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Item 1. Business

2026-10-20 compared with 2025-10-22 · 101 added, 222 removed, 98 unchanged (77% of the section changed)

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Business Overview

FactSet is a global financial digital platform and enterprise solutions provider with open and flexible technologies that deliver financial intelligence to investment professionals worldwide.

Our platform delivers expansive data, sophisticated analytics, and flexible, artificial intelligence ("AI")-powered technologies used by global financial professionals to power their critical investment workflows.

As of August 31, 2025, we had approximately 9,000 clients comprised of over 237,000 investment professionals, including institutional asset managers, bankers, wealth managers, asset owners, partners, hedge funds, corporate users, and private equity and venture capital professionals.

Our revenues are primarily derived from subscriptions to our multi-asset class data and solutions powered by our connected data and technology platform.

Our products and services include workstations, portfolio analytics and enterprise data solutions.

We also offer managed services that operate as an extension of our clients' internal teams to support data, performance, risk and reporting workflows.

We drive our business based on a detailed understanding of our clients’ workflows, which helps us to solve their most complex challenges.

We provide financial data and market intelligence on securities, companies, industries and people to enable our clients to research investment ideas and analyze, monitor and manage their portfolios.

Our solutions span the investment lifecycle of investment research, portfolio construction and analysis, trade execution, performance measurement, risk management and reporting.

We provide open and flexible technology offerings, including a configurable desktop and mobile platform, comprehensive data feeds, cloud-based digital solutions, and application programming interfaces ("APIs").

AI is embedded across these offerings to enhance data discovery, automate routine workflows and improve the speed and accuracy of client insights.

The CUSIP Global Services ("CGS") business supports security master files relied on by the investment industry for critical front, middle and back-office functions.

All of our platforms and solutions are supported by our dedicated client service team.

FactSet is a global data and artificial intelligence ("AI") solutions provider to the financial markets with open and flexible technologies that deliver financial intelligence to finance professionals worldwide.

Our platform delivers expansive data, sophisticated analytics, and flexible, AI-powered technologies used by global financial professionals to power their critical investment, dealmaking and advisory workflows.

As of August 31, 2026, we had more than 9,200 clients and over 260,000 professionals using our solutions, including institutional asset managers, bankers, wealth managers, asset owners, partners, hedge fund professionals, corporate users, private equity and venture capital professionals, and market infrastructure participants.

Our revenues are primarily derived from subscriptions to our multi-asset class data and solutions that include workstations, portfolio analytics, enterprise data solutions, and AI solutions.

We also offer managed services that operate as an extension of our clients' internal teams to support data, performance, risk and reporting, and AI-enabled workflows.

We drive our business based on a detailed understanding of our clients’ workflows.

We provide financial data and market intelligence on securities, companies, industries and people to enable our clients to research advisory, dealmaking and investment ideas and analyze, monitor and manage their portfolios.

Our solutions for institutional buyside clients span the investment lifecycle of investment research, portfolio construction and analysis, trade execution, performance measurement, risk management and reporting.

Our banking solutions facilitate company and market research, enabling clients to perform fundamental analysis, generate ideas, and build and distribute presentations through proprietary and third-party databases with global coverage of public and private markets, granular industry metrics, and deep historical data.

Our wealth solutions support home office, advisory, and client engagement workflows, providing financial advisors with tools to monitor markets and their book of business, prospect for new clients, and generate proposals, while enhancing existing client relationships and improving firm-wide efficiency across the investment portfolio lifecycle.

We provide open and flexible data and technology offerings, including a configurable desktop and mobile platform, comprehensive data solutions, cloud-based digital solutions, application programming interfaces ("APIs"), and model context protocol ("MCP") servers.

AI is embedded throughout these offerings to enhance data discovery, automate routine workflows and improve the speed and accuracy of client insights.

Our platform and solutions are supported by our client success and service teams.

We operate our business through three reportable segments ("segments"):

the Americas, EMEA and Asia Pacific.

Within each segment, we offer data, products and analytical applications by firm type:

Institutional Buyside, Dealmakers, Wealth, and Partnerships and CGS.

Our segment revenues are based on the geographic region where the sale originated:

Within each segment, we offer a range of products, data, managed services, and analytical applications which can be tailored to a wide range of workflows.

Our segment revenues are based on the geographic region where our clients contract with us:

The Americas segment primarily sells to clients in North, Central and South America.

In the Americas, we have offices in nine states in the United States ("U.S."), including our corporate headquarters located in Norwalk, Connecticut.

In the Americas, we have offices in eight states in the United States ("U.S.").

Additionally, we have data centers in two states in the U.S.

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Revenues from the Americas represented 65% of total revenues during fiscal 2026.

