2012 Employee Stock Purchase Plan (“2012 ESPP”). We currently have outstanding awards under The CoreLogic, Inc. Amended and Restated 2011 Performance Incentive Plan, as amended (“2011 Plan”) and the 2006 Incentive Compensation Plan (the “2006 Plan”); however, we are no longer authorized to grant new awards under these plans. Each of the 2018 Plan, the 2011 Plan, the 2012 ESPP and the 2006 Plan was approved by our stockholders.

The following table sets forth, for each of our equity compensation plans, the number of shares of common stock subject to outstanding awards, the weighted-average exercise price of outstanding options, and the number of shares remaining available for future award grants as of December 31, 2019.

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 shares reflected

in column (a))

(c)

 

 

Equity compensation plans approved by stockholders

 

   

 

2,515,022 

 

(1) 

 

   

 

19.59 

 

(2) 

 

   

 

10,609,877 

 

(3) 

 

(1)

Of these shares, 414,950 were subject to options still outstanding under the 2011 Plan, 957,620 were subject to stock unit awards then outstanding under the 2011 Plan (which currently count as 1,915,240 under the 2011 Plan (2 shares for each share issued)), 1,077,995 were subject to stock unit awards then outstanding under the 2018 Plan (which count as 2,155,990 under the 2018 Plan) and 64,457 were subject to options still outstanding under the 2006 Plan. Of the 2,035,615 shares subject to stock unit awards under the plans described above, 1,003,801 shares are subject to performance-based awards assuming that the maximum level of performance with respect to such awards is achieved. Note that the actual number of shares to be issued with respect to these performance-based awards will vary depending on the applicable level of performance achieved, with such number ranging from zero to the maximum level indicated above.

(2)

This weighted-average exercise price does not reflect the shares that will be issued upon the payment of outstanding restricted stock units and is calculated solely with respect to outstanding unexercised stock options.

(3)

Represents 9,911,569 shares available for future issuance under the 2018 Plan, and 698,308 shares available for future issuance under the 2012 ESPP. Shares available under the 2018 Plan may be used for any type of award authorized in the 2018 Plan (subject to certain limitations of the 2018 Plan) including stock options, stock appreciation rights, stock units, restricted stock, performance-based awards, stock bonuses and other awards payable in share of our common stock.

CORPORATE GOVERNANCE AND BOARD MATTERS

Committees of the Board; Committee Charters

There are currently four standing committees of the Board: the Audit Committee, the Compensation Committee, the Nominating and Corporate Governance Committee and the Strategic Planning and Acquisition Committee. In addition to the four standing committees, the Board may approve, and has from time to time approved, the creation of special committees or subcommittees to act on behalf of the Board.

Each of the standing committees operates under a written charter adopted by the Board. The charters of the Audit Committee, Compensation Committee and Nominating and Corporate Governance Committee are available on the Investors section of our website under Leadership & Governance-Highlights atwww.corelogic.com. Each committee reviews and reassesses the adequacy of its charter annually, conducts annual evaluations of its performance with respect to its duties and responsibilities as laid out in the charter, and reports regularly to the Board with respect to the committee’s activities.

 

Audit CommitteeFrank D. Martell

  Age 60

Members

President and Chief Executive Officer
  

Committee Functions

David F. Walker*,Chairman

J. David Chatham

John C. Dorman*

Paul F. Folino

Mary Lee Widener

MeetingsBiography is set forth above in 2019: six

* Our Board has determined that eachthe section of Messrs. Walker and Dorman is an “audit committee financial expert” within the meaningthis Proxy Statement entitled “Directors of the SEC’s rules and regulations and that each member of our Audit Committee is “independent” under applicable SEC rules and the listing standards of the NYSE and is “financially literate” under the listing standards of the NYSE.

•  overseeing the integrity of our financial reporting processes in consultation with the independent auditor, management and our internal audit function;

•  reviewing internal auditing procedures and results;

•  appointing, compensating, retaining, evaluating and overseeing our independent registered public accounting firm;

•  engaging with our compliance and risk management executives to review the state of enterprise risk management and compliance programs with a view to understanding the steps management has taken to monitor and control our major risk exposures;

•  reviewing with internal counsel the state of litigation, claims and regulatory matters and overseeing our compliance with legal and regulatory matters;

•  discussing with management, internal audit and external advisors the state of internal controls and our practices with respect to financial disclosure;

•  directing and supervising investigations into matters within the scope of its duties; and

•  reviewing with the independent registered public accounting firm the plan and results of its audit and determining the nature of other services to be performed by, and fees to be paid to, such firm.

The Audit Committee has established procedures to receive, retain and address complaints regarding accounting, internal accounting controls or auditing matters, and for the submission by our employees or third parties of concerns regarding questionable accounting or auditing matters or other ethics and compliance-related matters. Our24-hour, toll-free hotline is available for the submission of such concerns or complaints at1-888-632-5395 or concerns or complaints may also be reported online athttps://corelogic.alertline.com. To the extent required by applicable law, individuals wishing to remain anonymous or to otherwise express their concerns or complaints confidentially are permitted to do so.

Company.”

James L. BalasAge 50

Compensation CommitteeChief Financial

Officer

  Mr. Balas has served as the Company’s Chief Financial Officer since April 2016. Mr. Balas joined CoreLogic in March 2011, as Senior Vice President, Controller and principal accounting officer. In 2012, his role expanded to include oversight of finance in addition to his other responsibilities. Prior to joining the Company, Mr. Balas held a variety of senior finance leadership positions at several publicly-traded companies after a successful 10-year career at Ernst & Young and Capgemini.
Barry M. SandoAge 61

MembersManaging Director,

Underwriting and

Workflow Solutions

  

Committee Functions

Mr. Sando has served as the Company’s Managing Director of Underwriting and Workflow Solutions (and predecessor business segments) since June 2010, when we became a stand-alone public company. Mr. Sando has more than 30 years’ experience in the housing finance and property information business and previously served in various executive positions with our predecessor company, First American Corporation.
Francis Aaron HenryAge 54

Chief Legal Officer

J. David Chatham,Chairmanand Corporate

Paul F. Folino

Claudia Fan Munce

Thomas C. O’Brien

Jaynie Studenmund

Meetings in 2019: seven

Secretary

  

•  establishing and reviewing our compensation philosophy;

•  overseeing the design and reviewing the operation of all executive compensation and employee benefit plans and programs;

•  reviewing and approving corporate goals and objectives relevant to the compensation of our chief executive officer, including annual performance objectives, and evaluating our chief executive officer in light of those objectives;

•  reviewing and approving the compensation of our executive officers;

•  reviewing and approving awards of equity underMr. Henry has served as the Company’s equity-based plans;

•  responsibility for reviewChief Legal Officer and approval of employment agreements with our chief executive officerCorporate Secretary since November 2019. Prior to joining the Company, he was General Counsel and other executive officers;Corporate Secretary at MoneyGram International from 2012 to September 2019, and

•  exercising oversight of the Company’s disclosures regarding executive compensation, including reviewing the Compensation Discussion previously served as SVP, Assistant General Counsel, Global Regulatory and Analysis containedPrivacy Officer from 2011. Prior to MoneyGram, Mr. Henry served in our proxy statementvarious legal roles at The Western Union Company and preparing the Compensation Committee Report for inclusion in our proxy statement.

The Compensation Committee also has key oversight responsibilities in the following areas, all of which are described in more detail elsewhere in this proxy statement:

•  assessing risk in relation to the Company’s compensation policies and practices;

•  reviewing and making recommendations to the Board concerning development and succession planning; and

•  reviewing and recommending to the Board the form and level ofnon-management director compensation.

The Compensation Committee may delegate specific responsibilities to a subcommittee of one or more members of the Compensation Committee. The Compensation Committee has not delegated any authority but certain responsibilities related to granting of equity awards has been delegated by the Board to the Equity Awards Committee as described below.

First Data Corporation.

Committee Advisors.Pay Governance LLC (“Pay Governance”) was initially retained as the Compensation Committee’s independent compensation consultant in 2015 and continues to be engaged by the Compensation Committee. The Compensation Committee also seeks input from our Chief Executive Officer, Chief Financial Officer, Chief Human Resources Officer and Chief Legal Officer when making decisions regarding compensation matters. During 2019, Pay Governance attended six of the seven Compensation Committee meetings.

Pay Governance providedCompany held its 2020 Annual Meeting on April 28, 2020. Stockholders should refer to the Compensation Committee, among other things, guidance as to our peer groupproxy statement filed in connection with the 2020 Annual Meeting for 2019 compensation for executive compensation comparison purposes; director compensation for 2019; and determining 2019 totalinformation regarding the compensation of each of our executivedirectors and officers and certain other information related to the material elements of total compensation, including (1) annual base salaries, (2) target cash bonus amounts and (3) the structure and target amount of long-term incentive awards.

Pay Governance did not perform any services for the Company and the Compensation Committee does not believe that the services performed by Pay Governance raised any conflict of interest. The Compensation Committee regularly reviews the services provided by its independent compensation consultant.2020 Annual Meeting.

Committee Independence.CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONSOur Board has determined that each member of our Compensation Committee is “independent” under applicable listing standards of the NYSE. In making its independence determination for each member of the Compensation Committee, our Board considered whether the director has a relationship with us that is material to the director’s ability to be independent from management in connection with the duties of a compensation committee member. In addition, our Board has determined that each of Messrs. Chatham, Folino, O’Brien and Mses. Studenmund and Munce is a“non-employee director” for purposes ofRule 16b-3 under the Exchange Act and satisfies the requirements of an “outside director” for purposes of Section 162(m) of the Code.

Equity Awards Committee.The Equity Awards Committee was created by the Board in 2016 and has been delegated limited authority to approve and establish the terms of equity awards granted to eligible participants under our equity incentive plans. Mr. Martell is the sole committee member.

Nominating and Corporate Governance Committee

Members

Committee Functions

Thomas C. O’Brien,Chairman

Douglas C. Curling

Paul F. Folino

Vikrant Raina

J. Michael Shepherd

Jaynie Studenmund

Meetings in 2019: four

•  identifying individuals qualified to become directors on our Board;

•  recommending to the Board candidates for election at annual meetings by the stockholders and candidates to fill vacancies and newly-created directorships;

•  overseeing the evaluation of the Board and its committees; and

•  developing, recommending to the Board and periodically reviewing the corporate governance principles and policies applicable to us.

Board Diversity.We do not have a formal policy for the consideration of diversity in identifying nominees for director. However, the Nominating and Corporate Governance Committee recognizes the benefits associated with a diverse Board and, as indicated above, considers diversity as a factor when identifying and evaluating candidates for membership on our Board. The Nominating and Corporate Governance Committee utilizes a broad conception of diversity, including professional and educational background, prior experience on other boards of directors (both public and private), political and social perspectives as well as race, gender and national origin. Utilizing these factors, and the factors described below under “Evaluation of Director Nominees”, the Nominating and Corporate Governance Committee makes recommendations, as it deems appropriate, regarding the composition and size of the Board. The priorities and emphasis of the Nominating and Corporate Governance Committee and of the Board may change from time to time to take into account changes in business and other trends and the portfolio of skills and experience of current and prospective Board members.

Stockholder Recommendations for Director Nominees.The Nominating and Corporate Governance Committee has adopted procedures by which certain of our stockholders may recommend director nominees to the Board. In particular, the Nominating and Corporate Governance Committee has established a policy whereby it will accept and consider, in its discretion, director recommendations from any stockholder holding in excess of 5% of our outstanding common stock. Such recommendations must include the name and credentials of the recommended nominee and should be submitted to our Secretary at our address included in this proxy statement. The Nominating and Corporate Governance Committee will evaluate director candidates recommended by stockholders for election to our Board in the same manner and using the same criteria as used for any other director candidate (as described below). If the Nominating and Corporate Governance Committee determines that a stockholder-recommended candidate is suitable for membership on our Board, it will include the candidate in the pool of candidates to be considered for nomination upon the occurrence of the next vacancy on our Board or in connection with the next annual meeting of stockholders.

Evaluation of Director Nominees.While the Nominating and Corporate Governance Committee has no specific minimum qualifications in evaluating a director candidate, it takes into account all factors it considers appropriate in identifying and evaluating candidates for membership on our Board, including some or all of the following: strength of character, an inquiring and independent mind, practical wisdom, mature judgment, career specialization, relevant industry experience, relevant technical skills, reputation in the community, diversity and the extent to which the candidate would fill a present need on the Board. The Nominating and Corporate Governance Committee makes recommendations to the full Board as to whether or not incumbent directors should stand forre-election. However, if we are legally required by contract or otherwise to provide third parties with the ability to nominate directors, the Nominating and Corporate Governance Committee may adjust its evaluation process for the designated candidates to reflect our contractual obligations with respect to their nomination. The Nominating and Corporate Governance Committee conducts all necessary and appropriate inquiries into the background and qualifications of possible candidates and may engage a search firm to assist in identifying potential candidates for nomination.

Strategic Planning and Acquisition Committee

Members

Committee Functions

John C. Dorman,Chairman

Douglas C. Curling

Paul F. Folino

Frank D. Martell

Claudia Fan Munce

Vikrant Raina

David F. Walker

Meetings in 2019: three

•  formulating, monitoring and revising a strategic plan for the Company, as well as product and business strategies;

•  considering market and industry trends that could impact the Company’s strategic plans;

•  ensuring the Board is presented with all necessary and desirable information and advice to assess, review, challenge and approve the Company’s strategic plan;

•  reviewing acquisition strategies and acquisition candidates with the Company’s management;

•  recommending acquisition strategies and candidates to the Board, as appropriate; and

•  overseeing and approving certain investment, merger, acquisition and divestiture transactions proposed by the Company’s management within the size and other limitations delegated by the Board from time to time.

Independence of Directors

Pursuant to the listing rules of the NYSE, a majority of the Board must be independent. A director will not qualify as independent unless the Board affirmatively determines that the director has no material relationship with us (either directly or as a partner, stockholder or officer of an organization that has a relationship with us). To assist in its determination of director independence, the Board has adopted categorical director independence standards, which are contained in our Corporate Governance Guidelines. The Corporate Governance Guidelines are available to stockholders on the Investors section of our website under Leadership & Governance-Highlights atwww.corelogic.com.

In accordance with applicable NYSE listing rules and our categorical director independence standards, the Board has affirmatively determined that each of Messrs. Chatham, Curling, Dorman, Folino, O’Brien, Raina, Shepherd and Walker, and Mses. Munce, Studenmund and Widener is “independent”. Mr. Martell is not considered independent because he serves as our President and Chief Executive Officer.

Board Leadership Structure

The offices of Chief Executive Officer and Chairman are separate. Mr. Folino has served as Chairman of our Board since July 2014. Our Board believes that the separation of the offices of Chairman and Chief Executive Officer continues to be appropriate as it allows our Chief Executive Officer to focus primarily on his management responsibilities and the Chairman to oversee and manage the Board and its functions. Having an independent Chairman promotes the independence of our Board and provides appropriate oversight of

management and ensures free and open discussion and communication among thenon-management members of our Board. The Chairman also chairs and coordinates the agenda for executive sessions of thenon-management directors.

Our Corporate Governance Guidelines provide that the Board shall annually elect a lead director by a majority vote of the independent directors unless the Chairperson of the Board is an independent director, in which case the Chairperson of the Board will perform the functions of a lead director and no lead director shall be elected. Mr. Folino, an independent director, is the Chairman and, as a result, we do not currently have a lead director.

Director Education

Directors are strongly encouraged to attend educational seminars regarding the Company’s business, corporate governance and other issues pertaining to their directorship. We also provide the Board with educational training fromtime-to-time on subjects applicable to the Board and the Company, including with regard to industry and regulatory developments, accounting, financial reporting, and corporate governance, using both internal and external resources.

Succession Planning

Among the Compensation Committee’s responsibilities described in its charter is to oversee development and succession planning for executive officers, and the Compensation Committee also oversees this for other key members of senior management. The Board plans for succession of the CEO and periodically reviews senior management selection and succession planning that is undertaken by the Compensation Committee. As part of this process, thenon-management directors annually review the Compensation Committee’s recommended candidates for senior management positions to see that qualified candidates are available for all positions and that development plans are being utilized to strengthen the skills and qualifications of the candidates. The criteria used when assessing the qualifications of potential CEO successors include, among others, strategic vision and leadership, operational excellence, financial management, executive officer leadership development, ability to motivate employees, and an ability to develop an effective working relationship with the Board.

Risk Oversight

Full Board

To maximize long-term stockholder value, the Board’s responsibilities in overseeing our businesses include oversight of our key risks and management’s processes and controls to regulate them appropriately. Our management, in turn, is responsible for theday-to-day management of risk and implementation of appropriate risk management controls and procedures. Although risk oversight permeates many elements of the work of the full Board, the Board has delegated to certain committees specific risk oversight matters.

Audit Committee

The Audit Committee has the most direct and systematic responsibility for overseeing risk management. The Audit Committee charter provides for a variety of regular and recurring responsibilities relating to risk, including:

•  having responsibility for the internal audit function, with that function having a direct line of communication to the Audit Committee;

•  receiving reports from management and the internal audit function regarding the adequacy and effectiveness of various internal controls;

•  reviewing periodically with internal counsel legal and regulatory matters that could have a significant impact on us and could indicate emerging areas of risk;

•  overseeing accounting and risk management processes, including receiving regular reports from our Chief Legal Officer; and

•  discussing with management our guidelines and policies with respect to risk assessment and enterprise risk management, including our major risk exposures and the steps management has taken to monitor and control such exposures.

In performing these functions, the Audit Committee regularly receives reports from management (including the Chief Executive Officer, the Chief Financial Officer, the Controller and the Chief Legal Officer) and internal auditors regarding our risk management program (which incorporates our compliance, information & cyber security, and business continuity programs), extraordinary claims and losses, and significant litigation. The Board receives updates on risk oversight from the Audit Committee and members of management.

Compensation Committee

The Compensation Committee oversees our compensation policies and practices and has assessed whether our compensation policies encourage excessive risk-taking. The Compensation Committee has concluded that these policies and practices are not reasonably likely to have a material adverse effect on us. In arriving at that conclusion, the Compensation Committee considered, among other factors:

•  the metrics used to determine variable compensation;

•  the portion of variable compensation paid in equity, which is either time-vested or tied to the achievement of long-term Company objectives;

•  the amount of compensation paid as sales commissions and the number of people to whom such compensation is paid; and

•  controls, such as pricing limits, a recoupment policy and financial reconciliation processes for sales crediting, quality checks that we employ and the approval process for certain compensation-related activities.

Board Meetings and Attendance

Our Board held six meetings during 2019 and ournon-management directors also met six times in executive session without management present. Each director attended 75% or more of the total number of meetings of the Board and meetings of the committees (if any) on which the director served during his or her respective tenure on the Board during 2019. From time to time, our Board and committees also act by unanimous written consent as permitted by our Bylaws and the Delaware General Corporation Law.

Director Attendance at Annual Meetings

We encourage our directors to attend the annual meetings of our stockholders, either in person or telephonically. All directors attended the 2019 annual meeting (with the exception of Mr. Shepherd, who was appointed to the Board in June 2019).

Retention of Outside Advisors

The Board and all of its committees have authority to retain outside advisors and consultants that they consider necessary or appropriate in carrying out their respective responsibilities. The independent accountants are retained by, and report directly to, the Audit Committee. In addition, the Audit Committee is responsible for the selection, assessment, and termination of the internal auditors to which we have outsourced our internal audit function. Similarly, the consultant retained by the Compensation Committee to assist in the evaluation of senior executive compensation reports directly to that committee.

Code of Conduct

The Board has adopted a Code of Conduct (the “Code”) that applies to all employees, including our directors, Chief Executive Officer, Chief Financial Officer, Controller, and persons performing similar functions, which has been posted under “Investors-Leadership & Governance-Highlights” on our websitewww.corelogic.com. If we waive or amend any provisions of the Code that apply to our directors and executive officers, including our Chief Executive Officer, Chief Financial Officer, Controller and persons performing similar functions, we will disclose such waivers or amendments on our website, at the address and location specified above, to the extent required by applicable SEC and NYSE rules.

Corporate Governance Guidelines

The Board has adopted Corporate Governance Guidelines which have been posted under “Investors-Leadership & Governance-Highlights” on our websitewww.corelogic.com. In addition to stating the standards that the Board applies in determining whether or not its members are independent, these guidelines address, among other items, the qualifications and responsibilities of our directors and describe fundamental aspects of our Board and certain of its committees.

Director Overboarding Policy

Our Corporate Governance Guidelines provide that our directors may not serve on more than five public company boards (including our Board), and our Audit Committee members may not serve on more than three public company audit committees (including our Audit Committee), in each case, without prior Board approval. In each case, in determining whether to grant such approval, the Board will consider the director’s ability to devote sufficient time to the activities of the Board and/or Audit Committee and the director’s qualifications and contribution, or potential contribution, to the Board and/or Audit Committee. As of the date of this proxy statement, all of our directors are in compliance with the overboarding policy.

Board and Committee Evaluations

To increase their effectiveness, the Board and each of its committees perform an annual self-evaluation under the direction of the Nominating and Corporate Governance Committee. The evaluation addresses, among other items, attendance, preparedness, participation, candor and other measures of performance selected by the Board.

Communicating with Directors

Stockholders and other interested parties may communicate directly with members of the Board, including the Chairman of the Board or any of the othernon-management directors of our Company (individually or as a group), by writing to such director(s) at:

CoreLogic, Inc.

c/o Chief Legal Officer and Secretary

40 Pacifica, Suite 900

Irvine, CA 92618

Our Corporate Secretary reviews and promptly forwards communications to the directors, as appropriate. Communications involving substantive accounting or auditing matters are forwarded to the Chair of the Audit Committee. Certain items that are unrelated to the duties and responsibilities of the Board will not be forwarded such as: business solicitation or advertisements; product- or service-related inquires; junk mail or mass mailings; resumes or otherjob-related inquires; and spam and inappropriately hostile, threatening, potentially illegal or similarly unsuitable communications. Directors receiving communications will respond as such directors deem appropriate, including the possibility of referring the matter to management of our Company, to the full Board or to an appropriate committee of the Board.

Transactions with Management and Others

The Board has adopted a written policy regarding transactions with related persons that requires the approval or ratification by the Board or the Nominating and Corporate Governance Committee of any transaction exceeding $120,000 in which we are a participant and any related person has a direct or indirect material interest. A related person includes a director, nominee for election as a director, executive officer, person controlling over 5% of our common stockCommon Stock and the immediate family members of each of these individuals. Once a transaction has been determined to require approval, the transaction will be reviewed and approved by either the Board or the Nominating and Corporate Governance Committee. The Board or the Nominating and Corporate Governance Committee will review and consider the terms, business purpose and benefits of the transaction to the Company and the related person.

If a related party transaction is notpre-approved, then it must be brought to the Board or the Nominating and Corporate Governance Committee for ratification as promptly as possible. No member of the Board or the Nominating and Corporate Governance Committee may participate in the review or approval of a related party transaction in which he or she has a direct or indirect interest, unless the Chairman of the Board or the chairperson of the Nominating and Corporate Governance Committee requests such individual to participate.

The following types of transactions do not requirepre-approval:

 

compensatory arrangements for service as an officer or director of ours, provided such compensation is approved by the Compensation Committee;

 

transactions between us and our affiliates (other than directors and officers);

 

transactions involving a related person with only an indirect interest resulting solely from ownership of less than 10% of, or being a director of, the entity entering into a transaction with us;

 

ordinary course transactions involving annual payments of $100,000 or less; or

 

transactions involving indebtedness between us and a beneficial owner of more than 5% of our common stockCommon Stock or an immediate family member of such beneficial owner, provided that the beneficial owner or family member is not an executive officer, director or director nominee of ours or an immediate family member thereof.

In fiscal year 2019, there were no related party transactions required to be disclosed pursuant to Item 404 of RegulationS-K.

Anti-Hedging and Pledging Policy

We maintain a policy that restricts our directors, executive officers and other employees from engaging in hedging or monetization transactions, including prepaid variable forwards, equity swaps, collars and exchange funds, that may permit continued ownership of Company securities obtained through employee benefit plans or otherwise, but without the full risks and rewards of ownership. Pursuant to our policy, we also prohibit our directors, executive officers and other employees from engaging in transactions in put options, call options or other derivative securities, on an exchange or in any other organized market, as well as holding Company securities in a margin account or otherwise pledging Company securities as collateral for a loan (except in limited circumstances if the person pledging the securities is able to demonstrate that he or she has the financial capacity to repay the loan without resort to the pledged securities). No such exception is currently in place.

DIRECTOR COMPENSATION

The following table sets forth certain information concerning the compensation of our directors other than Mr. Martell for the fiscal year ended December 31, 2019.

Name

 

  

Fees Earned or

Paid in Cash

($)

 

   

Stock

Awards (1)(2)

($)

 

   

Total

($)

 

 

J. David Chatham

  $133,803   $159,963   $293,766 

Douglas C. Curling

  $92,500   $159,963   $252,463 

John C. Dorman

  $112,500   $159,963   $272,463 

Paul F. Folino

  $217,500   $159,963   $377,463 

Claudia Fan Munce

  $103,406   $159,963   $263,369 

Thomas C. O’Brien

  $121,303   $159,963   $281,266 

Vikrant Raina

  $92,500   $159,963   $252,463 

J. Michael Shepherd

  $54,227   $149,629   $203,856 

Jaynie Miller Studenmund

  $97,500   $159,963   $257,463 

David F. Walker

  $125,000   $159,963   $284,963 

Mary Lee Widener

  $95,000   $159,963   $254,963 

(1)

The amounts shown reflect the aggregate grant date fair value of stock awards granted in 2019 computed in accordance with the Financial Accounting Standards Board’s Accounting Standards Codification Topic 718, Compensation-Stock Compensation. We value the RSUs as of the grant date by multiplying the closing price of our common stock on that date by the number of RSUs awarded. The stock awards were granted on April 30, 2019 to eachnon-management director, other than for Mr. Shepherd, who received his grant on June 21, 2019.

(2)

The aggregate numbers of RSUs held by each currentnon-management director as of December 31, 2019 were as follows:

Name

Restricted Stock Unit

Awards (#)

J. David Chatham

3,939

Douglas C. Curling

3,939

John C. Dorman

3,939

Paul F. Folino

3,939

Claudia Fan Munce

3,939

Thomas C. O’Brien

3,939

Vikrant Raina

3,939

J. Michael Shepherd

3,442

Jaynie Miller Studenmund

3,939

David F. Walker

3,939

Mary Lee Widener

3,939

As described in the Compensation Discussion and Analysis, Pay Governance served as independent compensation consultant for the Compensation Committee for 2019 and will continue to advise on the compensation of our directors for 2020. During 2019, as part of its engagement with the Committee, Pay Governance:

provided advice on the selection of a peer group of companies for director compensation comparison purposes;

provided guidance on industry best practices and emerging trends and developments in director compensation;

reviewed director compensation; and

provided advice on determining the structure and amounts payable under our director compensation program.

The Compensation Committee reviews and recommends to the Board the form and level of director compensation. In December 2019, the Compensation Committee reviewed the Directors’ Compensation Policy and recommended one change for 2020 with respect to the annual cash retainer for ournon-management Chairman of the Board (increase to $120,000 from $100,000); the Board affirmed the recommendation of the Compensation Committee.

The table below describes the components of thenon-management director compensation program in effect during 2019:

   Compensation Element

  2019 

   Annual Retainer —Non-Management Director (1)

  

$

80,000

 

  

Annual Equity Compensation — RSUs (2)

  

$

160,000

 

  

Annual Retainer —Non-Management Board Chairman

  

$

100,000

 

  

Annual Retainer — Committee Chairs (1)

  

Audit Committee

  

$

25,000

 

Compensation Committee

  

$

20,000

 

Nominating and Corporate Governance Committee

  

$

15,000

 

Strategic Planning and Acquisition Committee

  

$

12,500

 

  

Annual Retainer — Committee Members (1)

  

Audit Committee

  

$

15,000

 

Compensation Committee

  

$

10,000

 

Nominating and Corporate Governance Committee

  

$

7,500

 

Strategic Planning and Acquisition Committee

  

$

5,000

 

  

Fee for attendance of Board and Committee Meetings in Excess of

Designated Number (3)

  

$

2,000

 

(1)

Committee chair retainer represents amounts paid to each committee chair for their service in addition to the committee member annual retainer. Fees are paid in cash in equal quarterly installments. Fees are paidpro-rata for directors joining the Board after the payment date.

(2)

The award is granted and priced on the day of our annual meeting or, in the event of anout-of-cycle annual meeting, such earlier date as may be approved by the Board, and vest on the first anniversary of the grant date (or the day prior to the date of the annual meeting in the year following the year of grant, if earlier). Vesting of the award will accelerate upon death, disability, retirement from the Board or a change in control. Directors joining the Board after the date of the Annual Meeting will receive a pro rata annual RSU award on the date the director joins the Board, which will vest on the same terms as the other annual RSU awards.

