What changed in this filing

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Item 1. Business

2024-08-06 compared with 2023-08-08 · 99 added, 86 removed, 324 unchanged (36% of the section changed)

The Broadridge Business

Broadridge, a Delaware corporation and a part of the S&P 500 ® Index (“S&P”), is a global financial technology leader providing investor communications and technology-driven solutions to banks, broker-dealers, asset and wealth managers, public companies, investors and mutual funds.

With over 60 years of experience, including over 15 years as an independent public company, we provide integrated solutions and an important infrastructure that powers the financial services industry.

Our solutions enable better financial lives by powering investing, governance and communications and help reduce the need for our clients to make significant capital investments in operations infrastructure, thereby allowing them to increase their focus on core business activities.

Broadridge, a Delaware corporation and a part of the S&P 500 ® Index (“S&P”), is a global financial technology leader powering investing, corporate governance, and communications.

We deliver technology-driven solutions to banks, broker-dealers, asset and wealth managers, public companies, investors, and mutual funds, that enable our clients to operate, innovate and grow.

Our trusted expertise and transformative technology provide the infrastructure and data to help improve our clients’ business performance and operational efficiency and modernize the investor experience.

We operate our business in two reportable segments:

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We handle the entire proxy materials distribution and voting process for our bank, broker-dealer, corporate issuer and fund clients.

We offer traditional hard copy and electronic services for the delivery of proxy materials to investors and collection of consents;

We offer electronic and traditional hard copy services for the delivery of proxy materials to investors and collection of consents;

maintenance of a rules engine and database that contains the delivery method preferences of our clients’ customers;

posting of documents on their websites;

email notification to investors notifying them that proxy materials are available;

email notification to investors alerting them that proxy materials are available;

and proxy voting via paper, telephone, online or mobile app.

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ProxyEdge is offered in several languages and there are currently over 7,000 ProxyEdge users worldwide.

In addition to our proxy services, we provide regulatory communications solutions that enable global asset managers to communicate with large audiences of investors efficiently and reliably by centralizing all investor communications through one resource.

We provide composition, printing, filing, and distribution services for regulatory reports, prospectuses, and proxy materials, as well as mutual fund proxy solicitation services.

We manage the entire communications process with both registered and beneficial stockholders and provide a complete platform for creating and distributing regulatory investor communications across multiple channels, including print, e-delivery, online, and mobile.

These services include prospectus delivery and the distribution of annual and semi-annual shareholder reports.

Our clients have the ability to create and distribute these communications via print, e-delivery, online, and mobile.

In addition to our fund solutions, we also provide a range of other regulatory communications solutions, including reorganization communications notifying investors of U.S.

reorganizations or corporate action events such as tender offers, mergers and acquisitions, bankruptcies, and global class action services for the identification, filing and recovery of class actions and collective redress proceedings involving securities and other financial products.

Our pass-through voting solutions support fund clients in providing individual investors the ability to participate in the proxy voting process, helping them to expand their investor engagement efforts and receive valuable input for important investment decisions.

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For retail investors, our solutions allow funds to poll their investors on voting preferences and provides investors the ability to give voting instructions, set standard voting preferences, or potentially cast a vote at pre-determined meetings.

In addition to our proxy services, we provide regulatory communications services that assist our fund clients in meeting their regulatory requirements.

These services include prospectus delivery, distribution of annual and semi-annual shareholder reports, trade confirmations, account statements and other communications.

Our clients have the ability to create and distribute these communications via print, e-delivery, online and mobile.

In addition to our fund solutions, we also provide a range of other regulatory communications solutions, including reorganization communications notifying investors of U.S.

reorganizations or corporate action events such as tender offers, mergers and acquisitions, and bankruptcies, and global class action services for the identification, filing and recovery of class actions and collective redress proceedings involving securities and other financial products.

In addition, we provide international corporate governance solutions addressing our clients’ needs within Europe, the Middle East and Africa (“EMEA”) and the Asia-Pacific (“APAC”) region.

