ServiceNow Inc
For the period ended May 23, 2024. Filed Apr 4, 2024.
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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.
May 23, 2024 · Filed Apr 4, 2024
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 14A
(Rule 14a-101)
SCHEDULE 14A INFORMATION
Proxy Statement Pursuant to Section 14(a) of
the Securities Exchange Act of 1934
Filed by the Registrantþ
Filed by a Party other than the Registranto
Check the appropriate box:
o Preliminary Proxy Statement
o Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))
þ Definitive Proxy Statement
o Definitive Additional Materials
o Soliciting Material under §240.14a-12
SERVICENOW, INC.
(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 the appropriate box):
þ No fee required.
o Fee paid previously with preliminary materials.
o Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11.
Dear Fellow Shareholders
2225 Lawson Lane
Santa Clara, California 95054
April 4, 2024
You are cordially invited to attend the 2024 Annual Shareholders Meeting of ServiceNow, Inc., a Delaware corporation (“ServiceNow”) on Thursday, May 23, 2024, at 10:00 a.m. Pacific Time. The Annual Meeting will be conducted online through a live webcast, often referred to as a “virtual meeting” of shareholders.
You can participate by visitingwww.virtualshareholdermeeting.com/NOW2024. As a shareholder, all you need to join the meeting is the 16-digit control number printed in the box marked by the arrow on your Notice Regarding Availability of Proxy Materials (the “Notice of Internet Availability”). You may submit comments and questions before the meeting at the same website address.
You will be able to listen to the official meeting, submit questions and comments and vote your shares from any location with an Internet connection. Questions may be submitted before the meeting as well at the website noted above. Our virtual meeting format allows us to increase shareholder access, saves us and our shareholders time and money and preserves the rights and opportunities of our shareholders to participate in the meeting as efficiently and effectively as they could by attending in person. It also allows us to reduce the environmental impact of our meeting.
We have elected to deliver our proxy materials to our shareholders over the Internet. Similar to the benefits of holding our meeting virtually, our proxy delivery process reduces our environmental impact and lowers the costs of printing and distributing materials without adversely impacting our ability to provide shareholders with timely access to important information.
On or about April 4, 2024, we expect to mail to our shareholders the Notice of Internet Availability containing instructions on how to access our Proxy Statement for our 2024 Annual Meeting and our 2023 Annual Report to shareholders. The Notice of Internet Availability also provides instructions on how to vote by mail or over the Internet and includes instructions on how to receive a paper copy of the proxy materials by mail.
The matters we will discuss and vote on at the 2024 Annual Meeting are described in the notice of annual meeting on the next page and in our Proxy Statement that follows.
Please use this opportunity to share your views by participating in our meeting and voting your shares. Even if you cannot participate in the meeting, please vote over the Internet, by telephone or by requesting and mailing your proxy card to ensure your representation at the meeting. Your vote is important.
We appreciate your continued support of ServiceNow as we build the Defining Enterprise Software Company of the 21 st Century.
Sincerely,
William R. “Bill” McDermott
Chairman of the Board and Chief Executive Officer
| 2024 Proxy Statement | i |
|---|
Notice of 2024 Annual Meeting
| Items of Business | Board Recommendations | Date and TimeMay 23, 2024 (Thursday)10:00 a.m., Pacific Time | ||
| 1 | To elect 11 directors, each to serve until the next annual shareholders meeting and until his or her successor is elected and qualified or his or her earlier death, resignation or removal | “FOR”each director nominee See page 9 | ||
| Record DateOnly shareholders of record at the close of business on March 26, 2024, are entitled to notice of, and to vote at, the Annual Meeting. | ||||
| 2 | To hold a non-binding advisory vote to approve the compensation of our named executive officers (commonly referred to as “say on pay”) | “FOR” See page 50 | ||
| 3 | To ratify the appointment of PricewaterhouseCoopers LLP as our independent registered public accounting firm for the year ending December 31, 2024 | “FOR” See page 101 | ||
| How to Vote | ||||
| Internetwww.proxyvote.com | ||||
| 4 | To vote on a shareholder proposal regarding simple majority vote | NO RECOMMENDATION See page 104 | ||
| MailMark, sign and date your proxy card and return it in the postage-paid envelope | ||||
