Corporate GovernanceJul 21, 2026, 04:12 PM
StepStone Group Transitions to Non-Controlled Company Status
AI Summary
StepStone Group Inc. announced its transition from a "controlled company" status, effective September 18, 2025, and is taking steps to comply with Nasdaq's corporate governance rules. The company will hold its 2026 Annual Meeting of Stockholders on September 8, 2026, where seven director nominees will be elected, ensuring a majority independent board. To facilitate this, two current directors are not being re-nominated, and the board size will be reduced to seven. Additionally, director compensation for committee chairs and members will be adjusted, with significant increases for Audit Committee chair and new retainers for other committee roles.
Key Highlights
- StepStone Group transitioned from a "controlled company" status on September 18, 2025.
- Board of directors will be majority independent with 4 of 7 nominees being independent.
- Two current directors, Jose A. Fernandez and Michael I. McCabe, are not re-nominated.
- Board size will be reduced to seven directors after the Annual Meeting.
- Audit Committee chair annual retainer increased to $75,000, effective after the Annual Meeting.
- Compensation Committee chair annual retainer set at $50,000, effective after the Annual Meeting.
- Nominating and Corporate Governance Committee chair annual retainer set at $25,000.
- New annual committee member retainers introduced for Audit ($30,000), Compensation ($20,000), and NCG ($10,000).
Price Impact
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