Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-06-23

Federated Hermes (FHI)

Fiscal year 2025 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.

$7,982,105
J. Christopher Donahue total, FY2025
25th
CEO pay percentile vs peers
CEO-to-median pay ratio
Say-on-pay support, latest vote
Companies that benchmark against FHI
11 companies name FHI as a compensation peer

Each company listed discloses FHI 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 FHI in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.

01

Summary Compensation Table — fiscal year 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
J. Christopher Donahue$787,500$0$2,528,259$0$3,937,500$0$728,846$7,982,105
President and Chief Executive Officer
Paul A. Uhlman635,00001,816,49004,000,0000400,9056,852,395
Vice President and President, Federated Securities Corp.
John B. Fisher635,0000816,48004,650,0000476,6256,578,105
Vice President and President and Chief Executive Officer, Federated Advisory Companies
Theodore W. Zierden, III400,00001,218,83501,720,0000156,0483,494,883
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 officerFY2025 totalFY2024 totalFY2023 totalΔ FY20242025
J. Christopher Donahue$7,982,105$7,044,500$6,307,040+937,605
Paul A. Uhlman6,852,395
John B. Fisher6,578,105
Theodore W. Zierden, III3,494,883

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

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
Joseph C. BartolacciDirector2026-05-01A2,000$0$0CommonForm 4 ↗
Marie Milie JonesDirector2026-05-01A2,00000CommonForm 4 ↗
Karen L. HanlonDirector2026-05-01A2,00000CommonForm 4 ↗
Paul A. UhlmanVice President2026-05-04A40,00000CommonForm 4 ↗
Bryan M. BurkeVice President2026-05-04A35,00000CommonForm 4 ↗
Bryan M. BurkeVice President2026-05-07D4,00054216,806CommonForm 4 ↗
Peter J. GermainEVP, CLO & Sec.2026-05-15D5,00054271,477CommonForm 4 ↗
Thomas R. DonahueDirector2026-05-18D31,20000CommonForm 4 ↗
Peter J. GermainEVP, CLO & Sec.2026-05-26D4095522,622CommonForm 4 ↗
Paul A. UhlmanVice President2026-05-26D1,0215556,466CommonForm 4 ↗
Saker Anwar NusseibehCEO, Federated Hermes Limited2026-06-08D8,95057513,170CommonForm 4 ↗
Paul A. UhlmanVice President2026-06-16D6,14559360,524CommonForm 4 ↗
Van Meter StephenVP, Chief Compliance Officer2026-06-23D1,68260100,314CommonForm 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 2025

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
J. Christopher Donahue43,982$1,711,779
Paul A. Uhlman25,6941,000,010
J. Christopher Donahue18,000816,480
Thomas R. Donahue18,000816,480
John B. Fisher18,000816,480
Theodore W. Zierden, III10,338402,355
Thomas R. Donahue36,2741,411,784
Paul A. Uhlman18,000816,480
Theodore W. Zierden, III18,000816,480
03b

Vehicle mix — grant-date fair value by award type

Grant-level vehicle detail not disclosed.

