Company: MGRE
Filing Date: 2025-04-11
Form Type: DEF 14A
Source: 0001004434-25-000021
Chunk: 44

Company: AFFILIATED MANAGERS GROUP, INC.
Filing Date: 2025-04-11
Form: DEF 14A
Chunk 44
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 which would only occur if the maximum levels of each of the Average ROE and Cumulative EEPS targets were achieved. The Average ROE target range for the 2024 Long-Term Performance Achievement Awards (achievement levels at which 100% of the shares would be delivered) was set at 16–17%, consistent with levels set for 2023. If Average ROE over the measurement periods for such awards is (i) below 10%, no shares underlying the initial award will be issued and distributed; and (ii) between 10% and 22%, a ratable portion between 40% and up to a maximum of 150% of the shares underlying the award will be issued and distributed. The Compensation Committee reviews the Average ROE target at least annually, and recently increased the rigor of the target for awards issued in respect of performance year 2022 as detailed in the Company’s definitive proxy statement for its 2023 Annual Meeting of Stockholders (the “2023 Proxy Statement”); this approach was again utilized for the awards issued in respect of performance year 2024, as supplemented by the addition of the metric described below. The 4-Year Cumulative EEPS target range for the 2024 Long-Term Performance Achievement Awards was set at $88 to $95 per share. If Average ROE over the measurement periods for such awards is at least 10% and 4-Year Cumulative EEPS over the measurement periods for such awards is between $88 and $95, an additional ratable portion of between 25% and 50% of the shares underlying the award will be issued and distributed.

34

Summary of Performance Assessment Target Descriptions and Rationale, and 2024 Target Setting Process The following is a summary of the metrics utilized in the Performance Assessment scorecard, including the rationale for including each metric and the methodology used in setting the individual metric targets. In setting the targets for the revised quantitative scorecard during the first half of the year, the Compensation Committee employed a disciplined methodology, relying on informed views of performance expectations.

| Incentive Compensation Performance Assessment: Metric Descriptions / Rationaleand Target-Setting Methodology |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| Metric                                                                                                       |     | Description / Rationale                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |     | Target-Setting Methodology                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| Annual AdjustedEBITDA                                                                                        |     | •Key top-line growth metric