Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-10-02

NORTHERN TRUST CORP (NTRS)

CEO Michael O'Grady was paid $10,059,154 in fiscal year 2025, ↓ down 8.0% from fiscal year 2024, the 1st percentile of its disclosed peer group (SEC filing 0000073124-26-000022 ↗): 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.

$10,059,154 ↓
Michael O'Grady total, FY2025
1st
CEO pay percentile vs peers
136:1
CEO-to-median pay ratio
94.03%
Say-on-pay support, latest vote

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- Michael O'Grady (Chairman and Chief Executive Officer), FY2025 total compensation $10,059,154 (base salary $1,000,000) [exec_comp, SEC accession 0000073124-26-000022, filed 2026-03-11]

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NTRS's next annual pay disclosure, estimated March 10, 2027.est. Filing ↗

01

Summary Compensation Table — fiscal year 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Michael O'Grady$1,000,000$0$6,150,111$0$2,730,000$135,667$43,376$10,059,154
Chairman and Chief Executive Officer
Peter Cherecwich675,00002,502,61501,447,500131,63825,7864,782,539
Chief Operating Officer
Thomas South656,25002,635,17701,065,000246,47621,4494,624,352
Chief Information Officer
Jason Tyler656,25002,380,11101,297,500171,11720,5264,525,504
President, Wealth Management
David Fox646,25001,533,22501,147,50092,10631,9923,451,073
Chief Financial 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 officerFY2025 totalFY2024 totalFY2023 totalΔ FY2024→2025
Michael O'Grady$10,059,154$10,929,786$10,174,760↓ −870,632
Peter Cherecwich4,782,5394,572,4915,101,002↑ +210,048
Thomas South4,624,352———
Jason Tyler4,525,5044,101,4834,283,939↑ +424,021
David Fox3,451,0732,017,262—↑ +1,433,811

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

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$10,059,154 Michael O'Grady total, FY2025

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Data as of October 2, 2026 · Source: 0000073124-26-000022 · Velarion Executive Compensation Database, deposited on Zenodo (doi:10.5281/zenodo.22283855).

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Companies that benchmark against NTRS
24 companies name NTRS as a compensation peer

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

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01b

Executives — the named officers

One page per officer: the same table above, read for one person at a time — his own figure and every fiscal year the register holds.

ExecutiveRoleFY2025 total
David FoxCFO$3,451,073
Peter CherecwichCOO$4,782,539
Jason TylerEVP$4,525,504
Michael O'GradyCEO$10,059,154
Thomas SouthChief Information Officer$4,624,352
01c

