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Pzena Investment Management Management

Management criteria checks 3/4

Key information

Rich Pzena

Chief executive officer

US$4.5m

Total compensation

CEO salary percentage	8.2%
CEO tenure	15.4yrs
CEO ownership	0.03%
Management average tenure	10.8yrs
Board average tenure	11.4yrs

Recent management updates

We Take A Look At Whether Pzena Investment Management, Inc's (NYSE:PZN) CEO May Be Underpaid

May 13

Recent updates

Pzena Investment Management (NYSE:PZN) Is Paying Out A Larger Dividend Than Last Year

Feb 05

Pzena Investment Management May AUM sees a 74% surge Y/Y

Jun 08

We Take A Look At Whether Pzena Investment Management, Inc's (NYSE:PZN) CEO May Be Underpaid

May 13

Here's Why We're Wary Of Buying Pzena Investment Management's (NYSE:PZN) For Its Upcoming Dividend

Feb 07

Pzena decreases dividend by ~17%

Feb 02

Pzena Investment December AUM reports 6% growth

Jan 07

Pzena Investment Management's (NYSE:PZN) Stock Price Has Reduced 28% In The Past Three Years

Dec 17

Consider This Before Buying Pzena Investment Management, Inc (NYSE:PZN) For The 8.5% Dividend

Nov 20

CEO Compensation Analysis

How has Rich Pzena's remuneration changed compared to Pzena Investment Management's earnings?
Date	Total Compensation	Salary	Company Earnings
Sep 30 2022	n/a	n/a	US$13m
Jun 30 2022	n/a	n/a	US$15m
Mar 31 2022	n/a	n/a	US$17m
Dec 31 2021	US$4m	US$365k	US$19m
Sep 30 2021	n/a	n/a	US$18m
Jun 30 2021	n/a	n/a	US$15m
Mar 31 2021	n/a	n/a	US$13m
Dec 31 2020	US$2m	US$365k	US$9m
Sep 30 2020	n/a	n/a	US$3m
Jun 30 2020	n/a	n/a	US$4m
Mar 31 2020	n/a	n/a	US$5m
Dec 31 2019	US$3m	US$365k	US$8m
Sep 30 2019	n/a	n/a	US$12m
Jun 30 2019	n/a	n/a	US$13m
Mar 31 2019	n/a	n/a	US$13m
Dec 31 2018	US$3m	US$365k	US$14m
Sep 30 2018	n/a	n/a	US$10m
Jun 30 2018	n/a	n/a	US$9m
Mar 31 2018	n/a	n/a	US$8m
Dec 31 2017	US$3m	US$365k	US$7m
Sep 30 2017	n/a	n/a	US$19m
Jun 30 2017	n/a	n/a	US$18m
Mar 31 2017	n/a	n/a	US$17m
Dec 31 2016	US$2m	US$365k	US$16m
Sep 30 2016	n/a	n/a	US$7m
Jun 30 2016	n/a	n/a	US$7m
Mar 31 2016	n/a	n/a	US$8m
Dec 31 2015	US$2m	US$378k	US$8m

Compensation vs Market: Rich's total compensation ($USD4.47M) is about average for companies of similar size in the US market ($USD3.94M).

Compensation vs Earnings: Rich's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.

CEO

Rich Pzena (63 yo)

15.4yrs

Tenure

US$4,466,300

Compensation

Mr. Richard Stanton Pzena, also known as Rich, is the Founder of Pzena Investment Management, Inc. and has been its Chairman, Chief Executive Officer and Co-Chief Investment Officer since May 2007. Mr. Pze...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Richard Pzena	Chairman	15.4yrs	US$4.47m	0.025% $ 179.1k
John Goetz	President	15.3yrs	US$4.76m	no data
William Lipsey	President	15.3yrs	US$4.16m	0.028% $ 200.1k
Jessica Doran	Managing Principal	6.3yrs	US$323.80k	no data
Evan Fire	Chief Operating Officer	2.6yrs	no data	no data
Joan Berger	General Counsel & Corporate Secretary	no data	no data	no data
Caroline Cai	EVP, Co-Portfolio Manager of Global	3.6yrs	US$2.86m	1.07% $ 7.6m
Topalli Murti	Principal & Portfolio Manager	no data	no data	no data
Eli Rabinowich	Principal	no data	no data	no data
Rakesh Bordia	Principal & Portfolio Manager	15.8yrs	no data	no data
Mark Heron	Head of Leveraged Loans & High Yield Credit	less than a year	no data	no data
Allison Fisch	Principal & Senior Research Analyst of Pzena Investment Mgmt LLC	no data	no data	no data

