Velarion · Company Intelligence
Compensation Brief
Fiscal year 2021 · Filings through 2024-01-03

Ebix Inc (EBIX)

CEO Robin Raina was paid $3,604,350 in fiscal year 2021, ↓ down 54.7% from fiscal year 2020 (SEC filing 0001104659-22-109688 ↗): 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.

$3,604,350 ↓
Robin Raina total, FY2021
—
CEO pay percentile vs peers
892:1
CEO-to-median pay ratio
55.53%
Say-on-pay support, latest vote

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01

Summary Compensation Table — fiscal year 2021

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Robin Raina$0$3,600,000$0$0$0$0$4,350$3,604,350
President, Chief Executive Officer and Chairman of the Board
Steven Hamil325,000150,000150,0000002,100627,100
Corporate Executive Vice President and Global Chief Financial Officer
Ash Sawhney300,000000004,154304,154
President-Insurance Solutions, North America
Leon d’Apice217,8800000016,259234,139
Managing Director- Ebix Australia Group
James Senge225,000000003,375228,375
Senior Vice President EbixHealth
Graham Prior80,78300000080,783
Corporate Senior Vice President

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 officerFY2021 totalFY2020 totalFY2019 totalΔ FY2020→2021
Robin Raina$3,604,350$7,960,000$6,207,584↓ −4,355,650
Steven Hamil627,100733,688—↓ −106,588
Ash Sawhney304,154———
Leon d’Apice234,139224,912234,356↑ +9,227
James Senge228,375228,375227,337↑ +0
Graham Prior80,783161,964159,863↓ −81,181

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 EBIX
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02

Equity transactions since the proxy statement was filed

Every insider equity transaction reported on Form 4 after the 2021 proxy statement — acquisitions, dispositions, exercises, and withholdings — and therefore not reflected in any table in that document.

InsiderRoleTransaction dateCodeSharesPriceValueSecuritySource
George W. Hebard IIIDirector2023-12-29A409,000$1$376,280CommonForm 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.

03

Grants of plan-based awards — fiscal year 2021

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Steven HamilRSU2021-05-19——5,527—$150,000
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Steven Hamil$150,000$0$00.0%

% 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 2021

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Steven HamilRSU20,743—$630,587
05

Incentive-plan design — the Compensation Discussion & Analysis

The Company's executive compensation program promotes a performance-based culture and aligns the interests of stockholders and executives through variable, at-risk compensation. The program is designed to attract and retain highly talented executives who are critical to the successful implementation of the Company's strategic plan, while mitigating against excessive risk.

CEO STI target (% of salary)—
CEO LTI target (% of salary)—
Independent consultantErnst & Young LLP
Clawback policytrue
Anti-hedgingfalse
Anti-pledgingfalse
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20222022-11-1612,559,79410,057,05926,69155.53%Passed
20212021-10-1411,934,90711,615,38561,45250.68%Passed
20202020-09-1413,282,51210,915,757541,49753.69%Passed
20192019-08-1516,811,0066,383,884290,61272.48%Passed
20172017-05-2413,296,50910,656,742205,72255.04%Passed
20162016-04-2918,528,7056,964,733138,51072.68%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
20222022-11-1655.53%a
20212021-10-1450.68%b
20202020-09-1453.69%c

a. Approved under the standard stated in the filing — “Abstentions will not affect the outcome of this proposal.”.

b. Approved under the standard stated in the filing — “Abstentions will not affect the outcome of this proposal.”.

c. Approved under the standard stated in the filing — “Abstentions will be considered as present and entitled to vote at the Annual Meeting and on the proposal but will not be voted "for" the proposal, and they will have the same effect as votes "against" the proposal.”.

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)892 : 1
CEO total compensation—
Median employee compensation—
08

Director compensation — fiscal year 2021

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Pavan BhallaIndependent · Audit (Chair) · Corporate Governance and Nominating$65,000—$93,193——$158,193
Hans Ueli KellerIndependent · Lead Independent Director · Audit · Compensation (Chair)49,000—93,193——142,193
Hans U. BenzIndependent · Audit · Compensation41,000—93,193——134,193
George W. Hebard IIIIndependent25,000—93,193——118,193
Rolf HerterIndependent · Corporate Governance and Nominating25,000—93,193——118,193
Neil D. EckertIndependent · Compensation · Corporate Governance and Nominating (Chair)25,000—93,193——118,193
Priyanka KaulIndependent · Newly elected16,667—93,193——109,860
Robin RainaEmployee director · Board Chair—————0
09

Board fee structure and ownership guideline

Annual cash retainer$25,000
Annual equity retainer$93,193
Per board meeting fee—
Committee chair fees (audit / comp / nom-gov)8,000 / 8,000
Stock ownership guideline—
09b

Total cost of the board

ComponentFY2021
Cash retainers and fees$246,667
Equity awards (grant-date value)$0
All other compensation$0
Total cost of the board$246,667

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

10

Disclosed peer group — fiscal year 2021

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

Recapture and Forfeiture Policies
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
1Ebix Inc2021Robin Raina$0$0$0$0$3,604,350

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.

