0001796022 2025-04-01 2026-03-31 0001796022 2023-04-01 2024-03-31 0001796022 2024-04-01 2025-03-31 0001796022 2021-04-01 2022-03-31 0001796022 2022-04-01 2023-03-31 0001796022 step:Mr.HartMember 2024-04-01 2025-03-31 0001796022 step:Mr.HartMember 2025-04-01 2026-03-31 0001796022 ecd:YrEndFrValOfEqtyAwrdsGrntdInCvrdYrOutsdngAndUnvstdMember ecd:PeoMember step:Mr.HartMember 2025-04-01 2026-03-31 0001796022 ecd:EqtyAwrdsInSummryCompstnTblForAplblYrMember ecd:PeoMember step:Mr.HartMember 2025-04-01 2026-03-31 0001796022 ecd:ChngInFrValAsOfVstngDtOfPrrYrEqtyAwrdsVstdInCvrdYrMember ecd:PeoMember step:Mr.HartMember 2025-04-01 2026-03-31 0001796022 ecd:ChngInFrValOfOutsdngAndUnvstdEqtyAwrdsGrntdInPrrYrsMember ecd:PeoMember step:Mr.HartMember 2025-04-01 2026-03-31 0001796022 ecd:ChngInFrValAsOfVstngDtOfPrrYrEqtyAwrdsVstdInCvrdYrMember ecd:NonPeoNeoMember 2025-04-01 2026-03-31 0001796022 ecd:ChngInFrValOfOutsdngAndUnvstdEqtyAwrdsGrntdInPrrYrsMember ecd:NonPeoNeoMember 2025-04-01 2026-03-31 0001796022 ecd:EqtyAwrdsInSummryCompstnTblForAplblYrMember ecd:NonPeoNeoMember 2025-04-01 2026-03-31 0001796022 ecd:YrEndFrValOfEqtyAwrdsGrntdInCvrdYrOutsdngAndUnvstdMember ecd:NonPeoNeoMember 2025-04-01 2026-03-31 0001796022 4 2025-04-01 2026-03-31 0001796022 5 2025-04-01 2026-03-31 0001796022 6 2025-04-01 2026-03-31 0001796022 1 2025-04-01 2026-03-31 0001796022 2 2025-04-01 2026-03-31 0001796022 3 2025-04-01 2026-03-31 0001796022 step:Mr.BremMember 2021-04-01 2022-03-31 0001796022 step:Mr.HartMember 2021-04-01 2022-03-31 0001796022 step:Mr.HartMember 2022-04-01 2023-03-31 0001796022 step:Mr.HartMember 2023-04-01 2024-03-31 iso4217:USD DEF 14A false STEPSTONE GROUP INC. true 0001796022 <div style="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman;font-weight:bold"><div style="font-style:italic;display:inline;">Practices on Timing of Equity Awards </div></div> <div style="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Since fiscal 2025, the Compensation Committee (and, for Mr. Hart and the other NEOs, the board of directors) has used consistent grant timing during a scheduled open trading window (as defined under the Company’s insider trading policy) that is aligned with StepStone’s fiscal year (rather than on a calendar year basis). For fiscal 2026, the Compensation Committee granted the annual RSU awards on March 13, 2026, which was during a scheduled open trading window. During fiscal 2026, the Compensation Committee did not take into account any material nonpublic information when determining the timing and terms of equity incentive awards, and we did not time the disclosure of material nonpublic information for the purpose of affecting the value of executive compensation. During fiscal 2026, we did not grant stock options to the NEOs. </div> true false <div style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman;font-weight:bold">Pay versus Performance Table </div><div style="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">As required by Section 953(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act, and Item 402(v) of Regulation <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">S-K,</div> we are providing the following information about the relationship between executive “compensation actually paid” and certain financial performance of the Company. For further information concerning the Company’s pay for performance philosophy and how the Company aligns executive compensation with the Company’s performance, see the “Compensation Discussion and Analysis” above. </div><div style="font-size:12pt;margin-top:0pt;margin-bottom:0pt"> </div> <table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt;width:100%;border-spacing:0;margin:0 auto"> <tr> <td style="width:25%"></td> <td style="vertical-align:bottom;width:1%"></td> <td></td> <td></td> <td></td> <td style="vertical-align:bottom;width:1%"></td> <td></td> <td></td> <td></td> <td style="vertical-align:bottom;width:1%"></td> <td></td> <td></td> <td></td> <td style="vertical-align:bottom;width:1%"></td> <td></td> <td></td> <td></td> <td style="vertical-align:bottom;width:1%"></td> <td></td> <td></td> <td></td> <td style="vertical-align:bottom;width:1%"></td> <td></td> <td></td> <td></td> <td style="vertical-align:bottom;width:1%"></td> <td></td> <td></td> <td></td> <td style="vertical-align:bottom"></td> <td></td> <td></td> <td style="vertical-align:bottom;width:1%"></td> <td style="vertical-align:bottom;width:1%"></td> <td></td> <td></td> <td></td> <td style="vertical-align:bottom;width:1%"></td> <td></td> <td></td> <td></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:7pt"> <td rowspan="2" style="vertical-align: bottom; white-space: nowrap; padding-bottom: 0.5pt;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 1pt solid rgb(0, 0, 0); display: table-cell; font-size: 7pt; font-family: "Times New Roman"; font-weight: bold; line-height: normal;">Year</div></td> <td rowspan="2" style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td colspan="2" rowspan="2" style="border-bottom:1.00pt solid #000000;vertical-align:bottom;text-align:center"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">Summary<br/> Compensation<br/> Table Total<br/> for Mr. Hart<br/> ($)<div style="font-size:75%; vertical-align:top;display:inline;font-size:5.8px">(1)</div></div></div></td> <td rowspan="2" style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td