Frontdoor (NASDAQ: FTDR) posts 2025 growth ahead of 2026 pay vote
Frontdoor, Inc. is asking stockholders to vote at its 2026 virtual annual meeting on eight director nominees, ratification of Deloitte & Touche LLP as auditor, and an advisory vote on executive pay.
The proxy highlights 2025 results: revenue of $2.093 billion (up 14%), net income of $255 million (up 9%), diluted EPS of $3.42 (up 14%) and Adjusted EBITDA of $553 million (up 25%). Gross margin reached 55%, operating cash flow was $416 million and the company repurchased $280 million of stock.
Frontdoor describes a majority-independent board with an independent Lead Director, fully independent key committees, and policies such as no classified board, no dual-class stock and majority voting. Executive pay is heavily performance-based, including performance share units tied to three-year revenue and Adjusted EBITDA, with a 2025 annual incentive payout of 177.5% of target.
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Key Figures
Key Terms
Adjusted EBITDA financial
Lead Director financial
non-binding, advisory vote regulatory
Enterprise Risk Management financial
performance shares (PSUs) financial
Say-on-Pay financial
Compensation Summary
- Election of eight directors
- Ratification of Deloitte & Touche LLP as independent auditor for 2026
- Advisory vote to approve named executive officer compensation
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 14A
Proxy Statement Pursuant to Section 14(a) of the
Securities Exchange Act of 1934 (Amendment No. )
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Definitive Proxy Statement |
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NOTICE of 2026 Annual To our Stockholders: We are pleased to invite you to attend the 2026 Annual Meeting of Stockholders of Frontdoor, Inc. (the “Company”) on Wednesday, May 13, 2026 at 10:00 a.m. Central Time (the “2026 Annual Meeting”).
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Virtual Meeting The 2026 Annual Meeting is a virtual stockholders meeting at www.virtualshareholdermeeting.com/FTDR2026. To participate in the meeting, you must have your sixteen-digit control number that is shown on your Notice of Internet Availability of Proxy Materials, or if you received a printed copy of the proxy materials, in your proxy card or the instructions that accompanied your proxy materials. Items of Business At the 2026 Annual Meeting, stockholders will be asked to consider and act upon each of the following matters: 1. To elect the eight nominees named in the attached Proxy Statement as members of the Board of Directors to serve for a one-year term; 2. To ratify the selection of Deloitte & Touche LLP as the Company’s independent registered public accounting firm for fiscal year 2026; 3. To hold a non-binding, advisory vote to approve the Company’s named executive officer compensation; and 4. To conduct such other business as may properly come before the meeting and any and all adjournments or postponements thereof, if necessary.
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Meeting Date: May 13, 2026
Time: 10:00 a.m. Central Time
Corporate Website: www.frontdoorhome.com
REVIEW YOUR PROXY STATEMENT AND |
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INTERNET www.proxyvote.com |
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DURING THE MEETING www.virtualshareholdermeeting.com/ |
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BY TELEPHONE Call 1-800-690-6903 (toll-free within the |
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BY MAIL Complete, sign, date and promptly mail a paper proxy card, if you have received a paper copy of the proxy materials |
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How to vote: Your vote is important. Please review the instructions on each of your voting options described in the accompanying proxy statement as well as in the notice you received in the mail. |
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Record Date
Only stockholders of record at the close of business on March 23, 2026, the record date, are entitled to notice of, and to vote at, the 2026 Annual Meeting of Stockholders and at any and all adjournments or postponements.
Corporate Headquarters
3400 Players Club Parkway, Suite 300
Memphis, Tennessee 38125-1731
By Order of the Board of Directors,

Scott W. Andreasen
Vice President and Secretary
March 30, 2026
Frontdoor, Inc. 2026 Proxy Statement 1

3400 Players Club Parkway, Suite 300
Memphis, Tennessee 38125-1731
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PROXY STATEMENT
FOR THE 2026 ANNUAL MEETING OF STOCKHOLDERS
To Be Held on May 13, 2026
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The Board of Directors of Frontdoor, Inc. is furnishing you with this Proxy Statement in connection with the solicitation of proxies for use at the 2026 Annual Meeting to be held via live audio webcast at www.virtualshareholdermeeting.com/FTDR2026 on Wednesday, May 13, 2026 at 10:00 a.m. Central Time. At the 2026 Annual Meeting, stockholders will be asked to consider and act upon each of the following matters:
By submitting your proxy (via the Internet, telephone or mail), you authorize William C. Cobb, Chief Executive Officer (“CEO”) and Chairman of the Board of Directors of the Company, Jeffrey A. Fiarman, Senior Vice President and Chief Legal Officer of the Company, and Scott W. Andreasen, Vice President and Secretary of the Company, to represent you and vote your shares at the 2026 Annual Meeting in accordance with your instructions. They also may vote your shares to adjourn the meeting and will be authorized to vote your shares at any postponement(s) or adjournment(s) of the meeting.
The Company’s 2025 Annual Report is being made available to the Company’s stockholders concurrently herewith. Although the 2025 Annual Report is being made available concurrently with this Proxy Statement, it does not constitute a part of the proxy solicitation materials and is not incorporated by reference into this Proxy Statement.
We are first making this Proxy Statement and accompanying materials available to stockholders on or about March 30, 2026. We will be hosting the 2026 Annual Meeting live via audio webcast on the Internet. A summary of the information you need to participate in the meeting online is provided below:
YOUR VOTE IS IMPORTANT. WHETHER OR NOT YOU PLAN TO ATTEND THE MEETING, PLEASE PROMPTLY VOTE YOUR SHARES OVER THE INTERNET, BY TELEPHONE, OR BY MAIL.
2 Frontdoor, Inc. 2026 Proxy Statement
Frontdoor, Inc. 2026 Proxy Statement 3

Table of Contents |
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Proxy Highlights and Summary |
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2026 Annual Meeting of Stockholders |
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Stockholder Voting Matters |
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Fiscal 2025 Performance Overview |
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Our Directors |
6 |
Corporate Governance Highlights |
7 |
Executive Compensation Highlights |
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Proposal 1 Election of Directors |
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Directors of the Company |
10 |
Knowledge, Skills and Experience of Directors |
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Skills Matrix |
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Director Compensation |
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Compensation Paid to Non-Employee Directors |
16 |
Corporate Governance |
18 |
What We Do and Don’t Do Within Our Governance Program |
18 |
Our Board of Directors |
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Director Independence |
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Committees of the Board of Directors |
19 |
Corporate Governance Practices and Policies |
21 |
Proposal 2 Ratification of the Selection of Independent Registered Public Accounting Firm |
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Independent Auditor Fees and Services |
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Audit Committee Report |
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Proposal 3 Advisory Vote to Approve Named Executive Officer Compensation |
30 |
Executive Officers of the Company |
31 |
Compensation Committee Report |
33 |
Compensation Discussion and Analysis |
34 |
Executive Summary |
34 |
Objectives of Our Executive Compensation Program |
35 |
Elements of Executive Compensation, Including for NEOs |
36 |
Determination of Executive Compensation |
37 |
Components of 2025 Compensation |
39 |
Fiscal 2026 Executive Compensation |
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Additional Information About Our Compensation Practices |
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Clawback Policies |
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Stock Ownership Guidelines |
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Prohibitions on Short Sales, Hedges and Pledges |
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Executive Compensation Tables |
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Summary Compensation Table |
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Grants of Plan-Based Awards for Fiscal 2025 |
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Outstanding Equity Awards at Fiscal 2025 Year-End |
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Option Exercises and Stock Vested For Fiscal 2025 |
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Pension Benefits |
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Nonqualified Deferred Compensation for Fiscal 2025 |
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Potential Payments Upon Termination or Change in Control |
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Pay Ratio Disclosure |
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Pay Versus Performance |
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Securities Authorized for Issuance Under Equity Compensation Plans |
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Security Ownership of Certain Beneficial Owners, Directors and Management |
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Procedures for Approval of Related Person Transactions |
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Delinquent Section 16(a) Reports |
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Additional Information |
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Information about the 2026 Annual Meeting of Stockholders and Voting |
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Other Business |
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Procedures for Submitting Stockholder Proposals |
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Stockholders of Record with Multiple Accounts |
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Annual Report and Other Corporate Documents |
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Basis Of Presentation
In this Proxy Statement, unless the context indicates otherwise, references to “we,” “us,” “our,” “Frontdoor” and the “Company” refer to Frontdoor, Inc., a Delaware corporation, and its consolidated subsidiaries.
We hold various service marks, trademarks and trade names, such as Frontdoor®, American Home Shield®, 2-10 HBW®, HSA, OneGuard®, Landmark Home Warranty®, and related logos and designs. Solely for convenience, the service marks, trademarks and trade names referred to in this Proxy Statement are presented without the SM, TM and ® symbols, but such references are not intended to indicate, in any way, that we will not assert, to the fullest extent under applicable law, our rights or the rights of the applicable licensors to these service marks, trademarks and trade names. All service marks, trademarks and trade names appearing in this Proxy Statement are the property of their respective owners.
4 Frontdoor, Inc. 2026 Proxy Statement
Proxy Highlights and Summary
Following is a summary of certain information presented in this Proxy Statement. This summary does not contain all of the information that you should consider. We encourage you to read the entire proxy statement for more information about these topics prior to voting.
2026 Annual Meeting of
Stockholders
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Time and Date: 10:00 a.m. Central Time, May 13, 2026 |
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Virtual Meeting Address: www.virtualshareholdermeeting.com/FTDR2026 |
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Record Date: March 23, 2026 |
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Admission/Audio Webcast: Please follow instructions contained in “Information about the 2026 Annual Meeting of Stockholders and Voting.” |
Stockholder Voting Matters
Proposal |
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Board’s Voting |
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1. Election of Directors |
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FOR |
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2. Ratification of Selection of Independent Registered Public Accounting Firm |
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FOR |
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3. Advisory Vote to Approve Named Executive Officer Compensation |
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On March 30, 2026, we posted on our corporate website at www.frontdoorhome.com, and began mailing to stockholders who requested paper copies, this Proxy Statement and our 2025 Annual Report.
