Walter S. Berman

Executive Vice President and Chief Financial Officer at AMERIPRISE FINANCIAL

Since September 2005

Age

82 years

Tenure

Joined AMP in September 2005 as the Executive Vice President and Chief Financial Officer, having previously served as Executive Vice President and CFO at American Express Financial Corporation and as Corporate Treasurer at American Express.

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About

Walter S. Berman is the Executive Vice President and Chief Financial Officer of Ameriprise Financial (AMP) and has held this position since September 2005. At 82 years old, he has built a substantial career within the financial services industry through significant leadership roles.

Prior to joining AMP, he served as Executive Vice President and Chief Financial Officer at American Express Financial Corporation starting in January 2003, and he contributed to the financial operations of American Express as Corporate Treasurer from April 2001 to January 2004. These roles provided him with deep experience in financial management and corporate treasury operations.

While the documents do not offer further details about his personal background or educational qualifications, his long-standing career in high-level financial roles underscores his expertise and leadership in the industry.

Past Roles

Organization	Role	Date Range	Details
American Express Financial Corporation (AEFC)	Executive Vice President and Chief Financial Officer	January 2003 - September 2005	Served until AMP's spin-off from American Express
American Express	Corporate Treasurer	April 2001 - January 2004	Held prior to his AMP role

Fixed Compensation

Data from FY 2023

Component Name	Amount	Payment Schedule	Additional Details
Base Salary	$675,000	Annual (2023)	Fixed base salary for 2023
Deferred Compensation Plan	$31,805,691	Accrued in 2023; payable upon termination	Comprises executive contributions of $646,000 and company contributions of $161,500; aggregate earnings of $4,615,254 leading to the ending balance
Retirement Plan	$995,014	Payable upon termination	Present value of accumulated benefits; 55 years of credited service; fully vested
Supplemental Retirement Plan	$8,314,058	Payable upon termination	Present value of accumulated benefits; 55 years of credited service; fully vested
Termination Payments	Variable (e.g., Total Vested: $42,651,644 )	Upon termination	Vested balances: Retirement Plan ($995,014), 401(k) Plan ($1,314,564), Supplemental Retirement Plan ($8,536,375), Deferred Compensation Plan ($31,805,691). Other scenarios include: Voluntary ($3,230,000), Involuntary Not for Cause ($9,087,792), Involuntary/Good Reason ($29,241,204), Disability ($16,330,569), Death ($17,005,569)

Performance Compensation

Data from FY 2023

Annual Cash Incentive

Metric	Value	Details
Amount Earned	$3,230,000	Actual cash incentive earned in 2023
Threshold	Not specified	Specific performance threshold not provided
Target	$1,900,000	Target cash incentive
Maximum	$3,325,000	Cap on incentive payout
Grant Date / Effective Date	January 24, 2023 / January 27, 2023	Awards approved on January 24, 2023 and effective January 27, 2023

Long-Term Incentive Awards

Metric	Value	Details
Evaluation Basis	2022 performance	Awards funded from 2022 total incentive pool
Vesting Schedule	Three-year period (one-third per year)	Equity awards vest over three years, with incremental vesting
Performance Metrics	EPS growth, Average ROE, TSR modifier	TSR modifier adjustments up or down by 25 percentage points; minimum payout of 0% and maximum of 150% of target
Non-Equity Award Payout	Target: $1,900,000, Maximum: $3,325,000	Payout amounts for non-equity incentive awards
Equity Award Payout	Target: 6,532 shares, Maximum: 11,431 shares	Share-based award details
Grant Date	January 27, 2023	Award grant date
Grant Date Fair Value	$4,500,000	Fair value assigned on the grant date
Stock Option Exercise Price	$344.45 per share	Exercise price applicable to stock options

Performance Share Units (PSUs)

Metric	Value	Details
Vesting Schedule	Three-year performance period	PSU vesting at the end of the period
Performance Metrics	EPS growth, ROE, TSR modifier	Payout based on achieving performance goals; adjustments possible up or down by 25 percentage points
Minimum / Maximum Payout	Minimum: 0%, Maximum: 150% of target	Percentage range applied to PSU awards
Grant Date Fair Value	$2,250,000	For PSUs granted on January 27, 2023
Grant Date Stock Price	$344.45 per share	Stock price applicable on the grant date
Award Quantity	Target: 6,532 units, Maximum: 11,431 units	Number of PSUs awarded contingent on performance

These components outline the performance compensation for 2023, detailing cash incentives and long-term awards tied to specific performance metrics and vesting conditions.