DEF 14A of Artisan Partners Asset Management Inc.
Filed Apr 17, 2026 · FY20250001517302-26-000079
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(Name of Person(s) Filing Proxy Statement, if Other Than The Registrant) Payment of Filing Fee (Check the appropriate box): ☑ No fee required. ☐ Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11. (1) Title of each class of securities to which transaction applies: (2) Aggregate number of securities to which transaction applies: (3) Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (set forth the amount on which the filing fee is calculated and state how it was determined): (4) Proposed maximum aggregate value of transaction: (5) Total fee paid: ☐ Fee paid previously with preliminary materials. ☐ Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing. (1) Amount Previously Paid: (2) Form, Schedule or Registration Statement No.: (3) Filing Party: (4) Date Filed: April 17, 2026 Dear Stockholder: On behalf of the Board of Directors of Artisan Partners Asset Management Inc., we cordially invite you to participate in the 2026 Annual Meeting of Stockholders, which will be held virtually on Wednesday, June 3, 2026 at 11:00 a.m. Central Time. The matters to be considered by stockholders at the Annual Meeting, as well as instructions for accessing the virtual meeting platform online, are described in detail in the accompanying materials. Representatives from our Board of Directors and certain of our executive officers, as well as representatives from our independent registered public accounting firm, will be available at the Annual Meeting to respond to appropriate questions from stockholders. Information about how to access and review our proxy statement and 2025 Annual Report on Form 10-K is included in the Notice of Internet Availability of Proxy Materials that you will receive in the mail. The notice also explains how you may submit your vote. Whether or not you plan to attend the Annual Meeting, please submit your vote at your earliest convenience. Thank you for your continued support as a stockholder of Artisan Partners.
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| Sincerely, | | | | Eric R. Colson Chair of the Board |
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Notice of 2026 Annual Meeting of Stockholders
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| Date and Time | Record Date | Virtual Meeting | | Wednesday, June 3, 2026 11:00 a.m. Central Time | Stockholders of record as of the close of business on April 9, 2026 are entitled to attend, and vote at, the Annual Meeting. | The Annual Meeting will be held virtually at edge.media-server.com/mmc/p/mddmoibn. |
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| PROPOSALS | | BOARD VOTING RECOMMENDATION | | 1 | The election of nine directors to serve until the 2027 annual meeting of stockholders | FOR each nominee | | 2 | An advisory vote to approve the compensation of our named executive officers | FOR | | 3 | The ratification of the appointment of PricewaterhouseCoopers LLP as our independent registered public accounting firm for the fiscal year ending December 31, 2026 | FOR |
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Stockholders will also transact such other business as may properly come before the Annual Meeting or any adjournment or postponement thereof. We encourage you to read this proxy statement and submit your proxy or voting instructions as soon as possible. You may vote your shares by Internet or, if you received printed proxy materials, by mailing the completed proxy card. Please refer to the section "How do I vote?” for detailed voting instructions. By Order of the Board of Directors,
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| | | Laura E. Simpson Corporate Secretary Milwaukee, Wisconsin April 17, 2026 |
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Important Notice Regarding the Availability of Proxy Materials for the Stockholder Meeting to be held virtually on Wednesday, June 3, 2026, at 11:00 a.m. Central Time. Our proxy statement and 2025 Annual Report on Form 10-K are available at www.astproxyportal.com/ast/18158. Table of Contents
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| GENERAL INFORMATION | 1 | | Matters to be voted on at the Annual Meeting | 1 | | QUESTIONS AND ANSWERS ABOUT THE PROXY MATERIALS AND ANNUAL MEETING | 2 | | PROPOSAL 1: ELECTION OF DIRECTORS | 5 | | Recommendation of the Board | 6 | | Director Nominees | 6 | | BOARD COMPOSITION AND LEADERSHIP | 10 | | Director Independence | 10 | | Board Leadership Structure | 10 | | Committees of the Board | 10 | | Board and Committee Meetings | 12 | | Compensation Committee Interlocks and Insider Participation | 12 | | Director Compensation | 12 | | CORPORATE GOVERNANCE AND SUSTAINABILITY | 14 | | Corporate Governance Guidelines | 14 | | Board Effectiveness | 14 | | Code of Business Conduct | 14 | | Insider Trading Policy | 14 | | Board Oversight of Risk Management | 14 | | Nomination of Directors | 15 | | Stockholder Proposals and Director Nominations for the 2027 Annual Meeting | 16 | | Communications with the Board | 17 | | Sustainability | 17 | | EXECUTIVE OFFICERS | 17 | | COMPENSATION DISCUSSION AND ANALYSIS | 20 | | EXECUTIVE COMPENSATION TABLES | 43 | | PROPOSAL 2: ADVISORY VOTE TO APPROVE NAMED EXECUTIVE OFFICER COMPENSATION | 54 | | Recommendation of the Board | 54 | | SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT | 55 | | RELATIONSHIPS AND RELATED PARTY TRANSACTIONS | 58 | | Transactions in Connection with our IPO | 58 | | Indemnification Agreements | 62 | | Investments in our Funds | 62 | | Review and Approval of Transactions with Related Persons | 63 | | AUDIT COMMITTEE REPORT | 63 | | PROPOSAL 3: RATIFICATION OF THE APPOINTMENT OF PRICEWATERHOUSECOOPERS LLP FOR THE FISCAL YEAR ENDING DECEMBER 31, 2026 | 65 | | Recommendation of the Board | 65 | | Fees Paid to the Independent Registered Public Accounting Firm | 65 | | Policy on Audit Committee Pre-Approval of Audit and Non-Audit Services | 66 | | ADDITIONAL INFORMATION | 66 |
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875 E. Wisconsin Avenue, Suite 800 Milwaukee, Wisconsin 53202 Proxy Statement General Information We are providing you this proxy statement in connection with the solicitation of proxies by our Board of Directors to be voted at the 2026 Annual Meeting of Stockholders (the “Annual Meeting”) and at any adjournment or postponement thereof. The Annual Meeting will be held virtually on Wednesday, June 3, 2026, at 11:00 a.m. Central Time. The Annual Meeting can be accessed by visiting edge.media-server.com/mmc/p/mddmoibn, where you will be able to listen to the meeting live and vote online. Please note this is the only means of accessing the Annual Meeting and only stockholders as of the record date will be able to access the Annual Meeting. Representatives from our Board of Directors, certain of our executive officers, and representatives from our independent registered public accounting firm will be available at the Annual Meeting to respond to appropriate questions from stockholders. We provide our stockholders with access to proxy materials on the Internet instead of mailing a printed copy of the materials to each stockholder. On or about April 17, 2026, we will mail to our stockholders a Notice of Internet Availability of Proxy Materials containing instructions on how to access this proxy statement and our 2025 Annual Report on Form 10-K online. The notice also provides instructions on how to vote online and how to request a printed set of proxy materials. As used in this proxy statement, “Company” refers to Artisan Partners Asset Management Inc. and, unless the context otherwise requires, its consolidated subsidiaries. MATTERS TO BE VOTED ON AT THE ANNUAL MEETING