rowspan="2" style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td colspan="2" rowspan="2" style="border-bottom:1.00pt solid #000000;vertical-align:bottom;text-align:center"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">Summary<br/> Compensation<br/> Table Total<br/> for Mr. Brem<br/> ($)<div style="font-size:75%; vertical-align:top;display:inline;font-size:5.8px">(1)</div></div></div></td> <td rowspan="2" style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td rowspan="2" style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td colspan="2" rowspan="2" style="border-bottom:1.00pt solid #000000;vertical-align:bottom;text-align:center"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">Compensation<br/> Actually Paid<br/> to Mr. Hart<br/> ($)<div style="font-size:75%; vertical-align:top;display:inline;font-size:5.8px">(2)</div></div></div></td> <td rowspan="2" style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td rowspan="2" style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td colspan="2" rowspan="2" style="border-bottom:1.00pt solid #000000;vertical-align:bottom;text-align:center"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">Compensation<br/> Actually Paid<br/> to Mr. Brem<br/> ($)</div></div></td> <td rowspan="2" style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td rowspan="2" style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td colspan="2" rowspan="2" style="border-bottom:1.00pt solid #000000;vertical-align:bottom;text-align:center"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">Average<br/> Summary<br/> Compensation<br/> Table Total<br/> <div style="white-space:nowrap;display:inline;">for Non-PEO</div><br/> NEOs<br/> ($)<div style="font-size:75%; vertical-align:top;display:inline;font-size:5.8px">(3)</div></div></div></td> <td rowspan="2" style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td rowspan="2" style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td colspan="2" rowspan="2" style="border-bottom:1.00pt solid #000000;vertical-align:bottom;text-align:center"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">Average<br/> Compensation<br/> Actually Paid<br/> <div style="white-space:nowrap;display:inline;">to Non-PEO</div><br/> NEOs<br/> ($)<div style="font-size:75%; vertical-align:top;display:inline;font-size:5.8px">(4)</div></div></div></td> <td rowspan="2" style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td colspan="6" style="border-bottom:1.00pt solid #000000;vertical-align:bottom;white-space:nowrap;text-align:center"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">Value of Initial<br/> Fixed $100<br/> Investment Based On: </div></div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td rowspan="2" style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td colspan="2" rowspan="2" style="border-bottom:1.00pt solid #000000;vertical-align:bottom;text-align:center"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">Net<br/> Income<br/> ($ in<br/> thousands)<div style="font-size:75%; vertical-align:top;display:inline;font-size:5.8px">(7)</div></div></div></td> <td rowspan="2" style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td rowspan="2" style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td colspan="2" rowspan="2" style="border-bottom:1.00pt solid #000000;vertical-align:bottom;text-align:center"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">Fee-<br/> Related<br/> Earnings<br/> ($ in<br/> thousands)<div style="font-size:75%; vertical-align:top;display:inline;font-size:5.8px">(8)</div></div></div></td> <td rowspan="2" style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:7pt"> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td colspan="2" style="border-bottom:1.00pt solid #000000;vertical-align:bottom;text-align:center"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">TSR<br/> ($)<div style="font-size:75%; vertical-align:top;display:inline;font-size:5.8px">(5)</div></div></div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td colspan="2" style="border-bottom:1.00pt solid #000000;vertical-align:bottom;text-align:center"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">Peer Group<br/> TSR ($)<div style="font-size:75%; vertical-align:top;display:inline;font-size:5.8px">(6)</div></div></div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt;background-color:#cceeff"> <td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 8pt; font-family: "Times New Roman"; line-height: normal;">2026</div></td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">6,091,776</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">N/A</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">6,178,639</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">N/A</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">4,152,729</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">4,197,389</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">153.63</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">132.61</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">(743,276</td> <td style="white-space:nowrap;vertical-align:bottom">) </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">354,449</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 8pt; font-family: "Times New Roman"; line-height: