Fiscal year 2026 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.
Each company listed discloses HLNE 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 HLNE in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.
| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| Erik Hirsch | $325,000 | $2,520,000 | $0 | $0 | — | — | $616,693 | $3,461,693 |
| Co-Chief Executive Officer | ||||||||
| Andrea Anigati Kramer | 325,000 | 1,905,108 | 153,024 | 0 | — | — | 478,478 | 2,861,610 |
| Chief Operating Officer | ||||||||
| Juan Delgado-Moreira | 320,513 | 1,685,385 | 0 | 0 | — | — | 685,635 | 2,691,533 |
| Co-Chief Executive Officer | ||||||||
| Jeffrey Armbrister | 325,000 | 1,191,092 | 153,024 | 0 | — | — | 97,364 | 1,766,480 |
| Chief Financial Officer | ||||||||
| Lydia Gavalis | 325,000 | 593,750 | 102,066 | 0 | — | — | 28,940 | 1,049,756 |
| General Counsel and Secretary | ||||||||
| Drew Carl | 325,000 | 425,000 | 102,066 | 0 | — | — | 8,793 | 860,859 |
| 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.
| Named executive officer | FY2026 total | FY2025 total | FY2024 total | Δ FY2025→2026 |
|---|---|---|---|---|
| Erik Hirsch | $3,461,693 | $80,221,476 | $3,897,893 | −76,759,783 |
| Andrea Anigati Kramer | 2,861,610 | 4,842,337 | 2,174,427 | −1,980,727 |
| Juan Delgado-Moreira | 2,691,533 | 79,026,911 | 2,855,804 | −76,335,378 |
| Jeffrey Armbrister | 1,766,480 | 2,676,309 | 1,350,121 | −909,829 |
| Lydia Gavalis | 1,049,756 | 1,006,424 | 963,199 | +43,332 |
| Drew Carl | 860,859 | 658,480 | 680,282 | +202,379 |
Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.
No insider equity transactions reported since the proxy statement.
| Executive | Award | Grant date | Threshold | Target | Granted | Maximum | Grant-date fair value |
|---|---|---|---|---|---|---|---|
| Lydia Gavalis | RSU | 2025-09-16 | — | — | 1,356 | — | $102,066 |
| Jeffrey Armbrister | RSU | 2025-09-16 | — | — | 2,033 | — | 153,024 |
| Drew Carl | RSU | 2025-09-16 | — | — | 1,356 | — | 102,066 |
| Andrea Anigati Kramer | RSU | 2025-09-16 | — | 2,033 | 2,033 | — | 153,024 |
| Named executive officer | Time-vested (RSU) | Performance-vested (PSU) | Options / SARs | % performance-vested |
|---|---|---|---|---|
| Lydia Gavalis | $102,066 | $0 | $0 | 0.0% |
| Jeffrey Armbrister | 153,024 | 0 | 0 | 0.0% |
| Drew Carl | 102,066 | 0 | 0 | 0.0% |
| Andrea Anigati Kramer | 153,024 | 0 | 0 | 0.0% |
% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| Drew Carl | RSU | 1,356 | — | $134,786 |
| Jeffrey Armbrister | RSU | 2,033 | — | 202,080 |
| Andrea Anigati Kramer | RSU | 2,033 | — | 202,080 |
| Andrea Anigati Kramer | RSU | 3,624 | — | 360,226 |
| Andrea Anigati Kramer | RSU | 2,250 | — | 223,650 |
| Jeffrey Armbrister | PSU | 1,449 | — | 144,031 |
| Lydia Gavalis | RSU | 908 | — | 90,255 |
| Andrea Anigati Kramer | RSU | 5,012 | — | 498,193 |
| Jeffrey Armbrister | RSU | 2,899 | — | 288,161 |
| Jeffrey Armbrister | PSU | 4,348 | — | 432,191 |
| Andrea Anigati Kramer | RSU | 1,766 | — | 175,540 |
| Jeffrey Armbrister | RSU | 8,696 | — | 864,382 |
| Lydia Gavalis | RSU | 4,348 | — | 432,191 |
| Andrea Anigati Kramer | RSU | 8,696 | — | 864,382 |
| Andrea Anigati Kramer | PSU | 4,348 | — | 432,191 |
| Jeffrey Armbrister | RSU | 2,506 | — | 249,096 |
| Andrea Anigati Kramer | PSU | 1,811 | — | 180,013 |
| Lydia Gavalis | PSU | 2,174 | — | 216,096 |
| Lydia Gavalis | RSU | 1,356 | — | 134,786 |
| Jeffrey Armbrister | RSU | 1,500 | — | 149,100 |
| Jeffrey Armbrister | RSU | 1,204 | — | 119,678 |
| Andrea Anigati Kramer | RSU | 1,389 | — | 138,067 |
| Lydia Gavalis | RSU | 810 | — | 80,514 |
| Drew Carl | RSU | 330 | — | 32,802 |
| Lydia Gavalis | RSU | 637 | — | 63,318 |
| Drew Carl | RSU | 268 | — | 26,639 |
| Jeffrey Armbrister | RSU | 410 | — | 40,754 |
We believe that a compensation system that incentivizes actions that grow stockholder value closely aligns our employees with the interests of our stockholders. The compensation structure for our named executive officers is intended to balance the need of these executives for current income with the need to create long-term incentives that are directly tied to achievement of our operational targets and growth in stockholder value.
