FACTSET RESEARCH SYSTEMS INC
For the period ended Dec 19, 2024. Filed Oct 30, 2024.
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Dec 19, 2024 · Filed Oct 30, 2024
Contents
Summary Compensation Table
The following table summarizes the compensation earned or awarded to each NEO for fiscal years 2024, 2023 and 2022.
| Name and Principal Position · Year · Salary ($) · Bonus ($) · Stock Awards(1) ($) · Option Awards(2) ($) · Non-equity Incentive Plan Compensation(3) ($) · Change in Pension Value and Nonqualified Deferred Compensation Earnings(4) ($) · All Other Compensation(5) ($) · Total ($) | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| F. Philip Snow (6)Chief Executive Officer | 2024 | $773,077 | $— | $3,000,011 | $3,000,075 | $798,146 | $— | $13,163 | $7,584,472 | |||||||
| 2023 | $746,154 | $— | $2,500,166 | $2,500,089 | $1,102,406 | $— | $13,200 | $6,862,015 | ||||||||
| 2022 | $692,500 | $— | $2,250,063 | $2,250,035 | $1,400,000 | $— | $12,400 | $6,604,998 | ||||||||
| Helen L. Shan (7)Executive Vice President, Chief Financial Officer and Chief Revenue Officer | 2024 | $523,077 | $— | $875,162 | $875,027 | $419,943 | $— | $13,800 | $2,707,010 | |||||||
| 2023 | $498,077 | $— | $825,221 | $825,072 | $607,150 | $— | $13,200 | $2,768,720 | ||||||||
| 2022 | $475,000 | $— | $750,304 | $750,080 | $750,000 | $— | $12,400 | $2,737,784 | ||||||||
| Goran Skoko (8)Executive Vice President, Managing Director EMEA and Asia Pacific, Head of Dealmakers & Wealth | 2024 | $543,132 | $— | $575,374 | $575,086 | $530,757 | $— | $177,903 | $2,402,251 | |||||||
| 2023 | $423,077 | $— | $500,033 | $500,093 | $374,238 | $— | $1,244,078 | $3,041,519 | ||||||||
| 2022 | $397,212 | $— | $375,364 | $375,091 | $637,000 | $— | $770,753 | $2,555,420 | ||||||||
| Katherine M. Stepp(9)Executive Vice President,Chief Technology Officer | ||||||||||||||||
| 2024 | $421,154 | $— | $400,001 | $400,054 | $325,795 | $— | $462,184 | $2,009,189 | ||||||||
| Catrina Harding (10)Executive Vice President,Chief People Officer | ||||||||||||||||
| 2024 | $430,000 | $300,000 | $375,373 | $375,125 | $316,728 | $— | $20,085 | $1,817,311 | ||||||||
| Linda S. Huber (11)Former Executive Vice President, Chief Financial Officer | 2024 | $564,615 | $— | $850,109 | $850,099 | $384,000 | $— | $1,846 | $2,650,669 | |||||||
| 2023 | $573,077 | $— | $850,140 | $850,071 | $564,602 | $— | $15,738 | $2,853,628 | ||||||||
| 2022 | $486,539 | $— | $1,494,088 | $750,080 | $750,000 | $— | $11,846 | $3,492,553 | ||||||||
- The amounts set forth in the Stock Awards column represent the aggregate grant date fair value of performance share unit ("PSU") and restricted share unit ("RSU") awards granted during the applicable fiscal year, computed in accordance with ASC Topic 718. The assumptions made for the valuation of PSU and RSU awards are disclosed in the Notes to Consolidated Financial Statements included in the Company’s fiscal 2024 Annual Report on Form 10-K. The grant date fair value of PSU and RSU awards is measured by reducing the grant date price of FactSet's common stock by the present value of the dividends expected to be paid on the underlying stock during the requisite vesting period, discounted at the appropriate risk-free interest rate. The PSUs and RSUs entitle the holders to shares of common stock upon vesting, subject
2024 Proxy Statement 65 to the achievement of certain performance metrics (except for the RSUs, which are not subject to any performance metrics), but not to dividends declared on the underlying shares while the PSUs and RSUs are unvested. A PSU has value only if FactSet achieves the threshold level of performance set forth in the PSU award. An RSU has no performance metric.
The amounts set forth in the Option Awards column represent the aggregate grant date fair value, computed in accordance with ASC Topic 718, of the stock options granted to each of our NEOs during the applicable fiscal year. The Company utilizes a lattice-binomial model to estimate the fair value of stock options on the date of grant (or, in the case of a modified option, the date of modification). The assumptions made for the valuation of stock option awards are disclosed in the Notes to Consolidated Financial Statements included in the Company’s fiscal 2024 Annual Report on Form 10-K. A stock option has value only if the Company’s stock price increases above the stock option exercise price (an “in-the-money” option). If an NEO exercises an in-the-money stock option, he or she would then realize an actual gain. Any gain actually realized for stock options exercised in fiscal 2024 is reported in the “Option Exercises and Stock Vested” table.