normal;">2025</div></td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">4,705,412</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">N/A</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">5,528,770</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">N/A</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">3,581,133</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">4,079,119</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">163.64</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">132.90</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">(172,827</td> <td style="white-space:nowrap;vertical-align:bottom">) </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">312,204</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt;background-color:#cceeff"> <td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 8pt; font-family: "Times New Roman"; line-height: normal;">2024</div></td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">2,720,523</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">N/A</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">3,523,650</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">N/A</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">1,967,272</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">2,247,099</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">109.71</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">120.24</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">167,820</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">189,793</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 8pt; font-family: "Times New Roman"; line-height: normal;">2023</div></td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">3,595,256</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">N/A</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">2,353,504</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">N/A</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">3,202,157</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">2,688,046</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">71.63</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">93.61</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">(45,275</td> <td style="white-space:nowrap;vertical-align:bottom">) </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">156,158</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt;background-color:#cceeff"> <td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 8pt; font-family: "Times New Roman"; line-height: normal;">2022</div></td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">6,210,738</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">6,044,087</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">5,884,459</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">6,044,087</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">5,994,832</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">5,911,642</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">94.80</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">106.70</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">484,281</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">122,242</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr></table><div style="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:11%"> </div> <table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;border-spacing:0;width:100%"> <tr style="page-break-inside:avoid"> <td style="width:4%;vertical-align:top;text-align:left">(1)</td> <td style="vertical-align:top;text-align:left"><div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: "Times New Roman"; text-align: left; line-height: normal;">Messrs. Hart and Brem served as <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">Co-Chief</div> Executive Officers during fiscal 2022 until January 1, 2022, at which point Mr. Brem transitioned to Executive Chairman and Mr. Hart became the sole Chief Executive Officer. The dollar amounts reported in these columns represent the amounts reported for Messrs. Hart and Brem as total compensation in our Summary Compensation Table for each of the corresponding fiscal years. See “Executive Compensation Tables—Summary Compensation Table” above. </div></td></tr></table> <table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;border-spacing:0;width:100%"> <tr style="page-break-inside:avoid"> <td style="width:4%;vertical-align:top;text-align:left">(2)</td> <td style="vertical-align:top;text-align:left"><div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: "Times New Roman"; text-align: left; line-height: normal;">The dollar amounts reported in this column represent the “compensation actually paid” to <div style="display:inline;">Mr. Hart</div>, as computed in accordance with Item 402(v) of Regulation <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">S-K</div> and do not reflect the total compensation actually realized or received by Mr. Hart. In accordance with these rules, these amounts reflect total compensation as reported in the Summary Compensation Table for each fiscal year, adjusted as shown below for fiscal 2026. Equity values are calculated in accordance with FASB ASC Topic 718, and the valuation assumptions used to calculate fair values did not materially differ from those disclosed at the time of grant. </div></td></tr></table><div