Michael G. O’Grady

Chairman, CEO, and President at Northern Trust Corp

Board

Since 2018

Age

59 years

Tenure

Joined NTRS in 2011 and progressed through key roles including Chief Financial Officer (2011–2014), Executive Vice President and President of Corporate & Institutional Services (2014–2016), and later serving as President (2017), Chief Executive Officer (2018), and Chairman of the Board (2019).

Also at Northern Trust Corp

Alexandria Taylor

Executive Vice President and CHRO

DEG

Daniel E. Gamba

President of Asset Management

JBK

Jane B. Karpinski

Executive Vice President, Global Head of Regulatory Affairs

About

Michael G. O’Grady is a seasoned leader who has significantly shaped the strategic direction of Northern Trust Corporation. Since joining the company in 2011, he has been instrumental in steering the organization through a series of high-impact roles that have underpinned its growth and stability.

Before embracing his executive roles at Northern Trust, he brought in considerable expertise from the investment banking sector, having served as a Managing Director at Bank of America Merrill Lynch from 2000 to 2011. This background laid a strong foundation for his subsequent contributions to the firm’s financial and operational excellence.

Over the years, his rapid ascent through various leadership positions—from Chief Financial Officer to Executive Vice President and then President—showcases his versatility and deep understanding of the financial industry. With his appointment as Chief Executive Officer in 2018 and later as Chairman in 2019, he has consistently demonstrated his commitment to driving innovation and sustainable growth.

At 59 years old, his blend of experience and forward-thinking vision continues to inspire confidence within both the organization and its stakeholders, reinforcing Northern Trust Corporation’s position as a leading financial institution.

$NTRS Performance Under Michael G. O’Grady

Past Roles

Organization	Role	Date Range	Details
Northern Trust Corporation	President of Corporate & Institutional Services	2014–2016	Held prior to appointment as Chairman, CEO, and President
Northern Trust Corporation	Chief Financial Officer	2011–2014	Held prior to appointment as Chairman, CEO, and President
Northern Trust Corporation	Executive Vice President	N/A	Specific role not detailed
Bank of America Merrill Lynch	Managing Director, Investment Banking Group	2000–2011	Preceded joining Northern Trust

Fixed Compensation

Data from FY 2023

Component Name	Amount	Payment Schedule	Additional Details
Salary	$1,000,000	Annual	Fixed base salary
Contributions to TIP and Supplemental TIP	$30,000	Annual	Part of All Other Compensation
Perquisites and Other Personal Benefits	$4,983	Annual	Includes personal use of company automobiles ($1,523) and wealth planning/tax consulting ($3,460)
Tax Reimbursements and Other	$908	Annual	Tax reimbursements for personal automobile use
Total Fixed Compensation	$1,035,891	Annual	Sum of Salary and All Other Compensation components

Performance Compensation

Data from FY 2023

Short-Term Annual Cash Incentive

Component	Amount ($)	Performance Metrics	Threshold	Target	Maximum	Evaluation Period	Vesting Schedule	Additional Details
Short-Term Annual Cash Incentive	500,000	Based on corporate and individual objectives	N/A	N/A	N/A	2023	Immediate payout	Performance evaluated in early 2024

Performance Stock Units (PSUs)

Component	Fair Value ($)	Target Units	Performance Metric (ROE)	Threshold	Target Range	Maximum	Evaluation Period	Vesting Schedule	Additional Details
PSUs	5,525,060	58,796	3-Year Average ROE (Absolute & Relative)	9.0%	12.0%-13.0%	15.0% or greater	2023-2025	Vests at end of period based on performance (0%-150%)	Dividend equivalents deferred until vesting

Restricted Stock Units (RSUs)

Component	Fair Value ($)	Units Granted	Performance Metric	Threshold	Target	Maximum	Evaluation Period	Vesting Schedule	Additional Details
RSUs	2,975,090	31,660	Time-based	N/A	N/A	N/A	2023-2027 (4 years)	25,437 on Mar 1, 2024; 19,754 on Mar 1, 2025; 13,874 on Mar 1, 2026; 7,594 on Mar 1, 2027	Constitutes 35% of the long-term incentive mix

Overall Long-Term Incentive Pay Mix

Total Long-Term Incentives: 8,200,000 with 65% in PSUs and 35% in RSUs.