Silvercrest Asset Management Group LLC Definitive proxy statements

Definitive proxy statements

Pay vs Performance Disclosure

Pay vs Performance Disclosure

12 Months Ended

Dec. 31, 2024

USD ($)

Dec. 31, 2023

USD ($)

Dec. 31, 2022

USD ($)

Pay vs Performance Disclosure

Pay vs Performance Disclosure, Table

Pay Versus Performance

The Dodd-Frank Wall Street Reform Act and Consumer Protection Act and the compensation disclosure rules of the SEC require us to disclose the following information regarding “compensation actually paid” to our named executive officers and certain financial performance measures. The dollar amounts for “compensation actually paid” (or “CAP”) are calculated in accordance with Item 402(v) of Regulation S-K. For information on our compensation policies and decisions regarding compensation paid to our named executive officers, including how we align executive compensation with Company performance, see the Compensation Discussion and Analysis section above.


						Average
						Summary
						Compensation		Average
						Table		Compensation		Value of Fixed $100
		Summary		Compensation		Total		Actually Paid		Investment Based on:
		Compensation		Actually		for Non-PEO		to Non-PEO				Peer Group				Diluted
		Table Total		Paid to		Named Executive		Named Executive		Total		Total				Adjusted
		For PEO		PEO		Officers		Officers		Shareholder		Shareholder		Net		Earnings
		($)		($)		($)		($)		Return		Return		Income		Per Share
Year		(b)(1)		(c)(1)		(d)(2)(6)		(e) (2)		(f) (3)		(g)(3)		(h)(4)		(i)(5)

	2024	$	4,088,958	$	6,321,297	$	2,132,884	$	2,057,861	$	182.25	$	232.43	$	15,709	$	1.10
	2023	$	5,641,698	$	3,173,747	$	1,539,404	$	1,478,809	$	159.91	$	211.89	$	15,183	$	1.12
	2022	$	4,026,249	$	3,789,874	$	1,542,140	$	1,634,404	$	144.93	$	120.66	$	30,793	$	1.35

(1)

Mr. Hough was the PEO for all three years in the table. As shown in the table below, Compensation Actually Paid (“CAP”) to the PEO for each year in the table was calculated by starting with the Summary Compensation Table ("SCT") total compensation for the PEO, deducting the date of grant fair value of stock awards and stock options shown in the SCT, and adding (or subtracting) (i) the fair value of stock awards and stock options that were granted in the year and remained outstanding and unvested at the end of the year; (ii) the change in fair value of stock awards that were granted in prior years and still outstanding and unvested at the end of each respective year; (iii) the change in fair value of stock awards that were granted in prior years and vested during each respective year; (iv) the dollar value of distributions payable on stock awards during each respective year; and (v) the dollar value of stock awards forfeited in each respective year. During the years shown in the table, no awards were granted and vested in the same year.


															Value
									Change in						of
							Fair Value		Fair Value			Change in			Distributions
				Date of Grant			of Stock Awards		of Stock Awards			Fair Value			Paid		Value
				Fair Value			Granted to PEO		Granted to PEO			of Stock Awards			to PEO		of
		Summary		of All			in Current Year		in Prior Years			Granted to PEO			on Unvested		Stock Awards			Compensation
		Compensation		Stock Awards			and Outstanding		and Outstanding			in Prior Years			Stock Awards		Forfeited			Actually
		Table Total		to			as of		as of			and Vested			in		in			Paid to
		For PEO		PEO			December 31		December 31			in Current			Current		Current			PEO
		($)		($)			($)		($)			Year			Year		Year			$
Year		(b)(1)		(c)(1)			(d)(1)(6)		(e) (1)			(f) (1)			(g)(1)		(h)(1)			(i)(1)

	2024	$	4,088,958	$	(1,600,000	)	$	1,137,992	$	4,677,331		$	(1,283,744	)	$	183,952	$	(883,190	)	$	6,321,297
	2023	$	5,641,698	$	(1,500,000	)	$	1,402,636	$	(890,515	)	$	(1,576,205	)	$	96,133	$	-		$	3,173,747
	2022	$	4,026,249	$	(1,500,000	)	$	1,482,624	$	194,458		$	(546,473	)	$	133,017	$	-		$	3,789,874

