Velarion · Company Intelligence
Compensation Brief
Fiscal year 2026 · Filings through 2026-09-18

Hamilton Lane INC (HLNE)

CEO Juan Delgado-Moreira was paid $2,691,533 in fiscal year 2026, ↓ down 96.6% from fiscal year 2025 (SEC filing 0001433642-26-000034 ↗): 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.

$3,461,693
Erik Hirsch total, FY2026
Co-Chief Executive Officer — highest-paid officer; CEO Juan Delgado-Moreira: $2,691,533
—
CEO (Juan Delgado-Moreira) pay percentile vs peers
26:1
CEO-to-median pay ratio
85.54%
Say-on-pay support, latest vote

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HLNE's next annual pay disclosure, estimated July 23, 2027.est. Filing ↗

01

Summary Compensation Table — fiscal year 2026

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Erik Hirsch$325,000$2,520,000————$616,693$3,461,693
Co-Chief Executive Officer
Andrea Anigati Kramer325,0001,905,108153,024———478,4782,861,610
Chief Operating Officer
Juan Delgado-Moreira320,5131,685,385————685,6352,691,533
Co-Chief Executive Officer
Jeffrey Armbrister325,0001,191,092153,024———97,3641,766,480
Chief Financial Officer
Lydia Gavalis325,000593,750102,066———28,9401,049,756
General Counsel and Secretary
Drew Carl325,000425,000102,066———8,793860,859
Chief Accounting 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 officerFY2026 totalFY2025 totalFY2024 totalΔ FY2025→2026
Erik Hirsch$3,461,693$80,221,476$3,897,893↓ −76,759,783
Andrea Anigati Kramer2,861,6104,842,3372,174,427↓ −1,980,727
Juan Delgado-Moreira2,691,53379,026,9112,855,804↓ −76,335,378
Jeffrey Armbrister1,766,4802,676,3091,350,121↓ −909,829
Lydia Gavalis1,049,7561,006,424963,199↑ +43,332
Drew Carl860,859658,480680,282↑ +202,379

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

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$3,461,693 Erik Hirsch total, FY2026

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Data as of September 18, 2026 · Source: 0001433642-26-000034 · Velarion Executive Compensation Database, deposited on Zenodo (doi:10.5281/zenodo.22283855).

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01c

Board of directors

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

DirectorRoleFY2026 total
David J. BerkmanIndependent Director$200,000
Leslie F. VaronIndependent Director$235,000
O. Griffith SextonIndependent Director$200,000
R. Vann GravesIndependent Director$200,000
02

Equity transactions since the proxy statement was filed

Every insider equity transaction reported on Form 4 after the 2026 proxy statement — acquisitions, dispositions, exercises, and withholdings — and therefore not reflected in any table in that document.

InsiderRoleTransaction dateCodeSharesPriceValueSecuritySource
Juan Delgado-MoreiraDirector2026-09-10A50,000$0$0CommonForm 4 ↗
Juan Delgado-MoreiraDirector2026-09-10D50,00000CommonForm 4 ↗
Michael SchmertzlerDirector2026-09-16A97700CommonForm 4 ↗
O. Griffith SextonDirector2026-09-16A1,95300CommonForm 4 ↗
Leslie F. VaronDirector2026-09-16A97700CommonForm 4 ↗
Andrea Anigati KramerChief Operating Officer2026-09-16D7369368,470CommonForm 4 ↗
Drew CarlChief Accounting Officer2026-09-16A2,22600Derivative, Class A CommonForm 4 ↗
Jeffrey ArmbristerChief Financial Officer2026-09-16A22,25200Derivative, Class A CommonForm 4 ↗
Jeffrey ArmbristerChief Financial Officer2026-09-16D3939336,561CommonForm 4 ↗
Andrea Anigati KramerChief Operating Officer2026-09-16A22,25200Derivative, Class A CommonForm 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 2026

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Drew CarlPSU2025-09-16—1,356——$102,066
Lydia GavalisPSU2025-09-16—1,356——102,066
Jeffrey ArmbristerPSU2025-09-16—2,033——153,024
Andrea Anigati KramerPSU2025-09-16—2,033——153,024
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Drew Carl$0$102,066$0100.0%
Lydia Gavalis0102,0660100.0%
Jeffrey Armbrister0153,0240100.0%
Andrea Anigati Kramer0153,0240100.0%

% 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 2026

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Jeffrey ArmbristerRSU1,204—$119,678
Andrea Anigati KramerRSU8,696—864,382
Lydia GavalisPSU2,174—216,096
Jeffrey ArmbristerPSU1,449—144,031
Drew CarlRSU1,356—134,786
Lydia GavalisRSU908—90,255
Andrea Anigati KramerRSU3,624—360,226
Jeffrey ArmbristerPSU2,033—202,080
Lydia GavalisRSU1,356—134,786
Jeffrey ArmbristerRSU2,899—288,161
Lydia GavalisRSU4,348—432,191
Drew CarlRSU268—26,639
Jeffrey ArmbristerRSU8,696—864,382
Andrea Anigati KramerRSU5,012—498,193
Andrea Anigati KramerPSU1,811—180,013
Jeffrey ArmbristerRSU410—40,754
Jeffrey ArmbristerPSU4,348—432,191
Andrea Anigati KramerPSU4,348—432,191
Drew CarlRSU330—32,802
Juan Delgado-MoreiraRSU3,718—320,513
Jeffrey ArmbristerRSU2,506—249,096
Andrea Anigati KramerRSU2,250—223,650
Lydia GavalisRSU810—80,514
Andrea Anigati KramerPSU2,033—202,080
Andrea Anigati KramerRSU1,766—175,540
Jeffrey ArmbristerRSU1,500—149,100
Andrea Anigati KramerRSU1,389—138,067
Lydia GavalisRSU637—63,318
05

