Richard Stingi
BROADRIDGE FINANCIAL SOLUTIONSAbout Richard Stingi
Richard J. Stingi is Corporate Vice President and Chief Human Resources Officer (CHRO) at Broadridge Financial Solutions, appointed CHRO in February 2021 after serving as Interim CHRO from September 2020; he joined Broadridge in 2013 and previously spent 22 years at Goldman Sachs as a Managing Director in Human Capital Management . He is 61 years old and leads global talent management, including engagement, retention, total rewards, succession, and culture-building . Company performance under the current leadership framework includes FY2025 Net Income of $839.5 million and Adjusted EPS of $8.55, with cumulative TSR value per $100 invested reaching $209.37 by FY2025 and FY2025 Recurring revenue growth of 7% (constant currency) and 11% Adjusted EPS growth, providing important context for incentive alignment and pay-for-performance design that governs executive officers including the CHRO .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Broadridge Financial Solutions | CHRO | 2021–present | Leads global HR strategy: engagement, retention, total rewards, succession, culture-building . |
| Broadridge Financial Solutions | Interim CHRO | 2020–2021 | Stabilized HR leadership; advanced HR operating model . |
| Broadridge Financial Solutions | Lead HR Business Partner (GTO & Corporate Functions); HR transformation lead | 2013–2020 | Embedded HR business partnership; led improvement and transformation initiatives across HR starting in 2019 . |
| Goldman Sachs | Managing Director, Human Capital Management | ~1991–2013 (22 years) | Senior leadership across talent and HR disciplines in a global financial institution . |
External Roles
- Not disclosed for Mr. Stingi in the company’s proxy and filings .
Fixed Compensation
Program design for executive officers (including the CHRO):
- Base Salary: Reviewed annually based on responsibility, performance, market competitiveness .
- Stock Ownership Guideline: Other executive officers (incl. CHRO) must hold equity equal to 2x base salary; unexercised options and unvested RSUs/PRSUs do not count; 78% of executive officers met ownership multiples as of June 30, 2025; all executives complied with retention requirements (hold at least 50% of net shares until guideline met, then 50% for one year) .
- Hedging/Pledging: Prohibited; executives must preclear transactions and trade only in window periods; no margin or pledging of company stock allowed .
- Clawback: Expanded in FY2025 to include time-vested equity, discretionary bonuses, and severance; recovery in event of restatement tied to intentional acts or in cases of misconduct/failed supervision causing financial or reputational harm .
Performance Compensation
Broadridge’s incentive architecture (applies to executive officers, including CHRO) emphasizes multi-metric, multi-horizon pay-for-performance:
| Component | Metric | Weighting | FY2025 Target Design | FY2025 Achievement/Notes |
|---|---|---|---|---|
| Annual Cash Incentive | Financial goals (Fee-Based Revenue, Adjusted EBT, Closed Sales, Client Onboarding) | 70% total; 10%, 30%, 20%, 10% respectively | Threshold/Target/Max set annually vs plan; onboarding added for FY2025 | Corporate financial component paid at 92% for NEOs; Onboarding achieved 82% of target (69.7% for compensation due to slope method) . |
| Annual Cash Incentive | Client Satisfaction (NPS) | 5% | Target midpoint at +3% YoY vs FY2024 | Paid at 100% of target . |
| Annual Cash Incentive | Strategic & Leadership | 25% | CEO-aligned priorities: financial performance, strategic growth, human capital, technology/cyber, client/innovation | Committee assessed strong performance; NEOs paid 101–105% on this portion . |
| Long-Term Equity | PRSUs (Compensation Adjusted EPS over 3-year period) | 50% of LTI | FY2025 grants cover FY2025–FY2027; payout 0–150%; vests Oct 1 following performance window | Transitioned to 3-year PRSUs (no PRSUs earned in FY2025 due to cycle change) . |
| Long-Term Equity | Stock Options | 50% of LTI | 10-year term; FMV strike; vest 25% annually over 4 years | Annual grant timing and windowing governed by Equity Grant Policy; grants avoid MNPI windows . |
Forward-looking design changes:
- FY2026: Add organic Recurring revenue growth to PRSU metrics; associate engagement added to strategic/leadership goals (annual bonus) .
Equity Ownership & Alignment
| Policy/Item | Detail | Relevance |
|---|---|---|
| Ownership guideline | 2x base salary for “other executive officers” (includes CHRO) | Enhances alignment; mandates meaningful long-term ownership. |
| Compliance status (FY2025) | 78% of executive officers met guideline; remainder are newer and progressing; all in retention compliance | Indicates generally strong adherence; timing-based shortfalls common for new appointees. |
| Hedging/pledging | Prohibited; no margin accounts or pledging; preclearance and window trading required | Reduces misalignment/forced sale risk; lowers governance red flags. |
| Clawback scope | Includes incentive comp, time-vested equity, discretionary bonuses, severance under specified triggers | Strong recoupment protections; mitigates risk of unmerited payouts. |
Historical starter equity snapshot (as of initial Form 3 filing 02/12/2021):
- Common shares: 2,974.799 directly owned (included PSU vesting) .
