T. Rowe Price management check
TROW · Financials · Asset Management & Custody Banks · CEO Mr. Sharps
Filings as of
4 good · 2 to watch · 1 flagged, across the seven questions below.
- Flag
Have owners done well?
Trailed its chosen peers$100 invested at the start of fiscal 2021 grew to $84, against $206 for the peer group the company picked itself.
- Good
Does pay follow performance?
Pay rose and fell with returnsOver 5 years, the CEO's pay actually paid (equity valued at the share price) had a correlation of 0.69 with shareholder return. 1 means pay moved in step; below 0, the opposite way.
- Good
What does the CEO cost owners?
0.8% of net income$17.2m of reported pay in fiscal 2025, against $2.2bn of net income.
- Watch
Do they own the stock?
Insiders are selling2 insiders sold $1.4m in the last six months and none bought.
- Good
Are owners being diluted?
Share count shrinkingDiluted shares changed -1.0% a year over the last three fiscal years. Stock-based pay was 3.0% of revenue in the latest year.
- Watch
Is leadership stable?
2 CEOs in the pay tableCEOs in the pay table: Mr. Stromberg, Mr. Sharps. 7 filings under 8-K item 5.02 (officers or directors leaving or joining, or new pay arrangements) in the last 3 years.
- Good
Are the books clean?
No red flags on fileNo restatements, auditor changes or late filings since 2021.
Against the S&P 500
Each check's score (0–100) and how it compares: the share of ranked S&P 500 companies it matches or beats, and the median in Financials.
| Check | Score | At or above | Sector median |
|---|---|---|---|
| Owner returns | 0 | 49 | |
| Pay for performance | 85 | 83 | |
| CEO cost | 59 | 67 | |
| Skin in the game | — | — | 51 |
| Dilution | 63 | 69 | |
| Stable leadership | 50 | 80 | |
| Clean books | 100 | 100 |
Closest peers
Others in Asset Management & Custody Banks, by management score. T. Rowe Price is 56th of 72 in its sector.
- 48STTState Street Corporation80
- 65APOApollo Global Management79
- 66NTRSNorthern Trust79
- 165BNYBNY Mellon71
- 171AMPAmeriprise Financial71
- 243BLKBlackRock65
- 268ARESAres Management63
- 329TROWT. Rowe Price59
- 390IVZInvesco55
- 420BENFranklin Resources50
Pay versus performance
From the proxy statement filed March 17, 2026. "Actually paid" values stock awards at the share price, so it rises and falls with the stock.
| Fiscal year | CEO | CEO pay | Actually paid | Other executives (avg) | $100 became | Peers | Net income |
|---|---|---|---|---|---|---|---|
| 2025 | Mr. Sharps | $17.2m | $16.0m | $7.4m | $84 | $206 | $2.2bn |
| 2024 | Mr. Sharps | $19.4m | $20.5m | $7.6m | $88 | $206 | $2.1bn |
| 2023 | Mr. Sharps | $12.8m | $13.5m | $8.1m | $80 | $147 | $1.8bn |
| 2022 | Mr. Sharps | $13.8m | $3.0m | $8.4m | $78 | $109 | $1.4bn |
| 2021 | Mr. Stromberg | $17.1m | $23.4m | $9.1m | $135 | $147 | $3.1bn |
The board says pay is tied most to net revenue. Its other key measures: Assets Under Management, Investment Performance, Net Income, Net Operating Income, Net Revenue, Non-GAAP Diluted Earnings per Share, Operating Margin.
Insiders and the CEO's stake
2 insiders sold $1.4m in the last six months and none bought.
- SoldJoshua B NelsonVice President$1.1mAug 25, 2026
- SoldStephon A. JacksonVice President$308kMay 13, 2026
Leadership and governance on file
- May 18, 2026Leadership change8-K 5.02
- Apr 22, 2026Leadership change8-K 5.02
- Nov 3, 2025Leadership change8-K 5.02
- Oct 16, 2025Leadership change8-K 5.02
- Oct 1, 2024Leadership change8-K 5.02
- Feb 20, 2024Leadership change8-K 5.02
- Nov 1, 2023Leadership change8-K 5.02
- Aug 3, 2023Leadership change8-K 5.02
- Mar 6, 2023Leadership change8-K 5.02
- Apr 8, 2022Leadership change8-K 5.02
- Dec 30, 2021Leadership change8-K 5.02
- Dec 8, 2021Leadership change8-K 5.02
Latest shareholder vote results: May 11, 2026, including the say-on-pay vote.
Where the money went
Over 2021–2025: $9.4bn returned to owners in buybacks and dividends, 89% of net income, and $1.3bn of pay in stock.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $7.7bn | $6.5bn | $6.5bn | $7.1bn | $7.3bn |
| Net income | $3.1bn | $1.6bn | $1.8bn | $2.1bn | $2.1bn |
| Stock-based pay | $274.6m | $285.4m | $265.6m | $247.3m | $216.9m |
| Buybacks | $1.1bn | $849.8m | $254.4m | $337.2m | $620.9m |
| Dividends | $1.7bn | $1.1bn | $1.1bn | $1.1bn | $1.1bn |
| Diluted shares | 229m | 227m | 225m | 223m | 220m |
Educational only, not investment advice. Figures are as filed with the SEC: pay from the proxy's pay-versus-performance table, capital allocation from 10-K XBRL data, insider trades from Form 4s over the last six months, events from the last 5 years of filings. The peer group is the one the company chose. See the method.