| In addition, shareholders may be asked to consider and vote on such other business as may properly come before the Annual Meeting.For 10 days prior to the Annual Meeting, a complete list of the shareholders entitled to vote at the Annual Meeting will be available upon request to ir@servicenow.com for examination by any shareholder for any purpose relating to the Annual Meeting.All shareholders are invited to attend the Annual Meeting. Any shareholder attending the Annual Meeting may vote online at the Annual Meeting even if the shareholder previously voted. The previous votes will be superseded by the vote such shareholder casts online at the Annual Meeting.Thank you for your continued support of ServiceNow.By Order of the Board of Directors,Russell S. ElmerGeneral Counsel and SecretaryApril 4, 2024 | ||||
|---|---|---|---|---|
| QR CodeScan the QR code on your voting materials to vote with your mobile device | ||||
| Whether or not you expect to attend the Annual Meeting, we encourage you to read this Proxy Statement and vote over the Internet, by telephone, by requesting and mailing your proxy card or by mobile device as soon as possible, so that your shares may be represented at the Annual Meeting. For specific instructions on how to vote your shares, please refer to the section titled “Annual Meeting General Information” beginning on page 106 of the proxy statement and the instructions on the enclosed Notice of Internet Availability. | ||||
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Table ofContents
| Message from Our Chairman and CEO | i | |
|---|---|---|
| Notice of 2024 Annual Meeting | ii | |
| Proxy Statement Summary | 1 | |
| Proxy Voting Roadmap | 8 | |
| PROPOSAL NO. 1 Election of 11 Directors | 9 | |
| Nomination Process and Nominees | 10 | |
| Nomination Process | 10 | |
| Nominee's Experience and Skills | 13 | |
| Director Nominees | 15 | |
| Board and Corporate Governance Matters | 26 | |
| Corporate Governance Highlights | 26 | |
| Board Leadership Structure | 27 | |
| Board Committees | 29 | |
| Role of the Board in Risk Oversight | 32 | |
| Other Governance Policies and Practices | 34 | |
| Director Compensation | 36 | |
| Global Impact: Environmental, Social and Governance | 39 | |
| Overview | 39 | |
| Sustaining Our Planet | 40 | |
| Creating Equitable Opportunity | 40 | |
| Acting with Integrity | 43 | |
| Executive Leadership | 45 | |
| PROPOSAL NO. 2 Advisory Vote to Approve Executive Compensation (“Say on Pay”) | 50 | |
| Letter From the Leadership Development and Compensation Committee | 51 | |
| Compensation Discussion and Analysis | 53 | |
|---|---|---|
| Section 1 - Executive Summary | 54 | |
| Section 2 - Executive Compensation Program | 60 | |
| Section 3 - Compensation Policies and Practices | 73 | |
| Section 4 - NEO Employment Agreements | 79 | |
| Report of the Leadership Development and Compensation Committee | 83 | |
| Executive Compensation Tables | 84 | |
| 2023 Summary Compensation Table | 84 | |
| 2023 Grants of Plan Based Awards | 86 | |
| 2023 Outstanding Equity Awards at Fiscal Year End | 87 | |
| 2023 Option Exercises and Stock Vested Table | 90 | |
| Pension Benefits | 90 | |
| Nonqualified Deferred Compensation | 90 | |
| Potential Payments upon Termination or Change in Control | 91 | |
| Potential Payments upon Death | 91 | |
| Equity Compensation Plan Information | 92 | |
| Chief Executive Officer Pay Ratio | 93 | |
| Pay Versus Performance | 94 | |
| Security Ownership of Certain Beneficial Owners and Management | 99 | |
| PROPOSAL NO. 3 Ratify the Independent Registered Public Accounting Firm for 2024 | 101 | |
| Report of the Audit Committee | 103 | |
| PROPOSAL NO. 4 Shareholder Proposal Regarding Simple Majority Vote | 104 | |
| Annual Meeting General Information | 106 | |
| Additional Information | 111 | |
| Appendix A | A-1 |
| 2024 Proxy Statement | iii |
|---|
Table of Contents
This Proxy Statement contains forward-looking statements. All statements contained in this Proxy Statement other than statements of historical or current fact, including statements regarding our environmental, social and governance plans and goals, executive compensation plans, and business strategy and plans are forward-looking. The words "believe," "may," "will," "estimate," "continue," "anticipate," "intend," "expect" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Forward-looking statements are based on our management’s beliefs and assumptions and on information currently available to management as of the date of this Proxy Statement. Actual results could differ materially from the results expressed or implied by the forward-looking statements we make. Factors that may cause actual results to differ materially from those expressed or implied in any forward-looking statement include, but are not limited to, those discussed in the section titled “Risk Factors” in our 2023 Annual Report on Form 10-K. We undertake no obligation, and do not intend, to update the forward-looking statements.
The content of the websites, and additional materials found on those websites, referred to in this Proxy Statement are not deemed to be part of, and are not incorporated by reference into, this Proxy Statement.
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