Skip to main content

MOODYS CORP /DE/

For the period ended Dec 31, 2025. Filed Mar 4, 2026.

View on SEC.gov

About this filing

What shareholders are asked to vote on at a company's meeting. It is where to find what directors and top executives are paid, and who owns the most shares.

Dec 31, 2025 · Filed Mar 4, 2026

MCO$505.67-1.9%Stored close · as of Nov 6, 2026
See the whole filing, with its images and exhibits
Contents

Cover page

Show cover page

SCHEDULE 14A INFORMATION

Proxy Statement Pursuant to Section 14(a) of the

Securities Exchange Act of 1934

[Amendment No. ]

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 permitted by Rule 14a-6(e)(2))

☒ Definitive Proxy Statement

☐ Definitive Additional Materials

☐ Soliciting Material under § 240.14a-12

MOODY’S CORPORATION

(Name of Registrant as Specified in Its Charter)

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

Payment of Filing Fee (Check all boxes that apply):

☒ No fee required

☐ Fee paid previously with preliminary materials

☐ Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11

March 4, 2026

Dear Stockholder:

You are cordially invited to attend the 2026 Annual Meeting of Stockholders of Moody’s Corporation to be held on Tuesday, April 14, 2026, at 9:30 a.m. EDT. Due to the greater access that it provides to our stockholders, the Board of Directors has directed that the 2026 Annual Meeting be held as a “virtual meeting” via the internet. We have designed the format of the Annual Meeting to provide stockholders the same ability to participate that they would have at an in-person meeting.

The Notice of Annual Meeting and Proxy Statement accompanying this letter describe the business to be acted upon at the meeting. The Annual Report for the year ended December 31, 2025 is also enclosed.

On March 4, 2026, we mailed to many of our stockholders a Notice of Internet Availability of Proxy Materials (the “Notice”) containing instructions on how to access our 2026 Proxy Statement and 2025 Annual Report and vote online. The Notice included instructions on how to request a paper or e-mail copy of the proxy materials, including the Notice of Annual Meeting, Proxy Statement, Annual Report, and proxy card or voting instruction card. Stockholders who requested paper copies of the proxy materials or previously elected to receive the proxy materials electronically did not receive a Notice and will receive the proxy materials in the format requested.

Your vote is important. Whether or not you plan to attend the Annual Meeting, we encourage you to review the proxy materials and hope you will vote as soon as possible. You may vote by proxy over the internet or by telephone by using the instructions provided in the Notice. Alternatively, if you requested and received paper copies of the proxy materials by mail, you can also vote by mail by following the instructions on the proxy card or voting instruction card. Voting over the internet, by telephone, or by written proxy or voting instruction card will ensure your representation at the Annual Meeting regardless of whether you attend. Instructions regarding the three methods of voting are contained in the Notice or proxy card or voting instruction card.

Sincerely,

Vincent A. ForlenzaChairman of the BoardRobert FauberPresident and Chief Executive Officer

MOODY’S CORPORATION

7 World Trade Center

250 Greenwich Street

New York, New York 10007

NOTICE OF 2026 ANNUAL MEETING

OF STOCKHOLDERS

To Our Stockholders:

The 2026 Annual Meeting of Stockholders of Moody’s Corporation (“Moody’s” or the “Company”) will be held on Tuesday, April 14, 2026, at 9:30 a.m. EDT. The 2026 Annual Meeting will be held virtually via the internet atwww.virtualshareholdermeeting.com/MCO2026. The meeting will be held for the following purposes, all as more fully described in the accompanying Proxy Statement:

1To elect the ten director nominees named in the Proxy Statement to serve a one-year term;
2To ratify the appointment of KPMG LLP as the independent registered public accounting firm of the Company for the year 2026;
3To vote on an advisory resolution approving executive compensation; and
4To transact such other business as may properly come before the meeting or any adjournment or postponement thereof.

The Board of Directors of the Company has fixed the close of business on February 18, 2026 as the record date for the determination of stockholders entitled to receive notice of, and to vote at, the Annual Meeting or any adjournment or postponement thereof.