These solutions include our global proxy and shareholder rights compliance services, as well as environmental, social and governance (“ESG”) offerings and shareholder meeting analytics.

These solutions include institutional and retail global proxy services and shareholder data and analytics.

Our international solutions help clients sharpen focus on their core businesses while helping them maintain global regulatory compliance, reduce costs, improve efficiency and gain data insights.

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We provide a full range of data-driven solutions that help our asset management and retirement service provider clients grow revenue, operate efficiently, and maintain compliance.

Our communications solutions enable global asset managers to communicate with large audiences of investors efficiently and reliably by centralizing all investor communications through one resource.

We provide composition, printing, filing, and distribution services for regulatory reports, prospectuses and proxy materials, as well as proxy solicitation services.

We manage the entire communications process with both registered and beneficial stockholders.

Our marketing and transactional communications solutions provide a content management and omni-channel distribution platform for marketing and sales communications for asset managers and retirement service providers.

In addition, our data and analytics solutions provide investment product distribution data, analytical tools, and insights and research to enable asset managers to optimize product distribution across retail and institutional channels globally.

Through our Retirement and Workplace Trade Processing Solutions business (“Broadridge Retirement and Workplace”), we provide automated mutual fund and exchange-traded funds trade processing services for financial institutions that submit trades on behalf of their clients such as qualified and non-qualified retirement plans and individual wealth accounts.

Our trust, trading and settlement services are integrated into our product suite thereby strengthening Broadridge’s role as a provider of insight, technology and business process outsourcing to the asset management, wealth, and retirement industry.

In addition, we provide fiduciary-focused learning and development, software and technology, and data and analytics services to advisors, institutions and asset managers across the retirement and wealth ecosystem.

Our data and analytics solutions provide investment product distribution data, predictive modeling, analytical tools, and insights and research to enable asset managers to optimize product distribution across retail and institutional channels globally.

We also provide fiduciary-focused learning and development, software and technology, and data and analytics services to advisors, institutions and asset managers across the retirement and wealth ecosystem.

Through our Fund Communication Solutions business, we provide fund managers with a single, integrated provider to manage data, perform calculations, compose documents, manage regulatory compliance, and disseminate information across multiple jurisdictions.

Our solutions help fund managers increase distribution opportunities, comply with both United Kingdom domestic and European Union regulations such as Solvency II and MiFID II, and makes information easily accessible for investors in a digital format.

Our solutions help fund managers increase distribution opportunities, comply with both United Kingdom and European Union regulations such as Solvency II and MiFID II, and make information easily accessible for investors in a digital format.

We also provide support to fund managers with document and data dissemination in the European market.

This enables the receipt by distributors and investors of complete, accurate, and timely information supporting fund sales.

Through our Retirement and Workplace Solutions business (“Broadridge Retirement and Workplace”), we provide automated mutual fund and exchange-traded funds trade processing services for financial institutions that submit trades on behalf of their clients such as qualified and non-qualified retirement plans and individual wealth accounts.

Our trust, trading and settlement services are integrated into our product suite thereby strengthening Broadridge’s role as a provider of insight, technology, and business process outsourcing to the asset management, wealth, and retirement industry.

In addition, our marketing and transactional communications solutions provide a content management and omni-channel distribution platform for marketing and sales communications for asset managers, insurance providers and retirement service providers.

Corporate Issuer Solutions

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proxy and annual report design and digitization, SEC filing, printing, and web hosting services, as well as year-round SEC reporting including document composition, EDGARization and XBRL tagging.

• Capital Markets Transactional Services – typesetting, composition, printing and SEC filing services for capital markets transactions such as initial public offerings, spin-offs, acquisitions, and securities offerings.

• Capital Markets Transactional Services:

typesetting, composition, printing, and SEC filing services for capital markets transactions such as initial public offerings, spin-offs, acquisitions, and securities offerings.

In addition, we provide transaction support services such as virtual deal rooms and translation services.

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Our Global Technology and Operations business provides the non-differentiating yet mission-critical infrastructure to the global financial markets.

