XML 30 R2.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Pay vs Performance Disclosure - USD ($)
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Pay vs Performance Disclosure        
Pay vs Performance Disclosure, Table
2023 Pay Versus Performance Table
 
   
Summary Compensation
Table (SCT) Total(1)
    
Compensation Actually
Paid (CAP)(2)
    
Average
SCT Total
for other
NEOs(1)
    
Average
CAP for
other
NEOs(2)(4)
    
Value of Initial Fixed
$100 Investment
Based on:
              
Year
  
John
Weinberg(3)
    
Ralph
Schlosstein
    
John
Weinberg(3)
    
Ralph
Schlosstein
    
 
    
 
    
Company
TSR
    
Peer
Group
TSR(5)
    
Net
Income

($ in
millions)
    
Adjusted
Net
Revenue ($
in
millions)(6)
  
2023
   $ 12,965,491       N/A     $ 18,668,990       N/A     $ 4,087,784     $ 6,630,862     $ 253     $ 133     $ 255     $ 2,449  
2022
   $ 15,176,726     $ 7,676,726     $ 5,693,292     $ 5,502,692     $ 5,028,826     $ 3,900,059     $ 158     $ 119     $ 477     $ 2,786  
2021
   $ 16,282,195     $ 10,282,195     $ 38,025,295     $ 12,841,786     $ 5,443,744     $ 6,610,145     $ 192     $ 133     $ 740     $ 3,317  
2020
   $ 13,315,103     $ 7,315,103     $ 42,672,395     $ 10,685,288     $ 4,463,806     $ 6,267,435     $ 152     $ 98     $ 351     $ 2,327  
 
  (1)
The PEO in the 2023 reporting year is John S. Weinberg. The PEOs in the 2022, 2021, and 2020 reporting years are John S. Weinberg and Ralph L. Schlosstein (Mr. Schlosstein stepped down as
Co-Chairman
of the Board and
Co-CEO
effective February 25, 2022). The NEOs in the 2023 reporting year are Roger C. Altman, Edward S. Hyman, Jason Klurfeld, Tim LaLonde, Celeste Mellet, and Paul Pensa. The NEOs in the 2022 reporting year are Roger C. Altman, Edward S. Hyman, Jason Klurfeld, and Celeste Mellet. The NEOs in the 2021 reporting year are Roger C. Altman, Edward S. Hyman, Jason Klurfeld, Celeste Mellet, and Robert B. Walsh. The NEOs in the 2020 reporting year are Roger C. Altman, Edward S. Hyman, Jason Klurfeld, and Robert B. Walsh.
 
  (2)
SEC rules require certain adjustments be made to Summary Compensation Table values to determine Compensation Actually Paid, or CAP. The amounts reported as CAP to our PEOs and Average CAP to
Non-PEO
NEOs were calculated in accordance with Item 402(v) of Regulation
S-K,
as shown in the table below. NEOs do not participate in any defined benefit plan and as such, no adjustment for pension is included in the following table. The following table details adjustments made to calculate CAP.
         
Deduction
from SCT
Total
    
Additions (Deductions) to SCT Total
        
Year
  
SCT Total
    
Grant Date
Fair Value
of Equity
Awards
    
Fair Value
of Current
Year
Equity
Awards
Unvested at
FY End
    
Change in
Fair Value of
Prior Year
Equity
Awards
Unvested at
FY End
    
Change in
Fair Value of
Prior Year
Equity
Awards that
Vested in the
Year
    
Change in
Fair Value of
Prior Year
Equity
Awards
Forfeited in
the Year
    
Dividends on
Equity
Awards not
Otherwise
Reflected in
Fair Value or
Total
Compensation
    
CAP
  
PEO SCT Total to CAP Reconciliation (Mr. Weinberg)
 
2023
   $ 12,965,491     $ 3,340,491     $ 4,200,817     $ 3,603,246     $ 991,815     $ 0     $ 248,112     $ 18,668,990  
2022
   $ 15,176,726     $ 5,426,726     $ 4,679,314     $ (1,463,864 )    $ (7,708,408 )    $ 0     $ 436,250     $ 5,693,292  
2021
   $ 16,282,195     $ 4,282,195     $ 4,919,129     $ 18,076,120     $ 2,089,618     $ 0     $ 940,429     $ 38,025,295  
2020
   $ 13,315,103     $ 2,565,103     $ 3,449,713     $ 28,334,454     $ (977,793 )    $ 0     $ 1,116,022     $ 42,672,395  
PEO SCT Total to CAP Reconciliation (Mr. Schlosstein)
 