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| Proposal | Board Recommendation | Vote Required | | Election of Directors | FOR each nominee | Plurality of the votes present in person or by proxy | | Advisory Vote to Approve Named Executive Officer Compensation | FOR | Majority of the votes present in person or by proxy | | Ratification of the Appointment of PricewaterhouseCoopers LLP as our Independent Registered Public Accounting Firm for the Fiscal Year Ending December 31, 2026 | FOR | Majority of the votes present in person or by proxy |
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Questions and Answers About the Proxy Materials and Annual Meeting Why did I receive a notice in the mail regarding the Internet availability of proxy materials instead of a printed set of materials? We provide access to our proxy materials over the Internet under the Securities and Exchange Commission’s “notice and access” rules. Information about how to access and review our proxy materials is included in the notice you received in the mail. The notice also explains how you may submit your vote over the Internet. You will not receive printed copies of our proxy materials unless you request them by following the instructions on the notice. If you own shares of stock in more than one account—for example, in a joint account with your spouse and in your individual brokerage account—you may receive more than one notice. To vote all of your shares, please follow the instructions provided on each notice you receive. What information does the notice contain? The notice provides information about: ▪the date, time and virtual format of the Annual Meeting; ▪the proposals to be voted on at the Annual Meeting and our Board’s recommendation with regard to each item; ▪the website where our proxy materials can be viewed; ▪instructions on how to request a paper copy of the proxy materials; and ▪instructions on how to vote by Internet, by mail or during the virtual Annual Meeting. What proposals will be voted on at the Annual Meeting? There are three proposals to be considered and voted on at the Annual Meeting. ▪The election of nine directors to serve until the 2027 annual meeting of stockholders ▪An advisory vote to approve named executive officer compensation ▪The ratification of the appointment of PricewaterhouseCoopers LLP as our independent registered public accounting firm for the fiscal year ending December 31, 2026 Our Board is not aware of any other matters to come before the Annual Meeting. If any other matter should be properly presented for consideration at the Annual Meeting or any adjournment or postponement thereof, the persons named as proxies will vote the shares represented by all valid proxy cards in accordance with their best judgment. How does the Board recommend I vote? Our Board recommends that you vote: ▪FOR each of the nominees for election to the Board; ▪FOR the approval of named executive officer compensation; and ▪FOR the ratification of the appointment of PricewaterhouseCoopers LLP as our independent registered public accounting firm for the fiscal year ending December 31, 2026. What shares can be voted at the Annual Meeting? All holders of our common stock at the close of business on April 9, 2026 (the “Record Date”) are entitled to vote in connection with the Annual Meeting. On that day, we had the following numbers of shares outstanding:
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| Class A common stock | 70,993,257 | | Class B common stock | 1,147,029 | | Class C common stock | 8,917,476 | | Total shares of common stock | 81,057,762 |
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Each share of Class A, Class B and Class C common stock entitles its holder to one vote. The holders of each class of our common stock will vote together as a single class on all matters presented to stockholders. Pursuant to our stockholders agreement, a three-member stockholders committee, currently consisting of Jason A. Gottlieb (Chief Executive Officer and President), Eric R. Colson (Executive Chair and Chair of the Board) and Charles J. Daley, Jr. (Executive Vice President, Chief Financial Officer and Treasurer), has an irrevocable proxy to vote all of the shares of Class B common stock and those shares of Class A common stock that we have granted to, and are held by, our employees. Those shares that are subject to the stockholders agreement represented approximately 9.2% of the combined voting power of our common stock as of the Record Date, though the percentage of shares actually voted by the stockholders committee in connection with the Annual Meeting may be less than 9.2%. For more information on our stockholders agreement and stockholders committee, see “Relationships and Related Party Transactions—Transactions in Connection with our IPO—Stockholders Agreement”. How do I hold my stock? Most of our stockholders hold shares as beneficial owner through a broker or other nominee rather than directly in their own name on the records of our transfer agent. There are distinctions between shares held of record and those owned beneficially, which are highlighted below. ▪Stockholder of Record. If you hold stock that is registered directly in your name on the records of our transfer agent, Equiniti Trust Company, LLC, you are a stockholder of record. ▪Beneficial Owner. If you hold stock in an account through a broker, bank or similar institution, you are considered a beneficial owner of shares held in street name. How do I vote? If you are a stockholder of record, you may vote in one of three ways. ▪By Internet. Go to www.astproxyportal.com/ast/18158 and follow the instructions for Internet voting. You will need the control number located on your notice or proxy card, as applicable. Internet voting is available 24 hours a day. If you choose to vote by Internet, you do not need to return a proxy card. To be valid, your vote by Internet must be received by 11:59 p.m. ET, on June 2, 2026. ▪By Mail. If you request a printed copy of the proxy materials, you will receive a proxy card. You may then vote by signing, dating and mailing the proxy card in the envelope provided. To be valid, your vote by mail must be received by 11:59 p.m. ET, on June 2, 2026. ▪Virtually at the Annual Meeting. You may vote at the Annual Meeting. (See “How can I attend and vote my shares at the virtual Annual Meeting?” below.) If you are the beneficial owner of shares held in street name, you will receive voting instructions from the institution holding your shares. The availability of telephone or Internet voting will depend upon that particular institution’s voting processes. You may also attend and vote at the Annual Meeting if you register in advance. See “How can I attend and vote my shares at the virtual Annual Meeting?” below. How many votes must be present to transact business at the Annual Meeting? To conduct business at the Annual Meeting, a majority of the votes entitled to be cast must be present or represented by proxy at the virtual meeting. This is called a quorum. Abstentions will be counted as present and entitled to vote for purposes of establishing a quorum. If I submit a proxy by Internet or mail, how will my shares be voted? If you properly submit your proxy by Internet or mail and do not subsequently revoke your proxy, your shares will be voted in accordance with your instructions. If you sign, date and return a proxy card but do not give voting instructions, your shares will be voted: ▪FOR each of the nominees for election to the Board; ▪FOR the approval of named executive officer compensation; and ▪FOR the ratification of the appointment of PricewaterhouseCoopers LLP