01—Abstract
Summary
Summary of the 8-K filed December 16, 2024. Cited figures are marked; the original filing is the authoritative source.
Broadridge Financial Solutions, Inc. (NYSE: BR) filed this Form 8-K on December 16, 2024 to report the Board's appointment of Ashima Ghei as Corporate Vice President and Chief Financial Officer, effective immediately.
Ghei will serve as the company's principal financial and principal accounting officer. She has been leading the global Finance team as Interim CFO since July 1, 2024, and the company's press release states she has been instrumental in driving its financial strategy and execution in the first half of fiscal year 2025. The filing sets out her compensation as approved by the Compensation Committee: an annual base salary of $600,000,a and a target annual cash incentive of 100% of base salary.
For fiscal 2025 she will receive a pro-rated cash incentive based on her days employed in the role. Starting in calendar 2025, her annual equity targets are $850,000b in performance-based restricted stock units vesting in 2028 and $850,000 in stock options with standard four-year vesting. She will also participate in the company's Officer Severance Plan and Change in Control Severance Plan for Corporate Officers.
Ghei, age 45, joined Broadridge in January 2022 as CFO of its Investor Communication Solutions business. She previously spent 18 years at American Express, most recently as Head of Merchant Pricing for the Americas. The CEO, Tim Gokey, praised her leadership in the accompanying press release, which is filed as Exhibit 99.1.
02—Key points
Key Highlights
- Ashima Ghei appointed Corporate Vice President and Chief Financial Officer, effective immediately, serving as principal financial and principal accounting officer
- Ghei previously served as Interim CFO since July 1, 2024, leading the global Finance team
- Base salary set at $600,000 with a target annual cash incentive of 100% of base salary
- Annual equity targets from 2025 of $850,000 in performance-based RSUs (vesting 2028) and $850,000 in stock options with four-year vesting
- Ghei joined Broadridge in January 2022 as CFO of the Investor Communication Solutions business
- Prior to Broadridge, Ghei spent 18 years at American Express, most recently as Head of Merchant Pricing for the Americas
- Filing states there is no arrangement or understanding with any other person regarding her selection, and she is not a party to any related-party transaction with the Company
03—Questions
Frequently Asked Questions
Who is the new Chief Financial Officer of Broadridge?
Ashima Ghei, who was appointed by the Board of Directors effective immediately on December 16, 2024. She had been serving as Interim CFO since July 1, 2024.
What is Ghei's compensation package?
She receives a $600,000 annual base salary and is eligible for an annual cash incentive with a target of 100% of base salary. Starting in calendar 2025 she is eligible for annual equity targets of $850,000 in performance-based RSUs vesting in 2028 and $850,000 in stock options with standard four-year vesting. For fiscal 2025 her cash incentive will be pro-rated.
What is Ghei's professional background?
Ghei joined Broadridge in January 2022 as CFO of its Investor Communication Solutions business. Before that she worked for 18 years at American Express, most recently as Head of Merchant Pricing for the Americas. She holds an undergraduate degree in Economics from Delhi University and an MBA from the Indian Institute of Management Calcutta.
Does the appointment involve any related-party transactions or family relationships?
The filing states there are no family relationships between Ghei and any director or executive officer, and that she is not a party to any transaction in which the Company is a participant. It also states there is no arrangement or understanding with any other person under which she was selected as CFO.
Who is Broadridge's CEO commenting on the appointment?
Tim Gokey, Chief Executive Officer, is quoted in the press release attached as Exhibit 99.1. He said Ghei has been a key partner to him and the leadership team and that he is confident she will help Broadridge continue to deliver trusted solutions and strong returns to shareholders.
04—Continue