Board of directors

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

DirectorRoleFY2025 total
Chandra DhandapaniIndependent Director$302,170
Charles A. Tribbett IIIIndependent Director$293,809
David H. B. Smith JrIndependent Director$331,886
Dean M. HarrisonIndependent Director$365,348
Donald ThompsonIndependent Director$318,425
Jay L. HendersonLead Independent Director$423,425
Linda Walker BynoeFormer director (through FY2025)$44,615
Marcy S. KlevornIndependent Director$334,963
Martin P. SlarkIndependent Director$297,271
Richard PetrinoIndependent Director$295,754
Robert E. MoritzIndependent Director$280,681
Siddharth N. Bobby MehtaIndependent Director$354,963
Susan CrownIndependent Director$293,809
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
Chandra DhandapaniDirector2026-03-31A250.77$140$35,000CommonForm 4 ↗
Donald ThompsonDirector2026-03-31A268.6814037,500CommonForm 4 ↗
Dean M. HarrisonDirector2026-03-31A322.4214045,000CommonForm 4 ↗
Marcy S. KlevornDirector2026-04-01A59.51418,414CommonForm 4 ↗
Siddharth N. Bobby MehtaDirector2026-04-01A22.291413,152CommonForm 4 ↗
Richard PetrinoDirector2026-04-01A2.43141344CommonForm 4 ↗
Charles A. Tribbett IIIDirector2026-04-01A86.3114112,205CommonForm 4 ↗
Susan CrownDirector2026-04-01A82.6514111,688CommonForm 4 ↗
Chandra DhandapaniDirector2026-04-01A19.721412,789CommonForm 4 ↗
Dean M. HarrisonDirector2026-04-01A149.0314121,074CommonForm 4 ↗
Martin P. SlarkDirector2026-04-01A65.171419,216CommonForm 4 ↗
Donald ThompsonDirector2026-04-01A142.8514120,200CommonForm 4 ↗
Chandra DhandapaniDirector2026-04-21A98900CommonForm 4 ↗
Chandra DhandapaniDirector2026-04-21A34.891725,992CommonForm 4 ↗
Siddharth N. Bobby MehtaDirector2026-04-21A98900CommonForm 4 ↗
Siddharth N. Bobby MehtaDirector2026-04-21A34.891725,992CommonForm 4 ↗
Donald ThompsonDirector2026-04-21A98900CommonForm 4 ↗
Donald ThompsonDirector2026-04-21A34.891725,992CommonForm 4 ↗
Robert E. MoritzDirector2026-04-21A98900CommonForm 4 ↗
Richard PetrinoDirector2026-04-21A17.451722,997CommonForm 4 ↗
Dean M. HarrisonDirector2026-04-21A98900CommonForm 4 ↗
Martin P. SlarkDirector2026-04-21A98900CommonForm 4 ↗
Martin P. SlarkDirector2026-04-21A34.891725,992CommonForm 4 ↗
Jay L. HendersonDirector2026-04-21A98900CommonForm 4 ↗
Richard PetrinoDirector2026-04-21A98900CommonForm 4 ↗
Charles A. Tribbett IIIDirector2026-04-21A98900CommonForm 4 ↗
Marcy S. KlevornDirector2026-04-21A34.891725,992CommonForm 4 ↗
David H. B. Smith JrDirector2026-04-21A98900CommonForm 4 ↗
Susan CrownDirector2026-04-21A34.891725,992CommonForm 4 ↗
Marcy S. KlevornDirector2026-04-21A98900CommonForm 4 ↗
Susan CrownDirector2026-04-21A98900CommonForm 4 ↗
Dean M. HarrisonDirector2026-04-21A34.891725,992CommonForm 4 ↗
Clive BellowsCo-President Asset Servicing2026-04-24D2,800165462,056CommonForm 4 ↗
David FoxEVP & Chief Financial Officer2026-04-28D19,9871663,321,040CommonForm 4 ↗
David FoxEVP & Chief Financial Officer2026-04-29D131662,155CommonForm 4 ↗
David H. B. Smith JrDirector2026-04-30A1,20000CommonForm 4 ↗
Robert E. MoritzDirector2026-05-01A22516637,442CommonForm 4 ↗
Thomas SouthExecutive Vice President2026-05-04D1,30000CommonForm 4 ↗
Thomas SouthExecutive Vice President2026-05-22D32000CommonForm 4 ↗
Aengus HallinanExecutive Vice President2026-06-01D2,707167451,582CommonForm 4 ↗
Aengus HallinanExecutive Vice President2026-06-03D2,555167426,941CommonForm 4 ↗
Aengus HallinanExecutive Vice President2026-06-03D1,113168186,939CommonForm 4 ↗
Chandra DhandapaniDirector2026-06-30A201.3317434,999CommonForm 4 ↗
Dean M. HarrisonDirector2026-06-30A258.8617445,000CommonForm 4 ↗
Donald ThompsonDirector2026-06-30A215.7217437,501CommonForm 4 ↗
Susan CrownDirector2026-07-01A75.7517613,302CommonForm 4 ↗
Marcy S. KlevornDirector2026-07-01A57.0117610,011CommonForm 4 ↗
Siddharth N. Bobby MehtaDirector2026-07-01A26.881764,720CommonForm 4 ↗
Donald ThompsonDirector2026-07-01A125.7517622,082CommonForm 4 ↗
Chandra DhandapaniDirector2026-07-01A25.941764,555CommonForm 4 ↗
Dean M. HarrisonDirector2026-07-01A130.9617622,997CommonForm 4 ↗
Richard PetrinoDirector2026-07-01A5.39176946CommonForm 4 ↗
Martin P. SlarkDirector2026-07-01A61.617610,817CommonForm 4 ↗
Charles A. Tribbett IIIDirector2026-07-01A69.917612,274CommonForm 4 ↗
Robert E. MoritzDirector2026-07-29A25518045,790CommonForm 4 ↗
David H. B. Smith JrDirector2026-07-31A1,12000CommonForm 4 ↗
Thomas SouthExecutive Vice President2026-08-24D1,800185332,820CommonForm 4 ↗
Michael HunstadPresident/Asset Management2026-09-01D622184114,361CommonForm 4 ↗
Chandra DhandapaniDirector2026-09-30A206.6616935,000CommonForm 4 ↗
Donald ThompsonDirector2026-09-30A221.4216937,500CommonForm 4 ↗
Dean M. HarrisonDirector2026-09-30A265.7116945,001CommonForm 4 ↗
Chandra DhandapaniDirector2026-10-01A30.791695,210CommonForm 4 ↗
Richard PetrinoDirector2026-10-01A6.191691,047CommonForm 4 ↗
Susan CrownDirector2026-10-01A86.8816914,700CommonForm 4 ↗
Dean M. HarrisonDirector2026-10-01A151.5716925,646CommonForm 4 ↗
Martin P. SlarkDirector2026-10-01A70.6516911,954CommonForm 4 ↗
Donald ThompsonDirector2026-10-01A145.3416924,592CommonForm 4 ↗
Charles A. Tribbett IIIDirector2026-10-01A80.1616913,563CommonForm 4 ↗
Marcy S. KlevornDirector2026-10-01A65.3816911,062CommonForm 4 ↗
Siddharth N. Bobby MehtaDirector2026-10-01A30.821695,215CommonForm 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
Michael O'GradyPSU2025-02-058,82735,308—52,962$3,997,572
Jason TylerRSU2025-02-05——7,358—833,073
Michael O'GradyRSU2025-02-05——19,012—2,152,539
Thomas SouthRSU2025-02-05——25,850—2,635,177
Peter CherecwichPSU2025-02-053,59214,367—21,5511,626,632
Jason TylerPSU2025-02-053,41613,664—20,4961,547,038
Peter CherecwichRSU2025-02-05——7,737—875,983
David FoxRSU2025-02-05——4,740—536,663
David FoxPSU2025-02-052,2018,802—13,203996,562
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Michael O'Grady$2,152,539$3,997,572$065.0%
Jason Tyler833,0731,547,038065.0%
Thomas South2,635,177000.0%
Peter Cherecwich875,9831,626,632065.0%
David Fox536,663996,562065.0%