2023
     N/A       —        —        —        —        —        —        —   
2022
   $ 7,676,726     $ 5,426,726     $ 4,679,314     $ (1,463,864 )    $ (239,888 )    $ 0     $ 277,130     $ 5,502,692  
2021
   $ 10,282,195     $ 4,282,195     $ 4,919,129     $ 1,458,980     $ 220,209     $ 0     $ 243,469     $ 12,841,786  
2020
   $ 7,315,103     $ 2,565,103     $ 3,449,713     $ 2,159,351     $ 106,799     $ 0     $ 219,424     $ 10,685,288  
Average
Non-PEOs
SCT Total to CAP Reconciliation
 
2023
   $ 4,087,784     $ 1,816,352     $ 2,284,145     $ 2,196,985     $ 347,395     $ (569,052 )    $ 99,958     $ 6,630,862  
2022
   $ 5,028,826     $ 2,571,521     $ 2,217,351     $ (759,806 )    $ (154,846 )    $ 0     $ 140,056     $ 3,900,059  
2021
   $ 5,443,744     $ 2,264,559     $ 2,535,885     $ 689,931     $ 90,370     $ 0     $ 114,774     $ 6,610,145  
2020
   $ 4,463,806     $ 1,817,682     $ 2,444,533     $ 1,008,564     $ 47,866     $ 0     $ 120,346     $ 6,267,435  
 
  (3)
The amounts shown for Mr. Weinberg’s CAP include (i) as a component of the SCT Total, the portion of Mr. Weinberg’s initial long-term
sign-on
restricted cash award of $35 million that vested during the applicable year (as explained in more detail in “Compensation Discussion and Analysis”), as well as (ii) the change in the fair value of Mr. Weinberg’s initial long-term
sign-on
equity awards granted in 2016 that were unvested at fiscal year end or vested during the applicable fiscal year. These awards, which were granted in 2016, were not a part of Mr. Weinberg’s discretionary annual bonus in respect of any year of his service and the vast majority were intended to replace deferred compensation from Mr. Weinberg’s previous employer that was at risk of forfeiture as a result of joining Evercore.
 
  (4)
The fair value of performance-based equity awards reported for CAP purposes reflects calculated performance at the end of the performance year for internal metrics, in accordance with FASB ASC 718. Performance-based equity awards subject to internal metrics will ultimately vest, if at all, based on measured performance through the end of the performance period.
 
  (5)
Reflects the total shareholder return indexed to $100 per share for the S&P 500 Financials Index, which is the industry line peer group reported in our annual report to shareholders.
 
  (6)
Adjusted Net Revenues is a
non-GAAP
financial measure. See Annex A for further information and a reconciliation to U.S. GAAP amounts.
     
Company Selected Measure Name Adjusted Net Revenue      
Named Executive Officers, Footnote The PEO in the 2023 reporting year is John S. Weinberg. The PEOs in the 2022, 2021, and 2020 reporting years are John S. Weinberg and Ralph L. Schlosstein (Mr. Schlosstein stepped down as
Co-Chairman
of the Board and
Co-CEO
effective February 25, 2022). The NEOs in the 2023 reporting year are Roger C. Altman, Edward S. Hyman, Jason Klurfeld, Tim LaLonde, Celeste Mellet, and Paul Pensa. The NEOs in the 2022 reporting year are Roger C. Altman, Edward S. Hyman, Jason Klurfeld, and Celeste Mellet. The NEOs in the 2021 reporting year are Roger C. Altman, Edward S. Hyman, Jason Klurfeld, Celeste Mellet, and Robert B. Walsh. The NEOs in the 2020 reporting year are Roger C. Altman, Edward S. Hyman, Jason Klurfeld, and Robert B. Walsh. 		     
Peer Group Issuers, Footnote Reflects the total shareholder return indexed to $100 per share for the S&P 500 Financials Index, which is the industry line peer group reported in our annual report to shareholders.      
Adjustment To PEO Compensation, Footnote
  (2)
SEC rules require certain adjustments be made to Summary Compensation Table values to determine Compensation Actually Paid, or CAP. The amounts reported as CAP to our PEOs and Average CAP to
Non-PEO
NEOs were calculated in accordance with Item 402(v) of Regulation
S-K,
as shown in the table below. NEOs do not participate in any defined benefit plan and as such, no adjustment for pension is included in the following table. The following table details adjustments made to calculate CAP.
         