(2)

For 2024, Messrs. Gerard, Campbell, Gray and Arpano were the Non-PEO Named Executive Officers ("NEOs"). For 2023 and 2022, Messrs. Gerard, Campbell, Messina and Gray were the Non-PEO NEOs. As shown in the table below, CAP for the Non-PEO NEOs for each year in the table was calculated by starting with the average SCT total compensation for the Non-PEO NEOs, deducting the average date of grant fair value of stock awards and stock options shown in the SCT, and adding (or subtracting) (i) the average fair value of stock awards and stock options that were granted in the year and remained outstanding and unvested at the end of the year; (ii) the average change in fair value of stock awards that were granted in prior years and still outstanding and unvested at the end of each respective year; (iii) the average change in fair value of stock awards that were granted in prior years and vested during each respective year; and (iv) the average dollar value of distributions payable on stock awards during each respective year. During the years shown in the table, no awards were granted and vested in the same year, or were forfeited.


									Change in						Average
									Average						Value
							Average		Fair Value			Change in			of
							Fair Value		of Stock Awards			Average			Distributions
				Date of Grant			of Stock Awards		Granted to			Fair Value			Paid
		Average		Average Fair Value			Granted to Non-PEO		Non-PEO			of Stock Awards			to Non-PEO		Average
		Summary		of All			Named Executive		Named Executive			Granted to Non-PEO			Named Executive		Compensation
		Compensation		Stock Awards			Officers		Officers			Named Executive			Officers		Actually
		Table Total		to			in Current Year		in Prior Years			Officers			on Unvested		Paid to
		For Non-PEO		Non-PEO			and Outstanding		and Outstanding			in Prior Years			Stock Awards		Non-PEO
		Named Executive		Named Executive			as of		as of			and Vested			in		Named Executive
		Officers		Officers			December 31		December 31			in Current			Current		Officers
		($)		($)			($)		($)			Year			Year		$
Year		(b)(2)		(c)(2)			(d)(2)(6)		(e) (2)			(f) (2)			(g)(2)		(h)(2)

	2024	$	2,132,884	$	(39,538	)	$	90,902	$	(56,492	)	$	(80,052	)	$	10,157	$	2,057,861
	2023	$	1,539,404	$	(84,916	)	$	79,407	$	16,990		$	(78,190	)	$	6,114	$	1,478,809
	2022	$	1,542,140	$	(25,000	)	$	61,777	$	38,155		$	9,625		$	7,707	$	1,634,404

(3)

See “Performance Graph” as disclosed in the Compensation Discussion and Analysis section above.

(4)

Net income for 2024, 2023 and 2022 included GAAP fair value adjustments to various contingent purchase price consideration arrangements of $192,000, $22,000 and $11,983,000, respectively. Net income for 2023 included a non-recurring variable compensation payment of $1,667,350 paid to Mr. Hough related to the difference between the number of non-qualified stock options granted to Mr. Hough as determined in prior years using the Black-Scholes method inclusive and exclusive of the expected annual dividend yield input.

(5)

See “Appendix A - Non-GAAP Financial Information and Reconciliations" to this 2024 Proxy Statement.

(6)

Fair value of stock awards and stock options included in Compensation Actually paid to the PEO and Average Compensation paid to the NEOs are calculated at the required measurement dates, consistent with the approach used to value the awards at the grant date as described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024 as filed with the Securities and Exchange Commission on March 6, 2025 and this proxy statement. Any changes to stock award and stock option fair values from the grant date (for current year grants) and from prior year-end (for prior year grants) are based on the Company’s updated stock price at the respective measurement dates.

Company Selected Measure Name

Diluted Adjusted Earnings Per Share

Named Executive Officers, Footnote

Mr. Hough was the PEO for all three years in the table.For 2024, Messrs. Gerard, Campbell, Gray and Arpano were the Non-PEO Named Executive Officers ("NEOs"). For 2023 and 2022, Messrs. Gerard, Campbell, Messina and Gray were the Non-PEO NEOs.