Fiscal 2025 Performance Overview
Our Company, led by our Named Executive Officers (“NEOs”), delivered another year of outstanding performance, marked by strong financial performance and successful execution against our strategic objectives:
Frontdoor, Inc. 2026 Proxy Statement 5
Our Directors
You are being asked to vote on the election of the eight directors listed below. Directors are elected by a majority of the votes cast. Detailed information about the background, skills and experience for each director can be found in “Proposal 1, Election of Directors.” Directors are elected by a majority of the votes cast.
Following is information about the current members of our Board of Directors as of March 30, 2026.
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Age |
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Independent |
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Audit |
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Compensation |
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Nominating and |
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William C. Cobb(1) Chairman |
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69 |
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No |
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D. Steve Boland |
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57 |
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Yes |
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Anna C. Catalano |
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66 |
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Yes |
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C |
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Peter L. Cella |
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Yes |
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Christopher L. Clipper |
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57 |
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Yes |
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Dennis W. Howard(2) |
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57 |
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Yes |
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M |
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Brian P. McAndrews Lead Director |
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67 |
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Yes |
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Liane J. Pelletier
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Yes
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M
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M = Member C = Chair

Proxy Highlights and Summary
Our Directors
6 Frontdoor, Inc. 2026 Proxy Statement
Proxy Highlights and Summary
Corporate Governance Highlights
Corporate Governance Highlights
At Frontdoor, strong corporate governance serves as a foundation for sustainable growth. Our governance policies and structures are designed to promote thoughtful consideration of our business actions and appropriate risk taking, with the goal of producing outstanding business results for our stockholders.
What We Do and Don’t Do Within Our Governance Program
In structuring our corporate governance, our Nominating and Corporate Governance Committee and Board of Directors have incorporated certain practices and omitted certain other practices, as follows.
What We Do |
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What We Don’t Do |
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Independent Lead Director |
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No Non-independent Directors on Committees |
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Board Composition Disclosure |
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No Classified Board |
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Annual Board and Committee Self-Assessments |
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No Dual Class Voting Stock |
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Oversight of Risk, including Enterprise Risk Management (“ERM”), ESG and Cybersecurity |
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No Supermajority Voting Requirement to Amend Charter or Bylaws |
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Annual Succession Planning |
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No Supermajority Voting on Business Combinations |
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Regular Board Executive Sessions of Independent Directors |
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No Cumulative Voting |
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Code of Conduct and Financial Code of Ethics |
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No Plurality Voting in Uncontested Elections |
Key Governance Actions
Since the beginning of fiscal 2025, we have taken the following new governance actions:
Executive Compensation Highlights
Key Compensation Actions for Fiscal 2025
Our Compensation Committee took the following actions with respect to our fiscal 2025 executive compensation program:
Frontdoor, Inc. 2026 Proxy Statement 7
Proxy Highlights and Summary
Executive Compensation Highlights
What We Do and Don’t Do Within Our Executive Compensation Program
In designing our executive compensation program, our Compensation Committee has incorporated certain practices into the program and omitted certain other practices, as follows.
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What We Don’t Do |
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Pay for Performance |
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No Excessive Risk-Taking |
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Competitive Compensation/Peer Group Benchmarking |
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No Hedging, Pledging or Short Sales |
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Annual Compensation Risk Assessment |
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No Excessive Perquisites |
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Executive Clawback Policy with Misconduct Provisions |
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No Backdating or Repricing of Stock Options |
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Stock Ownership Guidelines and Holdings Requirements |
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No Tax Gross-Ups, Except for Executive Relocation |
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Double Trigger Vesting for Equity Awards |
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Independent Compensation Consultant |
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Our Compensation Pay Mix
A significant portion of the 2025 total direct compensation for our executives consisted of variable, at-risk compensation. Our calculation of the proportion of variable, at-risk total direct compensation includes the 2025 AIP award at target and long-term equity-based incentive award dollar value at target. The following charts illustrate the proportional components of 2025 compensation for our CEO, and the average proportional components of 2025 compensation for our other NEOs, excluding our former Chief Financial Officer, as well as a percentage of overall, variable, at-risk compensation. For additional information regarding the components of 2025 compensation for our NEOs, see “Compensation Discussion and Analysis—Components of 2025 Compensation” below.
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* Sums may not add up due to rounding; Average Other NEOs excludes our former Chief Financial Officer.
(1) The options shown at 2% were granted to Mr. Bailey prior to his transition to Senior Vice President and Chief Financial Officer.
8 Frontdoor, Inc. 2026 Proxy Statement
PROPOSAL 1
Election of Directors
The Company is seeking stockholder approval of the election of the eight director nominees identified below, each of whom is currently serving as a director of the Company.
The Board of Directors, upon the recommendation of the Nominating and Corporate Governance Committee of the Board (the “Nominating and Corporate Governance Committee”), has nominated the director nominees for election at the 2026 Annual Meeting to serve as directors until the 2027 Annual Meeting of Stockholders and until their successors have been duly elected and qualified. Each director nominee, if elected, will serve for a term of one year and until his or her successor is duly elected and qualified, or until his or her earlier death, resignation, retirement, disqualification or removal from office.
Except for Mr. Howard, who was elected to our Board effective March 17, 2026, the director nominees were last elected to the Board at the 2025 Annual Meeting. The director nominees are as follows.
Director Nominees |
William C. Cobb D. Steve Boland Anna C. Catalano Peter L. Cella Christopher L. Clipper Dennis W. Howard Brian P. McAndrews Liane J. Pelletier |
The Board of Directors knows of no reason why these nominees should be unable or unwilling to serve, but if that should be the case, proxies will be voted for the election of such substitute(s) as the Board may designate.
Background information about each of the director nominees can be found below under “—Directors of the Company.”
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THE BOARD OF DIRECTORS RECOMMENDS THAT YOU VOTE “FOR” THE ELECTION OF EACH OF THE DIRECTOR NOMINEES. |
Frontdoor, Inc. 2026 Proxy Statement 9
Proposal 1 Election of Directors
Directors of the Company
Directors of the Company
Below is a list of our current directors and their respective ages and committee memberships (as of March 30, 2026).
Name |
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Independent |
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Audit |
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Compensation |
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Nominating and Corporate |
William C. Cobb, Chairman(1) |
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D. Steve Boland |
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57 |
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Y |
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M |
Anna C. Catalano |
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66 |
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Y |
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C |
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Peter L. Cella |
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68 |
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Y |
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M |
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M |
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Christopher L. Clipper |
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57 |
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Y |
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C |
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Dennis W. Howard(2) |
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57 |
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Y |
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M |
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Brian P. McAndrews, Lead Director |
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67 |
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Y |
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C |
Liane J. Pelletier |
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68 |
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Y |
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M |
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M = Member C = Chair Y = Yes N = No
There are no family relationships among our directors and executive officers.
10 Frontdoor, Inc. 2026 Proxy Statement
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WILLIAM C. COBB Chairman of the Board of Directors and CEO |
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Professional Highlights |
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Mr. Cobb has served as the Chief Executive Officer of the Company since June 2022, was appointed to the Board of Directors of the Company in October 2018, and serves as Chairman of the Board of Directors. Mr. Cobb served on the board of directors of Terminix from April 2018 until the Spin-off. From May 2011 through July 2017, Mr. Cobb served as President and Chief Executive Officer, and from August 2010 to July 2017 Mr. Cobb served as a director of H&R Block, Inc., a provider of income tax return preparation and related services and products. From November 2000 to March 2008, Mr. Cobb served in various leadership roles at eBay, Inc., a global commerce and payments provider, including as President of eBay Marketplaces North America for four years and other senior management positions, including Senior Vice President and General Manager of eBay International and Senior Vice President of Global Marketing. Prior to joining eBay, Inc., Mr. Cobb held various marketing and executive positions at PepsiCo (and Tricon Global Restaurants when it was spun off in 1997) from 1987 to 2000. These positions included Senior Vice President and Chief Marketing Officer for Tricon International, Senior Vice President and Chief Marketing Officer at Pizza Hut, and Vice President, Colas at Pepsi Cola. Mr. Cobb previously served on the board of directors and as a member of the audit and finance committee and the nominating and governance committee of Deluxe Corporation, a technology-enabled solution company supporting financial institutions and small businesses. Mr. Cobb holds an undergraduate degree in Economics from the University of Pennsylvania and an M.B.A. from the Kellogg School of Management at Northwestern University. |
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Skills and Qualifications |
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Mr. Cobb’s wide array of executive leadership roles, wealth of knowledge in technology and online-focused businesses, experience at a newly spun-off company, and history of service on public company boards qualify him to serve on our Board of Directors. |
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Current Public |
Former Public Company Directorships |
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· Frontdoor, Inc. |
· Deluxe Corporation |