(3)

Meeting fees paid only for meetings in excess of eight meetings of the Board, Audit Committee and Compensation Committee, and in excess of four meetings of the Nominating and Corporate Governance Committee and Strategic Planning and Acquisition Committee. Fees are paid in cash in connection with each such additional meeting. Directors may also elect to defer payment of their RSUs under the Outside Director Deferral Program. RSUs deferred under such program will generally be paid, subject to the applicable vesting requirements, in shares of the Company’s common stock on the earlier of (1) the director’s death or separation from service or (2) a change in control of the Company.

Director Share Ownership Guidelines

We require ournon-management directors to own a fixed amount of Company stock. The guidelines are based on a multiple of the annual retainer and require a value of at least $400,000 be held by each director. Directors have five years from their date of election to the Board to reach the ownership requirement. All Company securities owned outright or earned and subject only to time-based vesting restrictions, including deferred awards, are credited toward the requirement. All directors have met these requirements within five years of joining.

EXECUTIVE OFFICERS

Set forth below is information regarding our current executive officers. Our executive officers are appointed annually by the Board.

Frank D. Martell

Age 60

President and Chief

Executive Officer

Biography is set forth under the heading Proposal 1—Election of Directors above.

James L. Balas

Age 49

Chief Financial

Officer

Mr. Balas has served as the Company’s Chief Financial Officer since April 2016. Mr. Balas joined CoreLogic in March 2011, as Senior Vice President, Controller and principal accounting officer. In 2012, his role expanded to include oversight of finance in addition to his other responsibilities. Prior to joining the Company, Mr. Balas held a variety of senior finance leadership positions at several publicly-traded companies after a successful10-year career at Ernst & Young and Capgemini.

Barry M. Sando

Age 60

Managing Director,

Underwriting and

Workflow Solutions

Mr. Sando has served as the Company’s Managing Director of Underwriting and Workflow Solutions (and predecessor business segments) since June 2010, when we became a stand-alone public company. Mr. Sando has more than 30 years’ experience in the housing finance and property information business and previously served in various executive positions with our predecessor company, FAC.

Francis Aaron Henry

Age 54

Chief Legal Officer

and Corporate

Secretary

Mr. Henry has served as the Company’s Chief Legal Officer and Corporate Secretary since November 2019. Prior to joining the Company, he was General Counsel and Corporate Secretary at MoneyGram International from 2012 to September 2019, and previously served as SVP, Assistant General Counsel, Global Regulatory and Privacy Officer from 2011. Prior to MoneyGram, Mr. Henry served in various legal roles at The Western Union Company and First Data Corporation.

COMPENSATION DISCUSSION & ANALYSIS

This Compensation Discussion and Analysis (“CD&A”) describes our compensation program, including our compensation strategy, philosophy, polices, programs and practices for our NEOs and the positions they held in 2019. For purposes of this CD&A, the Committee refers to the Compensation Committee of our Board of Directors.

Named Executive Officer

Position as of December 31, 2019

Frank D. Martell

President and Chief Executive Officer

James L. Balas

Chief Financial Officer

Barry M. Sando

Managing Director, Underwriting and Workflow Solutions

Francis Aaron Henry

Chief Legal Officer and Corporate Secretary(1)

Arnold Pinkston

Former Chief Legal Officer and Corporate Secretary(2)
(1)

Mr. Henry joined CoreLogic on November 6, 2019.

(2)

Mr. Pinkston left CoreLogic on June 14, 2019.

2019 BUSINESS HIGHLIGHTS

Our compensation program is designed to align the interests of our executive officers with those of our stockholders through use of a balance of financial results and strategic objectives in three areas of focus that are intended to drive our long-term performance: growth and innovation, operational excellence, and high performing organization. In 2019, a majority of our NEOs’ compensation continued to be based upon our financial performance and execution against these strategic objectives.

In setting our 2019 performance goals, we considered various factors including strategic initiatives associated with the implementation of our long-term plans, programs required to ensure robust cyber and information security and technology platforms and hiring and retaining the best available human capital, and the Company’s environmental, social and governance (ESG) initiatives. We also considered factors such as anticipated volatility and unpredictability in our domestic and international markets.

We delivered strong operating and financial results in 2019. Significant strategic and operational highlights included:

Enhancing business mix by increasing contributions from higher margin platform and recurring revenue streams and exit/wind down of non-core mortgage technology and default services units.

Increasing non-US mortgage volume sensitive solutions to almost 40% of total revenues, reflecting strong progress toward long-term goals.

Acquiring and/or integrating important business streams to augment and grow our insurance and spatial solutions, tax services and real estate marketing services operations.

Completing the transformation of our AMC operation to enhance future growth and profitability.

Investing in new technology and data-related capabilities with a focus on data structures, visualization, technology platforms and advanced automation techniques.

Progressing the migration of our technology stack to the Google Cloud.

Exceeding our cost reduction targets through a reduction in organizational complexity, refining and automating work processes, and shrinking our real estate footprint, all of which contributed to expanded operating margins.

Long-term Financial Highlights Through 2019

Operating Performance – 2011 (first full year as a public company) – 2019 Growth

LOGO

Adjusted EBITDA to Free Cash Flow (FCF) Conversion Percentage

LOGO

Shareholder Capital Returns ($millions)

LOGO

Stock Price Performance – 2011 - 2019

LOGO

Periodic    Prior Cumulative

Cumulative # of Shares Purchased

2019 FINANCIAL HIGHLIGHTS

Revenues of $1.762 billion, an increase of 3% before the impact of foreign currency translation, our AMC transformation and the exit/wind down ofnon-core mortgage technology and default services units.

Adjusted EBITDA increased to $498 million, an increase of $5 million above 2018 levels.

Adjusted EPS of $2.83 grew by 4% compared to the prior year.

Adjusted EBITDA margins up 70 basis points to 28%. Adjusted EBITDA exceeded 30% for the second half of 2019, including margin expansion of approximately 500 basis points in the fourth quarter.

Cost management and productivity benefits of more than $20 million.

Including heightened reinvestment in growth generating initiatives and productivity programs, FCF of $257 million was generated for the twelve months ended December 31, 2019.

Repurchased approximately 3% of our common shares and reduced debt levels by $110 million.

Initiated and declared our first quarterly dividend in December 2019 and paid in January 2020.

Company share price increased more than 30%.

We attribute these results to management’s ability to successfully implement our long-term strategic initiatives and tactical business plans and navigate a large and complex market undergoing heightened levels of volatility while maintaining focus in a challenging business environment, with strong leadership from Mr. Martell.

Please seeAppendix A for a detailed reconciliation of adjusted EBITDA and FCF to the most directly comparable GAAP financial measures.

EXECUTIVE COMPENSATION HIGHLIGHTS

We aligned annual incentives to strong financial results. Our underlyingpay-for-performance approach is intended to reward management appropriately for results relative to targeted performance through use of a

weighted combination of three performance metrics: revenue, adjusted EBITDA, and FCF. Annual incentive performance goals were set at the beginning of 2019 based on best available market forecasts at the time, which called for a modest decline relative to actual 2018 for US mortgage market unit volumes. In addition, our financial targets were set based on our assessment of the impact of key strategic initiatives as well as known or anticipated macro-economic environment and operating conditions in the global markets we serve. We delivered a strong performance in 2019 – both operationally and financially – exceeding our revenue target by 10%, our adjusted EBITDA target by 11%, and our FCF target by 4%. Combined results for revenue, adjusted EBITDA, and FCF generated annual incentive funding at 141% of target. The overachievement against our targets was driven principally by a combination of effective and aggressive management, improved market conditions for US mortgage as well as changes in the timing related to our AMC transformation program and the wind down of certainnon-core platforms. After considering the impact of changes in the timing and other assumptions related to our AMC transformation program as well as the wind down ofnon-core platforms on actual financial results against targeted performance levels, the Committee exercised its discretion to reduce final funding of the financial results to 128.7% of target.

We assessed and rewarded our most significant strategic accomplishments. For our NEOs, 25% of annual incentive awards is tied to performance on predetermined strategic objectives as well as specific goals tied to employee satisfaction and information security.Based on overall strong strategic accomplishments in a challenging revenue environment as well as achievement of employee satisfaction and information security related targets, and individual contributions to those accomplishments, the Committee awarded our three eligible NEOs that were with us at the end of 2019 from 129% to 170% of target for strategic objectives.

      Strategic Focus      

2019 Accomplishments

Growth and Innovation

 Achieved positive underlying growth (normalizing for AMC transformation program and wind down ofnon-core platforms mentioned previously) and enhanced business mix of higher margin platform-related businesses including insurance and spatial solutions, real estate, and commercial tax servicing

 Increased contributions fromnon-US mortgage sensitive businesses to approximately 40% of total revenues

 Out-performed US mortgage market volume trends in property tax payment processing, flood zone determination and collateral valuation platforms units

 Expanded market share through product introduction and enhancements as well as deployment of integrated solutions packages and pricing gains

 Completed transformation of our AMC operation to a premium service offering which is expected to improve quality and productivity and generate accelerated growth and higher margins in 2020 and beyond

 Invested in strategic cutting-edge data and technology-related enhancements, artificial intelligence, and visualization to enhance future growth and offering capabilities

Operational Excellence

 Active-active Google Cloud Platform (“GCP”) operating model deployed, and migrated significant systems and applications to the GCP to further enhance technology infrastructure capabilities and efficiencies

 Exceeded productivity savings target of $20 million through automation, outsourcing and partnerships, real estate consolidation and other workflow enhancements

 Expanded adjusted EBITDA margins by 70 basis points for the full-year to 28%; adjusted EBITDA margins exceeded 30% during the second half of 2019, significantly ahead of targeted levels and the same 2018 period

 Generated strong operating cash flow, which facilitated heightened investment levels, debt reduction of approximately $110 million, the repurchase of 3% of shares outstanding, and the initiation of a quarterly dividend

 Amended our credit facility at more favorable terms, extended maturity and increased financial flexibility

      Strategic Focus      

2019 Accomplishments

High Performing Organization

 Launched higher impact Leadership Principles Framework and expanded leadership development programs; expanded succession planning

 Achieved a 10% increase in employee engagement scores

 Expanded ESG programs with a focus on education and financial literacy and community development

 Enhanced compliance and information security organizations and capabilities and exceeded key cyber security-related performance targets

 Hired key talent in sales and marketing, and upgraded tools and capabilities while continuing the transformation of shared services functions by investing in automation and standardization to drive productivity, quality, and efficiency

 Grew share price more than 30% during the 2019 calendar year

Strong Stockholder Support on Say on Pay

Our Board and management are committed to maintaining sound and effective compensation and governance policies and programs designed to build value for our stockholders. At our 2019 Annual Meeting, nearly 96% of the votes cast were in favor of the advisory vote to approve our executive compensation paid in 2018. With this support in favor of our existing compensation program, absence of negative feedback from our stockholder outreach effort, and following its regular review of our practices, the Committee determined to continue our 2018 compensation program in 2019 with only minor adjustments.

Active Engagement with Our Stockholders

The Board and executive management are committed to engaging with our stockholders. Throughout the year, executive management proactively and periodically meets with current and prospective stockholders to discuss our strategic priorities, operational performance, and financial results. Also, through these discussions or separate outreach efforts, we seek to engage our top stockholders to solicit feedback on corporate governance, our compensation program, and related matters. In 2019, we conducted such outreach to our top stockholders representing a majority of our outstanding shares; these stockholders did not express concerns over our corporate governance practices or compensation program design.

GOOD PAY GOVERNANCE PRACTICES

The Committee oversees the design and administration of our compensation program and evaluates it against competitive practices, legal and regulatory developments and corporate governance trends. The Committee has incorporated the following governance features into our compensation program:

What We Do

Review total compensation relative to the median of a peer group of industry-aligned companies with similar executive talent needs

Tie annual incentives to achievement of multiple rigorous financial and operating goals

Use performance-based vesting for 50% of long-term compensation, tied to achievement of stretch EPS targets and TSR relative to our peers

Cap performance-based vesting of performance shares at 150% of target if3-year TSR ranks below 55th percentile of our peers

Require achievement of threshold adjusted net income level to be eligible to vest in RSU awards

Maintain robust stock ownership guidelines and require covered executives to retain 50% of netafter-tax shares earned until the guidelines are met

Maintain a claw-back policy for incentive payments

Use an independent compensation consultant retained directly by the Committee, in its sole discretion, who performs no consulting or other services for management

Require double-trigger for accelerated vesting upon termination of employment following a change in control

Assess annually potential risks relating to the Company’s compensation policies and practices

What We Don’t Do

×

Incentivize participants to take excessive risks

×

Award bonuses to our executive officers outside of our ICP

×

Allow margining, derivative, or speculative transactions, such as hedges, pledges, and margin accounts, by all employees, including executive officers, and directors

×

Provide excessive perquisites

×

Provide excise taxgross-ups upon termination with a change in control or taxgross-ups for other compensation

×

Allow for repricing of stock options without stockholder approval

×

Pay “single-trigger”change-of-control cash payments or have “single-trigger” equity vesting

PAY PHILOSOPHY

We pay for performance.Our compensation program is heavily weighted toward performance-based annual and long-term compensation that provides a direct link between rigorous goals for corporate performance and pay outcomes for our executive officers. Our annual ICP also ties pay outcomes to the achievement of key strategic objectives that we believe will drive longer-term value to stockholders. We believe that our compensation program provides effective incentives for strong operating results by appropriately aligning pay and performance.

 Compensation Philosophy

•   Attract, motivate and retain highly-qualified executive officers critical to our long-term success

•   Align the interests of our executive officers with the interests of our stockholders

•   Reward executive officers for achievingpre-defined rigorous financial goals and strategic objectives that may not yield current-period financial results but are expected to position us for enhanced results in future periods

•   Encourage strategic long-term development and profitable investment in
the business

•   Motivate and reward appropriate risk-taking to grow the business

•   Support pay practices with strong corporate governance and independent board oversight

 Compensation Program Primary Elements

•   Base salary

•   Annual cash incentive compensation plan awards

•   Long-term equity incentives

•   Other compensation (welfare, retirement, termination and other benefits)

Our compensation program emphasizes performance-based incentives.86% of our CEO’s compensation and 75% of the compensation for the other NEOs (including Mr. Henry and excluding Mr. Pinkston) is performance-based. The chart below illustrates our pay mix. (For these purposes we have determined compensation by using the grant date fair value of our equity awards and by valuing our performance-based restricted stock units (“PBRSUs”) at target level of performance.)

LOGO

We focus on long-term stockholder value. As illustrated above, nearly 70% of the total compensation opportunity for our CEO is based on achievement of stockholder-aligned performance and the value of our shares. For other NEOs, half of their total target compensation opportunities are tied to these stockholder results.

We increase base salaries primarily for performance or promotion.Our practice is to benchmark compensation annually but to increase an NEO’s base salary only when warranted by sustained performance, an increase in the scope of responsibilities or significant gaps to competitive pay levels. Of our currently employed NEOs, only Messrs. Martell and Balas received base salary increases in 2019 to recognize performance and move their respective salaries to more competitive levels.

We set rigorous goals in our incentive plans. We set challenging goals for both our annual incentive and long-term equity plan, with recognition of the broader macro-economic environment factored into performance goals. We outperformed US mortgage market trends and delivered single-digit top line growth in our core operations, resulting in year-over-year growth in adjusted EBITDA and FCF despite very challenging market conditions as we entered the year. For 2019, we also considered the impact of the timing of significant planned investments on our results.

We use strategic goals in our ICP.Results on strategic goals represent 25% of the annual ICP opportunity for our executive officers. We believe this approach rewards the accomplishment of key objectives that will drive future performance. The Committee separately determines the portion of the funded amount that should be paid as a result of achievement of the assigned objectives. The Committee carefully evaluates management’s accomplishments relative to the goals, as further described below.

Our equity grants are tied to performance.In 2019, 50% of the target value of our long-term incentive awards for our CEO and other NEOs was granted in the form of PBRSUs that vest based on achievement of adjusted EPS results relative to target and TSR relative to the companies in our Peer Group (as described and defined later in this section). We set rigorous goals in our PBRSU awards, where strong operating and shareholder performance, such as a 31% shareholder return in 2019, has allowed us to achieve above-target payouts in the last three award cycles. The remaining 50% of the target value of our long-term incentive awards was granted in the form of RSUs that require us to achieve a threshold adjusted net income level in order to be eligible to vest.

3-Year PBRSU Payouts

LOGO

2019 COMPENSATION PROGRAM OVERVIEW

The following table describes each aspect of our pay program for executive officers.

ELEMENT

DESCRIPTIONROLE AND PURPOSE

REWARDS STRATEGY

Review target total pay relative to market median and determine individual pay based on experience and performance

Tie approximately 75% or more of NEO target pay opportunity to operating results and share price performance

Providemarket-competitive mix of base salary, cash incentives and equity incentives

Align compensation to results for our stockholders

BASE SALARY




Competitive fixed compensation

Base salary increased primarily for sustained performance or promotions


Provide competitive level of fixed pay to attract, motivate and retainhighly-qualified executives

Control fixed costs and emphasize pay for performance through limited salary increases

ANNUAL INCENTIVE

COMPENSATION

PROGRAM (ICP)

Base incentives on performance against rigorous targets for revenue, adjusted EBITDA, FCF and strategic goalsMotivate and reward achievement of key financial goals and strategic accomplishments that drive long-term stockholder value

LONG-TERM

EQUITY

INCENTIVES

Performance- Based Restricted

Stock Units

(PBRSUs)

50% of 2019 total LTI grant value for executive officers

Shares earned based on 3 years of adjusted EPS performance, modified by TSR relative to our peers

Focus and reward for achievement of operating results over the long term

Use of operating results and relative TSR ensures alignment of payouts with our performance relative to the broader market

EPS growth has been highly aligned with our share price

Restricted Stock Units (RSUs)

50% of 2019 total LTI grant value for executive officers

Grants vest ratably over three years

Requires achievement of threshold adjusted net income goal to be eligible for vesting

Enhance retention of key talent

Value at vesting based on share price, which aligns executives with stockholders’ interests

RETIREMENT PROGRAMS

401(k) program for all employees

Legacy supplemental executive retirement plan frozen in 2010 with no new entrants allowed

Limited benefits available

Providemarket-prevalent retirement programs

Focus executives on accumulating savings

Focus executives on rewards fromvalue-creating activities

PERQUISITES

Determining Pay

Generally, in determining base salary, target annual ICP and guidelines for long-term equity awards, the Committee considers several factors including, but not limited to, the executive officer’s:

role, including the scope and complexity of responsibilities

experience and capabilities, including institutional knowledge

contributions or responsibilities beyond the typical scope of the role

individual performance

positioning relative to our other executive officers

difficulty in recruiting a replacement, and

competitive compensation opportunities provided by our peers and other competitors for similar executive talent

Our philosophy is to incentivize and reward executive officers for future performance. While the Committee regularly reviews executive officer equity grants and vesting, it does not consider prior stock compensation in setting future compensation levels.

Peer Group and Benchmarking

To monitor competitive compensation practices, the Committee relies primarily upon data compiled from public filings of selected companies (our “Peer Group”) that it considers to be competitors or appropriate comparators for executive talent. The Committee reviews and approves the Peer Group annually. Criteria for Peer Group selection include firms that operate in data, information and analytics as well as those that have a high degree of sensitivity to mortgage origination volumes. Our 2019 Peer Group is presented in the table below.

Historically, our peer group has been challenging to construct as there are few firms that operate with highly comparable business mixes. Peers have generally been information and service providers, with some financial technology firms also included. For 2019, the Company refreshed its peer group to provide greater alignment with businesses that are sensitive to mortgage origination volumes and interest rates.

The following organizations were added to the 2019 Peer Group:

Fidelity National Information Services, Inc.

Realogy Holdings Corporation

Mr. Cooper Group, Inc. (formerly Nationstar Mortgage Holdings)

Radian Group, Inc.

PennyMac Financial Services, Inc.

Zillow Group, Inc.

MGIC Investment Corporation

Altisource Portfolio Solutions

Three peers in the 2018 Peer Group were removed due to the Committee’s determination of industry or size misalignment:

Broadridge Financial Solutions

Paychex Inc.

Teradata Corporation

CORELOGIC 2019 PEER GROUP

           Comparator Group Rationale

Company Name

 Revenue1  

Market Value

(12/31/2019)

  EBITDA
Margin
1
  

Comparable

Revenue Size2

 Comparable
Market Value
2
 Data
Analytics
 

Mortgage

Origination

 

 Direct 
 Talent 

 Competitor 

  ($MM)  ($MM)  (%)           

Fidelity National Information Services, Inc.

 $10,333  $85,485   33         

Fidelity National Financial, Inc.

 $8,477  $12,472   19         

First American Financial Corporation

 $6,202  $6,551   17       

Realogy Holdings Corp.

 $5,598  $1,107   10         

Global Payments Inc.

 $4,912  $54,868   39        

Gartner, Inc.

 $4,245  $13,785   13          

Equifax Inc.

 $3,508  $16,966   23        

Euronet Worldwide, Inc.

 $2,750  $8,513   21        

Zillow Group, Inc.

 $2,743  $9,517   -6        

FleetCor Technologies, Inc.

 $2,649  $24,969   57       

Verisk Analytics, Inc.

 $2,607  $24,472   40        

PennyMac Financial Services, Inc.

 $2,060  $2,670           

Mr. Cooper Group Inc.

 $2,007  $1,140   28        

Jack Henry & Associates, Inc.

 $1,631  $11,207   28        

Radian Group Inc.

 $1,527  $5,061   64       

MGIC Investment Corporation

 $1,214  $4,941   78       

Fair Isaac Corporation

 $1,196  $10,851   24       

Black Knight, Inc.

 $1,177  $9,522   34      

CSG Systems International, Inc.

 $997  $1,647   16        

Altisource Portfolio Solutions S.A.

 $726  $303   10         

Peer Group Summary Statistics

                      

75th %ile

 $4,745  $16,171   39     

Median

 $2,628  $9,520   24     

25th %ile

 $1,292  $3,238   16     

CoreLogic

 $1,762  $3,476   21     

Percent Rank

  34  26  40          

Notes:

Data above reflects most recent fiscal year (2019) results when available; if FY19 financial results not yet released at the time of this report, revenue and EBITDA data reflect12-month trailing results for Q4 of 2018 and Q1 - Q3 of 2019. The Committee reviews executive officer pay relative to the median pay of comparable positions in Peer Group companies and, as appropriate, relevant survey data from nationally-recognized consulting and data firms such as Willis Towers Watson, Mercer and Equilar, scoped to a comparable revenue size for us, from both general industry and the high technology sector.

Base Salary

The Committee reviews base salaries annually and adjusts them, if appropriate, to recognize performance, promotions, expansion in scope of responsibilities, and gaps relative to base salaries of similar individuals in the Peer Group and survey data described above. To increase the weighting of variable, performance-based pay in the compensation mix, in recent years the Committee primarily increased salaries for executive officers, only in recognition of a promotion, an expansion of role and responsibilities, or sustained performance, as well as to progressively address significant gaps with competitive market rates.

In 2019, the Committee increased the base salaries for Mr. Martell and Mr. Balas to partially address significant gaps in their compensation levels compared to competitive market rates. Both Messrs. Martell and Balas made major contributions to the successful execution of the Company’s strategic plan in 2019. No other currently-employed NEO received a base salary increase in 2019 (although Mr. Pinkston did receive a base salary increase in 2019 prior to his separation).

Annualized base salaries of the executive officers for 2018 and 2019 are set forth in the table below:

Named Executive Officer

  2018   2019 

Frank D. Martell

  $780,000   $825,000 

James L. Balas

  $450,000   $475,000 

Barry M. Sando

  $550,000   $550,000 

Francis Aaron Henry (1)

      $475,000 

Arnold Pinkston (2)

  $425,000   $450,000 

(1)

Mr. Henry was hired on November 4, 2019 as Chief Legal Officer and Corporate Secretary.

(2)

Mr. Pinkston was hired in January 2018 as the Chief Legal Officer and Corporate Secretary and left CoreLogic in June 2019.

Annual Incentives (ICP)

The ICP rewards executive officers for financial and operating performance relative to rigorous, predetermined financial goals and strategic objectives. As part of our business planning process, management considers a range of value drivers based on anticipated market demand including estimated mortgage origination volumes, prior year performance, business strategy and risk factors. The Committee then evaluates management’s recommendations on performance measures and goals in the context of stockholder expectations and establishes final ICP financial and strategic goals, including performance and payout ranges.

2019 Target Incentives.The Committee established the following 2019 target bonus opportunities for our NEOs:

         ICP Bonus  

Name

  Title  Base
Salary
     ($000s)     
  % of
Salary
  Target
($000s)
  Maximum
($000s)
   

Frank D. Martell

  President and CEO   $825    150%   $1,238   $2,475  

James L. Balas

  Chief Financial Officer   $475    100%   $475   $950  

Barry M. Sando

  Managing Director, Underwriting and Workflow Solutions   $550    100%   $550   $1,100  

Francis Aaron Henry (1)

  Chief Legal Officer and Corporate Secretary   $475              

Arnold Pinkston

  Former Chief Legal Officer   $450    80%   $360   $720  

(1)

Mr. Henry joined the Company in November 2019 and was not eligible for a 2019 ICP award. However, Mr. Henry will receive a payment of $385,000 to offset the loss of his 2019 bonus from his prior employer.

ICP Performance Metrics.For 2019, the Committee approved the following three performance measures for the ICP:

Revenue (GAAP)

Adjusted EBITDA — anon-GAAP metric calculated as net income from continuing operations adjusted for interest, taxes, depreciation and amortization, stock compensation,non-operating gains/losses and other adjustments.

Free Cash Flow (FCF) — anon-GAAP metric calculated as net cash from continuing operating activities, less capital expenditures for purchases of property and equipment, capitalized data and other intangible assets.

The Committee approved these measures in order to reflect a balanced perspective on performance reflecting growth, profitability and cash management. The Committee believes these measures drive the valuation of our stock. Please seeAppendix A for a detailed reconciliation of adjusted EBITDA and FCF to the most directly comparable GAAP financial measures.

For 2019, 75% of the ICP opportunity was based on our financial performance goals and 25% on established strategic objectives for each executive officer. Results for achievement of revenue, adjusted EBITDA, and FCF goals were weighted as follows in determining ICP funding:

Revenue

34%

Adjusted EBITDA

33%

Free Cash Flow

33%

Threshold Performance Requirement.For 2019, no award was payable unless our 2019 adjusted net income exceeded $62.5 million.

Funding Formula for Financial Results.At least 80% of targeted performance (threshold) must be achieved to generate any funding for that metric. The funding formula is set out in the table below. For performance levels between threshold and target or between target and maximum, the funding is determined by linear interpolation. Notwithstanding the actual ICP funding results, the Committee retains the discretion to decrease the actual payment for an ICP participant.

Performance Level

  Less than
Threshold
   Threshold   Target   Maximum
and Above
 

Performance as % of Target

   < 80%    80%    100%    120% 

Payout as a % of Target

   0%    34%    100%    200% 

The sum of the weighted results of the three financial metrics funds the ICP awards. For 2019, NEOs received 75% of their ICP payout based on financial results. Awards for the remaining 25% of the funded amount were based on an evaluation of performance on strategic goals. For outstanding performance on strategic objectives, the ICP structure permits the strategic goal payment percentage of up to 200% of target.

Financial results were measured at the corporate level for NEOs except for Mr. Sando, whose financial results were weighted 33.3% on the corporate metrics previously outlined and 66.7% on revenue and adjusted EBITDA results for the business segment he manages. Funding for his strategic objectives component was determined by corporate results as for the other NEOs.

Determining Awards for Strategic Goal Achievement.The Committee determined that three major areas of our business strategy should continue to be used for ICP strategic goals: (1) growth and innovation, (2) operational excellence, and (3) high performing organization. The Committee believed that these were the critical strategic focal areas for accelerating achievement of our long-strategy performance which are not otherwise measurable through annual financial performance metrics. Each executive officer was assigned specific objectives within each category.

The CEO provided the Committee with his assessment of individual results on strategic goals for the other executive officers and the Committee assessed the achievement level of the CEO. Based on these assessments, the Committee determined strategic goal achievement awards for each of the NEOs.

2019 Financial Results and Funding. Due to a delay in the timing of the AMC reset and the wind down ofnon-core platforms, management recommended, and the Committee exercised its discretion to approve, an increase in the 2019 revenue target from $1,605 billion to $1,715 billion, which is reflected in the table below. The increased revenue target reduced the overall ICP funding for financial results from 140.7% to 128.7% of target. The funding calculation is presented in the table below.