The EMEA segment primarily sells to clients in Europe, the Middle East and Africa via offices in Bulgaria, England, France, Germany, Italy, Latvia, Luxembourg, the Netherlands, Sweden and the United Arab Emirates.

The EMEA segment primarily sells to clients in Europe, the Middle East and Africa via offices in Bulgaria, France, Germany, Italy, Latvia, Luxembourg, the Netherlands, Sweden, the United Arab Emirates and the United Kingdom ("UK").

Revenues from EMEA represented 24% of total revenues during fiscal 2026.

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Note 16, Segment Information, in the Notes to the Consolidated Financial Statements included in this Annual Report on Form 10-K for more information on our segments.

Institutional Buyside

Institutional Buyside focuses on multi-asset class solutions, including AI-powered workflows and insights, for global asset managers, asset owners and hedge fund professionals across the investment portfolio lifecycle.

This firm type includes workflows for research analysts, portfolio managers, and traders in the front office, as well as performance analysts, risk managers, and client service and marketing professionals in the middle office.

Our front office on-platform solutions are designed for research management, order management, portfolio construction, and trade execution capabilities.

Our middle office on-platform solutions are designed for performance measurement, attribution, reporting and risk management capabilities, and are complemented by our middle office managed services.

In addition to our on-platform workstation offerings, we offer comprehensive off-platform data and technology solutions including data feeds, APIs, and programmatic access for clients to engage with us in the environment best suited to them.

Dealmakers focuses on workflow solutions for investment bankers, sell-side research analysts, corporate users, investor relations officers, and private equity and venture capital professionals.

We provide comprehensive solutions to our clients including workstations, mobile solutions, data feeds, APIs, proprietary and third-party data, and productivity tools for Microsoft® Office.

We also deliver firm type tailored solutions for client relationship management ("CRM") and AI-powered solutions to bring automation to time-consuming and manual aspects of our clients’ daily workflows.

Our tools are used to analyze companies and markets, perform fundamental research, generate ideas, build and distribute presentations and monitor investments.

We offer global coverage of public and private markets, granular industry metrics, deep history, and transparency through proprietary and third-party sourced databases.

Wealth focuses on comprehensive solutions to wealth management clients including our web-based workstation, book-of-business dashboards for advisors, data feeds, APIs, proprietary and third-party data, and productivity tools for Microsoft® Office.

We also offer AI-powered prospecting, monitoring and proposal generation tools that enable financial advisors to grow and enhance existing client relationships.

Our Wealth solution enables our clients to easily integrate our products into their CRM software and internally developed applications.

Wealth clients use our advisory tools to provide support for their businesses, including home office, advisory, and client engagement work.

We continue to focus on expanding our relevant data offerings and increasing workflow efficiency across the investment portfolio lifecycle for wealth management firms.

Partnerships and CGS

Partnerships delivers solutions such as data and technology solutions, workstations, and digital or analytics solutions to firms in the financial services ecosystem including data, analytics and technology platform providers.

This includes curated datasets and turnkey APIs to enable technologists and developers to power new AI-based workflows with programmatic access to FactSet’s high-quality, connected content.

CGS is the exclusive issuer of CUSIP and CINS identifiers globally.

CGS also acts as the official numbering agency for International Securities Identification Number ("ISIN") identifiers in the U.S.

and as a substitute ISIN agency for more than 30 other countries.

Products and Solutions

We deliver trusted, connected financial data, software applications, advanced analytics, and AI-powered solutions embedded in the critical workflows that finance professionals rely on every day.

We serve a diverse array of clients in over 80 countries and a wide range of verticals, ranging from the largest global financial services firms with multiple business lines to smaller and independent firms.

Our clients include institutional asset managers, asset owners, hedge funds, investment banks, wealth managers, private equity and venture capital firms, corporations, and market infrastructure participants.

As our clients’ needs vary, we tailor our data and technology to become an integral component of the workflows that drive their decision-making.

Clients access our capabilities in the form that best fits their operating model, whether through software applications, data feeds and APIs, or managed services.

Many clients use our capabilities in more than one form, combining our data and applications with their own workflows and systems.

Underpinning these workflows is a broad and expanding set of financial markets data, including client-owned data, that we ingest, map, normalize, and structure.

Our mapping links entities, securities, and identifiers across our content allowing our clients to integrate our data with their own.

We also deliver our content in forms designed for machine consumption, including the metadata and symbology that allow AI agents and other automated systems to interpret and act on it.

In addition, through our CUSIP Global Services ("CGS") business, operating on behalf of the American Bankers Association, we support security master files and serve as the exclusive issuer of Committee on Uniform Security Identification Procedures ("CUSIP") and CUSIP International Number System ("CINS") identifiers globally.

Business Strategy

We strive to be a trusted enterprise partner and service provider to our clients across the financial services spectrum, delivering relevant intelligence, insights and execution solutions tailored to our clients’ business models.