% 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 2025

ExecutiveAwardShares unvestedExercise priceMarket value unvested
David FoxPSU19,773—$2,700,794
David FoxRSU13,807—1,885,898
Peter CherecwichPSU86,186—11,772,146
Jason TylerPSU74,837—10,221,986
Thomas SouthPSU49,353—6,741,126
Thomas SouthRSU33,339—4,553,774
Jason TylerRSU21,580—2,947,612
Peter CherecwichRSU23,851—3,257,808
05

Incentive-plan design — the Compensation Discussion & Analysis

The Committee believes this structure provides a clear and transparent explanation of the link between strategy, performance, and pay, aligning with the One Northern Trust strategy to drive accountability for corporate and individual results while balancing sustainable growth, risk management, and financial performance.

CEO STI target (% of salary)—
CEO LTI target (% of salary)—
Independent consultantMeridian Compensation Partners, LLC
Clawback policytrue
Anti-hedgingtrue
Anti-pledgingtrue
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-04-21148,700,3089,443,599765,20994.03%Passed
20252025-04-22160,197,6836,880,1542,643,41895.88%Passed
20242024-04-16166,292,9909,010,669382,31694.86%Passed
20232023-04-25175,807,6445,495,682358,96196.97%Passed
20222022-04-26173,789,0218,180,171265,46095.5%Passed
20212021-04-20167,662,1928,954,856302,33194.93%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
20262026-04-2194.03%a
20252025-04-2295.88%b
20242024-04-1694.86%c

a. Approved under the standard stated in the filing — “• Abstentions with respect to a nominee will have no effect on the election of such nominee.”.

b. Approved under the standard stated in the filing — “Abstentions will have the effect of a vote AGAINST this item.”.

c. Approved under the standard stated in the filing — “Abstentions will have the effect of a vote AGAINST this item.”.

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)136 : 1
CEO total compensation$10,059,154
Median employee compensation$73,867
08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Jay L. HendersonIndependent · Lead Independent Director · Audit · Compensation · Nominating/Governance$253,462$169,963$0$0$0$423,425
Dean M. HarrisonIndependent · Audit · Compensation · Nominating/Governance195,385169,963000365,348
Siddharth N. Bobby MehtaIndependent · Audit · Compensation · Nominating/Governance185,000169,963000354,963
Marcy S. KlevornIndependent · Audit · Compensation · Nominating/Governance165,000169,963000334,963
David H. B. Smith JrIndependent · Audit · Compensation · Nominating/Governance (Chair)161,923169,963000331,886
Donald ThompsonIndependent · Audit · Compensation · Nominating/Governance148,462169,963000318,425
Chandra DhandapaniIndependent · Audit (Chair) · Nominating/Governance132,207169,963000302,170
Martin P. SlarkIndependent · Audit · Compensation · Nominating/Governance127,308169,963000297,271
Richard PetrinoIndependent · Audit · Compensation · Nominating/Governance · Partial-year service125,791169,963000295,754
Charles A. Tribbett IIIIndependent · Compensation (Chair) · Nominating/Governance123,846169,963000293,809
Susan CrownIndependent · Audit · Compensation · Nominating/Governance123,846169,963000293,809
Robert E. MoritzIndependent · Audit · Compensation · Nominating/Governance · Partial-year service110,718169,963000280,681
Linda Walker BynoeIndependent · Departed during FY44,615—00044,615
Michael G. O'GradyEmployee director000—00
09

Board fee structure and ownership guideline

Annual cash retainer$110,000
Annual equity retainer$170,000
Per board meeting fee—
Committee chair fees (audit / comp / nom-gov)40,000 / 30,000 / 30,000
Stock ownership guideline5x annual cash retainer ($550,000)
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$1,897,563
Equity awards (grant-date value)$2,039,556
All other compensation$0
Total cost of the board$3,937,119

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 NORTHERN TRUST CORP 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 NORTHERN TRUST CORP.

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
1The Bank of New York Mellon Corporation2025Robin Vince$1,300,000$47,440,141$25,000,004$9,510,000$83,472,970
2BlackRock, Inc.2025Laurence Fink1,500,00024,600,1840037,749,569
3The PNC Financial Services Group, Inc.2025William Demchak1,300,00017,500,18409,200,00029,503,081
4State Street Corporation2025Ronald O'Hanley1,200,00012,764,92405,399,37519,529,070
5The Charles Schwab Corporation2025Richard Wurster1,248,4687,612,5535,075,0194,727,41618,755,222
6T. Rowe Price Group, Inc.2025Robert Sharps350,0008,401,68908,401,50017,245,792
7Franklin Resources, Inc.2025Jennifer Johnson750,0008,959,77106,925,00016,844,816
8U.S. Bancorp2025Gunjan Kedia1,141,66711,499,99603,232,26716,674,515
9Truist Financial Corporation2025William Rogers1,200,0007,275,12604,095,00014,313,770
10M&T Bank Corporation2025René F. Jones1,100,0006,660,238740,022012,015,250
11KeyCorp2025Christopher Gorman1,200,0006,209,991689,9983,240,00011,522,025
12Fifth Third Bancorp2025Timothy Spence1,116,6357,140,04002,328,75011,052,366
13NORTHERN TRUST CORP2025Michael O'Grady1,000,0006,150,11102,730,00010,059,154

