T. Rowe Price Group Shareholders Back Board as ETF Assets Top $25 Billion

Key Points

• T. Rowe Price shareholders approved all three proposals at the 2026 annual meeting, including the election of 13 directors, executive compensation, and the ratification of KPMG LLP as auditor.
• The company reported $1.8 trillion in assets under management at the end of 2025, alongside $56.9 billion in net outflows.
• Management said the ETF business is gaining traction, with assets in the ETF franchise topping $25 billion and about 32 ETFs in the market as of March 31, 2026.

T. Rowe Price Group NASDAQ: TROW held its 2026 annual meeting of stockholders virtually, with Chair, CEO and President Robert Sharps presiding over the proceedings. Stockholders approved all three items presented at the meeting, according to preliminary results announced during the event.

The company said 181,180,984 shares of common stock were represented in person or by proxy, equal to approximately 83% of all shares entitled to vote. Sharps said the quorum requirement was met, allowing the meeting to proceed.

Stockholders Elect Directors and Approve Key Proposals

Stockholders voted on three proposals: the election of 13 directors, a non-binding advisory vote on executive compensation, and the ratification of KPMG LLP as the company’s public accounting firm for 2026.

The director nominees elected to the board were Glenn August, Mark Bartlett, Bill Donnelly, Dina Dublon, Allan Golston, Rob MacLellan, Eileen Rominger, Rob Sharps, Cynthia Smith, Bob Stevens, Rich Verma, Sandra Wijnberg and Alan Wilson.

Sharps said the preliminary vote report showed that all nominees had been elected, the compensation of named executive officers had been approved by advisory vote, and KPMG’s appointment had been ratified. The company said final voting results will be reported in a Form 8-K to be filed with the SEC within four business days.

Company Reports 2025 AUM and Net Outflows

During the informal portion of the meeting, Sharps said T. Rowe Price closed 2025 with $1.8 trillion in assets under management and $56.9 billion in net outflows. He directed investors seeking more detail on 2025 results to the company’s investor relations website and recordings of its quarterly earnings calls.

Sharps also thanked the company’s associates, saying their dedication to clients and the firm supported his confidence in the company’s direction.

ETF Business Discussed in Shareholder Q&A

The only shareholder question addressed during the meeting concerned the performance of T. Rowe Price’s exchange-traded fund product line. Lawrence Steffy, identified as a stockholder, asked how the company views the ETF lineup’s performance to date.

Eric Veiel, chief investment officer of T. Rowe Price Group, said the company is “overall pleased” with the investment performance of its ETFs. He noted that, as of March 31, 2026, the firm had 32 ETFs in the market.

Veiel said the ETF product line was also performing well commercially, citing increased market share and significant net inflows since the strategies launched. He said T. Rowe Price has about 1.5% of the active ETF market and believes it has an opportunity to increase that share over time through expanded distribution and new product launches, provided the company continues to deliver strong investment performance.

Sharps added that the company had recently crossed $25 billion in assets under management in its ETF franchise.

With no further questions or business, Sharps adjourned the meeting.

About T. Rowe Price Group NASDAQ: TROW

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland, founded by Thomas Rowe Price Jr. in 1937. The company provides a broad range of investment products and services for individual investors, financial intermediaries, retirement plan sponsors and institutional clients. Its offerings are built around active investment management and in-house research across equity, fixed income and multi-asset strategies, reflecting a long history as a research-driven asset manager.

The firm's product lineup includes mutual funds, separate accounts, collective investment trusts, target-date and target-risk funds, and managed account solutions, as well as services for defined contribution and defined benefit retirement plans.

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