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 ↗
| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| Erik Hirsch | $325,000 | $2,520,000 | — | — | — | — | $616,693 | $3,461,693 |
| Co-Chief Executive Officer | ||||||||
| Andrea Anigati Kramer | 325,000 | 1,905,108 | 153,024 | — | — | — | 478,478 | 2,861,610 |
| Chief Operating Officer | ||||||||
| Juan Delgado-Moreira | 320,513 | 1,685,385 | — | — | — | — | 685,635 | 2,691,533 |
| Co-Chief Executive Officer | ||||||||
| Jeffrey Armbrister | 325,000 | 1,191,092 | 153,024 | — | — | — | 97,364 | 1,766,480 |
| Chief Financial Officer | ||||||||
| Lydia Gavalis | 325,000 | 593,750 | 102,066 | — | — | — | 28,940 | 1,049,756 |
| General Counsel and Secretary | ||||||||
| Drew Carl | 325,000 | 425,000 | 102,066 | — | — | — | 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.
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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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One page per director: the seat, the committees and the fee table, read for one person at a time.
| Director | Role | FY2026 total |
|---|---|---|
| David J. Berkman | Independent Director | $200,000 |
| Leslie F. Varon | Independent Director | $235,000 |
| O. Griffith Sexton | Independent Director | $200,000 |
| R. Vann Graves | Independent Director | $200,000 |
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.
| Insider | Role | Transaction date | Code | Shares | Price | Value | Security | Source |
|---|---|---|---|---|---|---|---|---|
| Juan Delgado-Moreira | Director | 2026-09-10 | A | 50,000 | $0 | $0 | Common | Form 4 ↗ |
| Juan Delgado-Moreira | Director | 2026-09-10 | D | 50,000 | 0 | 0 | Common | Form 4 ↗ |
| Michael Schmertzler | Director | 2026-09-16 | A | 977 | 0 | 0 | Common | Form 4 ↗ |
| O. Griffith Sexton | Director | 2026-09-16 | A | 1,953 | 0 | 0 | Common | Form 4 ↗ |
| Leslie F. Varon | Director | 2026-09-16 | A | 977 | 0 | 0 | Common | Form 4 ↗ |
| Andrea Anigati Kramer | Chief Operating Officer | 2026-09-16 | D | 736 | 93 | 68,470 | Common | Form 4 ↗ |
| Drew Carl | Chief Accounting Officer | 2026-09-16 | A | 2,226 | 0 | 0 | Derivative, Class A Common | Form 4 ↗ |
| Jeffrey Armbrister | Chief Financial Officer | 2026-09-16 | A | 22,252 | 0 | 0 | Derivative, Class A Common | Form 4 ↗ |
| Jeffrey Armbrister | Chief Financial Officer | 2026-09-16 | D | 393 | 93 | 36,561 | Common | Form 4 ↗ |
| Andrea Anigati Kramer | Chief Operating Officer | 2026-09-16 | A | 22,252 | 0 | 0 | Derivative, Class A Common | Form 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.