Deduction
from SCT
Total
    
Additions (Deductions) to SCT Total
        
Year
  
SCT Total
    
Grant Date
Fair Value
of Equity
Awards
    
Fair Value
of Current
Year
Equity
Awards
Unvested at
FY End
    
Change in
Fair Value of
Prior Year
Equity
Awards
Unvested at
FY End
    
Change in
Fair Value of
Prior Year
Equity
Awards that
Vested in the
Year
    
Change in
Fair Value of
Prior Year
Equity
Awards
Forfeited in
the Year
    
Dividends on
Equity
Awards not
Otherwise
Reflected in
Fair Value or
Total
Compensation
    
CAP
  
PEO SCT Total to CAP Reconciliation (Mr. Weinberg)
 
2023
   $ 12,965,491     $ 3,340,491     $ 4,200,817     $ 3,603,246     $ 991,815     $ 0     $ 248,112     $ 18,668,990  
2022
   $ 15,176,726     $ 5,426,726     $ 4,679,314     $ (1,463,864 )    $ (7,708,408 )    $ 0     $ 436,250     $ 5,693,292  
2021
   $ 16,282,195     $ 4,282,195     $ 4,919,129     $ 18,076,120     $ 2,089,618     $ 0     $ 940,429     $ 38,025,295  
2020
   $ 13,315,103     $ 2,565,103     $ 3,449,713     $ 28,334,454     $ (977,793 )    $ 0     $ 1,116,022     $ 42,672,395  
PEO SCT Total to CAP Reconciliation (Mr. Schlosstein)
 
2023
     N/A       —        —        —        —        —        —        —   
2022
   $ 7,676,726     $ 5,426,726     $ 4,679,314     $ (1,463,864 )    $ (239,888 )    $ 0     $ 277,130     $ 5,502,692  
2021
   $ 10,282,195     $ 4,282,195     $ 4,919,129     $ 1,458,980     $ 220,209     $ 0     $ 243,469     $ 12,841,786  
2020
   $ 7,315,103     $ 2,565,103     $ 3,449,713     $ 2,159,351     $ 106,799     $ 0     $ 219,424     $ 10,685,288  
Average
Non-PEOs
SCT Total to CAP Reconciliation
 
2023
   $ 4,087,784     $ 1,816,352     $ 2,284,145     $ 2,196,985     $ 347,395     $ (569,052 )    $ 99,958     $ 6,630,862  
2022
   $ 5,028,826     $ 2,571,521     $ 2,217,351     $ (759,806 )    $ (154,846 )    $ 0     $ 140,056     $ 3,900,059  
2021
   $ 5,443,744     $ 2,264,559     $ 2,535,885     $ 689,931     $ 90,370     $ 0     $ 114,774     $ 6,610,145  
2020
   $ 4,463,806     $ 1,817,682     $ 2,444,533     $ 1,008,564     $ 47,866     $ 0     $ 120,346     $ 6,267,435  
      
Non-PEO NEO Average Total Compensation Amount $ 4,087,784 $ 5,028,826 $ 5,443,744 $ 4,463,806
Non-PEO NEO Average Compensation Actually Paid Amount $ 6,630,862 3,900,059 6,610,145 6,267,435
Adjustment to Non-PEO NEO Compensation Footnote
  (2)
SEC rules require certain adjustments be made to Summary Compensation Table values to determine Compensation Actually Paid, or CAP. The amounts reported as CAP to our PEOs and Average CAP to
Non-PEO
NEOs were calculated in accordance with Item 402(v) of Regulation
S-K,
as shown in the table below. NEOs do not participate in any defined benefit plan and as such, no adjustment for pension is included in the following table. The following table details adjustments made to calculate CAP.
         