As a leading software as a service (“SaaS”) provider, we offer capital markets, wealth and investment management firms modern technology to enable growth, simplify their technology stacks and mutualize costs.

As a leading software as a service (“SaaS”) provider, we offer capital markets and wealth and investment management firms modern technology to enable growth, simplify their technology stacks, and mutualize costs.

Our highly scalable, resilient, component-based solutions automate the front-to-back transaction lifecycle of equity, mutual fund, fixed income, foreign exchange and exchange-traded derivatives, from order capture and execution through trade confirmation, margin, cash management, clearing and settlement, reference data management, reconciliations, securities financing and collateral management, asset servicing, compliance and regulatory reporting, portfolio accounting and custody-related services.

Our Wealth Management business provides solutions for advisors and investors and also streamlines back- and middle-office operations for broker-dealers by providing systems for critical post-trade activities, including books and records, transaction processing, clearance and settlement, and reporting.

Our Wealth Management business provides solutions for advisors and investors and streamlines back- and middle-office operations for broker-dealers by providing systems for critical post-trade activities, including books and records, transaction processing, clearance and settlement, and reporting.

Our Investment Management business provides portfolio and order management solutions for traditional and alternative asset managers, which bring insights into trading, portfolio construction, risk, and analytics.

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Capital Markets Solutions

We provide a set of multi-asset, multi-entity and multi-currency trading, connectivity and post-trade solutions that support processing of securities transactions in equities, options, fixed income securities, foreign exchange, exchange-traded derivatives and mutual funds.

Our capital markets technology and our solutions deliver simplification and innovation across the trade lifecycle, from order initiation to settlement.

Largely provided on a SaaS basis within large user communities, Broadridge’s technology is a global solution, processing trades, clearance and settlement in over 100 countries.

Our solutions enable global capital markets firms to access market liquidity, drive more effective market making and efficient front-to-back trade processing.

Our technology enables our clients to meet the requirements of market change such as the T+1 securities settlement cycle.

Our solutions enable global capital markets firms to access market liquidity, driving more effective market making and efficient front-to-back trade processing.

These services include reference data management, securities financing, securities-based lending, collateral management, trade and transaction reporting, reconciliations, financial messaging, and asset servicing.

Our solutions can be deployed as a complete solution as well as discrete components supporting financial institutions.

Through Broadridge Trading and Connectivity Solutions , we offer a set of global front-office trade order and execution management systems and connectivity solutions that enable market participants to connect and trade.

Our front-office solutions, post-trade product suite and other capital markets capabilities enable our clients to streamline their front-to-back technology platforms and operations and increase straight-through-processing efficiencies, across equities, fixed income, exchange-traded derivatives, and other asset classes.

We also provide a set of multi-asset, multi-entity and multi-currency trading, connectivity and post-trade solutions that support processing of securities transactions in equities, options, fixed income securities, foreign exchange, exchange-traded derivatives and mutual funds.

In addition, we provide comprehensive fixed income transaction processing capabilities to support clearance, settlement, custody, P&L reporting, and regulatory reporting for domestic and foreign fixed income instruments.

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The solution offers straight-through-processing capabilities, enterprise-wide integration, and a robust technology infrastructure - all focused on supporting firms specializing in the fixed income marketplace.

The combination of the front-office solutions from the 2021 acquisition of Itiviti Holding AB (“Itiviti”) and our post-trade product suite and other capital markets capabilities enables our clients to streamline their front-to-back technology platforms and operations and increase straight-through-processing efficiencies, across equities, fixed income, exchange-traded derivatives, and other asset classes.

Wealth and Investment Management Solutions

Our Wealth Management business delivers technology solutions, critical data, and digital marketing services to enable full-service, regional, and independent broker-dealers and investment advisors to better engage with customers to help grow their business.

Our wealth solutions are designed to help optimize advisor productivity, improve investor outcomes, reduce friction in investing, increase financial literacy, and deliver more personalized advice and insights.

Our wealth solutions are designed to help optimize advisor productivity, improve investor outcomes, digitize operations, reduce friction in investing, increase financial literacy, and deliver more personalized advice and insights.

