FACTSET RESEARCH SYSTEMS INC
For the period ended Dec 18, 2025. Filed Oct 27, 2025.
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Dec 18, 2025 · Filed Oct 27, 2025
Contents
Pay Versus Performance
The following section has been prepared in accordance with the SEC’s pay versus performance (“PVP”) disclosure rules. Under the PVP rules, the SEC has developed a definition of pay, referred to as "Compensation Actually Paid" (“CAP”), which is compared here to certain performance measures defined by the SEC. The data included in the CAP columns does not reflect the actual amount of compensation earned or paid to our NEOs during the applicable fiscal year and is reported solely pursuant to the SEC rules. Our Compensation and Talent Committee did not use CAP as a basis for making compensation decisions, nor did it use the performance measures defined by the SEC for the PVP table to measure performance for executive compensation purposes. See our Compensation Discussion & Analysis on how we align pay with performance and how we approach the design of our executive compensation program.
Pay Versus Performance Table
In accordance with Item 402(v) of Regulation S-K, the following table sets forth compensation information of our Principal Executive Officer ("PEO") and our non-PEO NEOs along with total shareholder return ("TSR"), peer group total shareholder return, net income and our Company Selected Measure, Revenue.
| Pay Versus Performance | ||||||||
|---|---|---|---|---|---|---|---|---|
| Value of Initial Fixed $100 Investment Based On: | ||||||||
| Fiscal Year | Summary Compensation Table Total for PEO | Compensation Actually Paid to PEO(1) | Average Summary Compensation Table Total for Non-PEO NEOs | Average Compensation Actually Paid to Non-PEO NEOs(2) | Total Shareholder Return(3) | Peer Group Total Shareholder Return(3) | Net Income (in Thousands) | Revenue (Company Selected Measure)(in thousands)(4) |
| 2025 | $9,460,930 | $5,700,082 | $3,180,035 | $2,424,385 | $111.53 | $231.96 | $597,040 | $2,321,748 |
| 2024 | $7,584,472 | $3,005,247 | $2,317,286 | $1,458,270 | $125.11 | $182.66 | $537,126 | $2,203,056 |
| 2023 | $6,862,015 | $5,673,690 | $2,375,318 | $2,142,762 | $127.92 | $134.28 | $468,173 | $2,085,508 |
| 2022 | $6,604,998 | $15,375,286 | $2,510,807 | $3,961,318 | $125.90 | $127.23 | $396,917 | $1,843,892 |
| 2021 | $5,468,745 | $8,746,557 | $2,170,212 | $2,830,993 | $109.56 | $151.97 | $399,590 | $1,591,445 |
(1)Mr. Snow served as the Company's PEO for fiscal years 2021-2025. SEC rules require certain adjustments to be made to the amounts reported in the Summary Compensation Table ("SCT") in order to calculate CAP as shown in the table above. The following table details the applicable adjustments to the SCT Total for our PEO that were made to calculate PEO CAP. CAP does not reflect the actual amount of compensation that was or may be earned by or paid to our PEO during the applicable fiscal year.
2025 Proxy Statement 57
| PEO SCT Total to CAP Reconciliation | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Summary Compensation Table Total | $9,460,930 | $7,584,472 | $6,862,015 | $6,604,998 | $5,468,745 |
| Deduction for SCT "Stock Awards" column value | $(3,750,162) | $(3,000,011) | $(2,500,166) | $(2,250,063) | $(1,750,063) |
| Deduction for SCT "Option Awards" column value | $(3,750,093) | $(3,000,075) | $(2,500,089) | $(2,250,035) | $(1,750,005) |
| Deduction for SCT "Change in Pension Value and Nonqualified Deferred Compensation Earnings" column value | $— | $— | $— | $— | $— |
| Total Deductions from SCT | $(7,500,255) | $(6,000,086) | $(5,000,255) | $(4,500,098) | $(3,500,068) |
| Increase for Service Cost and Prior Service Cost for Pension Plans | $— | $— | $— | $— | $— |
| Increase for year end fair value of unvested equity granted during year | $4,884,670 | $3,444,963 | $4,531,366 | $5,509,555 | $5,184,817 |
| Increase/(Deduction) for change in fair value of unvested equity granted in prior years | $(1,729,950) | $(1,537,645) | $185,152 | $6,162,251 | $2,784,260 |
| Increase for vesting date fair value of equity granted and vested during year | $— | $— | $— | $— | $— |
| Increase/(Deduction) for change in fair value of vested equity granted in prior years | $584,687 | $(486,457) | $(904,588) | $1,598,580 | $(1,191,197) |
| Deduction for fair value of equity that failed to meet vesting conditions during the year | $— | $— | $— | $— | $— |
| Increase based on value of dividends not otherwise reflected in fair value or total compensation | $— | $— | $— | $— | $— |
| Total Adjustments | $3,739,407 | $1,420,861 | $3,811,930 | $13,270,386 | $6,777,880 |
| CAP (SCT minus deductions plus total adjustments) | $5,700,082 | $3,005,247 | $5,673,690 | $15,375,286 | $8,746,557 |
(2)For fiscal 2025, our non-PEO NEOs were Helen L. Shan, Goran Skoko, Christopher McLoughlin, and Katherine M. Stepp. For fiscal 2024, our non-PEO NEOs were Helen Shan, Goran Skoko, Katherine M. Stepp, Catrina Harding, and Linda S. Huber. For fiscal 2022 and 2023, our non-PEO NEOs were Linda S. Huber, Helen Shan, Goran Skoko and Robert J. Robie. For fiscal 2021, our non-PEO NEOs were Helen Shan, Goran Skoko, Gene Fernandez and Rachel Stern. SEC rules require certain adjustments to be made to the amounts reported in the SCT in order to calculate CAP as shown in the table above. The following table details the applicable adjustments to the SCT Total for our non-PEO NEOs that were made to calculate non-PEO NEO CAP. CAP does not reflect the actual amount of compensation that was or may be earned by or paid to our non-PEO NEOs during the applicable fiscal year.
