Voya Financial, Inc. Announces 2024 Annual Meeting of Shareholders

Ticker: VOYA-PB · Form: DEF 14A · Filed: Apr 11, 2024 · CIK: 1535929

Voya Financial, Inc. DEF 14A Filing Summary
FieldDetail
CompanyVoya Financial, Inc. (VOYA-PB)
Form TypeDEF 14A
Filed DateApr 11, 2024
Risk Levellow
Pages15
Reading Time17 min
Key Dollar Amounts$3.8 billion, $1.13 million
Sentimentbullish

Sentiment: bullish

Topics: Voya Financial, Annual Meeting, Shareholder Meeting, Proxy Statement, Financial Performance

TL;DR

<b>Voya Financial invites shareholders to its 2024 Annual Meeting on May 23, 2024, highlighting strong 2023 growth in Wealth, Health, and Investment Management segments.</b>

AI Summary

Voya Financial, Inc. (VOYA-PB) filed a Proxy Statement (DEF 14A) with the SEC on April 11, 2024. Voya Financial, Inc. will hold its 2024 Annual Meeting of Shareholders on Thursday, May 23, 2024. The company reported over 10% growth in full-service recurring deposits for Wealth Solutions in 2023 compared to 2022. Health Solutions saw annualized in-force premiums and fees grow nearly 20% in 2023, boosted by the Benefitfocus acquisition. Investment Management delivered $3.8 billion in International Retail net flows in 2023. Voya highlights its strategic positioning in capital-light businesses and focus on deploying excess capital for shareholder returns.

Why It Matters

For investors and stakeholders tracking Voya Financial, Inc., this filing contains several important signals. The annual meeting is a key event for shareholders to vote on corporate matters and hear management's strategic outlook. The reported growth figures in key business segments demonstrate the company's execution of its strategy and its ability to generate value.

Risk Assessment

Risk Level: low — Voya Financial, Inc. shows low risk based on this filing. The filing is a routine proxy statement (DEF 14A) and does not contain new financial performance data or strategic shifts that would indicate significant risk.

Analyst Insight

Shareholders should review the proxy materials to understand voting matters and the company's performance and outlook presented by management.

Revenue Breakdown

SegmentRevenueGrowth
Wealth Solutions>10%
Health Solutions~20%
Investment Management$3.8 billion

Key Numbers

  • May 23, 2024 — Annual Meeting Date (2024 Annual Meeting of Shareholders)
  • >10% — Wealth Solutions Deposit Growth (Full-service recurring deposits grew more than 10% in 2023)
  • ~20% — Health Solutions Growth (Annualized in-force premiums and fees grew nearly 20% in 2023)
  • $3.8 billion — International Retail Net Flows (Investment Management delivered $3.8 billion in International Retail net flows in 2023)

Key Players & Entities

  • Voya Financial, Inc. (company) — Registrant
  • 2024 Annual Meeting of Shareholders (event) — Meeting date
  • May 23, 2024 (date) — Meeting date
  • 2023 (date) — Performance year
  • Benefitfocus (company) — Acquisition

FAQ

When did Voya Financial, Inc. file this DEF 14A?

Voya Financial, Inc. filed this Proxy Statement (DEF 14A) with the SEC on April 11, 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 Voya Financial, Inc. (VOYA-PB).

Where can I read the original DEF 14A filing from Voya Financial, 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 Voya Financial, Inc..

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

Voya Financial, Inc. filed this DEF 14A on April 11, 2024. Key takeaways: Voya Financial, Inc. will hold its 2024 Annual Meeting of Shareholders on Thursday, May 23, 2024.. The company reported over 10% growth in full-service recurring deposits for Wealth Solutions in 2023 compared to 2022.. Health Solutions saw annualized in-force premiums and fees grow nearly 20% in 2023, boosted by the Benefitfocus acquisition..

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

Based on this DEF 14A, Voya Financial, Inc. presents a relatively low-risk profile. The filing is a routine proxy statement (DEF 14A) and does not contain new financial performance data or strategic shifts that would indicate significant risk.

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

Shareholders should review the proxy materials to understand voting matters and the company's performance and outlook presented by management. The overall sentiment from this filing is bullish.

How does Voya Financial, Inc. compare to its industry peers?

Voya Financial operates in the life insurance and financial services industry, focusing on health, wealth, and investment solutions.

Are there regulatory concerns for Voya Financial, Inc.?

This filing is a proxy statement (DEF 14A) under the Securities Exchange Act of 1934, requiring specific disclosures for shareholder meetings.

Industry Context

Voya Financial operates in the life insurance and financial services industry, focusing on health, wealth, and investment solutions.