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
NORTHERN TRUST CORPnot disclosedPSU 65 · RSU 35NoMeridian Compensation Partners, LLC
BlackRock, Inc.not disclosedPSU 74 · RSU 26NoSemler Brossy
Fifth Third Bancorp103.5%PSU 60 · RSU 40NoF.W. Cook
Franklin Resources, Inc.1847%PSU 100YesSemler Brossy Consulting Group
KeyCorp120%PSU 60 · RSU 30NoCompensation Advisory Partners (CAP)
M&T Bank Corporationnot disclosedPSU 90 · Options 10NoAon
State Street Corporationnot disclosedPRSU 62 · DSA 38NoMeridian Compensation Partners
T. Rowe Price Group, Inc.not disclosedRSU 50 · PRSU 50NoJohnson Associates
The Bank of New York Mellon Corporationnot disclosedPSU 75 · RSU 25Yes — TSR percentile vs. Relative Peer GroupMeridian
The Charles Schwab Corporation116.5%PSU 60 · Options 40NoSemler Brossy Consulting Group LLC
The PNC Financial Services Group, Inc.not disclosedPSU 60 · RSU 40NoMeridian Compensation Partners, LLC
Truist Financial Corporation105%not disclosedYes — 3-Year Relative TSRFarient Advisors LLC
U.S. Bancorpnot disclosedPRSU 60 · RSU 40NoMeridian Compensation Partners, LLC

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.

10d

Frequently asked questions

Who was the highest-paid executive at NORTHERN TRUST CORP in fiscal 2025?
As disclosed, Michael O'Grady (Chairman and Chief Executive Officer) was the highest-paid executive at NORTHERN TRUST CORP in fiscal 2025, with total compensation of $10,059,154.
How does NORTHERN TRUST CORP's chief executive pay compare to its disclosed peer group?
As disclosed, Michael O'Grady's total compensation ranked at the 1st percentile of NORTHERN TRUST CORP's disclosed peer group.
What is NORTHERN TRUST CORP's CEO-to-median employee pay ratio?
As disclosed, NORTHERN TRUST CORP's CEO-to-median employee pay ratio was 136:1.
How did shareholders vote on NORTHERN TRUST CORP's executive compensation?
As disclosed, 94.03% of shareholders supported NORTHERN TRUST CORP's executive compensation in the latest say-on-pay vote.
How much does NORTHERN TRUST CORP spend in total on board compensation for fiscal 2025?
As disclosed, NORTHERN TRUST CORP reported total board compensation of $3,937,119 for fiscal 2025.