Financial Performance Metric

  Weight   Target
($000)
   Actual 2019
Results
($000)
   Percentage
Achieved
   Funding
Percentage
 

2019 Revenue

   34%   $1,715   $1,762.2    102.8%    113.8% 

2019 Adjusted EBITDA

   33%   $450   $497.6    110.6%    152.9% 

2019 Free Cash Flow

   33%   $247.5   $257.4    104.0%    120.0% 

Total

   100%              105.7%    128.7% 

Strategic Goal Results and Awards.Following a detailed review of individual performance objectives,the Committee assigned a percentage of target for each executive officer as indicated in the table below. In addition to the objectives that were set at the beginning of the year, the Committee took into consideration strategic actions undertaken by the executives that were identified by management during the year in response to the challenging economic environment. Mr. Henry was not eligible for an ICP award for the 2019 performance year given that he joined the Company in November 2019, but as noted above will receive a bonus payment of $385,000 for 2019. Mr. Pinkston did not receive an annual incentive payout given his departure in June 2019.

       ICP Target       Financial Results     Individual Strategic Results     ICP Award 

Name

 ($000)  % of Target  75% Weight      % of Target  25% Weight      % of Target  Award ($000) 

Frank D. Martell

 $1,238   128.7  96.6      169.8  42.4      139 $1,720 

James L. Balas

 $475   128.7  96.6      169.6  42.4      139 $660 

Barry M. Sando (1)

 $550   142.6  107.0      128.8  32.2      139 $765.5 

Arnold A. Pinkston (2)

 $360                                 

(1)

Financial goals for Mr. Sando are calculated based on a split between corporate targets (25%) and segment revenue and adjusted EBITDA targets (50%), together accounting for 75% of his total ICP award. Unadjusted funding results for the segment were 149.6% of target resulting in weighted financial results of 107% and a total ICP award equal to 139.2% of his target.

(2)

Mr. Pinkston was not eligible to receive an annual incentive payout due to his departure from CoreLogic in June 2019.

Long-Term Incentives (LTI)

Our LTI program is designed to motivate and reward profitable growth and stockholder value creation through awards of performance-based and time-vested equity. The Committee believes that using performance-based and time-vesting equity vehicles reinforces both performance and retention of key executives while aligning their interests with those of our stockholders and encouraging an appropriate level of risk-taking.

Long-term incentives represent the largest component of executive officer compensation. In 2019, we granted 50% of total LTI value in PBRSUs and 50% in RSUs.

The Committee may modify the target awards in consideration of any factor it considers relevant including competencies, skills, prior experiences, scope of responsibility and accountability within the organization, and the LTI awards made by Peer Group companies to similarly-situated executive officers.

LTI Targets.For 2019, the Committee approved awards at target for our NEOs:

      Base
Salary
   Target LTI 

Name

  Title  ($000s)   % of Salary   ($000s) 

Frank D. Martell

  President and CEO  $825    480  $3,960 

James L. Balas

  Chief Financial Officer  $475    200  $950 

Barry M. Sando

  MD, Underwriting and Workflow Solutions  $550    200  $1,100 

Francis Aaron Henry (1)

  Chief Legal Officer  $475    200  $950 

Arnold A. Pinkston (2)

  Former Chief Legal Officer  $450    200  $900 

(1)

Mr. Henry did not receive an LTI grant in 2019. His first LTI grant will be in March 2020 in the amount noted in the table.

(2)

Mr. Pinkston forfeited the 2019 grant upon his departure from the Company in June 2019.

LTI Components. The following chart summarizes our LTI components for 2019:

LTI VEHICLE

WEIGHTOVERVIEW

PBRSUs

50%

•  3-year measurement and vesting period using adjusted EPS growth goals

•  Earn the greater number of shares from:

•  3 annual measurements against1-year targets

•  3-year measurement against3-year targets

•  Shares earned from adjusted EPS performance subject to modification based on TSR relative to our peers for1-year and3-year measurement periods

RSUs

50%

•  Vests in equal annual installments over 3 years

•  Vesting subject to achievement of threshold level of adjusted net income

PBRSUs Granted in 2019.The 2019 PBRSUs are earned based on adjusted EPS achieved relative to annual targets for each of the three years of the performance period 2019 through 2021.

Shares earned are calculated as described below. Participants earn the greater number of PBRSUs resulting from Step 1 or Step 2 (described in Step 3).

Step 1: Calculate PBRSUs Earned Annually

As illustrated in the graphic below, adjusted EPS and relative TSR results determine the portion of the PBRSUs that are earned each year.

LOGO

(A)

For the PBRSUs granted in 2019, 30% of the PBRSUs may be earned based on 2019 performance, 50% based on 2020 performance, and 20% based on 2021 performance.

(A) PBRSUs Eligible to be Earned Based on Annual Adjusted EPS Results (% of Total PBRSUs Granted)

2019

  2020  2021

30%

  50%  20%

(B)

The number of PBRSUs earned is based on a schedule that provides for 50% of PBRSUs to be earned for annual adjusted EPS results at 80% of target (threshold), 100% of PBRSUs to be earned for results at 100% of target (target), and 200% of PBRSUs to be earned for results at 120% of target (maximum). PBRSUs earned for results between these levels are determined by interpolation.

(B) PBRSUs Earned Based on Adjusted EPS Results

 

Performance Level

  Adjusted Annual EPS
Results (% of Target)
   Accrued PBRSUs
Earned (% of Target)
 

Less than Threshold

   < 80%    0% 

Threshold

   80%    50% 

Target

   100%    100% 

Maximum+

   120%    200% 

(C)

The number of PBRSUs earned is then subject to modification based on our relative total stockholder return compared to our 2019 Peer Group (“TSR Modifier”). The TSR Modifier ensures alignment of PBRSU payouts and results for stockholders.

(C) TSR Modifier

PBRSUs Earned from
Adj. EPS Results (B)

Annual TSR

Performance (Relative
to Peers)

Modifier

150% to 200% of Target

55 Percentile or AboveNo modification
Below 55 PercentileEarnout capped at 150% of target

50% to 150% of Target

No modifications

0%

Above Peer medianEarnout is 50% of target
Below Peer medianNo earnout

(D)

PBRSUs earned each year are accrued until the end of the three-year performance period.

Step 2: Calculate PBRSUs Earned at End of3-Year Performance Period

LOGO

Calculations of PBRSUs earned at the end of the3-year performance period use the same schedules as for annual calculations described in Step 1 above, but over a3-year period.

Step 3: PBRSUs earned equals the greater of cumulative PBRSUs earned in the 3 annual calculations during the grant cycle (from Step 1) or the3-year calculation (from Step 2)

2019 Performance for 2019 PBRSU Grant.We achieved strong financial and operating results in the first year of the 2019 PBRSU performance period despite the macro-economic headwinds, as evidenced by adjusted EPS outcomes at above-target performance levels.

PBRSUs
Awarded
for 2019
Performance

 % of
Award
Subject
to Crediting in
2019
  Adjusted
EPS
Target
  Adjusted
EPS
Results
  Adjusted
EPS
Performance
  % of
Award
Credited
for
Adjusted EPS
Results
  % of
Award
Credited
Adjusted for
TSR
Modifier
 

2019

  30 $2.64  $2.83   126  60  45

Restricted Stock Units Granted in 2019.Vesting of RSUs granted in 2019 was subject to the achievement of $62.5 million in adjusted net income for 2019. Adjusted net income results exceeded this threshold.

RSUs vest in three equal installments on the first, second, and third anniversaries of the grant date. These awards encourage executive officer retention and align the interests of executive officers with those of stockholders.

2019 LTI Awards.2019 long-term incentive awards were made at targeted grant value for each of the NEOs, other than Mr. Henry who did not receive an LTI award in 2019. 2019 grant awards are presented in the table below (with award amounts rounded to the nearest hundred).

   2019 Grant Values 

Named Executive Officer

  RSUs   PBRSUs (1) 

Frank D. Martell

  $1,980,000   $1,980,000 

James L. Balas

  $475,000   $475,000 

Barry M. Sando

  $550,000   $550,000 

Arnold A. Pinkston

  $450,000   $450,000 

(1)

PBRSU amount shown at target performance level. Based on 2019 performance, the portion of the PBRSUs tied to 2019 performance will be eligible to vest contingent upon continued employment through December 31, 2021.

PBRSUs Settled After 2019.PBRSUs granted in 2017 were paid out after the end of the 2017-2019 performance period. The calculation of the payout is presented in the table below. Actual adjusted EPS resulted in above-target performance on both an annual and3-year calculation basis with the sum of the annual results at 131.44% slightly above the3-year results of 129%. As performance did not trigger a payout above 150% of target, there was no modification from the TSR Modifier and the payout was set at 131.44%.

2017-2019
PBRSU
Performance
Period
 % of Award
Subject to
Crediting for
Annual
Performance
  Adjusted
EPS
Target
  Adjusted
EPS
Results
  % of
Budget
  % of
Target
  % of Award
Subject to
Credit for
Adjusted
EPS
Results
  % Vesting-
Adjusted for
TSR
Modifier
 

2017

  30 $2.35  $2.37   101  104  31  N/A 

2018

  50 $2.49  $2.72   109  146  73  N/A 

2019

  20 $2.64  $2.83   107  136  27  N/A 

Cumulative

  100 $7.48  $7.92   106  129  129  N/A 

Sum of Each Year

                      131.44    

The number of shares earned from the 2017 PBRSU award is presented in the table below.

   2017 PBRSU Grant — 2019 Vesting 

Name

  Target   Earned 

Frank D. Martell

   41,421    54,442 

James L. Balas

   10,844    14,252 

Barry M. Sando

   14,034    18,445 

Timing of Equity Awards.After Committee approval, we generally issue annual equity awards to executive officers on the second day on which the NYSE is open for trading following the filing of our Annual Report onForm 10-K, using the last sale price reported for a share of our common stock on the NYSE on that date. Grants to new hires or other grants outside the annual grant cycle follow the same methodology, except that awards are generally issued on the 20th day (or the next succeeding business day if the market is closed on the 20th day) of the third month of the calendar quarter that follows the date on which the Committee approved the awards.

SpecialOne-Time A30 Award. In 2018, the Compensation Committee approved a specialone-time award (the “A30 Award”) to senior leaders to provide a focused incentive for achievement of an aggressive adjusted EBITDA margin expansion between 2018 and 2020. The award is also intended to enhance executive retention and promote the achievement of major strategic initiatives (e.g., workflow automation and adoption of related

technologies) that improve EBITDA margins. In 2019, Mr. Henry received an A30 PBRSU of $475,000. No other NEO received an A30 award or any time of incremental awards beyond their regular 2019 grants (see FY2018 proxy for additional information on grant performance ranges and payout).

Employment Inducement Award

Mr. Henry joined CoreLogic as its Chief Legal Officer and Corporate Secretary in November 2019. In order to provide an inducement for Mr. Henry to join CoreLogic, the Committee approved a total payment of $500,000 in cash which will be paid in two installments in March and December of 2020. As such, the value of such award will be disclosed in the Summary Compensation Table next year as part of the 2021 proxy.

Retirement and Employee Benefit Plans

Executive officers are entitled to the same benefits generally available to all full-time employees (subject to fulfilling any minimum service requirement) including the 401(k) plan, healthcare, life insurance and other welfare benefit programs. In designing these benefits, we seek to provide an overall level of benefits that is competitive with those offered by similar companies in the markets in which we operate. We believe that these employee benefits provide a valuable recruiting and retention mechanism for our executive officers and enable us to compete more successfully for qualified executive talent.

Executive Supplemental Benefit Plan and the Pension Restoration Plan.Mr. Sando became a participant in our Executive Supplemental Benefit Plan (the “Executive Supplemental Benefit Plan”) prior to its closure to new participants in 2010. On November 18, 2010, we amended the Executive Supplemental Benefit Plan to freeze benefits effective as of December 31, 2010. As a result, compensation earned after 2010 is not considered in determining covered compensation and final average compensation; service after 2010 is not recognized, except for vesting purposes. Mr. Sando is also a participant in the Pension Restoration Plan, which is limited to individuals who became participants before 1995. Explanation of these plans can be found in the Pension Benefits table below.

Deferred Compensation Plan.The Deferred Compensation Plan is anon-qualified retirement plan that allows eligible participants to defer up to 80% of their salary and annual incentive bonus. Participation is limited to executive officers and certain other key employees. In 2010, we amended the Deferred Compensation Plan to provide additional Company contributions in the form of 401(k) restoration.

Other Benefits.We also maintain an executive life insurance program for executive officers and other key employees. This program provides the participant with up to two times their annualized base salary (up to a maximum of $1 million) in group universal life insurance.

Further details regarding perquisites are found in the 2019 Summary Compensation Table and accompanying footnotes.

Role of the Committee and the Chief Executive Officer

The Committee is composed solely of independent members of our Board. The Committee reviews and approves executive officer base salaries, annual incentive bonus programs, long-term incentive compensation and other incentive and executive benefit plans. The Committee, in consultation with its independent compensation consultant, analyzes the reasonableness of executive officer compensation, in part by reviewing compensation data from comparable companies and from relevant other industry sources.

Decisions regarding compensation of the CEO are made solely by the Committee based on its deliberations with input from its independent compensation consultant. Decisions regarding other executive officers are made by the Committee after considering recommendations from the CEO as appropriate, as well as input from the Committee’s independent compensation consultant. Our CEO and, as appropriate, Chief Legal Officer, Chief Financial Officer and Chief Human Resources Officer, may attend the portion of the Committee’s meetings where individual executive officer performance is discussed. Only Committee members may vote on executive officer compensation decisions.

The Committee regularly meets in executive session with its independent compensation consultant.

Role of Independent Compensation Consultant

The Committee retained Pay Governance LLC as its independent compensation consultant to advise on executive officer compensation for 2019. The consultant generally advises the Committee on all aspects of the executive compensation program design and governance process. During 2019, as part of its engagement with the Committee, the independent compensation consultant:

advised on the selection of a peer group of companies for executive officer compensation comparison purposes

provided guidance on industry best practices, emerging trends and developments in executive officer compensation, and investor views of compensation design and practices

consulted on incentive design

advised on determining the total compensation of each of our executive officers and the material elements of total compensation, including (1) annual base salaries, (2) target cash bonus amounts, and (3) the structure and target amount of long-term incentive awards

Consulted onnon-employee director compensation, and

Assisted on a compensation risk assessment

The Committee retained its independent compensation consultant directly, although in carrying out assignments, the consultant also interacted with Company management on behalf of the Committee. Pay Governance performed no services for the Company, and the Committee does not believe the independent compensation consultant’s work has raised any conflict of interest. The Committee has the sole authority to select, retain, and terminate the independent compensation consultants.

Adjustment or Recovery of Awards (Claw-backs)

The Company maintains a recoupment policy that enables recovery of performance-based compensation to the extent that it is later determined that applicable performance goals were not actually achieved taking into account a financial restatement or ethical misconduct. We also added claw-backs in employment agreements for all executive officers. This policy applies to all performance-based incentive plans including but not limited to the annual incentive cash bonus and performance-based equity awards described above.

Anti-Hedging and Pledging Policy

The Company maintainsWe maintain a policy that prohibitsrestricts our directors, executive officers and other employees from engaging in hedging or monetization transactions, including prepaid variable forwards, equity swaps, collars and exchange funds, that may permit continued ownership of Company securities obtained through employee benefit plans or otherwise, but without the full risks and rewards of ownership. Pursuant to our policy, we also prohibit our directors, executive officers and other employees from engaging in transactions in put options, call options or other derivative securities, on an exchange or in any other organized market, as well as holding Company securities in a margin account or otherwise pledging Company securities as collateral for a loan.loan (except in limited circumstances if the person pledging the securities is able to demonstrate that he or she has the financial capacity to repay the loan without resort to the pledged securities). No such exception is currently in place.

Executive Stock Ownership

CORPORATE GOVERNANCE

Board and Board Committee Matters

The Board currently consists of 12 directors. Pursuant to the listing rules of the NYSE, a majority of the Board must be independent. A director will not qualify as independent unless the Board affirmatively determines that the director has no material relationship with us (either directly or as a partner, stockholder or officer of an organization that has a relationship with us). To assist in its determination of director independence, the Board has adopted categorical director independence standards, which are contained in our Corporate Governance Guidelines. The Corporate Governance Guidelines and Retention Requirements

We require our executive officersare available to own a fixed amountstockholders on the Investors section of our stock.website under Leadership & Governance-Highlights at www.corelogic.com.

In accordance with applicable NYSE listing rules and our categorical director independence standards, the Board has affirmatively determined that each of Messrs. Chatham, Curling, Dorman, Folino, O’Brien, Raina, Shepherd and Walker, and Mses. Munce, Patenaude and Studenmund is “independent”. Mr. Martell is not considered independent because he serves as our President and Chief Executive Officer. In addition, Mary Lee Widener, who served on our Board from 2010 through the 2020 Annual Meeting, was also considered “independent” under the NYSE listing standards.

Committees of the Board; Committee Charters

There are currently four standing committees of the Board: the Audit Committee, the Compensation Committee, the Nominating and Corporate Governance Committee and the Strategic Planning and Acquisition Committee. In addition to the four standing committees, the Board may approve, and has from time to time approved, the creation of special committees or subcommittees to act on behalf of the Board.

Each of the standing committees operates under a written charter adopted by the Board. The rigorous guidelinescharters of the Audit Committee, Compensation Committee and Nominating and Corporate Governance Committee are basedavailable on a multiplethe Investors section of base salaryour website under Leadership & Governance-Highlights at www.corelogic.com. Each committee reviews and reassesses the adequacy of its charter annually, conducts annual evaluations of its performance with respect to its duties and responsibilities as outlinedlaid out in the charter, and reports regularly to the Board with respect to the committee’s activities.

The current members of the Committees are identified below:

Audit Committee

 

Position

Members
            Ownership GuidelinesCommittee Functions

Chief Executive OfficerDavid F. Walker*, Chairman

6x base salary

Chief Financial OfficerJ. David Chatham

3x base salary

Managing Directors

3x base salary

Other Executive Officers

1x base salary

Covered officers have five years from their date of hire or promotion to the covered position to reach the ownership requirement. All Company securities owned outright or earned and subject only to time-based

vesting restrictions count toward the requirement; stock options do not count toward the ownership requirement. Furthermore, we have adopted a share retention requirement which provides that all covered executives must hold at least 50% of net (after tax) shares until the stock ownership guidelines described above are achieved. All current NEOs have met their ownership requirements or still have time remaining to reach the ownership requirement.

Actual Share Ownership vs. Minimum Share Ownership Requirement

(As multiple of base salary)

LOGO

Employment Agreements and Severance Arrangements

Each currently employed executive officer is party to an employment agreement with us. The Committee believes that offering employment agreements to key executive officers is consistent with peer practices and serves as an effective retention tool. Each agreement is individually negotiated and terms may vary. For additional information regarding the terms of the employment agreements, including severance arrangements that we have entered into with our executive officers see “Employment Agreements” below.

Change in Control Agreements

Equity awards are currently issued under the 2018 Plan, which was approved by our stockholders at our annual meeting held in May 2018. Prior to the approval of the 2018 Plan, we issued share-based awards under the 2011 Plan, as amended. The 2011 Plan and 2018 Plan do not include an automatic “single trigger” change in control vesting provision. Instead, both plans include a change in control provision where automatic accelerated vesting of an award in connection with a change in control will only occur if an acquirer or successor to us fails to assume or continue the awards or the awards otherwise do not survive the transaction. Additionally, award agreements include “double-trigger” severance protections and provide for accelerated vesting of awards that remain outstanding following a change in control transaction in the event of a termination without cause following a change in control.

The Deferred Compensation Plan generally provides for accelerated vesting of awards or benefits, as the case may be, in the event of a change in control of the Company. In addition, the Executive Supplemental Benefit Plan provides that when a participant incurs an involuntary separation from service without good cause subsequent to a change in control, payment of benefits will commence in the same manner and in the same amount as if the participant had attained his or her normal retirement age on the date of termination.

In addition to the plan and award agreement provisions described above, we have entered into a change in control agreement (a “Change in Control Agreement”) with each of our NEOs. Under the Change in Control Agreement, a “change in control” means the consummation of any one of the following:

a merger or consolidation of the Company in which our stockholders end up owning less than 50% of the voting securities of the surviving entity

the sale, transfer or other disposition of all or substantially all of our assets or the complete liquidation or dissolution of the Company

a change in the composition of our Board of Directors over atwo-year period as a result of which fewer than a majority of the directors are incumbent directors, as defined in the agreement, or

the acquisition or accumulation by any person or group, subject to certain limited exceptions, of at least 30% of our voting securities

If the termination of our executive officer’s employment occurs without cause or if the executive officer terminates his employment for good reason within the twenty-four-month period following a change in control, we will pay the following benefits in one lump sum in the month following the month in which the date of the termination occurs:

the executive officer’s base salary through and including the date of termination and any accrued but unpaid annual incentive bonus

between two and three times the executive officer’s target annual cash bonus amount established for the fiscal year in which the termination occurs, and

between two and three times the executive officer’s annual base salary in effect immediately prior to the date of termination

Furthermore, under the Change in Control Agreement, for a period ranging from twenty-four tothirty-six months and subject to the covered executive officer’s continued payment of the same percentage of the applicable premiums as the executive officer was paying immediately prior to the date of termination or, if more favorable to the executive officer, at the time at which the change in control occurred, we will provide medical and dental coverage pursuant to COBRA for the executive officer (and if applicable, the executive officer’s dependents). To the extent that the executive officer cannot participate in the plans previously available, we will provide such benefits on the sameafter-tax basis as if they had been available. These obligations are reduced by any welfare benefits made available to the executive officer from subsequent employers.

The Change in Control Agreement provides that if any excise tax imposed by Section 4999 of the Code (or any similar tax), applies to the payments, benefits or other amounts payable under the agreement or otherwise, including without limitation, any acceleration of the vesting of outstanding stock options, restricted stock or performance shares (collectively, the “Total Payments”), then the Total Payments will be reduced (but not below zero) so that the maximum amount of the Total Payments (after reduction) will be $1.00 less than the amount which would cause the Total Payments to be subject to the excise tax; provided that such reduction to the Total Payments will be made only if theafter-tax benefit to the executive officer is greater after giving effect to such reduction than if no such reduction had been made. This type of provision is often referred to as a “modifiedcut-back,” and is included because the Change in Control Agreement does not provide for any type of “gross up” or similar benefit.

The Change in Control Agreement had an initial term through December 31, 2011 and is automatically extended for additionalone-year periods unless either party notifies the other not later than the preceding January 1 that it does not wish to extend the term for an additional year. All agreements with current executive officers have since been extended through December 31, 2020. For a description of the calculations and further explanation of the payments due to the executive officers upon termination of employment and/or a change in control, see Potential Payments upon Termination or Change in Control tables below.

Impact of Tax and Accounting

As a general matter, the Committee considers the various tax and accounting implications of the compensation vehicles we employ. When determining amounts of long-term incentive grants to executive officers and employees, the Committee examines the accounting cost associated with the grants. Under accounting guidance, grants of stock options, RSUs and PBRSUs result in an accounting charge for the Company over their vesting period. The accounting charge is equal to the fair value of the instruments being issued. For RSUs, the cost is generally equal to the fair value of the stock on the date of grant times the number of shares granted. This expense is amortized over the requisite service period. With respect to stock options, we calculate the fair value of the option and take that value into account as an expense over the vesting period, after adjusting for forfeitures. For PBRSUs, we calculate the fair value of the award upon grant and adjust the

value to be expensed on a quarterly basis over the performance period based on expected award payouts, after adjusting for forfeitures.

Section 162(m) of the Code generally prohibits a publicly-held company from deducting compensation paid to a current or former NEO that exceeds $1.0 million during the tax year. Certain awards granted before November 2, 2017 that were based upon attainingpre-established performance measures that were set by the Committee under a plan approved by the Company’s stockholders, as well as amounts payable to former executive officers pursuant to a written binding contract that was in effect on November 2, 2017, may qualify for an exception to the $1.0 million deductibility limit.

As one of the factors in its consideration of compensation matters, the Committee noted this deductibility limitation. However, the Committee has the flexibility to take any compensation-related actions that it determines are in the best interests of the Company and our stockholders, including awarding compensation that may not be deductible for tax purposes. There can be no assurance that any compensation will in fact be deductible.

COMPENSATION COMMITTEE REPORT

The Compensation Committee has reviewed and discussed the foregoing CD&A with management. Based on its review and discussions, the Compensation Committee has recommended to the Board that the CD&A be included in the Company’s Annual Report onForm 10-K for the year ended December 31, 2019 and in the Company’s proxy statement for its 2020 Annual Meeting of stockholders.

Members of the Compensation Committee

J. David Chatham, ChairJohn C. Dorman*

Paul F. Folino

Pamela H. Patenaude

Meetings in 2019: six

* Our Board has determined that each of Messrs. Walker and Dorman is an “audit committee financial expert” within the meaning of the SEC’s rules and regulations and that each member of our Audit Committee is “independent” under applicable SEC rules and the listing standards of the NYSE and is

•  overseeing the integrity of our financial reporting processes in consultation with the independent auditor, management and our internal audit function;

•  reviewing internal auditing procedures and results;

•  appointing, compensating, retaining, evaluating and overseeing our independent registered public accounting firm;

•  engaging with our compliance and risk management executives to review the state of enterprise risk management and compliance programs with a view to understanding the steps management has taken to monitor and control our major risk exposures;

•  reviewing with internal counsel the state of litigation, claims and regulatory matters and overseeing our compliance with legal and regulatory matters;

“financially literate” under the listing standards of the NYSE.

•  discussing with management, internal audit and external advisors the state of internal controls and our practices with respect to financial disclosure;

•  directing and supervising investigations into matters within the scope of its duties; and

•  reviewing with the independent registered public accounting firm the plan and results of its audit and determining the nature of other services to be performed by, and fees to be paid to, such firm.

The Audit Committee has established procedures to receive, retain and address complaints regarding accounting, internal accounting controls or auditing matters, and for the submission by our employees or third parties of concerns regarding questionable accounting or auditing matters or other ethics and compliance-related matters. Our 24-hour, toll-free hotline is available for the submission of such concerns or complaints at 1-888-632-5395 or concerns or complaints may also be reported online at https://corelogic.alertline.com. To the extent required by applicable law, individuals wishing to remain anonymous or to otherwise express their concerns or complaints confidentially are permitted to do so.

Compensation Committee

MembersCommittee Functions

J. David Chatham, Chairman

Paul F. Folino

Claudia Fan Munce

Thomas C. O’Brien

Jaynie Miller Studenmund

COMPENSATION COMMITTEE INTERLOCKS AND INSIDER PARTICIPATION

Messrs. Chatham (Chair), Folino, O’BrienMeetings in 2019: seven

•  establishing and Mmes. Muncereviewing our compensation philosophy;

•  overseeing the design and Studenmund served onreviewing the operation of all executive compensation and employee benefit plans and programs;

•  reviewing and approving corporate goals and objectives relevant to the compensation of our chief executive officer, including annual performance objectives, and evaluating our chief executive officer in light of those objectives;

•  reviewing and approving the compensation of our executive officers;

•  reviewing and approving awards of equity under the Company’s equity-based plans;

•  responsibility for review and approval of employment agreements with our chief executive officer and other executive officers; and

•  exercising oversight of the Company’s disclosures regarding executive compensation, including reviewing the Compensation Discussion and Analysis contained in our proxy statement for the 2020 Annual Meeting and preparing the Compensation Committee during 2019. No person who served asReport for inclusion in our proxy statement for the 2020 Annual Meeting.

The Compensation Committee also has key oversight responsibilities in the following areas, all of which are described in more detail elsewhere in our proxy statement for the 2020 Annual Meeting:

•  assessing risk in relation to the Company’s compensation policies and practices;

•  reviewing and making recommendations to the Board concerning development and succession planning; and

•  reviewing and recommending to the Board the form and level of non-management director compensation.

The Compensation Committee may delegate specific responsibilities to a membersubcommittee of one or more members of the Compensation Committee. The Compensation Committee during 2019 was or is an officer or employeehas not delegated any authority but certain responsibilities related to granting of equity awards has been delegated by the Board to the Equity Awards Committee as described below.

Committee Advisors

Pay Governance LLC (“Pay Governance”) was initially retained as the Compensation Committee’s independent compensation consultant in 2015 and continues to be engaged by the Compensation Committee. The Compensation Committee also seeks input from our Chief Executive Officer, Chief Financial Officer, Chief Human Resources Officer and Chief Legal Officer when making decisions regarding compensation matters. During 2019, Pay Governance attended six of the seven Compensation Committee meetings.

Pay Governance provided to the Compensation Committee, among other things, guidance as to our peer group for 2019 compensation for executive compensation comparison purposes; director compensation for 2019; and determining 2019 total compensation of each of our executive officers and the material elements of total compensation, including (1) annual base salaries, (2) target cash bonus amounts and (3) the structure and target amount of long-term incentive awards.

Pay Governance did not perform any services for the Company and the Compensation Committee does not believe that the services performed by Pay Governance raised any conflict of interest. The Compensation Committee regularly reviews the services provided by its independent compensation consultant.