If you experience technical difficulties during the check-in process, or at any time during the Annual Meeting, please call the number displayed on the virtual annual meeting login page for technical support.

By Order of the Board of Directors,

Elizabeth M. McCarroll

Managing Director, Corporate Governance

and Securities, and Corporate Secretary

March 4, 2026

IMPORTANT VOTING INFORMATION

Your Participation in Voting the Shares You Own Is Important

If you are the beneficial owner of your shares (meaning that your shares are held in the name of a bank, broker or other nominee), you may receive a Notice of Internet Availability of Proxy Materials from the firm that holds the shares containing instructions that you must follow in order for your shares to be voted. Certain institutions offer telephone and internet voting. If you received the proxy materials in paper form, the materials include a voting instruction card so you can instruct the holder of record on how to vote your shares.

Brokers are not permitted to vote on certain items and may elect not to vote on any of the items, unless you provide voting instructions. To ensure that your shares are voted on all items, you will need to communicate your voting decisions to your bank, broker or other holder of record before the date of the Annual Meeting.

Voting your shares is important to ensure that you have a say in the governance of the Company and to fulfill the objectives of the majority-voting standard that Moody’s Corporation applies in the election of directors. Please review the proxy materials and follow the relevant instructions to vote your shares. We hope you will exercise your rights and fully participate as a stockholder in the future of Moody’s Corporation.

More Information Is Available

If you have any questions about the voting of your shares, participating in the Annual Meeting or the proxy voting process in general, please contact the bank, broker or other nominee through which you hold your shares. Additionally, you may contact the Company’s Investor Relations Department by sending an e-mail toir@moodys.com.

IMPORTANT NOTICE REGARDING THE AVAILABILITY OF PROXY MATERIALS FOR THE ANNUAL MEETING OF STOCKHOLDERS TO BE HELD ON APRIL 14, 2026 The Proxy Statement and the Company’s 2025 Annual Report are available at www.proxyvote.com. Your vote is very important. Whether or not you plan to attend the Annual Meeting, we hope you will vote as soon as possible. You may vote your shares via a toll-free telephone number or over the internet as instructed in the Notice of Internet Availability of Proxy Materials. Alternatively, if you received a paper copy of a proxy or voting instruction card by mail, you may submit your proxy or voting instruction card for the Annual Meeting by completing, signing, dating and returning your proxy or voting instruction card in the pre-addressed envelope provided. No postage is required if the card is mailed in the United States. If you attend the meeting, you may vote during the meeting via the internet, even if you have previously returned your proxy or voting instruction card or voted by telephone or the internet. We will provide without charge to you a copy of the 2025 Annual Report on Form 10-K, upon written or oral request. You may direct such a request to us via e-mail to ir@moodys.com, or by submitting a written request to the Company’s Investor Relations Department, at 7 World Trade Center at 250 Greenwich Street, New York, New York 10007 or contacting the Company’s Investor Relations Department by telephone, at (212) 553-0300.

TABLE OF CONTENTS

PROXY STATEMENT SUMMARY1
2026 ANNUAL MEETING INFORMATION1
MATTERS TO BE VOTED ON AT THE ANNUAL MEETING1
HOW TO VOTE IN ADVANCE OF THE ANNUAL VIRTUAL MEETING2
HOW TO PARTICIPATE IN THE ANNUAL MEETING2
CORPORATE GOVERNANCE HIGHLIGHTS3
DIRECTOR NOMINEE HIGHLIGHTS5
SUSTAINABILITY7
HUMAN CAPITAL8
CORPORATE GOVERNANCE9
BOARD MEETINGS AND COMMITTEES9
RECOMMENDATION OF DIRECTOR CANDIDATES10
DIRECTOR EDUCATION10
BOARD LEADERSHIP STRUCTURE11
CODES OF BUSINESS CONDUCT AND ETHICS; INSIDER TRADING POLICIES AND PROCEDURES11
ANTI-HEDGING AND ANTI-PLEDGING POLICY; SHORT SALES AND OTHER SPECULATIVE TRADES12
DIRECTOR INDEPENDENCE12
BOARD AND COMMITTEE EVALUATION PROCESS14
THE BOARD’S ROLE IN THE OVERSIGHT OF COMPANY RISK14
EXECUTIVE SESSIONS15
COMMUNICATIONS WITH DIRECTORS15
STOCKHOLDER ENGAGEMENT16
SUCCESSION PLANNING16
THE AUDIT COMMITTEE16
OVERSIGHT OF AUDIT PROCESSES16
RESPONSIBILITIES UNDER THE AUDIT COMMITTEE CHARTER16
ONGOING ASSESSMENT OF THE INDEPENDENT AUDITORS17
POLICY ON PRE-APPROVAL OF INDEPENDENT AUDITORS’ FEES17
REPORT OF THE AUDIT COMMITTEE18
THE GOVERNANCE & NOMINATING COMMITTEE18
THE COMPENSATION & HUMAN RESOURCES COMMITTEE18