We are focused on growing our global business through three strategically aligned geographic segments:

the Americas, EMEA and Asia Pacific.

This approach allows us to better manage resources, target solutions and interact with clients effectively.

To execute our strategy, we are focused on three core pillars and primary areas of investment:

• Expanding our data offerings and delivery capabilities:

We continue to scale up our data ecosystem to provide a comprehensive inventory of industry, proprietary and third-party data.

This includes granular data for key industry verticals, real-time market data, fund data and sustainable finance.

In addition to using our growing data catalog to drive our AI-powered workstation products, we aim to continue to expand our data delivery capabilities in the cloud and through other methods to advance our position as an enterprise data provider for our clients.

• Embedding deeper in client workflows:

Through continued innovation, we aim to deepen our integration into our clients' workflows.

We are focused on expanding further into the buy-side front office by leveraging our expertise in portfolio performance, analytics, and risk management.

In addition, we are building on our strong presence on advisor desktops by expanding into prospecting and digital reporting workflows.

We are also working to introduce next-generation automation in research, financial modeling, and pitch creation.

• Innovating with AI:

Our AI roadmap, driven by our FactSet AI Blueprint, is resonating with our clients, and FactSet's AI solutions are generating usage, demand and commercial transactions.

We continue to advance a pragmatic, open, and flexible strategy for integrating AI and natural language processing into our clients’ workflows, aiming to boost productivity by surfacing actionable insights throughout the portfolio lifecycle and automating routine research and content processing tasks.

FactSet is delivering AI embedded workflow solutions for various personas including research analysts, bankers, portfolio managers, wealth advisors and engineering teams across our clients.

These outcomes accelerate decision making for our clients and will differentiate FactSet from our competitors and drive growth.

Executive Leadership Transition

On September 8, 2025, Sanoke Viswanathan assumed the role of Chief Executive Officer and joined FactSet’s Board of Directors.

Viswanathan succeeds F.

Philip Snow, who retired from these roles effective on Mr.

Viswanathan's start date.

To support a smooth leadership transition, Mr.

Snow is continuing employment with FactSet in an advisory capacity until December 31, 2025.

• Expanding our data and analytics offerings and delivery capabilities:

We continue to expand our data and analytics to provide a comprehensive corpus of industry, proprietary, contributed, and third-party data and models.

This includes granular data for key industry verticals, real-time market data, fund data and frontier unstructured data.

In addition to using our growing data catalog to drive our AI-powered workstation products, we aim to continue to expand our delivery capabilities in the cloud and through other methods, including MCP, to advance our position as a leading enterprise data provider for our clients in the AI age.

We aim to be a single, authoritative source by collecting, mapping, normalizing, and structuring data into formats that both professionals and AI systems can rely on.

• Transforming client workflows with AI:

Through continued innovation, we aim to help our clients re-design their core workflows with AI.

This includes fundamentally re-imagining our core workstation product and building agentic solutions with specialized domain knowledge across our firm types, including investment research, performance reporting, financial modeling, pitch creation, meeting preparation, advisory client engagement, and more.

We are developing the platform for clients to build, register, entitle, audit, and manage AI agents, whether developed by us, our clients, or third parties, and to intelligently route work between deterministic systems and large language model systems to optimize quality.

• Enhancing our commercial capabilities for the AI age:

We are building a suite of AI products with a focus on trusted, high-quality data, secure integration with models and workflows, and deep domain expertise.

To deploy these new solutions and capture value, we are upgrading our commercial and go-to-market capabilities, including by actively moving client contracts to longer duration enterprise platform agreements that combine subscription-based minimums with consumption-based pricing components.

Revenues and Annual Subscription Value ("ASV")

The majority of our revenues are derived from client access to our multi-asset solutions powered by our platform of connected data and technology that is available over the contractual term.

We offer expansive data, sophisticated analytics, and flexible technology through our platform.

We derive most of our revenues by delivering client access to our multi-asset class data and solutions powered by our platform of connected data and technology that is available over the contractual term (referred to as the "Hosted Platform").

Platform is a subscription-based service that provides client access to various combinations of products and services including workstations, portfolio analytics, enterprise data solutions, AI agents, and agentic workflow solutions.

We believe ASV reflects our ability to grow recurring revenues and generate positive cash flows, and thus serves as a key indicator of the successful execution of our business strategy.

ASV at any point in time represents our forward-looking revenues for the next 12 months from all subscription services currently being supplied to clients.

Organic ASV at any point in time represents ASV excluding ASV from acquisitions and dispositions completed within the last 12 months and the effects of foreign currency movements.

ASV at any point in time represents our forward-looking revenues for the next 12 months from all recurring services currently being supplied to clients.