Committee Independence

Our Board has determined that each member of our Compensation Committee is “independent” under applicable listing standards of the NYSE. In making its independence determination for each member of the Compensation Committee, our Board considered whether the director has a relationship with us that is material to the director’s ability to be independent from management in connection with the duties of a compensation committee member. In addition, our Board has determined that each of Messrs. Chatham, Folino, O’Brien and Mses. Studenmund and Munce is a “non-employee director” for purposes of Rule 16b-3 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and satisfies the requirements of an “outside director” for purposes of Section 162(m) of the Internal Revenue Code (the “Tax Code”).

Equity Awards Committee

The Equity Awards Committee was created by the Board in 2016 and has been delegated limited authority to approve and establish the terms of equity awards granted to eligible participants under our equity incentive plans. Mr. Martell is the sole committee member.

Nominating and Corporate Governance Committee

MembersCommittee Functions

Thomas C. O’Brien, Chairman

Douglas C. Curling

Paul F. Folino

Vikrant Raina

J. Michael Shepherd

Jaynie Studenmund

Meetings in 2019: four

•  identifying individuals qualified to become directors on our Board;

•  recommending to the Board candidates for election at annual meetings by the stockholders and candidates to fill vacancies and newly-created directorships;

•  overseeing the evaluation of the Company. No executive officer of the Company serves or served as a director or member of the compensation committee of another company who employed or employs any member of the Company’s Compensation Committee or the Board.

EXECUTIVE COMPENSATION TABLES

2019 Summary Compensation Table

The following table sets forth certain information concerning compensation of each named executive officer who served as such during the fiscal years ended December 31, 2019, 2018Board and 2017, other than for Mr. Pinkston, for whom compensation information is provided only for the fiscal year ended December 31, 2018its committees; and 2019, and Mr. Henry, for whom compensation information is provided only for the fiscal year ended December 31, 2019, the years in which each was a named executive officer. The positions listed below are as of December 31, 2019.

 

Name and

Principal Position

 Year  Salary  Bonus  

Stock

Awards

  

Option

Awards

  

Non-Equity

Incentive Plan

Compensation

  

Change in

Pension Value

and

Nonqualified

Deferred

Compensation

Earnings

  

All Other

Compensation

  Total 
       

(4) ($)

 

  

(4) ($)

 

  

(5) ($)

 

  

(6) ($)

 

  

(7) ($)

 

  

(8) ($)

 

  

(9) ($)

 

  

($)

 

 

 

Frank D. Martell

 

 

 

 

2019

 

 

 

 

 

 

823,962

 

 

    

 

 

 

3,959,957

 

 

 

 

 

 

 

 

 

 

 

 

1,720,000

 

 

 

 

 

 

 

 

 

 

 

 

62,495

 

 

 

 

 

 

6,566,414

 

 

President and Chief

Executive Officer (1)

  2018   778,942      3,704,964      1,092,000      65,748   5,641,654 
  2017   710,577      3,262,445      1,250,000      61,177   5,284,199 

 

James L. Balas

 

 

 

 

2019

 

 

 

 

 

 

474,423

 

 

    

 

 

 

949,926

 

 

  

 

 

 

660,000

 

 

 

 

 

 

 

 

 

 

 

 

29,443

 

 

 

 

 

 

2,113,792

 

 

Chief Financial Officer

  2018   449,519      1,349,905      450,000      30,856   2,280,280 
   2017   425,000      849,992      525,000      31,411   1,831,401 

 

Barry M. Sando

 

 

 

 

2019

 

 

 

 

 

 

550,000

 

 

    

 

 

 

1,099,950

 

 

 

 

 

 

 

 

 

 

 

 

765,500

 

 

 

 

 

 

1,296,860

 

 

 

 

 

 

46,581

 

 

 

 

 

 

3,758,891

 

 

Managing Director,
Underwriting &
Workflow Solutions

 

  2018   550,000      1,649,903      522,500      50,556   2,772,959 
  2017   550,000      1,099,985 ��    690,000   634,144   52,523   3,026,652 
                                    

 

Francis Aaron Henry

 

 

 

 

2019

 

 

 

 

 

 

63,942

 

 

 

 

 

 

385,000

 

 

 

 

 

 

474,987

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1,108

 

 

 

 

 

 

925,037

 

 

Chief Legal Officer and Corporate Secretary (2)

 

         
                                    

 

Arnold A. Pinkston

 

 

 

 

2019

 

 

 

 

 

 

215,769

 

 

    

 

 

 

899,994

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

3,396

 

 

 

 

 

 

1,119,159

 

 

Former Chief Legal Officer & Corporate Secretary (3)

 

  2018   415,192      1,274,903      340,000      12,847   2,042,943 
                                    

(1)

Effective March 6, 2017, the Board appointed Mr. Martell to the position of President and Chief Executive Officer and principal executive officer.

(2)

Francis Aaron Henry was appointed Chief Legal Officer and Corporate Secretary on November 4, 2019. His annual base salary is $475,000, and has been reflected for days employed in 2019. The bonus amount represents aone-time award to compensate Mr. Henry for the loss of his annual bonus at his prior employer.

(3)

Arnold A. Pinkston was appointed Chief Legal Officer and Corporate Secretary on January 2, 2018 and left the company on June 14, 2019.

(4)

Amounts include any amounts electively deferred by the NEO under the Deferred Compensation Plan.

(5)

For 2019, reflects the aggregate grant date fair value of stock awards, consisting of RSUs and PBRSUs, computed in accordance with the Financial Accounting Standards Board’s Accounting Standards Codification Topic 718, Compensation-Stock Compensation. We valued the RSUs as of the grant date by multiplying the closing price of our common stock on that date by the number of RSUs awarded. We valued the PBRSUs as of the grant date by multiplying the closing price of our common stock on that date by the target number of PBRSUs that will vest upon achievement of the target performance. The RSUs were granted and vest contingent upon the satisfaction of certain performance criteria through December 31, 2019, which criteria were satisfied, and thereafter vest based on continued employment through December 31, 2021. The PBRSUs were granted and vest contingent upon satisfaction of certain performance criteria and continued employment through December 31, 2021 (or December 31, 2020 in the case of the A30 Award granted to Mr. Henry). If the highest performance target is met or exceeded, the value of the awards at grant date would be as follows: Mr. Martell $3,959,957; Mr. Balas $949,926; Mr. Sando $1,099,950; Mr. Henry $949,974 and Mr. Pinkston $899,994.

(6)

The Company did not grant stock options in 2017, 2018 or 2019.•  developing, recommending to the Board and periodically reviewing the corporate governance principles and policies applicable to us.

(7)

For 2019, represents the annual incentive bonus that was paid to each NEO and includes any amounts electively deferred by the NEO under the Deferred Compensation Plan.

Board Diversity

We do not have a formal policy for the consideration of diversity in identifying nominees for director. However, the Nominating and Corporate Governance Committee recognizes the benefits associated with a diverse Board and, as indicated above, considers diversity as a factor when identifying and evaluating candidates for membership on our Board. The Nominating and Corporate Governance Committee utilizes a broad conception of diversity, including professional and educational background, prior experience on other boards of directors (both public and private), political and social perspectives as well as race, gender and national origin. Utilizing these factors, and the factors described below under “Evaluation of Director Nominees,” the Nominating and Corporate Governance Committee makes recommendations, as it deems appropriate, regarding the composition and size of the Board. The priorities and emphasis of the Nominating and Corporate Governance Committee and of the Board may change from time to time to take into account changes in business and other trends and the portfolio of skills and experience of current and prospective Board members.

Stockholder Recommendations for Director Nominees

The Nominating and Corporate Governance Committee has adopted procedures by which certain of our stockholders may recommend director nominees to the Board. In particular, the Nominating and Corporate Governance Committee has established a policy whereby it will accept and consider, in its discretion, director recommendations from any stockholder holding in excess of 5% of our outstanding Common Stock. Such recommendations must include the name and credentials of the recommended nominee and should be submitted to our Corporate Secretary at our address included in this Proxy Statement. The Nominating and Corporate Governance Committee will evaluate director candidates recommended by stockholders for election to our Board in the same manner and using the same criteria as used for any other director candidate (as described below). If the Nominating and Corporate Governance Committee determines that a stockholder-recommended candidate is suitable for membership on our Board, it will include the candidate in the pool of candidates to be considered for nomination upon the occurrence of the next vacancy on our Board or in connection with the next annual meeting of stockholders.

Evaluation of Director Nominees

While the Nominating and Corporate Governance Committee has no specific minimum qualifications in evaluating a director candidate, it takes into account all factors it considers appropriate in identifying and evaluating candidates for membership on our Board, including some or all of the following: strength of character, an inquiring and independent mind, practical wisdom, mature judgment, career specialization, relevant industry experience, relevant technical skills, reputation in the community, diversity and the extent to which the candidate would fill a present need on the Board. The Nominating and Corporate Governance Committee makes recommendations to the full Board as to whether or not incumbent directors should stand for re-election. However, if we are legally required by contract or otherwise to provide third parties with the ability to nominate directors, the Nominating and Corporate Governance Committee may adjust its evaluation process for the designated candidates to reflect our contractual obligations with respect to their nomination. The Nominating and Corporate Governance Committee conducts all necessary and appropriate inquiries into the background and qualifications of possible candidates and may engage a search firm to assist in identifying potential candidates for nomination.

 

(8)

For 2019, represents the change in the present value of the life annuity from the end of fiscal year 2018 to the end of fiscal year 2019 for the Executive Supplemental Benefit Plan and the Pension Restoration Plan with respect to Mr. Sando. The actual change in the present values is as follows: $1,270,266 under the Executive Supplemental Benefit Plan and $26,594 under the Pension Restoration Plan. The amounts in this column do not include earnings under the Deferred Compensation Plan as such earnings were neither above-market nor preferential. See the Pension Benefits table below under “Pension Benefits for 2019” for assumptions used in calculating these amounts.

 

(9)

Amounts included in all other compensation consist of the amounts shown in the table below paid by the Company in 2019 for each NEO.

Named Executive Officer

 

Life

Insurance

Premiums

($)

  HSA
Employer
Contribution
  

401(k)

Matching

Contributions

($)

  

Amounts Deferred

under the Deferred

Compensation

Plan

($)

  

Total

($)

 

Frank D. Martell

  5,016      8,400   49,079   62,495 

James L. Balas

  1,710      8,400   19,333   29,443 

Barry M. Sando

  14,106   300   8,400   23,775   46,581 

Francis Aaron Henry

  12      1,096      1,108 

Arnold A. Pinkston

  3,396            3,396 

Grants of Plan-Based Awards for 2019

The following table sets forth information on awards made to each of the NEOs under the ICP and the 2018 Plan during 2019.

Strategic Planning and Acquisition Committee

 

          Estimated Future
Payouts
Under Non-Equity
Incentive Plan
Awards (1)
  Estimated Future
Payouts
Under Equity
Incentive Plan
Awards (2)
   Grant
Date Fair
Value of
Stock &
Option
 

Name

  

Approval

Date

   

Grant

Date

  

Threshold

($)

  

Target

($)

  

Maximum

($)

  

Threshold

(#)

  

Target

(#)

  

Maximum

(#)

   

Awards

(3)($)

 

 

Frank D. Martell

 

 

 

2019 ICP Award

 

           

 

 

 

 

420,750

 

 

 

 

 

 

 

 

 

1,237,500

 

 

 

 

 

 

 

 

 

2,475,000

 

 

 

 

                 

 

RSUs

 

  

 

 

 

 

2/18/2019

 

 

 

 

  

 

 

 

 

3/1/2019

 

 

 

 

                 

 

 

 

 

52,659

 

 

 

 

      

 

 

 

 

1,979,978

 

 

 

 

 

PBRSUs

 

  

 

 

 

 

2/18/2019

 

 

 

 

  

 

 

 

 

3/1/2019

 

 

 

 

             

 

 

 

 

26,330

 

 

 

 

 

 

 

 

 

52,659

 

 

 

 

 

 

 

 

 

105,318

 

 

 

 

  

 

 

 

 

1,979,978

 

 

 

 

 

James Balas

 

 

 

2019 ICP Award

 

           

 

 

 

 

161,500

 

 

 

 

 

 

 

 

 

475,000

 

 

 

 

 

 

 

 

 

950,000

 

 

 

 

                 

 

RSUs

 

  

 

 

 

 

2/18/2019

 

 

 

 

  

 

 

 

 

3/1/2019

 

 

 

 

                 

 

 

 

 

12,632

 

 

 

 

      

 

 

 

 

474,963

 

 

 

 

 

PBRSUs

 

  

 

 

 

 

2/18/2019

 

 

 

 

  

 

 

 

 

3/1/2019

 

 

 

 

             

 

 

 

 

6,316

 

 

 

 

 

 

 

 

 

12,632

 

 

 

 

 

 

 

 

 

25,264

 

 

 

 

  

 

 

 

 

474,963

 

 

 

 

 

Barry M. Sando

 

 

 

2019 ICP Award

 

           

 

 

 

 

187,000

 

 

 

 

 

 

 

 

 

550,000

 

 

 

 

 

 

 

 

 

1,100,000

 

 

 

 

                 

 

RSUs

 

  

 

 

 

 

2/18/2019

 

 

 

 

  

 

 

 

 

3/1/2019

 

 

 

 

                 

 

 

 

 

14,627

 

 

 

 

      

 

 

 

 

549,975

 

 

 

 

 

PBRSUs

 

  

 

 

 

 

2/18/2019

 

 

 

 

  

 

 

 

 

3/1/2019

 

 

 

 

             

 

 

 

 

7,314

 

 

 

 

 

 

 

 

 

14,627

 

 

 

 

 

 

 

 

 

29,254

 

 

 

 

  

 

 

 

 

549,975

 

 

 

 

 

Francis Aaron Henry

 

 

 

A30 Award (4)

 

  

 

 

 

 

10/30/2019

 

 

 

 

  

 

 

 

 

12/20/2019

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

5,558

 

 

 

 

 

 

 

 

 

11,116

 

 

 

 

 

 

 

 

 

22,232

 

 

 

 

  

 

 

 

 

474,987

 

 

 

 

 

Arnold A. Pinkston (5)

 

 

 

2019 ICP Award

 

           

 

 

 

 

122,400

 

 

 

 

 

 

 

 

 

360,000

 

 

 

 

 

 

 

 

 

720,000

 

 

 

 

                 

 

RSUs

 

  

 

 

 

 

2/18/2019

 

 

 

 

  

 

 

 

 

3/1/2019

 

 

 

 

                 

 

 

 

 

11,968

 

 

 

 

      

 

 

 

 

449,997

 

 

 

 

 

PBRSUs

 

  

 

 

 

 

2/18/2019

 

 

 

 

  

 

 

 

 

3/1/2019

 

 

 

 

             

 

 

 

 

5,984

 

 

 

 

 

 

 

 

 

11,968

 

 

 

 

 

 

 

 

 

23,936

 

 

 

 

  

 

 

 

 

449,997

 

 

 

 

MembersCommittee Functions

John C. Dorman, Chairman

Douglas C. Curling

Paul F. Folino

Frank D. Martell

Claudia Fan Munce

•  formulating, monitoring and revising a strategic plan for the Company, as well as product and business strategies;

 

(1)

At threshold performance, a NEO would receive 34% of the target award amount and at maximum performance, a NEO would receive 200% of the target award amount. The actual incentive award earned by each NEO is reported in the 2019 Summary Compensation Table.

(2)

Equity awards in 2019 consisted of RSUs and PBRSUs granted as part of the 2019 long-term incentive compensation program and a separate A30 Award of PBRSUs that was granted to Mr. Henry. The RSUs are tied to achievement of at least $62.5 million in 2019 adjusted net income. For the RSUs, if as was the case, the adjusted net income performance target is met, the shares vest in three equal installments on the first three anniversaries of the grant date. In the case of the PBRSUs (other than the A30 Award), 100% of each award is tied to achievement of certain adjustedearnings-per-share targets over a three-year performance period consisting of the 2019-2021 fiscal years, subject to modification based on our relative total stockholder return achieved during the performance period. The PBRSUs that were earned in 2019 based on 2019 adjusted EPS performance and relative total stockholder return will vest and be payable to the NEOs subject to their continued employment through December 31, 2021.

(3)

These amounts represent the aggregate grant date fair value of each award determined pursuant to Financial Accounting Standards Board’s Accounting Standards Codification Topic 718, Compensation-Stock Compensation. For the assumptions and methodologies used to value these awards, see footnote (5) to the 2019 Summary Compensation Table above.

(4)

PBRSUs were granted as a specialone-time A30 Award to Mr. Henry on December 20, 2019 and remain subject to the achievement of certain performance measures. The PBRSUs vest, if at all, based on achievement ofpre-determined 2020 adjusted EBITDA margin targets.

(5)

Mr. Pinkston’s awards were forfeited upon his resignation from the Company in June 2019.•  considering market and industry trends that could impact the Company’s strategic plans;

Employment AgreementsVikrant Raina

Effective March 6, 2017, we entered into a new employment agreementDavid F. Walker

Meetings in 2019: three

•  ensuring the Board is presented with Mr. Martell, which supersededall necessary and desirable information and advice to assess, review, challenge and approve the prior agreementCompany’s strategic plan;

•  reviewing acquisition strategies and amendments thereto. On April 8, 2016, we entered into an employment agreementacquisition candidates with Mr. Balas. In May 2011, we entered into an employment agreement with Mr. Sando,the Company’s management;

•  recommending acquisition strategies and candidates to the Board, as amended June 16, 2014appropriate; and October 6, 2014. Effective November 4, 2019, we entered into an employment agreement with Mr. Henry. In June 2019, Mr. Pinkston left

•  overseeing and approving certain investment, merger, acquisition and divestiture transactions proposed by the CompanyCompany’s management within the size and as such his employment agreement was terminated. The material termsother limitations delegated by the Board from time to time.

Board Meetings and Attendance

Our Board held six meetings during 2019 and our non-management directors also met six times in executive session without management present. Each director attended 75% or more of the total number of meetings of the Board and meetings of the committees (if any) on which the director served during his or her respective tenure on the Board during 2019. From time to time, our Board and committees also act by unanimous written consent as permitted by our Bylaws and the Delaware General Corporation Law (the “DGCL”).

Director Attendance at Annual Meetings

We encourage our directors to attend the annual meetings of our stockholders, either in person or telephonically. All directors attended the 2020 Annual Meeting (with the exception of Ms. Patenaude, who was appointed to the Board in June 2020, after the 2020 Annual Meeting).

Compensation Committee Interlocks and Insider Participation

Messrs. Chatham (Chair), Folino, O’Brien and Mmes. Munce and Studenmund served on the Compensation Committee during 2019. No person who served as a member of the Compensation Committee during 2019 was or is an officer or employee of the Company. No executive officer of the Company serves or served as a director or member of the compensation committee of another company who employed or employs any member of the Company’s Compensation Committee or the Board.

Board Leadership Structure

The offices of Chief Executive Officer and Chairman are separate. Mr. Folino has served as Chairman of our Board since July 2014. Our Board believes that the separation of the offices of Chairman and Chief Executive Officer continues to be appropriate as it allows our Chief Executive Officer to focus primarily on his management responsibilities and the Chairman to oversee and manage the Board and its functions. Having an independent Chairman promotes the independence of our Board and provides appropriate oversight of management and ensures free and open discussion and communication among the non-management members of our Board. The Chairman also chairs and coordinates the agenda for executive sessions of the non-management directors.

Our Corporate Governance Guidelines provide that the Board shall annually elect a lead director by a majority vote of the independent directors unless the Chairperson of the Board is an independent director, in which case the Chairperson of the Board will perform the functions of a lead director and no lead director shall be elected. Mr. Folino, an independent director, is the Chairman and, as a result, we do not currently have a lead director.

Director Education

Directors are strongly encouraged to attend educational seminars regarding the Company’s business, corporate governance and other issues pertaining to their directorship. We also provide the Board with educational training from time-to-time on subjects applicable to the Board and the Company, including with regard to industry and regulatory developments, accounting, financial reporting, and corporate governance, using both internal and external resources.

Succession Planning

Among the Compensation Committee’s responsibilities described in its charter is to oversee development and succession planning for executive officers, and the Compensation Committee also oversees this for other key members of senior management. The Board plans for succession of the Chief Executive Officer and periodically reviews senior management selection and succession planning that is undertaken by the Compensation Committee. As part of this process, the non-management directors annually review the Compensation Committee’s recommended candidates for senior management positions to see that qualified candidates are available for all positions and that development plans are being utilized to strengthen the skills and qualifications of the candidates. The criteria used when assessing the qualifications of potential Chief Executive Officer successors include, among others, strategic vision and leadership, operational excellence, financial management, executive officer leadership development, ability to motivate employees, and an ability to develop an effective working relationship with the Board.

Risk Oversight

Full Board

To maximize long-term stockholder value, the Board’s responsibilities in overseeing our businesses include oversight of our key risks and management’s processes and controls to regulate them appropriately. Our management, in turn, is responsible for the day-to-day management of risk and implementation of appropriate risk management controls and procedures. Although risk oversight permeates many elements of the currently active employment agreements,work of the full Board, the Board has delegated to certain committees specific risk oversight matters.

Audit Committee

The Audit Committee has the most direct and systematic responsibility for overseeing risk management. The Audit Committee charter provides for a variety of regular and recurring responsibilities relating to risk, including:

•  having responsibility for the internal audit function, with that function having a direct line of communication to the Audit Committee;

•  receiving reports from management and the internal audit function regarding the adequacy and effectiveness of various internal controls;

•  reviewing periodically with internal counsel legal and regulatory matters that could have a significant impact on us and could indicate emerging areas of risk;

•  overseeing accounting and risk management processes, including receiving regular reports from our Chief Legal Officer; and

Compensation Committee

The Compensation Committee oversees our compensation policies and practices and has assessed whether our compensation policies encourage excessive risk-taking. The Compensation Committee has concluded that these policies and practices are not reasonably likely to have a material adverse effect on us. In arriving at that conclusion, the Compensation Committee considered, among other factors:

•  the metrics used to determine variable compensation;

•  the portion of variable compensation paid in equity, which is either time-vested or tied to the achievement of long-term Company objectives;

•  the amount of compensation paid as sales commissions and the number of people to whom such compensation is paid; and

•  controls, such as pricing limits, a recoupment policy and financial reconciliation processes for sales crediting, quality checks that we employ and

•  discussing with management our guidelines and policies with respect to risk assessment and enterprise risk management, including our major risk exposures and the steps management has taken to monitor and control such exposures.

In performing these functions, the Audit Committee regularly receives reports from management (including the Chief Executive Officer, the Chief Financial Officer, the Controller and the Chief Legal Officer) and internal auditors regarding our risk management program (which incorporates our compliance, information and cyber security, and business continuity programs), extraordinary claims and losses, and significant litigation. The Board receives updates on risk oversight from the Audit Committee and members of management.

the approval process for certain compensation-related activities.

Retention of Outside Advisors

The Board and all of its committees have authority to retain outside advisors and consultants that they consider necessary or appropriate in carrying out their respective responsibilities. The independent accountants are retained by, and report directly to, the Audit Committee. In addition, the Audit Committee is responsible for the selection, assessment, and termination of the internal auditors to which we have outsourced our internal audit function. Similarly, the consultant retained by the Compensation Committee to assist in the evaluation of senior executive compensation reports directly to that committee.

Code of Conduct

The Board has adopted a Code of Conduct (the “Code”) that applies to all employees, including our directors, Chief Executive Officer, Chief Financial Officer, Controller, and persons performing similar functions, which has been posted under “Investors-Leadership & Governance-Highlights” on our website www.corelogic.com. If we waive or amend any provisions of the Code that apply to our directors and executive officers, including our Chief Executive Officer, Chief Financial Officer, Controller and persons performing similar functions, we will disclose such waivers or amendments on our website, at the address and location specified above, to the extent required by applicable SEC and NYSE rules.

Corporate Governance Guidelines

The Board has adopted Corporate Governance Guidelines which have been posted under “Investors-Leadership & Governance-Highlights” on our website www.corelogic.com. In addition to stating the standards that the Board applies in determining whether or not its members are independent, these guidelines address, among other items, the qualifications and responsibilities of our directors and describe fundamental aspects of our Board and certain of its committees.

Director Overboarding Policy

Our Corporate Governance Guidelines provide that our directors may not serve on more than five public company boards (including our Board), and our Audit Committee members may not serve on more than three public company audit committees (including our Audit Committee), in each case, without prior Board approval. In each case, in determining whether to grant such approval, the Board will consider the director’s ability to devote sufficient time to the activities of the Board and/or Audit Committee and the director’s qualifications and contribution, or potential contribution, to the Board and/or Audit Committee. As of the date of this Proxy Statement, all of our directors are in compliance with the overboarding policy.

Board and Committee Evaluations

To increase their effectiveness, the Board and each of its committees perform an annual self-evaluation under the direction of the Nominating and Corporate Governance Committee. The evaluation addresses, among other items, attendance, preparedness, participation, candor and other measures of performance selected by the Board.

Communicating with Directors

Stockholders and other interested parties may communicate directly with members of the Board, including the Chairman of the Board or any of the other non-management directors of our Company (individually or as a group), by writing to such director(s) at:

CoreLogic, Inc.

c/o Chief Legal Officer and Secretary

40 Pacifica, Suite 900

Irvine, California 92618

Our Corporate Secretary reviews and promptly forwards communications to the directors, as appropriate. Communications involving substantive accounting or auditing matters are forwarded to the Chair of the Audit Committee. Certain items that are unrelated to the duties and responsibilities of the Board will not be forwarded such as: business solicitation or advertisements; product- or service-related inquires; junk mail or mass mailings; resumes or other job-related inquires; and spam and inappropriately hostile, threatening, potentially illegal or similarly unsuitable communications. Directors receiving communications will respond as such directors deem appropriate, including the possibility of referring the matter to management of our Company, to the full Board or to an appropriate committee of the Board.

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS

Security Ownership of Directors and Management

The following table sets forth the total number of shares of our Common Stock beneficially owned and the percentage of the shares so owned as of September 4, 2020 by:

each director;

each executive officer named in the “Summary Compensation Table”; and

all directors and current executive officers as a group.

Unless otherwise indicated in the notes following the table, the persons listed in the table below are the beneficial owners of the listed shares with sole voting and investment power (or, where applicable, shared power with such individual’s spouse and subject to community property laws) over the shares listed. Shares vesting or subject to rights exercisable within 60 days after September 4, 2020 are treated as outstanding in determining the amount and percentage beneficially owned by a person or entity.

Stockholders

  Number of
shares of
Common Stock
   Percent
if greater than 1%
 

Directors

    

J. David Chatham

   31,181    —   

Douglas C. Curling

   35,871    —   

John C. Dorman

   11,763    —   

Paul F. Folino

   5,910    —   

Frank D. Martell

   429,996    —   

Claudia Fan Munce

   8,921    —   

Thomas C. O’Brien

   32,016    —   

Pamela Patenaude

   —      —   

Vikrant Raina

   11,403    —   

J. Michael Shepherd

   3,458    —   

Jaynie Miller Studenmund

   31,066    —   

David F. Walker

   43,238    —   

Current Named Executive Officers (“NEOs”) who are not directors

    

James L. Balas

   65,933    —   

Barry M. Sando

   189,857    —   

Francis Aaron Henry

   594    —   

All directors and current executive officers as a group (15 persons)

   901,207    1.1

Principal Stockholders

The following table sets forth information regarding the ownership of our Common Stock by the persons or groups of stockholders who are known to us to be the beneficial owners of more than 5% of our shares of Common Stock as of September 4, 2020 (using the number of shares outstanding on this date for calculating the percentage). The information regarding beneficial owners of more than 5% of our shares of Common Stock is based solely on public filings made by such owners with the SEC.

Name of Beneficial Owner

  Amount and
Nature of
Beneficial
Ownership
   Percent of
Class
 

Senator Investment Group LP and Cannae Holdings, Inc.(1)

   7,941,190    10.0

The Vanguard Group(2)

   7,476,465    9.4

BlackRock, Inc.(3)

   6,777,819    8.5

(1)

According to the Senator and Cannae 13D, Senator Investment Group LP and Cannae Holdings, Inc., reporting on behalf of certain related subsidiaries, have shared voting power and shared dispositive power with respect to 7,941,190 shares, consisting of 6,506,190 shares of Common Stock and total return swaps and over-the-counter forward purchase contracts referencing 1,435,000 shares of Common Stock. The address of the principal business office of the reporting entities are, substantially similar in form, arefor Senator, 510 Madison Avenue, 28th Floor, New York, New York 10022 and, for Cannae, 1701 Village Center Circle, Las Vegas, Nevada 89134.

(2)

Share count is based on a Form 13F-HR filed August 14, 2020, reporting beneficial ownership as follows:

Term:One-year term throughof June 30, 2020. According to a Schedule 13G/A filed February 12, 2020, as of December 31, 2019, these securities are owned by The Vanguard Group and two wholly-owned subsidiaries, Vanguard Fiduciary Trust Company (“VFTC”) and Vanguard Investments Australia, Ltd. (“VIA”), as investment managers of each calendar year,collective trust accounts and Australian investment offerings, respectively. The Schedule 13G/A reports that VFTC is the beneficial owner of 31,260 shares and VIA is the beneficial owner of 27,977 shares. The Vanguard Group is a registered investment adviser and has sole voting power with automatic renewal for an additional year unless either party provides 60 days prior written notice before the expirationrespect to 41,025 shares, shared voting power with respect to 18,212 shares, sole dispositive power with respect to 7,578,725 shares and shared dispositive power with respect to 49,472 shares. The address of the current term. Neither partyprincipal business office of the reporting entity is 100 Vanguard Boulevard, Malvern, Pennsylvania 19355.

