SEI Investments CFO Departs; Interim Appointed

Ticker: SEIC · Form: 8-K · Filed: May 30, 2024 · CIK: 350894

Sentiment: neutral

Topics: executive-departure, interim-cfo, annual-meeting, governance

Related Tickers: SEIC

TL;DR

CFO out, interim in. Annual meeting today - vote on directors & pay.

AI Summary

SEI Investments Co. announced on May 29, 2024, the departure of its Chief Financial Officer, Michael C. Bean, effective immediately. The company has appointed William J. Cottingham as interim CFO. Additionally, SEI Investments Co. is holding its Annual Meeting of Stockholders on May 30, 2024, where several proposals will be voted upon, including the election of directors and an advisory vote on executive compensation.

Why It Matters

The sudden departure of a CFO can signal internal challenges or strategic shifts, while the annual meeting addresses key governance and executive pay decisions impacting shareholder value.

Risk Assessment

Risk Level: medium — A CFO departure can indicate underlying issues, and the annual meeting involves significant shareholder decisions.

Key Players & Entities

FAQ

Who has been appointed as the interim Chief Financial Officer?

William J. Cottingham has been appointed as the interim Chief Financial Officer.

When was Michael C. Bean's departure as CFO effective?

Michael C. Bean's departure was effective immediately as of May 29, 2024.

What is the date of SEI Investments Co.'s Annual Meeting of Stockholders?

The Annual Meeting of Stockholders is scheduled for May 30, 2024.

What are some of the key items to be voted on at the Annual Meeting?

Key items include the election of directors and an advisory vote on executive compensation.

What is the filing date for this Form 8-K?

This Form 8-K was filed on May 30, 2024.

Filing Stats: 1,860 words · 7 min read · ~6 pages · Grade level 12.9 · Accepted 2024-05-30 14:08:45

Key Financial Figures

Filing Documents

07. Submission of Matters to a Vote of Security Holders

Item 5.07. Submission of Matters to a Vote of Security Holders. At the Company's Annual Meeting, the following matters were submitted to the shareholders of the Company: (1) The following nominees were elected as directors of the Company for terms expiring in the year 2027 and received the votes set forth opposite their names below: Name of Nominee For Against Abstain Carl A. Guarino 81,986,346 21,187,686 288,284 Stephanie D. Miller 102,878,356 464,437 119,523 Carmen V. Romeo 89,148,188 14,205,236 108,892 There were a total of 5,501,782 broker non-votes for the election of directors. Because the Board of Directors is divided into three classes with one class elected each year to hold office for a three-year term, the term of office for the following directors continued after the Annual Meeting: Jonathan A. Brassington, William M. Doran, Ryan P. Hicke, Kathryn M. McCarthy and Alfred P. West, Jr. (2) A resolution to approve, on an advisory basis, the compensation of named executive officers, was approved by 61.8% of the votes cast based on the votes set forth below: For Against Abstain 63,842,021 39,451,389 168,906 There were a total of 5,501,782 broker non-votes on this matter. (3) A resolution to approve the adoption of the 2024 Omnibus Equity Compensation Plan received the votes set forth below: For Against Abstain 84,926,107 18,392,780 143,429 There were a total of 5,501,782 broker non-votes on this matter. (4) The appointment of KPMG LLP as the independent registered public accountants to examine the Company's consolidated financial statements for 2024 was ratified by 99.5% of the votes cast based on the votes set forth below: For Against Abstain 108,298,873 583,047 82,178

01. Other Events

Item 8.01. Other Events. On May 29, 2024, the Board of Directors of the Company declared a dividend of $0.46 per share. The cash dividend will be payable to shareholders of record on June 10, 2024, with a payment date of June 18, 2024. A copy of the press release is furnished as Exhibit 99.1 and incorporated in this Item 8.01 by reference.

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits. 10.15 2024 Omnibus Equity Compensation Plan, as approved by the Company's shareholders on May 29, 2024. 10.16 SEI Investments Company Executive Severance and Change of Control Plan dated May 29, 2024. 99.1 Press Release of SEI Investments Company dated May 29, 2024.

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. SEI Investments Company Date: May 30, 2024 By: /s/ Sean J. Denham Sean J. Denham Chief Financial Officer

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