Deduction
from SCT
Total
    
Additions (Deductions) to SCT Total
        
Year
  
SCT Total
    
Grant Date
Fair Value
of Equity
Awards
    
Fair Value
of Current
Year
Equity
Awards
Unvested at
FY End
    
Change in
Fair Value of
Prior Year
Equity
Awards
Unvested at
FY End
    
Change in
Fair Value of
Prior Year
Equity
Awards that
Vested in the
Year
    
Change in
Fair Value of
Prior Year
Equity
Awards
Forfeited in
the Year
    
Dividends on
Equity
Awards not
Otherwise
Reflected in
Fair Value or
Total
Compensation
    
CAP
  
PEO SCT Total to CAP Reconciliation (Mr. Weinberg)
 
2023
   $ 12,965,491     $ 3,340,491     $ 4,200,817     $ 3,603,246     $ 991,815     $ 0     $ 248,112     $ 18,668,990  
2022
   $ 15,176,726     $ 5,426,726     $ 4,679,314     $ (1,463,864 )    $ (7,708,408 )    $ 0     $ 436,250     $ 5,693,292  
2021
   $ 16,282,195     $ 4,282,195     $ 4,919,129     $ 18,076,120     $ 2,089,618     $ 0     $ 940,429     $ 38,025,295  
2020
   $ 13,315,103     $ 2,565,103     $ 3,449,713     $ 28,334,454     $ (977,793 )    $ 0     $ 1,116,022     $ 42,672,395  
PEO SCT Total to CAP Reconciliation (Mr. Schlosstein)
 
2023
     N/A       —        —        —        —        —        —        —   
2022
   $ 7,676,726     $ 5,426,726     $ 4,679,314     $ (1,463,864 )    $ (239,888 )    $ 0     $ 277,130     $ 5,502,692  
2021
   $ 10,282,195     $ 4,282,195     $ 4,919,129     $ 1,458,980     $ 220,209     $ 0     $ 243,469     $ 12,841,786  
2020
   $ 7,315,103     $ 2,565,103     $ 3,449,713     $ 2,159,351     $ 106,799     $ 0     $ 219,424     $ 10,685,288  
Average
Non-PEOs
SCT Total to CAP Reconciliation
 
2023
   $ 4,087,784     $ 1,816,352     $ 2,284,145     $ 2,196,985     $ 347,395     $ (569,052 )    $ 99,958     $ 6,630,862  
2022
   $ 5,028,826     $ 2,571,521     $ 2,217,351     $ (759,806 )    $ (154,846 )    $ 0     $ 140,056     $ 3,900,059  
2021
   $ 5,443,744     $ 2,264,559     $ 2,535,885     $ 689,931     $ 90,370     $ 0     $ 114,774     $ 6,610,145  
2020
   $ 4,463,806     $ 1,817,682     $ 2,444,533     $ 1,008,564     $ 47,866     $ 0     $ 120,346     $ 6,267,435  
      
Compensation Actually Paid vs. Total Shareholder Return

     
Compensation Actually Paid vs. Net Income
LOGO
     
Compensation Actually Paid vs. Company Selected Measure

     
Total Shareholder Return Vs Peer Group
LOGO
     
Tabular List, Table
2023 Performance Measures
For 2023, with the exception of our newly appointed CFO, none of our NEOs were paid pursuant to formulaic or other
pre-established
performance targets or personal compensation arrangements. Rather, incentive awards paid to our NEOs were determined in the discretion of the Compensation Committee after taking into account the Company’s performance along with the NEO’s individual contributions, the NEO’s promotion of and adherence to our Core Values, and other factors. In making its determinations, the Compensation Committee considered these factors in a holistic manner (including qualitative factors), without ascribing any specific weight to any single factor or metric. However, as required by the SEC rules, the performance measured identified in the tabular list below are the financial performance measures used by the Compensation Committee to link our NEOs’ 2023 compensation actually paid to performance:
 
