Company: TROW
Filing Date: 2025-03-26
Form Type: DEF 14A
Source: 0001104659-25-028002
Chunk: 30

Company: PRICE T ROWE GROUP INC
Filing Date: 2025-03-26
Form: DEF 14A
Chunk 30
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 with the opportunity to: • evaluate our executive compensation philosophy, policies, and practices; • review the alignment of executive compensation with the Company's results; and • cast an advisory vote regarding the compensation paid to our NEOs. At the 2024 Annual Meeting, our stockholders cast a nonbinding advisory vote on the compensation of the NEOs, including the changes to the CEO Incentive Compensation structure we included in the 2024 Proxy Statement. Approximately 94% of the shares voted at the 2024 Annual Meeting approved the 2023 compensation paid to our NEOs. The Compensation Committee welcomed this feedback and considered this outcome supportive of our approach to executive compensation. Our Compensation Committee considers the results of this say-on-pay vote in connection with setting our overall compensation philosophy, policies, and structure.

| 2025 Proxy Statement | 41 |

Our Board understands the importance of executive compensation decisions and encourages open and constructive dialogue with our stockholders. Each year, we have discussions with our investors (including participation from our directors) to understand the executive compensation topics that matter most to them and to seek their views on our existing policies and practices. Investors we engaged with during 2024 reacted positively to the CEO compensation program changes we explained in the 2024 Proxy Statement and overall indicated that they appreciate our current compensation structure, including our pay mix and transparency as disclosed in our 2024 Proxy Statement. We consider the input of our stockholders, along with emerging best practices, to ensure alignment with our executive pay programs. We welcome feedback regarding our executive compensation programs and will continue to engage with our stockholders in 2025. Based on these discussions and the results of our say-on-pay vote last year, the Compensation Committee believes that our stockholders support our overall executive compensation program. Key Elements of 2024 NEO Compensation Our compensation program consists primarily of three elements: non-variable cash compensation, annual variable compensation (in the form of cash bonuses), and long-term variable incentive compensation (in the form of equity awards and/or carried interest). Most NEO compensation is variable and performance based, aligned to Company and individual performance against goals. The Compensation Committee determines the appropriate level and mix of short-term and long-term awards for our NEOs to recognize annual performance and to encourage meeting our long-term strategic goals. A significant portion of Mr. August's compensation is tied to the performance of OHA-managed products, and he did not receive awards of Company stock during 2024. Non-variable Compensation Base Salary Salary provides our NEOs a fixed compensation for