Form 4: FactSet EVP Ellis Earns Performance Shares

FactSet Research Systems Inc. EVP Christopher R. Ellis earned 352 Performance Share Units (PSUs) on September 15, 2025, which are scheduled to vest on November 1, 2025.

Summary

• Christopher R. Ellis, Executive Vice President of Initiatives & Partnerships at FactSet Research Systems Inc. (FDS), reported the earning of 352 Performance Share Units (PSUs).
• The PSUs were earned upon the achievement of specific performance goals, as certified by the Compensation and Talent Committee on September 15, 2025.
• Each PSU corresponds 1-for-1 with FactSet Common Stock.
• The PSUs are scheduled to vest on November 1, 2025, contingent upon Mr. Ellis's continuous employment with the Issuer until that date.
• The transaction date for earning these PSUs was September 15, 2025, with a reported acquisition price of $0, typical for performance-based grants.
• Following this transaction, Mr. Ellis beneficially owns 352 derivative securities (PSUs) directly.
• A Power of Attorney was executed on August 12, 2025, authorizing designated individuals to file Section 16 forms on behalf of Christopher R. Ellis.

Sentiment

Score: 7

Explanation: The earning of performance-based equity is a positive indicator of executive performance and alignment with company goals, though it is a routine compensation disclosure rather than a significant operational or financial announcement.

Positives

• The earning of Performance Share Units indicates that FactSet's Compensation and Talent Committee certified the achievement of specific performance goals, suggesting positive operational results or strategic milestones were met.
• The grant of PSUs aligns executive incentives with shareholder interests, as the value of these units is tied to the company's common stock and future performance.

Risks

• The vesting of the 352 Performance Share Units on November 1, 2025, is conditional upon Christopher R. Ellis remaining continuously employed by FactSet Research Systems Inc. until that date, posing a retention risk for the executive.

Future Outlook

The 352 Performance Share Units are scheduled to vest on November 1, 2025, provided the reporting person remains continuously employed by the Issuer on that date.

Industry Context

This filing represents a routine executive compensation event, common across publicly traded companies, where performance-based equity awards are granted to align management incentives with long-term company performance and shareholder value. It does not reflect broader industry trends or competitive shifts.

Corporate Governance

Stakeholder Impact

• Shareholders: The certification of performance goals and subsequent earning of PSUs suggest that management is meeting objectives, which can be viewed positively as it aligns executive incentives with shareholder value creation.
• Employees: The vesting condition of continuous employment highlights the company's strategy to retain key executives.

Next Steps

• The 352 Performance Share Units are scheduled to vest on November 1, 2025, subject to continuous employment.

Key Dates

Recommendation

This Form 4 reports a routine grant of performance-based compensation to an executive. It does not contain information that would materially alter the investment thesis for FactSet Research Systems Inc. The earning of PSUs indicates performance goals were met, which is generally positive, but not a significant catalyst for a change in stock recommendation.

Keywords

FactSet, FDS, Performance Share Units, PSUs, Executive Compensation, Insider Transaction, SEC Form 4, Equity Grant, Corporate Governance