style="font-size:12pt;margin-top:0pt;margin-bottom:0pt"> </div> <table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt;width:92%;border-spacing:0;margin:0 auto"> <tr> <td style="width:88%"></td> <td style="vertical-align:bottom;width:3%"></td> <td></td> <td></td> <td></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td colspan="2" style="border-bottom:1.00pt solid #000000;vertical-align:bottom;text-align:center"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">2026</div></div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt;background-color:#cceeff"> <td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 8pt; font-family: "Times New Roman"; line-height: normal;">Summary Compensation Table Total</div></td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">6,091,776</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 3em; text-indent: -1em; font-size: 8pt; font-family: "Times New Roman"; line-height: normal;">Less, value of “Stock Awards” reported in Summary Compensation Table</div></td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">(1,249,985</td> <td style="white-space:nowrap;vertical-align:bottom">) </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt;background-color:#cceeff"> <td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 3em; text-indent: -1em; font-size: 8pt; font-family: "Times New Roman"; line-height: normal;">Plus, <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">year-end</div> fair value of outstanding and unvested equity awards granted in the year</div></td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">1,322,894</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 3em; text-indent: -1em; font-size: 8pt; font-family: "Times New Roman"; line-height: normal;">Plus (less), year over year change in fair value of outstanding and unvested equity awards granted in prior years</div></td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">(80,834</td> <td style="white-space:nowrap;vertical-align:bottom">) </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt;background-color:#cceeff"> <td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 3em; text-indent: -1em; font-size: 8pt; font-family: "Times New Roman"; line-height: normal;">Plus (less), change in fair value from prior <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">year-end</div> to vesting date of equity awards granted in prior years that vested in the year</div></td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">94,788</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 8pt; font-family: "Times New Roman"; font-weight: bold; line-height: normal;">Compensation Actually Paid to Mr. Hart</div></td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">6,178,639</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr></table><div style="font-size:12pt;margin-top:0pt;margin-bottom:0pt"> </div> <table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;border-spacing:0;width:100%"> <tr style="page-break-inside:avoid"> <td style="width:4%;vertical-align:top;text-align:left">(3)</td> <td style="vertical-align:top;text-align:left"><div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: "Times New Roman"; text-align: left; line-height: normal;">The dollar amounts reported in this column represent the average of the amounts reported for the Company’s named executive officers (NEOs) as a group (excluding Messrs. Hart and Brem) as total compensation in our Summary Compensation Table for each of the corresponding fiscal years. The names of each of the NEOs included for these purposes is as follows: (i) for fiscal 2025 and fiscal 2026, Messrs. Park, Ment, Fernandez, and McCabe; (ii) for fiscal 2024, Messrs. Park, Ment, Fernandez, McCabe and Johnny Randel (our former Chief Financial Officer); and (iii) for fiscal 2023 and fiscal 2022, Messrs. Randel, Ment, Fernandez and McCabe. </div></td></tr></table> <table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;border-spacing:0;width:100%"> <tr style="page-break-inside:avoid"> <td style="width:4%;vertical-align:top;text-align:left">(4)</td> <td style="vertical-align:top;text-align:left"><div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: "Times New Roman"; text-align: left; line-height: normal;">The dollar amounts reported in this column represent the “compensation actually paid” to the NEOs as a group (excluding Messrs. Hart and Brem), as computed in accordance with Item 402(v) of Regulation <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">S-K.</div> In accordance with these rules, these amounts reflect total compensation as reported in the Summary </div></td></tr></table> <table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;border-spacing:0;width:100%"> <tr style="page-break-inside:avoid"> <td style="width:4%"> </td> <td style="vertical-align:top;text-align:left">Compensation Table for each fiscal year, adjusted as shown below for fiscal 2026. Equity values are calculated in accordance with FASB ASC Topic 718, and the valuation assumptions used to calculate fair values did not materially differ from those disclosed at the time of grant. </td></tr></table><div style="font-size:12pt;margin-top:0pt;margin-bottom:0pt"> </div> <table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt;width:92%;border-spacing:0;margin:0 auto"> <tr> <td style="width:89%"></td> <td style="vertical-align:bottom;width:3%"></td> <td></td> <td></td> <td></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td