| Executive | Award | Grant date | Threshold | Target | Granted | Maximum | Grant-date fair value |
|---|---|---|---|---|---|---|---|
| Drew Carl | PSU | 2025-09-16 | — | 1,356 | — | — | $102,066 |
| Lydia Gavalis | PSU | 2025-09-16 | — | 1,356 | — | — | 102,066 |
| Jeffrey Armbrister | PSU | 2025-09-16 | — | 2,033 | — | — | 153,024 |
| Andrea Anigati Kramer | PSU | 2025-09-16 | — | 2,033 | — | — | 153,024 |
| Named executive officer | Time-vested (RSU) | Performance-vested (PSU) | Options / SARs | % performance-vested |
|---|---|---|---|---|
| Drew Carl | $0 | $102,066 | $0 | 100.0% |
| Lydia Gavalis | 0 | 102,066 | 0 | 100.0% |
| Jeffrey Armbrister | 0 | 153,024 | 0 | 100.0% |
| Andrea Anigati Kramer | 0 | 153,024 | 0 | 100.0% |
% 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 |
|---|---|---|---|---|
| Jeffrey Armbrister | RSU | 1,204 | — | $119,678 |
| Andrea Anigati Kramer | RSU | 8,696 | — | 864,382 |
| Lydia Gavalis | PSU | 2,174 | — | 216,096 |
| Jeffrey Armbrister | PSU | 1,449 | — | 144,031 |
| Drew Carl | RSU | 1,356 | — | 134,786 |
| Lydia Gavalis | RSU | 908 | — | 90,255 |
| Andrea Anigati Kramer | RSU | 3,624 | — | 360,226 |
| Jeffrey Armbrister | PSU | 2,033 | — | 202,080 |
| Lydia Gavalis | RSU | 1,356 | — | 134,786 |
| Jeffrey Armbrister | RSU | 2,899 | — | 288,161 |
| Lydia Gavalis | RSU | 4,348 | — | 432,191 |
| Drew Carl | RSU | 268 | — | 26,639 |
| Jeffrey Armbrister | RSU | 8,696 | — | 864,382 |
| Andrea Anigati Kramer | RSU | 5,012 | — | 498,193 |
| Andrea Anigati Kramer | PSU | 1,811 | — | 180,013 |
| Jeffrey Armbrister | RSU | 410 | — | 40,754 |
| Jeffrey Armbrister | PSU | 4,348 | — | 432,191 |
| Andrea Anigati Kramer | PSU | 4,348 | — | 432,191 |
| Drew Carl | RSU | 330 | — | 32,802 |
| Juan Delgado-Moreira | RSU | 3,718 | — | 320,513 |
| Jeffrey Armbrister | RSU | 2,506 | — | 249,096 |
| Andrea Anigati Kramer | RSU | 2,250 | — | 223,650 |
| Lydia Gavalis | RSU | 810 | — | 80,514 |
| Andrea Anigati Kramer | PSU | 2,033 | — | 202,080 |
| Andrea Anigati Kramer | RSU | 1,766 | — | 175,540 |
| Jeffrey Armbrister | RSU | 1,500 | — | 149,100 |
| Andrea Anigati Kramer | RSU | 1,389 | — | 138,067 |
| Lydia Gavalis | RSU | 637 | — | 63,318 |
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 consultant | Semler Brossy Consulting Group, LLC |
| Clawback policy | true |
| Anti-hedging | true |
| Anti-pledging | true |
| Meeting year | Meeting date | For | Against | Abstain | Support | Outcome |
|---|---|---|---|---|---|---|
| 2026 | 2026-09-10 | 110,919,843 | 18,745,336 | 132,928 | 85.54% | Passed |
| 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 |
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 |
|---|---|---|
| 2026 | 2026-09-10 | 85.54%a |
| 2025 | 2025-09-04 | 76.15%b |
| 2024 | 2024-09-05 | 94.88%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.
| 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 | — | — | — | $235,000 |
| David J. BerkmanIndependent · Audit · Compensation | 200,000 | 0 | — | — | — | 200,000 |
| O. Griffith SextonIndependent · Audit · Compensation | 0 | 200,000 | — | — | — | 200,000 |
| R. Vann GravesIndependent | 172,917 | 27,083 | — | — | — | 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 | — | — | — | — | — | — |
| Annual cash retainer | $200,000 |
|---|---|
| Annual equity retainer | — |
| 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 | Juan 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.