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, Michael O'GradyDEF 14A2026-03-110000073124-26-000022Section “2025 Summary Compensation Table” · page 72. As printed: 10,059,154. Filing ↗machine: r3 · c36 · span 1256395–1256406
2Section 01, Peter CherecwichDEF 14A2026-03-110000073124-26-000022Section “2025 Summary Compensation Table” · page 72. As printed: 4,782,539. Filing ↗machine: r9 · c36 · span 1275602–1275611
3Section 01, Thomas SouthDEF 14A2026-03-110000073124-26-000022Section “2025 Summary Compensation Table” · page 72. As printed: 4,624,352. Filing ↗machine: r15 · c36 · span 1295208–1295217
4Section 01, Jason TylerDEF 14A2026-03-110000073124-26-000022Section “2025 Summary Compensation Table” · page 72. As printed: 4,525,504. Filing ↗machine: r12 · c36 · span 1285308–1285317
5Section 01, David FoxDEF 14A2026-03-110000073124-26-000022Section “2025 Summary Compensation Table” · page 72. As printed: 3,451,073. Filing ↗machine: r6 · c36 · span 1266075–1266084
6Section 03, Michael O'Grady PSUDEF 14A2026-03-110000073124-26-000022Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t215 · r6 · c7 · span 1333825–1333831
7Section 03, Jason Tyler RSUDEF 14A2026-03-110000073124-26-000022Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t215 · r14 · c10 · span 1347588–1347595
8Section 03, Michael O'Grady RSUDEF 14A2026-03-110000073124-26-000022Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t215 · r5 · c8 · span 1331973–1331979
9Section 03, Thomas South RSUDEF 14A2026-03-110000073124-26-000022Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t215 · r17 · c8 · span 1352583–1352589
10Section 03, Peter Cherecwich PSUDEF 14A2026-03-110000073124-26-000022Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t215 · r12 · c7 · span 1343849–1343855
11Section 03, Jason Tyler PSUDEF 14A2026-03-110000073124-26-000022Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t215 · r15 · c7 · span 1348865–1348871
12Section 03, Peter Cherecwich RSUDEF 14A2026-03-110000073124-26-000022Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t215 · r11 · c10 · span 1342572–1342579
13Section 03, David Fox RSUDEF 14A2026-03-110000073124-26-000022Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t215 · r8 · c10 · span 1337549–1337556
14Section 03, David Fox PSUDEF 14A2026-03-110000073124-26-000022Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t215 · r9 · c7 · span 1338826–1338831
15Section 07, pay ratioDEF 14A2026-03-110000073124-26-000022Section “CEO Pay Ratio”. As printed: 136 : 1. Filing ↗machine: t237 · r2 · c2 · span 1675167–1675173
16Section 08, Jay L. HendersonDEF 14A2026-03-110000073124-26-000022Section “Director Compensation”. As printed: 423,425. Filing ↗machine: span 743114–743436
17Section 08, Dean M. HarrisonDEF 14A2026-03-110000073124-26-000022Section “Director Compensation”. As printed: 365,348. Filing ↗machine: span 741147–741469
18Section 08, Siddharth N. Bobby MehtaDEF 14A2026-03-110000073124-26-000022Section “Director Compensation”. As printed: 354,963. Filing ↗machine: span 746806–747128
19Section 08, Marcy S. KlevornDEF 14A2026-03-110000073124-26-000022Section “Director Compensation”. As printed: 334,963. Filing ↗machine: span 744817–745139
20Section 08, David H. B. Smith JrDEF 14A2026-03-110000073124-26-000022Section “Director Compensation”. As printed: 331,886. Filing ↗machine: span 753591–753913
21Section 08, Donald ThompsonDEF 14A2026-03-110000073124-26-000022Section “Director Compensation”. As printed: 318,425. Filing ↗machine: span 755293–755615
22Section 08, Chandra DhandapaniDEF 14A2026-03-110000073124-26-000022Section “Director Compensation”. As printed: 302,170. Filing ↗machine: span 739180–739502
23Section 08, Martin P. SlarkDEF 14A2026-03-110000073124-26-000022Section “Director Compensation”. As printed: 297,271. Filing ↗machine: span 751913–752235
24Section 08, Richard PetrinoDEF 14A2026-03-110000073124-26-000022Section “Director Compensation”. As printed: 295,754. Filing ↗machine: span 750211–750533
25Section 08, Charles A. Tribbett IIIDEF 14A2026-03-110000073124-26-000022Section “Director Compensation”. As printed: 293,809. Filing ↗machine: span 757275–757665
26Section 08, Susan CrownDEF 14A2026-03-110000073124-26-000022Section “Director Compensation”. As printed: 293,809. Filing ↗machine: span 737475–737797
27Section 08, Robert E. MoritzDEF 14A2026-03-110000073124-26-000022Section “Director Compensation”. As printed: 280,681. Filing ↗machine: span 748509–748831
28Section 08, Linda Walker BynoeDEF 14A2026-03-110000073124-26-000022Section “Director Compensation”. As printed: 44,615. Filing ↗machine: span 734555–734690
29Section 08, Michael G. O'GradyDEF 14A2026-03-110000073124-26-000022Section “Director Compensation”. As printed: 0. Filing ↗
30Section 02, Chandra Dhandapani 2026-03-31Form 42026-04-020001750288-26-000004Insider equity transaction reported since the proxy statement. Filing ↗
31Section 02, Donald Thompson 2026-03-31Form 42026-04-020001374074-26-000004Insider equity transaction reported since the proxy statement. Filing ↗
32Section 02, Dean M. Harrison 2026-03-31Form 42026-04-020001629460-26-000004Insider equity transaction reported since the proxy statement. Filing ↗