(3)

Share count is based on a Form 13F-HR filed August 14, 2020, reporting beneficial ownership as of June 30, 2020. According to the NEO employment agreements provided such notice in 2019, and accordingly the terma Schedule 13G/A filed February 5, 2020, as of each automatically extended through December 31, 2020.

Pay:Sets initial base salary at current salary at2019, BlackRock, Inc. is a parent holding company with sole voting power with respect to 6,749,137 shares and sole dispositive power with respect to 7,068,840 shares, reporting on behalf of certain related subsidiaries. The address of the timeprincipal business office of the agreementreporting entity is 55 East 52nd Street, New York, New York 10055.

CERTAIN AGREEMENTS

Equity awards are currently issued under the 2018 Performance Incentive Plan, which was approved by our stockholders at our annual meeting held in May 2018. Prior to the approval of the 2018 Performance Incentive Plan, we issued share-based awards under the 2011 Performance Incentive Plan, as amended. The 2011 Performance Incentive Plan and 2018 Performance Incentive Plan do not include an automatic “single trigger” change in control vesting provision. Instead, both plans include a change in control provision where automatic accelerated vesting of an award in connection with a change in control will only occur if an acquirer or successor to us fails to assume or continue the awards or the awards otherwise do not survive the transaction. Additionally, award agreements include “double-trigger” severance protections and provide for accelerated vesting of awards that remain outstanding following a change in control transaction in the event of a termination without cause following a change in control.

The Company’s Amended and Restated Deferred Compensation Plan (the “DCP”) generally provides for accelerated vesting of awards or benefits, as the case may be, in the event of a change in control of the Company. In addition, the Company’s Executive Supplemental Benefit Plan (the “Executive Supplemental Plan”) provides that when a participant incurs an involuntary separation from service without good cause subsequent to a change in control, payment of benefits will commence in the same manner and in the same amount as if the participant had attained his or her normal retirement age on the date of termination.

In addition to the plan and award agreement provisions described above, we have entered into a change in control agreement (a “Change in Control Agreement”) with each of our NEOs. Under the Change in Control Agreement, a “change in control” means the consummation of any one of the following:

a merger or consolidation of the Company in which our stockholders end up owning less than 50% of the voting securities of the surviving entity;

the sale, transfer or other disposition of all or substantially all of our assets or the complete liquidation or dissolution of the Company;

a change in the composition of our Board over a two-year period as a result of which fewer than a majority of the directors are incumbent directors, as defined in the agreement; or

the acquisition or accumulation by any person or group, subject to certain limited exceptions, of at least 30% of our voting securities.

If the termination of the NEO’s employment occurs without cause or if the NEO terminates his employment for good reason within the twenty-four-month period following a change in control, we will pay the following benefits in one lump sum in the month following the month in which the date of the termination occurs:

the NEO’s base salary through and including the date of termination and any accrued but unpaid annual incentive bonus;

between two and three times the NEO’s target annual cash bonus amount established for the fiscal year in which the termination occurs; and

between two and three times the NEO’s annual base salary in effect immediately prior to the date of termination

Furthermore, under each Change in Control Agreement, for a period ranging from twenty-four to thirty-six months and subject to the covered NEO’s continued payment of the same percentage of the applicable premiums as the NEO was paying immediately prior to the date of termination or, if more favorable to the NEO, at the time at which the change in control occurred, we will provide medical and dental coverage pursuant to the Consolidated Omnibus Budget Reconciliation Act (COBRA) for the NEO (and if applicable, the NEO’s dependents). To the extent that the NEO cannot participate in the plans previously available, we will provide such benefits on the same after-tax basis as if they had been available. These obligations are reduced by any welfare benefits made available to the NEO from subsequent employers.

The Change in Control Agreement provides that if any excise tax imposed by Section 4999 of the Tax Code (or any similar tax), applies to the payments, benefits or other amounts payable under the agreement or otherwise, including without limitation, any acceleration of the vesting of outstanding stock options, restricted stock or performance shares (collectively, the “Total Payments”), then the Total Payments will be reduced (but not below zero) so that the maximum amount of the Total Payments (after reduction) will be $1.00 less than the amount which would cause the Total Payments to be subject to the excise tax; provided that such reduction to the Total Payments will be made only if the after-tax benefit to the NEO is greater after giving effect to such reduction than if no such reduction had been made. This type of provision is often referred to as a “modified cut-back,” and is included because the Change in Control Agreement does not provide for any type of “gross up” or similar benefit.

The Change in Control Agreement had an initial term through December 31, 2011 and is automatically extended for additional one-year periods unless either party notifies the other not later than the preceding January 1 that it does not wish to extend the term for an additional year. All agreements with current NEOs have since been extended through December 31, 2020. For a description of the calculations and further explanation of the payments due to the NEO upon termination of employment and/or a change in control, see the sections of this proxy entitled “Potential Payments upon Termination or Change in Control.”

POTENTIAL PAYMENTS UPON TERMINATION OR CHANGE IN CONTROL

The following table describes payments and other benefits that would be provided to certain of our NEOs under the specified circumstances upon a change in control of us or their termination, assuming a termination or change in control occurred on August 31, 2020. For further discussion, see the section of this Proxy Statement entitled “Change in Control Agreements” above.

Name

 

Trigger

  Severance  Bonus  Value of RSU
Acceleration(6)
  Value of
PBRSU
Acceleration(7)
  Deferred
Compensation(8)
  Vested
Pension
Plan(11),(12)
  Benefit
Continuation
  Total 

Frank Martell

 Voluntary Resignation   —     —     —     —     3,702,639   —     —     3,702,639 
 Termination For Cause   —     —     —     —     3,702,639   —     —     3,702,639 
 Termination Without Cause / For Good Reason   4,500,000(2)   902,466(4)   6,370,584   —     3,702,639   —     33,792(9)   15,509,480 
 Change in Control with Termination Good Reason / Without Cause(1)   6,750,000(3)   902,466(5)   6,370,584   9,365,700   3,702,639   —     44,946(10)   27,136,335 
 Death   —     902,466   6,370,584   9,365,700   3,702,639   —     —     20,341,388 
 Disability   —     902,466   6,370,584   9,365,700   3,702,639   —     —     20,341,388 

James Balas

 Voluntary Resignation   —     —     —     —     1,693,614   —     —     1,693,614 
 Termination For Cause    —     —     —     1,693,614   —     —     1,693,614 
 Termination Without Cause   950,000(2)   317,534(4)   1,523,508   —     1,693,614   —     25,157(9)   4,509,814 
 Change in Control with Termination Good Reason / Without Cause(1)   1,900,000(3)   317,534(5)   1,523,508   2,842,933   1,693,614   —     45,299(10)   8,322,889 
 Death   —     317,534   1,523,508   2,842,933   1,693,614   —     —     6,377,590 
 Disability   —     317,534   1,523,508   2,842,933   1,693,614   —     —     6,377,590 

Barry M. Sando

 Voluntary Resignation   —     —     —     —     1,655,106   7,900,117   —     9,555,223 
 Termination For Cause   —     —     —     —     1,655,106   7,900,117   —     9,555,223 
 Termination Without Cause   2,200,000(2)   367,671(4)   1,683,405   —     1,655,106   7,900,117   33,792(9)   13,840,891 
 Change in Control with Termination Good Reason / Without Cause(1)   3,300,000(3)   367,671(5)   1,683,405   3,277,837   1,655,106   8,390,342(13)   44,946(10)   18,719,308 
 Death   —     367,671   1,683,405   3,277,837   1,655,106   3,868,368(14)   —     10,852,388 
 Disability   —     367,671   1,683,405   3,277,837   1,655,106   7,900,117   —     14,884,137 

Name

 

Trigger

  Severance  Bonus  Value of RSU
Acceleration(6)
  Value of
PBRSU
Acceleration(7)
  Deferred
Compensation(8)
  Vested
Pension
Plan(11),(12)
  Benefit
Continuation
  Total 

Francis Aaron Henry

 Voluntary Resignation                         
 Termination For Cause                         
 Termination Without Cause   950,000(2)   317,534(4)   656,131            2,024(9)   1,925,689 
 Change in Control with Termination Good Reason / Without Cause(1)   1,900,000(3)   317,534(5)   656,131   1,401,240         2,725(10)   4,277,630 
 Death      317,534   656,131   1,401,240            2,374,905 
 Disability      317,534   656,131   1,401,240            2,374,905 

(1)

In accordance with SEC rules, an excise tax calculation is not presented in this table as we do not provide a gross-up or amended and provides that base salary will be reviewed annually andtax reimbursement to our NEOs in connection with a change in control. Amounts payable in the event of a change in control may be increased (but not decreased) duringsubject to reduction under Sections 280G and 4999 of the term at our discretion.Tax Code.

(2)

Severance:Provides for severance pay if the NEO is terminated without “cause” as defined in the employment agreement. The severanceRepresents an amount isequal to a multiple of annualized base pay and target annual bonus. For Messrs. Martell and Sando,salary in effect on the multiple is date employment terminates (the “Severance Date”)—two and COBRA reimbursement is provided for 24 months. For Messrs. Balas and Henry, the multiple is one and COBRA reimbursement is provided for 12 months. The NEOs are also entitled to receive payment of apro-rata portion of any annual bonus actually earned based on performance that they would have otherwise received had their employment not terminated.

Severance Payment Timing:Severance will be paid in installments as follows:

Messrs. Martell and Sando—First payment is made in the seventh month after separation of employment and is 7/24th of the total severance and equal installments thereafter for the remainder;

Messrs. Balas and Henry—First payment is made in the seventh month after separation of employment and is 7/12th of the total severance and equal installments thereafter for the remainder.

Release of Liability:The employment agreement requires the NEO to sign a release in exchange for severance. Moreover, the NEOs are covered by restrictive covenants such as indefinite confidentiality, cooperation in litigation andnon-competition (for a period of 24 months post-termination,times annualized base salary in the case of Messrs. Martell and Sando, or for a period of 12 months post-termination,Sando; one-time annualized base salary in the case of Mr. Balas; Mr.Messrs. Balas and Henry, is not subject to a non-competition covenant).

Claw-backs:The employment agreement provides thatplus (ii) the agreement is subject to “claw-back” under applicable law or under our claw-back policysame multiple of target annual incentive compensation program amount in effect from timeon the Severance Date (the “Severance Benefit”). The Severance Benefit will be payable in a lump sum equal to time. We adopted such a recoupment or “claw-back” policy in March 2012 as further described in “Compensation Discussion7/24 (7/12 for Messrs. Balas and Analysis—Adjustment or Recovery of Awards (Claw-backs)”.

Outstanding Equity Awards at FiscalYear-End for 2019

The following table shows outstanding equity awards held by our NEOs as of December 31, 2019, other than Mr. Pinkston who left the Company in June 2019 and did not hold any outstanding equity awards on December 31, 2019.

  Option Awards  Stock Awards 

Name

 

Number of

Securities

Underlying

Unexercised

Options

Exercisable

(#)

  

Number of

Securities

Underlying

Unexercised

Options

Unexercisable

(#)

  

Option

Exercise

Price

($)

  

Option

Expiration

Date (1)

  

Number of

Shares or

Units of

Stock

That Have

Not

Vested

(#)

  

Market

Value of

Shares or

Units of

Stock

That

Have Not

Vested (2)

($)

  

Equity

Incentive

Plan

Awards:

Number of

Unearned

Shares,

Units or

Other

Rights

That Have

Not Vested

(#)

  

Equity

Incentive

Plan

Awards:

Market or

Payout Value

of Unearned

Shares, Units

or Other

Rights That

Have Not

Vested

($)

 

Frank D. Martell

 

                            
   116,298       11.35   8/29/2021                 
   63,870       15.50   3/1/2022                 
   38,150       25.95   2/26/2023                 
   20,313       32.49   3/2/2024                 
                   13,807 (3)   603,504         
                   54,442 (4)   2,379,660         
                   27,131 (5)   1,185,896         
                   44,837 (6)   1,959,825         
                   52,659 (7)   2,301,725         
                   23,695 (8)   1,035,708.45         
                           8,140 (9)   355,799.4 
                           36,862 (10)   1,611,238.02 

James L. Balas

                                
   8,441       15.50   3/1/2022                 
   7,803       25.95   2/26/2023                 
   3,693       32.49   3/2/2024                 
                   3,615 (3)   158,012         
                   14,252 (4)   622,955         
                   6,590 (5)   288,049         
                   10,889 (6)   475,958         
                   12,632 (7)   552,145         
                   5,683 (8)   248,404         
                           1,978 (9)   86,458.38 
                           8,843 (10)   386,527.53 
                           8,884 (11)   388,319.64 

  Option Awards  Stock Awards 

Name

 

Number of

Securities

Underlying

Unexercised

Options

Exercisable

(#)

  

Number of

Securities

Underlying

Unexercised

Options

Unexercisable

(#)

  

Option

Exercise

Price

($)

  

Option

Expiration

Date (1)

  

Number of

Shares or

Units of

Stock

That Have

Not

Vested

(#)

  

Market

Value of

Shares or

Units of

Stock

That

Have Not

Vested (2)

($)

  

Equity

Incentive

Plan

Awards:

Number of

Unearned

Shares,

Units or

Other

Rights

That Have

Not Vested

(#)

  

Equity

Incentive

Plan

Awards:

Market or

Payout Value

of Unearned

Shares, Units

or Other

Rights That

Have Not

Vested

($)

 

Barry M. Sando

 

                            
   8,701       17.24   3/15/2021                 
   22,532       15.50   3/1/2022                 
   26,011       25.95   2/26/2023                 
   18,467       32.49   3/2/2024                 
                   4,678 (3)   204,475         
                   18,445 (4)   806,231         
                   8,055 (5)   352,084         
                   13,310 (6)   581,780         
                   14,627 (7)   639,346         
                   6,582 (8)   287,699         
                           2,417 (9)   105,647.07 
                           10,239 (10)   447,546.69 
                           10,858 (11)   474,603.18 

Francis Arron Henry

 

                            
                           11,116 (11)   485,880.36 

(1)

The stock options disclosed in this table have aten-year term. As of December 31, 2019, all stock options were fully vested.

(2)

Represents the value of unvested RSUs based on closing stock price on December 31, 2019 of $43.71.

(3)

These RSUs represent the unvested portion of RSUs that were granted to the NEOs on February 28, 2017 and, for Mr. Martell, also on March 14, 2017, which were subject to (i) the achievement of adjusted net income of $57.5 million for 2017 and (ii) time vesting in three equal annual installments on the first, second and third anniversaries of the grant date. We achieved the $57.5 million performance measure for 2017.

(4)

These PBRSUs represent the portion of the PBRSUs that were granted to the NEOs on February 28, 2017 and, for Mr. Martell, also on March 14, 2017, and vest based upon our achievement of certain performance measures and continued employment through December 31, 2019. The amount set forth in this column represents the actual number of units that are subject to the time vesting requirement based on our achievement of adjusted EPS in 2017, 2018 and 2019.

(5)

These RSUs represent the unvested portion of RSUs that were granted to the NEOs on March 1, 2018, which were subject to (i) the achievement of adjusted net income of $62.5 million for 2018 and (ii) time vesting in three equal annual installments on the first, second and third anniversaries of the grant date. We achieved the $62.5 million performance measure for 2018.

(6)

These PBRSUs represent the portion of the PBRSUs that were granted to the NEOs on March 1, 2018, and vest based upon our achievement of certain performance measures and continued employment through December 31, 2020. The amount set forth in this column represents the actual number of units that are subject to the time vesting requirement based on our achievement of adjusted EPS in 2018 and 2019.

(7)

These RSUs represent the unvested portion of RSUs that were granted to the NEOs on March 1, 2019, which were subject to (i) the achievement of adjusted net income of $62.5 million for 2019 and (ii) time vesting in three equal annual installments on the first, second and third anniversaries of the grant date. We achieved the $62.5 million performance measure for 2019.

(8)

These PBRSUs represent the portion of the PBRSUs that were granted to the NEOs on March 1, 2019, and vest based upon our achievement of certain performance measures and continued employment through December 31, 2021. The amount set forth in this column represents the actual number of units that are subject to the time vesting requirement based on our achievement of adjusted EPS in 2019.

(9)

These PBRSUs represent the portion of the PBRSUs that were granted to the NEOs on March 1, 2018, that remain subject to our achievement of certain performance measures. The amount set forth in this column represents the estimated future payout of PBRSUs

assuming the target performance goals have been achieved. The PBRSUs vest based on the degree of achievement of certain adjusted EPS goals over a three-year performance period (2018, 2019 and 2020).

(10)

These PBRSUs represent the portion of the PBRSUs that were granted to the NEOs on March 1, 2019, that remain subject to our achievement of certain performance measures. The amount set forth in this column represents the estimated future payout of PBRSUs assuming the target performance goals have been achieved. The PBRSUs vest based on the degree of achievement of certain adjusted EPS goals over a three-year performance period (2019, 2020 and 2021). See “Compensation Discussion and Analysis-Long-Term Incentives” above for detailed discussion.

(11)

These PBRSUs were granted as a specialone-time A30 Award to Mr. Balas and Mr. Sando on September 20, 2018 and to Mr. Henry on December 20, 2019 and remain subject to the achievement of certain performance measures. The amount set forth in this column represents the estimated future payout of the A30 Awards assuming the target performance goal of 30% adjusted EBITDA margin has been achieved. The PBRSUs vest, if at all, based on achievement ofpre-determined 2020 adjusted EBITDA margin targets.

Option Exercises and Stock Vested for 2019

The following table sets forth information concerning value realized by eachHenry) of the NEOs upon exercise of stock options and vesting of other stock awards during 2019.

   Option Awards   Stock Awards 

 Name

  

Number of

Shares Acquired

on Exercise

(#)

   

Value Realized

on Exercise

($) (1)

   

Number of

Shares Acquired

on Vesting

(#)

   

Value Realized

on Vesting

($)(2)

 

Frank D. Martell

  

 

 

  

 

 

  

 

84,149

 

  

 

3,124,052

 

James L. Balas

  

 

8,000

 

  

 

257,496

 

  

 

22,831

 

  

 

847,099

 

Barry M. Sando

  

 

 

  

 

 

  

 

36,157

 

  

 

1,341,386

 

Francis Aaron Henry

  

 

 

  

 

 

  

 

 

  

 

 

Arnold A. Pinkston

  

 

 

  

 

 

  

 

3,112

 

  

 

117,011

 

(1)

Value realizedSeverance Benefit on exercise is based on the fair market value of our common stock on the date of exercise minus the exercise price and does not necessarily reflect proceeds actually received by the NEO.

(2)

Value realized on vesting is based on the fair market value of our common stock on the vesting date and does not necessarily reflect proceeds actually received by the NEO.

Pension Benefits for 2019

The following table shows the actuarial present value of the accumulated retirement benefits payable upon normal retirement age to each of the NEOs who participate in a pension plan, computed as of December 31, 2019. The amounts disclosed are based upon benefits provided to the NEOs under our Pension Restoration Plan and our Executive Supplemental Benefit Plan. Benefit accruals were frozen under the Pension Restoration Plan as of April 30, 2008 and the Executive Supplemental Benefit Plan was frozen effective December 31, 2010. We previously maintained a pension plan, which was assumed by First American Financial Corporation (“FAFC”) in connection with spinning off our financial services businesses now known as FAFC on June 1, 2010 (the “Separation”). Messrs. Martell, Balas, Henry and Pinkston were not eligible to participate in the Pension Restoration Plan or the Executive Supplemental Benefit Plan and therefore they are not included in the following table.

Name

  Plan Name  

Number

of Years

Credited

Service

(1)(#)

   

Present

Value of

Accumulated

Benefits

(2)($)

   

Payments

During

Last Fiscal

Year

 

Barry M. Sando

  

Executive Supplemental Benefit Plan

  

 

28

 

  

 

6,666,484

 

  

 

0

 

Barry M. Sando

  

Pension Restoration Plan

  

 

27

 

  

 

148,122

 

  

 

0

 

(1)

Credited years of service for the Pension Restoration Plan and the Executive Supplemental Benefit Plan is the time between the participant’s deemed participation date under the plan and December 31, 2019.

(2)

The Pension Restoration Plan benefits generally accrue from the date of employment through the normal retirement age (as discussed below). The following assumptions were used for calculating present values: interest rate of 3.12%, post-retirement mortality perPri-2012 Table for Healthy Retirees with mortality projection using Fully Generational ScaleMP-2019, and benefit is payable as a single life annuity.

Executive Supplemental Benefit Plan eligibility requires 10 years of service and 5 years of participation in the plan with the benefit dependent on age at retirement between 55 and 62, rather than credited years of service. The following assumptions were used for calculating present value: interest rate of 3.12% post-retirement mortality perPri-2012 “Retirees” and “Contingent Survivors” tables with white collar adjustments, projected generationally beyond 2012 usingMP-2019 Order 2 Graduation Alternative Projection Scale. Benefit is payable as a 50% joint and survivor annuity.

Pension Restoration Plan

During 1996, we adopted the Pension Restoration Plan. This plan is an unfunded,non-qualified plan designed to make up for the benefit accruals that were limited under ourtax-qualified pension plan based on compensation in excess of the amount of compensation that may be considered under federal tax law limits for qualified plans. However, in order to limit its expense, the Pension Restoration Plan does not make up for benefit accruals on compensation exceeding $275,000. The Pension Restoration Plan also makes up for benefits that could not be paid from a qualified plan because of limitations imposed by the federal tax laws. Vesting of benefits payable to an employee under the Pension Restoration Plan generally occurs upon employment through “normal retirement age.” “Normal retirement age” is defined as the later of the employee’s attainment of age 65 or three years of service with us. The Pension Restoration Plan was effective as of January 1, 1994, but only covers selected employees who were participants in thetax-qualified pension plan formerly sponsored by us which was assumed by FAFC in connection with the Separation. The Pension Restoration Plan excludes pay earned after December 31, 2001. The Pension Restoration Plan was amended in February 2008 to eliminate benefit accruals for service after April 30, 2008.

Effective January 1, 2009, to comply with Section 409A of the Code, payment of benefits under the Pension Restoration Plan commences the first of theseventh month following a participant’s separation from service or six months following a participant’s separation from service if he is considered a specified employee. Also, benefit options under the Pension Restoration Plan include various actuarial equivalent annuity options. A participant with at least three years of service with us may elect to retire after attaining age 55, but prior to age 65, and receive reduced benefits. Benefits are reduced 1/180th for each of the first 60 months and by 1/360th for each of any additional months by which the benefit commencement date precedes the participant’s normal retirement date. Mr. Sando is the only NEO who participates in the Pension Restoration Plan, and he was eligible for early retirement but not normal retirement at December 31, 2019.

On June 1, 2010, in connection with spinning off the businesses now known as FAFC, the sponsorship of a portion of the Pension Restoration Plan and the liabilities under the plan were transferred to FAFC with respect to the accrued benefits for employees and former employees who were transferred to FAFC. We remain responsible for liabilities under the Pension Restoration Plan relating to the accrued benefits of employees who were not transferred to FAFC, which are now payable pursuant to the terms of the CoreLogic, Inc. Pension Restoration Plan, the successor plan to the original Pension Restoration Plan. The new plan is intended to govern the benefits payable to participants under the plan as of June 1, 2010 and is not intended to grant additional benefits to the participants in excess of their benefits accrued under the original Pension Restoration Plan.

Executive Supplemental Benefit Plan

The Executive Supplemental Benefit Plan provides retirement benefits for, andpre-retirement death benefits with respect to, certain key management personnel. The plan was originally adopted in 1985 and has been amended a number of times since then. Under the plan, as originally adopted, upon retirement at normal retirement date (the later of age 65 or completion of 10 years of service) the participant received a joint life and 50% survivor annuity benefit equal to 35% of “final average compensation.” “Final average compensation” was determined for those three calendar years out of the last 10 years of employment preceding retirement in which final average compensation is the highest. Final average compensation includes base salary and commissions, cash bonuses and stock bonuses that are granted to compensate for past services (such as annual incentive bonus RSUs).

Under the original plan, the benefit was reduced by 5% for each year prior to normal retirement date in which retirement occurs and, until age 70, increased by 5% (compounded in order to approximate the annuitized

value of the benefit had retirement occurred at age 65) for each year after such date in which retirement occurs. With respect to such postponed retirement, the plan took into account covered compensation received until age 70, so that the retirement benefit of an executive who retires after normal retirement date is determined as the greater of the annuitized benefit or the benefit calculated using final average compensation until age 70.

To be eligible to receive benefits under the plan, a participant must be at least age 55, have been an employee of us or one of our subsidiaries for at least 10 years and covered by the plan for at least five years. Apre-retirement death benefit is provided consisting of 10 annual payments, each of which equals 50% of final average compensation. Subject to applicable legal rules, the Board can, in its discretion, pay the participant or beneficiary in an actuarial equivalent lump sum or other form of benefit. In the event of a “change in control” (as defined in the plan) of us, a participant who retires after the change in control shall receive the same benefits as if he were retiring upon the attainment of normal retirement date.

The Executive Supplemental Benefit Plan was amended in September 2005 to provide that participants who thereafter engage in competitionSeverance Date with us, either during their employment with or following their departure, forfeit their right to receive any vested benefits under the plan. Competition includes the misappropriation, sale, use or disclosure of our trade secrets, confidential or proprietary information and solicitation of our customers.

To reduce the costs of the plan to us, the plan was further amended in October 2007. Among other changes, this amendment (i) reduced the normal retirement date to the latest of age 62, the date on which the participant completes 10 years of service with us and the date on which the participant was covered, in combination, by the plan or FAC Management Supplemental Benefit Plan for five years; (ii) changed the period over which “final average compensation” is determined to the five calendar years preceding retirement; (iii) reduced the maximum benefit payable to a joint life and 50% survivor annuity benefit equal to 30% of final average compensation; (iv) eliminated any increased benefit for postponed retirement beyond the normal retirement date; and (v) provided for accelerated vesting only upon a change in control that is not approved by our incumbent Board. The benefit is reduced by 5.952% for each year prior to age 62 in which retirement actually occurs. Participants who were vested as of the effective date of the amendment, November 1, 2007, are entitled to receive the higher of the benefit as calculated under the amended plan and the benefit to which the participant would have been entitled had he retired on October 31, 2007.

In connection with the Separation, we transferred sponsorship and administration of a portion of the Executive Supplemental Benefit Plan to FAFC. As part of this transfer, FAFC assumed the liabilities under the portion of the plan covering employees and former employees who were transferred to FAFC. Following the Separation, we remained responsible for the liabilities under the portion of the Executive Supplemental Benefit Plan relating to our employees and former employees who were not transferred to FAFC. We maintain the CoreLogic, Inc. Executive Supplemental Benefit Plan as the successor to the original Executive Supplemental Benefit Plan in satisfaction of its liabilities to such employees who were participants and accrued benefits under the Executive Supplemental Benefit Plan, but were not transferred to FAFC. The CoreLogic, Inc. Executive Supplemental Benefit Plan is intended to provide future benefits for our employees on and after June 1, 2010 and is intended to govern the benefits payable to such employees both before and after June 1, 2010.

Effective December 31, 2010, the CoreLogic, Inc. Executive Supplemental Benefit Plan was frozen and amended to, among other things: (i) close the plan to new participants; (ii) freeze the average pay calculation as of December 31, 2010 (compensation after December 31, 2010 will not be taken into consideration in calculating benefits); (iii) amend the amount and form of thepre-retirement death benefit to provide for payment to a participant’s designated beneficiary in an amount equal to the survivor portion of a 50% joint and survivor annuity for the life of the beneficiary, or if the participant’s beneficiary is someone other than the participant’s spouse or domestic partner, for a maximum of twenty years; and (iv) apply a proration factor to the benefit amount payable, the numerator of which is a participant’s service at December 31, 2010 and the denominator of which is the participant’s service that would have accrued as of his or her early retirement date if the participant was not early retirement eligible as of December 31, 2010.

In addition to the amendments described above, the change of control provisions were amended to provide that participants will become 100% vested in all plan benefits upon an involuntary separation from service without good cause following a change of control. Prior to the amendment, participants became 100% vested in all plan benefits upon a change of control, regardless of whether they incurred a separation of service for any reason. Furthermore, the retirement income benefit provided to participants and commencing upon a separation from service following a change of control on the same basis as though they had attained normal retirement age is limited to participants who experience an involuntary separation from service without good cause following a change of control.