colspan="2" style="border-bottom:1.00pt solid #000000;vertical-align:bottom;text-align:center"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">2026</div></div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt;background-color:#cceeff"> <td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 8pt; font-family: "Times New Roman"; line-height: normal;">Average Summary Compensation Table Total</div></td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">4,152,729</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 3em; text-indent: -1em; font-size: 8pt; font-family: "Times New Roman"; line-height: normal;">Less, average value of “Stock Awards” reported in Summary Compensation Table</div></td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">(696,877</td> <td style="white-space:nowrap;vertical-align:bottom">) </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt;background-color:#cceeff"> <td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 3em; text-indent: -1em; font-size: 8pt; font-family: "Times New Roman"; line-height: normal;">Plus, average <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">year-end</div> fair value of outstanding and unvested equity awards granted in the year</div></td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">737,525</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 3em; text-indent: -1em; font-size: 8pt; font-family: "Times New Roman"; line-height: normal;">Plus (less), average year over year change in fair value of outstanding and unvested equity awards granted in prior years</div></td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">(41,988</td> <td style="white-space:nowrap;vertical-align:bottom">) </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt;background-color:#cceeff"> <td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 3em; text-indent: -1em; font-size: 8pt; font-family: "Times New Roman"; line-height: normal;">Plus (less), average change in fair value from prior <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">year-end</div> to vesting date of equity awards granted in prior years that vested in the year</div></td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">46,000</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 8pt; font-family: "Times New Roman"; font-weight: bold; line-height: normal;">Average Compensation Actually Paid to <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">Non-PEO</div> NEOs</div></td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">4,197,389</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr></table><div style="font-size:12pt;margin-top:0pt;margin-bottom:0pt"> </div> <table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;border-spacing:0;width:100%"> <tr style="page-break-inside:avoid"> <td style="width:4%;vertical-align:top;text-align:left">(5)</td> <td style="vertical-align:top;text-align:left"><div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: "Times New Roman"; text-align: left; line-height: normal;">Total Shareholder Return (TSR) is calculated by dividing (a) the sum of (i) the cumulative amount of dividends for the measurement period, assuming dividend reinvestment, and (ii) the difference between the Company’s share price at the end of each fiscal year shown and the beginning of the measurement period, by (b) the Company’s share price at the beginning of the measurement period. The beginning of the measurement period for each year in the table is March 31, 2021, the last day of the Company’s fiscal year prior to fiscal year 2022. </div></td></tr></table> <table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;border-spacing:0;width:100%"> <tr style="page-break-inside:avoid"> <td style="width:4%;vertical-align:top;text-align:left">(6)</td> <td style="vertical-align:top;text-align:left"><div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: "Times New Roman"; text-align: left; line-height: normal;">The peer group used for this purpose is the following published industry index: Dow Jones US Asset Managers Index. </div></td></tr></table> <table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;border-spacing:0;width:100%"> <tr style="page-break-inside:avoid"> <td style="width:4%;vertical-align:top;text-align:left">(7)</td> <td style="vertical-align:top;text-align:left"><div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: "Times New Roman"; text-align: left; line-height: normal;">The dollar amounts reported represent the amount of net income reflected in the Company’s audited financial statements for the applicable year. </div></td></tr></table> <table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;border-spacing:0;width:100%"> <tr style="page-break-inside:avoid"> <td style="width:4%;vertical-align:top;text-align:left">(8)</td> <td style="vertical-align:top;text-align:left"><div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: "Times New Roman"; text-align: left; line-height: normal;">The dollar amounts reported represent the amount of FRE for the applicable year. FRE is a <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">non-GAAP</div> performance measure and is composed of fee revenues, less adjusted expenses which are operating expenses other than (a) performance <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">fee-related</div> compensation, (b) equity-based compensation for awards granted prior to and in connection with our initial public offering (“IPO”), profits interests issued by our <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">non-wholly</div> owned subsidiaries, and unrealized <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;"><div style="white-space:nowrap;display:inline;">mark-to-market</div></div> changes in the fair value of the profits interests issued in connection with the arrangements we entered into with the StepStone Private Wealth management team in November 2022, (c) amortization of intangibles, (d) charges associated with acquisitions and transactions, and (e) certain other items that we believe are not indicative of our core operating performance. FRE is presented before income taxes. </div></td></tr></table> 6091776 6178639 4152729 4197389 153.63 132.61