| Non-PEO NEO SCT Total to CAP Reconciliation | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Summary Compensation Table Total | $3,180,035 | $2,317,286 | $2,375,318 | $2,510,807 | $2,170,212 |
| Deduction for SCT "Stock Awards" column value | $(1,343,310) | $(615,204) | $(647,053) | $(742,524) | $(581,411) |
| Deduction for SCT "Option Awards" column value | $(592,225) | $(615,078) | $(646,943) | $(556,314) | $(581,270) |
| Deduction for SCT "Change in Pension Value and Nonqualified Deferred Compensation Earnings" column value | $— | $— | $— | $— | $— |
| Total Deductions from SCT | $(1,935,535) | $(1,230,282) | $(1,293,996) | $(1,298,838) | $(1,162,681) |
| Increase for Service Cost and Prior Service Cost for Pension Plans | $— | $— | $— | $— | $— |
| Increase for year end fair value of unvested equity granted during year | $1,375,113 | $706,333 | $1,172,650 | $1,550,995 | $1,624,592 |
| Increase/(Deduction) for change in fair value of unvested equity granted in prior years | $(281,529) | $(297,616) | $20,670 | $1,011,199 | $420,703 |
| Increase for vesting date fair value of equity granted and vested during year | $— | $— | $— | $— | $— |
| Increase/(Deduction) for change in fair value of vested equity granted in prior years | $86,301 | $(37,451) | $(131,880) | $187,155 | $(221,833) |
| Deduction for fair value of equity that failed to meet vesting conditions during the year | $— | $— | $— | $— | $— |
| Increase based on value of dividends not otherwise reflected in fair value or total compensation | $— | $— | $— | $— | $— |
| Total Adjustments | $1,179,885 | $371,266 | $1,061,440 | $2,749,349 | $1,823,462 |
| CAP (SCT minus deductions plus total adjustments) | $2,424,385 | $1,458,270 | $2,142,762 | $3,961,318 | $2,830,993 |
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(3)For FactSet and the Peer Group Total Shareholder Return, the TSR for each year reflects what the cumulative value of $100 would be, including reinvestment of dividends, if such amount were invested on August 31, 2020. Peer Group Total Shareholder Return reflects the TSR of the Dow Jones U.S. Financial Services Index, one of the industry index peer groups used in the Company's Stock Performance Graph in our 2025 Annual Report on Form 10-K included pursuant to Item 201(e) of Regulation S-K.
(4)In accordance with SEC rules, we are required to include in the PVP table the "most important" financial performance measure used to link compensation of our NEOs to Company performance during fiscal 2025. We have selected revenue as this required Company Selected Measure ("CSM"). We selected revenue because adjusted cumulative revenues is a metric for our fiscal year 2025 PSU awards and is derived from revenue, and ASV growth is a metric for our fiscal year 2025 annual incentive plan and ASV at any given point in time represents the the forward-looking revenues for the next twelve months from all subscription services currently supplied to clients.
Relationship Between Pay and Performance
The following graph shows PEO and average non-PEO NEO CAP, as defined above, and FactSet's TSR during the five most recently completed fiscal years, as well as the TSR of the Dow Jones U.S. Financial Services Index, one of the industry index peer groups used in our Stock Performance Graph in our 2025 Annual Report on Form 10-K.
The following graph shows PEO and average non-PEO NEO CAP, as defined above, and our net income during the five most recently completed fiscal years.
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The following graph shows PEO and average non-PEO NEO CAP, as defined above, and FactSet's CSM, during the five most recently completed fiscal years.
Performance Measures
Our executive compensation program supports our long-term strategy by aligning the compensation of our executives with performance-based metrics. Below is an unranked list of metrics which we view as the most important financial performance measures we used to link NEO compensation to the Company's performance for fiscal 2025.
Performance Measure
Revenue
Adjusted Operating Margin
Adjusted Cumulative Operating Earnings
Adjusted Cumulative Revenues
See our Compensation Discussion & Analysis for further description of our executive compensation program.
2025 Proxy Statement 60
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