| CEO STI target (% of salary) | — |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | Semler Brossy Consulting Group, LLC |
| Clawback policy | True |
| Anti-hedging | True |
| Anti-pledging | True |
| Meeting year | Meeting date | For | Against | Abstain | Support | Outcome |
|---|---|---|---|---|---|---|
| 2025 | 2025-09-04 | 98,253,133 | 30,764,307 | 12,397 | 76.15% | Passed |
| 2024 | 2024-09-05 | 136,643,258 | 7,373,593 | 1,448,875 | 94.88% | Passed |
| 2023 | 2023-09-07 | 163,580,107 | 672,249 | 13,752 | 99.59% | Passed |
| 2022 | 2022-09-01 | 166,277,533 | 869,260 | 11,615 | 99.48% | Passed |
| 2021 | 2021-09-02 | 173,926,863 | 632,898 | 131,360 | 99.64% | Passed |
| 2020 | 2020-09-03 | 199,227,179 | 226,818 | 41,159 | 99.89% | 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.
| Meeting year | Meeting date | Approval — company's computation |
|---|---|---|
| 2025 | 2025-09-04 | 76.15%a |
| 2024 | 2024-09-05 | 94.88%b |
| 2023 | 2023-09-07 | 99.59%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.
| Ratio (CEO : median employee) | 26 : 1 |
|---|---|
| CEO total compensation | $3,461,693 |
| Median employee compensation | $130,802 |
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| Leslie F. VaronIndependent · Audit (Chair) · Compensation | $135,000 | $100,000 | $0 | — | $0 | $235,000 |
| R. Vann GravesIndependent · Audit | 172,917 | 27,083 | 0 | — | 0 | 200,000 |
| David J. BerkmanIndependent · Audit · Compensation | 200,000 | — | 0 | — | 0 | 200,000 |
| O. Griffith SextonIndependent · Audit · Compensation | — | 200,000 | 0 | — | 0 | 200,000 |
| Mario L. GianniniEmployee director · Not standing for re-election · Departed during FY | 0 | 0 | 0 | — | 0 | 0 |
| Hartley R. RogersEmployee director · Board Chair · Compensation (Chair) | 0 | 0 | 0 | — | 0 | 0 |
| Juan Delgado-MoreiraEmployee director | 0 | 0 | 0 | — | 0 | 0 |
| Erik R. HirschEmployee director | 0 | 0 | 0 | — | 0 | 0 |
| Michael SchmertzlerIndependent · Partial-year service · Newly elected | 0 | 0 | 0 | — | 0 | 0 |
| Annual cash retainer | — |
|---|---|
| Annual equity retainer | $500,000 |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | 35,000 |
| Stock ownership guideline | — |
| Component | FY2026 |
|---|---|
| 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.
Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company's own proxy statement.
| Rank | Company | FY | Chief executive | Salary | Stock awards | Option awards | Non-equity incentive | Total |
|---|---|---|---|---|---|---|---|---|
| 1 | Hamilton Lane INC | 2026 | Erik Hirsch | $325,000 | $0 | $0 | — | $3,461,693 |
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.
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.
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.
