Cover
Cover | 12 Months Ended |
Dec. 31, 2022 | |
Document Information [Line Items] | |
Document Type | DEF 14A |
Amendment Flag | false |
Entity Information [Line Items] | |
Entity Registrant Name | RYAN SPECIALTY HOLDINGS, INC. |
Entity Central Index Key | 0001849253 |
Pay vs Performance Disclosure
Pay vs Performance Disclosure | 12 Months Ended | |
Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | |
Pay vs Performance Disclosure [Table] | ||
Pay vs Performance [Table Text Block] | Pay Versus Performance The following table sets forth information concerning the compensation of our Principal Executive Officer (“PEO”) and other NEOs for each of the fiscal years ending December 31, 2021 and 2022 and our financial performance for each such fiscal year: Value of Initial Fixed $100 Year (1) Summary (2) Compensation (3) Average Non-PEO (4) Average Non-PEO (5) Total (6) Peer Group (7) Net Organic (8) 2022 $ 4,478,995 $ 4,478,995 $ 2,530,394 $ 3,369,573 $ 151 $ 97 $ 163,257 16.4 % 2021 2,456,731 2,456,731 8,972,955 22,246,054 147 109 56,632 22.4 % (1) Only two years of compensation and performance history are provided since the Company’s IPO was on July 21, 2021. (2) Patrick G. Ryan was our PEO in both 2021 and 2022 . (3) Since our PEO has never received incentive equity grants and the Company does not have a pension plan, Compensation Actually Paid (“CAP”) to our PEO is the same amount as reported as total compensation in our Summary Compensation Table (“SCT”) for each year. (4) Our NEOs (other than our PEO) for 2022 included Timothy W. Turner, Jeremiah R. Bickham, Brendan M. Mulshine and Mark S. Katz. Our NEOs (other than our PEO) for 2021 included Timothy W. Turner, Jeremiah R. Bickham, Mark S. Katz, Michael T. VanAcker, and Diane M. Aigotti. Diane M. Aigotti was our Chief Financial Officer until she resigned from the Company on March 1, 2021. (5) The following table provides a reconciliation calculation of the average Non-PEO Non-PEO Year Average SCT Grant Year End Value of Equity Granted During Year Unvested at Fair Value Vesting Date of Equity Change in Granted in and Unvested at Change in Fair Value of Equity Granted in Prior Year and Vested Average 2022 $ 2,530,394 $ (308,222 ) $ 367,125 $ — $ 928,526 $ (148,250 ) $ 3,369,573 2021 8,972,955 (4,324,316 ) 17,418,303 179,112 — — 22,246,054 (6) Total Stockholder Return (“TSR”) is calculated based on a fixed investment of $100 at the applicable measurement point on the same cumulative basis as is used in Item 201(e) of Regulation S-K. (7) Our Peer Group TSR for the relevant fiscal year represents the cumulative TSR of the S&P 500 Financials Sector Index, consistent with the industry index used in our “Performance Graph” pursuant to Section 201(e) of regulation S-K as presented in Item 5 of our annual report on Form 10-K. The Peer Group TSR is calculated from July 22, 2021, the first trading date of our Class A Common Stock after our IPO, through the end of the applicable year. (8) Ryan Specialty’s most important financial performance measure used to link CAP to our NEOs to C Non-GAAP | |
Company Selected Measure Name | Organic Revenue Growth | |
Named Executive Officers, Footnote [Text Block] | Our NEOs (other than our PEO) for 2022 included Timothy W. Turner, Jeremiah R. Bickham, Brendan M. Mulshine and Mark S. Katz. Our NEOs (other than our PEO) for 2021 included Timothy W. Turner, Jeremiah R. Bickham, Mark S. Katz, Michael T. VanAcker, and Diane M. Aigotti. Diane M. Aigotti was our Chief Financial Officer until she resigned from the Company on March 1, 2021. | |
Peer Group Issuers, Footnote [Text Block] | Our Peer Group TSR for the relevant fiscal year represents the cumulative TSR of the S&P 500 Financials Sector Index, consistent with the industry index used in our “Performance Graph” pursuant to Section 201(e) of regulation S-K as presented in Item 5 of our annual report on Form 10-K. The Peer Group TSR is calculated from July 22, 2021, the first trading date of our Class A Common Stock after our IPO, through the end of the applicable year. | |
PEO Total Compensation Amount | $ 4,478,995 | $ 2,456,731 |
PEO Actually Paid Compensation Amount | 4,478,995 | 2,456,731 |
Non-PEO NEO Average Total Compensation Amount | 2,530,394 | 8,972,955 |
Non-PEO NEO Average Compensation Actually Paid Amount | $ 3,369,573 | 22,246,054 |