-743276000

354449000 4705412 5528770 3581133 4079119 163.64 132.9

-172827000

312204000 2720523 3523650 1967272 2247099 109.71 120.24

167820000

189793000 3595256 2353504 3202157 2688046 71.63 93.61

-45275000

156158000 6210738 6044087 5884459 6044087 5994832 5911642 94.8 106.7

484281000

122242000 Mr. Hart <table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;border-spacing:0;width:100%"> <tr style="page-break-inside:avoid"> <td style="width:4%;vertical-align:top;text-align:left">(2)</td> <td style="vertical-align:top;text-align:left"><div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: "Times New Roman"; text-align: left; line-height: normal;">The dollar amounts reported in this column represent the “compensation actually paid” to <div style="display:inline;">Mr. Hart</div>, as computed in accordance with Item 402(v) of Regulation <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">S-K</div> and do not reflect the total compensation actually realized or received by Mr. Hart. In accordance with these rules, these amounts reflect total compensation as reported in the Summary Compensation Table for each fiscal year, adjusted as shown below for fiscal 2026. Equity values are calculated in accordance with FASB ASC Topic 718, and the valuation assumptions used to calculate fair values did not materially differ from those disclosed at the time of grant. </div></td></tr></table><div style="font-size:12pt;margin-top:0pt;margin-bottom:0pt"> </div> <table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt;width:92%;border-spacing:0;margin:0 auto"> <tr> <td style="width:88%"></td> <td style="vertical-align:bottom;width:3%"></td> <td></td> <td></td> <td></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td colspan="2" style="border-bottom:1.00pt solid #000000;vertical-align:bottom;text-align:center"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">2026</div></div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt;background-color:#cceeff"> <td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 8pt; font-family: "Times New Roman"; line-height: normal;">Summary Compensation Table Total</div></td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">6,091,776</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 3em; text-indent: -1em; font-size: 8pt; font-family: "Times New Roman"; line-height: normal;">Less, value of “Stock Awards” reported in Summary Compensation Table</div></td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">(1,249,985</td> <td style="white-space:nowrap;vertical-align:bottom">) </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt;background-color:#cceeff"> <td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 3em; text-indent: -1em; font-size: 8pt; font-family: "Times New Roman"; line-height: normal;">Plus, <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">year-end</div> fair value of outstanding and unvested equity awards granted in the year</div></td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">1,322,894</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 3em; text-indent: -1em; font-size: 8pt; font-family: "Times New Roman"; line-height: normal;">Plus (less), year over year change in fair value of outstanding and unvested equity awards granted in prior years</div></td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">(80,834</td> <td style="white-space:nowrap;vertical-align:bottom">) </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt;background-color:#cceeff"> <td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 3em; text-indent: -1em; font-size: 8pt; font-family: "Times New Roman"; line-height: normal;">Plus (less), change in fair value from prior <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">year-end</div> to vesting date of equity awards granted in prior years that vested in the year</div></td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">94,788</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 8pt; font-family: "Times New Roman"; font-weight: bold; line-height: normal;">Compensation Actually Paid to Mr. Hart</div></td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">6,178,639</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr></table> 6091776 -1249985 1322894 -80834 94788 6178639 The names of each of the NEOs included for these purposes is as follows: (i) for fiscal 2025 and fiscal 2026, Messrs. Park, Ment, Fernandez, and McCabe; (ii) for fiscal 2024, Messrs. Park, Ment, Fernandez, McCabe and Johnny Randel (our former Chief Financial Officer); and (iii) for fiscal 2023 and fiscal 2022, Messrs. Randel, Ment, Fernandez and McCabe. <table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;border-spacing:0;width:100%"> <tr style="page-break-inside:avoid"> <td style="width:4%;vertical-align:top;text-align:left">(4)</td> <td style="vertical-align:top;text-align:left"><div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: "Times New Roman"; text-align: left; line-height: normal;">The dollar amounts reported in this column represent the “compensation actually paid” to the NEOs as a group (excluding Messrs. Hart and Brem), as computed in accordance with Item 402(v) of Regulation <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">S-K.