Organic ASV at any point in time equals our ASV excluding ASV from acquisitions and the comparable impact of dispositions and discontinued lines of business, effected within the last 12 months, and the impact of foreign currency movements.

FactSet Clients and Users

We had 9,258 clients and 260,671 professionals using FactSet as of August 31, 2026.

Our client count includes clients with ASV of $10,000 and above and our user count does not reflect users associated with our fiscal 2025 acquisitions.

Our client count includes clients with ASV of $10,000 and above.

For the year ended August 31, 2026, annual ASV retention was greater than 95% and, when expressed as a percentage of clients, annual retention was 90%.

Buy-side clients continue to shift toward multi-asset class investment strategies and investing in their front- and middle office solutions, where we are well-positioned to be a partner of choice.

We are able to compete for greater market share given our ability to provide enterprise-wide solutions to our clients by leveraging their portfolio data for multiple asset classes.

Buy-side clients primarily include institutional asset managers, wealth managers, asset owners, partners, hedge funds and corporate clients.

These clients access our multi-asset class tools through our workstations, analytics and trading tools, proprietary and third-party content, data feeds, APIs and portfolio services.

Buy-side clients accounted for approximately 82% of our Organic ASV as of August 31, 2025.

We deliver comprehensive solutions to sell-side clients including workstations, data feeds, web and mobile solutions, APIs, proprietary and third-party content, and productivity tools for Microsoft® Office.

Our focus remains on expanding the depth of content offered and increasing workflow efficiency for sell-side firms.

These firms primarily include broker-dealers, banking and advisory firms, and private equity and venture capital firms.

Sell-side clients accounted for approximately 18% of our Organic ASV as of August 31, 2025.

Third-Party Content

We aggregate content from third-party data suppliers, news sources, exchanges, brokers and contributors into our dedicated managed databases, which our clients access through our flexible delivery platforms.

We collect and aggregate content from third-party data suppliers, news sources, exchanges, brokers and contributors into our own dedicated managed databases, which our clients access through our flexible delivery platforms.

We seek to maintain contractual relationships with a minimum of two content providers for each major type of financial data, though certain data sets on which we rely have a limited number of suppliers.

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We have entered into third-party content agreements of varying lengths, which in some cases can be terminated with one year’s notice, at predefined dates, and in other cases on shorter notice.

We are not dependent on any one third-party data supplier to meet the needs of our clients, with two data suppliers each representing more than 10% of our total data costs during fiscal 2025.

We are not dependent on any one third-party content supplier to meet the needs of our clients.

Two suppliers each represented more than 10% of our total third-party content costs during fiscal 2026.

Data Centers and Cloud Computing

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In the event of a single site failure or localized disaster, client workloads will automatically move to unaffected sites.

We continue to focus on maintaining a global technological infrastructure that allows us to support our growing business.

We continue to focus on maintaining a global technology infrastructure that allows us to support our growing business.

Intellectual Property

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Despite these efforts, existing intellectual property laws may afford only limited protection.

Research and Product Development Costs

Research and Product Development

A key aspect of our growth strategy is to offer new solutions and enhance our existing products by making them faster and more robust with deeper data and insights.

We continue to invest in AI solutions that adapt as our clients’ workflows evolve, helping professionals leverage automation, generative intelligence, and dynamic analytics—rapidly embracing new technologies to improve discoverability and usability of our products and services.

We continue to invest in AI solutions that adapt as our clients’ workflows evolve, helping professionals leverage automation, generative intelligence and dynamic analytics, while rapidly embracing new technologies to improve discoverability and usability of our products and services.

The Competitive Landscape

We are a part of the financial information services industry focused on delivering expansive data, sophisticated analytics, and flexible technology through our open platform to the global investment community.

We offer clients comprehensive solutions with a broad set of products delivered through a desktop or mobile user interface, cloud-based platforms, or through standardized or bespoke data feeds, as well as APIs.

In addition, our applications, client support and service offerings are entrenched in the workflow of many financial professionals given the data management, portfolio analysis and screening capabilities offered.

We are a part of the financial information services industry focused on delivering expansive data, sophisticated analytics, and flexible technology through our open platform.

We offer clients comprehensive solutions with a broad set of products delivered through a desktop or mobile user interface, AI-enabled chat and agentic solutions, cloud-based platforms, standardized or bespoke data feeds, and APIs.

In addition, our applications, client support and service offerings are entrenched in the workflow

of many financial professionals given the data management, portfolio analysis and screening capabilities offered.

We are entrusted with significant amounts of our clients' own proprietary data, including portfolio holdings.

As a result, we believe our products are central to our clients’ investment analysis, decision-making and operations.

As a result, we believe our products are central to our clients’ analysis, decision-making and operations.

We operate in a highly competitive environment.