33Section 02, Marcy S. Klevorn 2026-04-01Form 42026-04-020001692367-26-000007Insider equity transaction reported since the proxy statement. Filing ↗
34Section 02, Siddharth N. Bobby Mehta 2026-04-01Form 42026-04-020001321443-26-000004Insider equity transaction reported since the proxy statement. Filing ↗
35Section 02, Richard Petrino 2026-04-01Form 42026-04-020001736600-26-000006Insider equity transaction reported since the proxy statement. Filing ↗
36Section 02, Charles A. Tribbett III 2026-04-01Form 42026-04-020001323371-26-000004Insider equity transaction reported since the proxy statement. Filing ↗
37Section 02, Susan Crown 2026-04-01Form 42026-04-020001124194-26-000007Insider equity transaction reported since the proxy statement. Filing ↗
38Section 02, Chandra Dhandapani 2026-04-01Form 42026-04-020001750288-26-000004Insider equity transaction reported since the proxy statement. Filing ↗
39Section 02, Dean M. Harrison 2026-04-01Form 42026-04-020001629460-26-000004Insider equity transaction reported since the proxy statement. Filing ↗
40Section 02, Martin P. Slark 2026-04-01Form 42026-04-020001012930-26-000004Insider equity transaction reported since the proxy statement. Filing ↗
41Section 02, Donald Thompson 2026-04-01Form 42026-04-020001374074-26-000004Insider equity transaction reported since the proxy statement. Filing ↗
42Section 02, Chandra Dhandapani 2026-04-21Form 42026-04-230001750288-26-000006Insider equity transaction reported since the proxy statement. Filing ↗
43Section 02, Chandra Dhandapani 2026-04-21Form 42026-04-230001750288-26-000006Insider equity transaction reported since the proxy statement. Filing ↗
44Section 02, Siddharth N. Bobby Mehta 2026-04-21Form 42026-04-230001321443-26-000006Insider equity transaction reported since the proxy statement. Filing ↗
45Section 02, Siddharth N. Bobby Mehta 2026-04-21Form 42026-04-230001321443-26-000006Insider equity transaction reported since the proxy statement. Filing ↗
46Section 02, Donald Thompson 2026-04-21Form 42026-04-230001374074-26-000006Insider equity transaction reported since the proxy statement. Filing ↗
47Section 02, Donald Thompson 2026-04-21Form 42026-04-230001374074-26-000006Insider equity transaction reported since the proxy statement. Filing ↗
48Section 02, Robert E. Moritz 2026-04-21Form 42026-04-230002033834-26-000010Insider equity transaction reported since the proxy statement. Filing ↗
49Section 02, Richard Petrino 2026-04-21Form 42026-04-230001736600-26-000008Insider equity transaction reported since the proxy statement. Filing ↗
50Section 02, Dean M. Harrison 2026-04-21Form 42026-04-230001629460-26-000006Insider equity transaction reported since the proxy statement. Filing ↗
51Section 02, Martin P. Slark 2026-04-21Form 42026-04-230001012930-26-000006Insider equity transaction reported since the proxy statement. Filing ↗
52Section 02, Martin P. Slark 2026-04-21Form 42026-04-230001012930-26-000006Insider equity transaction reported since the proxy statement. Filing ↗
53Section 02, Jay L. Henderson 2026-04-21Form 42026-04-230001673525-26-000002Insider equity transaction reported since the proxy statement. Filing ↗
54Section 02, Richard Petrino 2026-04-21Form 42026-04-230001736600-26-000008Insider equity transaction reported since the proxy statement. Filing ↗
55Section 02, Charles A. Tribbett III 2026-04-21Form 42026-04-230001323371-26-000006Insider equity transaction reported since the proxy statement. Filing ↗
56Section 02, Marcy S. Klevorn 2026-04-21Form 42026-04-230001692367-26-000009Insider equity transaction reported since the proxy statement. Filing ↗
57Section 02, David H. B. Smith Jr 2026-04-21Form 42026-04-230001478669-26-000009Insider equity transaction reported since the proxy statement. Filing ↗
58Section 02, Susan Crown 2026-04-21Form 42026-04-230001124194-26-000009Insider equity transaction reported since the proxy statement. Filing ↗
59Section 02, Marcy S. Klevorn 2026-04-21Form 42026-04-230001692367-26-000009Insider equity transaction reported since the proxy statement. Filing ↗
60Section 02, Susan Crown 2026-04-21Form 42026-04-230001124194-26-000009Insider equity transaction reported since the proxy statement. Filing ↗
61Section 02, Dean M. Harrison 2026-04-21Form 42026-04-230001629460-26-000006Insider equity transaction reported since the proxy statement. Filing ↗
62Section 02, Clive Bellows 2026-04-24Form 42026-04-280002027224-26-000009Insider equity transaction reported since the proxy statement. Filing ↗
63Section 02, David Fox 2026-04-28Form 42026-04-290002039870-26-000014Insider equity transaction reported since the proxy statement. Filing ↗
64Section 02, David Fox 2026-04-29Form 42026-04-290002039870-26-000014Insider equity transaction reported since the proxy statement. Filing ↗
65Section 02, David H. B. Smith Jr 2026-04-30Form 42026-05-010001478669-26-000011Insider equity transaction reported since the proxy statement. Filing ↗
66Section 02, Robert E. Moritz 2026-05-01Form 42026-05-040002033834-26-000012Insider equity transaction reported since the proxy statement. Filing ↗
67Section 02, Thomas South 2026-05-04Form 42026-05-040001751051-26-000008Insider equity transaction reported since the proxy statement. Filing ↗