</div> In accordance with these rules, these amounts reflect total compensation as reported in the Summary </div></td></tr></table> <table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;border-spacing:0;width:100%"> <tr style="page-break-inside:avoid"> <td style="width:4%"> </td> <td style="vertical-align:top;text-align:left">Compensation Table for each fiscal year, adjusted as shown below for fiscal 2026. Equity values are calculated in accordance with FASB ASC Topic 718, and the valuation assumptions used to calculate fair values did not materially differ from those disclosed at the time of grant. </td></tr></table><div style="font-size:12pt;margin-top:0pt;margin-bottom:0pt"> </div> <table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt;width:92%;border-spacing:0;margin:0 auto"> <tr> <td style="width:89%"></td> <td style="vertical-align:bottom;width:3%"></td> <td></td> <td></td> <td></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td colspan="2" style="border-bottom:1.00pt solid #000000;vertical-align:bottom;text-align:center"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">2026</div></div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt;background-color:#cceeff"> <td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 8pt; font-family: "Times New Roman"; line-height: normal;">Average Summary Compensation Table Total</div></td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">4,152,729</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 3em; text-indent: -1em; font-size: 8pt; font-family: "Times New Roman"; line-height: normal;">Less, average value of “Stock Awards” reported in Summary Compensation Table</div></td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">(696,877</td> <td style="white-space:nowrap;vertical-align:bottom">) </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt;background-color:#cceeff"> <td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 3em; text-indent: -1em; font-size: 8pt; font-family: "Times New Roman"; line-height: normal;">Plus, average <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">year-end</div> fair value of outstanding and unvested equity awards granted in the year</div></td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">737,525</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 3em; text-indent: -1em; font-size: 8pt; font-family: "Times New Roman"; line-height: normal;">Plus (less), average year over year change in fair value of outstanding and unvested equity awards granted in prior years</div></td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">(41,988</td> <td style="white-space:nowrap;vertical-align:bottom">) </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt;background-color:#cceeff"> <td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 3em; text-indent: -1em; font-size: 8pt; font-family: "Times New Roman"; line-height: normal;">Plus (less), average change in fair value from prior <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">year-end</div> to vesting date of equity awards granted in prior years that vested in the year</div></td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">46,000</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 8pt; font-family: "Times New Roman"; font-weight: bold; line-height: normal;">Average Compensation Actually Paid to <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">Non-PEO</div> NEOs</div></td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">4,197,389</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr></table> 4152729 -696877 737525 -41988 46000 4197389 The peer group used for this purpose is the following published industry index: Dow Jones US Asset Managers Index. FRE FRE is a <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">non-GAAP</div> performance measure and is composed of fee revenues, less adjusted expenses which are operating expenses other than (a) performance <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">fee-related</div> compensation, (b) equity-based compensation for awards granted prior to and in connection with our initial public offering (“IPO”), profits interests issued by our <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">non-wholly</div> owned subsidiaries, and unrealized <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;"><div style="white-space:nowrap;display:inline;">mark-to-market</div></div> changes in the fair value of the profits interests issued in connection with the arrangements we entered into with the StepStone Private Wealth management team in November 2022, (c) amortization of intangibles, (d) charges associated with acquisitions and transactions, and (e) certain other items that we believe are not indicative of our core operating