Our current competitive market is comprised of both large, well-capitalized companies and smaller, niche firms including market data suppliers, news and information providers, technology firms, and many third-party content providers that supply us with financial information included in our products.

Our largest competitors are Bloomberg L.P., S&P's Market Intelligence division, and London Stock Exchange Group's ("LSEG's") Data & Analytics division (formerly known as Refinitiv).

Other competitors and competitive products include online database suppliers and integrators and their applications, such as BlackRock Aladdin, MSCI Inc.

and Morningstar Inc.

Many of these firms provide products or services similar to our offerings.

Our current competitive market is comprised of both large, well-capitalized companies and smaller, niche firms including market data suppliers, vertical AI solution providers, news and information providers, technology firms, and many third-party content providers that also supply us with financial information included in our products.

The financial market data environment is competitive and includes many firms that provide products and services similar to our offerings, most notably Bloomberg L.P., S&P, London Stock Exchange Group ("LSEG"), BlackRock, MSCI Inc., and Morningstar Inc., in addition to clients with in-house teams developing their own solutions.

Human Capital Management

At FactSet, our people are central to delivering long-term value to our clients, stockholders, and communities.

We view human capital as a strategic asset and prioritize the health, engagement, safety, and well-being of our workforce.

FactSet’s human capital strategy is designed to align our workforce with our mission.

Through strategic hiring, focused upskilling, and transparent career pathways, we position our people and teams to deliver on our business objectives and create sustainable growth.

By emphasizing innovation, agility, recognition, and connectedness, we foster a culture where employees thrive while advancing outcomes for our clients, our communities, and our stockholders.

Our human capital strategy focuses on attracting and retaining top talent, developing future-ready skills, fostering an inclusive and purpose-driven culture, and providing comprehensive wellbeing programs.

We align our workforce initiatives with business priorities, so that employees are equipped, empowered, and motivated to contribute meaningfully to FactSet’s mission and long-term objectives.

Our Employees

As of August 31, 2025, we had 35 offices in 19 countries with 12,800 employees, representing an increase of 3.2% compared with August 31, 2024.

As of August 31, 2026, we had 33 offices in 19 countries with 12,444 employees, representing a decrease of 2.8% compared with August 31, 2025.

Of our total employees, 8,652 (70%) were located in Asia Pacific, 2,373 (19%) in the Americas and 1,419 (11%) in EMEA.

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As of August 31, 2026, 421 of our employees were represented by mandatory works councils in our French and German locations and 26 of our employees were represented by collective bargaining agreements in the U.S.

Our global workforce enables scale, operational efficiency, and delivery of specialized expertise across the enterprise.

Workforce Strategy and Talent Development

FactSet invests strategically in attracting, developing, and retaining top talent to support growth and innovation.

Key initiatives include:

• Strategic Hiring:

Recruitment in critical roles, including data solutions, AI, machine learning, product management, and client-facing positions.

• Future-Ready Skills:

In fiscal 2025, 94% of employees participated in learning programs, completing 339,000 hours globally.

Programs include mentorship, leadership development, department-specific training, and the EXCEL program.

• AI Capabilities:

A major focus in fiscal 2025 was enhancing our AI capabilities that were aligned with our innovation and AI monetization goals.

Employees advanced skills in prompt engineering, coding, vector databases, and data querying, enabling teams to embed AI across product design, client solutions, and internal efficiency initiatives.

• Career Pathways:

To encourage employees to apply their skills toward long-term careers at FactSet, we refreshed our job architecture, offering transparent career pathways and consistent role expectations across functions.

Employee Engagement and Culture

FactSet fosters a culture where employees feel empowered, recognized, and connected to the Company’s mission.

Key initiatives and outcomes include:

• Engagement and Feedback:

We conduct an annual confidential employee engagement survey to assess satisfaction, gather feedback, and identify opportunities for improvement.

In fiscal 2025, our engagement survey achieved an 88% response rate, significantly outpacing typical third-party benchmark response rates, reflecting strong employee engagement in the process.

The survey results indicated employees are closely aligned with the Company's purpose and confident that their work contributes meaningful value to the organization.

• Corporate Responsibility and Purpose:

We foster a culture of service that enriches our communities and enhances the employee experience.

In fiscal 2025, FactSet employees contributed 17,200 volunteer hours across 391 events, with more than 85% of employees participating in philanthropic initiatives focused on education, hunger alleviation, environmental protection, and disaster response.

• Flagship Initiatives:

Programs such as Hunger Awareness, one of FactSet’s largest annual initiatives, have resulted in over 9 million meals donated since 2019, reinforcing a culture of purpose while enhancing employee engagement and collective impact.

• Employee-Led Engagement Programs:

FactSet supports a network of site-level culture committees, business resource groups open to all employees, and wellness champions, empowering employees to drive inclusion, well-being, and local engagement initiatives.

