Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-10-14

Cboe Global Markets (CBOE)

CEO Craig Donohue was paid $18,347,037 in fiscal year 2025, the 61st percentile of its disclosed peer group (SEC filing 0001628280-26-022939 ↗): executive and director compensation, incentive-plan design, equity activity, and governance — every figure in this brief is traceable to its exact location in the company’s SEC filing — the document, the section, the page, and the table, linked directly.

$18,347,037
Craig Donohue total, FY2025
61st
CEO pay percentile vs peers
102:1
CEO-to-median pay ratio
92.36%
Say-on-pay support, latest vote

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Sample answer — “What is the CEO’s total compensation?”
- Fredric Tomczyk (Former Chief Executive Officer), FY2025 total compensation $11,666,184 (base salary $500,000) [exec_comp, SEC accession 0001628280-26-022939, filed 2026-04-02]

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CBOE's next annual pay disclosure, estimated April 1, 2027.est. Filing ↗

01

Summary Compensation Table — fiscal year 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Craig Donohue$846,970$0$14,742,574$0$2,553,699$0$203,795$18,347,037
Chief Executive Officer and President
Fredric Tomczyk500,00009,350,02801,513,7050302,45111,666,184
Former Chief Executive Officer
David Howson366,95105,499,7500—0155,8426,022,543
Former Executive Vice President, Global President
Christopher Isaacson650,00002,661,14701,803,7500170,1005,284,997
Executive Vice President, Chief Operating Officer
Jill Griebenow500,00002,645,95201,202,5000116,7824,465,234
Executive Vice President, Chief Financial Officer
Catherine Clay395,83302,537,6830—0106,8723,040,388
Former Executive Vice President, Head of Global Derivatives
Patrick Sexton450,00001,398,7470999,000082,9222,930,669
Executive Vice President, General Counsel and Corporate Secretary
Timothy Lipscomb456,5830794,3260823,967095,3142,170,190
Executive Vice President, Chief Technology Officer

A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.

Three-year trend — total compensation per named executive

Named executive officerFY2025 totalFY2024 totalFY2023 totalΔ FY2024→2025
Craig Donohue$18,347,037———
Fredric Tomczyk11,666,1843,325,4198,366,510↑ +8,340,765
David Howson6,022,5436,506,6694,956,256↓ −484,126
Christopher Isaacson5,284,9974,713,3614,074,256↑ +571,636
Jill Griebenow4,465,2343,722,3012,153,906↑ +742,933
Catherine Clay3,040,3882,334,6422,411,259↑ +705,746
Patrick Sexton2,930,6692,593,9722,175,303↑ +336,697
Timothy Lipscomb2,170,190———

Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.

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Companies that benchmark against CBOE
7 companies name CBOE as a compensation peer

Each company listed discloses CBOE in its own benchmarking peer group, as disclosed in each company's most recent proxy statement within the last two proxy seasons. Two companies are therefore absent by design: one that named CBOE in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.

01b

Executives — the named officers

One page per officer: the same table above, read for one person at a time — his own figure and every fiscal year the register holds.

ExecutiveRoleFY2025 total
Catherine ClayExecutive$3,040,388
Christopher IsaacsonCOO$5,284,997
Craig DonohueCEO$18,347,037
David HowsonPresident$6,022,543
Jill GriebenowCFO$4,465,234
Patrick SextonGeneral Counsel$2,930,669
Timothy LipscombCTO$2,170,190
Fredric TomczykCEO$11,666,184
01c

Board of directors

One page per director: the seat, the committees and the fee table, read for one person at a time.

DirectorRoleFY2025 total
Alexander J. Matturri, JrIndependent Director$333,403
Cecilia H. MaoIndependent Director$298,590
Edward J. FitzpatrickIndependent Director$306,403
Erin A. MansfieldIndependent Director$313,425
Ivan K. FongIndependent Director$303,590
James E. ParisiIndependent Director$355,090
Janet P. FroetscherIndependent Director$323,356
Jennifer J. McPeekIndependent Director$284,090
Jill R. GoodmanIndependent Director$300,590
Roderick A. PalmoreIndependent Director$325,590
William M. Farrow, IIIChair of the Board$463,216
02

Equity transactions since the proxy statement was filed

Every insider equity transaction reported on Form 4 after the 2025 proxy statement — acquisitions, dispositions, exercises, and withholdings — and therefore not reflected in any table in that document.

InsiderRoleTransaction dateCodeSharesPriceValueSecuritySource
Erin A. MansfieldDirector2026-05-14A530$0$0CommonForm 4 ↗
Jill R. GoodmanDirector2026-05-14A53000CommonForm 4 ↗
Fredric J. TomczykDirector2026-05-14A53000CommonForm 4 ↗
James E. ParisiDirector2026-05-14A53000CommonForm 4 ↗
Jennifer J. McPeekDirector2026-05-14A53000CommonForm 4 ↗
Cecilia H. MaoDirector2026-05-14A53000CommonForm 4 ↗
Janet P. FroetscherDirector2026-05-14A53000CommonForm 4 ↗
Ivan K. FongDirector2026-05-14A53000CommonForm 4 ↗
Edward J. FitzpatrickDirector2026-05-14A53000CommonForm 4 ↗
William M. Farrow, IIIDirector2026-05-14A53000CommonForm 4 ↗
Roderick A. PalmoreDirector2026-05-14A53000CommonForm 4 ↗
Janet P. FroetscherDirector2026-05-18D1,223358437,944CommonForm 4 ↗
Dividend-equivalent accruals2026-05-19—166——1 insider, 1 accrual row
Fredric J. TomczykDirector2026-07-01D33724883,482CommonForm 4 ↗
Janet P. FroetscherDirector2026-08-12D937279261,376CommonForm 4 ↗
Dividend-equivalent accruals2026-08-19—5,304——2 insiders, 4 accrual rows
Fredric J. TomczykDirector2026-10-12D14,81800Derivative, Class A CommonForm 4 ↗
Fredric J. TomczykDirector2026-10-12D14,8182974,406,577CommonForm 4 ↗
Fredric J. TomczykDirector2026-10-12A14,8182974,406,577CommonForm 4 ↗

Transaction codes per Form 4: A acquisition · S open-market sale · F tax withholding · M option exercise · G gift. Value = shares × price as reported. Dividend-equivalent and fractional-share accrual rows (derivative Class A, under $10,000 and under 2,000 shares) are aggregated per date; every row appears in full below.