With respect to technology solutions, we offer an integrated, modern open-architecture wealth management platform through which we provide enhanced data-centric capabilities to improve the overall client experience across the entire front-, middle- and back-office wealth management lifecycle, including advisor, investor, and operational workflows.

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Our strategy addresses critical industry needs by utilizing our leading platform capabilities.

Specifically, our growth strategy is focused on four key themes:

(i) extend our strong and growing governance business, (ii) drive further growth in our capital markets business, (iii) build next generation wealth and investment management businesses and (iv) strengthen our international business.

Specifically, our growth strategy is focused on three key themes:

(i) driving democratization and digitization in governance , (ii) simplifying and innovating trading in capital markets, and (iii) modernizing wealth and investment management businesses.

Our business model

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• Governance .

We create an integrated network through our governance platform that links broker-dealers, public companies, mutual funds, shareholders, and regulators.

We continue to grow our governance solutions by transforming content and delivery and improving e-product capabilities to drive higher investor engagement.

We operate an extensive industry network through our governance platform that links broker-dealers, public companies, mutual funds, shareholders, and regulators.

Through our platform, we continue to grow our governance solutions by transforming content and delivery and improving e-product capabilities to drive higher investor engagement.

We aim to be an integral partner to broker-dealers, asset managers, and retirement service providers by offering data-driven solutions that help them grow revenue, reduce costs, and maintain compliance.

We are also helping public companies improve their governance functions, offering an expanding suite of capabilities that allows them to provide better information and accessibility to shareholders.

We are also helping to simplify the governance process for public companies, offering an expanding suite of capabilities that allows them to better navigate the complexity of reaching shareholders.

We continue to be a leading provider of investor communications and are at the forefront of delivering richer communication experiences, both digitally and through optimized print and mail services.

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As a leader in global trade lifecycle management, we are driving next-generation solutions that simplify our clients’ operations, improve performance and resiliency, evolve to global operating models, adapt to new technologies, and enable our clients to better manage their data.

We plan to continue building on our global platform capabilities, enabling our clients to simplify and improve their global operations across cash equity securities and other asset classes.

Our 2021 acquisition of Itiviti, for example, expanded our services across the trade lifecycle for equities and exchange-traded derivatives and grew our international reach.

We continue to develop component solutions that meet the regulatory, risk, data, and analytics needs of our clients, while also helping to drive more efficient liquidity, price discovery, and improved execution for the firms we serve.

We continue to leverage emerging technologies such as blockchain and artificial intelligence (“AI”) to deliver innovative solutions to our clients.

Our blockchain-enabled Distributed Ledger Repo (“DLR”) platform which combines distributed ledger technology with existing market settlement infrastructure provides clients added flexibility to manage their liquidity needs and execute cross-border intraday repo transactions through our DLR network.

In addition, we have introduced a number of AI-driven solutions such as BondGPT and continue to develop new AI applications to create a more efficient trading process for our clients.

We also continue to develop component solutions that meet the regulatory, risk, data, and analytics needs of our clients, while also helping to drive more efficient liquidity, price discovery, and improved execution for the firms we serve.

We plan to continue building on our global platform capabilities, enabling our clients to simplify and improve their global operations across cash, equity securities, and other asset classes.

• Wealth and Investment Management.

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To address these demands, we have developed a holistic wealth management platform solution that provides seamless systems and data integration capabilities.

Our platform enables firms to improve advisor productivity, provide a better investor experience, and realize operational process efficiencies.

Our platform enables firms to improve advisor productivity, provide a more personalized investor experience, and realize operational process efficiencies.

On-ramp for next-generation technologies

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However, they face obstacles in making the necessary investments and, more importantly, in applying the right talent and intellectual capital, which may be focused on their most differentiating functions.

This continues to create opportunities for Broadridge to assist in the areas where we have scale and domain expertise, which includes areas such as artificial intelligence, blockchain, cloud, digital, and other new technologies.