as our independent registered public accounting firm for the fiscal year ending December 31, 2026. If I am the beneficial owner of shares held in street name and do not provide voting instructions, can my broker still vote my shares? If you hold shares in street name and do not provide specific voting instructions, your broker may vote your shares with respect to the ratification of the appointment of PricewaterhouseCoopers LLP as our independent registered public accounting firm because this is considered a “routine” matter. However, the other proposals are considered “non-routine” matters, which means that your broker may not vote your shares on these proposals without receiving voting instructions from you. When your broker submits its proxy on routine matters, but does not vote on other matters, a broker non-vote occurs with respect to those matters not voted upon. What is the vote required for each proposal? With respect to the election of directors, a plurality of the votes cast by the holders of the shares present virtually or represented by proxy and entitled to vote on the matter is required for the election of each of the nine nominees. This means that the nine nominees receiving the highest number of votes will be elected regardless of whether the number of votes received by any such nominee constitutes a majority of the number of votes cast. All of the other proposals require the affirmative vote of the holders of a majority of the shares present or represented by proxy at the Annual Meeting and entitled to vote on the matter. Abstentions will be counted as shares entitled to vote and therefore will have the effect of negative votes with respect to each proposal requiring a majority vote. Broker non-votes will not be counted as shares entitled to vote with respect to the election of directors and the advisory vote on our named executive officers’ compensation and therefore will have no effect on the voting results. How can I attend and vote my shares at the virtual Annual Meeting? If you are a stockholder of record on the Record Date, you can attend as well as vote at the virtual Annual Meeting by visiting edge.media-server.com/mmc/p/mddmoibn and entering the meeting password and the control number listed on your Notice Regarding the Availability of Proxy Materials. If you are the beneficial owner of shares held in street name and would like to attend and vote at the virtual Annual Meeting, you must register in advance. To register, you must obtain a legal proxy from the institution holding your shares. You must then submit a request for registration to Equiniti Trust Company, LLC by: (1) email to proxy@equiniti.com; (2) facsimile to 718.765.8730, or (3) mail to Equiniti Trust Company, LLC, Attn: Proxy Tabulation Department, 1110 Centre Pointe Curve, Suite 101, Mendota Heights, MN 55120. Requests for registration must be labeled as “Legal Proxy” and received by Equiniti Trust Company, LLC no later than 5:00 p.m. ET on June 2, 2026. Please contact your broker for more information. How can I change my vote or revoke a proxy? If you are a stockholder of record, you may change your vote or revoke a proxy at any time prior to the virtual Annual Meeting by submitting a written notice of revocation or a proxy bearing a later date to the attention of the Company’s Corporate Secretary at 875 East Wisconsin Avenue, Suite 800, Milwaukee, WI 53202, no later than the deadline specified on the notice or proxy card, or by voting at the virtual Annual Meeting. If you are the beneficial owner of shares held in street name, you may change your vote or revoke a proxy in accordance with the instructions provided by the institution through which you hold your shares. Will I be able to ask questions during the virtual Annual Meeting?
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Stockholders will be able to transmit questions through the virtual meeting website. The Company will answer appropriate questions during the meeting or by following up with a stockholder if the stockholder provides contact information when transmitting the question through the virtual meeting website. How can I obtain technical support during the virtual Annual Meeting? If you encounter any difficulties accessing the virtual meeting webcast, please refer to the “Application Help” link available on the log in page. Where and when will the voting results be available? We will file the official voting results on a Form 8-K within four business days following the Annual Meeting. If the final results are not available at that time, we will provide preliminary voting results in the Form 8-K and final results in an amendment to the Form 8-K when they become available. Who pays for the expenses of this proxy solicitation? We will pay all expenses incurred in connection with the solicitation of proxies. Proposal 1: Election of Directors Under our amended and restated bylaws, our Board sets the number of directors who may serve on the Board. The size of our Board is currently set at nine directors. On the recommendation of the Governance and Sustainability Committee, each of our nine current directors is nominated for re-election for a one-year term expiring at our 2027 annual meeting of stockholders. Each director will hold office until his or her successor is duly elected and qualified or until the director’s earlier resignation or removal. Proxies cannot be voted for a greater number of individuals than the nine nominees named in this proxy statement. Holders of proxies solicited by this proxy statement will vote the proxies received by them as directed or, if no direction is made, for the election of the Board’s nine nominees. If any nominee is unable or declines to serve at the time of the Annual Meeting, the proxy holders may vote for a nominee designated by the Board to fill the vacancy. The Board may also determine to leave the vacancy temporarily unfilled or reduce the size of the Board in accordance with our amended and restated bylaws. Under the terms of our stockholders agreement, our stockholders committee is required to vote the shares subject to the agreement for the election of each of Mr. Barger and Mr. Colson. Under the agreement, we are required to use our best efforts to elect Mr. Barger and Mr. Colson, which efforts must include soliciting proxies for, and recommending that our stockholders vote in favor of, the election of each. The Board recommends that you vote FOR the election of each of the nominees. DIRECTOR NOMINEES
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| Independence ▪The Board has appointed a Lead Independent Director ▪Seven of the nine members of the Board are independent under the NYSE listing standards ▪All directors serving on the Audit, Compensation and Governance and Sustainability Committees are independent ▪Independent directors meet regularly without management present | Tenure ▪Appropriate mix of short- and long-tenured directors ▪One independent director has served on the Board or in an advisory role since our founding ▪Two independent directors joined the Board in connection with our 2013 IPO ▪Four independent directors have joined in the last six years |
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| Knowledge, Experience and Skills of Our Directors | | | | 89% Executive Leadership | 89% International Business | 78% Risk Management & Compliance | | 100% Investment Management Industry | 44% Human Capital Management | 33% Information Technology Matters | | 100% Financial Management & Reporting | 67% Sustainability Matters | 44% Government & Regulatory Matters |
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The names of our director nominees and their ages, positions and biographies are set forth below.