68Section 02, Thomas South 2026-05-22Form 42026-05-260001751051-26-000010Insider equity transaction reported since the proxy statement. Filing ↗
69Section 02, Aengus Hallinan 2026-06-01Form 42026-06-020002071440-26-000004Insider equity transaction reported since the proxy statement. Filing ↗
70Section 02, Aengus Hallinan 2026-06-03Form 42026-06-040002071440-26-000006Insider equity transaction reported since the proxy statement. Filing ↗
71Section 02, Aengus Hallinan 2026-06-03Form 42026-06-040002071440-26-000006Insider equity transaction reported since the proxy statement. Filing ↗
72Section 02, Chandra Dhandapani 2026-06-30Form 42026-07-020001750288-26-000008Insider equity transaction reported since the proxy statement. Filing ↗
73Section 02, Dean M. Harrison 2026-06-30Form 42026-07-020001629460-26-000008Insider equity transaction reported since the proxy statement. Filing ↗
74Section 02, Donald Thompson 2026-06-30Form 42026-07-020001374074-26-000010Insider equity transaction reported since the proxy statement. Filing ↗
75Section 02, Susan Crown 2026-07-01Form 42026-07-020001124194-26-000013Insider equity transaction reported since the proxy statement. Filing ↗
76Section 02, Marcy S. Klevorn 2026-07-01Form 42026-07-020001692367-26-000011Insider equity transaction reported since the proxy statement. Filing ↗
77Section 02, Siddharth N. Bobby Mehta 2026-07-01Form 42026-07-020001321443-26-000008Insider equity transaction reported since the proxy statement. Filing ↗
78Section 02, Donald Thompson 2026-07-01Form 42026-07-020001374074-26-000010Insider equity transaction reported since the proxy statement. Filing ↗
79Section 02, Chandra Dhandapani 2026-07-01Form 42026-07-020001750288-26-000008Insider equity transaction reported since the proxy statement. Filing ↗
80Section 02, Dean M. Harrison 2026-07-01Form 42026-07-020001629460-26-000008Insider equity transaction reported since the proxy statement. Filing ↗
81Section 02, Richard Petrino 2026-07-01Form 42026-07-020001736600-26-000010Insider equity transaction reported since the proxy statement. Filing ↗
82Section 02, Martin P. Slark 2026-07-01Form 42026-07-020001012930-26-000008Insider equity transaction reported since the proxy statement. Filing ↗
83Section 02, Charles A. Tribbett III 2026-07-01Form 42026-07-020001323371-26-000008Insider equity transaction reported since the proxy statement. Filing ↗
84Section 02, Robert E. Moritz 2026-07-29Form 42026-07-300002033834-26-000019Insider equity transaction reported since the proxy statement. Filing ↗
85Section 02, David H. B. Smith Jr 2026-07-31Form 42026-08-040001478669-26-000015Insider equity transaction reported since the proxy statement. Filing ↗
86Section 02, Thomas South 2026-08-24Form 42026-08-250001751051-26-000014Insider equity transaction reported since the proxy statement. Filing ↗
87Section 02, Michael Hunstad 2026-09-01Form 42026-09-030002086167-26-000006Insider equity transaction reported since the proxy statement. Filing ↗
88Section 02, Chandra Dhandapani 2026-09-30Form 42026-10-020001750288-26-000010Insider equity transaction reported since the proxy statement. Filing ↗
89Section 02, Donald Thompson 2026-09-30Form 42026-10-020001374074-26-000012Insider equity transaction reported since the proxy statement. Filing ↗
90Section 02, Dean M. Harrison 2026-09-30Form 42026-10-020001629460-26-000010Insider equity transaction reported since the proxy statement. Filing ↗
91Section 02, Chandra Dhandapani 2026-10-01Form 42026-10-020001750288-26-000010Insider equity transaction reported since the proxy statement. Filing ↗
92Section 02, Richard Petrino 2026-10-01Form 42026-10-020001736600-26-000012Insider equity transaction reported since the proxy statement. Filing ↗
93Section 02, Susan Crown 2026-10-01Form 42026-10-020001124194-26-000016Insider equity transaction reported since the proxy statement. Filing ↗
94Section 02, Dean M. Harrison 2026-10-01Form 42026-10-020001629460-26-000010Insider equity transaction reported since the proxy statement. Filing ↗
95Section 02, Martin P. Slark 2026-10-01Form 42026-10-020001012930-26-000010Insider equity transaction reported since the proxy statement. Filing ↗
96Section 02, Donald Thompson 2026-10-01Form 42026-10-020001374074-26-000012Insider equity transaction reported since the proxy statement. Filing ↗
97Section 02, Charles A. Tribbett III 2026-10-01Form 42026-10-020001323371-26-000010Insider equity transaction reported since the proxy statement. Filing ↗
98Section 02, Marcy S. Klevorn 2026-10-01Form 42026-10-020001692367-26-000014Insider equity transaction reported since the proxy statement. Filing ↗
99Section 02, Siddharth N. Bobby Mehta 2026-10-01Form 42026-10-020001321443-26-000010Insider equity transaction reported since the proxy statement. Filing ↗
100Section 06, 2026 voteForm 8-K2026-04-220000073124-26-000031Item 5.07 · say-on-pay result. As reported: 94.03% (votes for as printed: 148,700,308). Filing ↗
101Section 06, 2025 voteForm 8-K2025-04-230000073124-25-000159Item 5.07 · say-on-pay result. As reported: 95.88% (votes for as printed: 160,197,683). Filing ↗
