Laura E. Simpson
Executive Vice President, Chief Legal Officer and Secretary at 
Artisan Partners Asset Management
Artisan Partners Asset ManagementExecutive
About Laura E. Simpson
Laura E. Simpson, 49, is Executive Vice President, Chief Legal Officer (CLO) and Corporate Secretary of Artisan Partners Asset Management (APAM). She became CLO and Secretary in October 2023, previously serving as General Counsel (Oct 2022–Oct 2023), Deputy General Counsel (Jan 2015–Sep 2022) and Associate Counsel (Mar 2011–Dec 2014), and was named a managing director in 2023 . As Corporate Secretary, she is the signatory on the company’s 8-K filings and key corporate actions . Business performance context under her tenure as CLO includes APAM’s 2024 revenue growth of 14% year-over-year, expansion of adjusted operating margin by 220 bps, and dividends of $3.48 per share for 2024; the firm emphasizes long-term value creation with metrics across AUM, revenue, margins, fees and investment performance . Pay-versus-performance disclosure shows five-year TSR value of $202.51 (from an initial $100 in 2020) and 2024 revenue of $1,111.8 million .
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| Artisan Partners Asset Management | Executive Vice President, Chief Legal Officer and Secretary | Oct 2023–Present | Oversees enterprise legal, governance and board/SEC processes; Corporate Secretary for board and shareholder matters . |
| Artisan Partners | General Counsel | Oct 2022–Oct 2023 | Led firm-wide legal strategy and oversight . |
| Artisan Partners | Deputy General Counsel | Jan 2015–Sep 2022 | Senior legal leadership supporting investment, distribution, vehicle and governance functions . |
| Artisan Partners | Associate Counsel | Mar 2011–Dec 2014 | Corporate and regulatory counsel . |
Fixed Compensation
| Component | 2024 Policy/Practice | Notes |
|---|---|---|
| Base salary (CEO) | $500,000 | Unchanged since 2018 . |
| Base salary (other executive officers) | $300,000 | Unchanged since 2018; applies to executive officers outside CEO; APAM avoids formulaic “guarantees” . |
| Retirement benefits | 401(k) defined contribution; 100% match of employee contributions up to IRS cap ($23,000 for 2024) | Executives participate on the same basis as other U.S. employees . |
| Perquisites | Standard employee benefits (medical, life, LTD, HSA, parking/transit, on-site food/beverages) | Offered on a nondiscriminatory basis . |
APAM does not use employment agreements, guarantee bonuses, provide pension/SERP benefits to NEOs, or offer “golden parachute” tax gross ups .
Performance Compensation
APAM’s program emphasizes discretion tied to long-horizon outcomes, not formulaic scorecards. Performance-based pay mixes annual cash and long-duration equity; roughly half of executive equity is subject to “career” vesting conditions to drive retention and long-term alignment .
| Metric/Mechanism | How APAM uses it | Weighting/Targeting | Payout mechanics | Vesting |
|---|---|---|---|---|
| Strategic objectives & key priorities | Primary lens for determining bonus/equity amounts (Investments, Business Mgmt, Financials, Sustainability) | No fixed weights; set annually; tracked quarterly . | Committee applies negative discretion vs a capped framework; tailors mix of cash/equity . | Equity vesting detailed below. |
| Long-term growth/value: AUM growth, revenue growth, sales growth | Evaluated over multi-year horizons to align with value creation | No fixed weights | Informs size/mix of awards . | n/a |
| Stability/predictability: Adjusted operating margin, weighted average fee, investment performance | Evaluated alongside growth to preserve durable economics | No fixed weights | Informs size/mix of awards . | n/a |
| Equity awards (restricted stock: standard + career) | Standard RS: 5-year pro-rata; Career shares: vest only upon qualifying retirement (with eligibility ratcheting 20% per year) | n/a | Granted annually post-year; balances with cash to limit forced selling . | Standard: annual pro-rata; Career: qualifying retirement; double-trigger CoC acceleration; death/disability acceleration; certain involuntary termination relief after 5 years/10 years service . |
| PSUs (select execs) | 3-year performance period; service + relative adj. op. margin and/or TSR vs peer median | Thresholds: 50% service; 100% if either condition ≥ median; 150% if both | Half pays out at assessment; half remains as career PSUs (retirement vest) . | Double-trigger CoC/death/disability acceleration; 10-year service relief post 5th anniversary . |
2024 firm results context: AUM up 7.3% ending at $161.2B; average AUM up 15.0%; revenue up 14.0%; adjusted operating margin up 220 bps; dividends of $3.48/share .