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D. STEVE BOLAND |
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Professional Highlights |
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Mr. Boland was appointed to the Board of Directors of the Company in October 2021, and serves on our Nominating and Corporate Governance Committee. Previously, from October 2021 to March 2025, Mr. Boland served as the Chief Administrative Officer of Bank of America Corporation, one of the world’s leading financial institutions, serving individual consumers, small- and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. From July 2020 to September 2021, Mr. Boland served as the President, Retail, for Bank of America Corporation. From July 2008 to July 2020, Mr. Boland served in various senior leadership roles for Bank of America Corporation, including Managing Director, Consumer Lending and Managing Director, Secured Consumer Lending. From January 1997 to July 2008, Mr. Boland served in various leadership roles at Countrywide Financial Corporation including as Managing Director, Senior Vice President and Reverse Mortgage Executive, until Countrywide Financial Corporation was acquired by Bank of America Corporation in 2008. Previously, Mr. Boland served as Vice President, National Affordable Lending Manager with Fleet Bank. Mr. Boland holds a Bachelor of Science degree in Organizational Studies from the School of Education and Social Policy at Northwestern University. |
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Skills and Qualifications |
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Mr. Boland’s extensive leadership and significant experience with customer-focused, digital-enabled businesses, as well as his deep understanding of banking, product and strategic management qualify him to serve on our Board of Directors. |
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Current Public |
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· Frontdoor, Inc. |
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Chairman of the Board of Directors
CEO
Age: 69
Director since:
2018
Committees
None
Independent
Age: 57
Director since:
2021
Committees
Nominating & Corporate Governance Committee
Proposal 1 Election of Directors
Directors of the Company
Frontdoor, Inc. 2026 Proxy Statement 11
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ANNA C. CATALANO |
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Professional Highlights |
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Ms. Catalano was appointed to the Board of Directors of the Company in September 2018, and serves as Chair of our Compensation Committee. From 1979 until her retirement in 2003, Ms. Catalano served in various leadership roles at BP p.l.c., a global energy producer, and its predecessor Amoco Corporation. Most recently, from 2000 to 2003, she served as Group Vice President, Global Marketing, for BP p.l.c. Ms. Catalano has significant international business experience, having served as President of Amoco Orient Oil Company, including two years during which she lived in Beijing. Ms. Catalano serves on the board of directors and is chair of the nominating and corporate governance committee of Ecovyst, Inc., an integrated and innovative global provider of specialty catalysts and services since July 2022; and on the board of directors, compensation committee and nominating, governance, and social responsibility committee of HF Sinclair Corporation, a petroleum and renewable fuels company since March 2022 (having served on the board of directors of HollyFrontier Corporation from 2017 until its acquisition by HF Sinclair Corporation). Ms. Catalano previously served on the board of directors of Kraton Corporation, a global producer of bio-based chemicals and specialty polymers, from 2011 until its acquisition in 2022; on the board of directors of Willis Towers Watson p.l.c., a global risk advisory, broking, and solutions company from 2016 to 2022 (having previously served on the board of directors of Willis Group from 2006 until the merger of Willis Group and Towers Watson & Co.); on the board of directors of Mead Johnson Nutrition Co., a global producer of infant and child nutrition, from 2010 until its acquisition in 2017; and on the board of directors of Chemtura Corp., a global specialty chemicals company, from 2011 to 2017. Ms. Catalano holds a Bachelor of Science degree in Business Administration from the University of Illinois, Champaign-Urbana. |
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Skills and Qualifications |
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Ms. Catalano’s senior leadership experience and extensive knowledge in marketing and communications, combined with her broad public company board experience and expertise in corporate governance, executive compensation and board function, qualify her to serve on our Board of Directors. |
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Current Public |
Former Public Company Directorships |
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· Frontdoor, Inc. · Ecovyst, Inc. · HF Sinclair Corporation |
· Kraton Corporation · Willis Towers Watson p.l.c. |
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PETER L. CELLA |
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Professional Highlights |
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Mr. Cella was appointed to the Board of Directors of the Company in October 2018, and serves as a member of our Audit Committee and our Compensation Committee. Mr. Cella has been a private investor since August 2017. From 2011 to August 2017, Mr. Cella served as President and Chief Executive Officer of Chevron Phillips Chemical Company LLC, a global petrochemical company. Previously, Mr. Cella served in various executive positions at BASF Corp., a global producer and marketer of chemicals and related products; INEOS Nitriles, a global producer of acrylonitrile, acetonitrile, and related chemicals; Innovene, LLC, a producer of olefins and derivatives; and BP p.l.c., a global energy producer. Mr. Cella serves on the board of directors and the audit committee of Rockpoint Gas Storage Inc. (listed in Toronto, Canada), an independent owner and operator of natural gas storage in North America, and serves on the board of directors of Inter Pipeline Ltd., a petroleum transportation, natural gas liquids processing and bulk liquid storage business that was taken private in 2021. Mr. Cella previously served on the board of directors, was a member of the audit committee and chaired the sustainability, risk, and HSE Committee of Saudi Aramco, a global energy and chemicals enterprise from April 2018 to June 2024; and Terminix from February 2017 until October 2018. Mr. Cella received a Bachelor of Science degree in Finance from the University of Illinois and an M.B.A. from Northwestern University’s Kellogg Graduate School of Management. |
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Skills and Qualifications |
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Mr. Cella’s financial background and experience in executive leadership and running varied businesses, history of building strong leadership teams and experience serving on and leading committees at other company boards qualify him to serve on our Board of Directors. |
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Current Public |
Former Public Company Directorships |
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· Frontdoor, Inc · Rockpoint Gas Storage Inc. (listed in Canada) |
· Saudi Aramco (listed in Saudi Arabia) |
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Independent
Age: 66
Director since:
2018
Committees
Compensation Committee Chair
Independent
Age: 68
Director since:
2018
Committees
Audit Committee &
Compensation Committee
Proposal 1 Election of Directors
Directors of the Company
12 Frontdoor, Inc. 2026 Proxy Statement
Independent
Age: 57
Director since:
2021
Committees
Audit Committee Chair
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CHRISTOPHER L. CLIPPER |
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Professional Highlights |
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Mr. Clipper was appointed to the Board of Directors of the Company in October 2021, and serves as Chair of the Audit Committee. Currently, Mr. Clipper serves as the Chief Financial Officer of David Yurman Enterprises, LLC, a privately-held American luxury jewelry company. From March 2020 to February 2024, Mr. Clipper served as the Senior Vice President and Chief Financial Officer, Innovation and Go-To-Market strategies of Ralph Lauren Corporation, a global leader in the design, marketing and distribution of premium lifestyle products. From November 2017 to February 2020, Mr. Clipper served as the Senior Vice President and Chief Financial Officer, North America and Club Monaco of Ralph Lauren Corporation. From January 2011 to July 2017, Mr. Clipper served in various leadership roles at Nike, Inc., a global retailer of athletic footwear and apparel, including as Vice President and Chief Financial Officer, Global Operations, North America and Vice President and Group Head, Global Strategy and Corporate Development. Prior to joining Nike, from January 2004 to January 2011, Mr. Clipper held various leadership positions at Time Warner, Inc., a leader in media and entertainment that operates Turner, Home Box Office (HBO) and Warner Bros. business units that was acquired by AT&T in June 2018. These positions included Group Vice President, Financial Planning and Analysis, Vice President, Investor Relations and Executive Director, Mergers and Acquisitions. Mr. Clipper holds a Bachelor of Arts degree in Economics from Brown University and an M.B.A. from Stanford University Graduate School of Business. |
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Skills and Qualifications |
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Mr. Clipper’s extensive accounting, financial management and leadership experience as well as his deep understanding of consumer-focused businesses, operations, strategy, investor relations and mergers and acquisitions, qualify him to serve on our Board of Directors. |
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Current Public |
Former Public Company Directorships |
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· Frontdoor, Inc. |
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· None |
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DENNIS W. HOWARD |
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Professional Highlights |
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Mr. Howard was appointed to the Board of Directors of the Company in March 2026, and serves as a member of our Audit Committee. Mr. Howard currently serves as the Managing Director, Chief Technology, Operations, and Data Officer for Charles Schwab, a global financial services firm. He is responsible for Charles Schwab’s information technology, including a centralized technology organization and an enterprise project management office. In addition, he is responsible for the firm’s data assets, teams that handle all operational transactions for current clients of Charles Schwab, and the firm’s transformation-related initiatives. Mr. Howard joined Charles Schwab in September 2014 as Senior Vice President of core technology solutions and served as the firm’s Executive Vice President and Chief Information Officer from 2016-2025. Prior to Charles Schwab, Mr. Howard was Senior Vice President and Chief Information Officer for Visa Inc. During his 12-year tenure at Visa, he served in various information technology roles across a number of disciplines, including development of enterprise systems, data and analytics, and client-facing product development. Mr. Howard received his bachelor's degree from the University of Texas at San Antonio, and his master's degree from Baylor University. |
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Skills and Qualifications |
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Mr. Howard’s extensive information technology, cybersecurity and leadership experience, as well as his deep understanding of consumer-focused technology, operations planning and management, qualify him to serve on our Board of Directors. |
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Current Public |
Former Public Company Directorships |
||
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|
|
· Frontdoor, Inc. |
· SolarWinds Corporation |
||
Independent
Age: 57
Director since:
2026
Committees
Audit Committee
Proposal 1 Election of Directors
Directors of the Company
Frontdoor, Inc. 2026 Proxy Statement 13
|
|
BRIAN P. McANDREWS Lead Director |
||
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Professional Highlights |
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Mr. McAndrews was appointed to the Board of Directors of the Company in October 2018, serves as Lead Director since June 2022, and is Chair of our Nominating and Corporate Governance Committee. Currently, Mr. McAndrews is a Senior Advisor for Spectrum Equity Management, L.P., a leading growth equity firm focusing on category-leading software, data and consumer internet businesses. Previously, Mr. McAndrews served as President and Chief Executive Officer, and chairman of the board of directors, of Pandora Media, Inc., an internet radio company, from 2013 until 2016. Prior to that, he served as a venture partner with Madrona Venture Group, LLC, a venture capital firm, from 2012 to September 2013, and as a managing director of Madrona from 2009 to 2011. He also previously held executive positions at Microsoft Corporation, a global software company, and aQuantive, a leading digital marketing services and technology company, which was acquired by Microsoft in 2007. Mr. McAndrews currently serves on the board of directors and is a member and chairman of the compensation committee of The New York Times Company, a multimedia news and information company, and is a member of the compensation committee of Xero Limited, a cloud-based accounting software company for small- and medium-sized businesses. Mr. McAndrews previously served on the boards of directors of Chewy, Inc., an online destination for pet parents until 2021; Grubhub Inc., an online and mobile food ordering company until 2021; Teladoc Health, Inc., an online provider of medical services until 2020; Fisher Communications, Inc., a media company until it was acquired in 2013; and Clearwire Corporation, a telecommunications company until it was acquired in 2013. Mr. McAndrews holds a Bachelor’s degree in Economics from Harvard College and an M.B.A. from the Stanford Graduate School of Business. |