Regulatory Implications

This filing is a proxy statement (DEF 14A) under the Securities Exchange Act of 1934, requiring specific disclosures for shareholder meetings.

What Investors Should Do

  1. Review the proxy statement for details on proposals to be voted on at the annual meeting.
  2. Assess the company's reported performance in Wealth, Health, and Investment Management segments for 2023.
  3. Understand the company's strategic positioning and capital deployment plans as outlined by management.

Key Dates

  • 2024-05-23: 2024 Annual Meeting of Shareholders — Shareholders will vote on corporate matters and hear management's strategic outlook.

Year-Over-Year Comparison

This is a DEF 14A filing, which is a proxy statement and does not contain comparative financial data from a previous filing period.

Filing Stats: 4,351 words · 17 min read · ~15 pages · Grade level 15.9 · Accepted 2024-04-11 16:03:14

Key Financial Figures

  • $3.8 billion — ing active asset managers and delivered $3.8 billion of International Retail net flows in 20
  • $1.13 million — communities. Voya disbursed more than $1.13 million in proactive insurance claims through V

Filing Documents

Executive Compensation Tables and Narratives

Executive Compensation Tables and Narratives 55 Report of Our Compensation, Benefits and Talent Management Committee 54 CEO Pay Ratio 71 Non-Employee Director Compensation 72 Compensation Committee Interlocks and Insider Participation 73 Proposal 3: Approval of the Adoption of the Voya Financial, Inc. 2024 Omnibus Incentive Plan 74 Proposal 4: Advisory Vote to Approve the Frequency of Future Advisory Votes on Executive Compensation 82 Part III: Audit-Related Matters 83 Proposal 5: Ratification of Appointment of Independent Registered Public Accounting Firm 83 Membership of our Audit Committee 84 Report of our Audit Committee 84 Fees Paid to Independent Registered Public Accounting Firm 85 Part IV: Certain Relationships and Related-Party Transactions 86 Related-Party Transaction Approval Policy 86 Beneficial Ownership of Certain Holders 88 Part V: Other Information 90 Frequently Asked Questions About our Annual Meeting 90 Exhibit A: Non-GAAP Financial Measures A Exhibit B: Voya Financial, Inc. 2024 Omnibus Incentive Plan B TABLE OF CONTENTS Proxy Summary This summary highlights certain information contained elsewhere in our proxy statement. You should read the entire proxy statement carefully before voting. Shareholders will be asked to vote on the following matters at the 2024 Annual Meeting: Matter Board Recommendation See This Page for More Information Election of Directors FOR each Director Nominee 12 Advisory Vote on Approval of Executive Compensation FOR approval 34 Approval of the Adoption of the Voya Financial, Inc. 2024 Omnibus Incentive Plan FOR approval 74 Advisory Vote to Approve the Frequency of Future Advisory Votes on Executive Compensation EVERY YEAR 82 Ratification of Ernst & Young LLP as our Independent Registered Public Accounting Firm FOR approval 83 Our proxy statement contains information about the matters to be voted on at our 2024 Annual Meeting of Shareholder

: Corporate Governance

Part I: Corporate Governance Proposal 1: Election of Directors Our Board consists of 11 directors, who are elected annually by our shareholders for one-year terms, comprised of 10 independent directors, including the Non-Executive Chairman of our Board, and our President and CEO, Heather Lavallee. At our Annual Meeting, our shareholders will be asked to elect 11 nominees to our Board (collectively, the "Director Nominees"). Board Recommendation: Our Board unanimously recommends that our shareholders elect each of our Director Nominees described below under "Our Director Nominees". Director Skills and Qualifications We believe that our director nominees bring a well-rounded variety of skills, qualifications and experiences, and represent an effective mix of deep company knowledge and fresh perspectives. Our Board believes that our Director Nominees' varying tenures, breadth of experience and mix of attributes strengthen our Board's independent leadership and effective oversight of management given Voya's businesses, the operating environment in our industries, and the Company's long-term strategy. Our Director Nominees have significant skills and experience in the following areas: Voya 2024 Proxy Statement 12 TABLE OF CONTENTS Director Nomination and Re-Nomination The Nominating, Governance and Social Responsibility Committee is responsible for identifying individuals believed to be qualified to become Board members, consistent with criteria approved by our Board, and for selecting and recommending to the Board the nominees to stand for election as directors at the annual meeting of shareholders or, if applicable, at a special meeting of shareholders. The Committee does not set specific minimum qualifications that directors must meet in order to recommend them to the Board, but specific characteristics considered by the Committee when evaluating candidates for the Board include: Diversity of background, including gender, ethnicity, race, culture

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