Investor Presentaiton
Westwood | Changes to Executive Compensation Program
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Independent third party compensation consultant engaged
New employment agreement for CEO which includes a three-year term, double-trigger change-in-control and no-gross up provisions for taxes
Stock ownership guidelines adopted for the CEO (6x base salary) and certain other executives (3x base salary) and members of the Board of
Directors (5x cash retainer)
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Adopted a clawback policy
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Modified CEO annual incentive plan from a fixed percentage of pre-tax income to a scorecard with multiple pre-established performance goals
Modified CEO long-term incentive plan from a front-loaded five-year time-based equity award to annual performance-based with additional time-
based vesting
Developed anti-hedging and anti-pledging policies for executives and directors
Implemented maximum caps on all incentive plans
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Benchmark executives against industry survey data
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Updated peer group of companies to include:
Prohibition against back-dating, re-pricing or retroactive equity awards
Artisan Partners Asset Management, Inc.
Cohen & Steers, Inc.
Federated Investors, Inc.
Janus Capital Group, Inc.
OM Asset Management Plc
Silvercrest Asset Management Group, Inc.
Wisdom Tree Investments, Inc.
Calamos Asset Management, Inc.
Diamond Hill Investment Group, Inc.
GAMCO Investors, Inc.
Manning & Napier, Inc.
Pzena Investment Management, Inc.
Virtus Investment Partners, Inc.
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Investing Where It Counts
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