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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
 
Washington, D.C. 20549
 
 
FORM 8-K
 
CURRENT REPORT
 
Pursuant to Section 13 or 15(d) of the
 
Securities Exchange Act of 1934
 
Date of Report: October 15, 2024
 
 
S&P Global Inc.
 
(Exact Name of Registrant as specified in its charter)
 
New York1-102313-1026995
(State or other jurisdiction of incorporation or organization)(Commission File No.)(IRS Employer Identification No.)
 
55 Water Street, New York, New York 10041
(Address of Principal Executive Offices) (Zip Code)
 
(212) 438-1000
(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
 
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) 
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading SymbolName of Exchange on which registered
Common stock (par value $1.00 per share)SPGINew York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
            Emerging growth company                ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.                                             ☐


Item 5.02.   Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
 
On October 15, 2024, S&P Global Inc. (the "Company") announced the appointment of Eric Aboaf, age 60, as Chief Financial Officer. Mr. Aboaf's appointment is anticipated to become effective in February of 2025 and in no event later than March 25, 2025.

Mr. Aboaf has been Chief Financial Officer of State Street Corporation since 2016 and Vice Chairman of the same since 2022. In these roles, he was responsible for the company’s global financial strategy and finance functions, including treasury, accounting, tax, reporting, strategy and M&A, and investor relations, and he also oversaw its Markets and Financing business. Prior to that, he served as Chief Financial Officer of Citizens Financial Group and prior to that held various leadership roles in finance at Citigroup.

Mr. Aboaf will receive an annual base salary from the Company of $825,000. He will participate in the Company’s Key Executive Short-Term Incentive Compensation Plan with a target incentive opportunity of $1,800,000, and his award for 2025 shall be prorated based on the number of days in 2025 that he is employed with the Company. He also will receive annual equity-based awards for 2025, with a target incentive opportunity of $6,500,000, of which a portion will be granted as performance share units ("PSUs") and a portion as time-based restricted stock units ("RSUs"), as determined by the Compensation and Leadership Development Committee of the Company's Board of Directors (the "Compensation Committee"). Mr. Aboaf will be eligible to receive all benefits that are generally made available to all employees of the Company at comparable levels.

In light of the compensation from his current employer that he will be forfeiting, Mr. Aboaf will receive a one-time signing bonus in the amount of $2,400,000, payable within sixty days of his start date. Such one-time signing bonus is subject to repayment if Mr. Aboaf voluntarily separates from the Company or he is terminated for misconduct, in each case, within twelve months of his start date. In addition, in lieu of equity awards from his current employer that he will be forfeiting, following his start date, Mr. Aboaf will receive a one-time equity award in the amount of $5,900,000 (the "Equity Award") comprised of RSUs and PSUs, subject to his providing documentation of such equity forfeitures by his prior employer. Such Equity Award will be subject to the terms and conditions of the Company’s 2019 Stock Incentive Plan and the associated award agreements. The RSU portion of the Equity Award will have a grant value of $1,770,000, which amount shall be converted into a number of units using the ten-day average closing price of the Company’s common stock preceding the grant date and will vest in three equal installments on the first, second and third anniversaries of the grant date, subject to continued employment through each vesting date. The PSU portion of the Equity Award will have target value of $4,130,000, which amount shall be converted into a target number of units using the ten-day average closing price of the Company’s common stock preceding the grant date and will vest at the end of a three-year performance period, subject to achievement of financial performance metrics determined by the Compensation Committee. Following the fifth anniversary of Mr. Aboaf's start date and subject to remaining in good standing with the Company, for any outstanding RSUs and PSUs whose grant date is at least one year prior to Mr. Aboaf's retirement date, he shall be eligible for continued vesting on the original payment date, subject to the terms and conditions of the applicable award, with payout on any PSU award to be based on actual performance for such PSU award. The foregoing treatment takes precedence over any language in the Senior Executive Severance Plan or any other document or agreement that would cause Mr. Aboaf to lose more than one year of any unvested or outstanding award.

There are no family relationships between Mr. Aboaf and any director or executive officer of the Company, and there are no relationships or related transactions between Mr. Aboaf and the Company required to be reported. State Street Corporation is not a parent, subsidiary or other affiliate of the Company.
 
Item 7.01. Regulation FD Disclosure.