102Section 06, 2024 voteForm 8-K2024-04-190000073124-24-000155Item 5.07 · say-on-pay result. As reported: 94.86% (votes for as printed: 166,292,990). Filing ↗
103Section 01 trend, Δ column (computed)Computed——Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
104Section 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
105Section 09b board cost (computed)Computed——Cash 1,897,563 + equity 2,039,556 + all other 0 = 3,937,119, summed across the director compensation table rows.machine: formula: Σ = 3,937,119
106The Bank of New York Mellon Corporation, Section 10b CEO totalDEF 14A2026-03-050001193125-26-092500CEO total compensation as printed in The Bank of New York Mellon Corporation's own proxy. As printed: 83,472,970. Filing ↗machine: t239 · r3 · c34 · span 1121523–1121533
107BlackRock, 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
108The PNC Financial Services Group, Inc., Section 10b CEO totalDEF 14A2026-03-110001193125-26-102189CEO total compensation as printed in The PNC Financial Services Group, Inc.'s own proxy. As printed: 29,503,081. Filing ↗
109State Street Corporation, Section 10b CEO totalDEF 14A2026-04-080001140361-26-013817CEO total compensation as printed in State Street Corporation's own proxy. As printed: 19,529,070. Filing ↗machine: r2 · c25 · span 1621757–1621768
110The Charles Schwab Corporation, Section 10b CEO totalDEF 14A2026-04-060001193125-26-142826CEO total compensation as printed in The Charles Schwab Corporation's own proxy. As printed: 18,755,222. Filing ↗machine: span 943741–943751
111T. 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
112Franklin Resources, Inc., Section 10b CEO totalDEF 14A2025-12-220001140361-25-046314CEO total compensation as printed in Franklin Resources, Inc.'s own proxy. As printed: 16,844,816. Filing ↗machine: r8 · c22 · span 1261002–1261012
113U.S. Bancorp, Section 10b CEO totalDEF 14A2026-03-100001104659-26-025844CEO total compensation as printed in U.S. Bancorp's own proxy. As printed: 16,674,515. Filing ↗machine: r1 · c42 · span 1202461–1202471
114Truist Financial Corporation, Section 10b CEO totalDEF 14A2026-03-160001193125-26-107144CEO total compensation as printed in Truist Financial Corporation's own proxy. As printed: 14,313,770. Filing ↗machine: r4 · c39 · span 1270472–1270482
115M&T Bank Corporation, Section 10b CEO totalDEF 14A2026-03-100001193125-26-099298CEO total compensation as printed in M&T Bank Corporation's own proxy. As printed: 12,015,250. Filing ↗machine: r4 · c44 · span 1089966–1089976
116KeyCorp, Section 10b CEO totalDEF 14A2026-03-270001193125-26-127600CEO total compensation as printed in KeyCorp's own proxy. As printed: 11,522,025. Filing ↗machine: r4 · c27 · span 1106750–1106760
117Fifth Third Bancorp, Section 10b CEO totalDEF 14A2026-03-090001193125-26-098679CEO total compensation as printed in Fifth Third Bancorp's own proxy. As printed: 11,052,366. Filing ↗machine: r5 · c39 · span 1258762–1258772
118NORTHERN TRUST CORP (subject), Section 10b CEO totalDEF 14A2026-03-110000073124-26-000022CEO total compensation as printed in NORTHERN TRUST CORP's own proxy. As printed: 10,059,154. Filing ↗machine: r3 · c36 · span 1256395–1256406
119Section 10a, T. Rowe Price Group, Inc. reciprocityDEF 14A—0001104659-26-028876T. Rowe Price Group, Inc. names NORTHERN TRUST CORP in its own disclosed peer group (read from its most recent proxy). Filing ↗
120Section 10a, BlackRock, Inc. reciprocityDEF 14A—0001308179-26-000262BlackRock, Inc. names NORTHERN TRUST CORP in its own disclosed peer group (read from its most recent proxy). Filing ↗
121Section 10a, Fifth Third Bancorp reciprocityDEF 14A—0001193125-26-098679Fifth Third Bancorp's most recent proxy was read; its disclosed peer group does not include NORTHERN TRUST CORP. Filing ↗
122Section 10a, Franklin Resources, Inc. reciprocityDEF 14A—0001140361-25-046314Franklin Resources, Inc. names NORTHERN TRUST CORP in its own disclosed peer group (read from its most recent proxy). Filing ↗
123Section 10a, KeyCorp reciprocityDEF 14A—0001193125-26-127600KeyCorp's most recent proxy was read; its disclosed peer group does not include NORTHERN TRUST CORP. Filing ↗
124Section 10a, M&T Bank Corporation reciprocityDEF 14A—0001193125-26-099298M&T Bank Corporation's most recent proxy was read; its disclosed peer group does not include NORTHERN TRUST CORP. Filing ↗
125Section 10a, Truist Financial Corporation reciprocityDEF 14A—0001193125-26-107144Truist Financial Corporation's most recent proxy was read; its disclosed peer group does not include NORTHERN TRUST CORP. Filing ↗
126Section 10a, The Bank of New York Mellon Corporation reciprocityDEF 14A—0001193125-26-092500The Bank of New York Mellon Corporation names NORTHERN TRUST CORP in its own disclosed peer group (read from its most recent proxy). Filing ↗
127Section 10a, The Charles Schwab Corporation reciprocityDEF 14A—0001193125-26-142826The Charles Schwab Corporation names NORTHERN TRUST CORP in its own disclosed peer group (read from its most recent proxy). Filing ↗
128Section 10a, U.S. Bancorp reciprocityDEF 14A—0001104659-26-025844U.S. Bancorp's most recent proxy was read; its disclosed peer group does not include NORTHERN TRUST CORP. Filing ↗

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