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Skills and Qualifications |
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Mr. McAndrews brings to the Company and the Board of Directors deep traditional and digital media experience gained through his role as a chief executive officer of public companies in the technology industry, as well as his private and public company directorships. Mr. McAndrews has held several leadership positions on public company boards, including as chairman, lead director and chairing committees. In addition, his background and his understanding of digital advertising and the integration of emerging technologies qualifies Mr. McAndrews to serve on our Board of Directors. |
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Current Public |
Former Public Company Directorships |
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· Frontdoor, Inc. · The New York Times Company · Xero Limited (listed in Australia) |
· Chewy, Inc. · Grubhub Inc. · Teladoc Health, Inc. |
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LIANE J. PELLETIER |
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Professional Highlights |
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Ms. Pelletier was appointed to the Board of Directors of the Company in September 2018, and serves as a member of our Audit Committee and our Compensation Committee. Since 2011, Ms. Pelletier has served as a public company independent board director across multiple industries. From 2003 through 2011, Ms. Pelletier was the Chairwoman, Chief Executive Officer, and President of Alaska Communications Systems, an Alaska-based telecommunications and information technology services provider. Prior to this, Ms. Pelletier held a number of executive positions at Sprint Corporation, a telecommunications company. Ms. Pelletier currently serves on the board of directors and is chair of the nominating and corporate governance committee at Expeditors International of Washington, Inc., a global logistics company; and also serves on the board of directors and is a member of the audit and risk committee at Ameriprise Financial, Inc., a financial services company. Ms. Pelletier previously served on the board of directors and was lead independent director at ATN International, Inc., a holding company of telecommunication companies until April 2023; and served on the board of directors at Switch, Inc., a data center and technology infrastructure company, until it was sold in December 2022. In 2017, she earned a professional certificate in cybersecurity from Carnegie Mellon’s Software Engineering Institute. Ms. Pelletier earned her B.A. in Economics magna cum laude from Wellesley College and an M.S. from the Sloan School of Business at the Massachusetts Institute of Technology. |
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Skills and Qualifications |
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Ms. Pelletier’s experience in executive and boardroom leadership, particularly in highly regulated industries, and expertise in cybersecurity oversight, business model transformation and shareholder engagement qualify her to serve on our Board of Directors. |
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Current Public |
Former Public Company Directorships |
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· Frontdoor, Inc. · Ameriprise Financial, Inc. · Expeditors International of Washington, Inc. |
· ATN International, Inc. · Switch, Inc. |
||
Lead Director
Independent
Age: 67
Director since:
2018
Committees
Nominating and Corporate Governance Committee Chair
Independent
Age: 68
Director since:
2018
Committees
Audit Committee
& Compensation Committee
Proposal 1 Election of Directors
Directors of the Company
14 Frontdoor, Inc. 2026 Proxy Statement
Knowledge, Skills and Experience of Directors
Our Board of Directors values a diversity of perspectives among its members, as well as a range of different experiences, educations, backgrounds, expertise, skills and knowledge.
Skills Matrix
The following matrix provides information regarding our directors, including certain types of knowledge, skills, and/or experience possessed by one or more of our directors, which our Board of Directors believes are relevant to our business and industry. The matrix also indicates which directors are independent and the tenure for each director.
The matrix does not encompass all of the knowledge, skills or experiences of our directors, but focuses on categories in which our directors possess substantial knowledge, skills and experience in an area. The fact that a director has not indicated substantial knowledge, skill and experience in an area does not mean he or she does not possess significant knowledge, skill and experience in that area or is unable to contribute to the decision-making process in that area. The type and degree of knowledge, skill and experience listed below may vary among the members of the Board of Directors.
|
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Cobb |
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Boland |
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Catalano |
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Cella |
|
Clipper |
|
Howard |
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McAndrews |
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Pelletier |
Knowledge, Skills and Experience |
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Consumer Services |
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● |
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● |
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● |
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● |
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● |
Technology |
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● |
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● |
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Digital and Platform Services |
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● |
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● |
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● |
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● |
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● |
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Executive Leadership |
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● |
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● |
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● |
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● |
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● |
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● |
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● |
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● |
Public Company Boards |
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● |
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● |
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● |
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● |
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● |
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● |
Marketing |
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● |
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● |
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● |
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● |
Product Development |
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● |
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● |
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● |
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● |
Public Accounting & Finance |
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● |
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● |
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Strategy and M&A |
|
● |
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● |
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● |
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● |
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● |
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● |
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● |
Independence |
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Non-Employee Director |
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● |
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● |
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● |
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● |
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● |
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● |
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● |
Tenure |
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Years |
|
7.5 |
|
4.5 |
|
7.5 |
|
7.5 |
|
4.5 |
|
<1 |
|
7.5 |
|
7.5 |
Frontdoor, Inc. 2026 Proxy Statement 15
Director Compensation
The Company uses a combination of cash and equity-based compensation to attract and retain qualified candidates to serve on our Board of Directors. In setting director compensation for non-employee directors, our Board considers the significant amount of time that directors expend in fulfilling their duties to the Company, as well as the knowledge, skill and experience levels required by the Company of members of our Board. Directors who are employees of the Company receive no compensation for their service as directors.
Compensation Paid to Non-Employee Directors
Under the director compensation program, members of our Board of Directors who are not employees of the Company receive an annual retainer comprised of cash and stock. Additionally, the Chairman of the Board of Directors, if not an employee, or Lead Director and the chairs of the Audit Committee of the Board (the “Audit Committee”), the Compensation Committee of the Board (the “Compensation Committee”) and the Nominating and Corporate Governance Committee, each receive an additional retainer. In April 2025, the Board assessed the compensation paid to the non-employee directors, with input from the Compensation Committee’s independent compensation consultant, Meridian Compensation Partners, LLC (“Meridian”) as part of its evaluation, and determined (i) that an increase to the equity portion of the annual base retainer paid to each non-employee director from $160,000 to $180,000 was warranted, (ii) that an increase to the annual retainer for service as the Lead Director (if applicable) from $25,000 to $30,000 was warranted, (iii) that an increase to the annual retainer for service as Chair of the Nominating and Corporate Governance Committee from $10,000 to $15,000 was warranted, and (iv) to implement a cash retainer for membership (other than for service as Chair) on each committee of the Board in the amounts shown in the table below, in each case effective as of April 24, 2025. No other changes were made to the director compensation program. The types, amounts, forms and timing of these retainers are set forth in the following table.
Retainer Type |
|
Annual Retainer |
|
Form of Payment |
|
Timing of Payment |
Base Retainer |
|
$270,000 |
|
● $90,000 in Cash ● $180,000 in shares of fully vested Common Stock |
|
● Quarterly installments ● Annually, at the time of the annual meeting of stockholders |
Retainer for non-employee Chairman of the Board |
|
$150,000 |
|
● $50,000 in Cash ● $100,000 in shares of fully vested Common Stock |
|
● Quarterly installments ● Annually, at the time of the annual meeting of stockholders |
Retainer for Lead Director |
|
$30,000 |
|
● Cash |
|
● Quarterly installments |
Retainer for Chair of Audit Committee |
|
$25,000 |
|
● Cash |
|
● Quarterly installments |
Retainer for Member of Audit Committee |
|
$12,500 |
|
● Cash |
|
● Quarterly installments |
Retainer for Chair of Compensation Committee |
|
$20,000 |
|
● Cash |
|
● Quarterly installments |
Retainer for Member of Compensation Committee |
|
$10,000 |
|
● Cash |
|
● Quarterly installments |
Retainer for Chair of Nominating and Corporate Governance Committee |
|
$15,000 |
|
● Cash |
|
● Quarterly installments |
Retainer for Member of Nominating and Corporate Governance Committee |
|
$7,500 |
|
● Cash |
|
● Quarterly installments |
16 Frontdoor, Inc. 2026 Proxy Statement
Director Compensation
Compensation Paid to Non-Employee Directors
Each director may elect to defer the receipt of the shares of Common Stock as fully vested deferred share equivalents (“DSEs”) to a point in the future. The shares are issued pursuant to the 2018 Omnibus Incentive Plan (the “2018 Plan”), and the number of shares of our Common Stock granted as part of the equity retainer is determined by using the grant date fair value, as defined in the 2018 Plan as the closing price of our Common Stock on the Nasdaq Global Select Market (“Nasdaq”) on the trading day that immediately precedes the grant date. This value is then used to determine the number of shares required to satisfy the share portion of the director’s equity retainer, rounded to the nearest whole share for the avoidance of fractional shares. A new director, or a director who assumes a role for which an additional retainer is payable, shall receive a prorated award of cash on the next regular payment date for the applicable retainer and a prorated award of Common Stock or DSEs on the date such director joined the Board. A non-employee director may not be granted an award under the 2018 Plan in any calendar year with a value of more than US $500,000 (or the equivalent of such amount denominated in the participant’s local currency).
We reimburse all of our directors for reasonable expenses incurred in connection with attending Board meetings and committee meetings. The Company will also reimburse certain expenses incurred by directors in connection with attending director education programs, as well as memberships in director organizations.
Director Compensation Table
The following table for fiscal 2025 sets forth information concerning the compensation by the Company to our current and former non-employee directors, other than Dr. Ganesh who stepped down from our Board of Directors on June 30, 2025 and has served as our Senior Vice President and Chief Technology Officer since July 14, 2025, The compensation paid to Dr. Ganesh for his service as a non-employee member of our Board of Directors is included in the “Summary Compensation Table“ below.