A copy of the Company’s press release announcing the foregoing appointment is attached hereto as Exhibit 99 and is incorporated by reference in this Item 7.01. Pursuant to general instruction B.2 to Form 8-K, the information furnished pursuant to Item 7.01, including Exhibit 99, shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section.
 
 
Item 9.01.   Financial Statements and Exhibits.
 
(d) Exhibits. The following exhibits are furnished with this report:
 
(104)    Cover Page Interactive Data File (formatted as Inline XBRL).




SIGNATURES
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Form 8-K Report to be signed on its behalf by the undersigned hereunto duly authorized.
 
S&P Global Inc.
 /s/  Alma Rosa Montanez 
 By:Alma Rosa Montanez
  Assistant Corporate Secretary & Chief Corporate Counsel
 
Dated: October 15, 2024

 



image_0a.jpg    
                                 55 Water Street
New York, NY 10041
www.spglobal.com

Press Release
For Immediate Release


S&P Global Appoints Eric Aboaf as Chief Financial Officer
 
NEW YORK, October 15, 2024 /PRNewswire/ -- S&P Global (NYSE: SPGI) today announced the appointment of Eric Aboaf as Chief Financial Officer, effective February 2025. As an Executive Vice President and member of the Executive Leadership Team, Mr. Aboaf will oversee all aspects of the company’s Finance function. He will report to Ms. Martina L. Cheung, S&P Global’s incoming President and CEO. Ms. Cheung, as previously announced, assumes her role on November 1, 2024. 
 
“Eric brings a wealth of experience in financial services having held CFO roles for multiple publicly traded companies,” said Ms. Cheung. “With a well-established record of driving sustainable growth, as well as a deep understanding of the markets and regulatory landscape in which we operate, he will help ensure we continue to deliver strong value for our shareholders in alignment with our strategy.” 
 
Mr. Aboaf joins S&P Global from State Street Corporation (NYSE: STT) where he has served as the company’s Chief Financial Officer for nearly eight years, as well as Vice Chairman since 2022. In these roles, he was responsible for the company’s global financial strategy and finance functions, including treasury, accounting, tax, reporting, strategy and M&A, and investor relations. He also oversaw its Markets and Financing business. State Street Corporation is a leading financial services company for institutional investors with $44 trillion in assets under custody with approximately 53,000 employees worldwide. 
 
Prior to his roles at State Street Corporation, Eric served as CFO for Citizens Financial Group, one of the largest regional banks in the United States, where he led all financial functions of the company with a focus on driving growth, expanding net interest margin, and leading efficient capital allocation programs. He also previously held senior financial roles during his twelve years with Citigroup, including as Treasurer where he managed the company’s $1.9 trillion balance sheet. Earlier in his career, Eric was a partner at Bain & Company where he co-led the US financial services consulting practice and focused on growth


strategy. 
 
Eric graduated summa cum laude from The Wharton School, earned a master’s degree from the Massachusetts Institute of Technology, and serves as Board Chair of the New York City Urban Debate League. 
 
“I am thrilled Eric will join the Company and bring his broad experience as a CFO,” said Douglas L. Peterson, President and Chief Executive Officer of S&P Global. “And I would also like to thank Christopher Craig who will continue to serve in his Interim CFO capacity until Eric joins the Company in February. Chris has been a great partner over this period and has positioned Eric for a smooth and seamless transition.” 
 
About S&P Global 
S&P Global (NYSE: SPGI) provides essential intelligence. We enable governments, businesses and individuals with the right data, expertise and connected technology so that they can make decisions with conviction. From helping our customers assess new investments to guiding them through sustainability and energy transition across supply chains, we unlock new opportunities, solve challenges and accelerate progress for the world.  
 
We are widely sought after by many of the world's leading organizations to provide credit ratings, benchmarks, analytics and workflow solutions in the global capital, commodity and automotive markets. With every one of our offerings, we help the world's leading organizations plan for tomorrow, today. For more information visit www.spglobal.com. 
 
###

Investor Relations: 
Mark Grant 
Senior Vice President, Investor Relations 
Tel: +1 (347) 640-1521 
mark.grant@spglobal.com 
 
Media:  
Christina Twomey 
Global Head of Communications 
Tel: +1 (410) 382-3316 
christina.twomey@spglobal.com 


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