As of December 31, 2019, there remained three active employees, including Mr. Sando, who participate in the plan. The plan is closed to new participants. As of December 31, 2019, Mr. Sando was eligible for early retirement but not normal retirement. The plan is unfunded and unsecured. We have previously purchased insurance, of which we are the owner and beneficiary, on the lives of certain plan participants. This insurance is designed to offset, over the life of the plan, a portion of our costs incurred with respect to the plan.

Nonqualified Deferred Compensation for 2019

As reflected in the following table, certain of our NEOs have elected to participate in our Deferred Compensation Plan.

 Name

  

Executive

Contributions

in Last FY

(1)($)

   

Registrant

Contributions

in Last FY

(1)($)

   

Aggregate

Earnings

in Last FY

(2)($)

   

Aggregate

Balance at

Last FYE

(3)($)

 

Frank D. Martell

  

 

273,000

 

  

 

52,618

 

  

 

537,154

 

  

 

2,900,741

 

James L. Balas

  

 

181,221

 

  

 

20,986

 

  

 

232,020

 

  

 

1,098,092

 

Barry M. Sando

  

 

10,450

 

  

 

28,950

 

  

 

302,769

 

  

 

1,479,199

 

Francis Aaron Henry

  

 

 

  

 

 

  

 

 

  

 

 

Arnold A Pinkston

  

 

 

  

 

3,000

 

  

 

251

 

  

 

3,251

 

(1)

All contributions presented herein reflect amounts actually deferred in 2019, and have been reported as compensation in the appropriate columns of the Summary Compensation Table. Amounts reported in the 2019 Summary Compensation Table under “All Other Compensation” reflect Company contributions earned for 2019.

(2)

Represents earnings or losses on participant-selected investment options. None of the amounts are reflected in the 2019 Summary Compensation Table because the return on deferred amounts is calculated in a similar manner and at a similar rate as earnings on externally managed mutual funds.

(3)

To the extent the executive officers were NEOs in prior years, the amounts reported in the aggregate balance at last fiscal year end that represented prior salary andnon-equity incentive plan compensation deferrals or Company contributions were previously reported as compensation to the NEO in our Summary Compensation Table as “Salary,”“Non-Equity Incentive Plan Compensation” or “All Other Compensation” in previous years. Amounts reported in the aggregate balance at last fiscal year end that represent earnings in prior years on previously deferred amounts are not reflected on prior period Summary Compensation Tables.

The Deferred Compensation Plan offers to a select group of management and highly compensated employees the opportunity to elect to defer portions of their base salary, commissions and cash bonuses. We maintain a deferral account for each participating employee on a fully vested basis for all employee deferrals. Participants can choose to have their cash benefits paid in one lump sum or in quarterly payments upon separation from service or death. Subject to the terms and conditions of the plan, participants may also elect scheduled and nonscheduledin-service withdrawals of compensation deferred prior to January 1, 2005, and the earnings and losses attributable thereto. Withdrawals of compensation deferred after December 31, 2004, and the earnings and losses attributable thereto, must be scheduled by the participant at the time the participant elects to defer such compensation.

Participants allocate their deferrals among a variety of investment crediting options offered under the plan. The investment crediting rates are based upon the rates of return available under certain separate accounts offered through variable insurance products.

For all participants who joined the Deferred Compensation Plan prior to December 31, 2001, the plan provides apre-retirement life insurance benefit equal to the lesser of 15 times the amount deferred in the participant’s first year of participation or $2 million. The life insurance benefit is reduced beginning at age 61 by 20% per year. Participants who join the plan after December 31, 2001 are not eligible for this insurance benefit. We pay a portion of the cost of such life insurance benefits. The plan is unfunded and unsecured.

The Deferred Compensation Plan was amended in 2010 to provide for Company contributions to the plan in the form of 401(k) restoration contributions. The amount of our 401(k) restorations contributions made to participant accounts is determined based on the amount of discretionary matching contributions that would be made under the 401(k) Plan if the participants’ deferrals under the Deferred Compensation Plan were instead made under the 401(k) Plan, but without regard to the statutory limits that apply to the benefits that may be provided under the 401(k) Plan. There are currently no vesting limitations in the Deferred Compensation Plan.

Potential Payments Upon Termination or Change in Control

The following tables describe payments and other benefits that would be provided to certain of our NEOs under the specified circumstances upon a change in control of us or their termination, assuming a termination or change in control occurred on December 31, 2019. For further discussion, see “Compensation Discussion and Analysis—Change in Control Agreements” above. Mr. Pinkston left the Company in June 2019 and received no severance compensation in connection with his resignation. He is therefore not included in the table below.

Name  Trigger  Severance  Bonus  

Value of RSU

Acceleration (6)

  

Value of

PBRSU

Acceleration (7)

  

Deferred

Compensation (8)

   

Vested

Pension

Plan (11) (12)

  

Benefit

Continuation

  Total 

Frank Martell

  Voluntary Resignation               2,900,741          2,900,741 
  Termination For Cause               2,900,741          2,900,741 
  Termination Without Cause / For Good Reason   4,125,000 (2)   1,720,000 (4)   4,091,125      2,900,741       35,329 (9)   12,872,195 
  Change in Control with Termination Good Reason / Without Cause (1)   6,187,500 (3)   1,720,000 (5)   4,091,125   4,080,547   2,900,741       42,171 (10)   19,022,084 
  Death      1,720,000 (4)   4,091,125   4,080,547   2,900,741          12,792,413 
  Disability      1,720,000 (4)   4,091,125   4,080,547   2,900,741          12,792,413 
            

James Balas

  Voluntary Resignation               1,098,092          1,098,092 
  Termination For Cause               1,098,092          1,098,092 
  Termination Without Cause   950,000 (2)   660,000 (4)   998,205      1,098,092       25,764 (9)   3,732,061 
  Change in Control with Termination Good Reason / Without Cause (1)   1,900,000 (3)   660,000 (5)   998,205   1,372,538   1,098,092       41,496 (10)   6,070,331 
  Death      660,000   998,205   1,372,538   1,098,092          4,128,835 
  Disability      660,000   998,205   1,372,538   1,098,092          4,128,835 
            

Barry M. Sando

  Voluntary Resignation               1,479,199    6,619,775      8,098,974 
  Termination For Cause               1,479,199    6,619,775      8,098,974 
  Termination Without Cause   2,200,000 (2)   765,500 (4)   1,195,906      1,479,199    6,619,775   35,329 (9)   12,295,709 
  Change in Control with Termination Good Reason / Without Cause (1)   3,300,000 (3)   765,500 (5)   1,195,906   1,642,054   1,479,199    7,496,501 (13)   42,171 (10)   15,921,331 
  Death      765,500   1,195,906   1,642,054   1,479,199    3,267,479 (14)      8,350,138 
  Disability      765,500   1,195,906   1,642,054   1,479,199    6,619,775      11,702,434 
            

Francis Aaron Henry

  Voluntary Resignation                          
  Termination For Cause                          
  Termination Without Cause   950,000 (2)                   1,984 (9)   951,984 
  Change in Control with Termination Good Reason / Without Cause (1)   1,900,000 (3)   385,000 (5)      485,880          2,158 (10)   2,773,038 
  Death      385,000      485,880             870,880 
  Disability      385,000      485,880             870,880 

(1)

In accordance with SEC rules, an excise tax calculation is not presented in this table as we do not provide agross-up or tax reimbursement to our NEOs in connection with a change in control. Amounts payable in the event of a change in control may be subject to reduction under Sections 280G and 4999 of the Code.

(2)

Represents an amount equal to a multiple of annualized base salary in effect on the date employment terminates (the “Severance Date”)—two times annualized base salary in the case of Messrs. Martell and Sando;one-time annualized base salary in the case of Messrs. Balas and Henry, plus (ii) the same multiple of target annual ICP amount in effect on the Severance Date (the “Severance Benefit”). The Severance Benefit will be payable in a lump sum equal to7/24 (7/additional 1/24 (1/12 for Messrs. Balas and Henry) of the Severance Benefit on the seventh month after the Severance Date with an additional1/24(1/12 for Messrs. Balas and Henry) of the Severance Benefit paid each month until the month which is 24 months for Messrs. Martell and Sando (12 months for Messrs. Balas and Henry) after the Severance Date. Receipt of the benefit is contingent upon execution of a general release of claims and compliance with certain post-termination covenants, including a 24 month post-terminationnon-competition covenant for Messrs. Martell and Sando (12 months for Messrs. Balas and Henry), and confidentiality provisions in the employment agreement.

(3)

Represents a multiple of base salary in effect immediately prior to the date of termination by us (three times base salary for Messrs. Martell and Sando and two times base salary for Messrs. Balas and Henry) and a multiple of target annual cash bonus established for fiscal year (three times for Messrs. Martell and Sando; two times for Messrs. Balas and Henry). Receipt of the benefit is contingent upon execution of a general release of claims.

(4)

(4)

Represents the pro rata portion of annual cash bonus for fiscal year 2019;Represents the pro rata portion of annual cash bonus for fiscal year 2020; applicable agreements provide for the payment of the pro rata portion of the bonus amount that would have been paid if employment had not terminated during the fiscal year. Such payment is required to be paid within two and one half months following fiscal year end. Receipt of the benefit is contingent upon execution of a general release of claims and compliance with certain post termination covenants, including a 24 month post-terminationnon-competition covenant for Messrs. Martell and Sando (12 months for Mr. Balas), and confidentiality provisions in the employment agreement.

(5)

(5)

Except for Mr. Henry, represents the pro rata portion of target annual cash bonus for the year of termination; applicable agreements provide for the payment of the target annual cash bonus established for fiscal year 2019. For Mr. Henry, amount shown reflects his bonus for fiscal year 2019.Represents the pro rata portion of target annual cash bonus for the year of termination; applicable agreements provide for the payment of the target annual cash bonus established for fiscal year 2020. Receipt of the benefit is contingent upon execution of a general release of claims.

(6)

Represents the value after acceleration of outstanding unvested Restricted Stock Units (“RSUs”) based on our closing stock price on August 31, 2020 of $66.40. The outstanding unvested RSUs reported above will accelerate and vest on an involuntary termination without cause (whether before or after a change in control, although not all outstanding RSUs may vest on such a termination before a change in control), retirement, death or disability. For certain terminations of employment, the accelerated vesting is subject to execution of a general release of claims and compliance with certain post-termination covenants, including a 24-month post-termination non-competition covenant for Messrs. Martell and Sando (12 months for Mr. Balas), and confidentiality provisions in the employment agreement.

(6)

Represents the value after acceleration of outstanding unvested RSUs based on our closing stock price on December 31, 2019 of $43.71. The outstanding unvested RSUs reported above will accelerate and vest on an involuntary termination without cause (whether before or after a change in control, although not all outstanding RSUs may vest on such a termination before a change in control), retirement, death or disability. For certain terminations of employment, the accelerated vesting is subject to execution of a general release of claims and compliance with certain post-termination covenants, including a24-month post-terminationnon-competition covenant for Messrs. Martell and Sando (12 months for Mr. Balas), and confidentiality provisions in the employment agreement.

(7)

(7)

Represents the value after acceleration of all outstanding unvested PBRSUs based on our closing stock price on December 31, 2019 of $43.71.Represents the value after acceleration of all outstanding unvested Performance Based Restricted Stock Units (“PBRSUs”) based on our closing stock price on August 31, 2020 of $66.40. All or apro-rata portion of outstanding unvested PBRSUs will generally accelerate on death, disability or involuntary termination without cause following a change in control, subject to attainment of the performance measures for any termination prior to a change in control. We have assumed that the target number of PBRSUs would become vested in connection with each acceleration event, although the actual number of PBRSUs that could become vested could be higher or lower than the target number of PBRSUs, based on actual performance.

(8)

(8)

Refers to payments accrued under the Deferred Compensation Plan as of December 31, 2019Refers to payments accrued under the DCP as of August 31, 2020 based on each executive officer’s salary deferral election and 401(k) restoration contributions.

(9)

Represents the cost of continued health and welfare benefits for 24 months in the case of Messrs. Martell and Sando, or 12 months in the case of Messrs. Balas and Henry, (prorated for Mr. Henry for days employed in 2019), after the date on which the termination occurs. These obligations are reduced by any welfare benefits made available to the executive officer from subsequent employers.

(10)

Represents the cost of continued health and welfare benefits for 36 months in the case of Messrs. Martell and Sando, or 24 months in the case of Messrs. Balas and Henry, (prorated for Mr. Henry for days employed in 2019), after the date on which the termination occurs subject to the executive’s continued payment of the same premium payment amount as immediately prior to termination. These obligations are reduced by any welfare benefits made available to the executive officer from subsequent employers.

(11)

Mr. Sando is eligible to receive current vested benefits amount under the Pension Restoration Plan and Executive Supplemental Benefit Plan.

(12)

(12)

Represents the present value of the benefit calculated under the Executive Supplemental Benefit using the following assumptions: : interest rate of 3.12% post-retirement mortality perPri-2012 “Retirees” and “Contingent Survivors” tables with white collar adjustments, projected generationally beyond 2012 usingMP-2019 Order 2 Graduation Alternative Projection Scale and the present value of the benefit calculated under the Pension Restoration Plan using the following assumptions: interest rate of 3.12%Represents the present value of the benefit calculated under the Executive Supplemental Plan using the following assumptions: interest rate of 2.14% post-retirement mortality per Pri-2012 “Retirees” and “Contingent Survivors” tables with white collar adjustments, projected generationally beyond 2012 using MP-2019 Order 2 Graduation Alternative Projection Scale and the present value of the benefit calculated under the Pension Restoration Plan using the following assumptions: interest rate of 2.25%, post-retirement mortality perPri-2012 Table for Healthy Retirees with mortality projection using Fully Generational ScaleMP-2019.

(13)

Upon an involuntary termination without cause after a change in control, Mr. Sando becomes 100% vested in the Executive Supplemental Benefit Plan in the amount Mr. Sando would have been entitled to receive in accordance with the provisions of the plans in effect on the date of the change of control.

(14)

Represents pre-retirement death benefit payable to the executive officer’s spouse.

CERTAIN POTENTIAL CONSEQUENCES OF THE STOCKHOLDER PROPOSALS

Interests of Certain Participants

The removal and replacement of a majority of the Board will constitute a “change in control” for purposes of (i) the Company’s 2018 Performance Incentive Plan, 2011 Performance Incentive Plan and 2006 Incentive Compensation Plan and the award agreements thereunder (collectively, the “Equity Incentive Plans”), (ii) the Change in Control Agreements, and (iii) the Company’s nonqualified deferred compensation plans. For additional information regarding these plans and agreements, see the sections of this Proxy Statement entitled “Change in Control Agreements” and “Potential Payments Upon Termination or Change of Control.” The impact of a change in control as a result of the removal and replacement of the Board under these plans and agreements is summarized below.

Certain Assumptions. Except as otherwise specifically noted, for purposes of quantifying the potential payments and benefits described in this section, the following assumptions were used:

 

(14)

Representspre-retirement death benefit payable to the executive officer’s spouse.

the removal and replacement of the Board occurs on August 31, 2020, which is the assumed date of the change in control solely for purposes of the disclosure in this section (the “Change in Control Date”);

the relevant price per share of the Common Stock on the Change in Control Date is $66.40, which was the closing price of the Common Stock on August 31, 2020;

the employment of each executive of the Company who is considered a “participant” with respect to the Company’s solicitation of proxies (including the non-employee members of the Board, each, a “Participant”) will have been terminated by the Company without “cause” or due to the executive officer’s resignation for “good reason” (as such terms are defined in the relevant plans and agreements), in either case immediately following the Change in Control Date; and

the performance metrics applicable to each PBRSU and each award under the Company’s Annual Incentive Plan will have been achieved at the target level of performance.

As the amounts provided below are estimates based on multiple assumptions that may or may not actually occur or be accurate as of the date referenced, the actual amounts, if any, that may be paid or become payable may materially differ from the amounts set forth below. In addition, the amounts provided below are determined without regard to any potential “cutback” to avoid the “golden parachute” excise tax that may be imposed under Section 4999 of the Tax Code, or any indemnification in respect of the excise tax.

Equity Incentive Plans. Under the terms of the Equity Incentive Plans, then-outstanding RSUs held by the Company’s non-employee directors will vest upon the Change in Control Date. Assuming the administrator does not exercise its discretion under the Equity Incentive Plans to accelerate the vesting of outstanding awards upon the occurrence of a change in control, then, for awards held by grantees other than the Company’s non-employee directors: (i) RSUs will generally vest upon the earlier of the original vesting date and the date of the grantee’s termination of employment by the Company without cause or, for those grantees who are party to a Participant Change in Control Agreement, by the grantee for good reason, in either case, within twelve (12) months following the Change in Control Date; and (ii) PBRSUs will generally convert at the greater of the target level or actual level of performance into time-based RSUs, and will vest upon the earlier of the original vesting date and the date of the grantee’s termination of employment by the Company without cause or, for grantees who are party to a Participant Change in Control Agreement, by the grantee for good reason.

The unvested RSUs and PBRSUs held by the Company’s non-employee directors and those executives who are Participants as of August 31, 2020 is set forth and quantified in the table below.

Participant

  RSUs
(#)
   PBRSUs
(#)
   Total
($)
 

J. David Chatham

   4,179    —      277,486 

Douglas C. Curling

   4,179    —      277,486 

John C. Dorman

   4,179    —      277,486 

Paul F. Folino

   4,179    —      277,486 

Claudia Fan Munce

   4,179    —      277,486 

Thomas C. O’Brien

   4,179    —      277,486 

Pamela H. Patenaude

   2,964    —      196,810 

Vikrant Raina

   4,179    —      277,486 

J. Michael Shepherd

   4,179    —      277,486 

Jaynie Miller Studenmund

   4,179    —      277,486 

David F. Walker

   4,179    —      277,486 

Frank D. Martell

   95,942    141,050    15,736,269 

James L. Balas

   22,944    42,815    4,366,398 

Francis Aaron Henry

   9,881    21,103    2,057,338 

Daniel L. Smith

   4,920    6,860    782,192 

Change in Control Agreements. The Company has entered into change in control agreements with each Participant who is an executive of the Company (the “Participant Change in Control Agreements”). The Participant Change in Control Agreements generally provide that if the Participant is terminated from employment by the Company without cause or the Participant terminates his employment with good reason, in either case, within two (2) years following the Change in Control Date, then the Participant will receive:

an amount equal to three (3) times, for Messrs. Martell and Sando, two (2) times, for Messrs. Balas and Henry, and, for Mr. Smith, one and a half (1.5) times the sum of the executive’s (x) target annual bonus plus (y) annual base salary as in effect immediately prior to the date of termination of employment;

to the extent the qualifying termination of employment occurs in 2021 or later, a prorated target annual bonus for the year in which the termination of employment occurs; and

continued health and welfare benefits coverage for 36 months, for Messrs. Martell and Sando, 24 months for Messrs. Balas and Henry, or 18 months for Mr. Smith.

The provision of payments and benefits described above is conditioned upon the Participant’s execution of a release of claims. The Participant Change in Control Agreements further provide that if an executive officer receives any amount that is subject to the “golden parachute” excise tax imposed pursuant to Section 4999 of the Tax Code, the amount of the payments to be made to the Participant will be reduced to the extent necessary to avoid imposition of the excise tax, but only if the after-tax amount of the reduced payments exceeds the after-tax amount that the Participant would receive without any such reduction following imposition of the excise tax and all income and related taxes.

Based on the assumptions described above under “Certain Assumptions,” the estimated aggregate amount of severance payments to be provided to each Participant under his respective Participant Change in Control Agreement is: (i) Mr. Martell, $6,794,946; (ii) Mr. Balas, $1,945,299; (iii) Mr. Sando, $3,344,946; (iv) Mr. Henry, $1,902,725; and (v) Mr. Smith, $681,974.

Annual Incentive Plan. Each of Messrs. Martell, Balas, Sando, Henry, and Smith participates in the Company’s Annual Incentive Plan. The Annual Incentive Plan generally provides that if the Participant is terminated from employment by the Company without cause or the Participant terminates his employment with good reason, in either case, on or following the Change in Control Date but during the 2020 performance period,

then the Participant would receive a prorated annual bonus for the 2020 performance period based on the greater of the target level or actual level of performance through the date of the termination of employment (the “AIP Bonus”). To the extent the Participant experiences a qualifying termination of employment in 2020, the AIP Bonus is in lieu of the prorated annual bonus provided under the Participant Change in Control Agreements.

Based on the assumptions described above under “Certain Assumptions,” the estimated Annual Bonus to be provided to each NEO is: (i) Mr. Martell $902,466; (ii) Mr. Balas, $317,534; (iii) Mr. Sando; $367,671; (iv) Mr. Henry, $317,534; and (v) Mr. Smith, $108,296.

Nonqualified Deferred Compensation Plans. Mr. Sando participates in the Executive Supplemental Plan. The Executive Supplemental Plan provides that all participants, including Mr. Sando, will become fully vested in their plan benefits on a termination of employment following the Change in Control Date by the Company other than for good cause or, for any participant who is party to a change in control agreement with the Company (including a Participant Change in Control Agreement), by the participant for good reason. The Executive Supplemental Plan benefit will be provided on the same basis as if the participant had attained normal retirement age prior to such termination of employment, subject to a proration factor for those participants, including Mr. Sando, who had not reached their early retirement date under the plan as of December 31, 2010. Based on the assumptions described above under “Certain Assumptions,” the portion of Mr. Sando’s benefit under the Executive Supplemental Plan that will become payable as a result of the change in control is $490,225, in addition to Mr. Sando’s vested portion of $7,900,117, for a total of $8,390,342.

Each of the Participants participates in the DCP. The DCP provides that all participants will vest in their unvested Company contributions on the Change in Control Date. None of the Participants have any unvested Company contributions in the DCP.

Grantor Trust Funding. The Company established grantor trusts for the Executive Supplemental Plan, the DCP and the Company’s Management Supplemental Benefit Plan (the “Grantor Trusts”). The Grantor Trusts generally require that the Company fund the benefits under these plans immediately prior to the occurrence of a change in control. In the event that the Company is required to fund the Grantor Trusts, the required contribution will be approximately $36 million.

Credit Agreement and Indenture

The removal and replacement of nine Incumbent Directors may also constitute a “change in control” for purposes of the Second Amended and Restated Credit Agreement, dated as of August 10, 2017 (as amended by the First Amendment, dated as of May 31, 2019, and as further amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”), by and among the Company, CoreLogic Australia Pty Limited (together with the Company, the “Borrowers”), the guarantors from time to time party thereto, the lenders from time to time party thereto and Bank of America, N.A., as administrative agent and collateral agent (the “Agent”). Under the Credit Agreement, a change in control will be deemed to occur if during any period of 25 consecutive calendar months, a majority of the Board is no longer composed of individuals (i) who were members of the Board on the closing date of the Credit Agreement (August 10, 2017), (ii) whose election or nomination to the Board was approved by individuals referred to in clause (i) above constituting at the time of such election or nomination at least a majority of the Board or (iii) whose election or nomination to the Board was approved by individuals referred to in clauses (i) and (ii) above constituting at the time of such election or nomination at least a majority of the Board. A change of control is an immediate event of default under the Credit Agreement, and upon an event of default, the Agent may, and at the request of the required lenders shall, (A) terminate the commitments and declare the loans then outstanding to be due and payable in whole or in part, together with accrued interest, all fees and other obligations of the Borrowers, and/or (B) enforce all of the liens and security interests created pursuant to the collateral documents.

In addition, the Indenture, dated as of April 7, 1998, between the Company and Wilmington Trust Company (the “Trustee”), as supplemented by the First Supplemental Indenture, dated July 26, 2004, the Third

Supplemental Indenture, dated May 10, 2010, and the Fourth Supplemental Indenture, dated June 1, 2010 (together, the “Indenture”), includes events of default caused by the acceleration of the Company’s other debt, including debt under the Credit Agreement: (i) if there is a default or an event of default in at least $10 million of aggregate principal amount of the Company’s or its subsidiaries’ non recourse debt declared due and payable and such acceleration is not rescinded within 10 days thereafter and (ii) failure by the Company or its Subsidiaries to pay at maturity any recourse debt in excess of $10 million of aggregate principal amount and that remains uncured for 10 days thereafter. As a result, in the event that a change in control occurs under the Credit Agreement, which is an event of default thereunder, it would also be an event of default under the Indenture.

Under Delaware case law, the Board’s fiduciary duties may require it to approve the nomination of the Senator and Cannae Nominees for purposes of the change in control provision in the Credit Agreement unless the Board identifies a specific and substantial risk to the Company or its creditors posed by such nominees.4 After considering various factors and consultation with the Company’s counsel, even though the Board does not believe it to be in the best interests of the Company and its stockholders for stockholders to vote for the nomination of any of the Senator and Cannae Nominees and to remove any doubt regarding the effect of the nomination or appointment of the Senator and Cannae Nominees under the Credit Agreement, the Board has determined to approve the nomination for appointment of the Senator and Cannae Nominees, solely and specifically for the purposes of the change in control provision in the Credit Agreement, and NOT for purposes of endorsing or otherwise supporting the nomination for appointment of the Senator and Cannae Nominees. In making its determination, the Board considered a variety of factors, including, among others, the amount of loans outstanding under the Credit Agreement that would become due and payable upon a change in control and the availability of replacement financing on commercially reasonably terms to satisfy any such repayment obligations upon a change in control. As a result of, among other things, the Board’s approval of the Senator and Cannae Nominees for this limited purpose, the Company believes the nomination for appointment of the Senator and Cannae Nominees will not trigger the change in control provision under the terms of the Credit Agreement. Notwithstanding the above, the Board unanimously recommends that stockholders vote AGAINST all of the Stockholder Proposals.

APPRAISAL RIGHTS

Holders of the Common Stock do not have appraisal rights under the DGCL in connection with this solicitation of proxies.

STOCKHOLDER LIST

A list of stockholders entitled to vote at the Special Meeting will be available for examination by any stockholder for any purpose germane to the Special Meeting during ordinary business hours at our corporate headquarters located at 40 Pacifica, Irvine, California 92618, for the ten days prior to the Special Meeting, and also at the Special Meeting.

4

PAY RATIO DISCLOSURE

Under Section 953(b)See Kallick v. Sandridge Energy, 68 A.3d 242, 260-61 (Del. Ch. 2013) (noting that “where an incumbent board cannot identify that there is a specific and substantial risk to the corporation or its creditors posed by the rival slate, and approval of that slate would therefore not be a breach of the Dodd-Frank Wall Street Reform and Consumer Protection Act and Item 402(u)contractual duty ofRegulation S-K, good faith owed to noteholders with the Company is required to provide the ratio of the annual total compensation of Mr. Martellrights to the annual total compensationProxy Put, the incumbent board must approve the new directors as a matter of its obligations to the median employee ofcompany and its stockholders, even if it believes itself to be better qualified and have better plans for the Company. The Company believes that there have been no changes to our employee population or compensation arrangements that would result in a significant change to our pay ratio disclosure. Therefore, as permitted by Regulationcorporation than the rival slate”) (emphasis added) and Pontiac General Employees Retirement System v. Healthways, Inc., C.A. S-K,No. 9789-VCL we are using the same median employee as that was identified on December 31, 2017.

The median employee was anon-exempt, full-time employee located in the U.S. with an annual total compensation of $68,504 for 2019, calculated in accordance(Del. Ch. Oct 14, 2014) (transcript ruling) (agreeing with the requirements of Item 402(c)(2)(x) ofRegulation S-K, which includes base pay, overtime pay and the Company’s matching contribution to that employee’s 401(k) plan.

For the year ended December 31, 2019, the total compensation for our Chief Executive Officer, Mr. Martell, was $6,566,418 as reportedruling in the “Total” column of the 2019 Summary Compensation Table. Based on this information, for 2019, the ratio of the compensation of the Chief Executive Officer to the median annual total compensation of all other employees was estimated to be 95.85 to 1.

We believe that our pay ratio disclosure presented above is a reasonable estimate. Because the SEC rules for identifying the median employee and calculating the pay ratio allow companies to use different methodologies, exemptions, estimates and assumptions, our pay ratio disclosure may not be comparable to the pay ratio reported by other companies.

QUESTIONS AND ANSWERS ABOUT VOTING

Why have I been sent a notice regarding the availability of proxy materials on the Internet?

Pursuant to rules adopted by the SEC, we have elected to provide access to our proxy materials over the Internet. Accordingly, we are sending a Notice to most of our stockholders. All stockholders will have the ability to access the proxy materials on the website referred to in the Notice of Internet Availability of Proxy Materials (“Notice”) or request to receive a printed set of the proxy materials. Instructions on how to access the proxy materials over the Internet or to request a printed copy may be found in the Notice.

What proposals will be voted on at the Annual Meeting?

1.

The election of the 12 persons named in this proxy statement to serve on the Board until the next annual meeting and until their respective successors are duly elected and qualified;

2.

The approval, on an advisory basis, of the compensation of our NEOs;

3.

The ratification of the selection of PwC as our independent registered public accounting firm for the fiscal year ending December 31, 2020; and

4.

The transaction of such other business as may properly come before the Annual Meeting or any postponements or adjournments thereof.