This continues to create opportunities for Broadridge to assist in the areas where we have scale and domain expertise, which includes areas such as AI, blockchain, cloud, digital, and other new technologies.

By leveraging our services, firms can benefit from highly skilled, experienced personnel with deep industry expertise, while mutualizing the costs and risks of technology innovation.

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In addition to financial services firms, we service corporate clients in the healthcare, insurance, consumer finance, telecommunications, utilities, and other service industries with their essential communications.

We embrace the concept of the Service-Profit Chain, which directly connects employee engagement, client satisfaction, and the creation of shareholder value.

In furtherance of this principle, client satisfaction is a component of every full-time Broadridge associate’s compensation.

In fiscal year 2024, we:

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• provided fixed income trade processing services to 20 of the 24 primary dealers of fixed income securities in the U.S.;

• provided services to 14 of the 15 largest U.S.

wealth providers.

We operate in a highly competitive industry.

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Within our Global Technology and Operations business, our capital markets solutions compete with in-house operations and vendors that provide trade processing, back-office record keeping, and sell-side order and execution management systems.

Similarly, our wealth management solutions compete with service providers that deliver data, technology solutions, and marketing services, and our investment management solutions compete with firms that provide portfolio management, compliance and operational support solutions.

We have several information processing systems that serve as the core foundation of our technology platform.

We leverage these systems in order to provide our services.

We are committed to maintaining extremely high levels of quality service through our skilled technical employees and the use of our technology within an environment that seeks continual improvement.

Our mission-critical applications are designed to provide high levels of availability, scalability, reliability, and flexibility.

They operate on industry standard enterprise architecture platforms that provide high degrees of horizontal and vertical scaling.

This scalability and redundancy allows us to provide high degrees of system availability.

As part of Broadridge’s technology strategy, we leverage traditional data center services as well as private cloud and public cloud services.

Most of our systems and applications operate in highly resilient data centers that employ multiple active power and cooling distribution paths and redundant components.

Additionally, the data centers provide infrastructure capacity and capability to permit any planned activity without disruption to the critical load, and can sustain at least one worst-case, unplanned failure or event with no critical load impact.

Similarly, our wealth management solutions compete with service providers that deliver data, technology solutions, and marketing services to be used by wealth advisors.

Finally, our investment management solutions compete with firms that provide portfolio management, compliance, and operational support solutions for asset managers and hedge funds.

We provide products and platforms to the financial services industry and have several information processing systems that serve as the core foundation of our technology platform.

We are committed to maintaining high levels of quality service through our skilled technical employees and the use of our technology within an environment that seeks continual improvement.

Our strategy centers on four key pillars:

architecture, data, cyber and data security, and AI .

Broadridge’s technology strategy is designed to provide high levels of availability, scalability, reliability, and flexibility, leveraging a hybrid model consisting of private and public cloud services as well as traditional data center services.

Our technology architecture consists of systems and applications which operate in data centers that employ multiple active power and cooling distribution paths and redundant components.

Additionally, these data centers provide infrastructure capacity and capability to permit planned activities without disruption to the critical load, and, as a general matter, are designed to sustain at least one worst-case, unplanned failure or event without a significant critical load impact.

Our geographically dispersed processing centers also provide disaster recovery and business continuity processing.

Our applications that incorporate cloud technology operate on industry standard enterprise architecture platforms that provide significant opportunities for horizontal and vertical scaling.

This scalability and redundancy allows us to provide high degrees of system availability for our clients.

Our technology connects industry participants across the financial services ecosystem forming a network that includes capital markets firms, broker-dealers, asset managers, public companies, and investors.

The data derived through these connections provides value to participants and is at the heart of our approach – which leverages this data to generate insights that drive innovation, address industry-wide challenges, accelerate product development, and inform decision making.

We conduct annual reviews with many of our clients around our cybersecurity and data security policies, practices and controls, which, together with our ongoing engagement with regulators across the world, helps us keep up with cybersecurity and data security standards and best practices and informs our product development and technology decisions.

For more information on our information security program, please refer to Item 1.C.