10d

Frequently asked questions

Who was the highest-paid executive at Ebix Inc in fiscal 2021?
As disclosed, Robin Raina (President, Chief Executive Officer and Chairman of the Board) was the highest-paid executive at Ebix Inc in fiscal 2021, with total compensation of $3,604,350.
What is Ebix Inc's CEO-to-median employee pay ratio?
As disclosed, Ebix Inc's CEO-to-median employee pay ratio was 892:1.
How did shareholders vote on Ebix Inc's executive compensation?
As disclosed, 55.53% of shareholders supported Ebix Inc's executive compensation in the latest say-on-pay vote.
How much does Ebix Inc spend in total on board compensation for fiscal 2021?
As disclosed, Ebix Inc reported total board compensation of $246,667 for fiscal 2021.

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, Robin RainaDEF 14A2022-10-180001104659-22-109688Section “Executive Compensation”. As printed: 3,604,350. Filing ↗machine: r1 · c47 · span 312960–312969
2Section 01, Steven HamilDEF 14A2022-10-180001104659-22-109688Section “Executive Compensation”. As printed: 627,100. Filing ↗machine: r4 · c47 · span 327154–327161
3Section 01, Ash SawhneyDEF 14A2022-10-180001104659-22-109688Section “Executive Compensation”. As printed: 304,154. Filing ↗machine: r12 · c47 · span 364704–364711
4Section 01, Leon d’ApiceDEF 14A2022-10-180001104659-22-109688Section “Executive Compensation”. As printed: 234,139. Filing ↗machine: r9 · c47 · span 351062–351069
5Section 01, James SengeDEF 14A2022-10-180001104659-22-109688Section “Executive Compensation”. As printed: 228,375. Filing ↗machine: r13 · c47 · span 369928–369935
6Section 01, Graham PriorDEF 14A2022-10-180001104659-22-109688Section “Executive Compensation”. As printed: 80,783. Filing ↗machine: r6 · c47 · span 333492–333498
7Section 03, Steven Hamil RSUDEF 14A2022-10-180001104659-22-109688Section “Executive Compensation” · grants of plan-based awards table. Filing ↗
8Section 07, pay ratioDEF 14A2022-10-180001104659-22-109688Section “CEO Pay Ratio”. As printed: 892 : 1. Filing ↗machine: span 484601–484604
9Section 08, Pavan BhallaDEF 14A2022-10-180001104659-22-109688Section “Director Compensation”. As printed: 158,193. Filing ↗machine: span 164477–164484
10Section 08, Hans Ueli KellerDEF 14A2022-10-180001104659-22-109688Section “Director Compensation”. As printed: 142,193. Filing ↗machine: span 166564–166571
11Section 08, Hans U. BenzDEF 14A2022-10-180001104659-22-109688Section “Director Compensation”. As printed: 134,193. Filing ↗machine: span 168672–168679
12Section 08, George W. Hebard IIIDEF 14A2022-10-180001104659-22-109688Section “Director Compensation”. As printed: 118,193. Filing ↗machine: span 174953–174960
13Section 08, Rolf HerterDEF 14A2022-10-180001104659-22-109688Section “Director Compensation”. As printed: 118,193. Filing ↗machine: span 172864–172871
14Section 08, Neil D. EckertDEF 14A2022-10-180001104659-22-109688Section “Director Compensation”. As printed: 118,193. Filing ↗machine: span 170757–170764
15Section 08, Priyanka KaulDEF 14A2022-10-180001104659-22-109688Section “Director Compensation”. As printed: 109,860. Filing ↗machine: span 177063–177070
16Section 08, Robin RainaDEF 14A2022-10-180001104659-22-109688Section “Director Compensation”. As printed: 0. Filing ↗
17Section 02, George W. Hebard III 2023-12-29Form 42024-01-030000950170-24-000589Insider equity transaction reported since the proxy statement. Filing ↗
18Section 06, 2022 voteForm 8-K2022-11-160001193125-22-286845Item 5.07 · say-on-pay result. As reported: 55.53%. Filing ↗
19Section 06, 2021 voteForm 8-K2021-10-180001193125-21-300570Item 5.07 · say-on-pay result. As reported: 50.68%. Filing ↗
20Section 06, 2020 voteForm 8-K2020-09-140001193125-20-245174Item 5.07 · say-on-pay result. As reported: 53.69%. Filing ↗
21Section 01 trend, Δ column (computed)Computed——Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
22Section 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
23Section 09b board cost (computed)Computed——Cash 246,667 + equity 0 + all other 0 = 246,667, summed across the director compensation table rows.machine: formula: Σ = 246,667
24Ebix Inc (subject), Section 10b CEO totalDEF 14A2022-10-180001104659-22-109688CEO total compensation as printed in Ebix Inc's own proxy. As printed: 3,604,350. Filing ↗machine: r1 · c47 · span 312960–312969

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