Our management and the Board are not aware of any other matters to be presented at the Annual Meeting other than those set forth in this proxy statement and in the notice accompanying this proxy statement, nor have we received notice of any matter by the deadline prescribed byRule 14a-4(c)(1) promulgated under the Exchange Act. Without limiting our ability to apply the advance notice provisions in our Bylaws with respect to the procedures which must be followed for a matter to be properly presented at an annual meeting, if other matters should properly come before the Annual Meeting, the proxy holders will vote on such matters in accordance with their best judgment.

Does our Board have any recommendations with respect to the listed proposals?

Our Board recommends you vote: (1) “FOR” the election of each of the 12 nominees for director; (2) “FOR” the approval, on an advisory basis, of the compensation of our NEOs; and (3) “FOR” the ratification of the selection of PwC as our independent registered public accounting firm for the fiscal year ending December 31, 2020.

Who may attend the Annual Meeting?

Only our stockholders and their invited guests may attend the Annual Meeting. If you are a stockholder of record, you must bring proof of identification. If you hold your shares through a broker, bank or other nominee, you will need to provide proof of ownership  for example, a copy of a brokerage statement showing your share ownershipSandridge and proof of identification. Additional documentation is required to vote your shares at the Annual Meeting if you hold your shares through a broker, bank or other nominee. See “How can I vote my shares in person at the Annual Meeting?” below for more information.

Who is entitled to vote?

Stockholders of record as of the close of business on March 4, 2020, the record date, or those with a validnoting that proxy from a broker, bank or other nominee that held our shares on the record date are entitled to vote on the matters to be considered at the Annual Meeting.

Who is a stockholder of record?

A stockholder of record is a person or entity whose name appears as an owner of one or more shares of our common stock on the records of our transfer agent as of its close of business on the record date.

How can I vote my shares in person at the Annual Meeting?

If you hold shares as a stockholder of record, you have the right to vote those shares in person at the Annual Meeting. If you choose to do so, you can vote using the ballot provided at the Annual Meeting or, if you received a printed set of the proxy materials by mail, by submitting at the Annual Meeting the proxy card enclosed with the proxy materials you received. If you are a beneficial holder of shares, you may not vote your shares in person at the Annual Meeting unless you obtain a “legal proxy” from the broker, bank or other nominee that holds your shares, giving you the right to vote the shares in person at the Annual Meeting using the ballot provided at the meeting. Please note that participants in our 401(k) Savings Plan (the “401(k) Plan”puts remain “highly suspect”) may not vote their plan shares in person at the Annual Meeting. See “How are my shares in the Company’s 401(k) Plan voted?” below for more information.

Even if you plan to attend the Annual Meeting, we recommend that you vote your shares in advance as described below so that your vote will be counted if you later decide not to attend the Annual Meeting.

How many shares are entitled to vote at the Annual Meeting?

As of the record date, 79,015,035 shares of our common stock were issued, outstanding and entitled to vote at the Annual Meeting.

How many votes do I have?

Each share of the Company’s common stock, excluding treasury shares, is entitled to one vote on each of the 12 director nominees and on each other proposal to be voted on at the Annual Meeting.

How many directors can I vote for?

Twelve. At the Annual Meeting, stockholders may vote “for” or “against” the election to our Board of each of the 12 nominees for director. Stockholders may also abstain from voting with respect to any of the 12 nominees for director.

Who are the director nominees?

The 12 director nominees are: J. David Chatham, Douglas C. Curling, John C. Dorman, Paul F. Folino, Frank D. Martell, Claudia Fan Munce, Thomas C. O’Brien, Vikrant Raina, J. Michael Shepherd, Jaynie Miller Studenmund, David F. Walker, and Mary Lee Widener.

What is the voting requirement to approve each of the proposals?

Proposal 1 – Election of Directors

Because the number of director nominees timely nominated for election at the Annual Meeting does not exceed the number of directors to be elected at the Annual Meeting, our Bylaws provide that each director nominee will be elected to the Board to serve until the next annual meeting and as soon thereafter as his or her successor is duly elected and qualified, if the nominee receives a majority of votes cast with respect to such director nominee’s election. A “majority of votes cast” means that the number of votes “for” a director nominee must exceed the number of votes “against” that director nominee.

Proposal 2 – Approval, on an Advisory Basis, of the Compensation of our NEOs

Approval, on an advisory basis, of the compensation of our NEOs requires the affirmative vote of the holders of a majority of shares of common stock present in person or represented by proxy and entitled to vote on the matter (meaning that of the shares represented at the meeting and entitled to vote on the proposal, a majority of them must be voted “for” the proposal for it to be approved).

Proposal 3 – Ratification of the Selection of PwC as our Independent Registered Public Accounting Firm for the Fiscal Year Ending December 31, 2020

The selection of PwC as our independent registered public accounting firm for the fiscal year ending December 31, 2020 will be ratified if the affirmative vote of the holders of a majority of shares of common stock present in person or represented by proxy and entitled to vote on the matter (meaning that of the shares represented at the meeting and entitled to vote on the proposal, a majority of them must be voted “for” the proposal for it to be approved).

How do I vote?

If you are a stockholder of record, you may vote on matters that properly come before the Annual Meeting in one of four ways:

You may vote over the Internet.

You do this by following the instructions provided either in the Notice or on the proxy card accompanying this proxy statement if you received a printed set of the proxy materials. If you submit your proxy over the Internet, your shares will be voted as you instruct. You do not have to separately mail in your proxy card.

You may vote by mail.

If you received a printed set of the proxy materials, you do this by signing and dating the proxy card accompanying this proxy statement and mailing it in the enclosed, prepaid and addressed envelope within the required time. If you mark your voting instructions on the proxy card, your shares will be voted as you instruct.

You may vote by telephone.

You do this by following the instructions provided on the proxy card accompanying this proxy statement if you received a printed set of the proxy materials. If you submit your proxy by telephone, your shares will be voted as you instruct. You do not have to separately mail in your proxy card.

You may vote in person at the Annual Meeting.

You can vote your shares in person at the Annual Meeting. If you choose to do so, you can vote using the ballot provided at the Annual Meeting, or, if you requested and received printed copies of the proxy materials by mail, you can complete, sign and date the proxy card enclosed with the proxy materials you received and submit it at the Annual Meeting.

If you hold your shares in “street name,” you will receive instructions from your broker, bank or other nominee that you must follow in order to instruct how your shares are to be voted at the Annual Meeting. If your shares are held in “street name,” you may also attend the Annual Meeting and vote your shares in person, provided that you request and receive, prior to the Annual Meeting, a “legal proxy” from the broker, bank or other nominee that holds your shares giving you the right to vote the shares at the Annual Meeting and present the legal proxy at the meeting prior to voting. If your shares are held through the 401(k) Plan, please see “How are my shares in the Company’s 401(k) Plan voted?” below.

How are my shares in the Company’s 401(k) Plan voted?

For those stockholders who hold shares pursuant to the 401(k) Plan, Fidelity Management Trust Company (“Fidelity”) acts as trustee for shares held in the 401(k) Plan. The governing documents of the 401(k) Plan require Fidelity, as trustee, to vote the shares as directed by the plan participants for whose benefit the shares are held. Fidelity will use an independent third party to tabulate the voting directions of all participants who provide such directions to Fidelity. Neither the tabulator nor Fidelity will provide the individual or aggregate participant voting directions to the Company, unless otherwise required by law. Shares for which no direction is received by Fidelity from the participants by April 23, 2020 at 5:00 p.m., Eastern time, will be voted in the same proportion as are the shares for which directions are received by that time.

How will my shares be voted if I do not provide specific voting instructions in the proxy I submit?

The named proxy holders, Frank D. Martell or Francis Aaron Henry, will vote your shares in the manner recommended by our Board with respect to the three proposals included in this proxy statement and as such proxy holders may determine in accordance with their best judgment with respect to any other matters properly presented for a vote at the Annual Meeting.

Can I change my vote or revoke my proxy?

You have the power to change or revoke your proxy at any time before the polls close at the Annual Meeting. Only your latest-dated proxy counts. You may do this by:

submitting an authorized proxy bearing a later date using one of the alternatives described above under “How do I vote?”;

if you are a stockholder of record, submitting written notice of your revocation to Francis Aaron Henry, Chief Legal Officer and Corporate Secretary, at our mailing address on the cover page of this proxy statement; or

voting in person at the Annual Meeting, provided that if your shares are held in “street name” (in the name of a bank, broker or other nominee), you have obtained a legal proxy from your bank, broker or other nominee giving you the right to vote your shares in person at the Annual Meeting. Attendance at the Annual Meeting will not by itself constitute revocation of a proxy.

Who will count the votes?

A representative of Alliance Advisors, LLC will serve as inspector of elections and will tabulate the votes cast at the Annual Meeting and certify the results.

How can I obtain an additional proxy card?

If you lose, misplace or otherwise need to obtain a proxy card, and you are a stockholder of record, please contact our proxy solicitor, Alliance Advisors, toll-free at1-855-325-6671. If you are a beneficial owner of shares held indirectly through a broker, bank or other nominee, please contact your account representative at that organization.

What constitutes a “quorum?”

A “quorum” refers to the number of shares that must be represented at a meeting in order to lawfully conduct business. Holders of a majority in voting power of all issued and outstanding shares of common stock entitled to vote at the Annual Meeting, present in person or represented by proxy, will constitute a quorum at the Annual Meeting. Without a quorum, no business may be transacted at the Annual Meeting. Abstentions and brokernon-votes (as described below) are counted as present and entitled to vote for purposes of determining the presence or absence of a quorum.

What is a “brokernon-vote” and how is it treated?

If you are a beneficial owner of shares held in “street name” by a broker and you do not submit voting instructions to your broker, your broker may vote your shares at the Annual Meeting only on “routine matters” (as defined by NYSE rules) on which it has discretion to vote. The NYSE currently considers only Proposal 3 — the proposal to ratify the selection of PwC as our independent registered public accounting firm for the fiscal year ending December 31, 2020 — to be a “routine matter.” The following proposals are considered“non-routine matters” under the NYSE rules:

OTHER MATTERS

The sole business that may be considered at the Special Meeting are the matters set forth in the Notice of Special Meeting accompanying this Proxy Statement.

STOCKHOLDER PROPOSALS

Requirements for Director Nominations and Stockholder Proposals to be Brought Before an Annual Meeting. In order for a director nomination or a proposal by you or a fellow stockholder to be considered properly brought before an annual meeting, the stockholder must have given timely notice in writing to our Corporate Secretary. A stockholder’s notice to our Corporate Secretary shall set forth certain information concerning the stockholder and each director nomination or proposal, as specified in Section 2.10 of our Bylaws, and must comply with the other requirements specified in Section 2.10 of our Bylaws. To be timely for the 2021 annual meeting of stockholders, the notice must be delivered to our Corporate Secretary at our principal executive offices not earlier than the close of business on December 29, 2020, nor later than the close of business on January 28, 2021.

Requirements for Stockholder Proposals to be Considered for Inclusion in our Proxy Materials. Stockholders interested in submitting a proposal for inclusion in the proxy statement for our 2021 annual meeting of stockholders may do so by following the procedures prescribed in Rule 14a-8 under the Exchange Act. The proposal must be received by us at our principal executive offices not later than November 19, 2020, in order to be considered for inclusion in our proxy materials for the 2021 annual meeting of stockholders.

HOUSEHOLDING OF PROXY STATEMENT

The Company will not provide householding in connection with the solicitation of proxies.

WHERE YOU CAN FIND MORE INFORMATION

We are required to file annual, quarterly and current reports, proxy statements and other information with the SEC. You may obtain any document we file without charge through the SEC website at www.sec.gov, on our website at https://investor.corelogic.com or upon written request to CoreLogic, Inc., 40 Pacifica, Suite 900, Irvine, California 92618, Attention: Corporate Secretary. Exhibits will be provided upon request.

We appreciate your support and encouragement.

 

the election to the Board of the 12 director nominees named in this proxy statement; and

the proposal to approve, on an advisory basis, the compensation of our NEOs.

Accordingly, if your shares are held in “street name” and your broker has not received voting instructions from you, your broker may exercise its discretion to vote your shares on the proposal to ratify the selection of PwC as our independent registered public accounting firm, but will not be permitted to vote your shares on any of the

other proposals at the Annual Meeting. If your broker exercises this discretion, your shares will be treated as present and entitled to vote at the Annual Meeting for purposes of establishing the presence or absence of a quorum and voted on the proposal to ratify the selection of PwC in the manner directed by the broker, but will constitute “brokernon-votes” on each of the other proposals at the Annual Meeting. These brokernon-votes will not be counted in determining the outcome of any of the other proposals.

How are abstentions treated?

For the election of directors, you may vote “for,” “against,” or “abstain” with respect to each director nominee. If you elect to “abstain” from the election of directors, the abstention will not have any effect on the election of directors. In determining the voting results for the election of directors, only “for” and “against” votes count.

For purposes of the proposals regarding the vote to approve, on an advisory basis, the compensation of our NEOs, and the vote to ratify the selection of PwC as our independent registered public accounting firm for the fiscal year ending December 31, 2020, abstentions are treated as present and entitled to vote. Therefore, with respect to each of these proposals, abstentions have the effect of votes “AGAINST” the proposal.

Who is paying the cost of preparing, assembling and mailing the notice of the annual meeting of stockholders, proxy statement and form of proxy, and the solicitation of the proxies?

We will pay the costs associated with the preparation, assembly and mailing of the Notice, proxy statement and form of proxy, as well as the cost of soliciting proxies relating to the annual meeting. We will also pay brokers, banks and other nominees for the reasonable expenses of forwarding solicitation materials to their customers who own shares of our common stock. In addition to this proxy statement, our directors, officers and other regular administrative employees may solicit proxies. None of them will receive any additional compensation for such solicitation. We may conduct further solicitations of stockholders by telephone,e-mail, through press releases issued by us, advertisements in periodicals or postings on our website atwww.corelogic.com through our officers, directors and employees, none of whom will receive additional compensation for assisting with the solicitation. We have also retained Alliance Advisors to assist in the solicitation of proxies and related services, for a fee estimated to be approximately $19,500 plus an amount to cover expenses. In addition, we have agreed to indemnify Alliance Advisors against certain liabilities arising out of or in connection with the engagement.

How do I obtain a separate set of proxy materials if I share an address with other stockholders?

To reduce expenses, in some cases, we are delivering one set of proxy materials to certain stockholders who share an address, unless otherwise requested. Upon oral or written request, we will deliver promptly a separate copy of the proxy materials to a stockholder at a shared address to which a single copy of proxy materials was delivered. If you are a stockholder of record at a shared address to which we delivered a single copy of the proxy materials and you desire to receive a separate copy of the proxy materials, including our 2019 Annual Report, for the Annual Meeting or for our future meetings of stockholders, or if you are a stockholder at a shared address to which we delivered multiple copies of the proxy materials and you desire to receive one copy in the future, please submit your request to:

ALLIANCE ADVISORS, LLC

200 Broadacres Drive, 3rd Floor

Bloomfield, New Jersey 07003

Stockholders May Call Toll-Free:855-325-6671

If you hold your shares through a broker, bank or other nominee, please contact your broker, bank or other nominee directly if you have questions, require additional copies of the proxy materials, or wish to request single or multiple copies of the proxy materials in the future.

Where can I find the voting results of the Annual Meeting?

We will announce preliminary voting results as soon as possible after the Annual Meeting. If final voting results are not available to us in time to file a Current Report onForm 8-K with the SEC within four business days after the Annual Meeting, we intend to file with the SEC a Current Report onForm 8-K to disclose preliminary voting results and, within four business days after the final results are known, we will file an amendment to thatForm 8-K to disclose the final voting results.

Whom can I contact if I have questions or need assistance in voting my shares, or if I need additional copies of the proxy materials?

Please contact Alliance Advisors, the firm assisting the Board in the solicitation of proxies, at:

ALLIANCE ADVISORS, LLC

200 Broadacres Drive, 3rd Floor

Bloomfield, New Jersey 07003

Stockholders May Call Toll-Free:855-325-6671

STOCKHOLDER PROPOSALS

Requirements for Director Nominations and Stockholder Proposals to be Brought Before an Annual Meeting. In order for a director nomination or a proposal by you or a fellow stockholder to be considered properly brought before an annual meeting, the stockholder must have given timely notice in writing to our Secretary. A stockholder’s notice to our Secretary shall set forth certain information concerning the stockholder and each director nomination or proposal, as specified in Section 2.10 of our Bylaws, and must comply with the other requirements specified in Section 2.10 of our Bylaws. To be timely for the 2021 annual meeting of stockholders, the notice must be delivered to our Corporate Secretary at our principal executive offices not later than the close of business on December 29, 2020 nor earlier than the close of business on January 28, 2021.

Requirements for Stockholder Proposals to be Considered for Inclusion in our Proxy Materials. Stockholders interested in submitting a proposal for inclusion in the proxy statement for our 2021 annual meeting of stockholders may do so by following the procedures prescribed inRule 14a-8 under the Exchange Act. The proposal must be received by us at our principal executive offices not later than November 19, 2020 in order to be considered for inclusion in our proxy materials for the 2021 annual meeting of stockholders.

GENERAL INFORMATION

We will, upon the written request of any stockholder on the record date for the Annual Meeting, furnish without charge a copy of our Annual Report onForm 10-K filed with the SEC for the fiscal year ended December 31, 2019 and will furnish, at a charge of $10, a copy of the exhibits thereto. Such request should contain a representation that the person requesting this material was a beneficial owner of our shares on the record date. Such request should be sent to the Chief Legal Officer at our address indicated on the first page of this proxy statement.

The Board is not aware of any matters to come before the Annual Meeting other than those set forth on the notice accompanying this proxy statement. If any other matters come before the Annual Meeting, the holders of the proxies will vote thereon in accordance with their best judgment.

By Order of the Board of Directors,

LOGO

 

Francis Aaron Henry
Chief Legal Officer and Corporate Secretary
Irvine, California
[●], 2020

APPENDIX A TO PROXY STATEMENT

ADDITIONAL INFORMATION REGARDING PARTICIPANTS IN THE SOLICITATION

Under applicable SEC rules and regulations, members of the Board, certain officers and certain other employees of the Company are considered “participants” with respect to the Company’s solicitation of proxies. The following sets forth certain information about the persons who are considered “participants.”

1. Directors

The principal occupations or employment of the Company’s directors are set forth above in the section of this Proxy Statement entitled “Directors of the Company.” The names of the Company’s directors are set forth below, and the business address for all directors is 40 Pacifica, Irvine, California 92618.

Name

J. David Chatham

Douglas C. Curling

John C. Dorman

Paul F. Folino

Frank D. Martell

Claudia Fan Munce

Thomas C. O’Brien

Pamela H. Patenaude

Vikrant Raina

J. Michael Shepherd

Jaynie Miller Studenmund

David F. Walker

2. Certain Officers and Other Employees

The following table sets forth the name and principal occupation of the Company’s officers and certain employees who are considered “participants.” The principal occupation refers to such person’s position with the Company, and the principal business address of each such person is 40 Pacifica, Irvine, California 92618.

NamePrincipal Occupation

LOGOFrank D. Martell

President and Chief Executive Officer

James L. Balas

Chief Financial Officer

Francis Aaron Henry

Chief Legal Officer and Corporate Secretary

Irvine, CaliforniaDaniel L. Smith

Investor Relations

3. Information Regarding Ownership of the Company’s Securities by Participants

Except as described in this Appendix A or in this Proxy Statement, none of the persons listed above under “Directors” or “Certain Officers and Other Employees” owns any Company securities of record that they do not own beneficially. The number of Company securities beneficially owned by directors and named executive officers as of September 4, 2020 is set forth under the heading “Security Ownership of Certain Beneficial Owners” in this Proxy Statement. The number of Company securities beneficially owned by the Company’s other officers and employees who are considered “participants” as of September 4, 2020 is set forth below.

NameCompany Securities��Owned

Daniel L. Smith

11,655

4. Information Regarding Transactions in the Company’s Securities by Participants

The following table sets forth purchases and sales of the Company’s securities during the past two years by the Board and certain officers and certain other employees of the Company that are “participants” with respect to the solicitation of proxies. None of the purchase price or market value of the securities listed below is represented by funds borrowed or otherwise obtained for the purpose of acquiring or holding such securities.

Company Securities Purchased or Sold (7/1/2018 through 9/4/2020)

Name

  

Date

  

# of Shares

   

Transaction
Description

 

James L. Balas

  6/15/2020   181    3 
  5/15/2020   (2,000   2 
  5/15/2020   2,000    5 
  5/15/2020   (2,000   2 
  5/15/2020   2,000    5 
  3/6/2020   (7,541.062   6 
  3/2/2020   15,323.897    4 
  3/2/2020   (5,885.886   6 
  3/2/2020   11,065    3 
  2/14/2020   (4,000   2 
  2/14/2020   4,000    5 
  1/24/2020   186.133    3 
  12/6/2019   (1,732   2 
  12/6/2019   1,732    5 
  12/6/2019   268    5 
  12/6/2019   (268   2 
  11/13/2019   2,000    5 
  11/13/2019   (2,000   2 
  8/19/2019   4,000    5 
  8/19/2019   (4,000   2 
  3/7/2019   (6,781   6 
  3/4/2019   15,797    4 
  3/1/2019   (3,338   6 
  3/1/2019   12,632    3 
  2/28/2019   1,996    6 

Name

  

Date

   

# of Shares

   

Transaction
Description

 

J. David Chatham

   6/15/2020    19    1 
   6/9/2020    3,958    5 
   6/9/2020    (3,958   2 
   4/28/2020    4,160    1 
   3/6/2020    (7000   2 
   1/24/2020    19.088    1 
   8/7/2019    (5,650   2 
   6/11/2019    (3,190   2 
   4/30/2019    3,939    1 
   8/10/2018    3,190    5 
   8/10/2018    (3,190   2 

Douglas C. Curling

   6/15/2020    19    1 
   4/28/2020    4,160    1 
   1/24/2020    19.088    1 
   04/30/2019    3,939    1 
   4/29/2019    (15,000   2 

John C. Dorman5

   6/15/2020    19    1 
   6/3/2020    (3,190   2 
   4/28/2020    4,160    1 
   1/24/2020    19.088    1 
   4/30/2019    3,939    1 
   11/15/2018    (8,723   2 

Paul F. Folino

   6/15/2020    19    1 
   5/7/2020    (1,800   2 
   4/28/2020    4,160    1 
   3/10/2020    (650   2 
   1/24/2020    19.088    1 
   8/16/2019    (1,100   2 
   4/30/2019    3,939    1 
   4/26/2019    (3,750   2 
   8/14/2018    (3,400   2 

Francis Aaron Henry

   6/15/2020    45    3 
   3/2/2020    9,836    3 

Frank D. Martell

   6/15/2020    759    3 
   4/29/2020    (7,500   2 
   3/16/2020    (2,187.023   6 
   3/6/2020    (28,802.816   6 
   3/2/2020    62,512.462    4 
   3/2/2020    (21,572.676   6 
   3/2/2020    46,593    3 
   1/24/2020    748.001    3 
   1/8/2020    (7,500   2 
   10/8/2019    (7,500   2 
   7/8/2019    (7,500   2 
   3/14/2019    (2,176   6 
   3/7/2019    (24,180   6 
   3/4/2019    60,694    4 
   3/1/2019    (12,856   6 
   3/1/2019    52,659    3 
   2/28/2019    (5,097   6 
   2/21/2019    (4,900   2 
   2/20/2019    (5,100   2 
   11/15/2019    (10,000   2 
   8/15/2018    (10,000   2 

5

John Dorman also donated 2,195 shares on March 19,9, 2020,

CORPORATE SOCIAL RESPONSIBILITY

At CoreLogic, corporate social responsibility is which has not just ‘the right thingyet been reflected in a Form 4 filing.

Name

  

Date

  

# of
Shares

   

Transaction
Description

 

Claudia Fan Munce

  6/15/2020   37    1 
  4/28/2020   4,160    1 
  1/24/2020   19.088    1 
  4/30/2019   3,939    1 

Thomas C. O’Brien

  6/15/2020   19    1 
  4/28/2020   4,160    1 
  1/24/2020   19.088    1 
  4/30/2019   3,939    1 

Pamela H. Patenaude

  6/17/2020   2,964    1 

Vikrant Raina

  6/15/2020   19    1 
  4/28/2020   4,160    1 
  1/24/2020   19.088    1 
  10/29/2019   2,500    5 
  4/30/2019   3,939    1 

J. Michael Shepherd

  6/15/2020   19    1 
  4/28/2020   4,160    1 
  1/24/2020   16.679    1 
  6/21/2019   3,442    1 

Daniel L. Smith

  3/20/2020   2,810.8    4 
  3/20/2020   2,810.9    1 
  3/20/2020   (611   6 
  3/6/2020   (893   2 
  5/1/2019   (1,435   2 
  3/20/2019   2,273.3    1 
  3/20/2019   2,277.4    4 
  3/20/2019   (620   6 
  3/8/2019   (3,778   2 
  3/7/2019   (1,116   2 

Jaynie M. Studenmund

  6/15/2020   64    1 
  4/28/2020   4,160    1 
  1/24/2020   68.224    1 
  4/30/2019   3,939    1 

David F. Walker

  6/15/2020   19    1 
  4/28/2020   4,160    1 
  1/24/2020   19.088    1 
  5/3/2019   (2,000   7 
  5/3/2019   (2,000   2 
  4/30/2019   3,939    1 

Transaction Key

1

Grant of RSUs (plus dividend equivalent rights accrued on previously awarded RSUs)

2

Disposition of Common Stock

3

Grant of time-vested RSUs (plus dividend equivalent rights accrued on previously awarded time-vested RSUs)

4

Grant of PBRSUs (plus dividend equivalents earned on the credited PBRSUs)

5

Acquisition of Common Stock

6

Forfeiture to do’, it’s an essential enabler of our vision — powering the global real estate economy, one household at a time.

Information is at the core of smart decision making. CoreLogic uses the power of information, technology and services to help businesses and consumers connect to improve lives and create a better world. This serves as the founding principle of our commitment to corporate social responsibility and is translated into action through our efforts to make a difference in the communities where we live and work. Our dedication to our communities includes global programs that draw on our people, products and resources to strengthen financial empowerment. We believe that access to education, financial literacy, and safe and affordable housing contribute to financial independence.

Investment in our communities.One of our CORE values is to make a meaningful difference through engagement in the communities where we live and work. We strive to support our communities through partnerships (including Operation HOPE, Marine Corps Scholarship Foundation, Habitat for Humanity, American Heart Association,cover taxes upon vesting and the Boys & Girls Clubsforfeiture of America), programs and initiatives that arebuilt-to-last. We encourage our employees to give back through volunteerism and we contribute through direct andin-kind giving, including providing our employees with up to 16 hoursthe fractional share portion of paid time off annually for volunteer service.dividend equivalents upon vesting

7

CommitmentContribution of Common Stock to a positive, diverse and inclusive experience for all employees.We are committed to maximizing the potential of our employees, our communities and the value we create for our stockholders. Diversity and inclusion are integral contributors to our business and workplace environment. We believe that fostering a respectful, rewarding, and inclusive culture is critical to winning in the workplace, in the marketplace and in the community. We demonstrate this by:charitable gift fund

Deploying industry-leading talent acquisition, development and career growth programs that elevate high-potential, diverse talent;

Acquiring a broad and varied candidate pool oftop-tier talent through targeted alliances with outreach partners including organizations focused on ethnic diversity, women and military veterans;

Sponsoringemployee-led networks that inspire personal and professional development and serve as conduits for diversity initiatives and driving an inclusive culture;

Partnering with and supporting schools and organizations to provide access to formal education, training and experiences that inspire and promote interest in future data and technology roles;

Encouraging and supporting mentoring opportunities to champion talent and broaden development opportunities for our workforce; and

Holding ourselves accountable for delivering on our goals through effective governance.

CoreLogic is an Equal Employment Opportunity employer.We are committed to providing a workplace environment free from discrimination and harassment. We advance this agenda through onboarding and training for all employees, consistent administration of related employment practices and policies, and alignment of expectations and communications to all vendors and supplier partners.

We are steadfast in our investment in bridging community and business goals to discover strategic solutions on a global stage and to continue to explore innovative ways to drive societal progress that strengthens our communities and influences positive and lasting change.

Commitment to Environmental Matters in Our Real Estate Footprint. Approximately 60% of our North American operating footprint is within LEED certified facilities, and our primaryoff-shore facilities are equivalently certified.