View all 22 transactions
InsiderRoleTransaction dateCodeSharesPriceValueSecuritySource
Erin A. MansfieldDirector2026-05-14A530$0$0CommonForm 4 ↗
Jill R. GoodmanDirector2026-05-14A53000CommonForm 4 ↗
Fredric J. TomczykDirector2026-05-14A53000CommonForm 4 ↗
James E. ParisiDirector2026-05-14A53000CommonForm 4 ↗
Jennifer J. McPeekDirector2026-05-14A53000CommonForm 4 ↗
Cecilia H. MaoDirector2026-05-14A53000CommonForm 4 ↗
Janet P. FroetscherDirector2026-05-14A53000CommonForm 4 ↗
Ivan K. FongDirector2026-05-14A53000CommonForm 4 ↗
Edward J. FitzpatrickDirector2026-05-14A53000CommonForm 4 ↗
William M. Farrow, IIIDirector2026-05-14A53000CommonForm 4 ↗
Roderick A. PalmoreDirector2026-05-14A53000CommonForm 4 ↗
Janet P. FroetscherDirector2026-05-18D1,223358437,944CommonForm 4 ↗
Allen WilkinsonSVP, CHIEF ACCOUNTING OFFICER2026-05-19A16600Derivative, Class A CommonForm 4 ↗
Fredric J. TomczykDirector2026-07-01D33724883,482CommonForm 4 ↗
Janet P. FroetscherDirector2026-08-12D937279261,376CommonForm 4 ↗
Boudewijn DuinstraEVP, CHIEF RISK OFFICER2026-08-19A1,06900Derivative, Class A CommonForm 4 ↗
Boudewijn DuinstraEVP, CHIEF RISK OFFICER2026-08-19A1,33500Derivative, Class A CommonForm 4 ↗
Heidi FischerEVP, Equities and Spot Markets2026-08-19A1,11900Derivative, Class A CommonForm 4 ↗
Heidi FischerEVP, Equities and Spot Markets2026-08-19A1,78100Derivative, Class A CommonForm 4 ↗
Fredric J. TomczykDirector2026-10-12D14,81800Derivative, Class A CommonForm 4 ↗
Fredric J. TomczykDirector2026-10-12D14,8182974,406,577CommonForm 4 ↗
Fredric J. TomczykDirector2026-10-12A14,8182974,406,577CommonForm 4 ↗
03

Grants of plan-based awards — fiscal year 2025

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Timothy LipscombRSU2025-02-19——1,249—$262,602
Craig DonohueRSU2025-05-07——14,048—3,290,463
Fredric TomczykRSU2025-02-19——44,471—9,350,028
Patrick SextonPRSU—————1,398,747
Timothy LipscombRSU2025-02-19——1,250—187,263
Timothy LipscombRSU2025-07-15——376—45,526
Craig DonohueRSU2025-05-07——14,048—1,721,077
Craig DonohueRSU2025-05-07——12,808—2,461,762
Jill GriebenowRSU2025-02-19——5,590—633,427
Timothy LipscombRSU2025-07-15——376—69,327
Jill GriebenowRSU2025-02-19——5,589—1,175,087
Jill GriebenowRSU2025-02-19——5,590—837,438
Craig DonohueRSU2025-05-07——14,048—2,700,096
Craig DonohueRSU2025-05-07——12,808—1,569,159
Craig DonohueRSU2025-05-07——12,808—3,000,018
Timothy LipscombRSU2025-02-19——1,250—141,643
Christopher IsaacsonPRSU—————2,661,147
Catherine ClayPSU2025-07-15157314—62876,039
Catherine ClayRSU2025-07-15——627—146,687
Catherine ClayRSU2025-02-19——2,379—500,185
Catherine ClayRSU2025-02-19——3,568—750,172
Catherine ClayPSU2025-02-198921,784—3,568404,305
Catherine ClayPSU2025-02-198921,784—3,568534,522
David HowsonRSU2025-05-27——1,647—380,885
David HowsonRSU2025-05-27——1,379—318,908
David HowsonPSU2025-02-192,0444,088—8,176926,457
David HowsonPSU2025-02-192,0444,088—8,1761,224,847
Timothy LipscombRSU2025-07-15——376—87,965
David HowsonRSU2025-02-19——8,175—1,718,794
Catherine ClayPSU2025-07-15157314—628115,791
David HowsonPSU2025-05-272,3674,734—9,4681,094,785
David HowsonRSU2025-05-27——1,217—281,443
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Timothy Lipscomb$794,326$0$00.0%
Craig Donohue14,742,575000.0%
Fredric Tomczyk9,350,028000.0%
Jill Griebenow2,645,952000.0%
Catherine Clay1,397,0441,130,657044.7%
David Howson2,700,0303,246,089054.6%

% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.

