Company: MGRE
Filing Date: 2025-04-11
Form Type: DEF 14A
Source: 0001004434-25-000021
Chunk: 46

Company: AFFILIATED MANAGERS GROUP, INC.
Filing Date: 2025-04-11
Form: DEF 14A
Chunk 46
---
 of +5% growth relative to the prior-year actualachievement, consistent with the approach forperformance year 2023•We believe that the resulting EEPS target is a rigorousmetric given that the year-over-year change in EEPS isreflective of management’s execution against itsstrategy, regardless of the impact of Beta on AMG’sbusiness across a range of reasonable marketoutcome scenarios•Beginning in 2023, a minimum threshold was includedin measuring this metric, set at 50% of the target, andbelow which the metric would result in 0% achievement                                                                                                                                                                                                                                                         |

35

| Incentive Compensation Performance Assessment: Metric Descriptions / Rationaleand Target-Setting Methodology (cont.) 
 Metric                                                                                                               
 RelativeEarningsGrowth:Percentile Rank                                                                               |     | Description / Rationale                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
 •Relative growth ranking vs. Peer Group across GAAP EPSand EEPS (equally-weighted); relative metric reducesimpact of macro factors•EEPS is one of AMG’s key performance metrics, but mustbe calculated by us for certain peers that do not disclose acomparable metric. Given that all public companies mustreport under GAAP, diluted GAAP EPS is included in thecomposite metric, enhancing conformity across the PeerGroup. Idiosyncratic issues across each metric are offset byequally weighting EEPS vs. GAAP EPS; short-termanomalies are offset by comparing across a 3-year period                                  |     | Target-Setting Methodology                                                                                                                                                                                                                                                                                                                                 
 •Target for AMG’s relative growth ranking vs. PeerGroup across GAAP EPS and EEPS (equally-weighted) is the peer median (50th percentile); a scoreof 100% indicates median performance•Given this is a relative metric, minimum threshold forthis metric of 0% based on relative ranking with PeerGroup and maximum score capped at 200%                    |
|:---------------------------------------------------------------------------------------------------------------------|:----|:-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|:----|:-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| Absolute TSR                                                                                                         |     | •TSR metrics directly link Performance Assessment withshareholder investment experience•Absolute metric accounts for AMG’s unique exposures thatare not captured in the Peer Group•1- / 3- / 5-year composites (with 30% / 50% / 20% weights,respectively) recognize annual performance while alsoaligning incentives with longer-term stockholder return                                                                                                                                                                                                                                                                    |     | •