Equity Ownership & Alignment
| Topic | Policy/Status | Relevance to selling pressure/alignment |
|---|---|---|
| Stock ownership guidelines | CEO: 8x base salary; other exec officers: 3x base salary; 5-year compliance window (status disclosed only for NEOs; not disclosed for Simpson) . | Drives sustained equity holding; contributes to alignment. |
| Clawback | Mandatory recovery of erroneously awarded incentive-based comp after accounting restatements on a “no-fault” basis for prior 3 fiscal years . | Deters aggressive accounting; protects shareholders. |
| Hedging/Pledging | Hedging prohibited; pledging restricted when in possession of MNPI or during blackout . | Limits misalignment/leveraged risk-taking. |
| Stockholders agreement | Employee-granted shares are subject to an irrevocable voting proxy to a three-member stockholders committee; represented ~9.8% of combined voting power as of the 2025 record date . | Centralizes employee vote; supports governance stability. |
| Resale/Registration rights | Board historically restricted employee-partner liquidity, but has waived resale restrictions for remaining employee-partners; details governing exchanges and shelf resales described in proxy . | Waiver increases eligible supply; actual selling requires monitoring of Form 4 filings (not disclosed here). |
| Individual beneficial ownership | APAM discloses directors/NEOs individually; non-NEO executive ownership (including Simpson) not broken out; only aggregated group ownership provided . | Simpson’s specific share count/RSUs/PSUs not individually disclosed. |
Employment Terms
| Provision | Terms |
|---|---|
| Employment agreement | None; executives are “at-will” . |
| Severance | No standard severance program; may be negotiated case-by-case at termination . |
| Non-compete/Non-solicit | Equity award agreements include restrictive covenants (non-compete and non-solicit) generally for one year post-employment; enforceability may vary . |
| Change-of-control | Equity uses double-trigger acceleration (termination without cause or resignation for good reason within two years post-CoC) . |
| Death/Disability | Equity vests upon death or disability . |
| Involuntary termination (no cause) | After 5th anniversary of grant, eligible career shares (and career PSUs for certain execs) vest if recipient has ≥10 years of service . |
| Retiree health | Career award recipients with ≥10 years of service may access retiree health plan (employee-paid) . |
Performance & Track Record
| Area | Evidence |
|---|---|
| Governance/execution | Simpson acts as Corporate Secretary and authorized signatory on current reports (e.g., CEO transition 8-K; financing agreements 8-K) . |
| Firm performance context | 2024: Revenue $1,111.8m (+14% YoY); adjusted operating margin 33.8% (+220 bps YoY); average AUM +15.0%; dividends $3.48/share; focus on long-term value-added investment performance and discipline on fees . |
| TSR context | Five-year company TSR value of $202.51 vs peer group $215.14; 2024 revenue $1,111.8m . |
Say-on-Pay & Shareholder Feedback
| Year | Say-on-pay support | Notes |
|---|---|---|
| 2024 meeting | ~96% approval | Targeted engagement with top 20 active and top 5 passive holders; no concerns raised about program . |
Compensation Committee & Peer Constructs
- Committee: Independent; uses McLagan as independent consultant; avoids benchmarking as a binding target but reviews peers as a reference .
- PSU peer group (used for performance testing in 2022 PSU cohort): AllianceBernstein, Affiliated Managers Group, BlackRock, Federated Hermes, Franklin Resources, Invesco, Janus Henderson, Lazard, T. Rowe Price, Victory Capital, Virtus Investment Partners .
Investment Implications
- Alignment and retention: APAM’s career-vesting architecture (half of equity subject to retirement vesting), ownership guidelines, no employment contracts, and double-trigger CoC terms point to durable retention incentives and reduced near-term selling pressure for senior executives like Simpson; equity vesting typically requires long service and/or qualifying retirement .
- Limited parachute risk: Absence of employment agreements, no standard severance, and no tax gross-ups reduce headline parachute exposure; equity acceleration is conditioned on double-trigger CoC and other limited cases .
- Potential supply dynamics: The Board’s waiver of resale restrictions for employee-partners increases the pool of exchange-eligible units; however, governance controls (stockholders agreement) and insider trading/blackout rules moderate timing; actual selling pressure should be monitored via Form 4s (not included in proxy) .
- Pay-for-performance oversight: Discretionary, long-horizon metrics (AUM/revenue growth, margins, fees, investment performance) are consistently applied; strong 2024 operating performance and robust say-on-pay support suggest low governance overhang risk near term .
Data availability note: APAM does not disclose individual compensation, award grants, or ownership detail for Simpson in the NEO tables; analysis above relies on enterprise-wide executive compensation design and governance policies applicable to executive officers, plus Simpson’s disclosed roles and responsibilities .