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| Name | Age | Position with the Company | | Jennifer A. Barbetta | 53 | Independent Director | | Matthew R. Barger | 68 | Independent Director | | Kane Brenan | 57 | Independent Director | | Eric R. Colson | 57 | Chair of the Board, Executive Chair | | Peter B. Crawford | 57 | Independent Director | | Stephanie G. DiMarco | 68 | Lead Independent Director | | Jason A. Gottlieb | 56 | Director, President and Chief Executive Officer | | Jeffrey A. Joerres | 66 | Independent Director | | Saloni S. Multani | 47 | Independent Director |
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| | Ms. Barbetta has served on our Board and on the Governance and Sustainability Committee since October 2020. She also serves on the Compensation Committee. She is currently a managing director and chief operating officer at TA Associates. Prior to joining TA Associates in 2022, she was a senior managing director and chief operating officer at Starwood Capital Group. Prior to joining Starwood in 2019, she was a partner and managing director at Goldman Sachs. Ms. Barbetta spent more than 23 years at Goldman Sachs where she served in a variety of leadership roles within Goldman Sachs Asset Management. She currently serves on the Dean’s Advisory Council for the Villanova School of Business. Through her substantial experience in the investment management industry, Ms. Barbetta brings strong leadership skills as well as deep knowledge of operational and strategic matters to the Board. | | | Mr. Barger has served on our Board since February 2013. Mr. Barger is chair of the Governance and Sustainability Committee and also serves on the Audit Committee. He is president and chief investment officer of Intellectual Capital Partners, LLC, and he has been a senior advisor at Hellman & Friedman LLC (“H&F”) since 2007. Prior to 2007, he served in a number of roles at H&F, including managing general partner and chairman of the investment committee. Mr. Barger was a member of the advisory committee of Artisan Partners Holdings from January 1995 to the completion of our initial public offering in March 2013. Prior to joining H&F, Mr. Barger was an associate in the corporate finance department of Lehman Brothers Kuhn Loeb. Mr. Barger’s expertise in the investment management industry and his broad experience in public and private directorships, finance, corporate strategy and business development provide valuable insight to the Board. | | | Mr. Brenan has served on our Board and the Compensation Committee since January 2026. He is chief executive officer of TIFF Investment Management, a role he has held since 2020. Prior to joining TIFF in 2020, Mr. Brenan spent more than 20 years at Goldman Sachs in a variety of leadership roles, most recently as partner, global head and co-chief investment officer of the Global Solutions Portfolio Group. Previously, Mr. Brenan was a corporate mergers and acquisitions lawyer at Cravath, Swaine & Moore. Mr. Brenan’s extensive investment management leadership and operational experience provides the Board with valuable perspective on strategic decision-making and risk management. |
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| | Mr. Colson has been executive chair and chair of the board of Artisan Partners Asset Management since June 2025, prior to which he served as chief executive officer and a director of Artisan Partners Asset Management from March 2011. Mr. Colson served as president of Artisan Partners Asset Management from March 2011 to January 2021 and as chairman of the Board from August 2015 to August 2021. He was a director of Artisan Partners Funds, Inc. from November 2013 to December 2022. Mr. Colson served as chief executive officer of Artisan Partners from January 2010 to June 2025. Before serving as Artisan Partners’ chief executive officer, Mr. Colson served as chief operating officer for investment operations from March 2007 through January 2010. Mr. Colson has been a managing director of Artisan Partners since he joined the firm in January 2005. Mr. Colson’s experience as our chief executive officer and in his other prior roles makes him well qualified to serve as chair of the Board. Our Board values his extensive knowledge of our business and the investment management industry, which provides valuable continuity of leadership. | | | Mr. Crawford has served on our Board since July 2025 and is currently chair of the Audit Committee. He served as managing director and advisor at Charles Schwab from October 2024 through June 2025, after serving as chief financial officer from May 2017 until he retired from the role in October 2024. Prior to serving as chief financial officer, he held a number of leadership roles with the firm. Mr. Crawford joined Charles Schwab in 2001, after serving as an engagement manager at McKinsey & Company. He currently serves as an operating advisor of CD&R. Through his substantial experience in the financial services industry, Mr. Crawford brings strong leadership skills as well as deep knowledge of operational and strategic matters to the Board. | | | Ms. DiMarco has served on our Board since February 2013 and as lead independent director since June 2025. She is also a member of the Governance and Sustainability Committee. Previously, she served as Independent Chair of the Board from August 2021 to June 2025. Ms. DiMarco founded Advent Software, Inc. in June 1983 and served Advent in various capacities over time, including as chair of its board of directors, chief executive officer and chief financial officer. She currently serves on the advisory board of the College of Engineering at the University of California Berkeley and the board of directors of Summer Search, a non-profit organization. She is a member of several private company boards and is an advisor to NYCA, a venture capital firm. She is a former member of the board of trustees of the University of California Berkeley Foundation, a former advisory board member of the Haas School of Business at the University of California Berkeley and a former trustee of the San Francisco Foundation where she chaired the investment committee. Ms. DiMarco’s extensive experience in technological developments for the investment management industry provides useful insight to our Board and her management experience as a founder, officer and director of Advent provide perspective on the management and operations of a public company. |
