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    Andrew C. Florance

    CEO, President, and Founder at CoStar Group Inc
    Board
    Since 1987
    Age
    60 years
    Education
    Holds a Bachelor of Arts in Economics from Princeton University.
    Tenure
    Founded the company in 1987 and has served as its President and CEO since then.

    Also at CoStar Group Inc

    CL
    Christian Lown
    CFO
    CE
    Cyndi Eakin
    Chief Accounting Officer
    FAS
    Frank A. Simuro
    Chief Technology Officer

    About

    Andrew C. Florance is widely recognized for his visionary leadership in transforming a fledgling startup into a market-leading company in the commercial real estate information and analytics industry. Over the years, he has steered the organization through significant milestones, including a pivotal initial public offering in July 1998, and the strategic expansion into international markets.

    His commitment to strategic growth is exemplified by a series of more than 30 acquisitions across multiple countries—efforts that have solidified the company’s global footprint and competitive advantage.

    Alongside his professional achievements, his strong educational foundation in economics has informed his pragmatic yet forward-thinking approach to business, leaving a lasting impact on the industry and the communities the company serves.

    $CSGP Performance Under Andrew C. Florance

    External Roles

    Organization Role Date Range Details
    Washington National Cathedral Chair of the Cathedral Chapter N/A Oversees the Cathedral Chapter
    American Real Estate Society (ARES) Board Member N/A N/A
    Management Leadership for Tomorrow Board Member N/A Focused on developing diverse leaders and expanding talent pipelines

    Fixed Compensation

    Data from  FY 2023
    Component NameAmountPayment ScheduleAdditional Details
    Base Salary $1,000,000AnnuallyFixed annual base salary
    401(k) Plan Employer Matching Contribution $13,200AnnuallyEmployer matching contribution for 401(k)

    Performance Compensation

    Data from  FY 2023

    Annual Cash Incentive Awards

    Metric [Unit/Scale]Value [Citation]
    Weight100% (Corporate Goal)
    Threshold$750,000 (75% of base salary / 50% target)
    Target$1,500,000 (150% of base salary)
    Maximum (Cap)$3,000,000 (300% of base salary / 200% target)
    Actual Award$2,250,000 (225% of base salary based on 150% target achievement)
    Evaluation PeriodCalendar Year 2023 (implied)
    Vesting ScheduleNot applicable for cash awards

    Equity Incentive Awards

    Performance-Based Restricted Stock

    Metric [Unit/Scale]Value [Citation]
    Threshold Shares24,600 shares
    Target Shares61,500 shares
    Maximum Shares147,600 shares
    Vesting ConditionsBased on three-year cumulative revenue goal and relative TSR

    Stock Option Awards

    Metric [Unit/Scale]Value [Citation]
    Grant DateFebruary 14, 2023
    Number of Options73,400 options
    Exercise Price$76.78 per share
    Grant Date Fair Value$2,119,058
    Vesting SchedulePro rata annual installments over three years

    Grants of Plan-Based Awards

    Non-Equity Incentive Plan Awards

    Metric [Unit/Scale]Value [Citation]
    Threshold$750,000
    Target$1,500,000
    Maximum$3,000,000

    Equity Incentive Plan Awards

    Metric [Unit/Scale]Value [Citation]
    Threshold Shares24,600 shares
    Target Shares61,500 shares
    Maximum Shares147,600 shares
    Grant Date Fair Value$11,332,728

    Stock Awards

    Metric [Unit/Scale]Value [Citation]
    Number of Shares138,300 shares
    Grant Date Fair Value$10,618,674

    Option Awards

    Metric [Unit/Scale]Value [Citation]
    Number of Options73,400 options
    Exercise/Base Price$76.78 per share
    Grant Date Fair Value$2,119,058

    Additional Stock Awards

    Metric [Unit/Scale]Value [Citation]
    Grant DateMarch 15, 2023
    Number of Shares18,922 shares
    Grant Date Fair Value$1,274,586

    Note: Vesting schedules for the Grants of Plan-Based Awards were not explicitly detailed in the documents.