Name |
|
Fees Earned or |
|
|
Stock Awards(2) |
|
|
Total |
|
|||
|
|
|
|
|
|
|
|
|
|
|||
Lara H. Balazs (3) |
|
$ |
45,000 |
|
|
$ |
— |
|
|
$ |
45,000 |
|
D. Steve Boland |
|
$ |
93,750 |
|
|
$ |
180,014 |
|
|
$ |
273,764 |
|
Anna C. Catalano(4) |
|
$ |
110,000 |
|
|
$ |
180,014 |
|
|
$ |
290,014 |
|
Peter L. Cella |
|
$ |
101,250 |
|
|
$ |
180,014 |
|
|
$ |
281,264 |
|
Christopher L. Clipper(5) |
|
$ |
115,000 |
|
|
$ |
180,014 |
|
|
$ |
295,014 |
|
Brian P. McAndrews(6) |
|
$ |
130,000 |
|
|
$ |
180,014 |
|
|
$ |
310,014 |
|
Liane J. Pelletier |
|
$ |
101,250 |
|
|
$ |
180,014 |
|
|
$ |
281,264 |
|
Frontdoor, Inc. 2026 Proxy Statement 17
Corporate Governance
What We Do and Don’t Do Within Our Governance Program
In designing our corporate governance program, our Nominating and Corporate Governance Committee and Board of Directors have incorporated certain practices and omitted certain other practices, as follows.
What We Do |
|
What We Don’t Do |
||
|
Independent Lead Director |
|
|
No Non-independent Directors on Committees |
|
Board Composition Disclosure |
|
|
No Classified Board |
|
Annual Board and Committee Self-Assessments |
|
|
No Dual Class Voting Stock |
|
Oversight of Risk, including ERM, ESG and Cybersecurity |
|
|
No Supermajority Voting Requirement to Amend Charter or Bylaws |
|
Annual Succession Planning |
|
|
No Supermajority Voting on Business Combinations |
|
Regular Board Executive Sessions of Independent Directors |
|
|
No Cumulative Voting |
|
Code of Conduct and Financial Code of Ethics |
|
|
No Plurality Voting in Uncontested Elections |
Elements of Governance
Following are highlights of corporate governance at the Company. Please see the following pages of this section for more information.
Board Independence |
|
● All of our directors other than our Chairman and CEO are independent. |
Board Committees |
|
● We have three Board committees—Audit, Compensation and Nominating and Corporate Governance. |
|
● All committees are comprised of independent directors; all Audit Committee and Compensation Committee members meet the enhanced independence standards for these committees, respectively. |
|
Executive Sessions |
|
● Independent members of the Board and each of the committees regularly meet in executive session with no member of management present. |
Board Leadership |
|
● Our Board elected an independent Lead Director upon the commencement of the Chairman of the Board’s dual role as Chairman and CEO. |
|
|
● The authority and responsibilities of the Lead Director are specified in our Corporate Governance Guidelines, as discussed below. |
Board Composition |
|
● The current composition of the Board encompasses a broad range of skills, experience, backgrounds, perspectives and industry knowledge. |
Risk Oversight |
|
● The Board and its committees are active in overseeing Company risk and regularly review the allocation of risk oversight among the Board and committees. |
Accountability to Stockholders |
|
● All directors are elected by our stockholders annually. |
|
● Only a majority vote of stockholders is required to amend our restated certificate of incorporation or our amended and restated bylaws. |
|
|
● We have a robust stockholder engagement program. |
|
Self-Assessment |
|
● The Board and its committees annually evaluate and discuss their respective performance and effectiveness. |
|
|
● The Nominating and Corporate Governance Committee establishes procedures to oversee and report findings to the Board. |
Executive Succession Planning |
|
● The CEO reports to the Board on executive succession planning at least annually, generally covering at least two levels below the executive team. |
|
|
● The full Board is responsible for ensuring that there is a succession plan for the CEO. |
ESG Oversight |
|
● The Board or its Committees are responsible for overseeing ESG initiatives and risk at the Company and receives regular updates from management. |
18 Frontdoor, Inc. 2026 Proxy Statement
Corporate Governance
Our Board of Directors
Our Board of Directors
Our business and affairs are managed under the direction of our Board of Directors. Our Board is composed of a majority of independent directors. In accordance with our Charter, our Board is fully declassified, and each director will serve for a term of one year and until his or her successor is duly elected and qualified, or until his or her earlier death, resignation, retirement, disqualification or removal from office.
At any meeting of stockholders for the election of directors at which a quorum is present, the election will be determined by a majority of the votes cast, in the case of an uncontested election, with directors not receiving a majority of the votes cast required to tender their resignations for consideration by the Board of Directors. In the case of a contested election, the election will be determined by a plurality of the votes cast.
The number of members on our Board of Directors may be fixed by resolution adopted from time to time by the Board. Any vacancies or newly created directorships may be filled only by the affirmative vote of a majority of directors then in office, even if less than a quorum, or by a sole remaining director. Each director shall hold office until his or her successor has been duly elected and qualified, or until his or her earlier death, resignation, retirement, disqualification or removal.
The names and certain information with respect to each of our current directors is set forth above in the section entitled “Proposal 1, Election of Directors—Directors of the Company.”
The Board of Directors held 9 meetings during fiscal 2025. In fiscal 2025, each director then currently serving on our Board attended our 2025 Annual Meeting, and each of our directors then serving on our Board attended 100% of the meetings of the Board and committees on which he or she served as a member during fiscal 2025, other than Ms. Catalano and Mr. Clipper who attended 93% and 94%, respectively.
Director Independence
A majority of our Board of Directors is composed of directors who are “independent,” as defined by the rules of the Nasdaq and the Corporate Governance Guidelines adopted by our Board. We seek to have all of our non-management directors qualify as “independent” under these standards. Our Board has established guidelines to assist it in making its determination of director independence. These guidelines provide that no director qualifies as “independent” unless the Board affirmatively determines that the director has no material relationship with our Company or our subsidiaries (either directly or as a partner, stockholder or officer of an organization that has a relationship with our Company or any of our subsidiaries). In making its assessment, our Board determined that any transactions both made in the ordinary course of business between our Company and any director affiliate, and within the Nasdaq and our independence standards, were not pertinent to an evaluation of independence.
Our Board of Directors has determined that each of Messrs. Boland, Cella, Clipper, Howard and McAndrews, Dr. Ganesh (prior to his employment as Senior Vice President and Chief Technology Officer of the Company) and each of Mses. Balazs (prior to her departure from our Board on May 14, 2025), Catalano and Pelletier were independent under the director independence standards described above. Since Mr. Cobb is our CEO, he is not considered by our Board to be independent. In connection with his appointment as Senior Vice President and Chief Technology Officer of the Company, Dr. Ganesh resigned from the Board and Audit Committee as of June 30, 2025.
Our Board will assess on a regular basis, and at least annually, the independence of directors and, based on the recommendation of the Nominating and Corporate Governance Committee, will make a determination as to which members are independent.
Committees of the Board of Directors
Our Board of Directors has the following standing committees: Audit Committee, Compensation Committee and Nominating and Corporate Governance Committee. The charter for each of these committees is available without charge on our corporate website at www.frontdoorhome.com.
Frontdoor, Inc. 2026 Proxy Statement 19
Corporate Governance
Committees of the Board of Directors
Audit Committee
Our Audit Committee was established in accordance with Section 3(a)(58)(A) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), the rules and regulations of the Securities and Exchange Commission (the “SEC”) and the Nasdaq listing standards.
Our Audit Committee is primarily responsible, among its other duties and responsibilities, for oversight of the following:
The current members of the Audit Committee are Christopher L. Clipper (Chair), Peter L. Cella, Dennis W. Howard and Liane J. Pelletier. Our Board of Directors has designated each of Mr. Clipper, Mr. Cella and Ms. Pelletier as an “audit committee financial expert” and has determined that each member of the Audit Committee is “financially literate” under the Nasdaq listing standards and SEC rules. Our Board also has determined that each member of the Audit Committee is “independent” as defined under the Nasdaq listing standards and Exchange Act rules and regulations.
The Audit Committee held 4 meetings during fiscal 2025.
Compensation Committee
Our Compensation Committee is primarily responsible, among its other duties and responsibilities, for the following:
20 Frontdoor, Inc. 2026 Proxy Statement
Corporate Governance
Committees of the Board of Directors
For additional information on the Compensation Committee’s activities, its use of outside advisors and its consideration and determination of executive compensation, as well as the role of our CEO in recommending the amount or form of compensation paid to the other NEOs, see “Compensation Discussion and Analysis.”
The current members of the Compensation Committee are Anna C. Catalano (Chair), Peter L. Cella and Liane J. Pelletier. Our Board of Directors has determined that each member of the Compensation Committee is “independent” as defined under the Nasdaq listing standards and SEC rules. The Compensation Committee has the authority to retain compensation consultants, outside counsel and other advisers.
The Compensation Committee held 6 meetings during fiscal 2025.
Compensation Committee Interlocks and Insider Participation
During 2025, no member of the Compensation Committee was at any time an officer or employee of our Company or any of our subsidiaries, nor was any such person a former officer of our Company or any one of our subsidiaries. During 2025, there were no related person transactions between our Company and any of our Compensation Committee members that require disclosure under SEC rules.
Nominating and Corporate Governance Committee
Our Nominating and Corporate Governance Committee is primarily responsible, among its other duties and responsibilities, for the following:
The current members of the Nominating and Corporate Governance Committee are Brian P. McAndrews (Chair) and D. Steve Boland. Our Board of Directors has determined that each member of the Nominating and Corporate Governance Committee is “independent” as defined under the Nasdaq listing standards.
The Nominating and Corporate Governance Committee held 5 meetings during fiscal 2025.
Corporate Governance Practices and Policies
Board Leadership Structure
Our Board of Directors is currently led by our Chairman, William C. Cobb. Our Board believes that the Company and its stockholders are best served by maintaining the flexibility to determine whether the Chairman and CEO positions should be separated or combined at a given point in time in order to provide appropriate leadership for us at that time. Accordingly, as stated in our Corporate Governance Guidelines, the Board has no policy with respect to the separation of the offices of Chairman of the Board and CEO, provided that if the Chairman of the Board of Directors is not independent, the independent directors are required to annually appoint an independent Lead Director. Mr. McAndrews has been appointed by the independent directors to serve as the independent Lead Director since June 1, 2022. The Board believes that its current leadership structure is appropriate for the Company at this time and that the responsibilities of the independent Lead Director help to assure appropriate oversight of the Company’s management by the Board and optimal functioning of the Board. The effectiveness of the independent Lead Director is enhanced by the Board’s independent character. In addition, as described in more detail in the biographies in “Directors of the Company,” the independent Lead Director and the independent directors have significant experience with public company management and governance. This structure facilitates the continued strong communication and coordination between management and the Board and enables the Board to fulfill its risk oversight responsibilities.