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| | Jason A. Gottlieb has been chief executive officer and a director of Artisan Partners Asset Management since June 2025 and has served as president of Artisan Partners Asset Management since January 2021. From February 2017 to January 2021, he served as executive vice president of Artisan Partners Asset Management. Mr. Gottlieb joined Artisan Partners in October 2016 as a managing director and the chief operating officer of investments. Prior to joining the firm, Mr. Gottlieb was a partner and managing director at Goldman Sachs where he was a leader in Goldman Sachs’ Alternative Investment & Manager Selection Group and a portfolio manager on the Goldman Sachs Multi-Manager Alternatives Fund. Mr. Gottlieb’s experience as our president and in his prior roles makes him well qualified to serve as a member of the Board. Our Board values his substantial experience in the investment management industry, his proven track record of leadership and his extensive knowledge of and strategic contributions to our business. | | | Mr. Joerres has served on our Board since February 2013 and is also chair of the Compensation Committee. Mr. Joerres was executive chairman and chairman of the board of directors of ManpowerGroup until his retirement in December 2015. From April 1999 until May 2014, he served as chief executive officer of ManpowerGroup. Mr. Joerres currently serves on the boards of directors of ConocoPhillips and Western Union. He is also past chairman and director of the Federal Reserve Bank of Chicago, a former director of Johnson Controls International plc, and a former trustee of the U.S. Council for International Business. Our Board values Mr. Joerres’s global operating and leadership experience and his innovative approach to optimizing human capital. In addition, his substantial experience on public company boards enables him to provide guidance to our Board with respect to the management and operations of a public company. | | | Ms. Multani has served on our Board since August 2021 and is also a member of the Audit Committee. Ms. Multani is currently a partner at Galvanize Climate Solutions, a climate-focused investment firm based in San Francisco. Between December 2016 and April 2020, Ms. Multani focused on investing in companies in the sustainability ecosystem, working with Three Cairns Group, a family office and Congruent Ventures, an early stage venture firm. During 2016, Ms. Multani served as a consultant at Hellman & Friedman LLC, after having also worked there from 2006 to 2012. Between her time at Hellman & Friedman, Ms. Multani was a partner and investment team member at SPO Partners, a specialty long-only investment firm. She began her career in 2000 as an analyst at Blackstone. Ms. Multani brings substantial experience with investment management operations to the Board, as well as a deep knowledge of sustainability and climate-focused investing. In addition, her extensive financial and accounting experience strengthens our Board through her understanding of accounting principles, financial reporting rules and regulations, and internal controls. |
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We believe that our directors collectively have the skills and experience to oversee and guide our business. Each director has the integrity, business judgment and collegiality that are among the essential characteristics for membership on our Board. Additionally, each director is a committed and engaged member of the Board. Our directors bring highly developed skills and substantial knowledge in, among other areas, finance, business operations, corporate strategy and business development. In addition, members of our Board have had a great diversity of experiences and bring to our Board a wide variety of perspectives that enhance their ability to provide direction to the Company. They have had wide-ranging leadership experience and extensive involvement across a range of industries and in the investment management and financial services industries in particular. Board Composition and Leadership DIRECTOR INDEPENDENCE Our Corporate Governance Guidelines provide that a majority of our directors must satisfy the criteria for independence under the NYSE listing standards and not have any material relationship with the Company. Our Board has determined that each of Jennifer A. Barbetta, Matthew R. Barger, Kane Brenan, Peter B. Crawford, Stephanie G. DiMarco, Jeffrey A. Joerres and Saloni S. Multani are independent directors. In addition, Tench Coxe, who was a director until his term on the Board expired at our 2025 Annual Meeting on June 4, 2025, had previously been determined by the Board to be independent. The Board presently consists of nine directors, seven of whom are independent. BOARD LEADERSHIP STRUCTURE Our Board believes there is no single, generally accepted approach to providing board leadership and that given the dynamic and competitive environment in which we operate, the right board leadership structure may change over time as circumstances warrant. The Board will discuss and consider the matter from time to time as circumstances change and, subject to our amended and restated bylaws, has the flexibility to modify our Board leadership structure as it deems appropriate. Mr. Colson currently serves as Chair of the Board and Ms. DiMarco serves as Lead Independent Director.
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| The powers and responsibilities of each Board leadership role include: | | | Role | Principal Responsibilities | | Chair of the Board | ▪Authority to call meetings of the Board ▪Authority to call special meetings of stockholders ▪Preside over meetings of directors and stockholders ▪Assist with the development of Board meeting agendas in collaboration with the Lead Independent Director and CEO | | Lead Independent Director | ▪Preside over Board meetings in the absence of the Chair ▪Preside over executive sessions of independent directors and brief the CEO and Executive Chair on issues arising in executive session ▪Assist with the development of Board meeting agendas in collaboration with the Chair and CEO ▪Ensure the quality, quantity and timeliness of information provided to the Board ▪Act as principal liaison between the independent directors and executive management ▪Upon the request of executive management, consult and communicate with the Company’s stockholders and other stakeholders |
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The Board believes this leadership structure is the most appropriate structure for the Company at this time because it promotes an effective balance between the Board’s independent oversight of the business and management’s day-to-day operational leadership. COMMITTEES OF THE BOARD The Board conducts its business through meetings of the Board and its committees. The Board has three standing committees: the Audit Committee, the Compensation Committee and the Governance and Sustainability Committee. Each committee operates in accordance with a written charter, which is approved by the Board. The charters are available on our website at www.apam.com. The current members and chairs of the committees are:
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| Director | Audit Committee | Compensation Committee | Governance and Sustainability Committee | | Jennifer A. Barbetta | | X | X | | Matthew R. Barger | X | | Chair | | Kane Brenan | | X | | | Eric R. Colson | | | | | Peter B. Crawford | Chair | | | | Stephanie G. DiMarco | | | X | | Jason A. Gottlieb | | | | | Jeffrey A. Joerres | | Chair | | | Saloni S. Multani | X | | | | | 100% Independent | 100% Independent | 100% Independent |