Incentive-plan design — the Compensation Discussion & Analysis

Hamilton Lane aims to attract, motivate, and retain skilled talent by offering a market-based mix of fixed and variable compensation that aligns employee interests with stockholder value. The program balances current income with long-term incentives tied to operational targets and stockholder value growth, utilizing a blend of base salary, annual discretionary bonuses (cash and equity), long-term equity incentives, and carried interest.

CEO STI target (% of salary)—
CEO LTI target (% of salary)—
Independent consultantSemler Brossy Consulting Group, LLC
Clawback policytrue
Anti-hedgingtrue
Anti-pledgingtrue
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-09-10110,919,84318,745,336132,92885.54%Passed
20252025-09-0498,253,13330,764,30712,39776.15%Passed
20242024-09-05136,643,2587,373,5931,448,87594.88%Passed
20232023-09-07163,580,107672,24913,75299.59%Passed
20222022-09-01166,277,533869,26011,61599.48%Passed
20212021-09-02173,926,863632,898131,36099.64%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
20262026-09-1085.54%a
20252025-09-0476.15%b
20242024-09-0594.88%c

a. Voting standard not stated in the filing.

b. Voting standard not stated in the filing.

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)26 : 1
CEO total compensation$3,461,693
Median employee compensation$130,802
08

Director compensation — fiscal year 2026

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Leslie F. VaronIndependent · Audit (Chair) · Compensation$135,000$100,000———$235,000
David J. BerkmanIndependent · Audit · Compensation200,0000———200,000
O. Griffith SextonIndependent · Audit · Compensation0200,000———200,000
R. Vann GravesIndependent172,91727,083———200,000
Hartley R. RogersEmployee director · Board Chair · Compensation (Chair)—————0
Juan Delgado-MoreiraEmployee director—————0
Mario L. GianniniEmployee director · Departed during FY—————0
Erik R. HirschEmployee director—————0
Michael SchmertzlerIndependent · Partial-year service · Newly elected——————
09

Board fee structure and ownership guideline

Annual cash retainer$200,000
Annual equity retainer—
Per board meeting fee—
Committee chair fees (audit / comp / nom-gov)35,000
Stock ownership guideline—
09b

Total cost of the board

ComponentFY2026
Cash retainers and fees$507,917
Equity awards (grant-date value)$327,083
All other compensation$0
Total cost of the board$835,000

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

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
1Hamilton Lane INC2026Juan Delgado-Moreira$320,513———$2,691,533

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 Hamilton Lane INC in fiscal 2026?
As disclosed, Erik Hirsch (Co-Chief Executive Officer) was the highest-paid executive at Hamilton Lane INC in fiscal 2026, with total compensation of $3,461,693.
What is Hamilton Lane INC's CEO-to-median employee pay ratio?
As disclosed, Hamilton Lane INC's CEO-to-median employee pay ratio was 26:1.
How did shareholders vote on Hamilton Lane INC's executive compensation?
As disclosed, 85.54% of shareholders supported Hamilton Lane INC's executive compensation in the latest say-on-pay vote.
How much does Hamilton Lane INC spend in total on board compensation for fiscal 2026?
As disclosed, Hamilton Lane INC reported total board compensation of $835,000 for fiscal 2026.

