TROW · T. Rowe Price Group, Inc.

Summary

T. Rowe Price Group, Inc. amended and restated the employment agreement for Glenn R. August, CEO of its subsidiary Oak Hill Advisors, L.P., on April 21, 2026, detailing his compensation, severance terms, and participation in new incentive plans.

Key takeaways

• Glenn R. August's employment agreement as CEO of Oak Hill Advisors was amended and restated, continuing his role with an annual base salary of $350,000.
• If terminated without cause or for good reason, August is entitled to 12 months of base salary continuation, a prorated annual bonus, and COBRA coverage for 12 months.
• August was awarded a 16.333% allocation from the OHA Partner Cash Compensation Pool for 2027 and is eligible for awards from a Supplemental Compensation Pool funded up to $20 million annually from 2027 through 2030.
• August was awarded the right to receive 8.166% of the Value Creation Incentive Pool for the 2027 performance period, which is 50% of his 2027 OHA Partner Cash Compensation Pool allocation.
• August is subject to noncompetition and customer non-solicitation covenants ending the later of one year post-termination or December 31, 2028, and employee non-solicitation covenants for two years post-termination.