APPENDIX A – UNAUDITED RECONCILIATION OFNON-GAAP FINANCIAL MEASURES

This proxy statement contains certainnon-GAAP financial measures, such as adjusted EBITDA, adjusted EPS and FCF, which are provided only as supplemental information. The Company uses thesenon-GAAP adjusted financial measures to evaluate the Company’s operating and financial performance and for planning purposes, and as performance measures in its executive compensation program. Adjusted EBITDA is defined as net income from continuing operations adjusted for interest, taxes, depreciation and amortization, share-based compensation,non-operating gains/losses, and other adjustments. Adjusted EPS is defined as diluted income from continuing operations, net of tax per share, adjusted for share-based compensation, amortization of acquisition-related intangibles,non-operating gains/losses, and other adjustments; and assumes an effective tax rate of 25% and 26% for 2019 and 2018, respectively. FCF is defined as net cash provided by continuing operating activities, less capital expenditures for purchases of property and equipment, capitalized data and other intangible assets. Investors should consider thesenon-GAAP financial measures only in conjunction with the most directly comparable GAAP financial measures. Thesenon-GAAP measures are not in accordance with or a substitute for U.S. GAAP. Other firms may calculatenon-GAAP measures differently than CoreLogic, which limits comparability between companies.

CORELOGIC, INC.

RECONCILIATION OF ADJUSTED EBITDA

UNAUDITED

   For the Year Ended December 31, 2019 

(in thousands)

  PIRM   UWS   Corporate   Elim   CoreLogic   

Net income/(loss) from continuing operations

  $68,750   $218,034   $(219,934  $   $66,850 

Income taxes

           9,375        9,375 

Depreciation and amortization

   102,586    55,738    29,392        187,716 

Interest expense, net

   37    269    75,851        76,157 

Share-based compensation

   6,746    6,763    22,783        36,292 

Impairment loss

       47,912            47,912 

Non-operating losses

   3,961    8,466    13,739        26,166 

Efficiency investments

   3,526    6,501    29,561        39,588 

Transaction costs

   6,448    359    392        7,199 

Amortization of acquired intangibles included in equity in earnings of affiliates

   306                306 

Adjusted EBITDA

  $192,360   $344,042   $(38,841  $   $497,561 

   For the Year Ended December 31, 2018 

(in thousands)

  PIRM   UWS   Corporate   Elim   CoreLogic   

Net income/(loss) from continuing operations

  $102,725   $238,424   $(218,698  $   $122,451 

Income taxes

           46,187        46,187 

Depreciation and amortization

   103,343    65,381    23,272        191,996 

Interest expense, net

   735    305    72,934        73,974 

Share-based compensation

   5,421    7,885    23,890        37,196 

Impairment loss

       7,721            7,721 

Non-operating gains

   (17,220       (2,483       (19,703

Efficiency investments

   2,143    1,058    17,802        21,003 

Transaction costs

   6,559        4,792        11,351 

Amortization of acquired intangibles included in equity in earnings of affiliates

   909                909 

Adjusted EBITDA

  $204,615   $320,774   $(32,304  $   $493,085 

CORELOGIC, INC.

RECONCILIATION OF ADJUSTED EPS

UNAUDITED

     For the Year Ended December 31,   

(diluted income per share)

  2019   2018 

Net income from continuing operations

  $0.83   $1.49 

Share-based compensation

   0.45    0.45 

Non-operating losses/(gains)

   0.32    (0.24

Efficiency investments

   0.49    0.26 

Impairment loss

   0.59    0.09 

Transaction costs

   0.09    0.14 

Depreciation and amortization of acquired software and intangibles

   0.89    0.93 

Amortization of acquired intangibles included in equity in earnings of affiliates

       0.01 

Income tax effect on adjustments

   (0.83   (0.41

Adjusted EPS

  $2.83   $2.72 

CORELOGIC, INC.

RECONCILIATION OF FREE CASH FLOW

UNAUDITED

(in thousands)

  

  For the Year Ended  

December 31, 2019

 

Net cash provided by operating activities — continuing operations

  $389,023 

Purchases of property and equipment

   (91,572

Purchases of capitalized data and other intangible assets

   (40,019

Free cash flow

  $257,432 

(in thousands)

  

  For the Year Ended  

December 31, 2018

 

Net cash provided by operating activities — continuing operations

  $355,118 

Purchases of property and equipment

   (62,304

Purchases of capitalized data and other intangible assets

   (35,075

Free cash flow

  $257,739 

LOGO

From San Diego: Take I-5 north, transition to I-405 north. Exit Irvine Center Dr., keep to the left at the fork in the ramp. Turn left from the center lane on Enterprise, then turn right onto Irvine Center Dr. Take the first left onto Pacifica. Take the first left at the driveway between the two buildings.

From Los Angeles: Take I-5 south, exit at Alton Pkwy., keeping to the right, to take the ramp at Alton; slight right onto Enterprise. Turn left onto Alton Pkwy. Turn left onto Irvine Center Dr., then take the second right onto Pacifica. 40 Pacifica is on the left.

From Riverside: Take 91 west, transition to 55 south towards Newport Beach. Merge onto I-5 south towards San Diego. Take the exit at Alton Pkwy., keeping to the right, to take the ramp at Alton; slight right onto Enterprise. Turn left onto Alton Pkwy. Turn left onto Irvine Center Dr., then take the second right onto Pacifica. 40 Pacifica is on the left.

When you arrive, take a ticket and proceed into the parking garage. CoreLogic visitors parking is to the right.

29-PROXY2020-0320-00


LOGO

40 Pacifica, Ste. 900

Irvine, CA 92618

corelogic.com

5. Miscellaneous Information Concerning Participants

Except as described in this Appendix A or in this Proxy Statement, neither any participant nor any of their respective associates or affiliates (together, the “Participant Affiliates”) is either a party to any transaction or series of transactions since January 1, 2019, or has knowledge of any current proposed transaction or series of proposed transactions (i) to which the Company or any of its subsidiaries was or is to be a participant, (ii) in which the amount involved exceeds $120,000 and (iii) in which any participant or Participant Affiliate had, or will have, a direct or indirect material interest. Furthermore, except as described in this Appendix A or in this Proxy Statement, (a) no participant or Participant Affiliate, directly or indirectly, beneficially owns any securities of the Company or any securities of any subsidiary of the Company, and (b) no participant owns any securities of the Company of record but not beneficially.

Except as described in this Appendix A or in this Proxy Statement, no participant or Participant Affiliate has entered into any agreement or understanding with any person with respect to (i) any future employment by the Company or any of its affiliates or (ii) any future transactions to which the Company or any of its affiliates will or may be a party.

Except as described in this Appendix A or in this Proxy Statement, there are no contracts, arrangements or understandings by any participant or Participant Affiliate since January 1, 2019 with any person with respect to any securities of the Company, including, but not limited to, joint ventures, loan or option arrangements, puts or calls, guarantees against loss or guarantees of profit, division of losses or profits, or the giving or withholding of proxies.

Except as described in this Appendix A or in this Proxy Statement, and excluding any director or executive officer of the Company acting solely in that capacity, no person who is a party to an arrangement or understanding pursuant to which a nominee for election as director is proposed to be elected has any substantial interest, direct or indirect, by security holdings or otherwise, in any matter to be acted upon at the Special Meeting or any matter that was acted upon at the 2020 Annual Meeting.

APPENDIX B TO THE PROXY STATEMENT

CERTAIN INFORMATION REGARDING THE SENATOR AND CANNAE NOMINEES

The information set forth in this Appendix B regarding the Senator and Cannae Nominees is based solely on information contained in the Senator and Cannae Solicitation Statement and information provided to the Company by Senator and Cannae, including the director nominee questionnaires provided to the Company by Senator and Cannae on behalf of each of the Senator and Cannae Nominees. The incorporation of this information in this Appendix B should not be construed as a representation by the Company that such information is accurate, and the Company does not undertake any obligation to update such information.

Set forth below are the name, age, business address, present principal occupation, and employment and material occupations, positions, offices, or employments for the past five years of each of the Senator and Cannae Nominees.

1. W. Steve Albrecht

W. Steve Albrecht was the Gunnel Endowed Professor in the Marriott School of Management at Brigham Young University until his retirement in 2017, where he also previously served as Associate Dean. He is a Certified Public Accountant, Certified Internal Auditor, and Certified Fraud Examiner. He currently serves on the Board of Directors and as Chair of the Audit & Finance Committee of SkyWest, Inc. Previously he was Chairman of Cypress Semiconductor Corporation (NASDAQ: CY) and a director and Chair of the Audit Committee of RedHat, Inc. (NYSE: RHT). Mr. Albrecht is a former President of the American Accounting Association and Association of Certified Fraud Examiners.

Mr. Albrecht holds a bachelor of science degree from Brigham Young University, and a master’s degree in Business Administration and a doctorate degree in Accounting from the University of Wisconsin.

Mr. Albrecht’s business address is 223 E. 200 N., Bicknell, Utah 84715.

2. Martina Lewis Bradford

Since May 2015, Martina Lewis Bradford has served as the Founder & Chief Executive Officer of Palladian Hill Strategies, a government relations firm. Ms. Bradford previously served as Vice President for Government Affairs at AT&T (NYSE: T) and Corporate Vice President for Global Public Affairs at Lucent Technologies (NYSE: LU). During her career in Washington, she also served as Chief of Staff to the Vice Chairman of the Interstate Commerce Commission. Prior to that, she served as Counsel on both the Senate Governmental Affairs Committee and the House Appropriations Committee and as an attorney-adviser at the Interstate Commerce Commission. Ms. Bradford has served on several corporate and nonprofit boards, including the Board of Directors of Cadmus Communications Corp. (NASDAQ: CDMS), the Board of Trustees of American University, and the Board of Visitors at Duke University Law School.

Ms. Bradford is a graduate of Duke University School of Law and American University with a B.A. in Economics.

Ms. Bradford’s business address is 300 New Jersey Avenue, NW, Suite 900, Washington, DC 20001.

3. Gail Landis

Gail Landis was a founding partner of Evercore Asset Management, LLC, where she served as managing principal from 2005 until her retirement in December 2011. She has been on the Board of Directors of Morningstar (NASDAQ: MORN) since 2013. Ms. Landis was previously Head of Distribution for the Americas

for Credit Suisse Asset Management, the asset management division of Credit Suisse Group AG (NYSE: CS) and held senior roles with Sanford C. Bernstein & Co., Inc. and its successor company AllianceBernstein L.P. (NYSE: AB).

She holds a bachelor’s degree in East Asian studies from Boston University and a master’s degree in business administration from New York University’s Stern School of Business.

Ms. Landis’ business address is 290 West End Ave., New York, New York 10023.

4. Wendy Lane

Wendy Lane has served as Chairman of Lane Holdings, Inc., an investment firm, since 1992. Previously, she was a Principal and Managing Director of Donaldson, Lufkin and Jenrette Securities Corporation and an investment banker at Goldman, Sachs & Co (NYSE: GS).

Ms. Lane has served on the Board of Directors and as Chairman of the Compensation Committee of Willis Tower Watson (Nasdaq: WLTW) since 2016. Her prior Board of Director experience includes, among others, MSCI, Inc. (NYSE: MSCI), where she served on the Compensation Committee, Laboratory Corporation of America, where she served on the Nominating and Corporate Governance Committee and chaired the Audit and Compensation Committees, and UPM Kymmene Corporation (OTCMKTS: UPMMY), a Finnish public company, where she served on the Audit Committee.

Ms. Lane holds a BA from Wellesley College in Mathematics and French and an MBA from Harvard Business School.

Ms. Lane’s business address is 348 Grove St., Needham, Massachusetts 02492.

5. Ryan McKendrick

Ryan McKendrick served as President and Chief Executive Officer for AMCOL International (NYSE: ACO) from 2011 to 2014, when Mr. McKendrick retired. He previously served at AMCOL as President, Executive Vice President, and Manager of International Sales. Prior to that, he was Vice President-General Manager for Waste Management of North America (NYSE: WM). Previously, he had held various roles at American Colloid Co. since 1977.

Mr. McKendrick holds a bachelor’s degree in chemistry from Northwestern University and a Master’s of Business Administration, Marketing, from Northwestern’s Kellogg Graduate School of Management in Evanston, Illinois.

Mr. McKendrick’s business address is 170 S. Orchard Circle, Lake Forest, IL 60045.

6. Katherine “KT” Rabin

Katherine “KT” Rabin was the Chief Executive Officer at Glass, Lewis & Co., an independent provider of global governance services, from 2007 to 2019. Before joining Glass Lewis, Ms. Rabin was Vice President of Investor Relations and Communications QRS Corporation (NASDAQ: QRSI), a supply chain management company, and Director of Research at OTR Global, an independent investment research firm. Ms. Rabin serves as a member of the Glass Lewis Research Advisory Council and the Advisory Board of the Millstein Center for Global Markets and Corporate Ownership.

Ms. Rabin received a Bachelor of Arts degree in Latin American Studies from the University of California at Berkeley in 1985.

Ms. Rabin’s business address is 544 Chapman Drive, Corte Madera, CA 94925.

7. Sreekanth Ravi

Sreekanth Ravi has served as the Co-Founder and Executive Chairman of the Board of Directors of RSquared since 2018, a cloud-based artificial intelligence (AI) platform in the Workforce Intelligence market. Previously, Mr. Ravi was the Co-Founder, Chairman, and Chief Executive Officer of Tely, a video-conferencing company and was the Co-Founder, Chairman, and Chief Executive Officer of Code Green Networks, a maker of data-loss prevention and content security solutions that resulted in a successful sale to Digital Guardian in 2015. Prior to that, Mr. Ravi was Co-Founder, Chief Executive Officer, and Chairman of SonicWall (NASDAQ: SNWL).

Mr. Ravi earned a B.S. in Electrical Engineering from the University of Illinois in Urbana-Champaign.

Mr. Ravi’s business address is PO BOX 2045, Menlo Park, California 94026.

8. Lisa Wardell

Lisa Wardell is the Chairman and Chief Executive Officer of Adtalem Global Education Inc. (NYSE: ATGE), a workforce solutions provider. Prior to joining Adtalem, she was Executive Vice President and Chief Operating Officer for The RLJ Companies where she was responsible for managing the company portfolio, including strategic partnerships, mergers and acquisitions, business strategy, operations, and finance. Ms. Wardell currently serves on the Board of Directors of Lowe’s Companies (NYSE: LOW), as well as THINK450, the innovation engine of the National Basketball Players Association.

Ms. Wardell earned her bachelor’s degree from Vassar College and her law degree from Stanford Law School. She earned her MBA in finance and entrepreneurial management from the Wharton School of Business at the University of Pennsylvania.

Ms. Wardell’s business address is 500 West Monroe, Suite 280, Chicago IL 60615.

9. Henry W. “Jay” Winship

Henry W. “Jay” Winship has served as President of Pacific Point Capital, a privately-owned asset management firm, since 2016. Prior to founding Pacific Point Capital, Mr. Winship was a Principal, Senior Managing Director, and Investment Committee Member of Relational Investors LLC, a $6 billion investment fund. He is a Certified Public Accountant and Chartered Financial Analyst. Mr. Winship currently serves on the Board of Directors and as Chair of the Audit Committee of Bunge Limited (NYSE: BG). He was previously on the Board of Directors of Esterline Technologies Corporation (NYSE: ESL) and Excel National Bank. Mr. Winship is on the Board of Advisors of the Corporate Governance Institute at San Diego State University Fowler College of Business.

Mr. Winship holds a BS in finance from of the University of Arizona and an MBA from the University of California, Los Angeles. He is a Certified Public Accountant and holds the professional designation of Chartered Financial Analyst.

Mr. Winship’s business address is 16236 San Dieguito Road, Ste. 5-14, PO Box 8614, Rancho Santa Fe, California 92067.

Additional Information about the Senator and Cannae Nominees

Each Senator and Cannae Nominee named herein has consented to be named in this Proxy Statement and to serve as a director of the Company, if appointed. If appointed, each of these Senator and Cannae Nominees would serve as a director for a term ending at the Company’s annual meeting in 2021 and until a successor has been elected and qualified.

Based solely on the Senator and Cannae Solicitation Statement and information provided to the Company by Senator and Cannae, including the director nominee questionnaires provided to the Company by Senator and Cannae on behalf of each of the Senator and Cannae Nominees, (a) none of the Senator and Cannae Nominees is a current or former officer of the Company and none of the Senator and Cannae Nominees was an employee of the Company during fiscal year 2019; (b) during fiscal year 2019, no executive officer of the Company served as a member of the compensation committee (or other board committee performing equivalent functions or, in the absence of any such committee, the entire board of directors) of another entity of which any Senator and Cannae Nominee was an executive officer; (c) there exist no interlocking relationships that would have required disclosure under Item 407(e)(4) of Regulation S-K, had the Senator and Cannae Nominees been directors of the Company; and (d) there exist no family relationships between any Senator and Cannae Nominee and any director or executive officer of the Company.

If appointed, the Senator and Cannae Nominees will be entitled to such compensation from the Company as may be determined by the Company for non-employee directors. The compensation package for non-management directors of the Company for the Company’s fiscal year ended December 31, 2019 consisted of: (a) an annual retainer of $80,000; (b) restricted stock units with an aggregate fair market value equal to $160,000; (c) a fee of $2,000 per board meeting and committee meeting attended, in excess of eight meetings of the Board, Audit Committee and Compensation Committee, and in excess of four meetings of the Nominating and Corporate Governance Committee and Strategic Planning and Acquisition Committee; (d) an annual retainer of $100,000 for the non-management Chairman of the Board; (e) a $25,000 annual retainer for the audit committee chair and a $15,000 annual retainer for each member of the audit committee; (f) a $20,000 annual retainer for the compensation committee chair and a $10,000 annual retainer for each member of the compensation committee; (g) a $15,000 annual retainer for the nominating and corporate governance committee chair and a $7,500 annual retainer for each member of the nominating and corporate governance committee; and (h) a $12,500 annual fee for the strategic planning and acquisition committee chair and a $5,000 annual retainer for each member of the strategic planning and acquisition committee. Such compensation for the fiscal year ending December 31, 2019 is described in the Company’s proxy statement filed in connection with the 2020 Annual Meeting. If appointed, the Company plans to indemnify the Senator and Cannae Nominees for serving as a director of the Company to the same extent indemnification is provided to the current directors of the Company and the Senator and Cannae Nominees will be covered by the Company’s director and officer liability insurance.

Based solely on the Senator and Cannae Solicitation Statement and information provided to the Company by Senator and Cannae, including the director nominee questionnaires provided to the Company by Senator and Cannae on behalf of each of the Senator and Cannae Nominees, none of the Senator and Cannae Nominees (a) beneficially owns any shares of capital stock or other securities of the Company or (b) has had any transactions with respect to the Company’s securities during the past two years.

Based solely on the Senator and Cannae Solicitation Statement and information provided to the Company by Senator and Cannae, including the director nominee questionnaires provided to the Company by Senator and Cannae on behalf of each of the Senator and Cannae Nominees, other than as disclosed herein, (a) no Senator and Cannae Nominee or any associate of a Senator and Cannae Nominee is a party adverse to the Company or any of its subsidiaries or has a material interest adverse to the Company or any of its subsidiaries in any material proceeding, (b) there is no event that occurred during the past 10 years with respect to any of the Senator and Cannae Nominees that is required to be described under Item 401(d) or 401(f) of Regulation S-K, and (c) no Senator and Cannae Nominee has any Disclosable Interest as such term is defined in Article II, Section 2.10(a)(ii)(D)(10) of the Bylaws.

LOGO

 

29-PROXY2020-0320-00

NYSE: CLGX

© 2020 CoreLogic, Inc. All rights reserved.


LOGO

ANNUAL MEETING OF STOCKHOLDERS

April 28, 2020, 2:00 p.m. Pacific Time

This proxy is solicited by CoreLogic’s Board of Directors.

The undersigned stockholder(s) of CoreLogic, Inc. hereby revoke(s) all previously granted proxies and appoint(s) Frank D. Martell and Francis Aaron Henry, and each of them, as proxies for the undersigned, with power to act without the other and with power to each of substitution, and hereby authorize(s) them to attend the annual meeting of the stockholders of said corporation to be held April 28, 2020, at 2:00 p.m. Pacific Time, at the executive offices of CoreLogic, Inc., 40 Pacifica, Irvine, California 92618, and any postponements or adjournments thereof, and to vote all of the shares of common stock of CoreLogic, Inc. that the undersigned is/ are entitled to vote at such meeting as indicated on the reverse side hereof, with all powers that the undersigned would have if acting in person, and with discretionary authority to act on such other matters as may properly come before said meeting or any postponements or adjournments thereof.

THE SHARES OF COMMON STOCK REPRESENTED HEREBY SHALL BE VOTED SPECIFICALLY ON THE PROPOSALS LISTED ON THE REVERSE SIDE HEREOF AS THERE SPECIFIED. WHERE NO SPECIFICATION IS MADE, SAID SHARES OF COMMON STOCK SHALL BE VOTED “FOR” EACH OF THE DIRECTOR NOMINEES NAMED IN PROPOSAL 1 AND “FOR” PROPOSALS 2 AND 3.

YOUR VOTE IS IMPORTANT – PLEASE VOTE TODAY

Continued and to be signed and dated on reverse side

PRELIMINARY PROXY MATERIALS DATED 14, SUBJECT TO COMPLETION PLEASE VOTE TODAY! SEE REVERSE SIDE FOR THREE EASY WAYS TO VOTE. TO VOTE BY MAIL, PLEASE DETACH HERE, SIGN AND DATE PROXY CARD, AND RETURN IN THE POSTAGE-PAID ENVELOPE PROVIDED CORELOGIC, INC. SPECIAL MEETING OF STOCKHOLDERS NOVEMBER 17, 2020 This proxy is solicited by CoreLogic’s Board of Directors. The undersigned stockholder(s) of CoreLogic, Inc. hereby revoke(s) all previously granted proxies and appoint(s) Frank D. Martell and Francis Aaron Henry, and each of them, as proxies for the undersigned, with power to act without the other and with power to each of substitution, and hereby authorize(s) them to attend the special meeting of the stockholders of said corporation to be held November 17, 2020, at [0] [●] [a.m.]/[p.m.], [local time/Pacific Time], at [●], and any postponements or adjournments thereof, and to vote all of the shares of common stock of CoreLogic, Inc. that the undersigned is/are entitled to vote at such meeting as indicated on the reverse side hereof, with all powers that the undersigned would have if acting in person, and with discretionary authority to act on such other matters as may properly come before said meeting or any postponements or adjournments thereof. THE SHARES OF COMMON STOCK OF CORELOGIC, INC. REPRESENTED HEREBY SHALL BE VOTED SPECIFICALLY ON THE PROPOSALS LISTED ON THE REVERSE SIDE HEREOF AS THERE SPECIFIED. WHERE NO SPECIFICATION IS MADE, SAID SHARES OF COMMON STOCK SHALL BE VOTED AGAINST Proposal 1, AGAINST the removal of all directors named in Proposal 2, AGAINST the nomination of all individuals named in Proposal 3, and AGAINST Proposal 4. YOUR VOTE IS VERY IMPORTANT - PLEASE VOTE TODAY (Continued and to be marked, dated and signed on the other side) W H I T E P R O X YPLEASE DETACH ALONG PERFORATED LINE AND MAIL IN THE ENVELOPE PROVIDED.

Important Notice Regarding the Availability of Proxy Materials for the Annual

Meeting of Stockholders to be held April 28, 2020.

The Notice of Annual Meeting and Proxy Statement and our 2019 Annual Report

to Stockholders are available at:http://www.viewproxy.com/CoreLogic/2020


TO VOTE BY MAIL AS THE BOARD OF DIRECTORS RECOMMENDS ON EACH OF THE ITEMS BELOW, SIMPLY SIGN, DATE, AND RETURN THIS PROXY CARD. The Board of Directors recommends a vote FOR each of the nominees in Proposal 1 and FOR Proposals 2 and 3.

          Please mark

          your votes

          like this

LOGO

1. Election of directors:

FOR

AGAINST

ABSTAIN

01 J. David Chatham

02 Douglas C. Curling

03 John C. Dorman

04 Paul F. Folino

05 Frank D. Martell

06 Claudia Fan Munce

07 Thomas C. O’Brien

08 Vikrant Raina

09 J. Michael Shepherd

10 Jaynie Miller Studenmund

11 David F. Walker

12 Mary Lee Widener

2.

To approve, on an advisory basis, the compensation of the Company’s named executive officers.

FOR      AGAINST      ABSTAIN

LOGO

 

3.

To ratify the selection of PricewaterhouseCoopers LLP as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2020.

FOR      AGAINST      ABSTAIN

In their discretion, the proxies are authorized to vote upon such other business as may properly come before the meeting or any postponements or adjournments thereof.

I plan on attending the meeting

Please sign exactly as your name(s) appears on this proxy card. If held in joint tenancy, all persons should sign. Trustees, administrators, etc. should include title and authority. Corporations should provide full name of corporation and title of authorized officer signing this proxy card.

Date:

Signature

Signature (if held jointly)

                                                                                                                                 CONTROL NUMBER

                                                                                                        LOGO

PLEASE DETACH ALONG PERFORATED LINE AND MAIL IN THE ENVELOPE PROVIDED.

Vote by Internet, Telephone or Mail

24 Hours

YOUR VOTE IS IMPORTANT Please take a moment now to vote your Shares of Common Stock of CoreLogic, Inc. for the upcoming Special Meeting of Stockholders. YOU CAN VOTE TODAY IN ONE OF THREE WAYS: 1. Vote by Telephone - Call toll-free from the U.S. or Canada at (866)-860-0411 on a touch-tone telephone. If outside the U.S. or Canada, call +1(646)-880-9095. Please follow the simple instructions provided. You will be required to provide the unique control number printed below. OR 2. Vote by Internet - Please access https://www.proxyvotenow.com/clgx and follow the simple instructions provided. Please note you must type an “s” after http. You will be required to provide the unique control number printed below. CONTROL NUMBER: You may vote by telephone or Internet 24 hours a day, 7 days a week. Your telephone or Internet vote authorizes the named proxies to vote your shares in the same manner as if you had signed and mailed a Day, 7 Days a Week

                      CONTROL  NUMBER

LOGO

PROXY VOTING INSTRUCTIONS

Please have your 11 digit control number ready when voting by Internet or Telephone.

Internet and telephone voting is available through 11:59 P.M. Eastern Time on April 27, 2020.

LOGO

LOGO

LOGO

INTERNET

TELEPHONE

MAIL

Vote Your Proxy on the Internet:

Go towww.AALvote.com/CLGX

Vote Your Proxy by Phone:

Call 1 (866) 804-9616

Vote Your Proxy by Mail:

Have your proxy card available

when you access the above

website. Follow the prompts to vote your shares.

Use any touch-tone telephone to vote your proxy. Have your proxy card available when you call. Follow the voting instructions to vote your shares.Mark, sign, and date your proxy card, then detach it, and return it in the postage-paid envelope provided.

If you vote your proxy by Internet or by Telephone, you do NOT need to mail back your proxy card. OR 3. Vote by Mail - If you do not have access to a touch-tone telephone or to the Internet, please sign, date and promptly return the proxy card in the enclosed postage-paid envelope we have provided, or mail to: CoreLogic, Inc., c/o Innisfree M&A Incorporated, 20 Oser Ave, Suite 100, Hauppauge NY 11788. TO VOTE BY MAIL, PLEASE DETACH HERE, SIGN AND DATE PROXY CARD, AND RETURN IN THE POSTAGE-PAID ENVELOPE PROVIDED X Please mark vote as in this sample The Board of Directors recommends you vote AGAINST Proposal 1, AGAINST the removal of all directors named in Proposal 2, AGAINST the nomination of all individuals named in Proposal 3, and AGAINST Proposal 4. 1. The repeal of each provision of, or amendment to, the Company’s Amended and Restated Bylaws (the “Bylaws”) adopted by the Company’s board of directors (the “Board”) without the approval of the Company’s stockholders subsequent to July 6, 2020. AGAINST ABSTAIN FOR 2. The removal from office as directors of the Company of the following (such directors, the “Incumbent Directors” and such proposal, the “Director Removal Proposal”). AGAINST ABSTAIN FOR A. J. David Chatham B. Douglas C. Curling C. John C. Dorman D. Paul F. Folino E. Thomas C. O’Brien F. Pamela H. Patenaude G. Vikrant Raina H. J. Michael Shepherd I. David F. Walker 3. The nomination of the following individuals for appointment to the Board by the directors then in office, if and to the extent one or more of the Incumbent Directors is removed from the Board pursuant to the valid adoption of the Director Removal Proposal (the “Nomination Proposal”). AGAINST ABSTAIN FOR A. W. Steve Albrecht B. Martina Lewis Bradford C. Gail Landis D. Wendy Lane E. Ryan McKendrick F. Katherine “KT” Rabin G. Sreekanth Ravi H. Lisa Wardell I. Henry W. “Jay” Winship 4. Amendment to add a new clause (which shall be designated clause (b)) to AGAINST ABSTAIN FOR Section 2.2 of Article II of the Bylaws to provide mechanics for calling a special meeting of stockholders if no directors or less than a majority of directors are in office following the passing of the Director Removal Proposal. Date: , 2020 Signature Signature (Joint Owners) Title NOTE: Please sign exactly as your name(s) appear(s) hereon. When signing as attorney, executor, administrator, trustee, guardian, or other fiduciary, please give full title as such. Joint owners should each sign personally. All holders must sign. If a corporation or partnership, please sign in full corporate or partnership name, by authorized officer.