Frontdoor, Inc. 2026 Proxy Statement 21
Corporate Governance
Corporate Governance Practices and Policies
Lead Director Responsibilities
The Company’s Corporate Governance Guidelines further specify the authority and responsibilities of the Lead Director, who is responsible to help coordinate the efforts of the independent directors in the interest of ensuring that objective judgment is brought to bear on significant issues relating to the governance and operations of the Company, including:
Executive Sessions
Our Board of Directors holds regular and special meetings throughout each calendar year. In conjunction with those meetings, executive sessions, including separate meetings of only the independent directors, are regularly scheduled throughout the year. Our independent Lead Director presides over the executive sessions of the Board. The committees of the Board, as described more fully above, also meet regularly in executive sessions.
Selection of Nominees for Election to the Board
Our Corporate Governance Guidelines provide that the Nominating and Corporate Governance Committee will identify and select, or recommend that the Board of Directors select, Board candidates who the Nominating and Corporate Governance Committee believes are qualified and suitable to become members of the Board, consistent with the criteria for selection of new directors adopted from time to time by the Board. The Nominating and Corporate Governance Committee will consider, among other things, the Board’s current composition, including experience, expertise, background and balance of inside, outside and independent directors, and the general qualifications of the potential nominees in light of director qualification criteria established by our Board, as described further below under “─Director Qualification Standards.”
In identifying candidates for election to the Board of Directors, the Nominating and Corporate Governance Committee will consider nominees recommended by directors, stockholders and other sources. The Nominating and Corporate Governance Committee will review each candidate’s qualifications, including whether a candidate possesses any of the specific qualities and skills desirable in certain members of the Board. Evaluations of candidates generally involve a review of background materials, internal discussions and interviews with selected candidates as appropriate. Upon selection of a qualified candidate, the Nominating and Corporate Governance Committee will recommend the candidate for consideration by the full Board. The Nominating and Corporate Governance Committee has also engaged third-party search firms to assist it in identifying, evaluating and recommending potential nominees, including Mr. Howard, who was elected in March 2026.
The Nominating and Corporate Governance Committee will consider director candidates proposed by stockholders on the same basis as recommendations from other sources. Any stockholder who wishes to recommend a prospective candidate for the Board of Directors for consideration by the Nominating and Corporate Governance Committee may do so by submitting the name and qualifications of the prospective candidate in writing to the following address: c/o Corporate Secretary, Frontdoor, Inc., 3400 Players Club Parkway, Suite 300, Memphis, Tennessee 38125-1731. Any such submission should also describe, among other things, the experience, qualifications, attributes and skills that make the prospective candidate a suitable nominee for the Board, as well as any connections of the prospective candidate with our Company that may be relevant and any other disclosures that would be required to be made in a proxy statement or similar filing with respect to any nomination of directors. Our Bylaws set forth the complete requirements for direct nomination by a stockholder of persons for election to the Board.
22 Frontdoor, Inc. 2026 Proxy Statement
Corporate Governance
Corporate Governance Practices and Policies
Director Qualification Standards
The Nominating and Corporate Governance Committee charter sets forth that the committee will identify and recommend to the Board of Directors potential director nominees it believes are qualified and suitable to become members of the Board, consistent with criteria for selection of new directors adopted from time to time by the Board. In addition to evaluating a potential director’s independence, the committee will consider whether a potential director satisfies criteria established by the Board of Directors in order to assure that our Board will have the necessary breadth and depth to perform its oversight function effectively, such as: integrity, honesty and adherence to high ethical standards; demonstrated business acumen, experience and ability to exercise sound judgments and willingness to contribute positively to the decision-making process of the Company; skills and experience in one or more areas relevant to us; willingness and capability to take the time to actively participate in Board and committee meetings and related activities; ability to understand the interests of our various constituencies; and the ability to satisfy independence standards with no conflicts of interest. Our Board values a diversity of perspectives on the Board, as well as a range of different experiences, educations, backgrounds, expertise, skills and knowledge. The committee may reevaluate and recommend for Board approval the relevant criteria for Board membership from time to time in response to changing business factors or regulatory requirements. Our full Board will be responsible for selecting candidates for election as directors based on the recommendation of the Nominating and Corporate Governance Committee.
Corporate Governance Guidelines
Our Board of Directors has adopted Corporate Governance Guidelines to address significant corporate governance issues. These guidelines provide a framework for our corporate governance initiatives and cover topics including, but not limited to, director qualification and responsibilities, Board composition, director orientation and continuing education, ethics and conflict of interest, Board access to management and advisers, director compensation, Board and committee self-evaluation, the responsibilities of our Lead Director, Board meetings and administration and succession planning. The Nominating and Corporate Governance Committee is responsible for overseeing and reviewing the guidelines and reporting and recommending to our Board any changes to the guidelines. The guidelines are available without charge on our corporate website.
Stockholder Engagement |
|
We expect all of our directors to attend our annual meetings of stockholders and be available to answer questions from stockholders at the meetings. Between meetings, our Chairman of the Board of Directors and CEO, and/or our Senior Vice President and Chief Financial Officer (“CFO”), engage with stockholders on a regular basis at industry and financial conferences, road shows, and one-on-one meetings. In addition, we are committed to engaging in stockholder outreach to better understand our stockholders’ perspectives and to better understand their priorities and concerns on the topics of our corporate governance and executive compensation, among other topics. We believe that ongoing engagement builds mutual trust and understanding with our stockholders. |
Communicating with the Board of Directors
Any stockholder or interested party who wishes to communicate with our Board of Directors as a whole, the independent directors, or any individual member of the Board or any committee of the Board may write to or email the Company at: c/o Chief Legal Officer, Frontdoor, Inc., 3400 Players Club Parkway, Suite 300, Memphis, Tennessee 38125-1731 or Board_of_Directors@frontdoorhome.com.
Our Board of Directors has designated our Chief Legal Officer or his or her designee as its agent to receive and review written communications addressed to the Board, any of its committees, or any Board member or group of Board members. The Chief Legal Officer may communicate with the sender for any clarification. The Chief Legal Officer will promptly forward to the Chairman of the Board and Lead Director all communications, other than ordinary business communications, and in consultation with our Chairman of the Board and CEO, will determine the next steps. The Chief Legal Officer will also forward to the appropriate committee chair any communication alleging financial, legal, ethical or compliance issues or any other matter deemed by the Chief Legal Officer to be potentially material to us. As an initial matter, the Chief Legal Officer will determine whether the communication is a proper communication for the Board. The Chief Legal Officer will not forward to the Board, any committee or any director communications of a personal nature or not related to the duties and responsibilities of the Board,
Frontdoor, Inc. 2026 Proxy Statement 23
Corporate Governance
Corporate Governance Practices and Policies
including, without limitation, junk mail and mass mailings, business or employment solicitations, routine customer service complaints, new product or service suggestions, opinion survey polls or any other communications deemed by the Chief Legal Officer to be insignificant to the Company, which we consider to be ordinary business communications. The Chief Legal Officer provides regular reports on the communications received to the Nominating and Corporate Governance Committee.
Risk Oversight
Our Board of Directors as a whole has responsibility for overseeing our risk management. Our Board gains in-depth visibility into business exposure by retaining direct oversight of certain risks or allocating responsibility for certain other risk areas to its committees. Each committee provides reports to the full Board regarding the matters that it oversees. Because it directly impacts oversight of our operations and our strategy, the Board is also responsible for oversight of our ERM program. Our management and Board have identified key risks for the Company, each of which is assigned to one or more management leaders and either the full Board or a Board committee for periodic updates. Our Board has ready access to management and external advisors; receives regular reports from our risk management, compliance, legal and internal audit departments that are designed to provide visibility to the Board into the identification and assessment of key risks and our risk mitigation strategy; and has adopted multiple policies and practices that guide our activities.
The full Board of Directors has primary responsibility for evaluating strategic and operational risk management, including the evaluation, use and oversight of artificial intelligence by the Company, and succession planning. Our Audit Committee is responsible for overseeing our major financial and accounting risk exposures and the steps our management has taken to monitor and control these exposures, including policies and procedures for assessing and managing risk, and for overseeing compliance related to legal and regulatory exposure, and meets regularly with our Chief Legal Officer, who serves as our chief compliance officer. Our Audit Committee also undertakes responsibility for assisting the Board in overseeing cybersecurity risk, as discussed above under “Risk Oversight,” including policies and procedures for assessing and managing that risk, and meets with appropriate members of our management team regarding such risk at least quarterly. We acknowledge the potential impact that cybersecurity incidents and technology disruptions could have on our business, employees and customers and are deeply committed to ensuring strong cybersecurity measures. Our technology and information security teams are focused on developing and implementing tools that help prevent cyber incidents, making our operations more resilient to them, and educating our employees on proactive mitigation practices on a continuous basis. Our Compensation Committee evaluates risks arising from our compensation policies and practices, as more fully described below. The Nominating and Corporate Governance Committee oversees risks associated with ESG issues, including the assessment and development of plans to address risks arising from ESG issues.
Compensation Risk Assessment
During 2025, under the oversight of our Compensation Committee, we performed an assessment of risks related to our compensation programs, including our executive compensation programs. We determined that the risks arising from our 2025 compensation policies and practices were not reasonably likely to have a material adverse effect on the Company.