04

Outstanding equity awards at fiscal year-end 2025

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Jill GriebenowRSU5,589—$1,402,839
Timothy LipscombRSU53,724—13,484,724
Catherine ClayPSU37,926—9,519,426
Fredric TomczykRSU32,896—8,256,896
Christopher IsaacsonRSU1,340—336,340
David HowsonPSU30,343—7,616,093
Fredric TomczykRSU14,818—3,719,318
Christopher IsaacsonRSU7,756—1,946,756
Craig DonohueRSU14,048—3,526,048
Craig DonohueRSU12,808—3,214,808
Jill GriebenowRSU5,590—1,403,090
Christopher IsaacsonRSU5,022—1,260,522
Jill GriebenowRSU4,956—1,243,956
Christopher IsaacsonRSU4,460—1,119,460
Christopher IsaacsonRSU4,459—1,119,209
Christopher IsaacsonRSU3,348—840,348
Jill GriebenowRSU3,304—829,304
Patrick SextonRSU3,042—763,542
Patrick SextonRSU2,706—679,206
Patrick SextonRSU2,640—662,640
Catherine ClayRSU2,503—628,253
Christopher IsaacsonRSU2,488—624,488
Jill GriebenowRSU2,022—507,522
Patrick SextonRSU1,821—457,071
Patrick SextonRSU1,804—452,804
Jill GriebenowRSU1,345—337,595
Timothy LipscombRSU1,250—313,750
Timothy LipscombRSU1,249—313,499
Craig DonohuePSU1,184—297,184
Timothy LipscombRSU1,090—273,590
Patrick SextonRSU976—244,976
Christopher IsaacsonRSU940—235,940
Catherine ClayRSU863—216,613
Timothy LipscombRSU796—199,796
Jill GriebenowRSU670—168,170
Patrick SextonRSU670—168,170
Jill GriebenowRSU653—163,903
Jill GriebenowRSU432—108,432
Timothy LipscombRSU376—94,376
Patrick SextonRSU252—63,252
Patrick SextonRSU251—63,001
Catherine ClayRSU239—59,989
05

Incentive-plan design — the Compensation Discussion & Analysis

Our executive compensation program is designed to attract and retain talented and dedicated executives who are instrumental in our achievement of key strategic business objectives. The program links a substantial portion of executive compensation to the achievement of pre-set corporate and individual performance goals, focusing executives on achieving critical corporate financial and strategic goals while positioning the business for sustained growth.

CEO STI target (% of salary)150%
CEO LTI target (% of salary)—
Independent consultantMeridian
Clawback policytrue
Anti-hedgingtrue
Anti-pledgingtrue
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-05-1478,374,6386,486,027627,00792.36%Passed
20252025-05-0676,990,3844,832,201560,33394.09%Passed
20242024-05-1665,969,46712,171,768348,65884.42%Passed
20232023-05-1175,502,9845,267,413407,81693.48%Passed
20222022-05-1276,049,8804,802,177367,25294.06%Passed
20212021-05-1373,306,2846,580,660900,08991.76%Passed

Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year's compensation.

Say-on-pay — history, company's computation

Meeting yearMeeting dateApproval — company's computation
20262026-05-1492.36%a
20252025-05-0694.09%b
20242024-05-1684.42%c

a. Voting standard not stated in the filing.

b. Approved under the standard stated in the filing — “Abstentions and broker non-votes will not be considered a vote cast either for or against any of the matters being presented in this proxy statement and will not impact the voting results.”.

c. Voting standard not stated in the filing.

Approval percentages are the company's own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.

07

CEO pay ratio

Ratio (CEO : median employee)102 : 1
CEO total compensation—
Median employee compensation—
08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
William M. Farrow, IIIIndependent · Board Chair · Audit · Executive · Finance and Strategy · Nominating and Governance$283,126$170,090$0$0$10,000$463,216
James E. ParisiIndependent · Audit (Chair) · Compensation and Human Capital · Executive165,000170,0900—20,000355,090
Alexander J. Matturri, JrIndependent · Audit · Executive · Finance and Strategy (Chair) · Not standing for re-election163,313170,09000—333,403
Roderick A. PalmoreIndependent · Compensation and Human Capital · Nominating and Governance · Executive · Finance and Strategy150,500170,0900—5,000325,590
Janet P. FroetscherIndependent · Compensation and Human Capital (Chair) · Risk · Executive138,266170,0900—15,000323,356
Erin A. MansfieldIndependent · Risk (Chair) · Audit · Nominating and Governance · Executive133,335170,0900—10,000313,425
Edward J. FitzpatrickIndependent · Finance and Strategy · Nominating and Governance · Risk126,313170,0900—10,000306,403
Ivan K. FongIndependent · Risk118,500170,0900—15,000303,590
Jill R. GoodmanIndependent · Compensation and Human Capital · Audit · Executive · Finance and Strategy · Nominating and Governance130,500170,0900——300,590
Cecilia H. MaoIndependent · Compensation and Human Capital · Finance and Strategy118,500170,0900—10,000298,590
Jennifer J. McPeekIndependent · Nominating and Governance (Chair) · Finance and Strategy · Audit114,000170,0900——284,090
Craig S. DonohueEmployee director · Executive · Newly elected000—00
Fredric J. TomczykEmployee director · Executive · Departed during FY000—00
09

Board fee structure and ownership guideline

Annual cash retainer$90,000
Annual equity retainer$170,000
Per board meeting fee$1,500
Committee chair fees (audit / comp / nom-gov)25,000 / 15,000 / 15,000
Stock ownership guideline$5
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$1,641,353
Equity awards (grant-date value)$1,870,990
All other compensation$95,000
Total cost of the board$3,607,343

Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.

10

Disclosed peer group — fiscal year 2025

The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.

10a

Peer reciprocity

Of the companies Cboe Global Markets names as compensation peers, which name it back in their own disclosed peer groups. A peer set the market reciprocates reads differently from one selected in a single direction.

Reciprocity shown where the peer's own current proxy has been read — each mark is cited in the register to that peer's filing. A dash means the peer's current proxy was read and names no reciprocal group including Cboe Global Markets.

10b

Chief executive pay against the peer group

Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company's own proxy statement.

