EVERTEC, Inc. Files Definitive Proxy Statement

Ticker: EVTC · Form: DEF 14A · Filed: Apr 10, 2024 · CIK: 1559865

Evertec, Inc. DEF 14A Filing Summary
FieldDetail
CompanyEvertec, Inc. (EVTC)
Form TypeDEF 14A
Filed DateApr 10, 2024
Risk Levellow
Pages15
Reading Time18 min
Sentimentneutral

Sentiment: neutral

Topics: EVERTEC, Proxy Statement, DEF 14A, SEC Filing, Shareholder Meeting

TL;DR

<b>EVERTEC, Inc. has filed its Definitive Proxy Statement for the period ending December 31, 2023.</b>

AI Summary

EVERTEC, Inc. (EVTC) filed a Proxy Statement (DEF 14A) with the SEC on April 10, 2024. EVERTEC, Inc. filed a Definitive Proxy Statement on April 10, 2024. The filing covers the period ending December 31, 2023. The company's fiscal year ends on December 31st. EVERTEC, Inc. is incorporated in Puerto Rico. The filing is made pursuant to Section 14(a) of the Securities Exchange Act of 1934.

Why It Matters

For investors and stakeholders tracking EVERTEC, Inc., this filing contains several important signals. This filing provides shareholders with essential information regarding upcoming shareholder meetings, voting procedures, and executive compensation details. As a public company, EVERTEC is required to disclose information about its governance and executive compensation to ensure transparency and compliance with SEC regulations.

Risk Assessment

Risk Level: low — EVERTEC, Inc. shows low risk based on this filing. The filing is a routine DEF 14A, indicating standard disclosure requirements rather than a significant event or change.

Analyst Insight

Review the proxy statement for details on executive compensation, board nominations, and any shareholder proposals to understand management's and shareholders' priorities.

Key Numbers

  • 2023-12-31 — Fiscal Year End (Fiscal year end date)
  • 2024-04-10 — Filing Date (Date the filing was made)
  • 2024-05-23 — Period of Report (The period this filing pertains to)
  • 001-35872 — SEC File Number (Company's SEC file number)

Key Players & Entities

  • EVERTEC, Inc. (company) — Registrant name
  • 2024-04-10 (date) — Filing date
  • 2024-05-23 (date) — Period of report
  • 1934 Act (regulatory) — SEC Act
  • 001-35872 (regulatory) — SEC File Number
  • PR (location) — State of Incorporation
  • 7374 (industry) — Standard Industrial Classification
  • 660783622 (identifier) — IRS Number

FAQ

When did EVERTEC, Inc. file this DEF 14A?

EVERTEC, Inc. filed this Proxy Statement (DEF 14A) with the SEC on April 10, 2024.

What is a DEF 14A filing?

A DEF 14A is a definitive proxy statement sent to shareholders before annual meetings, covering executive compensation, board nominations, and shareholder votes. This particular DEF 14A was filed by EVERTEC, Inc. (EVTC).

Where can I read the original DEF 14A filing from EVERTEC, Inc.?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by EVERTEC, Inc..

What are the key takeaways from EVERTEC, Inc.'s DEF 14A?

EVERTEC, Inc. filed this DEF 14A on April 10, 2024. Key takeaways: EVERTEC, Inc. filed a Definitive Proxy Statement on April 10, 2024.. The filing covers the period ending December 31, 2023.. The company's fiscal year ends on December 31st..

Is EVERTEC, Inc. a risky investment based on this filing?

Based on this DEF 14A, EVERTEC, Inc. presents a relatively low-risk profile. The filing is a routine DEF 14A, indicating standard disclosure requirements rather than a significant event or change.

What should investors do after reading EVERTEC, Inc.'s DEF 14A?

Review the proxy statement for details on executive compensation, board nominations, and any shareholder proposals to understand management's and shareholders' priorities. The overall sentiment from this filing is neutral.

How does EVERTEC, Inc. compare to its industry peers?