Code of Conduct and Financial Code of Ethics
Our Board of Directors has adopted a Code of Conduct that applies to all of our directors, officers and employees, as well as a Financial Code of Ethics that applies to the CEO, CFO, Controller, and other designated officers and employees, including our financial employees. The Code of Conduct and Financial Code of Ethics each address matters such as acting with integrity, conflicts of interest, confidentiality and compliance with laws and regulations. The Company takes seriously allegations of non-compliance with the Code of Conduct, other Company policies or applicable laws and regulations. The Company maintains the confidentiality of information and individuals related to reports of violations required by law or when needed to properly examine or adequately respond to the matter. Employees may submit concerns and other complaints, including with respect to accounting, internal accounting controls or auditing matters, fraud or other non-compliance anonymously through our Ethics Hotline or corporate website. The Code of Conduct and the Financial Code of Ethics are available without charge on our corporate website.
We will promptly disclose any substantive changes in or waiver of, together with reasons for any waiver of, either of these codes granted to our executive officers or our directors, by posting such information on our corporate website.
24 Frontdoor, Inc. 2026 Proxy Statement
Corporate Governance
Corporate Governance Practices and Policies
Corporate Social Responsibility and Sustainability
Along with our strong corporate governance program, the Company focuses on corporate social responsibility and sustainability initiatives that strengthen our value as a service provider, employer and citizen of the communities in which we operate.
Our Company Governance and Board Oversight
Corporate governance and responsibility are ingrained in our culture ─ and are the basis for our good decision-making, accountability, risk management and performance optimization. Our Board of Directors establishes policies and procedures to guide the Company’s oversight of our corporate governance, while management executes on these initiatives. In addition to the corporate governance practices described throughout the “Corporate Governance” section of this Proxy Statement, following are two highlights of our governance practices that management implemented in 2025 with support of our Board of Directors:
We acknowledge the potential impact that cybersecurity incidents, technology disruptions and phishing schemes could have on our business, employees and customers and are deeply committed to ensuring strong cybersecurity measures. Our technology and information security teams are focused on developing and implementing tools that help prevent cyber incidents, making our operations more resilient to them, and educating our employees on proactive mitigation practices on a continuous basis. Our Audit Committee assists our Board of Directors in overseeing cybersecurity risk, as discussed above under “Risk Oversight.”
Our Role as an Employer and Corporate Citizen
As a service provider, we recognize that our employees are among our greatest assets and the future of our business. To help enable our employees’ success in our virtual-first company, we are purposeful about creating opportunities to come together throughout the year and prioritize initiatives that drive connections, engagement and performance. Following are two highlights of our support for employees in 2025:
We further recognize that our network of independent service contractors is critical to providing services to our customers. We seek to drive attention to rewarding career opportunities in the skilled trades and grow the pipeline of talent by supporting and building partnerships with schools and other organizations.
Our Environment
We believe that changes in our environment, weather and adverse conditions can affect our business and communities, and that efficiency in the use of natural resources is important. Following are two highlights of our actions related to the environment in 2025:
We intend to provide further information on our initiatives in our 2025 Sustainability Report, currently scheduled for publication in the summer of 2026. For more information, and to view our 2024 Sustainability Report, please visit the sustainability section of our corporate website at https://www.frontdoorhome/About/Sustainability.com. The information contained on or accessible through our corporate website, including the Company’s current or prior year Sustainability Reports, is not considered part of this Proxy Statement.
Frontdoor, Inc. 2026 Proxy Statement 25
Corporate Governance
Corporate Governance Practices and Policies
Board Self-Assessments
Our Board of Directors conducts annual self-assessments to determine whether it and its committees are functioning effectively and whether its governing documents remain appropriate. Our Board’s self-assessment is facilitated by a confidential survey with a wide range of questions related to topics including operations, composition of the Board, responsibilities, governing documents and resources. Results of each survey are aggregated for review and discussion by the Board. As part of the Board self-assessment process, our Chairman of the Board or Lead Director also conducts an individual interview with each Director. The process is designed and overseen by the Nominating and Corporate Governance Committee, which is chaired by our independent Lead Director, and the results of the self-assessments are discussed within each committee and by the full Board. Additionally, each committee annually reviews its own performance and assesses the adequacy of its charter and reports the results and any recommendations to the Board of Directors.
Procedures for Treatment of Complaints Regarding Accounting Controls and Auditing Matters
In accordance with the Sarbanes-Oxley Act of 2002, our Board of Directors has adopted procedures for the receipt, retention and treatment of complaints regarding accounting controls or auditing matters and to allow for the confidential, anonymous submission by employees and others of concerns regarding questionable accounting or auditing matters. These procedures for the receipt, retention and treatment of complaints are also available for use by employees who would like to raise other concerns, such as concerns related to harassment, conflicts of interest or other matters discussed in our Code of Conduct.
Certain Securities Transactions
Short Selling
Our Board of Directors has adopted a policy that prohibits our directors, officers and employees from short sales and transactions in puts and calls of our equity securities. Short sales of our securities evidence an expectation on the part of the seller that such securities will decline in value and signal to the market an absence of confidence in our short-term prospects. Short sales may also reduce the seller’s incentive to improve our performance.
Pledges and Hedges
In addition, our Board of Directors has adopted a policy that prohibits any of our directors, officers and employees from pledging our equity securities, trading on margin or engaging in hedging transactions in our equity securities. Certain forms of hedging or monetization transactions (such as zero-cost collars, equity swaps, exchange funds and forward sale contracts) allow a person to lock in much of the value of his or her stock holdings, often in exchange for all or part of the potential appreciation in the stock. These transactions allow the person to continue to own the stock, but without the full risks and rewards of ownership. When that occurs, the person may no longer have the same objectives as our other stockholders.
Insider Trading Policy and Procedures
We have adopted
26 Frontdoor, Inc. 2026 Proxy Statement
PROPOSAL 2
Ratification of the Selection of Independent
Registered Public Accounting Firm
The Audit Committee has selected Deloitte & Touche LLP (“Deloitte”) to serve as the Company’s independent registered public accounting firm for fiscal 2026. The Audit Committee first retained Deloitte as our independent registered public accounting firm in October 2018, and Deloitte has continued to serve in that capacity through fiscal 2025.
The Audit Committee annually evaluates the independence and performance of our independent registered public accounting firm and determines whether to retain the current firm or consider other firms. In addition, in conjunction with the mandated rotation of our external auditor’s lead engagement partner, the Audit Committee and its chair are directly involved in the selection of the external auditor’s new lead engagement partner.
In selecting Deloitte as our independent registered public accounting firm for fiscal 2026, the Audit Committee considered carefully Deloitte’s performance as the Company’s independent registered public accounting firm in fiscal 2025, its independence with respect to the services to be performed, its technical expertise and knowledge of the Company’s industry and operations, the reasonableness of its fees, and its general reputation for adherence to professional auditing standards. The Audit Committee and the Board of Directors believe that the continued retention of Deloitte as our independent registered public accounting firm is in the best interests of the Company and our stockholders. Representatives of Deloitte are expected to attend the 2026 Annual Meeting, will have the opportunity to make a statement if they desire to do so and are expected to be available to respond to appropriate questions.
Ratification by the stockholders of the selection of the independent registered public accounting firm is not required, but the Board of Directors believes that it is desirable to submit this matter to the stockholders. If the selection of Deloitte is not ratified at the 2026 Annual Meeting, the Audit Committee will investigate the reason for the rejection and reconsider the selection. Even in the event our stockholders ratify the selection, the Audit Committee, in its discretion, may direct the selection of a different independent registered public accounting firm at any time during fiscal 2026 if the committee determines that such a change would be in the Company’s and its stockholders’ best interests.
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THE BOARD OF DIRECTORS RECOMMENDS THAT YOU VOTE “FOR” THE RATIFICATION OF THE SELECTION OF DELOITTE & TOUCHE LLP AS THE COMPANY’S INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR FISCAL 2026. |
Frontdoor, Inc. 2026 Proxy Statement 27
Proposal 2 Ratification of the Selection of Independent Registered Public Accounting Firm
Independent Auditor Fees and Services
Independent Auditor Fees and Services
The following table summarizes the fees that Deloitte billed to us for fiscal 2025 and fiscal 2024 for audit and other services. Audit fees also include an estimate of amounts not yet billed.
|
|
Fiscal 2025 |
|
|
Fiscal 2024 |
|
||
|
|
|
|
|
|
|
||
Audit Fees |
|
$ |
2,074,429 |
|
|
$ |
1,967,451 |
|
Audit-Related Fees |
|
$ |
657,899 |
|
|
$ |
200,865 |
|
Tax Fees |
|
$ |
0 |
|
|
$ |
0 |
|
All Other Fees |
|
$ |
0 |
|
|
$ |
0 |
|
TOTAL FEES |
|
$ |
2,732,328 |
|
|
$ |
2,168,316 |
|
Audit Fees
Audit fees for fiscal 2025 and fiscal 2024 include fees paid for professional services rendered by Deloitte in connection with the audit and quarterly review of the Company, the audit of the effectiveness of internal controls over financial reporting and other services associated with regulatory filings.
Audit-Related Fees
Audit-related fees for fiscal 2025 and fiscal 2024 represent fees paid for professional services rendered by Deloitte in connection with support related to certifications performed for statutory requirements.
Tax Fees
Deloitte did not render any tax compliance, tax advice or tax planning services to us in fiscal 2025 or fiscal 2024.
All Other Fees
There were no such fees paid for fiscal 2024 or fiscal 2025.
Pre-Approval Policy
The Audit Committee’s Policy Regarding Pre-Approval of Services of the Independent Auditor of Frontdoor, Inc. (the “Pre-Approval Policy”) provides for pre-approval of audit, audit-related, tax and other services specifically described in the Pre-Approval Policy. Requests for services that require specific approval by the Audit Committee must be submitted to the Audit Committee by both our independent auditor (or independent registered public accounting firm) and our CFO or other appropriately designated officer, and must include a joint statement stating that the performance of such services will not impair the independence of the independent auditor and whether, in their view, the request is consistent with the SEC’s rules on auditor independence. The Pre-Approval Policy authorizes the Audit Committee to delegate to one or more of its members pre-approval authority with respect to permitted services, provided that such authority shall not include the approval of services for which the associated fees exceed $150,000. Pursuant to this delegation, the committee member to whom such authority is delegated must report any pre-approval decision to the Audit Committee at its next scheduled meeting. The Audit Committee has delegated specific pre-approval authority to its chair, subject to and in accordance with the terms of the Pre-Approval Policy.
