Company: MGRE
Filing Date: 2025-04-11
Form Type: DEF 14A
Source: 0001004434-25-000021
Chunk: 41

Company: AFFILIATED MANAGERS GROUP, INC.
Filing Date: 2025-04-11
Form: DEF 14A
Chunk 41
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 Officer compensation, which produced total incentive compensation

awards for 2024 consistent with the design of the plan.

30

All dollar amounts displayed in the following steps in millions.

| Review and Set Metric Targets for Quantitative Scorecard AssessmentMetric targets set across nine quantified, objective, and pre-set metrics |

The Compensation Committee continued to integrate shareholder feedback to enhance the scorecard assessment and further align incentive pay with objective quantitative metrics related to AMG management’s ability to create shareholder value across capital allocation decisions. For performance year 2024, the Compensation Committee implemented a modest revision to further align the quantitative scorecard assessment with long-term returns and business objectives; the Annual Management Fee EBITDA metric was replaced with Annual Adjusted EBITDA to better reflect the growing contribution of performance fee earnings in our business. In addition to this refinement, the Compensation Committee further streamlined the quantitative scorecard assessment to nine metrics, resulting in an increased weighting of metrics based on AMG’s financials. The net effect of these changes implemented to refine the scorecard metrics was immaterial. Metric targets were set using an approach consistent with that of the prior year. Beginning in performance year 2023, the Compensation Committee implemented a 50% threshold level for both absolute earnings-related metrics, resulting in Committee-set or natural threshold values applying to 78% of the Performance Assessment scorecard.

| Determine Peer Group to set NEO Target Payouts along withmaximum payout levelsCEO Target Total Payout was set at the Peer Median ($13.3mm); cap on Total Compensation setat $17.5mm (unchanged from prior years)Non-CEO NEO Target Payouts are informed by peer medians and other benchmarking data, andincorporate individuals’ AMG roles and responsibilities; individual caps established by theCompensation Committee | $13.3CEO Target$17.5CEO Maximum |

The Compensation Committee regularly reviews our Peer Group to ensure its ongoing relevance throughout the various stages of the Company’s growth and development, and to reflect on developments among our peers. In determining the Company’s Peer Group on an annual basis, the Compensation Committee applies a principles-based approach in considering both industry- and company-specific dynamics to identify the peers with which we compete for talent, client assets, and stockholder capital. As a result, the Committee focuses on peers within the asset management industry, as well as financial services companies with significant investment management components to their businesses, and does not, for example, include retail or investment banks, brokerage or custodian firms, or