i

REPORT OF THE COMPENSATION & HUMAN RESOURCES COMMITTEE19
RELATIONSHIP OF COMPENSATION PRACTICES TO RISK MANAGEMENT20
CERTAIN RELATIONSHIPS AND RELATED PERSON TRANSACTIONS20
COMPENSATION OF DIRECTORS21
STOCK OWNERSHIP GUIDELINES FOR NON-EMPLOYEE DIRECTORS24
1998 MOODY’S CORPORATION NON-EMPLOYEE DIRECTORS’ STOCK INCENTIVE PLAN24
ITEM 1—ELECTION OF DIRECTORS25
QUALIFICATIONS AND SKILLS OF DIRECTORS25
DIRECTOR NOMINEES27
ITEM 2—RATIFICATION OF APPOINTMENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTANTS32
PRINCIPAL ACCOUNTING FEES AND SERVICES33
SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT34
DELINQUENT SECTION 16(a) REPORTS36
ITEM 3—ADVISORY RESOLUTION APPROVING EXECUTIVE COMPENSATION37
COMPENSATION DISCUSSION AND ANALYSIS38
EXECUTIVE SUMMARY39
EXECUTIVE COMPENSATION GOVERNANCE HIGHLIGHTS41
PHILOSOPHY OF THE EXECUTIVE COMPENSATION PROGRAM42
PEER AND MARKET REVIEW42
CHIEF EXECUTIVE OFFICER COMPENSATION44
ELEMENTS OF MOODY’S COMPENSATION PROGRAM44
WEIGHTING OF ELEMENTS—FIXED VERSUS “AT RISK” COMPENSATION46
2025 COMPENSATION DECISIONS47
EXECUTIVE COMPENSATION GOVERNANCE POLICIES AND PRACTICES55
ADDITIONAL EXECUTIVE COMPENSATION POLICIES AND PRACTICES56
SUMMARY COMPENSATION TABLE58
GRANTS OF PLAN-BASED AWARDS TABLE FOR 202560
OUTSTANDING EQUITY AWARDS AT FISCAL YEAR-END TABLE FOR 202562
OPTION EXERCISES AND STOCK VESTED TABLE FOR 202564
PENSION BENEFITS TABLE FOR 202565
MOODY’S CORPORATION RETIREMENT ACCOUNT66
MOODY’S CORPORATION PENSION BENEFIT EQUALIZATION PLAN66

ii

NON-QUALIFIED DEFERRED COMPENSATION TABLE67
MOODY’S CORPORATION DEFERRED COMPENSATION PLAN67
POTENTIAL PAYMENTS UPON TERMINATION OR CHANGE IN CONTROL68
MOODY’S CORPORATION CAREER TRANSITION PLAN68
MOODY’S CORPORATION CHANGE IN CONTROL SEVERANCE PLAN69
OTHER POTENTIAL PAYMENTS UPON TERMINATION OF EMPLOYMENT70
CEO PAY RATIO73
PAY VERSUS PERFORMANCE74
INFORMATION ABOUT THE ANNUAL MEETING, PROXY VOTING AND OTHER INFORMATION78
OTHER BUSINESS81
FORWARD-LOOKING STATEMENTS81
STOCKHOLDER PROPOSALS FOR 2027 ANNUAL MEETING81

iii

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.