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, Erik HirschDEF 14A2026-07-230001433642-26-000034Section “Summary Compensation Table” · page 36. As printed: 3,461,693. Filing ↗
2Section 01, Andrea Anigati KramerDEF 14A2026-07-230001433642-26-000034Section “Summary Compensation Table” · page 36. As printed: 2,861,610. Filing ↗
3Section 01, Juan Delgado-MoreiraDEF 14A2026-07-230001433642-26-000034Section “Summary Compensation Table” · page 36. As printed: 2,691,533. Filing ↗
4Section 01, Jeffrey ArmbristerDEF 14A2026-07-230001433642-26-000034Section “Summary Compensation Table” · page 36. As printed: 1,766,480. Filing ↗
5Section 01, Lydia GavalisDEF 14A2026-07-230001433642-26-000034Section “Summary Compensation Table” · page 36. As printed: 1,049,756. Filing ↗
6Section 01, Drew CarlDEF 14A2026-07-230001433642-26-000034Section “Summary Compensation Table” · page 36. As printed: 860,859. Filing ↗
7Section 03, Drew Carl PSUDEF 14A1900-01-010001433642-26-000034Section “Grants of Plan-Based Awards in Fiscal 2026” · grants of plan-based awards table. Filing ↗machine: span 550329–550336
8Section 03, Lydia Gavalis PSUDEF 14A1900-01-010001433642-26-000034Section “Grants of Plan-Based Awards in Fiscal 2026” · grants of plan-based awards table. Filing ↗machine: span 547066–547073
9Section 03, Jeffrey Armbrister PSUDEF 14A1900-01-010001433642-26-000034Section “Grants of Plan-Based Awards in Fiscal 2026” · grants of plan-based awards table. Filing ↗machine: span 540523–540530
10Section 03, Andrea Anigati Kramer PSUDEF 14A1900-01-010001433642-26-000034Section “Grants of Plan-Based Awards in Fiscal 2026” · grants of plan-based awards table. Filing ↗machine: span 543794–543801
11Section 07, pay ratioDEF 14A2026-07-230001433642-26-000034Section “CEO Pay Ratio”. As printed: 26 : 1. Filing ↗
12Section 08, Leslie F. VaronDEF 14A2026-07-230001433642-26-000034Section “Director Compensation”. As printed: 235,000. Filing ↗machine: span 324185–324316
13Section 08, David J. BerkmanDEF 14A2026-07-230001433642-26-000034Section “Director Compensation”. As printed: 200,000. Filing ↗machine: span 316251–316382
14Section 08, O. Griffith SextonDEF 14A2026-07-230001433642-26-000034Section “Director Compensation”. As printed: 200,000. Filing ↗machine: span 321398–321529
15Section 08, R. Vann GravesDEF 14A2026-07-230001433642-26-000034Section “Director Compensation”. As printed: 200,000. Filing ↗machine: span 319870–320001
16Section 08, Hartley R. RogersDEF 14A2026-07-230001433642-26-000034Section “Director Compensation”. As printed: 0. Filing ↗
17Section 08, Juan Delgado-MoreiraDEF 14A2026-07-230001433642-26-000034Section “Director Compensation”. As printed: 0. Filing ↗
18Section 08, Mario L. GianniniDEF 14A2026-07-230001433642-26-000034Section “Director Compensation”. As printed: 0. Filing ↗
19Section 08, Erik R. HirschDEF 14A2026-07-230001433642-26-000034Section “Director Compensation”. As printed: 0. Filing ↗
20Section 08, Michael SchmertzlerDEF 14A2026-07-230001433642-26-000034Section “Director Compensation”. As printed: —. Filing ↗
21Section 02, Juan Delgado-Moreira 2026-09-10Form 42026-09-140001698040-26-000006Insider equity transaction reported since the proxy statement. Filing ↗
22Section 02, Juan Delgado-Moreira 2026-09-10Form 42026-09-140001698040-26-000006Insider equity transaction reported since the proxy statement. Filing ↗
23Section 02, Michael Schmertzler 2026-09-16Form 42026-09-180001288952-26-000011Insider equity transaction reported since the proxy statement. Filing ↗
24Section 02, O. Griffith Sexton 2026-09-16Form 42026-09-180001338580-26-000003Insider equity transaction reported since the proxy statement. Filing ↗
25Section 02, Leslie F. Varon 2026-09-16Form 42026-09-180001207403-26-000002Insider equity transaction reported since the proxy statement. Filing ↗
26Section 02, Andrea Anigati Kramer 2026-09-16Form 42026-09-180001698324-26-000007Insider equity transaction reported since the proxy statement. Filing ↗
27Section 02, Drew Carl 2026-09-16Form 42026-09-180001972135-26-000005Insider equity transaction reported since the proxy statement. Filing ↗
28Section 02, Jeffrey Armbrister 2026-09-16Form 42026-09-180001987386-26-000005Insider equity transaction reported since the proxy statement. Filing ↗
29Section 02, Jeffrey Armbrister 2026-09-16Form 42026-09-180001987386-26-000005Insider equity transaction reported since the proxy statement. Filing ↗
30Section 02, Andrea Anigati Kramer 2026-09-16Form 42026-09-180001698324-26-000007Insider equity transaction reported since the proxy statement. Filing ↗
31Section 06, 2026 voteForm 8-K2026-09-100001433642-26-000045Item 5.07 · say-on-pay result. As reported: 85.54% (votes for as printed: 110,919,843). Filing ↗
32Section 06, 2025 voteForm 8-K2025-09-050001433642-25-000089Item 5.07 · say-on-pay result. As reported: 76.15% (votes for as printed: 98,253,133). Filing ↗
33Section 06, 2024 voteForm 8-K2024-09-050001433642-24-000089Item 5.07 · say-on-pay result. As reported: 94.88% (votes for as printed: 136,643,258). Filing ↗
34Section 01 trend, Δ column (computed)Computed——Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
35Section 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
36Section 09b board cost (computed)Computed——Cash 507,917 + equity 327,083 + all other 0 = 835,000, summed across the director compensation table rows.machine: formula: Σ = 835,000
37Hamilton Lane INC (subject), Section 10b CEO totalDEF 14A2026-07-230001433642-26-000034CEO total compensation as printed in Hamilton Lane INC's own proxy. As printed: 2,691,533. Filing ↗

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