PEO Total Compensation Amount

$ 4,088,958

$ 5,641,698

$ 4,026,249

PEO Actually Paid Compensation Amount

$ 6,321,297

3,173,747

3,789,874

Adjustment To PEO Compensation, Footnote

(1)


															Value
									Change in						of
							Fair Value		Fair Value			Change in			Distributions
				Date of Grant			of Stock Awards		of Stock Awards			Fair Value			Paid		Value
				Fair Value			Granted to PEO		Granted to PEO			of Stock Awards			to PEO		of
		Summary		of All			in Current Year		in Prior Years			Granted to PEO			on Unvested		Stock Awards			Compensation
		Compensation		Stock Awards			and Outstanding		and Outstanding			in Prior Years			Stock Awards		Forfeited			Actually
		Table Total		to			as of		as of			and Vested			in		in			Paid to
		For PEO		PEO			December 31		December 31			in Current			Current		Current			PEO
		($)		($)			($)		($)			Year			Year		Year			$
Year		(b)(1)		(c)(1)			(d)(1)(6)		(e) (1)			(f) (1)			(g)(1)		(h)(1)			(i)(1)

	2024	$	4,088,958	$	(1,600,000	)	$	1,137,992	$	4,677,331		$	(1,283,744	)	$	183,952	$	(883,190	)	$	6,321,297
	2023	$	5,641,698	$	(1,500,000	)	$	1,402,636	$	(890,515	)	$	(1,576,205	)	$	96,133	$	-		$	3,173,747
	2022	$	4,026,249	$	(1,500,000	)	$	1,482,624	$	194,458		$	(546,473	)	$	133,017	$	-		$	3,789,874

Non-PEO NEO Average Total Compensation Amount

$ 2,132,884

1,539,404

1,542,140

Non-PEO NEO Average Compensation Actually Paid Amount

$ 2,057,861

1,478,809

1,634,404

Adjustment to Non-PEO NEO Compensation Footnote

(2)


									Change in						Average
									Average						Value
							Average		Fair Value			Change in			of
							Fair Value		of Stock Awards			Average			Distributions
				Date of Grant			of Stock Awards		Granted to			Fair Value			Paid
		Average		Average Fair Value			Granted to Non-PEO		Non-PEO			of Stock Awards			to Non-PEO		Average
		Summary		of All			Named Executive		Named Executive			Granted to Non-PEO			Named Executive		Compensation
		Compensation		Stock Awards			Officers		Officers			Named Executive			Officers		Actually
		Table Total		to			in Current Year		in Prior Years			Officers			on Unvested		Paid to
		For Non-PEO		Non-PEO			and Outstanding		and Outstanding			in Prior Years			Stock Awards		Non-PEO
		Named Executive		Named Executive			as of		as of			and Vested			in		Named Executive
		Officers		Officers			December 31		December 31			in Current			Current		Officers
		($)		($)			($)		($)			Year			Year		$
Year		(b)(2)		(c)(2)			(d)(2)(6)		(e) (2)			(f) (2)			(g)(2)		(h)(2)

	2024	$	2,132,884	$	(39,538	)	$	90,902	$	(56,492	)	$	(80,052	)	$	10,157	$	2,057,861
	2023	$	1,539,404	$	(84,916	)	$	79,407	$	16,990		$	(78,190	)	$	6,114	$	1,478,809
	2022	$	1,542,140	$	(25,000	)	$	61,777	$	38,155		$	9,625		$	7,707	$	1,634,404

Tabular List, Table

We consider several important metrics used by the Company to link compensation actually paid to the named executive officers for 2024 to Company performance. The list of metrics includes but is not limited to the following:

•

Adjusted Diluted Earnings per Share1;

•

Revenue;

•

Adjusted EBITDA1;

•

Adjusted EBITDA %1; and

•

Discretionary assets under management

In addition, the Company used various qualitative factors to determine compensation paid to our Named Executive Officers.

Total Shareholder Return Amount