| # | Supports | Document | Filed | Accession | Location in document |
|---|---|---|---|---|---|
| 1 | Section 01, Erik Hirsch | DEF 14A | 2026-07-23 | 0001433642-26-000034 | Section “Summary Compensation Table” · page 36. As printed: 3,461,693. Filing ↗machine: t19 · r2 · c16 · span 471731–471740 |
| 2 | Section 01, Andrea Anigati Kramer | DEF 14A | 2026-07-23 | 0001433642-26-000034 | Section “Summary Compensation Table” · page 36. As printed: 2,861,610. Filing ↗machine: t19 · r11 · c16 · span 495598–495607 |
| 3 | Section 01, Juan Delgado-Moreira | DEF 14A | 2026-07-23 | 0001433642-26-000034 | Section “Summary Compensation Table” · page 36. As printed: 2,691,533. Filing ↗machine: t19 · r5 · c16 · span 479917–479926 |
| 4 | Section 01, Jeffrey Armbrister | DEF 14A | 2026-07-23 | 0001433642-26-000034 | Section “Summary Compensation Table” · page 36. As printed: 1,766,480. Filing ↗machine: t19 · r8 · c16 · span 487761–487770 |
| 5 | Section 01, Lydia Gavalis | DEF 14A | 2026-07-23 | 0001433642-26-000034 | Section “Summary Compensation Table” · page 36. As printed: 1,049,756. Filing ↗machine: t19 · r14 · c16 · span 503437–503446 |
| 6 | Section 01, Drew Carl | DEF 14A | 2026-07-23 | 0001433642-26-000034 | Section “Summary Compensation Table” · page 36. As printed: 860,859. Filing ↗machine: t19 · r17 · c16 · span 511256–511263 |
| 7 | Section 03, Lydia Gavalis RSU | DEF 14A | 2026-07-23 | 0001433642-26-000034 | Section “Grants of Plan-Based Awards in Fiscal 2026” · grants of plan-based awards table. Filing ↗machine: t19 · r14 · c10 · span 502425–502432 |
| 8 | Section 03, Jeffrey Armbrister RSU | DEF 14A | 2026-07-23 | 0001433642-26-000034 | Section “Grants of Plan-Based Awards in Fiscal 2026” · grants of plan-based awards table. Filing ↗machine: t19 · r8 · c10 · span 486749–486756 |
| 9 | Section 03, Drew Carl RSU | DEF 14A | 2026-07-23 | 0001433642-26-000034 | Section “Grants of Plan-Based Awards in Fiscal 2026” · grants of plan-based awards table. Filing ↗machine: t19 · r17 · c10 · span 510245–510252 |
| 10 | Section 03, Andrea Anigati Kramer RSU | DEF 14A | 2026-07-23 | 0001433642-26-000034 | Section “Grants of Plan-Based Awards in Fiscal 2026” · grants of plan-based awards table. Filing ↗machine: t19 · r11 · c10 · span 494585–494592 |
| 11 | Section 07, pay ratio | DEF 14A | 2026-07-23 | 0001433642-26-000034 | Section “CEO Pay Ratio”. As printed: 26 : 1. Filing ↗machine: span 700858–700865 |
| 12 | Section 08, Leslie F. Varon | DEF 14A | 2026-07-23 | 0001433642-26-000034 | Section “Director Compensation”. As printed: 235,000. Filing ↗machine: t13 · r5 · c11 · span 324296–324303 |
| 13 | Section 08, R. Vann Graves | DEF 14A | 2026-07-23 | 0001433642-26-000034 | Section “Director Compensation”. As printed: 200,000. Filing ↗machine: t13 · r3 · c11 · span 319981–319988 |
| 14 | Section 08, David J. Berkman | DEF 14A | 2026-07-23 | 0001433642-26-000034 | Section “Director Compensation”. As printed: 200,000. Filing ↗machine: t13 · r2 · c3 · span 316362–316369 |
| 15 | Section 08, O. Griffith Sexton | DEF 14A | 2026-07-23 | 0001433642-26-000034 | Section “Director Compensation”. As printed: 200,000. Filing ↗machine: t13 · r4 · c7 · span 321509–321516 |
| 16 | Section 08, Mario L. Giannini | DEF 14A | 2026-07-23 | 0001433642-26-000034 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 17 | Section 08, Hartley R. Rogers | DEF 14A | 2026-07-23 | 0001433642-26-000034 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 18 | Section 08, Juan Delgado-Moreira | DEF 14A | 2026-07-23 | 0001433642-26-000034 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 19 | Section 08, Erik R. Hirsch | DEF 14A | 2026-07-23 | 0001433642-26-000034 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 20 | Section 08, Michael Schmertzler | DEF 14A | 2026-07-23 | 0001433642-26-000034 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 21 | Section 06, 2025 vote | Form 8-K | 2025-09-05 | 0001433642-25-000089 | Item 5.07 · say-on-pay result. As reported: 76.15% (votes for as printed: 98,253,133). Filing ↗ |
| 22 | Section 06, 2024 vote | Form 8-K | 2024-09-05 | 0001433642-24-000089 | Item 5.07 · say-on-pay result. As reported: 94.88% (votes for as printed: 136,643,258). Filing ↗ |
| 23 | Section 06, 2023 vote | Form 8-K | 2023-09-12 | 0001433642-23-000086 | Item 5.07 · say-on-pay result. As reported: 99.59% (votes for as printed: 163,580,107). Filing ↗ |
| 24 | Section 01 trend, Δ column (computed) | Computed | — | computed | Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1) |
| 25 | Section 03b vehicle mix (computed) | 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 |
| 26 | Section 09b board cost (computed) | 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 |
| 27 | Hamilton Lane INC (subject), Section 10b CEO total | DEF 14A | 2026-07-23 | 0001433642-26-000034 | CEO total compensation as printed in Hamilton Lane INC's own proxy. As printed: 3,461,693. Filing ↗machine: t19 · r2 · c16 · span 471731–471740 |