8-KLeadership ChangesRegulation FDExhibits & Filings

S&P Global Inc. 8-K Report, Executive Changes (Oct 15, 2024)

Filed October 15, 2024For Securities:SPGI

Summary

S&P Global Inc. (SPGI) has announced the appointment of Eric Aboaf as its new Chief Financial Officer (CFO), effective February or March 2025. Mr. Aboaf brings extensive financial leadership experience, most recently serving as CFO and Vice Chairman at State Street Corporation since 2016. His background includes a strong track record in global financial strategy, treasury, accounting, reporting, M&A, and investor relations. This appointment is a significant leadership transition for S&P Global. Mr. Aboaf's compensation package includes a base salary of $825,000, a target short-term incentive of $1,800,000, and significant equity awards totaling $6,500,000 in his first year, comprising both performance-based and time-based restricted stock units. He will also receive a one-time signing bonus of $2,400,000 and a one-time equity award of $5,900,000 to compensate for forfeited compensation from his previous employer. This move signals a strategic investment in experienced financial leadership as the company moves forward.

Key Highlights

  • 1Eric Aboaf appointed as new Chief Financial Officer (CFO), effective February/March 2025.
  • 2Mr. Aboaf joins from State Street Corporation, where he held CFO and Vice Chairman roles.
  • 3Annual base salary for Mr. Aboaf set at $825,000.
  • 4Target short-term incentive opportunity of $1,800,000 for 2025 (prorated).
  • 5Significant annual equity-based awards with a target opportunity of $6,500,000 (PSUs and RSUs).
  • 6One-time signing bonus of $2,400,000 to offset forfeited compensation.
  • 7One-time equity award of $5,900,000 (RSUs and PSUs) to compensate for forfeited equity.

Frequently Asked Questions

Mr. Aboaf's appointment is anticipated to become effective in February of 2025 and in no event later than March 25, 2025.

For his first year, Mr. Aboaf's compensation includes a base salary of $825,000, a target short-term incentive opportunity of $1,800,000 (prorated), and target annual equity awards of $6,500,000. Additionally, he is receiving a one-time signing bonus of $2,400,000 and a one-time equity award of $5,900,000 to compensate for forfeited compensation from his previous employer.

The one-time equity award consists of RSUs and PSUs. The RSU portion will vest in three equal installments on the first, second, and third anniversaries of the grant date, subject to continued employment. The PSU portion will vest at the end of a three-year performance period, contingent upon achieving performance metrics determined by the Compensation Committee.

No, the filing states there are no family relationships between Mr. Aboaf and any director or executive officer of the Company, and there are no reportable relationships or related transactions between Mr. Aboaf and the Company.