RankCompanyFYChief executiveSalaryStock awardsOption awardsNon-equity incentiveTotal
1MSCI Inc.2025Henry A. Fernandez$1,000,000$4,380,024$25,220,304$1,346,950$33,320,590
2Nasdaq, Inc.2025Adena Friedman1,359,61617,491,32106,086,50925,014,550
3Equifax Inc.2025Mark Begor1,500,00014,993,1103,420,1302,737,63423,420,134
4CME Group Inc.2025Terrence Duffy2,000,00013,319,86007,128,83123,394,854
5Intercontinental Exchange, Inc.2025Jeffrey Sprecher1,395,83316,666,55304,050,00022,133,386
6Broadridge Financial Solutions, Inc.2026Timothy Gokey1,109,2456,737,5737,905,2951,933,46519,130,826
7Stifel Financial Corp.2025Ronald Kruszewski200,0008,880,0000018,908,297
8Cboe Global Markets2025Craig Donohue846,97014,742,57402,553,69918,347,037
9TransUnion2025Christopher Cartwright1,058,25012,665,14902,852,44716,731,398
10Virtu Financial, Inc.2025Aaron Simons850,0006,246,62501,065,25016,727,125
11Akamai Technologies, Inc.2025Tom Leighton115,954,1710015,954,172
12LPL Financial Holdings Inc.2025Richard Steinmeier900,00010,045,54203,591,00014,574,496
13Verisk Analytics, Inc.2025Lee Shavel1,000,0008,800,0862,199,8811,500,00013,540,847
14SEI Investments Company2025Ryan Hicke850,0002,150,0326,599,9422,200,00011,819,204
15Fortinet, Inc.2025Ken Xie597,00010,155,1020705,93711,458,039
16FactSet Research Systems Inc.2025F. Philip Snow775,0003,750,1623,750,0931,171,3769,460,930
17Jack Henry & Associates, Inc.2026Gregory Adelson762,5006,367,59501,267,1258,413,970
18MarketAxess Holdings Inc.2025Christopher Concannon750,0003,599,8811,208,6461,525,0007,101,027
19Euronet Worldwide, Inc.2025Michael Brown925,000001,850,0002,786,575
—Deutsche Borse AG——————not in coverage universe
—London Stock Exchange Group plc——————not in coverage universe

Each peer's compensation is from its most recently filed proxy; fiscal years differ by company. Each peer's figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.

10c

Incentive design against the same peers

CompanyAnnual incentive payoutLong-term vehicle mixPSU measures include TSRCompensation consultant
Cboe Global Marketsnot disclosedRSU 50 · PSU 50YesMeridian
Akamai Technologies, Inc.151.3%RSU 80 · PSU 20Yes — Relative TSR PerformanceCompensia, Inc.
Broadridge Financial Solutions, Inc.not disclosedPSU 50 · Options 50NoFW Cook
CME Group Inc.not disclosedPSU 50 · RSU 50Yes — TSR relative to the S&P 500Meridian Compensation Partners, LLC
Deutsche Borse AGnot disclosednot disclosednot disclosednot disclosed
Equifax Inc.not disclosedPSU 50 · Options 25 · RSU 25Yes — TSRFW Cook
Euronet Worldwide, Inc.200%PRSU 100NoFW Cook
FactSet Research Systems Inc.101%Options 50 · PSU 50NoMeridian Compensation Partners
Fortinet, Inc.103%RSU 50 · PSU 50Yes — Relative Total Stockholder Return (TSR) vs. S&P 500Compensia
Intercontinental Exchange, Inc.108%PSU 70 · RSU 30Yes — Company 3-Year TSR relative to S&P 500 3-Year TSRCompensation Advisory Partners (CAP)
Jack Henry & Associates, Inc.130.8%PSU 60 · RSU 40not disclosedMeridian Compensation Partners, LLC
London Stock Exchange Group plcnot disclosednot disclosednot disclosednot disclosed
LPL Financial Holdings Inc.133%PSU 70 · RSU 30Yes — TSR relative to Comparator GroupCompensation Consultant
MarketAxess Holdings Inc.86%PSU 50 · RSU 25 · Options 25NoFW Cook
MSCI Inc.96.21%not disclosedYes — Absolute TSR CAGRSemler Brossy
Nasdaq, Inc.149%not disclosedYes — TSR relative to S&P 500 companiesExequity
SEI Investments Company110%not disclosednot disclosedSemler Brossy Consulting Group, LLC
Stifel Financial Corp.not disclosednot disclosedNoCompensation Advisory Partners LLC
TransUnion154.0%RSU 50 · PSU 50Yes — Relative TSRFW Cook
Verisk Analytics, Inc.not disclosedPSU 60 · RSU 20 · Options 20Yes — Relative TSR versus S&P 500 Index constituentsFW Cook
Virtu Financial, Inc.not disclosednot disclosedNonot disclosed

Read from each company's Compensation Discussion and Analysis: annual incentive payout as a percentage of target, the disclosed long-term vehicle mix, whether performance-share measures include a total shareholder return component, and the retained compensation consultant. “Not disclosed” appears only where the company's filing does not state the item.

10d

Frequently asked questions

Who was the highest-paid executive at Cboe Global Markets in fiscal 2025?
As disclosed, Craig Donohue (Chief Executive Officer and President) was the highest-paid executive at Cboe Global Markets in fiscal 2025, with total compensation of $18,347,037.
How does Cboe Global Markets's chief executive pay compare to its disclosed peer group?
As disclosed, Craig Donohue's total compensation ranked at the 61st percentile of Cboe Global Markets's disclosed peer group.
What is Cboe Global Markets's CEO-to-median employee pay ratio?
As disclosed, Cboe Global Markets's CEO-to-median employee pay ratio was 102:1.
How did shareholders vote on Cboe Global Markets's executive compensation?
As disclosed, 92.36% of shareholders supported Cboe Global Markets's executive compensation in the latest say-on-pay vote.
How much does Cboe Global Markets spend in total on board compensation for fiscal 2025?
As disclosed, Cboe Global Markets reported total board compensation of $3,607,343 for fiscal 2025.