% 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
John B. FisherRSU119,750$6,235,383
DonahueRSU28,0511,460,616
Paul A. UhlmanRSU25,6941,337,887
DonahueRSU23,1581,205,837
Theodore W. Zierden, IIIRSU10,338538,300
DonahueRSU6,475337,153
Theodore W. Zierden, IIIRSU4,500234,315
Theodore W. Zierden, IIIRSU2,722141,735
Theodore W. Zierden, IIIRSU2,000104,140
Theodore W. Zierden, IIIRSU14,250741,998
DonahueRSU135,7147,066,629
DonahueRSU9,694504,767
DonahueRSU43,9822,290,143
Theodore W. Zierden, IIIRSU3,000156,210
Paul A. UhlmanRSU221,48411,532,672
Paul A. UhlmanRSU16,309849,210
John B. FisherRSU15,725818,801
John B. FisherRSU16,650866,966
John B. FisherRSU8,325433,483
DonahueRSU15,725818,801
John B. FisherRSU9,250481,648
Paul A. UhlmanRSU16,650866,966
DonahueRSU7,400385,318
Theodore W. Zierden, IIIRSU76,3543,975,753
John B. FisherRSU18,000937,260
Paul A. UhlmanRSU14,800770,636
DonahueRSU9,250481,648
DonahueRSU5,550288,989
Paul A. UhlmanRSU10,281535,332
Theodore W. Zierden, IIIRSU6,394332,936
DonahueRSU16,650866,966
Theodore W. Zierden, IIIRSU4,250221,298
Theodore W. Zierden, IIIRSU4,000208,280
Theodore W. Zierden, IIIRSU2,700140,589
Paul A. UhlmanRSU9,250481,648
Paul A. UhlmanRSU17,575915,130
Paul A. UhlmanRSU7,400385,318
Paul A. UhlmanRSU6,475337,153
Paul A. UhlmanRSU8,325433,483
John B. FisherRSU7,400385,318
John B. FisherRSU17,575915,130
John B. FisherRSU14,800770,636
Theodore W. Zierden, IIIRSU18,000937,260
DonahueRSU18,000937,260
Paul A. UhlmanRSU15,725818,801
DonahueRSU17,575915,130
DonahueRSU14,800770,636
Paul A. UhlmanRSU15,000781,050
John B. FisherRSU6,475337,153
Theodore W. Zierden, IIIRSU2,100109,347
Paul A. UhlmanRSU18,000937,260
Paul A. UhlmanRSU2,100109,347
DonahueRSU8,325433,483
DonahueRSU188,8769,834,773
DonahueRSU36,2741,888,787
Paul A. UhlmanRSU25,0001,301,750
05

Incentive-plan design — the Compensation Discussion & Analysis

Federated Hermes compensation programs across the Company are designed to attract, retain and incentivize talented and qualified individuals. Federated Hermes endeavors to reward individual contribution, as demonstrated by the delivery of long-term continuing results.

CEO STI target (% of salary)
CEO LTI target (% of salary)
Independent consultantMcLagan Partners, Inc.
Clawback policyTrue
Anti-hedgingTrue
Anti-pledgingTrue
07

CEO pay ratio

Ratio (CEO : median employee)
CEO total compensation
Median employee compensation
08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Marie Milie JonesIndependent · Lead Independent Director · Compensation · Audit (Chair)$82,500$96,240$0$0$806$179,546
Karen L. HanlonIndependent · Compensation · Audit82,50096,24000530179,270
Joseph C. BartolacciIndependent · Compensation (Chair) · Audit77,50096,24000938174,678
John B. FisherEmployee director00000
J. Christopher DonahueEmployee director · Board Chair00000
Thomas R. DonahueEmployee director00000
09

Board fee structure and ownership guideline

Annual cash retainer
Annual equity retainer
Per board meeting fee
Committee chair fees (audit / comp / nom-gov)10,000
Stock ownership guideline
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$242,500
Equity awards (grant-date value)$288,720
All other compensation$2,274
Total cost of the board$533,494

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 Federated Hermes 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 Federated Hermes.

