- IVZ Dashboard
- Financials
- Filings
- Holdings
- Transcripts
- ETFs
- Insider
- Institutional
- Shorts
-
DEF 14A Filing Data
Invesco (IVZ) DEF 14A31 Mar 23Definitive proxyFinancial data
Company Profile
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 | Invesco Ltd. |
Entity Central Index Key | 0000914208 |
Pay vs Performance Disclosure | 12 Months Ended | ||
Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) | |
Pay vs Performance Disclosure [Table] | |||
Pay vs Performance [Table Text Block] | Pay versus performance As required by Section 953(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act and Regulation S-K pay-for-performance Executive Compensation – Compensation Discussion and Analysis Value of initial fixed $100 investment based on: Summary Average summary Average Peer Company selected compensation Compensation compensation compensation Total group total measure-adjusted Year table total for actually paid to table total for actually paid to shareholder shareholder Net Income operating margin 8 (a) PEO 1 PEO 2 non-PEO NEOs 3 non-PEO NEOs 4 return 5 return 6 ($M) 7 (i) 2022 15,173,146 6,359,694 5,532,531 2,549,789 $114 $142 683.9 34.8% 2021 12,897,752 21,171,173 5,228,946 8,067,761 $140 $155 1,393.00 41.5% 2020 11,747,102 11,869,332 4,380,258 4,901,847 $103 $117 524.8 37.0% 1. (b) represents the amounts of total compensation reported for Mr. Flanagan, President and Chief Executive Officer, for each corresponding year in the “Total” column of the Summary Compensation Table. See Summary Compensation Table for ad ditional 2. (c) represents the amount of “compensation actually paid” to Mr. Flanagan, as computed in accordance with Item 402(v) of Regulation S-K. S-K, Year Reported summary table total for PEO ($) Reduced by the equity awards ($) (aa) Increased by Compensation PEO ($) 2022 15,173,146 11,199,979 2,386,527 6,359,694 2021 12,897,752 7,216,998 15,490,419 21,171,173 2020 11,747,102 7,755,984 7,878,214 11,869,332 (aa) The grant date fair value of equity awards as reported in the “Share Awards” column in the Summary Compensation Table for the applicable year. (bb) The equity award adjustments for each applicable year include the addition (or subtraction, as applicable) of: Year Year end fair value of equity Year over Fair value as of vesting date of equity awards Year over of equity awards granted in prior years the year ($) (iv) Fair value of the prior year of equity awards to meet vesting ($) (v) Value of dividends or other earnings paid on stock or option awards not otherwise reflected in fair value or total compensation ($) (vi) Total equity ($) 2022 7,736,261 -5,487,712 0 -213,461 0 351,439 2,386,527 2021 8,888,375 4,288,434 0 2,003,253 0 310,356 15,490,419 2020 8,490,080 -365,211 0 -611,701 0 365,046 7,878,214 (i) the year-end (ii) the amount of change as of the end of the applicable year (from the end of the prior fiscal year) in fair value of awards granted in prior years that are outstanding and unvested; (iii) for awards that are granted and vest in the same applicable year, the fair value as of the vesting date; (iv) for awards granted in prior years that vest in the applicable year, the amount equal to the change as of the vesting date (from the end of the prior fiscal year) in fair value; (v) for awards granted in prior years that are determined to fail to meet the applicable vesting conditions during the applicable year, a deduction for the amount equal to the fair value at the end of the prior fiscal year; and (vi) the amount of any dividends or other earnings paid on stock or option awards in the applicable year prior to the vesting date that are not otherwise reflected in the fair value of such awards or included in any other component of total compensati on fo 3. (d) represents the average of the amounts reported for th e Co Name and title 2022 2021 2020 L. Allison Dukes ∎ ∎ ∎ Andrew T.S. Lo ∎ ∎ ∎ Gregory G. McGreevey ∎ ∎ ∎ Andrew R. Schlossberg ∎ ∎ ∎ Loren M. Starr ∎ * Mr. Starr transitioned from his role as Senior Managing Director and Chief Financial Officer to an executive advisory role of Vice Chair effective August 1, 2020. He served as Vice Chair until his retirement from the company on March 1, 2021. 