 
•
  
Adjusted Net Revenues
 
 
•
  
Adjusted EPS
 
 
•
  
Adjusted Net Income
 
 
•
  
Adjusted Operating Margin
     
Total Shareholder Return Amount $ 253 158 192 152
Peer Group Total Shareholder Return Amount 133 119 133 98
Net Income (Loss) $ 255,000,000 $ 477,000,000 $ 740,000,000 $ 351,000,000
Company Selected Measure Amount 2,449,000,000 2,786,000,000 3,317,000,000 2,327,000,000
Measure:: 1        
Pay vs Performance Disclosure        
Name Adjusted Net Revenues      
Non-GAAP Measure Description Adjusted Net Revenues is a
non-GAAP
financial measure. See Annex A for further information and a reconciliation to U.S. GAAP amounts. 		     
Measure:: 2        
Pay vs Performance Disclosure        
Name Adjusted EPS      
Measure:: 3        
Pay vs Performance Disclosure        
Name Adjusted Net Income      
Measure:: 4        
Pay vs Performance Disclosure        
Name Adjusted Operating Margin      
John Weinberg [Member]        
Pay vs Performance Disclosure        
PEO Total Compensation Amount $ 12,965,491 $ 15,176,726 $ 16,282,195 $ 13,315,103
PEO Actually Paid Compensation Amount $ 18,668,990 5,693,292 38,025,295 42,672,395
PEO Name John S. Weinberg      
John Weinberg [Member] | Restricted Cash Award [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount $ 35,000,000      
Ralph Schlosstein [Member]        
Pay vs Performance Disclosure        
PEO Total Compensation Amount   7,676,726 10,282,195 7,315,103
PEO Actually Paid Compensation Amount   $ 5,502,692 $ 12,841,786 $ 10,685,288
PEO Name   Ralph L. Schlosstein Ralph L. Schlosstein Ralph L. Schlosstein
PEO | John Weinberg [Member] | Grant Date Fair Value of Equity Awards [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 3,340,491 $ 5,426,726 $ 4,282,195 $ 2,565,103
PEO | John Weinberg [Member] | Fair Value of Current Year Equity Awards Unvested at FY End [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 4,200,817 4,679,314 4,919,129 3,449,713
PEO | John Weinberg [Member] | Change in Fair Value of Prior Year Equity Awards Unvested at FY End [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 3,603,246 (1,463,864) 18,076,120 28,334,454
PEO | John Weinberg [Member] | Change in Fair Value of Prior Year Equity Awards that Vested in the Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 991,815 (7,708,408) 2,089,618 (977,793)
PEO | John Weinberg [Member] | Change In Fair Value Of Prior Year Equity Awards Forfeited In The Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 0 0 0 0
PEO | John Weinberg [Member] | Dividends on Equity Awards not Otherwise Reflected in Fair Value or Total Compensation [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 248,112 436,250 940,429 1,116,022
PEO | Ralph Schlosstein [Member] | Grant Date Fair Value of Equity Awards [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount   5,426,726 4,282,195 2,565,103
PEO | Ralph Schlosstein [Member] | Fair Value of Current Year Equity Awards Unvested at FY End [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount   4,679,314 4,919,129 3,449,713
PEO | Ralph Schlosstein [Member] | Change in Fair Value of Prior Year Equity Awards Unvested at FY End [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount   (1,463,864) 1,458,980 2,159,351
PEO | Ralph Schlosstein [Member] | Change in Fair Value of Prior Year Equity Awards that Vested in the Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount   (239,888) 220,209 106,799
PEO | Ralph Schlosstein [Member] | Change In Fair Value Of Prior Year Equity Awards Forfeited In The Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount   0 0 0
PEO | Ralph Schlosstein [Member] | Dividends on Equity Awards not Otherwise Reflected in Fair Value or Total Compensation [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount   277,130 243,469 219,424
Non-PEO NEO | Grant Date Fair Value of Equity Awards [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 1,816,352 2,571,521 2,264,559 1,817,682
Non-PEO NEO | Fair Value of Current Year Equity Awards Unvested at FY End [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 2,284,145 2,217,351 2,535,885 2,444,533
Non-PEO NEO | Change in Fair Value of Prior Year Equity Awards Unvested at FY End [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 2,196,985 (759,806) 689,931 1,008,564
Non-PEO NEO | Change in Fair Value of Prior Year Equity Awards that Vested in the Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 347,395 (154,846) 90,370 47,866
Non-PEO NEO | Change In Fair Value Of Prior Year Equity Awards Forfeited In The Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (569,052) 0 0 0
Non-PEO NEO | Dividends on Equity Awards not Otherwise Reflected in Fair Value or Total Compensation [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount $ 99,958 $ 140,056 $ 114,774 $ 120,346