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
1BlackRock, Inc.2025Laurence Fink$1,500,000$24,600,184$0$0$37,749,569
2Janus Henderson Group PLC2025Ali Dibadj725,00027,665,1150035,038,727
3T. Rowe Price Group, Inc.2025Robert Sharps350,0008,401,68908,401,50017,245,792
4Affiliated Managers Group, Inc.2025Jay Horgen750,0008,967,00006,525,00016,311,950
5Invesco Ltd.2025Andrew Schlossberg750,00010,084,90305,321,25016,299,849
6Victory Capital Management2025David Brown600,0009,819,944016,198,444
7Federated Hermes2025J. Christopher Donahue787,5002,528,25903,937,5007,982,105
8Virtus Investment Partners2025George Aylward650,0003,200,00002,442,0006,309,500
9Artisan Partners2025Jason Gottlieb300,0001,548,40003,570,0005,482,136
AllianceBernstein Holding LPnot in coverage universe
Franklin Templetonnot 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
Federated Hermesnot disclosednot disclosednot disclosedMcLagan Partners, Inc.
Affiliated Managers Group, Inc.134%PSU 75 · RSU 25NoSemler Brossy Consulting Group, LLC
AllianceBernstein Holding LPnot disclosednot disclosednot disclosednot disclosed
Artisan Partnersnot disclosedRSU 100not disclosedMcLagan
BlackRock, Inc.not disclosedPSU 74 · RSU 26NoSemler Brossy
Franklin Templetonnot disclosednot disclosednot disclosednot disclosed
Invesco Ltd.129%PSU 60 · RSU 40Yes — Relative TSRJohnson Associates
Janus Henderson Group PLCnot disclosedPSU 60 · RSU 40NoMeridian Compensation Partners
T. Rowe Price Group, Inc.not disclosedRSU 50 · PRSU 50not disclosednot disclosed
Victory Capital Managementnot disclosedRSU 100not disclosedAon McLagan
Virtus Investment Partners76%PSU 50 · RSU 50Yes — Relative TSRMercer

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.