4. (e) represents the average amount of “compensation actually paid” to the NEOs as a group (excluding M r. Fl S-K. S-K, Year Average reported non-PEO NEOs ($) Reduced by the awards ($) Increased by Average non-PEO 2022 5,532,531 3,462,486 479,745 2,549,789 2021 5,228,946 2,587,207 5,426,022 8,067,761 2020 4,380,258 2,541,970 3,063,559 4,901,847 (^) The equity award adjustments for each applicable year include the addition (or subtraction, as applicable) of: Year Average of equity Year over Average fair Year over Average fair that failed vesting conditions in the year Average value Total average 2022 2,389,079 -1,943,326 0 -87,111 0 121,103 479,745 2021 3,186,376 1,458,367 0 655,944 0 125,335 5,426,022 2020 3,234,617 -101,229 0 -170,453 0 100,624 3,063,559 5. (f) is calculated by dividing the sum of the cumulative amount of dividends for the measurement period, assuming dividend reinvestment, and the difference between the Company’s share price at the end and the beginning of the measurement period by the Company’s share price at the beginning of the measurement period. 6. (g) represents the weighted compensation peer group TSR, weighted according to the respective companies’ stock market capitalization at the beginning of each period for which a return is indicated. We selected the Asset Manager index as our peer group for purposes of this disclosure, which is the same index included in the performance graph is our Form 10-K for the year ending December 31, 2022. The Asset Manager peer group includes AllianceBernstein, Bank of NY Mellon, Blackrock, Franklin Resources, Janus Henderson, Lazard, Northern Trust, State Street and T. Rowe Price. 7. (h) represents the amount of net income reflected in the Company’s audited financial statements for the applicable year. 8. (i) represents adjusted operating margin which is a non-gaap financial measure and is equal to adjusted operating income divided by net revenues. Refer to Appendix A – Schedule of non-GAAP non-financial, | ||
Company Selected Measure Name | adjusted operating margin | ||
Named Executive Officers, Footnote [Text Block] | represents the average of the amounts reported for th e Co Name and title 2022 2021 2020 L. Allison Dukes ∎ ∎ ∎ Andrew T.S. Lo ∎ ∎ ∎ Gregory G. McGreevey ∎ ∎ ∎ Andrew R. Schlossberg ∎ ∎ ∎ Loren M. Starr ∎ * Mr. Starr transitioned from his role as Senior Managing Director and Chief Financial Officer to an executive advisory role of Vice Chair effective August 1, 2020. He served as Vice Chair until his retirement from the company on March 1, 2021. | ||
Peer Group Issuers, Footnote [Text Block] | represents the weighted compensation peer group TSR, weighted according to the respective companies’ stock market capitalization at the beginning of each period for which a return is indicated. We selected the Asset Manager index as our peer group for purposes of this disclosure, which is the same index included in the performance graph is our Form 10-K for the year ending December 31, 2022. The Asset Manager peer group includes AllianceBernstein, Bank of NY Mellon, Blackrock, Franklin Resources, Janus Henderson, Lazard, Northern Trust, State Street and T. Rowe Price. | ||
PEO Total Compensation Amount | $ 15,173,146 | $ 12,897,752 | $ 11,747,102 |
PEO Actually Paid Compensation Amount | $ 6,359,694 | 21,171,173 | 11,869,332 |
Adjustment To PEO Compensation, Footnote [Text Block] | represents the amount of “compensation actually paid” to Mr. Flanagan, as computed in accordance with Item 402(v) of Regulation S-K. S-K, Year Reported summary table total for PEO ($) Reduced by the equity awards ($) (aa) Increased by Compensation PEO ($) 2022 15,173,146 11,199,979 2,386,527 6,359,694 2021 12,897,752 7,216,998 15,490,419 21,171,173 2020 11,747,102 7,755,984 7,878,214 11,869,332 (aa) The grant date fair value of equity awards as reported in the “Share Awards” column in the Summary Compensation Table for the applicable year. (bb) The equity award adjustments for each applicable year include the addition (or subtraction, as applicable) of: Year Year end fair value of equity Year over Fair value as of vesting date of equity awards Year over of equity awards granted in prior years the year ($) (iv) Fair value of the prior year of equity awards to meet vesting ($) (v) Value of dividends or other earnings paid on stock or option awards not otherwise reflected in fair value or total compensation ($) (vi) Total equity ($) 2022 7,736,261 -5,487,712 0 -213,461 0 351,439 2,386,527 2021 8,888,375 4,288,434 0 2,003,253 0 310,356 15,490,419 2020 8,490,080 -365,211 0 -611,701 0 365,046 7,878,214 (i) the year-end (ii) the amount of change as of the end of the applicable year (from the end of the prior fiscal year) in fair value of awards granted in prior years that are outstanding and unvested; (iii) for awards that are granted and vest in the same applicable year, the fair value as of the vesting date; (iv) for awards granted in prior years that vest in the applicable year, the amount equal to the change as of the vesting date (from the end of the prior fiscal year) in fair value; (v) for awards granted in prior years that are determined to fail to meet the applicable vesting conditions during the applicable year, a deduction for the amount equal to the fair value at the end of the prior fiscal year; and (vi) the amount of any dividends or other earnings paid on stock or option awards in the applicable year prior to the vesting date that are not otherwise reflected in the fair value of such awards or included in any other component of total compensati on fo | ||
