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Price T Rowe Group 8-K Report, Executive Changes (Oct 16, 2025)

Reports
Leadership Changes·Exhibits & Filings
Filing Date
Filed October 16, 2025
Period End
October 13, 2025
Security
TROW
In the record · 2016–202610-K1110-Q338-K83

TROW filed 11 annual reports (10-K), 33 quarterly reports (10-Q) and 83 current reports (8-K) between 2016 and 2026.

  1. Leadership change8-K · Apr ’22Apr ’22
  2. Leadership change8-K · Oct ’24Oct ’24

01—Abstract

Summary

Summary of the 8-K filed October 16, 2025. Cited figures are marked; the original filing is the authoritative source.

T.

Rowe Price Group, Inc. (NASDAQ-GS: TROW) filed this Form 8-K on October 16, 2025 under Item 5.02 to report that its Board of Directors, on October 13, 2025, increased the number of directors from 11 to 13 and elected Allan Golston and Richard Verma as directors. The Board determined both are independent under NASDAQ Listed Company Rules, SEC rules, and the company's Corporate Governance Guidelines. Golston was appointed to the Audit Committee and the Executive Compensation and Management Development Committee; Verma was appointed to the Nominating and Corporate Governance Committee and the Executive Compensation and Management Development Committee.

Golston is President of the United States Program at the Gates Foundation, a role he has held since 2006, and previously served as Interim Executive Director of the Global Health Program and as Chief Financial and Administrative Officer. He also sits on the board of Harley-Davidson and previously served on the board of Stryker Corporation through May 2025. Verma is Chief Administrative Officer of Mastercard, overseeing law, government affairs and policy, franchise, corporate security, and community and belonging functions since 2025.

He previously served as Deputy Secretary of State for Management and Resources, as Mastercard's general counsel, and as U.S. Ambassador to India from 2014 to 2017. Verma also served on T. Rowe Price's board from 2018 to 2023.

The accompanying press release (Exhibit 99.1) quotes Chair, CEO and President Rob Sharps welcoming the new directors and describes T. Rowe Price as managing $1.77 trilliona in client assets as of September 30, 2025, about two-thirds of which are retirement-related. The filing involves board composition and governance rather than financial results.

02—Key points

Key Highlights

  1. Board expanded from 11 to 13 directors, with Allan Golston and Richard Verma elected effective October 13, 2025.
  2. The Board determined both new directors are independent under NASDAQ, SEC and company governance standards.
  3. Golston joins the Audit Committee and the Executive Compensation and Management Development Committee.
  4. Verma joins the Nominating and Corporate Governance Committee and the Executive Compensation and Management Development Committee.
  5. Golston is President of the United States Program at the Gates Foundation and previously was its Chief Financial and Administrative Officer.
  6. Verma is Chief Administrative Officer of Mastercard and a former U.S. Ambassador to India and former Deputy Secretary of State for Management and Resources.
  7. Verma previously served on T. Rowe Price's board from 2018 to 2023; the company reports $1.77 trillion in client assets as of September 30, 2025.

03—Questions

Frequently Asked Questions

  1. Who were the new directors added to T. Rowe Price's Board?

    The Board elected Allan Golston and Richard Verma as directors on October 13, 2025, increasing the Board from 11 to 13 members.

  2. Are the new directors considered independent?

    Yes. The Board determined that each of Golston and Verma is an 'independent director' under NASDAQ Listed Company Rules, SEC rules, and the company's Corporate Governance Guidelines.

  3. What committees will the new directors serve on?

    Golston was appointed to the Audit Committee and the Executive Compensation and Management Development Committee. Verma was appointed to the Nominating and Corporate Governance Committee and the Executive Compensation and Management Development Committee.

  4. What is the background of the new directors?

    Golston is President of the United States Program at the Gates Foundation and has finance leadership experience, including as its Chief Financial and Administrative Officer. Verma is Chief Administrative Officer of Mastercard and previously served as Deputy Secretary of State for Management and Resources, Mastercard's general counsel, and U.S. Ambassador to India.

  5. Is Richard Verma new to T. Rowe Price's Board?

    No. The filing states Verma previously served on the company's Board from 2018 to 2023, and the press release says he is returning to the Board.

04—Continue

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