- RSUs: FY2018 (340), FY2019 (432), FY2020 (1,360) with April 1 vesting schedules (various years) .
- Options: 5,635 @ $93.88 (vest on 4th anniversary of 2/12/2018 grant); 2,063 granted 2/4/2020 with 515 vested by 2/4/2021 and 1,548 remaining to vest equally over next 3 years at $117.34 .
Note: Current holdings are not individually tabulated in the FY2025 proxy; executive officers as a group (directors + execs) beneficially owned 1,325,075 shares (1.1%) as of July 31, 2025 .
Employment Terms
| Topic | Terms |
|---|---|
| Employment status | Executive officers (other than the UK-based GTO leader) are at-will; offers approved by Compensation Committee; standard elements include salary, annual bonus, LTI; one-time transition components as needed . |
| Change-in-Control (CIC) Plan (double trigger) | Cash: 150% of current total annual compensation; pro-rata annual bonus (average of prior two years) . Equity: 100% vesting of options and time-based RSUs; PRSUs vest at target (if CIC in year 1–2) or based on actual performance to last completed fiscal quarter (if CIC in year 3) . |
| Officer Severance Plan (non-CIC) | Base salary continuation: 18 months for executive officers other than CEO; annual bonus for fiscal year of termination paid on normal schedule (prorated for non-CEO); continued vesting of post-plan equity during severance period (PRSU/RSU prorated if termination prior to performance end) . |
| Restrictive covenants | Receipt of severance requires release plus non-competition, non-solicitation, confidentiality; non-compete enforced for severance period (18 months for executives other than CEO) . |
| Insider trading & grant timing | Preclearance required; transactions only during window periods; equity grants not within 4 business days before/1 business day after MNPI releases; annual grants timed to avoid MNPI . |
| Related party transactions | No related party transactions >$120,000 in FY2025 . |
Company Performance Context (for incentive alignment)
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Net Income (USD mm) | 547.5 | 539.1 | 630.6 | 698.1 | 839.5 |
| Adjusted EPS (USD) | 5.66 | 6.46 | 7.01 | 7.73 | 8.55 |
| TSR value of $100 | 130.03 | 116.67 | 138.21 | 167.11 | 209.37 |
Additional FY2025 compensation-relevant outcomes:
- Recurring revenue growth (constant currency): 7%; Adjusted EPS growth: 11% .
- Say-on-Pay support at 2024 annual meeting: ~89.2% .
Compensation Peer Group (benchmarking reference)
Equifax; Euronet Worldwide; FactSet Research Systems; Fidelity National Information Services; Fiserv; Gartner; Global Payments; Intercontinental Exchange; Jack Henry & Associates; Paychex; SS&C Technologies; Verisk Analytics; Western Union . Target total compensation generally positioned at market median, with individual adjustments for role, tenure and performance .
Vesting Schedules and Potential Selling Windows
| Award Type | Typical Grant Timing | Vesting | Notes |
|---|---|---|---|
| Stock Options | Annual (e.g., Feb 4, 2025) | 25% per year over 4 years; 10-year term; FMV strike | Windowed grants per Equity Grant Policy; preclearance/trading windows required . |
| PRSUs | Annual (e.g., Oct 1, 2024) | Earned over 3-year performance period; vest Oct 1 following the period | FY2025 grant covers FY2025–FY2027; payout 0–150% of target . |
Implication: Potential selling pressure can coincide with option vest anniversaries (typically February) and PRSU vest dates (October 1 following 3-year cycles), but is mitigated by preclearance, trading windows, and retention/holding requirements .
Risk Indicators & Governance
- Clawback broadened to include time-vested equity and severance in specified scenarios; recovery possible up to all recoupable compensation depending on trigger .
- Hedging and pledging prohibited; enhances alignment .
- No related party transactions >$120k in FY2025 .
- Consistent Say-on-Pay support indicates investor acceptance of design (89.2% in 2024) .
Investment Implications
- Alignment: The CHRO participates in a program heavily weighted to performance-based incentives (annual financial/operational metrics and multi-year PRSUs) with robust ownership and clawback policies—favorable for long-term alignment and downside risk control .
- Retention: Double-trigger CIC protection (150% cash plus equity vesting rules) and 18-month severance with non-compete covenants balance retention and shareholder protections; equity vesting cadence and ownership rules reduce immediate turnover risk but create periodic liquidity windows (Feb/Oct) .
- Execution/HR leverage: FY2025 strategic/leadership components explicitly weight human capital and associate engagement (expanding in FY2026), tying CHRO-led outcomes to incentive payouts—supportive for sustained operating performance and client satisfaction targets .
- Governance quality: Strong insider trading controls, grant timing policy, no pledging, and consistent investor support reduce governance red flags and limit adverse trading signals .
Note: Mr. Stingi is not an NEO in FY2025; therefore, individual pay tables (salary, bonus, grants, ownership line item) are not disclosed in the proxy. Program terms above apply to executive officers (including the CHRO), and historical Form 3 provides an initial snapshot of his equity holdings at appointment .