Answers are drawn only from the figures disclosed in this brief and cited to their location in the source filing. Where a figure required for an answer is not disclosed, that is stated rather than estimated.

11

Source register

Each figure's location is given both for the eye (section · page · table · row · column) and for a script (table/row/column index and exact character span in the filed document). Any figure can be independently confirmed against the source.

#SupportsDocumentFiledAccessionLocation in document
1Section 01, Craig DonohueDEF 14A2026-04-020001628280-26-022939Section “2025 Summary Compensation Table” · page 61. As printed: 18,347,037. Filing ↗machine: r2 · c14 · span 1788944–1788954
2Section 01, Fredric TomczykDEF 14A2026-04-020001628280-26-022939Section “2025 Summary Compensation Table” · page 61. As printed: 11,666,184. Filing ↗machine: r17 · c14 · span 1855553–1855563
3Section 01, David HowsonDEF 14A2026-04-020001628280-26-022939Section “2025 Summary Compensation Table” · page 61. As printed: 6,022,543. Filing ↗machine: r20 · c14 · span 1871924–1871933
4Section 01, Christopher IsaacsonDEF 14A2026-04-020001628280-26-022939Section “2025 Summary Compensation Table” · page 61. As printed: 5,284,997. Filing ↗machine: r8 · c14 · span 1813919–1813928
5Section 01, Jill GriebenowDEF 14A2026-04-020001628280-26-022939Section “2025 Summary Compensation Table” · page 61. As printed: 4,465,234. Filing ↗machine: r5 · c14 · span 1797177–1797186
6Section 01, Catherine ClayDEF 14A2026-04-020001628280-26-022939Section “2025 Summary Compensation Table” · page 61. As printed: 3,040,388. Filing ↗machine: r23 · c14 · span 1888238–1888247
7Section 01, Patrick SextonDEF 14A2026-04-020001628280-26-022939Section “2025 Summary Compensation Table” · page 61. As printed: 2,930,669. Filing ↗machine: r11 · c14 · span 1830267–1830276
8Section 01, Timothy LipscombDEF 14A2026-04-020001628280-26-022939Section “2025 Summary Compensation Table” · page 61. As printed: 2,170,190. Filing ↗machine: r14 · c14 · span 1847242–1847251
9Section 03, Timothy Lipscomb RSUDEF 14A2026-04-020001628280-26-022939Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t123 · r34 · c18 · span 2195495–2195502
10Section 03, Craig Donohue RSUDEF 14A2026-04-020001628280-26-022939Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t123 · r9 · c18 · span 2034987–2034996
11Section 03, Fredric Tomczyk RSUDEF 14A2026-04-020001628280-26-022939Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t123 · r37 · c18 · span 2215092–2215101
12Section 03, Patrick Sexton PRSUDEF 14A2026-04-020001628280-26-022939Section “Summary Compensation Table” · grants of plan-based awards table. Filing ↗machine: t118 · r11 · c8 · span 1827919–1827928
13Section 03, Timothy Lipscomb RSUDEF 14A2026-04-020001628280-26-022939Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t123 · r31 · c18 · span 2177347–2177354
14Section 03, Timothy Lipscomb RSUDEF 14A2026-04-020001628280-26-022939Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t123 · r32 · c18 · span 2183364–2183370
15Section 03, Craig Donohue RSUDEF 14A2026-04-020001628280-26-022939Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t123 · r5 · c18 · span 2009242–2009251
16Section 03, Craig Donohue RSUDEF 14A2026-04-020001628280-26-022939Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t123 · r8 · c18 · span 2028028–2028037
17Section 03, Jill Griebenow RSUDEF 14A2026-04-020001628280-26-022939Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t123 · r12 · c18 · span 2055395–2055402
18Section 03, Timothy Lipscomb RSUDEF 14A2026-04-020001628280-26-022939Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t123 · r33 · c18 · span 2189380–2189386
19Section 03, Jill Griebenow RSUDEF 14A2026-04-020001628280-26-022939Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t123 · r14 · c18 · span 2068272–2068281
20Section 03, Jill Griebenow RSUDEF 14A2026-04-020001628280-26-022939Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t123 · r13 · c18 · span 2061832–2061839
21Section 03, Craig Donohue RSUDEF 14A2026-04-020001628280-26-022939Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t123 · r6 · c18 · span 2015504–2015513
22Section 03, Craig Donohue RSUDEF 14A2026-04-020001628280-26-022939Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t123 · r7 · c18 · span 2021766–2021775
23Section 03, Craig Donohue RSUDEF 14A2026-04-020001628280-26-022939Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t123 · r10 · c18 · span 2041946–2041955
24Section 03, Timothy Lipscomb RSUDEF 14A2026-04-020001628280-26-022939Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t123 · r30 · c18 · span 2171389–2171396
25Section 03, Christopher Isaacson PRSUDEF 14A2026-04-020001628280-26-022939Section “Summary Compensation Table” · grants of plan-based awards table. Filing ↗machine: t118 · r8 · c8 · span 1811709–1811718
26Section 03, Catherine Clay PSUDEF 14A2026-04-020001628280-26-022939Section “Executive Compensation” · grants of plan-based awards table. Filing ↗
27Section 03, Catherine Clay RSUDEF 14A2026-04-020001628280-26-022939Section “Executive Compensation” · grants of plan-based awards table. Filing ↗