The amounts set forth in the Non-equity Incentive Plan Compensation column represent the annual cash incentives based on the performance of the individual NEO and the performance of FactSet relative to pre-determined objectives for the applicable fiscal year.
The amounts set forth in the Change in Pension Value and Nonqualified Deferred Compensation Earnings column represent the aggregate annual increase in actuarial present value of accumulated benefit under defined benefit plans during the applicable year. None of our NEOs participated in any defined benefit or actuarial pension plans in fiscal 2024.
The amounts set forth in the All Other Compensation column include employer payments to the applicable individual NEOs for matching contributions to FactSet's defined contribution plans, expatriate allowances, and other benefits. The following table summarizes the amounts shown in the All Other Compensation column for fiscal 2024.
| All Other Compensation in Fiscal 2024 | ||||||
|---|---|---|---|---|---|---|
| Name · Company Contributions to Defined Contribution Plans(5a) · Expatriate Allowance(5b) · Tax Equalization(5c) · Other(5d) · Total All Other Compensation | ||||||
| F. Philip Snow | $13,163 | $— | $— | $— | $13,163 | |
| Linda S. Huber | $1,846 | $— | $— | $1,846 | ||
| Helen L. Shan | $13,800 | $— | $— | $— | $13,800 | |
| Goran Skoko | $53,302 | $— | $79,953 | $44,648 | $177,903 | |
| Katherine M. Stepp | $14,585 | $59,195 | $361,238 | $27,166 | $462,184 | |
| Catrina Harding | $20,085 | $— | $— | $— | $20,085 | |
a) Amounts shown reflect Company matching contributions to individual NEO's employee defined contribution accounts. Mr. Skoko, who became a U.K. employee in fiscal 2024, received Company matching contributions to his U.K. defined contribution account in British pounds. Such amounts have been converted to U.S. dollars using an exchange rate of 1 GBP = 1.2672 USD.
b)Pursuant to Ms. Stepp's expatriate package, Ms. Stepp received repatriation expenses of $40,560, a housing allowance of $9,748, and utilities payments of $5,737. Additionally, Ms. Stepp received various benefits cumulatively valued at less than $5,000. Various elements in Ms. Stepp's expatriate package have been converted into U.S. dollars from British pounds based on the exchange rate at the time of payment. Ms. Stepp returned to the U.S. from her expatriate assignment during fiscal 2024.
c) Reflects tax equalization payments and reimbursements provided to the individuals in connection with their expatriate assignments. The tax equalization benefits are designed to mitigate the impact of an expatriate assignment by covering tax expense in excess of what the employee would have incurred had the employee remained in their home country. In addition, the Company pays the personal income taxes due on expatriate allowances.
d) Amounts shown reflect expenses for tax preparation and planning provided to the individuals in connection with their expatriate assignments.
Mr. Snow received no additional compensation for serving on the Company’s Board of Directors during any of the years presented.
Ms. Shan served as our Chief Financial Officer at the start of our fiscal 2022 year through October 4, 2021, when she became Chief Revenue Officer. On July 22, 2024, Ms. Shan re-assumed the role of Chief Financial Officer in addition to her existing position as Chief Revenue Officer. Ms. Shan ceased serving as Chief Revenue Officer effective September 1, 2024, the start of our 2025 fiscal year.
Mr. Skoko became Chief Revenue Officer and ceased serving as Head of Dealmakers & Wealth effective September 1, 2024, the start of our 2025 fiscal year. Mr. Skoko's expatriate assignment concluded at the end of the 2023 fiscal year and he remained as a local employee in the U.K. during the 2024 fiscal year. Mr. Skoko was paid in British Pounds during fiscal 2024. Such amounts have been converted to U.S. dollars using an exchange rate of 1 GBP = 1.2672 USD for all figures except for non-equity incentive plan compensation for which we used an exchange rate of 1 GBP = 1.3127 USD.
Compensation is shown only for the year Ms. Stepp was an NEO. Ms. Stepp concluded an expatriate assignment during fiscal 2024.
Compensation is shown only for the year Ms. Harding was an NEO. Ms. Harding joined FactSet on July 17, 2023 and received a one-time sign-on bonus of $300,000 in fiscal 2024 pursuant to her offer letter with FactSet.
Ms. Huber joined FactSet as Executive Vice President, Chief Financial Officer during fiscal 2022 on October 4, 2021. Ms. Huber served as Executive Vice President, Chief Financial Officer during fiscal 2024 from September 1, 2023 through July 22, 2024. On July 22, 2024, pursuant to a Separation Agreement and General Release of Claims between the Company and Ms. Huber, Ms.Huber's base salary was
66 2024 Proxy Statement reduced from $600,000 to $300,000 as she transitioned from Chief Financial Officer to finance advisor. Ms. Huber's annual cash incentive also was determined pursuant to the Separation Agreement and General Release of Claims between her and the Company. She remained an employee of the Company through August 31, 2024.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.