Company: MGRE
Filing Date: 2025-04-11
Form Type: DEF 14A
Source: 0001004434-25-000021
Chunk: 8

Company: AFFILIATED MANAGERS GROUP, INC.
Filing Date: 2025-04-11
Form: DEF 14A
Chunk 8
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-Term Performance Achievement Awards as a percentage of totalformulaic equity incentive awards to 75% from 60%, to further enhance the alignment of futurerealized compensation with long-term shareholder value creation                                                                                                                                                                                                                                                     |
| Add a second performance metric toLong-Term Performance AchievementAwards                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | •Implemented Economic earnings per share (EEPS)-based metric as a second performancemetric for Long-Term Performance Achievement Awards, in addition to existing Average Returnon Equity (“Average ROE”) metric. The implementation of this metric is intended to furtherenhance the alignment of executive realized compensation with business performance, as webelieve EEPS is the most comprehensive measure of overall earnings contribution on a per-unitbasis, incorporating the aggregate condition of Affiliates, corporate expenses, capital structure,tax exposure, and the full weight of capital allocation decisions |

7

| 2024 Annual Incentive Compensation Determination Process |
| Overview of Enhanced Performance Assessment Process      |

• Below is a summary of the Compensation Committee’s Performance Assessment process to establish the Annual Incentive Compensation for the CEO and other NEOs • Three of the five steps are formulaic; the Compensation Committee sets the Peer Group, compensation targets, and compensation caps – For 2024, the Compensation Committee further updated our Peer Group to reflect AMG’s growth, overall changes in the asset management industry, and the business models, size, and scope of our competitors – The Target Total Payout was set at $13.3 million for our CEO in 2024, based on the median of Peer Group compensation

| Review and Set Metric Targets for Quantitative Scorecard AssessmentMetric targets set across nine quantified, objective, and pre-set metrics                                                                                                                                                                                                                                                                               |
| Determine Peer Group to set NEO Target Payouts along with maximum payoutlevelsCEO Target Total Payout was set at the Peer Median ($13.3mm); cap on Total Compensation set at $17.5mm(unchanged from prior years)Non-CEO NEO Target Payouts are informed by peer medians and other benchmarking data, and incorporateindividuals’ AMG roles and responsibilities; individual caps established by the Compensation Committee |
| Calculate Performance Assessment scoring after year-endUpon completion of annual external audit, Performance Assessment score is finalized via weighted achievementlevels of individual metrics (score of 100% implies median performance)                                                                                                                                                                                 |
| Calculate Annual Incentive Compensation amountApply weighted score of 118% to the Target Total Payout,