28Section 03, Catherine Clay RSUDEF 14A2026-04-020001628280-26-022939Section “Executive Compensation” · grants of plan-based awards table. Filing ↗
29Section 03, Catherine Clay RSUDEF 14A2026-04-020001628280-26-022939Section “Executive Compensation” · grants of plan-based awards table. Filing ↗
30Section 03, Catherine Clay PSUDEF 14A2026-04-020001628280-26-022939Section “Executive Compensation” · grants of plan-based awards table. Filing ↗
31Section 03, Catherine Clay PSUDEF 14A2026-04-020001628280-26-022939Section “Executive Compensation” · grants of plan-based awards table. Filing ↗
32Section 03, David Howson RSUDEF 14A2026-04-020001628280-26-022939Section “Executive Compensation” · grants of plan-based awards table. Filing ↗
33Section 03, David Howson RSUDEF 14A2026-04-020001628280-26-022939Section “Executive Compensation” · grants of plan-based awards table. Filing ↗
34Section 03, David Howson PSUDEF 14A2026-04-020001628280-26-022939Section “Executive Compensation” · grants of plan-based awards table. Filing ↗
35Section 03, David Howson PSUDEF 14A2026-04-020001628280-26-022939Section “Executive Compensation” · grants of plan-based awards table. Filing ↗
36Section 03, Timothy Lipscomb RSUDEF 14A2026-04-020001628280-26-022939Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t123 · r35 · c18 · span 2201872–2201878
37Section 03, David Howson RSUDEF 14A2026-04-020001628280-26-022939Section “Executive Compensation” · grants of plan-based awards table. Filing ↗
38Section 03, Catherine Clay PSUDEF 14A2026-04-020001628280-26-022939Section “Executive Compensation” · grants of plan-based awards table. Filing ↗
39Section 03, David Howson PSUDEF 14A2026-04-020001628280-26-022939Section “Executive Compensation” · grants of plan-based awards table. Filing ↗
40Section 03, David Howson RSUDEF 14A2026-04-020001628280-26-022939Section “Executive Compensation” · grants of plan-based awards table. Filing ↗
41Section 07, pay ratioDEF 14A2026-04-020001628280-26-022939Section “CEO Pay Ratio”. As printed: 102 : 1. Filing ↗machine: span 2827474–2827477
42Section 08, William M. Farrow, IIIDEF 14A2026-04-020001628280-26-022939Section “Director Compensation”. As printed: 463,216. Filing ↗machine: t49 · r2 · c8 · span 742685–743360
43Section 08, James E. ParisiDEF 14A2026-04-020001628280-26-022939Section “Director Compensation”. As printed: 355,090. Filing ↗machine: t49 · r12 · c8 · span 778312–778988
44Section 08, Alexander J. Matturri, JrDEF 14A2026-04-020001628280-26-022939Section “Director Compensation”. As printed: 333,403. Filing ↗machine: t49 · r9 · c8 · span 767615–768291
45Section 08, Roderick A. PalmoreDEF 14A2026-04-020001628280-26-022939Section “Director Compensation”. As printed: 325,590. Filing ↗machine: t49 · r11 · c8 · span 774761–775437
46Section 08, Janet P. FroetscherDEF 14A2026-04-020001628280-26-022939Section “Director Compensation”. As printed: 323,356. Filing ↗machine: t49 · r5 · c8 · span 753353–754028
47Section 08, Erin A. MansfieldDEF 14A2026-04-020001628280-26-022939Section “Director Compensation”. As printed: 313,425. Filing ↗machine: t49 · r7 · c8 · span 760474–761149
48Section 08, Edward J. FitzpatrickDEF 14A2026-04-020001628280-26-022939Section “Director Compensation”. As printed: 306,403. Filing ↗machine: t49 · r3 · c8 · span 746234–746909
49Section 08, Ivan K. FongDEF 14A2026-04-020001628280-26-022939Section “Director Compensation”. As printed: 303,590. Filing ↗machine: t49 · r4 · c8 · span 749806–750481
50Section 08, Jill R. GoodmanDEF 14A2026-04-020001628280-26-022939Section “Director Compensation”. As printed: 300,590. Filing ↗machine: t49 · r6 · c8 · span 756932–757607
51Section 08, Cecilia H. MaoDEF 14A2026-04-020001628280-26-022939Section “Director Compensation”. As printed: 298,590. Filing ↗machine: t49 · r8 · c8 · span 764055–764731
52Section 08, Jennifer J. McPeekDEF 14A2026-04-020001628280-26-022939Section “Director Compensation”. As printed: 284,090. Filing ↗machine: t49 · r10 · c8 · span 771196–771872
53Section 08, Craig S. DonohueDEF 14A2026-04-020001628280-26-022939Section “Director Compensation”. As printed: 0. Filing ↗
54Section 08, Fredric J. TomczykDEF 14A2026-04-020001628280-26-022939Section “Director Compensation”. As printed: 0. Filing ↗
55Section 02, Erin A. Mansfield 2026-05-14Form 42026-05-180002010072-26-000001Insider equity transaction reported since the proxy statement. Filing ↗
56Section 02, Jill R. Goodman 2026-05-14Form 42026-05-180001551825-26-000001Insider equity transaction reported since the proxy statement. Filing ↗
57Section 02, Fredric J. Tomczyk 2026-05-14Form 42026-05-180001350921-26-000002Insider equity transaction reported since the proxy statement. Filing ↗
58Section 02, James E. Parisi 2026-05-14Form 42026-05-180001307171-26-000002Insider equity transaction reported since the proxy statement. Filing ↗
59Section 02, Jennifer J. McPeek 2026-05-14Form 42026-05-180001582601-26-000002Insider equity transaction reported since the proxy statement. Filing ↗
60Section 02, Cecilia H. Mao 2026-05-14Form 42026-05-180002009173-26-000001Insider equity transaction reported since the proxy statement. Filing ↗