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 ↗ |
| 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 ↗ |
| 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 ↗ |
| 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 ↗ |
| 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 ↗ |
| 6 | Section 01, Drew Carl | DEF 14A | 2026-07-23 | 0001433642-26-000034 | Section “Summary Compensation Table” · page 36. As printed: 860,859. Filing ↗ |
| 7 | Section 03, Drew Carl PSU | DEF 14A | 1900-01-01 | 0001433642-26-000034 | Section “Grants of Plan-Based Awards in Fiscal 2026” · grants of plan-based awards table. Filing ↗machine: span 550329–550336 |
| 8 | Section 03, Lydia Gavalis PSU | DEF 14A | 1900-01-01 | 0001433642-26-000034 | Section “Grants of Plan-Based Awards in Fiscal 2026” · grants of plan-based awards table. Filing ↗machine: span 547066–547073 |
| 9 | Section 03, Jeffrey Armbrister PSU | DEF 14A | 1900-01-01 | 0001433642-26-000034 | Section “Grants of Plan-Based Awards in Fiscal 2026” · grants of plan-based awards table. Filing ↗machine: span 540523–540530 |
| 10 | Section 03, Andrea Anigati Kramer PSU | DEF 14A | 1900-01-01 | 0001433642-26-000034 | Section “Grants of Plan-Based Awards in Fiscal 2026” · grants of plan-based awards table. Filing ↗machine: span 543794–543801 |
| 11 | Section 07, pay ratio | DEF 14A | 2026-07-23 | 0001433642-26-000034 | Section “CEO Pay Ratio”. As printed: 26 : 1. Filing ↗ |
| 12 | Section 08, Leslie F. Varon | DEF 14A | 2026-07-23 | 0001433642-26-000034 | Section “Director Compensation”. As printed: 235,000. Filing ↗machine: span 324185–324316 |
| 13 | Section 08, David J. Berkman | DEF 14A | 2026-07-23 | 0001433642-26-000034 | Section “Director Compensation”. As printed: 200,000. Filing ↗machine: span 316251–316382 |
| 14 | Section 08, O. Griffith Sexton | DEF 14A | 2026-07-23 | 0001433642-26-000034 | Section “Director Compensation”. As printed: 200,000. Filing ↗machine: span 321398–321529 |
| 15 | Section 08, R. Vann Graves | DEF 14A | 2026-07-23 | 0001433642-26-000034 | Section “Director Compensation”. As printed: 200,000. Filing ↗machine: span 319870–320001 |
| 16 | Section 08, Hartley R. Rogers | DEF 14A | 2026-07-23 | 0001433642-26-000034 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 17 | Section 08, Juan Delgado-Moreira | DEF 14A | 2026-07-23 | 0001433642-26-000034 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 18 | Section 08, Mario L. Giannini | 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: —. Filing ↗ |
| 21 | Section 02, Juan Delgado-Moreira 2026-09-10 | Form 4 | 2026-09-14 | 0001698040-26-000006 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 22 | Section 02, Juan Delgado-Moreira 2026-09-10 | Form 4 | 2026-09-14 | 0001698040-26-000006 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 23 | Section 02, Michael Schmertzler 2026-09-16 | Form 4 | 2026-09-18 | 0001288952-26-000011 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 24 | Section 02, O. Griffith Sexton 2026-09-16 | Form 4 | 2026-09-18 | 0001338580-26-000003 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 25 | Section 02, Leslie F. Varon 2026-09-16 | Form 4 | 2026-09-18 | 0001207403-26-000002 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 26 | Section 02, Andrea Anigati Kramer 2026-09-16 | Form 4 | 2026-09-18 | 0001698324-26-000007 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 27 | Section 02, Drew Carl 2026-09-16 | Form 4 | 2026-09-18 | 0001972135-26-000005 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 28 | Section 02, Jeffrey Armbrister 2026-09-16 | Form 4 | 2026-09-18 | 0001987386-26-000005 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 29 | Section 02, Jeffrey Armbrister 2026-09-16 | Form 4 | 2026-09-18 | 0001987386-26-000005 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 30 | Section 02, Andrea Anigati Kramer 2026-09-16 | Form 4 | 2026-09-18 | 0001698324-26-000007 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 31 | Section 06, 2026 vote | Form 8-K | 2026-09-10 | 0001433642-26-000045 | Item 5.07 · say-on-pay result. As reported: 85.54% (votes for as printed: 110,919,843). Filing ↗ |
| 32 | 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 ↗ |
| 33 | 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 ↗ |
| 34 | Section 01 trend, Δ column (computed) | Computed | — | — | Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1) |
| 35 | Section 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 |
| 36 | Section 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 |
| 37 | 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: 2,691,533. Filing ↗ |
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