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    Michael Q. Simonds

    President and Chief Executive Officer at TriNet Group Inc
    Board
    Since February 16, 2024
    Age
    50 years
    Education
    Holds a B.A. in Economics and Anthropology from Bowdoin College and an M.B.A. from Harvard Business School.
    Tenure
    Joined TriNet Group, Inc. as President and Chief Executive Officer on February 16, 2024, and serves as a Class III director on the Board with a term expiring at the 2026 annual meeting.

    Also at TriNet Group Inc

    KT
    Kelly Tuminelli
    Executive Vice President and Chief Financial Officer
    JV
    Jay Venkat
    Executive Vice President, Chief Digital & Innovation Officer
    SM
    Sidney Majalya
    Senior Vice President, Chief Legal Officer, and Secretary

    About

    Michael Q. Simonds, currently 50 years old, has established a strong academic foundation by earning a B.A. in Economics and Anthropology from Bowdoin College and an M.B.A. from Harvard Business School.

    In his professional career, he has accumulated considerable leadership experience. Prior to his current role, he held significant positions at Unum Group, including serving as Executive Vice President and Chief Operating Officer from February 2020 to February 2024, and as President and Chief Executive Officer of Unum US from July 2013 until February 2020, in addition to working as a consultant at McKinsey & Company.

    At TriNet Group, Inc., he assumed the role of President and Chief Executive Officer on February 16, 2024 and also joined the Board as a Class III director. His tenure at TriNet is marked by a focus on strategic growth and navigating challenging business conditions, including healthcare cost inflation and a cautious hiring environment.

    Throughout his career, his leadership has been underpinned by a commitment to operational excellence and community service, as demonstrated by his involvement on several non-profit boards focused on health, education, and financial stability.

    $TNET Performance Under Michael Q. Simonds

    Past Roles

    OrganizationRoleDate RangeDetails
    Unum GroupExecutive Vice President and Chief Operating OfficerN/AResponsible for all of Unum’s active businesses serving nearly 40 million workers globally
    Unum GroupPresident and CEO of Unum USN/ALed Unum Group’s largest business unit
    McKinsey & CompanyConsultantN/AServed a range of financial institutions
    Various Non-Profit Boards Board Member N/AInvolvement in boards focused on health, education, and financial stability

    Fixed Compensation

    Data from  FY 2024
    Component Name [Text]Amount [USD] [source]Payment Schedule [Text] [source]Additional Details [Text] [source]
    Base Salary$1,000,000 Semi-monthly Annual base salary payable in accordance with the company’s standard payroll dates
    Sign-On Bonus$3,000,000 One-time Subject to repayment on a pro-rated basis if Mr. Simonds voluntarily resigns or is terminated for cause before the second anniversary of his start date
    New Hire RSUs$1,600,000 Vests in full on December 31, 2024 Vesting is subject to Mr. Simonds's continued service on the vesting date
    2024 Annual RSUs$4,200,000 Vests over four years 4/16th vests on the 15th day of the second month after the one-year anniversary; remaining 12/16th vest quarterly over the next three years, subject to continued service

    Performance Compensation

    Data from  FY 2024

    Annual Target Cash Bonus

    Metric [Unit]Value [source]
    Target Amount [USD]$1,500,000 (150% of base salary of $1,000,000)
    Performance MetricsNot specified
    ThresholdNot specified
    Vesting ScheduleN/A
    Evaluation PeriodN/A
    Other ConditionsSubject to achievement of performance metrics set by the Company

    Annual PSUs

    Metric [Unit]Value [source]
    Target Value [USD]$7,800,000
    Grant Date2024 Refresh Grant Date
    Calculation MethodBased on the closing price per share on the applicable grant date, with the number of shares rounded down
    Performance MetricsSame as PSUs granted to other executive officers; specific metrics not provided
    Vesting ScheduleVesting based on performance and continued service; further details not specified
    Other ConditionsContinued Service required (as an Employee, Consultant, or Non-Employee Director)