Board Oversight & Executive Management

Our Board of Directors and management team view our people as critical to our ability to execute our strategy.

As a result, the Board of Directors and the Compensation and Talent Committee oversee and regularly engage with our Chief Executive Officer ("CEO"), Chief People & Workforce Transformation Officer and other senior leaders on topics such as talent attraction, talent development, retention, succession planning, compensation and benefits, workplace culture, and employee engagement.

At the management level, our Chief People & Workforce Transformation Officer is responsible for leading the development and execution of the Company’s people and workforce management strategy with the support of the Company’s Executive Leadership Team.

Compensation Program

Our compensation program consists of a mix of annual salary;

annual cash bonus for eligible employees, linked to Company and individual performance;

and equity awards for eligible employees, designed to align their interests with our stockholders.

Well-being and Benefits

Employee wellbeing is a central component of FactSet’s human capital strategy.

Employee wellbeing is a central component of FactSet’s people strategy.

Our programs are designed to support physical, mental, and financial health while fostering a safe, inclusive, and resilient workplace.

Key initiatives include:

• Comprehensive Health and Wellness Programs:

FactSet provides robust health benefits, as well as a range of wellness initiatives that support physical, emotional, social, and financial health.

In fiscal 2025, we expanded mental health resources through Journey, a global platform providing access to on-demand clinical experts, confidential counseling, and personalized wellness content.

• Flexible Work Arrangements:

Policies and programs support work-life integration, including remote and hybrid work options, parental leave, and time-off programs tailored to employee needs.

Retention and Engagement

To attract and retain the talent critical to deliver on our business objectives and create sustainable growth, we foster a culture that promotes employee engagement, satisfaction, and professional development.

We conduct an annual confidential employee engagement survey to assess satisfaction, gather feedback, and identify opportunities for improvement.

We also invest in our employees by providing a range of training and learning programs designed to help employees advance their knowledge, skills and experience, including mentorship, leadership development programs, department-specific training, and focused upskilling.

Government Regulation

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Securities, LP subsidiary is a member of the Financial Industry Regulatory Authority, Inc.

and is a registered broker-dealer under Section 15 of the Securities Exchange Act of 1934.

Securities, LP, as a registered broker-dealer, is subject to Rule 15c3-1 under the Securities Exchange Act of 1934, which requires that we maintain minimum net capital requirements.

and is a registered broker-dealer

under Section 15 of the Exchange Act.

Securities, LP, as a registered broker-dealer, is subject to Rule 15c3-1 under the Exchange Act, which requires that we maintain minimum net capital requirements.

We claim exemption under Rule 15c3-3(k)(2)(i).

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Through the Investor Relations section of our website (https://investor.factset.com), we make available free of charge the following filings as soon as practicable after they are electronically filed with, or furnished to, the SEC:

our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, Proxy Statements for the annual stockholder meetings, Reports on Forms 3, 4 and 5, and any amendments to those reports filed or furnished pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended.

The SEC maintains a website that contains reports, proxy and information statements and other information that we file with the SEC at www.sec.gov.

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Sanoke Viswanathan 51 Chief Executive Officer 2025

Shan 58 Executive Vice President, Chief Financial Officer

Robie 46 Executive Vice President, Head of Institutional Buyside 2018

Goran Skoko 64 Executive Vice President, Chief Revenue Officer, Managing Director EMEA and Asia Pacific 2019

Karnovsky 46 Executive Vice President, Head of Dealmakers and Wealth 2021

John Costigan 56 Executive Vice President, Chief Data Officer 2022

Stepp 40 Executive Vice President, Chief Technology Officer 2022

Catrina Harding 52 Executive Vice President, Chief People Officer 2023

Christopher R.

Ellis 53 Executive Vice President, Head of Strategic Initiatives and Partnerships 2023

Joshua Warren 46 Executive Vice President, Chief Financial Officer

Christopher McLoughlin 47 Executive Vice President, Chief Legal Officer and Corporate Secretary 2024

Di Hirji 48 Executive Vice President, Chief People and Workforce Transformation Officer 2026

Sanoke Viswanathan – Chief Executive Officer .

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Viswanathan has held a range of leadership roles, most recently served as the Chief Executive Officer of International Consumer and Wealth of JPMorgan and as a member of JPMorgan’s Operating Committee where he oversaw international consumer businesses as well as the International Private Bank and Workplace Solutions.

Prior to that, Viswanathan served as JPMorgan’s Chief Strategy and Growth Officer from 2022 to 2024 and Chief Administrative Officer of the Corporate and Investment Bank.

Prior to that, Mr.

Viswanathan served as JPMorgan’s Chief Strategy and Growth Officer from 2022 to 2024 and Chief Administrative Officer of the Corporate and Investment Bank.