Non-PEO NEO Average Total Compensation Amount | $ 5,532,531 | 5,228,946 | 4,380,258 |
Non-PEO NEO Average Compensation Actually Paid Amount | $ 2,549,789 | 8,067,761 | 4,901,847 |
Adjustment to Non-PEO NEO Compensation Footnote [Text Block] | represents the average amount of “compensation actually paid” to the NEOs as a group (excluding M r. Fl S-K. S-K, Year Average reported non-PEO NEOs ($) Reduced by the awards ($) Increased by Average non-PEO 2022 5,532,531 3,462,486 479,745 2,549,789 2021 5,228,946 2,587,207 5,426,022 8,067,761 2020 4,380,258 2,541,970 3,063,559 4,901,847 (^) The equity award adjustments for each applicable year include the addition (or subtraction, as applicable) of: Year Average of equity Year over Average fair Year over Average fair that failed vesting conditions in the year Average value Total average 2022 2,389,079 -1,943,326 0 -87,111 0 121,103 479,745 2021 3,186,376 1,458,367 0 655,944 0 125,335 5,426,022 2020 3,234,617 -101,229 0 -170,453 0 100,624 3,063,559 | ||
Compensation Actually Paid vs. Total Shareholder Return [Text Block] | |||
Compensation Actually Paid vs. Net Income [Text Block] | |||
Compensation Actually Paid vs. Company Selected Measure [Text Block] | |||
Tabular List [Table Text Block] | Financial performance measures As described in greater detail in Executive Compensation – Compensation Discussion and Analysis pay-for-performance • Net long-term flows • Net revenue • Adjusted operating income • Adjusted operating margin • Adjusted diluted earnings per share | ||
Total Shareholder Return Amount | $ 114 | 140 | 103 |
Peer Group Total Shareholder Return Amount | 142 | 155 | 117 |
Net Income (Loss) | $ 683,900,000 | $ 1,393,000,000 | $ 524,800,000 |
Company Selected Measure Amount | 0.348 | 0.415 | 0.37 |
PEO Name | Mr. Flanagan | ||
Measure [Axis]: 1 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Net long-term flows | ||
Measure [Axis]: 2 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Net revenue | ||
Measure [Axis]: 3 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Adjusted operating income | ||
Measure [Axis]: 4 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Adjusted operating margin | ||
Non-GAAP Measure Description [Text Block] | represents adjusted operating margin which is a non-gaap financial measure and is equal to adjusted operating income divided by net revenues. Refer to Appendix A – Schedule of non-GAAP non-financial, | ||
Measure [Axis]: 5 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Adjusted diluted earnings per share | ||
PEO [Member] | Reduced by the Reported Value of Equity Awards [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | $ (11,199,979) | $ (7,216,998) | $ (7,755,984) |
PEO [Member] | Increased by Equity Award Adjustments [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 2,386,527 | 15,490,419 | 7,878,214 |
Fair Value Of Equity Awards | 7,736,261 | 8,888,375 | 8,490,080 |
Fair Value Of Outstanding And Unvested Equity Awards | (5,487,712) | 4,288,434 | (365,211) |
Fair Value As Of Vesting Date Of Equity Awards Granted And Vested | 0 | 0 | 0 |
Fair Value Of Equity Awards Granted In Prior Years That Vested | (213,461) | 2,003,253 | (611,701) |
Equity Awards That Failed To Meet Vesting Conditions | 0 | 0 | 0 |
Value Of Dividends Or Other Earnings Paid | 351,439 | 310,356 | 365,046 |
Non-PEO NEO [Member] | Reduced by the Reported Value of Equity Awards [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (3,462,486) | (2,587,207) | (2,541,970) |
Non-PEO NEO [Member] | Increased by Equity Award Adjustments [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 479,745 | 5,426,022 | 3,063,559 |
Fair Value Of Equity Awards | 2,389,079 | 3,186,376 | 3,234,617 |
Fair Value Of Outstanding And Unvested Equity Awards | (1,943,326) | 1,458,367 | (101,229) |
Fair Value As Of Vesting Date Of Equity Awards Granted And Vested | 0 | 0 | 0 |
Fair Value Of Equity Awards Granted In Prior Years That Vested | (87,111) | 655,944 | (170,453) |
Equity Awards That Failed To Meet Vesting Conditions | 0 | 0 | 0 |
Value Of Dividends Or Other Earnings Paid | $ 121,103 | $ 125,335 | $ 100,624 |