EVERTEC, Inc. operates in the services sector, specifically computer processing and data preparation.

Are there regulatory concerns for EVERTEC, Inc.?

The filing is made under the Securities Exchange Act of 1934, requiring public companies to disclose information related to shareholder meetings and corporate governance.

Industry Context

EVERTEC, Inc. operates in the services sector, specifically computer processing and data preparation.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, requiring public companies to disclose information related to shareholder meetings and corporate governance.

What Investors Should Do

  1. Analyze executive compensation packages and any proposed changes.
  2. Review director nominations and corporate governance proposals.
  3. Identify any shareholder proposals and understand their implications.

Key Dates

  • 2024-04-10: Filing of Definitive Proxy Statement — Provides shareholders with information for upcoming meetings and voting.

Year-Over-Year Comparison

This is a routine DEF 14A filing and does not appear to represent a change from previous filings in terms of the type of document.

Filing Stats: 4,488 words · 18 min read · ~15 pages · Grade level 12.4 · Accepted 2024-04-10 16:56:22

Filing Documents

Executive compensation highlights

Executive compensation highlights 24 Named executive officers (NEOs) 25 Compensation philosophy and objectives 25 Say-on-pay 26 Role of executive officers in compensation decisions 26 Competitive compensation practices 26 Elements of compensation 27 Base salary 27 Annual cash incentive 27 Long-term equity incentives 29 Other compensation 32 Compensation risk assessment 33 Tax deductibility of executive compensation 33 Stock Ownership Guidelines 33 Anti-pledging and anti-hedging policies 34 Clawback Policy 34 Summary compensation table 35 Grants of plan-based awards 36 Outstanding equity awards at fiscal year end 37 Stock vested 38 Employment agreements 38 Severance policy 38 Potential payments upon termination of employment 39 Potential payments upon change in control 40 Payments upon termination or a change in control 42 Compensation committee interlocks and insider participation 42 Pension benefits and non-qualified deferred compensation 42 Compensation Committee Report 43 CEO Pay Ratio 44 Overview 44 Pay versus performance 45 Overview 45

Security ownership

Security ownership 49 Overview 49

Security ownership of certain beneficial owners

Security ownership of certain beneficial owners 49

Security ownership of management

Security ownership of management 49 Proposal 3: Ratification of appointment of Deloitte & Touche LLP as the Company's independent registered public accounting firm 51 Overview 51 Principal accounting fees and services 51 Audit Committee R eport 53 Certain relationships and related party transactions 54 Related Party Transactions Policy 54 Related Party Transactions 54 Proxy Statement for the 202 4 Annual Meeting 55 General 55 Record Date and shares outstanding 56 Quorum 56 Voting of proxies 56 Voting of shares 56 Required votes/effect of abstentions and broker non-votes 56 How you can vote 57 Revocation of proxies 58 Voting results 58 Solicitation 58 Householding of proxy materials 58 Other m atters 59 Stockholder proposals for the 202 5 annual meeting of stockholders 59 Other business 59 Appendix A i Table of Contents Proxy Statement summary Message from our President and CEO Highlights shown in this page are for the fiscal year ended December 31, 2023. All amounts are approximates. For more information on the Company's financial performance in 2023, please refer to our Annual Report on Form 10-K for the fiscal year ended on December 31, 2023. Evertec, Inc. 2024 Proxy Statement 1 Table of Contents Summary—director nominees 2 Evertec, Inc. 2024 Proxy Statement Table of Contents ESG highlights Results of the 2023 advisory vote on executive compensation Executive target compensation mix The charts below set forth the target compensation mix for our CEO and the average target compensation mix for our other NEOs during 2023, respectively. For purposes of these charts, "base salary" includes base salary and applicable statutory Christmas bonus, as such amounts are disclosed for each of our NEOs in the "Compensation Discussion and Analysis" section of this Proxy Statement. This summary highlights certain information contained in this Proxy Statement and does not contain all the information that you s

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