Earlier in his career, he was a Managing Director and Head of Corporate Strategy for JPMorgan and a Partner and Co-Head of Global Corporate and Investment Banking for McKinsey & Company.

Viswanathan holds a post-graduate diploma in management from the Indian Institute of Management, Ahmedabad, and a bachelors in Mechanical Engineering from the Indian Institute of Technology, Chennai.

Shan – Executive Vice President, Chief Financial Officer.

Shan was appointed Executive Vice President, Chief Financial Officer effective July 23, 2024.

As the Chief Financial Officer, she is responsible for FactSet's global finance organization and oversees all financial functions, including accounting, corporate development, financial planning and analysis, investor relations, real estate, tax, and treasury.

She also served in this role from September 2018 through October 2021.

From May 2021 through August 2024, Ms.

Shan served as Executive Vice President, Chief Revenue Officer.

Previously, she was at Marsh McLennan Companies, where she served in a variety of roles, including as the company's Corporate Treasurer and as Chief Financial Officer for Mercer.

Preceding that, Ms.

Shan held executive positions at Pitney Bowes Inc.

In September 2018, Ms.

Shan joined the Board of Directors of EPAM Systems, Inc.

and currently is the Chairperson of the Audit Committee and also serves on the Compensation Committee.

Shan holds dual degrees with a Bachelor of Science and a Bachelor of Applied Science from the University of Pennsylvania’s Wharton School of Business and School of Applied Science and Engineering.

Shan also has a Master of Business Administration from Cornell University’s SC Johnson College of Business.

Robie – Executive Vice President, Head of Institutional Buyside.

Robie was appointed Executive Vice President, Head of Institutional Buyside, effective September 1, 2023.

In his current role, he oversees strategy, research, development and engineering for Institutional Buyside solutions.

Prior to that, he served as Executive Vice President, Head of Analytics & Trading Solutions starting in September 2018.

Robie joined FactSet in July 2000 as a Product Sales Specialist.

During his tenure at FactSet, Mr.

Robie has held several positions of increased responsibility, including Senior Director of Analytics and Director of Global Fixed Income.

Robie joined FactSet in 2000, he did work at BTN Partners from 2004 through 2005 in their quantitative portfolio management and performance division, before returning to continue his career with FactSet.

Robie holds a Bachelor of Arts in Economics and Fine Arts from Beloit College.

Goran Skoko – Executive Vice President, Chief Revenue Officer, Managing Director EMEA and Asia Pacific.

Skoko was appointed Executive Vice President, Chief Revenue Officer, Managing Director EMEA and Asia Pacific effective September 1, 2024.

In this role, he is responsible for driving revenue growth by managing global sales, client solutions, marketing and media relations.

Prior to this, Mr.

Skoko served as Executive Vice President, Managing Director EMEA and Asia Pacific, Head of Dealmakers & Wealth, and was responsible for providing direction to address the product and content needs for EMEA and Asia Pacific clients while also focusing on increased deployment and building community within our Dealmakers & Wealth space.

He also previously served as Executive Vice President, Managing Director EMEA and Asia Pacific and Head of Research & Advisory Solutions and Executive Vice President, Managing Director EMEA and Asia Pacific and Head of Wealth Solutions.

He joined FactSet in 2004 as a Senior Product developer and has held a number of positions of increased responsibility.

Prior to FactSet, he spent 16 years in various engineering and product management roles at Thomson Financial.

Skoko earned his B.S.

in Physics and Computer Science from Fordham University.

Karnovsky – Executive Vice President, Head of Dealmakers and Wealth.

Karnovsky was appointed Executive Vice President, Head of Dealmakers and Wealth effective September 1, 2024.

Since joining FactSet in 2001, she has held leadership roles spanning sales, product and strategy, including roles as Global Head of Research Solutions (2017-2021), and Chief Product Officer (2021-2024).

In her current position, she is responsible for setting strategy, and leading execution across product development and engineering for FactSet's solutions for wealth management, banking, and dealmaking clients worldwide.

Over her tenure, she has played a key role in growing FactSet's sell-side business, advancing enterprise AI capabilities, and strengthening relationships with clients.

Karnovsky holds a B.S.

from the University of Scranton.

John Costigan – Executive Vice President, Chief Data Officer.

Costigan was appointed Executive Vice President, Chief Data Officer of FactSet effective June 1, 2023.

As Chief Data Officer, he is responsible for FactSet's enterprise-wide data strategy and leads data development from planning through production.

This includes data digital transformation using modern techniques and technology to drive timeliness, accuracy, coverage, consistency and usability across all FactSet data assets.

Prior to that, he served as Chief Content Officer of FactSet starting in April 2022.

Costigan has been at FactSet since September 2007 in a variety of roles.

Prior to joining FactSet, Mr.