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Audit Committee The Audit Committee is a separately-designated standing audit committee established in accordance with Section 3(a)(58)(A) of the Securities Exchange Act of 1934, as amended. It is comprised solely of directors who meet the independence requirements under the NYSE listing standards and the Exchange Act, and who are “financially literate” under the NYSE rules. The Board has determined that each member of the Audit Committee has “accounting or related financial management expertise” and qualifies as an “audit committee financial expert”. The Audit Committee assists the Board in fulfilling its oversight responsibilities with respect to, among other matters: ▪the integrity and quality of our financial statements; ▪our compliance with legal and regulatory requirements; ▪the independent auditor’s qualifications, independence and performance; and ▪our internal audit function. Governance and Sustainability Committee The Governance and Sustainability Committee is comprised solely of directors who meet the independence requirements under the NYSE listing standards. The responsibilities of the Governance and Sustainability Committee include: ▪making recommendations to the Board regarding the selection of candidates for service on the Board and the suitability of proposed nominees as directors; ▪periodically reviewing the Company’s Corporate Governance Guidelines and recommending changes to the Board, as needed; ▪overseeing the evaluation of the Board and its committees; and ▪overseeing the Company’s approach to sustainability matters that are significant to the Company. Compensation Committee Each member of the Compensation Committee is independent under the NYSE listing standards. Among other things, the Compensation Committee: ▪reviews and approves, or makes recommendations to our Board with respect to, the compensation of our executive officers; ▪oversees and makes recommendations to our Board with respect to incentive compensation plans; and ▪makes recommendations to our Board with respect to director compensation. BOARD AND COMMITTEE MEETINGS During 2025, our Board held five meetings, the Audit Committee held eight meetings, the Compensation Committee held six meetings and the Governance and Sustainability Committee held six meetings. As a matter of policy, it is expected that all directors should make every effort to attend meetings of the Board and meetings of the committees of which they are members. During 2025, each director attended at least 75% of the aggregate number of meetings of the Board and meetings of the committees of which he or she was a member. Executive sessions of our independent directors are generally held in connection with each regularly scheduled Board meeting. Our lead independent director presides over the executive sessions of independent directors. We encourage all of our directors to attend our annual meetings of stockholders. Six of our seven directors serving at the time attended the 2025 annual meeting. COMPENSATION COMMITTEE INTERLOCKS AND INSIDER PARTICIPATION The members of the Compensation Committee during fiscal year 2025 were Jennifer A. Barbetta, Tench Coxe (until June 4, 2025), Stephanie G. DiMarco (beginning June 4, 2025), and Jeffrey A. Joerres (Chair). Each member of the Compensation Committee during 2025 was an independent director under the rules of the NYSE and our Corporate Governance Guidelines. None of the members of the Compensation Committee was an officer or employee of the Company during 2025. During 2025, none of our executive officers served on the board of directors or compensation committee of a company that has or had an executive officer serving on our Board. In connection with our initial public offering, we entered into agreements with the limited partners of Artisan Partners Holdings. Information about the agreements, and transactions thereunder, are more fully discussed in “Relationships and Related Party Transactions—Transactions in Connection with our IPO”. Members of our Compensation Committee from time to time invest in the firm’s investment vehicles, including mutual funds, Artisan-sponsored private funds or Artisan-branded collective investment trusts. These transactions are more fully discussed in “Relationships and Related Party Transactions—Investments in our Funds.” DIRECTOR COMPENSATION The Compensation Committee is responsible for periodically reviewing non-employee director compensation and recommending changes, if appropriate, to the full Board. In connection with this review, the Compensation Committee considers information provided by McLagan, our compensation consultant, including data regarding the total compensation paid to directors at peer companies, as well as information on the individual components of that compensation. The objective of our director compensation program is to compensate our highly qualified non-employee directors for their time, efforts and contributions, and to attract highly qualified non-employee director candidates for potential future service on the Board. For fiscal year 2025, the director compensation program entitled non-employee directors to a cash component, designed to compensate directors for their service on the Board, and an equity component, designed to align the interests of the directors with those of the Company’s stockholders. For 2025, the standard equity component of the Company’s director compensation program consisted of $125,000 of restricted stock units for each of the non-employee directors awarded under the Artisan Partners Asset Management Inc. 2023 Non-Employee Director Compensation Plan. Each outstanding restricted stock unit entitles the holder to dividend equivalent rights on one outstanding share of Class A common stock. The shares of Class A common stock underlying the restricted stock units will be delivered on the earlier to occur of (i) a change in control of the Company and (ii) the termination of the director’s service on the Board. During 2025, each of Ms. Barbetta, Mr. Barger, Ms. DiMarco, Mr. Joerres and Ms. Multani was entitled to receive a cash payment of $75,000, paid in four quarterly installments. Our independent Chair of the Board was entitled to receive an additional cash retainer of $125,000. The chair of our Audit Committee was entitled to receive an additional cash retainer of $50,000, and the chairs of each of the Compensation Committee and Governance and Sustainability Committee were entitled to receive an additional cash retainer of $40,000. Each of Ms. Barbetta, Mr. Barger, Ms. DiMarco, Mr. Joerres and Ms. Multani elected to receive the value of this cash compensation in the form of additional restricted stock units. As a result, an additional number of restricted stock units were granted to each of them in January 2025, the value of which equaled the amount of cash compensation to which each director was entitled. One-quarter of the units awarded to each director in lieu of cash compensation vested in each quarter of 2025. Tench Coxe’s term on the Board expired at our 2025 Annual Meeting, which was held on June 4, 2025. For his service during 2025, Mr. Coxe received the equity component of the 2025 director compensation program, as well as a cash payment of $37,500, which represented the cash component prorated for his period of service on the Board. Upon his departure, his 54,227 restricted stock units were canceled and the Class A common shares underlying the restricted stock units were delivered to him. Mr. Crawford was appointed to the Board effective July 2, 2025. For his service during 2025, Mr. Crawford received a cash payment of $37,500, which represented payment of the 2025 cash component of the director compensation program, prorated for his period of service on the Board.