performance. FRE is presented before income taxes. <div style="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman;font-weight:bold">Financial Performance Measures </div><div style="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">As described further under the “Compensation Discussion and Analysis” above, the Company’s executive compensation program reflects our performance-based compensation culture. Although a large portion of our executive compensation program relies heavily on equity ownership and carried interest awards to create a direct link between the compensation realized by our NEOs and the interests of our stockholders and our clients, our annual bonus program utilizes a number of financial and <div style="white-space:nowrap;display:inline;">non-financial</div> performance measures to link executive compensation actually paid for fiscal 2026 to the Company’s performance: </div><div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt"> </div> <table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;border-spacing:0;width:100%"> <tr style="page-break-inside:avoid"> <td style="width:5%"> </td> <td style="width:3%;vertical-align:top;text-align:left">•</td> <td style="width:1%;vertical-align:top"> </td> <td style="vertical-align:top;text-align:left"><div style="margin-top: 0pt; margin-bottom: 0pt; font-family: "Times New Roman"; font-size: 10pt; text-align: left; line-height: normal;">FRE; </div></td></tr></table><div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt"> </div> <table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;border-spacing:0;width:100%"> <tr style="page-break-inside:avoid"> <td style="width:5%"> </td> <td style="width:3%;vertical-align:top;text-align:left">•</td> <td style="width:1%;vertical-align:top"> </td> <td style="vertical-align:top;text-align:left"><div style="margin-top: 0pt; margin-bottom: 0pt; font-family: "Times New Roman"; font-size: 10pt; text-align: left; line-height: normal;">FRE margin; </div></td></tr></table><div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt"> </div> <table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;border-spacing:0;width:100%"> <tr style="page-break-inside:avoid"> <td style="width:5%"> </td> <td style="width:3%;vertical-align:top;text-align:left">•</td> <td style="width:1%;vertical-align:top"> </td> <td style="vertical-align:top;text-align:left"><div style="margin-top: 0pt; margin-bottom: 0pt; font-family: "Times New Roman"; font-size: 10pt; text-align: left; line-height: normal;">FEAUM; </div></td></tr></table><div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt"> </div> <table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;border-spacing:0;width:100%"> <tr style="page-break-inside:avoid"> <td style="width:5%"> </td> <td style="width:3%;vertical-align:top;text-align:left">•</td> <td style="width:1%;vertical-align:top"> </td> <td style="vertical-align:top;text-align:left"><div style="margin-top: 0pt; margin-bottom: 0pt; font-family: "Times New Roman"; font-size: 10pt; text-align: left; line-height: normal;">adjusted net income per share; </div></td></tr></table><div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt"> </div> <table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;border-spacing:0;width:100%"> <tr style="page-break-inside:avoid"> <td style="width:5%"> </td> <td style="width:3%;vertical-align:top;text-align:left">•</td> <td style="width:1%;vertical-align:top"> </td> <td style="vertical-align:top;text-align:left"><div style="margin-top: 0pt; margin-bottom: 0pt; font-family: "Times New Roman"; font-size: 10pt; text-align: left; line-height: normal;">client relationship management; and </div></td></tr></table><div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt"> </div> <table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;border-spacing:0;width:100%"> <tr style="page-break-inside:avoid"> <td style="width:5%"> </td> <td style="width:3%;vertical-align:top;text-align:left">•</td> <td style="width:1%;vertical-align:top"> </td> <td style="vertical-align:top;text-align:left"><div style="margin-top: 0pt; margin-bottom: 0pt; font-family: "Times New Roman"; font-size: 10pt; text-align: left; line-height: normal;">team and culture management. </div></td></tr></table> FRE FRE margin FEAUM adjusted net income per share client relationship management team and culture management <div style="margin-top:0pt;margin-bottom:0pt;text-align:center"> <img alt="LOGO" src="g57750g30a01.jpg" style="width:5.11443in;height:3.15837in"/> </div><div style="font-size:12pt;margin-top:0pt;margin-bottom:0pt"> </div> <div style="margin-top:0pt;margin-bottom:0pt;text-align:center"> <img alt="LOGO" src="g57750g30a01.jpg" style="width:5.11443in;height:3.15837in"/> </div><div style="font-size:12pt;margin-top:0pt;margin-bottom:0pt"> </div> <div style="margin-top:0pt;margin-bottom:0pt;text-align:center"></div><div style="margin-top:0pt;margin-bottom:0pt;text-align:center"> <img alt="LOGO" src="g57750g30a02.jpg" style="width:5.11112in;height:3.19073in"/> </div><div style="margin-top:0pt;margin-bottom:0pt ; font-size:8pt"> </div> <div style="margin-top:0pt;margin-bottom:0pt;text-align:center"></div><div style="margin-top:0pt;margin-bottom:0pt;text-align:center"> <img alt="LOGO" src="g57750g31a01.jpg" style="width:5.11443in;height:3.09888in"/> </div><div style="margin-top:0pt;margin-bottom:0pt ; font-size:8pt"> </div>