10.8yrs

Average Tenure

63yo

Average Age

Experienced Management: PZN's management team is seasoned and experienced (10.8 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Richard Pzena	Chairman	15.4yrs	US$4.47m	0.025% $ 179.1k
John Goetz	President	11.4yrs	US$4.76m	no data
William Lipsey	President	11.4yrs	US$4.16m	0.028% $ 200.1k
Caroline Cai	EVP, Co-Portfolio Manager of Global	less than a year	US$2.86m	1.07% $ 7.6m
Joel Greenblatt	Independent Director	15yrs	US$95.00k	0.13% $ 956.4k
Steven Galbraith	Independent Director	15yrs	US$100.00k	0.13% $ 956.4k
Richard Meyerowich	Independent Director	15yrs	US$105.00k	0.13% $ 956.4k
Charles Johnston	Independent Director	8.6yrs	US$100.00k	0.42% $ 3.0m
Shavar Jeffries	Independent Director	1.8yrs	US$95.00k	0.060% $ 429.7k

11.4yrs

Average Tenure

63.5yo

Average Age

Experienced Board: PZN's board of directors are seasoned and experienced ( 11.4 years average tenure).

This company has been acquired

Pzena Investment Management Management

Management criteria checks 3/4

Key information

Recent management updates

Pzena Investment Management, Inc, Annual General Meeting, May 18, 2022

EVP, Co-Portfolio Manager of Global recently sold US$59k worth of stock

EVP, Co-Portfolio Manager of Global notifies of intention to sell stock

EVP, Co-Portfolio Manager of Global recently sold US$269k worth of stock

We Take A Look At Whether Pzena Investment Management, Inc's (NYSE:PZN) CEO May Be Underpaid

Pzena Investment Management, Inc Appoints Shavar Jeffries to the Board and Its Compensation Committee and Nominating and Corporate Governance Committee

Recent updates

Third quarter 2022 earnings released: EPS: US$0.16 (vs US$0.29 in 3Q 2021)

Pzena GAAP EPS of $0.15, revenue of $45.2M

Pzena Investment Management AUM drops 12% on September

Pzena Investment Management AUM ticks up M/M in August, but down from year ago

Pzena goes ex-dividend tomorrow

Investor sentiment improved over the past week

Pzena Investment Management, Inc Approves Quarterly Dividend, Payable on August 19, 2022

Second quarter 2022 earnings released: EPS: US$0.15 (vs US$0.27 in 2Q 2021)

Pzena GAAP EPS of $0.15, revenue of $48.7M; goes private at $795M valuation

Pzena Investment Management records ~11% sequential decline in June AUM

Pzena Investment Management Q1 2022 Commentary

First quarter 2022 earnings: EPS in line with expectations, revenues disappoint

Pzena Investment Management, Inc Approves Quarterly Dividend on Class A Common Stock, Payable on May 20, 2022

Pzena Investment Management, Inc, Annual General Meeting, May 18, 2022

Full year 2021 earnings: EPS in line with expectations, revenues disappoint

Pzena Investment Management (NYSE:PZN) Is Paying Out A Larger Dividend Than Last Year

Full year 2021 earnings: EPS in line with expectations, revenues disappoint

Pzena Investment Management, Inc Announces Year-End Dividend on Class A Common Stock, Payable on February 25, 2022

EVP, Co-Portfolio Manager of Global recently sold US$59k worth of stock

EVP, Co-Portfolio Manager of Global notifies of intention to sell stock

EVP, Co-Portfolio Manager of Global recently sold US$269k worth of stock

Investor sentiment deteriorated over the past week

Third quarter 2021 earnings released: EPS US$0.28 (vs US$0.16 in 3Q 2020)

Second quarter 2021 earnings released: EPS US$0.27 (vs US$0.13 in 2Q 2020)

Pzena Investment Management May AUM sees a 74% surge Y/Y

We Take A Look At Whether Pzena Investment Management, Inc's (NYSE:PZN) CEO May Be Underpaid

Full year 2020 earnings released: EPS US$0.52 (vs US$0.47 in FY 2019)

New 90-day high: US$9.85

Here's Why We're Wary Of Buying Pzena Investment Management's (NYSE:PZN) For Its Upcoming Dividend

Full year 2020 earnings released: EPS US$0.52 (vs US$0.47 in FY 2019)

Pzena Investment Management, Inc. Approves Year End Dividend, Payable on February 25, 2021

New 90-day high: US$8.72

Pzena decreases dividend by ~17%

Pzena Investment Management, Inc Appoints Shavar Jeffries to the Board and Its Compensation Committee and Nominating and Corporate Governance Committee

New 90-day high: US$8.03

Pzena Investment December AUM reports 6% growth

Pzena Investment Management's (NYSE:PZN) Stock Price Has Reduced 28% In The Past Three Years

New 90-day high: US$7.62

Consider This Before Buying Pzena Investment Management, Inc (NYSE:PZN) For The 8.5% Dividend

New 90-day high: US$6.13

Third quarter 2020 earnings released: EPS US$0.16

Third quarter earnings released

New 90-day high: US$5.77

CEO Compensation Analysis

CEO

Tenure

Compensation

Leadership Team

Average Tenure

Average Age

Board Members

Average Tenure

Average Age