SEI Investments Company - Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by SEI Investments Company on January 15, 2026, reporting an event that occurred on January 13, 2026. The filing discloses the execution of a new employment agreement with the Company's Chief Executive Officer, Ryan Hicke.
Key Financial Metrics
The filing does not contain financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity metrics. The document focuses exclusively on executive compensation terms.
Material Changes
The primary material change is the replacement of the CEO's prior employment agreement with a new contract effective January 13, 2026. Key terms include:
- Term: Runs until June 1, 2031.
- Base Salary: Initial annual salary of $900,000 (non-decreasing).
- Cash Bonus: Initial annual target of $2,700,000, subject to performance and Committee discretion.
- Equity: Eligibility for annual equity grants under the 2024 Omnibus Equity Compensation Plan.
Outlook, Risks, and Severance Provisions
The agreement outlines significant severance benefits contingent on termination without Cause, death, disability, or Good Reason following a Change in Control:
- Termination without Cause/Death/Disability: Accrued obligations, 1.5x base salary, and 1.5x annual bonus (paid over 18 months), plus full accelerated vesting of unvested equity awards.
- Good Reason after Change in Control: Accrued obligations, 1.5x (base salary + target bonus), pro-rated target bonus, and full accelerated vesting.
- Equity Exercise Period: Unexercised options remain exercisable for 18 months post-termination (or 365 days in Change in Control scenarios).
- Covenants: Includes 18-month non-compete and non-solicitation restrictions post-employment.
Investor Verification Checklist
- Review Exhibit 99.1 for the complete legal text of the Employment Agreement.
- Verify the specific definitions of "Cause," "Good Reason," and "Change in Control" within the agreement.
- Assess the impact of the $2.7 million target bonus and potential equity grants on future compensation expense.
- Confirm the total potential payout value under various termination scenarios.