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| (1) On December 31, 2025, Ms. Barbetta had 23,126 restricted stock units outstanding. | | (2) On December 31, 2025, Mr. Barger had 68,135 restricted stock units outstanding. | | (3) On December 31, 2025, each of Mr. Coxe and Mr. Crawford did not have any restricted stock units outstanding. | | (4) On December 31, 2025, Ms. DiMarco had 78,604 restricted stock units outstanding. | | (5) On December 31, 2025, Mr. Joerres had 68,135 restricted stock units outstanding. | | (6) On December 31, 2025, Ms. Multani had 24,726 restricted stock units outstanding. |
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| What we do | | What we don't do | | | • | Align pay with performance; majority of compensation is performance based | • • | Employment agreements Bonus guarantees | | • | Require that half of all equity awarded to NEOs includes career vesting conditions | • | Retirement income or pension plans other than the same 401(k) plan available to all employees | | • | Utilize double-trigger change in control provisions on all restricted stock awarded to NEOs | • | Benefit plans or perquisites that cover only one or more of our executive officers | | • | Maintain equity ownership guidelines requiring a significant amount of Company equity be held by executive officers | • • | Allow for short sales or hedging of Company stock “Golden parachute” tax gross ups | | • | Maintain a clawback policy that complies with applicable law | | | | • | Retain an independent compensation consultant | | | | • | Impose restrictions on the pledging of Company stock | | |
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2025 Executive Compensation Overview In March 2025, we announced that Jason Gottlieb, then President, would succeed Eric Colson as Chief Executive Officer, and that Mr. Colson would become Executive Chair, effective following the Company’s 2025 annual meeting of stockholders on June 4, 2025. At the annual meeting, Mr. Gottlieb was elected to the Board of Directors and Mr. Colson became Chair of the Board, succeeding Stephanie DiMarco, who transitioned to Lead Independent Director. The 2025 compensation of Mr. Colson and Mr. Gottlieb reflects this mid-year transition in roles and responsibilities, including Mr. Colson’s assumption of an active and engaged Executive Chair role. The core elements of our NEOs’ compensation are cash-based salary, a performance-based cash award and long-duration equity awards, one-half of which contain career vesting provisions. For 2025, performance-based compensation comprised 95% of each of Mr. Gottlieb’s and Mr. Colson’s total compensation. For our other NEOs, performance-based compensation ranged from 88% to 90% of total compensation. The following table shows the elements of compensation paid to our NEOs with respect to 2025, 2024 and 2023. The amounts in this table vary from the data and reporting conventions required by SEC rules in the Summary Compensation Table.
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| | | | Performance-Based Compensation | | | | | | | | | | Equity Awards | | | | | Name & Principal Position | Year | Salary | Cash Award | Standard Grant | Career Grant | Total Direct Compensation | Performance- Based as % of Total | | Jason A. Gottlieb | 2025 | $300,000 | $3,570,000 | $810,807 | $810,807 | $5,491,614 | 95% | | Chief Executive Officer | 2024 | 300,000 | 3,400,000 | 774,200 | 774,200 | 5,248,400 | 94% | | | 2023 | 300,000 | 3,200,000 | 753,434 | 753,434 | 5,006,868 | 94% | | Eric R. Colson | 2025 | 385,000 | 4,761,000 | 976,354 | 976,354 | 7,098,708 | 95% | | Executive Chair | 2024 | 500,000 | 4,600,000 | 945,940 | 945,940 | 6,991,880 | 93% | | | 2023 | 500,000 | 4,000,000 | 753,434 | 753,434 | 6,006,868 | 92% | | Charles J. Daley, Jr. | 2025 | 300,000 | 1,821,750 | 427,344 | 427,344 | 2,976,438 | 90% | | Chief Financial Officer | 2024 | 300,000 | 1,735,000 | 408,247 | 408,247 | 2,851,494 | 89% | | | 2023 | 300,000 | 1,613,000 | 404,327 | 404,327 | 2,721,654 | 89% | | Christopher J. Krein | 2025 | 300,000 | 1,725,250 | 501,610 | 501,610 | 3,028,470 | 90% | | Head of Global Distribution | 2024 | 300,000 | 1,675,000 | 497,877 | 497,877 | 2,970,754 | 90% | | | 2023 | 300,000 | 1,650,000 | 444,524 | 444,524 | 2,839,048 | 89% | | Eileen L. Kwei | 2025 | 300,000 | 1,512,000 | 353,035 | 353,035 | 2,518,070 | 88% | | Chief Administrative Officer | 2024 | 300,000 | 1,340,000 | 348,523 | 348,523 | 2,337,046 | 87% | | | 2023 | 300,000 | 1,250,000 | 311,427 | 311,427 | 2,172,854 | 86% | | Samuel B. Sellers 1 | 2025 | 300,000 | 1,648,500 | 344,065 | 344,065 | 2,636,630 | 89% | | Chief Operating Officer | | | | | | | | | 1 Mr. Sellers was not a NEO in 2024 or 2023. | | | | | | | |