61Section 02, Janet P. Froetscher 2026-05-14Form 42026-05-180001493848-26-000003Insider equity transaction reported since the proxy statement. Filing ↗
62Section 02, Ivan K. Fong 2026-05-14Form 42026-05-180001342238-26-000001Insider equity transaction reported since the proxy statement. Filing ↗
63Section 02, Edward J. Fitzpatrick 2026-05-14Form 42026-05-180001454029-26-000003Insider equity transaction reported since the proxy statement. Filing ↗
64Section 02, William M. Farrow, III 2026-05-14Form 42026-05-180001341362-26-000003Insider equity transaction reported since the proxy statement. Filing ↗
65Section 02, Roderick A. Palmore 2026-05-14Form 42026-05-180001218964-26-000001Insider equity transaction reported since the proxy statement. Filing ↗
66Section 02, Janet P. Froetscher 2026-05-18Form 42026-05-200001493848-26-000004Insider equity transaction reported since the proxy statement. Filing ↗
67Section 02, Allen Wilkinson 2026-05-19Form 42026-05-210002010162-26-000003Insider equity transaction reported since the proxy statement. Filing ↗
68Section 02, Fredric J. Tomczyk 2026-07-01Form 42026-07-020001350921-26-000004Insider equity transaction reported since the proxy statement. Filing ↗
69Section 02, Janet P. Froetscher 2026-08-12Form 42026-08-140001493848-26-000005Insider equity transaction reported since the proxy statement. Filing ↗
70Section 02, Boudewijn Duinstra 2026-08-19Form 42026-08-210002149900-26-000003Insider equity transaction reported since the proxy statement. Filing ↗
71Section 02, Boudewijn Duinstra 2026-08-19Form 42026-08-210002149900-26-000003Insider equity transaction reported since the proxy statement. Filing ↗
72Section 02, Heidi Fischer 2026-08-19Form 42026-08-210002137016-26-000004Insider equity transaction reported since the proxy statement. Filing ↗
73Section 02, Heidi Fischer 2026-08-19Form 42026-08-210002137016-26-000004Insider equity transaction reported since the proxy statement. Filing ↗
74Section 02, Fredric J. Tomczyk 2026-10-12Form 42026-10-140001350921-26-000006Insider equity transaction reported since the proxy statement. Filing ↗
75Section 02, Fredric J. Tomczyk 2026-10-12Form 42026-10-140001350921-26-000006Insider equity transaction reported since the proxy statement. Filing ↗
76Section 02, Fredric J. Tomczyk 2026-10-12Form 42026-10-140001350921-26-000006Insider equity transaction reported since the proxy statement. Filing ↗
77Section 06, 2026 voteForm 8-K2026-05-180001104659-26-063250Item 5.07 · say-on-pay result. As reported: 92.36% (votes for as printed: 78,374,638). Filing ↗
78Section 06, 2025 voteForm 8-K2025-05-070001104659-25-045577Item 5.07 · say-on-pay result. As reported: 94.09% (votes for as printed: 76,990,384). Filing ↗
79Section 06, 2024 voteForm 8-K2024-05-200001558370-24-008477Item 5.07 · say-on-pay result. As reported: 84.42% (votes for as printed: 65,969,467). Filing ↗
80Section 01 trend, Δ column (computed)Computed——Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
81Section 03b vehicle mix (computed)Computed——RSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).machine: formula: sums + PSU ratio
82Section 09b board cost (computed)Computed——Cash 1,641,353 + equity 1,870,990 + all other 95,000 = 3,607,343, summed across the director compensation table rows.machine: formula: Σ = 3,607,343
83MSCI Inc., Section 10b CEO totalDEF 14A2026-03-110001408198-26-000023CEO total compensation as printed in MSCI Inc.'s own proxy. As printed: 33,320,590. Filing ↗machine: r2 · c24 · span 1659848–1659858
84Nasdaq, Inc., Section 10b CEO totalDEF 14A2026-04-240001628280-26-027245CEO total compensation as printed in Nasdaq, Inc.'s own proxy. As printed: 25,014,550. Filing ↗machine: r3 · c7 · span 2441886–2441897
85Equifax Inc., Section 10b CEO totalDEF 14A2026-03-270001193125-26-127556CEO total compensation as printed in Equifax Inc.'s own proxy. As printed: 23,420,134. Filing ↗machine: r2 · c44 · span 1228991–1229001
86CME Group Inc., Section 10b CEO totalDEF 14A2026-03-230001628280-26-020500CEO total compensation as printed in CME Group Inc.'s own proxy. As printed: 23,394,854. Filing ↗machine: span 1417602–1417612
87Intercontinental Exchange, Inc., Section 10b CEO totalDEF 14A2026-03-310001193125-26-134700CEO total compensation as printed in Intercontinental Exchange, Inc.'s own proxy. As printed: 22,133,386. Filing ↗machine: t89 · r5 · c16 · span 1344962–1344972
88Broadridge Financial Solutions, Inc., Section 10b CEO totalDEF 14A2026-09-290001140361-26-037937CEO total compensation as printed in Broadridge Financial Solutions, Inc.'s own proxy. As printed: 19,130,826. Filing ↗machine: r2 · c28 · span 1314972–1314983
89Stifel Financial Corp., Section 10b CEO totalDEF 14A2026-04-290001193125-26-191643CEO total compensation as printed in Stifel Financial Corp.'s own proxy. As printed: 18,908,297. Filing ↗machine: t238 · r3 · c23 · span 1013386–1013396
90Cboe Global Markets (subject), Section 10b CEO totalDEF 14A2026-04-020001628280-26-022939CEO total compensation as printed in Cboe Global Markets's own proxy. As printed: 18,347,037. Filing ↗machine: r2 · c14 · span 1788944–1788954