Cybersecurity of this Annual Report on Form 10-K.

Our multi-pronged approach to AI looks to launch next-generation capabilities while considering the protection of our clients’ and Broadridge’s data privacy and intellectual property.

We have integrated AI capabilities into several of our solutions and provide our associates with access to internal AI tools designed to modernize our approach to product development and enhance our overall productivity and efficiency.

Product Development

We manage a diverse portfolio of products and services across our core businesses.

Our products and services are designed with reliability, availability, scalability, and flexibility so that we can fully meet our clients’ processing needs.

These products and services are built in a manner that allows us to meet the breadth and depth of requirements of our clients in a highly efficient manner.

Our products and services are designed with resiliency, scalability, and flexibility so that we can fully meet our clients’ critical needs.

These products and services are built to meet the many complex requirements of our clients in a highly efficient manner.

Our product organization is committed to helping Broadridge grow, scale, and innovate.

We do so by providing our product managers with the tools, processes, and capabilities to promptly deliver solutions that address key client needs.

This empowers product managers with the insights they need to make data-driven decisions and prioritize resources effectively.

We further accelerate innovation by entering into strategic relationships with clients and other third parties to accelerate product development or gain access to capabilities complementary to our product development efforts.

To cultivate the talent behind these products, we invest heavily in fostering a thriving community of highly skilled product associates.

This commitment is reflected in our diverse hiring practices, accelerated leadership development programs, and ongoing training opportunities.

We are also focused on enterprise transformation with a focus on next-generation technologies.

Our core strength lies in scalable, reusable platform components that empower developers and accelerate application delivery across the Company.

This emphasis on unified product disciplines ensures business units have seamless access to top tier expertise.

Furthermore, we leverage AI to unlock new commercial opportunities and enhance overall productivity.

To fuel this continuous innovation, we are building a robust foundation with workload-centric hosting platforms optimized for security, scalability, and efficiency.

This standardized technology stack, powered by industry-leading enterprise tools, is fundamental to our strategy of delivering best-in-class solutions with improved speed.

We continually upgrade, enhance, and expand our existing products and services, taking into account input from clients, industry-wide initiatives and regulatory changes affecting our clients.

We also enter strategic relationships with clients and other third parties to accelerate product development or gain access to capabilities complementary to our product development efforts.

By focusing on these key areas, we aim to meet the evolving needs of our clients through our product and service offerings.

Intellectual Property

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We believe that we are the owner or in some cases, the licensee, of all intellectual property and other proprietary rights necessary to conduct our business.

Cybersecurity

Our information security program is designed to meet the needs of our clients who entrust us with their sensitive information.

Our program includes encryption, data masking technology, data loss prevention technology, authentication technology, entitlement management, access control, anti-malware software, and transmission of data over private networks, among other systems and procedures designed to protect against unauthorized access to information, including by cyber-attacks.

Broadridge utilizes the National Institute of Standards and Technology Framework for Improving Critical Infrastructure Cybersecurity (the “NIST Framework”) issued by the U.S.

government as a guideline to manage our cybersecurity-related risk.

The NIST Framework outlines 108 subcategories of security controls and outcomes over five functions:

identify, protect, detect, respond and recover.

To further demonstrate our commitment to maintaining the highest levels of quality service, information security, and client satisfaction within an environment that fosters continual improvement, most of our business units and our core applications and facilities for the provision of many services including our proxy services, U.S.

equity and fixed income securities processing services, and Kyndryl, Inc.’s data centers, are International Organization for Standardization (“ISO”) 27001 certified.

This security standard specifies the requirements for establishing, implementing, operating, monitoring, reviewing, maintaining and improving a documented Information Security Management System within the context of the organization’s overall business risks.

It specifies the requirements for the implementation of security controls customized to the needs of individual organizations.

The ISO 27001 standard addresses confidentiality, access control, vulnerability, business continuity, and risk assessment.

We engage an independent third-party cybersecurity services and consulting firm to review our information security program quarterly and provide a quarterly report on the program to the Audit Committee of our Board of Directors.