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, J. Christopher DonahueDEF 14A2026-03-170001056288-26-000009Section “2025 SUMMARY COMPENSATION TABLE” · page 21. As printed: 7,982,105. Filing ↗machine: r5 · c27 · span 201784–201793
2Section 01, Paul A. UhlmanDEF 14A2026-03-170001056288-26-000009Section “2025 SUMMARY COMPENSATION TABLE” · page 21. As printed: 6,852,395. Filing ↗machine: r11 · c27 · span 222499–222508
3Section 01, John B. FisherDEF 14A2026-03-170001056288-26-000009Section “2025 SUMMARY COMPENSATION TABLE” · page 21. As printed: 6,578,105. Filing ↗machine: r8 · c27 · span 215609–215618
4Section 01, Theodore W. Zierden, IIIDEF 14A2026-03-170001056288-26-000009Section “2025 SUMMARY COMPENSATION TABLE” · page 21. As printed: 3,494,883. Filing ↗machine: t7 · r14 · c7 · span 229529–229538
5Section 03, J. Christopher Donahue DEF 14A2026-03-170001056288-26-000009Section “2025 GRANTS OF PLAN-BASED AWARDS TABLE” · grants of plan-based awards table. Filing ↗machine: t8 · r3 · c10 · span 248494–248503
6Section 03, Paul A. Uhlman DEF 14A2026-03-170001056288-26-000009Section “2025 GRANTS OF PLAN-BASED AWARDS TABLE” · grants of plan-based awards table. Filing ↗machine: t8 · r11 · c10 · span 259540–259549
7Section 03, J. Christopher Donahue DEF 14A2026-03-170001056288-26-000009Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t8 · r4 · c6 · span 249481–249487
8Section 03, Thomas R. Donahue DEF 14A2026-03-170001056288-26-000009Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t8 · r7 · c6 · span 253735–253741
9Section 03, John B. Fisher DEF 14A2026-03-170001056288-26-000009Section “2025 GRANTS OF PLAN-BASED AWARDS TABLE” · grants of plan-based awards table. Filing ↗machine: t8 · r9 · c10 · span 256857–256864
10Section 03, Theodore W. Zierden, III DEF 14A2026-03-170001056288-26-000009Section “2025 GRANTS OF PLAN-BASED AWARDS TABLE” · grants of plan-based awards table. Filing ↗machine: t8 · r14 · c10 · span 263493–263500
11Section 03, Thomas R. Donahue DEF 14A2026-03-170001056288-26-000009Section “2025 GRANTS OF PLAN-BASED AWARDS TABLE” · grants of plan-based awards table. Filing ↗machine: t8 · r6 · c10 · span 252703–252712
12Section 03, Paul A. Uhlman DEF 14A2026-03-170001056288-26-000009Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t8 · r12 · c6 · span 260572–260578
13Section 03, Theodore W. Zierden, III DEF 14A2026-03-170001056288-26-000009Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗
14Section 07, pay ratio10-K2026-02-270001056288-26-000007Section “CEO Pay Ratio”. As printed: —. Filing ↗
15Section 08, Marie Milie JonesDEF 14A2026-03-170001056288-26-000009Section “Director Compensation”. As printed: 179,546. Filing ↗machine: t6 · r5 · c4 · span 153559–153566
16Section 08, Karen L. HanlonDEF 14A2026-03-170001056288-26-000009Section “Director Compensation”. As printed: 179,270. Filing ↗machine: t6 · r4 · c4 · span 151741–151748
17Section 08, Joseph C. BartolacciDEF 14A2026-03-170001056288-26-000009Section “Director Compensation”. As printed: 174,678. Filing ↗machine: t6 · r3 · c4 · span 150085–150092
18Section 08, John B. FisherDEF 14A2026-03-170001056288-26-000009Section “Director Compensation”. As printed: 0. Filing ↗
19Section 08, J. Christopher DonahueDEF 14A2026-03-170001056288-26-000009Section “Director Compensation”. As printed: 0. Filing ↗
20Section 08, Thomas R. DonahueDEF 14A2026-03-170001056288-26-000009Section “Director Compensation”. As printed: 0. Filing ↗
21Section 02, Joseph C. Bartolacci 2026-05-01Form 42026-05-040001193125-26-203954Insider equity transaction reported since the proxy statement. Filing ↗
22Section 02, Marie Milie Jones 2026-05-01Form 42026-05-040001193125-26-203958Insider equity transaction reported since the proxy statement. Filing ↗
23Section 02, Karen L. Hanlon 2026-05-01Form 42026-05-040001193125-26-203957Insider equity transaction reported since the proxy statement. Filing ↗
24Section 02, Paul A. Uhlman 2026-05-04Form 42026-05-040001193125-26-203956Insider equity transaction reported since the proxy statement. Filing ↗
25Section 02, Bryan M. Burke 2026-05-04Form 42026-05-040001193125-26-203955Insider equity transaction reported since the proxy statement. Filing ↗
26Section 02, Bryan M. Burke 2026-05-07Form 42026-05-080001193125-26-214897Insider equity transaction reported since the proxy statement. Filing ↗
27Section 02, Peter J. Germain 2026-05-15Form 42026-05-150001193125-26-226869Insider equity transaction reported since the proxy statement. Filing ↗
28Section 02, Thomas R. Donahue 2026-05-18Form 42026-05-180001193125-26-228877Insider equity transaction reported since the proxy statement. Filing ↗