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| Name & Principal Position | Year | Salary ($) | Stock Awards ($) (1) | Non-Equity Incentive Plan Compensation ($) (2) | All Other Compensation ($) (3) | Total ($) | | Jason A. Gottlieb Chief Executive Officer | 2025 | 300,000 | 1,548,400 | 3,570,000 | 63,736 | 5,482,136 | | | 2024 | 300,000 | 1,506,868 | 3,400,000 | 63,127 | 5,269,995 | | | 2023 | 300,000 | 1,413,596 | 3,200,000 | 56,524 | 4,970,120 | | Eric R. Colson Executive Chair | 2025 | 385,000 | 1,891,879 | 4,761,000 | 206,376 | 7,244,255 | | | 2024 | 500,000 | 1,506,868 | 4,600,000 | 182,741 | 6,789,609 | | | 2023 | 500,000 | 1,994,080 | 4,000,000 | 176,205 | 6,670,285 | | Charles J. Daley, Jr. Chief Financial Officer | 2025 | 300,000 | 816,493 | 1,821,750 | 117,980 | 3,056,223 | | | 2024 | 300,000 | 808,653 | 1,735,000 | 114,600 | 2,958,253 | | | 2023 | 300,000 | 805,540 | 1,613,000 | 102,441 | 2,820,981 | | Christopher J. Krein Head of Global Distribution | 2025 | 300,000 | 995,754 | 1,725,250 | 61,696 | 3,082,700 | | | 2024 | 300,000 | 889,048 | 1,675,000 | 60,169 | 2,924,217 | | | 2023 | 300,000 | 884,127 | 1,650,000 | 56,060 | 2,890,187 | | Eileen L. Kwei Chief Administrative Officer | 2025 | 300,000 | 697,045 | 1,512,000 | 63,527 | 2,572,572 | | | 2024 | 300,000 | 622,854 | 1,340,000 | 60,247 | 2,323,101 | | | 2023 | 300,000 | 619,883 | 1,250,000 | 58,621 | 2,228,504 | | Samuel B. Sellers Chief Operating Officer (4) | 2025 | 300,000 | 627,323 | 1,648,500 | 60,370 | 2,636,193 | | (1) Amounts reported represent the grant date fair value of the equity granted to each NEO in the year indicated. The values reported for restricted shares represent the grant date fair value in accordance with FASB ASC Topic 718 based upon the price of our common stock at the grant date. See the Grants of Plan-Based Awards During 2025 table for more information about the equity awards granted in 2025. | | | | | | | | (2) Amounts earned by our NEOs for 2025, 2024 and 2023 were paid in February 2026, February 2025 and February 2024, respectively. See the Grants of Plan-Based Awards During 2025 table below for more information about the 2025 cash awards. | | | | | | | | (3) Amounts in this column represent the aggregate dollar amount of all other compensation received by our NEOs. All other compensation includes, but is not limited to (a) Company matching contributions to contributory defined contribution plan accounts equal to 100% of their pre-tax contributions (excluding catch-up contributions for NEOs age 50 and older) up to the limitations imposed under applicable tax rules, which contributions totaled $23,500 for each NEO in 2025; (b) health and vision insurance premiums and HSA contributions paid by the Company for plans that are offered to all eligible employees on a nondiscriminatory basis in the aggregate amount of approximately $36,000 for each NEO in 2025; and (c) reimbursement for 2025 self-employment payroll tax expense as follows: $136,720 for Mr. Colson and $56,362 for Mr. Daley and (d) costs incurred by the company for family travel to Artisan events. In 2025, family airfare cost for Mr. Colson was $10,085. Each of the NEOs invest, from time to time, in funds managed by an affiliate of the Company on terms described under Relationships and Related Party Transactions—Investments in our Funds. | | | | | | | | (4) Mr. Sellers became a NEO in 2025. Amounts for 2024 and 2023 have therefore been omitted. | | | | | | |
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| Name | Year | Salary ($) | Stock Awards ($) (1) | Non-Equity Incentive Plan Compensation ($) | All Other Compensation ($) | Total ($) | | Jason A. Gottlieb | 2025 | 300,000 | 1,621,614 | 3,570,000 | 63,736 | 5,555,350 | | | 2024 | 300,000 | 1,548,400 | 3,400,000 | 63,127 | 5,311,527 | | | 2023 | 300,000 | 1,506,868 | 3,200,000 | 56,524 | 5,063,392 | | Eric R. Colson | 2025 | 385,000 | 1,952,708 | 4,761,000 | 206,376 | 7,305,084 | | | 2024 | 500,000 | 1,891,879 | 4,600,000 | 182,741 | 7,174,620 | | | 2023 | 500,000 | 1,506,868 | 4,000,000 | 176,205 | 6,183,073 | | Charles J. Daley, Jr. | 2025 | 300,000 | 854,689 | 1,821,750 | 117,980 | 3,094,419 | | | 2024 | 300,000 | 816,493 | 1,735,000 | 114,600 | 2,966,093 | | | 2023 | 300,000 | 808,653 | 1,613,000 | 102,441 | 2,824,094 | | Christopher J. Krein | 2025 | 300,000 | 1,003,220 | 1,725,250 | 61,696 | 3,090,166 | | | 2024 | 300,000 | 995,754 | 1,675,000 | 60,169 | 3,030,923 | | | 2023 | 300,000 | 889,048 | 1,650,000 | 56,060 | 2,895,108 | | Eileen L. Kwei | 2025 | 300,000 | 706,070 | 1,512,000 | 63,527 | 2,581,597 | | | 2024 | 300,000 | 697,045 | 1,340,000 | 60,247 | 2,397,292 | | | 2023 | 300,000 | 622,854 | 1,250,000 | 58,621 | 2,231,475 | | Samuel B. Sellers | 2025 | 300,000 | 688,131 | 1,648,500 | 60,370 | 2,697,001 | | (1) Represents equity awarded with respect to each of fiscal years 2025, 2024 and 2023. Equity awards granted to the NEOs in January 2026 with respect to 2025 consisted of a 50/50 mix of standard restricted shares and career shares. Ms. Kwei and Mr. Sellers each received $100,000 of Class B partnership units of Artisan Partners Holdings LP, which proportionately reduced the amount of standard restricted shares they otherwise would have received. | | | | | | |
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| Year | Summary Compensation Table Total for PEO | | Compensation Actually Paid to PEO | | Average Summary Compensation Table Total for Non-PEO NEOs ($) (1) | Average Compensation Actually Paid to Non-PEO NEOs ($) (2) | Value of Initial Fixed $100 Investment Based on: | | Net Income ($M) | Company-Selected Measure: Revenue ($M) | | | Eric Colson ($) (1) | Jason Gottlieb ($) (1) | Eric Colson ($) (2) | Jason Gottlieb ($) (2) | | | Total Shareholder Return ("TSR") ($) (3) | Peer Group TSR ($) (3) | | | | 2025 | 7,244,256 | 5,482,136 | 7,521,460 | 5,714,237 | 2,836,922 | 2,909,715 | 121.69 | 196.10 | 290.3 | 1,196.7 | | 2024 | 6,789,609 | — | 7,266,233 | — | 3,368,892 | 3,588,347 | 118.46 | 186.85 | 259.7 | 1,111.8 | | 2023 | 6,670,285 | — | 10,281,051 | — | 3,227,448 | 4,759,834 | 113.03 | 135.39 | 222.3 | 975.1 | | 2022 | 6,756,387 | — | 4,298,330 | — | 3,481,157 | 2,468,774 | 70.56 | 110.22 | 206.8 | 993.3 | | 2021 | 8,106,549 | — | 7,877,028 | — | 3,671,354 | 3,603,201 | 102.7 | 140.62 | 336.5 | 1,227.2 |