We also have a third-party firm conduct phishing tests on our associates and perform network penetration tests.

In addition, we conduct regular security awareness training and testing of our employees.

The securities and financial services industries are subject to extensive regulation in the U.S.

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For example, the European Union Parliament adopted the comprehensive General Data Protection Regulation (“GDPR”) and several U.S.

states have also recently adopted new privacy laws or are proposing to pass their own state privacy laws, including California’s recently effective California Privacy Rights Act (“CPRA”).

states have also recently adopted new privacy laws or are proposing to pass their own state privacy laws, including the California Privacy Rights Act (“CPRA”).

We continually monitor privacy and information security laws and regulations and while we believe that we are compliant with our regulatory responsibilities, information security threats continue to evolve, resulting in increased risk and exposure.

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As of June 30, 2024, we had approximately 14,600 full-time associates, of which approximately 45% were employed in the U.S.

Of the approximately 52% of associates located outside of the U.S., 37% are in the APAC region, where a substantial number of associates are in India, and 11% are in Europe.

Of the approximately 55% of associates located outside of the U.S., 40% are in the APAC region, where a substantial number of associates are in India, 11% are in Europe, and 4% are in Canada.

None of our U.S.

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At the center of our associate engagement efforts is the concept of the Service-Profit Chain, where engaged associates deliver world-class service, which creates satisfied clients and, in turn, produces strong, long-term value for stockholders.

We survey our associates’ engagement annually and our overall score this year is 81%, a four-point increase over last year’s score.

Our human capital strategies are developed and managed by our Chief Human Resources Officer, who reports to the Chief Executive Officer, and are overseen by the Company’s Board of Directors and the Compensation Committee of the Board of Directors.

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The Board annually reviews the Company’s leadership bench and succession planning.

In addition, the Board receives regular updates on talent and other human capital matters such as culture, attrition and retention, and quarterly updates on our progress on our diversity, equity and inclusion (“DEI”) initiatives and practices, including an annual update from our Chief Diversity Officer.

In addition, the Board receives regular updates on talent and other human capital matters such as culture, attrition, retention, and diversity, equity and inclusion (“DEI”) initiatives and practices, including an annual update from our Chief Diversity Officer.

The Compensation Committee’s oversight includes initiatives and programs that concern our culture, talent, recruitment, retention, and associate engagement.

Associate Engagement

We believe there is a direct connection between associate engagement and the satisfaction of our clients and the creation of stockholder value so we regularly conduct surveys to assess associate engagement and determine if and how perspectives have changed over time.

Our surveys allow our associates to share their views on our workplace, the importance of various aspects of work life, among other topics.

The themes and insights from our associate feedback are shared with our executive leadership and have been instrumental in shaping our workplace.

In fiscal year 2024, we received an 82% overall favorable rating in the annual Great Place to Work survey.

In addition, 85% of our associates stated that Broadridge is a “great place to work,” and we have received certification from Great Place to Work for our outstanding workplace culture in 13 countries:

U.S., Canada, India, the United Kingdom, Ireland, Romania, Poland, Singapore, Japan, Germany, Hong Kong, Sweden and the Philippines.

Recognized as 2024 Best Workplaces in Ireland and UK, as well as Best Workplaces in Technology (Ireland) and Best Workplaces for Development (UK).

The Great Place to Work Institute is a global authority on high-trust, high-performance workplaces.

Diversity, Equity and Inclusion

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Broadridge’s Associate Networks currently include:

B.Pride, Disability Equity Associate Network (DEAN), Lead For Next (LFN), MultiCultural Associate Network (MCAN), Veteran + First Responder Network (VFN), Women’s Leadership Forum (WLF) and BeGreen.

Together, these networks support the LQBTQ+ community, associates with disabilities, young professionals, multicultural backgrounds, veterans and first responders, women, and associates with a passion for sustainability.

We have a Chief Diversity Officer, who implements a holistic DEI strategy and partners with our business units to develop the resources and competencies needed to drive this strategy.