91TransUnion, Section 10b CEO totalDEF 14A2026-03-240001193125-26-121876CEO total compensation as printed in TransUnion's own proxy. As printed: 16,731,398. Filing ↗machine: r3 · c34 · span 858177–858187
92Virtu Financial, Inc., Section 10b CEO totalDEF 14A2026-04-290001104659-26-051774CEO total compensation as printed in Virtu Financial, Inc.'s own proxy. As printed: 16,727,125. Filing ↗machine: span 454007–454017
93Akamai Technologies, Inc., Section 10b CEO totalDEF 14A2026-03-310001086222-26-000042CEO total compensation as printed in Akamai Technologies, Inc.'s own proxy. As printed: 15,954,172. Filing ↗machine: span 583218–583228
94LPL Financial Holdings Inc., Section 10b CEO totalDEF 14A2026-04-020001193125-26-140066CEO total compensation as printed in LPL Financial Holdings Inc.'s own proxy. As printed: 14,574,496. Filing ↗machine: t313 · r3 · c29 · span 1887460–1887470
95Verisk Analytics, Inc., Section 10b CEO totalDEF 14A2026-04-030001193125-26-141398CEO total compensation as printed in Verisk Analytics, Inc.'s own proxy. As printed: 13,540,847. Filing ↗machine: r3 · c28 · span 887453–887463
96SEI Investments Company, Section 10b CEO totalDEF 14A2026-04-150000350894-26-000021CEO total compensation as printed in SEI Investments Company's own proxy. As printed: 11,819,204. Filing ↗machine: r2 · c7 · span 1080241–1080251
97Fortinet, Inc., Section 10b CEO totalDEF 14A2026-04-290002077096-26-000106CEO total compensation as printed in Fortinet, Inc.'s own proxy. As printed: 11,458,039. Filing ↗machine: r1 · c14 · span 1588404–1588414
98FactSet Research Systems Inc., Section 10b CEO totalDEF 14A2025-10-270001628280-25-046442CEO total compensation as printed in FactSet Research Systems Inc.'s own proxy. As printed: 9,460,930. Filing ↗machine: span 790783–790792
99Jack Henry & Associates, Inc., Section 10b CEO totalDEF 14A2026-10-020000779152-26-000088CEO total compensation as printed in Jack Henry & Associates, Inc.'s own proxy. As printed: 8,413,970. Filing ↗machine: r3 · c24 · span 559061–559070
100MarketAxess Holdings Inc., Section 10b CEO totalDEF 14A2026-04-290001193125-26-191601CEO total compensation as printed in MarketAxess Holdings Inc.'s own proxy. As printed: 7,101,027. Filing ↗machine: t49 · r4 · c22 · span 1439393–1439402
101Euronet Worldwide, Inc., Section 10b CEO totalDEF 14A2026-04-130001554855-26-000595CEO total compensation as printed in Euronet Worldwide, Inc.'s own proxy. As printed: 2,786,575. Filing ↗machine: span 581086–581095
102Section 10a, TransUnion reciprocityDEF 14A—0001193125-25-060241TransUnion's most recent proxy was read; its disclosed peer group does not include Cboe Global Markets. Filing ↗
103Section 10a, CME Group Inc. reciprocityDEF 14A—0001628280-26-020500CME Group Inc. names Cboe Global Markets in its own disclosed peer group (read from its most recent proxy). Filing ↗
104Section 10a, Broadridge Financial Solutions, Inc. reciprocityDEF 14A—0001140361-26-037937Broadridge Financial Solutions, Inc.'s most recent proxy was read; its disclosed peer group does not include Cboe Global Markets. Filing ↗
105Section 10a, Stifel Financial Corp. reciprocityDEF 14A—0001193125-26-191643Stifel Financial Corp.'s most recent proxy was read; its disclosed peer group does not include Cboe Global Markets. Filing ↗
106Section 10a, MarketAxess Holdings Inc. reciprocityDEF 14A—0001193125-26-191601MarketAxess Holdings Inc. names Cboe Global Markets in its own disclosed peer group (read from its most recent proxy). Filing ↗
107Section 10a, Verisk Analytics, Inc. reciprocityDEF 14A—0001193125-26-141398Verisk Analytics, Inc.'s most recent proxy was read; its disclosed peer group does not include Cboe Global Markets. Filing ↗
108Section 10a, Akamai Technologies, Inc. reciprocityDEF 14A—0001086222-26-000042Akamai Technologies, Inc.'s most recent proxy was read; its disclosed peer group does not include Cboe Global Markets. Filing ↗
109Section 10a, Fortinet, Inc. reciprocityDEF 14A—0002077096-26-000106Fortinet, Inc.'s most recent proxy was read; its disclosed peer group does not include Cboe Global Markets. Filing ↗
110Section 10a, Jack Henry & Associates, Inc. reciprocityDEF 14A—0000779152-26-000088Jack Henry & Associates, Inc.'s most recent proxy was read; its disclosed peer group does not include Cboe Global Markets. Filing ↗
111Section 10a, MSCI Inc. reciprocityDEF 14A—0001408198-26-000023MSCI Inc. names Cboe Global Markets in its own disclosed peer group (read from its most recent proxy). Filing ↗
112Section 10a, Virtu Financial, Inc. reciprocityDEF 14A—0001104659-25-037735Virtu Financial, Inc.'s most recent proxy was read; its disclosed peer group does not include Cboe Global Markets. Filing ↗
113Section 10a, LPL Financial Holdings Inc. reciprocityDEF 14A—0001193125-26-140066LPL Financial Holdings Inc.'s most recent proxy was read; its disclosed peer group does not include Cboe Global Markets. Filing ↗
114Section 10a, Nasdaq, Inc. reciprocityDEF 14A—0001628280-26-027245Nasdaq, Inc. names Cboe Global Markets in its own disclosed peer group (read from its most recent proxy). Filing ↗

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