Adjustment to Non-PEO NEO Compensation Footnote [Text Block] | (5) The following table provides a reconciliation calculation of the average Non-PEO Non-PEO Year Average SCT Grant Year End Value of Equity Granted During Year Unvested at Fair Value Vesting Date of Equity Change in Granted in and Unvested at Change in Fair Value of Equity Granted in Prior Year and Vested Average 2022 $ 2,530,394 $ (308,222 ) $ 367,125 $ — $ 928,526 $ (148,250 ) $ 3,369,573 2021 8,972,955 (4,324,316 ) 17,418,303 179,112 — — 22,246,054 | |
Compensation Actually Paid vs. Total Shareholder Return [Text Block] | Compensation Actually Paid and Company Total Stockholder Return The below chart depicts CAP to our Principal Executive Officer (“PEO”) and the average of our Non-PEO Non-PEO | |
Compensation Actually Paid vs. Net Income [Text Block] | Compensation Actually Paid and Net Income The below chart depicts CAP to our PEO and the average of our Non-PEO | |
Compensation Actually Paid vs. Company Selected Measure [Text Block] | Compensation Actually Paid and Organic Revenue Growth The below chart depicts CAP to our PEO and the average of our Non-PEO Executive Compensation: Compensation Discussion and Analysis — Our Executive Compensation Program in Detail — Our Pay Philosophy — Short-Term Incentive Compensation | |
Total Shareholder Return Vs Peer Group [Text Block] | Company TSR and Peer Group TSR As demonstrated by the following graph, the Company’s TSR increased 51% over the presented period in the table, while the Company’s peer group TSR decreased 3% over the same period. The Company’s TSR generally outperformed the peer group during the period presented in the table, representing the Company’s superior financial performance as compared to the S&P 500 Financials Sector Index. | |
Tabular List [Table Text Block] | Pay Versus Performance Tabular List For the fiscal year ending December 31, 2022, the most important financial performance measures used to link Compensation Actually Paid to our NEOs to Company performance were Organic Revenue Growth, Adjusted EBITDAC Margin and TSR. Our NEOs’ total compensation is heavily weighted towards short and long-term performance with performance goals aligned with our stockholders’ interests. Each NEO’s short-term incentive compensation is primarily determined by Organic Revenue Growth and Adjusted EBITDAC Margin. See “ Executive Compensation: Compensation Discussion and Analysis — Our Executive Compensation Program in Detail — Our Pay Philosophy — Short-Term Incentive Compensation Executive Compensation: Compensation Discussion and Analysis — Our Executive Compensation Program in Detail — Our Pay Philosophy — Long-Term Incentive Compensation Most Important Financial Performance Measures Organic Revenue Growth Adjusted EBITDAC Margin Total Stockholder Return | |
Total Shareholder Return Amount | $ 151 | 147 |
Peer Group Total Shareholder Return Amount | 97 | 109 |
Net Income (Loss) | $ 163,257,000 | $ 56,632,000 |
Company Selected Measure Amount | 0.164 | 0.224 |
PEO Name | Patrick G. Ryan | |
Measure [Axis]: 1 | ||
Pay vs Performance Disclosure [Table] | ||
Measure Name | Organic Revenue Growth | |
Non-GAAP Measure Description [Text Block] | Ryan Specialty’s most important financial performance measure used to link CAP to our NEOs to C Non-GAAP | |
Measure [Axis]: 2 | ||
Pay vs Performance Disclosure [Table] | ||
Measure Name | Adjusted EBITDAC Margin | |
Measure [Axis]: 3 | ||
Pay vs Performance Disclosure [Table] | ||
Measure Name | Total Stockholder Return | |
Non-PEO NEO [Member] | SCT Grant Date Fair Value Deduction [Member] | ||
Pay vs Performance Disclosure [Table] | ||
Adjustment to Compensation Amount | $ (308,222) | $ (4,324,316) |
Non-PEO NEO [Member] | Year End Value of Equity Granted During Year and Unvested at End of Year [Member] | ||
Pay vs Performance Disclosure [Table] | ||
Adjustment to Compensation Amount | 367,125 | 17,418,303 |
Non-PEO NEO [Member] | Fair Value as of Vesting Date of Equity Granted During Year and Vested During Year [Member] | ||
Pay vs Performance Disclosure [Table] | ||
Adjustment to Compensation Amount | $ 179,112 | |
Non-PEO NEO [Member] | Change in Fair Value of Equity Granted in Prior Year and Unvested at End of Year [Member] | ||
Pay vs Performance Disclosure [Table] | ||
Adjustment to Compensation Amount | 928,526 | |
Non-PEO NEO [Member] | Change in Fair Value of Equity Granted in Prior Year and Vested During Year [Member] | ||
Pay vs Performance Disclosure [Table] | ||
Adjustment to Compensation Amount | $ (148,250) |