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The results of our inaugural survey revealed that an overwhelming majority of our associates believe that 1) the importance of DEI is reflected in the priorities of Broadridge's business, 2) we were successful in advancing DEI initiatives over the past year, and 3) we create a physically and psychologically safe environment where associates feel they belong, and they are included and treated fairly.

In 2023, we ran additional associate engagement surveys, which covered various DEI topics related to workplace culture and associate experience.

We are committed to associate feedback to provide a comprehensive view of our organization’s culture, identify areas where improvements can be made to create a more welcoming and inclusive environment for all associates, and measure our progress over time.

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One important resource we provide our associates is Broadridge University, a comprehensive suite of online courses and virtual and on-site training.

We offer career-enhancing programs from top business schools, have a tuition reimbursement program, and support participation in external learning opportunities.

We offer our technology associates with resources to supplement their work experience, including a skills inventory to identify strengths and new opportunities, and a Technology Expert Career Track, a transparent dual career path process that allows associates to grow as leaders and experts in the organization.

We offer career-enhancing programs from top business schools, leadership development and mentoring programs, have a tuition reimbursement program, and support participation in external learning opportunities.

These programs are designed to provide opportunities for associates at varying levels of the Company to expand their networks, gain valuable skills and knowledge to excel in their current roles, and enhance their leadership capabilities.

We offer our technology associates with resources to supplement their work experience, and a Technology Expert Career Track, a transparent dual career path process that allows associates to grow as leaders and experts in the organization.

We also empower associates to learn and grow as subject matter experts in the financial markets.

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Occupational Safety and Health Administration standards and site-specific guidelines to ensure that associates work in a safe and healthy environment.

At our larger production facilities and at certain other locations, we house on-site Wellness Centers staffed with physicians, nurse practitioners and physician assistants who provide a wide variety of medical services at no cost to our associates.

At our Edgewood, New York facility, we have an on-site Wellness Centers staffed with physicians, nurse practitioners and physician assistants who provide medical services at no cost to our associates.

In addition, we are committed to providing competitive health and wellness benefits to our associates.

We recognize the importance of work-life balance and have designed our Connected Workplace model, which provides associates with flexible on- and off-site work options.

We recognize the importance of work-life balance and have designed our workplace to provide associates with flexible on- and off-site work options.

Our other health and wellness benefits include travel allowances for certain types of health care and subsidized emergency backup care services for our U.S.-based associates, various educational health and wellness programs and webinars, and an employee assistance program, which provides free counseling and other mental health services.

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In addition we offer the following benefits, which may vary by country/region:

healthcare and insurance benefits, tax efficient or savings programs, such as health and dependent care flexible spending accounts, health savings account and pretax commuter benefits or green transport tax savings programs, paid time off, including volunteer time off, paid parental leave, and sick time off, life and disability insurance, business travel accident insurance, charitable gift matching, tuition assistance and on-site health centers, among others.

Associate Engagement

We believe there is a direct connection between associate engagement and the satisfaction of our clients and the creation of stockholder value so we regularly conduct multiple surveys and focus groups to assess associate engagement and determine if and how perspectives have changed over time.

Our surveys and focus group practices allow our associates to share their views on our workplace, the importance of various aspects of work life, among other topics.

The themes and insights from our associate feedback are shared with our executive leadership and have been instrumental in shaping our workplace.

In fiscal year 2023, we received an 81% overall favorable rating in the annual Great Place to Work survey.

In addition, 83% of our associates stated that Broadridge is a “great place to work,” and we have received certification from Great Place to Work for our outstanding workplace culture in 14 countries:

U.S., Canada, India, the United Kingdom, Ireland, Romania, Poland, Singapore, Japan, Czech Republic, France, Germany, Sweden and the Philippines.

In the United Kingdom, we were recognized as one of the Best Workplaces, as well as one of the Best Workplaces for Wellbeing in 2023.

The Great Place to Work Institute is a global authority on high-trust, high-performance workplaces.

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7 unchanged sentences

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

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Item 1. Business