29Section 02, Peter J. Germain 2026-05-26Form 42026-05-260001193125-26-239242Insider equity transaction reported since the proxy statement. Filing ↗
30Section 02, Paul A. Uhlman 2026-05-26Form 42026-05-260001193125-26-239241Insider equity transaction reported since the proxy statement. Filing ↗
31Section 02, Saker Anwar Nusseibeh 2026-06-08Form 42026-06-090001193125-26-263721Insider equity transaction reported since the proxy statement. Filing ↗
32Section 02, Paul A. Uhlman 2026-06-16Form 42026-06-170001193125-26-274129Insider equity transaction reported since the proxy statement. Filing ↗
33Section 02, Van Meter Stephen 2026-06-23Form 42026-06-230001193125-26-279651Insider equity transaction reported since the proxy statement. Filing ↗
34Section 01 trend, Δ column (computed)ComputedcomputedΔ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
35Section 09b board cost (computed)ComputedcomputedCash 242,500 + equity 288,720 + all other 2,274 = 533,494, summed across the director compensation table rows.machine: formula: Σ = 533,494
36BlackRock, Inc., Section 10b CEO totalDEF 14A2026-04-100001308179-26-000262CEO total compensation as printed in BlackRock, Inc.'s own proxy. As printed: 37,749,569. Filing ↗machine: span 1984856–1984866
37Janus Henderson Group PLC, Section 10b CEO totalDEF 14A2026-04-170001308179-26-000293CEO total compensation as printed in Janus Henderson Group PLC's own proxy. As printed: 35,038,727. Filing ↗machine: t342 · r1 · c14 · span 863375–863385
38T. Rowe Price Group, Inc., Section 10b CEO totalDEF 14A2026-03-170001104659-26-028876CEO total compensation as printed in T. Rowe Price Group, Inc.'s own proxy. As printed: 17,245,792. Filing ↗machine: span 1474238–1474248
39Affiliated Managers Group, Inc., Section 10b CEO totalDEF 14A2026-04-170001628280-26-025798CEO total compensation as printed in Affiliated Managers Group, Inc.'s own proxy. As printed: 16,311,950. Filing ↗machine: span 1521708–1521718
40Invesco Ltd., Section 10b CEO totalDEF 14A2026-04-020001193125-26-140019CEO total compensation as printed in Invesco Ltd.'s own proxy. As printed: 16,299,849. Filing ↗machine: t223 · r2 · c27 · span 1030655–1030665
41Victory Capital Management, Section 10b CEO totalDEF 14A2026-03-270001193125-26-127653CEO total compensation as printed in Victory Capital Management's own proxy. As printed: 16,198,444. Filing ↗machine: r2 · c27 · span 1467226–1467236
42Federated Hermes (subject), Section 10b CEO totalDEF 14A2026-03-170001056288-26-000009CEO total compensation as printed in Federated Hermes's own proxy. As printed: 7,982,105. Filing ↗machine: r5 · c27 · span 201784–201793
43Virtus Investment Partners, Section 10b CEO totalDEF 14A2026-04-070001193125-26-145685CEO total compensation as printed in Virtus Investment Partners's own proxy. As printed: 6,309,500. Filing ↗machine: r2 · c34 · span 636369–636378
44Artisan Partners, Section 10b CEO totalDEF 14A2026-04-170001517302-26-000079CEO total compensation as printed in Artisan Partners's own proxy. As printed: 5,482,136. Filing ↗machine: t65 · r2 · c9 · span 617510–617519
45Section 10a, Janus Henderson Group PLC reciprocityDEF 14A0001308179-26-000293Janus Henderson Group PLC names Federated Hermes in its own disclosed peer group (read from its most recent proxy). Filing ↗
46Section 10a, T. Rowe Price Group, Inc. reciprocityDEF 14A0001104659-26-028876T. Rowe Price Group, Inc.'s most recent proxy was read; its disclosed peer group does not include Federated Hermes. Filing ↗
47Section 10a, Invesco Ltd. reciprocityDEF 14A0001193125-26-140019Invesco Ltd.'s most recent proxy was read; its disclosed peer group does not include Federated Hermes. Filing ↗
48Section 10a, Victory Capital Management reciprocityDEF 14A0001193125-26-127653Victory Capital Management names Federated Hermes in its own disclosed peer group (read from its most recent proxy). Filing ↗
49Section 10a, Artisan Partners reciprocityDEF 14A0001517302-26-000079Artisan Partners names Federated Hermes in its own disclosed peer group (read from its most recent proxy). Filing ↗
50Section 10a, Virtus Investment Partners reciprocityDEF 14A0001193125-26-145685Virtus Investment Partners names Federated Hermes in its own disclosed peer group (read from its most recent proxy). Filing ↗
51Section 10a, Affiliated Managers Group, Inc. reciprocityDEF 14A0001628280-26-025798Affiliated Managers Group, Inc. names Federated Hermes in its own disclosed peer group (read from its most recent proxy). Filing ↗
52Section 10a, BlackRock, Inc. reciprocityDEF 14A0001308179-26-000262BlackRock, Inc.'s most recent proxy was read; its disclosed peer group does not include Federated Hermes. Filing ↗