Costigan served as Vice President, Product Management at Thomson Financial, and spent 11 years in a variety of Product Management roles at First Call, Autex, ILX, and Tradeweb.

Costigan earned a Bachelor's degree in Economics from St.

Michael's College.

Stepp – Executive Vice President, Chief Technology Officer.

Stepp was appointed Executive Vice President, Chief Technology Officer, effective September 1, 2022.

As Chief Technology Officer, she is responsible for leading FactSet's technology organization and overseeing its digital transformation strategy.

Stepp joined FactSet in 2008 and previously served as Senior Director of Product Management within FactSet's Research and Advisory workflow solutions.

Prior to that role, she was Senior Director of Engineering within FactSet's Research workflow solutions.

Stepp holds a B.S.

in Computer Science from Carnegie Mellon University.

Catrina Harding - Executive Vice President, Chief People Officer.

Harding was appointed Executive Vice President, Chief People Officer in July 2023.

Prior to that, Ms.

Harding served as Chief Human Resources Officer at Gerson Lehrman Group, a financial and global information services company, and Senior Vice President of Human Resources at Synchrony Financial, a consumer financial services company and former division of GE Capital.

She has more than 20 years of experience in senior human resources roles at major companies, including U.S.

Steel Corporation, General Electric Company, and Ford Motor Company.

Harding holds a Bachelor of Science from Western Michigan University and a Masters in Industrial and Organizational Psychology from the University of Detroit Mercy.

Christopher R.

Ellis - Executive Vice President, Head of Strategic Initiatives and Partnerships.

Ellis was appointed Executive Vice President, Head of Strategic Initiatives and Partnerships effective November 1, 2023.

In this role, he collaborates on a range of initiatives to help FactSet better address the needs of our clients, most specifically asset managers and asset owners.

Ellis joined FactSet in 1994 in Client Solutions.

His career path since then has included successfully defining and expanding the Portfolio Manager Workstation Sales solutions, ultimately becoming its Vice President before assuming the position of Director of Portfolio Analytics.

He subsequently led the development team for FactSet's core workstation.

Prior to his current role, he led the business development function at FactSet through a series of successful acquisitions and strategic partnerships.

Ellis is a graduate of Stanford University and a CFA charterholder.

Joshua Warren – Executive Vice President, Chief Financial Officer.

Warren was appointed Chief Financial Officer effective April 13, 2026.

As the Chief Financial Officer, he is responsible for FactSet's global finance organization and oversees all financial functions, including accounting, corporate development, financial planning and analysis, investor relations, real estate, tax, and treasury.

Warren served as the Chief Financial Officer of Envestnet, Inc.

from 2023 to 2025.

Previously, he served as the Managing Director and Global Head of Business Strategy for iShares and Index Investments for BlackRock, Inc.

("BlackRock") from 2021 to 2023, and prior to that, he was the Managing Director in BlackRock's Corporate Strategy and Development team.

Warren also held roles at Barclays Capital Inc.;

the United States Department of the Treasury;

and Skadden, Arps, Slate, Meagher & Flom LLP.

Warren holds a Juris Doctor from the New York University School of Law and Bachelor of Arts in Philosophy and History from Dartmouth College.

Christopher McLoughlin - Executive Vice President, Chief Legal Officer and Corporate Secretary.

3 unchanged sentences

McLoughlin served as the General Counsel of S&P Global Market Intelligence, where he led a global team providing legal and compliance support to the entire division and served as a member of the S&P Global Market Intelligence Operating Committee.

Prior, he was Deputy General Counsel and Company Secretary of IHS Markit Ltd.

He has also worked at various international law firms

on a range of corporate, transactional, and advisory matters.

Prior to that, he was Deputy General Counsel and Company Secretary of IHS Markit Ltd.

He has also worked at various international law firms on a range of corporate, transactional, and advisory matters.

McLoughlin has earned a legal degree LLB (Hons), from the University of Manchester and attended Nottingham Law School.

Di Hirji - Executive Vice President, Chief People and Workforce Transformation Officer.

Hirji was appointed Chief People & Workforce Transformation Officer effective August 3, 2026.

As Chief People & Workforce Transformation Officer, she is responsible for all aspects of FactSet’s people strategy and operations.

Hirji served as Chief People Officer for S&P Global Market Intelligence, the largest division of S&P Global from 2019 to 2022 and then expanded her remit to lead the people function for Dow Jones Indices from 2022 to 2024.

Prior to that, Ms.

Hirji also held various human resources ("HR") senior leadership positions at Thomson Reuters including Global Head of HR Strategy and Vice President of HR.

In her early career, she also spent 8 years in management consulting at Accenture.

Hirji holds a degree in Psychology and a Master's degree in Human Resource Management from Warwick Business School.

Additional Information

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Item 1. Business