All of the services described above were pre-approved by the Audit Committee in accordance with the Pre-Approval Policy.
28 Frontdoor, Inc. 2026 Proxy Statement
Audit Committee Report
The following is the report of the Audit Committee of the Board of Directors with respect to the Company’s audited financial statements for fiscal 2025. For a discussion of the full range of the Audit Committee’s activities during fiscal year 2025, see “Corporate Governance—Committees of the Board of Directors—Audit Committee.”
The Audit Committee is governed by the Audit Committee Charter adopted by the Company’s Board of Directors. Our Board has determined that each current member of the Audit Committee, namely Christopher L. Clipper, Peter L. Cella and Liane J. Pelletier, (i) is an “independent” director based on Nasdaq Rule 5605 and our Corporate Governance Guidelines, (ii) satisfies the SEC’s additional independence requirement for members of audit committees, and (iii) is “financially literate” as defined by SEC rules. Our Board has additionally determined that Mr. Clipper, Mr. Cella and Ms. Pelletier are “audit committee financial experts” as defined by SEC rules.
The Audit Committee reviews the Company’s financial reporting process on behalf of the Board of Directors. The Audit Committee has met and reviewed and discussed the Company’s audited financial statements with management, which has primary responsibility for the financial statements and the reporting process, including the system of internal controls. In this context, the Audit Committee has held discussions with management and Deloitte, the Company’s independent registered public accounting firm for fiscal 2025, regarding the fair and complete presentation of the Company’s financial position and results of operations in accordance with U.S. GAAP and regulations of the SEC. The Audit Committee has discussed significant accounting policies applied by the Company in its financial statements, as well as alternative treatments. Management has represented to the Audit Committee that the Company’s consolidated financial statements have been prepared in accordance with U.S. GAAP. Deloitte is responsible for expressing opinions on the conformity of the Company’s financial statements with U.S. GAAP and the effectiveness of the Company’s internal control over financial reporting. The Audit Committee also has held discussions with management and Deloitte regarding the effectiveness of the Company’s internal control over financial reporting in accordance with the requirements of Section 404 of the Sarbanes-Oxley Act of 2002.
In addition, the Audit Committee has:
Based upon the review and discussions referred to above, the Audit Committee recommended to the Company’s Board of Directors that the Company’s audited financial statements be included in the Company’s Annual Report on Form 10-K for fiscal 2025.
The Audit Committee has selected Deloitte as the Company’s independent registered public accounting firm for fiscal 2026, and the Board of Directors has approved submitting such selection to the stockholders for ratification.
This report is being provided by the following independent directors who constituted the Audit Committee as of February 19, 2026, the date of the approval of this report by the Audit Committee.
Respectfully submitted,
Audit Committee
Christopher L. Clipper, Chair
Peter L. Cella
Liane J. Pelletier
Frontdoor, Inc. 2026 Proxy Statement 29
PROPOSAL 3
Advisory Vote to Approve
Named Executive Officer Compensation
As required by Section 14A of the Exchange Act, the Company is seeking advisory stockholder approval of the compensation of its NEOs as disclosed in this Proxy Statement pursuant to the SEC’s compensation disclosure rules. Stockholders are being asked to vote on the following advisory resolution:
“RESOLVED, that the compensation paid to the Company’s named executive officers as disclosed in this Proxy Statement pursuant to the rules of the SEC, including the Compensation Discussion and Analysis, compensation tables, and any related narrative discussion, is hereby APPROVED.”
As described more fully in the “Compensation Discussion and Analysis” section of this Proxy Statement, the 2025 executive compensation program of the Company was designed to achieve the following key objectives:
The Compensation Committee and the Board of Directors believe that the design of the 2025 executive compensation program, and hence the compensation awarded to NEOs under the program, fulfilled these objectives. In particular, a significant portion of the compensation of the NEOs consisted of long-term equity incentive compensation that aligns their compensation with the interests of stockholders over the long term.
At the Company’s 2024 Annual Meeting of Stockholders, stockholders voted in favor of holding an annual vote to approve the compensation of the Company’s NEOs. In light of this vote, the Board determined that it would include an advisory vote to approve the compensation of the Company’s NEOs every year. Accordingly, the next vote to approve the compensation of our NEOs is expected to be held at the Company’s 2027 Annual Meeting of Stockholders.
Stockholders are urged to read the “Compensation Discussion and Analysis” section of this Proxy Statement, which discusses in detail how the Company’s compensation approach implements the Company’s compensation objectives.
While the results of the vote are non-binding and advisory in nature, the Compensation Committee and the Board of Directors intend to review and consider the results of the vote.
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THE BOARD OF DIRECTORS RECOMMENDS THAT YOU VOTE “FOR” THE ADVISORY APPROVAL OF THE COMPENSATION OF OUR NAMED EXECUTIVE OFFICERS. |
30 Frontdoor, Inc. 2026 Proxy Statement
Executive Officers of the Company
Below is a list of our executive officers and their biographies (as of March 30, 2026).
WILLIAM C. COBB |
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Age: 69
Chief Executive |
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Mr. Cobb has served as the Chief Executive Officer of the Company since June 2022 and was appointed to the Board of Directors of the Company in October 2018, and serves as Chairman of the Board of Directors. Mr. Cobb served on the board of directors of Terminix from April 2018 until the Spin-off. From May 2011 through July 2017, Mr. Cobb served as President and Chief Executive Officer, and from August 2010 to July 2017 Mr. Cobb served as a director, of H&R Block, Inc., a provider of income tax return preparation and related services and products. From November 2000 to March 2008, Mr. Cobb served in various leadership roles at eBay, Inc., a global commerce and payments provider, including as President of eBay Marketplaces North America for four years and other senior management positions, including Senior Vice President and General Manager of eBay International and Senior Vice President of Global Marketing. Prior to joining eBay, Inc., Mr. Cobb held various marketing and executive positions at PepsiCo (and Tricon Global Restaurants when it was spun off in 1997) from 1987 to 2000. These positions included Senior Vice President and Chief Marketing Officer for Tricon International, Senior Vice President and Chief Marketing Officer at Pizza Hut, and Vice President, Colas at Pepsi Cola. Mr. Cobb previously served on the board of directors and as a member of the audit and finance committee and the nominating and governance committee of Deluxe Corporation, a technology-enabled solution company supporting financial institutions and small businesses. Mr. Cobb holds a Bachelor’s degree in Economics from the University of Pennsylvania and an M.B.A. from the Kellogg School of Management at Northwestern University. |
JASON L. BAILEY |
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Age: 52
Senior Vice |
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Mr. Bailey has served as the Senior Vice President and Chief Financial Officer of the Company since November 10, 2025. Previously, Mr. Bailey was the Company’s Vice President, Finance, from September 2018 to November 2025. In this role, he provided key strategic financial leadership and collaborated with the executive management team to drive the Company’s financial and operational success, oversaw the Company’s strategic sourcing and supply chain to capture operational efficiencies and cost savings, and managed the Company’s corporate financial forecasting efforts. From December 2008 to September 2018, Mr. Bailey served in senior finance roles at Terminix, the Company’s former publicly traded parent and a leading provider of essential residential and commercial services, including most recently as Vice President, Finance, and Chief Financial Officer of the Terminix Commercial Business Unit. Mr. Bailey’s professional experience includes more than 25 years in progressive leadership roles in finance and accounting, including 11 years of public accounting experience at Deloitte & Touche LLP and Arthur Andersen LLP. Mr. Bailey maintains an active CPA license from the State of Tennessee and holds Bachelor of Accountancy and Master of Taxation degrees from the University of Mississippi. |
KATHRYN M. COLLINS |
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Age: 62
Senior Vice
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Ms. Collins has served as the Senior Vice President and Chief Revenue Officer since January 2024, having joined the Company in June 2022 as Senior Vice President and Chief Marketing Officer and served from June 2023 to December 2023 as the Chief Brand Officer. From March 2021 to June 2022, Ms. Collins served as Chief Sales and Marketing Officer for Government Employees Health Association, a not-for-profit association providing medical benefit plans to federal employees, retirees and their families. From July 2018 to July 2020, Ms. Collins was Chief Brand and Innovation Officer, and from July 2018 to December 2019, Chief Marketing Officer for Massage Envy, a nationwide wellness franchise company providing massage, stretch and skin care services. From January 2006 to January 2018, Ms. Collins served in various leadership roles of increasing responsibility, including as Chief Marketing and Strategy Officer and Vice President of Marketing for H&R Block, Inc., a provider of income tax return preparation and related services and products. From January 1992 to December 2005, Ms. Collins held several leadership positions with Lee Jeans, a lifestyle apparel company. Ms. Collins is a member of the board of directors and is chair of the nominating and corporate governance committee of Wellabe, Inc., a mutual insurance holding company. Ms. Collins holds a Bachelor’s degree in Business and Marketing from Kansas State University and an M.B.A. from Arizona State University. |
Frontdoor, Inc. 2026 Proxy Statement 31
Executive Officers of the Company
JEFFREY A. FIARMAN |
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Age: 57
Senior Vice President and |
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Mr. Fiarman has served as the Senior Vice President and Chief Legal Officer since October 30, 2025 and as the Senior Vice President, Chief Legal Officer and Secretary from January 2024 to October 2025, having joined the Company as the Senior Vice President, General Counsel and Secretary in August 2018. Prior to joining the Company, Mr. Fiarman served from July 2017 to August 2018 as General Counsel for Wedgewood Pharmacy, the leading provider in the United States of customized medications devoted exclusively to animal health. Prior to joining Wedgewood Pharmacy, from September 2014 to July 2017, Mr. Fiarman advised startup companies and new business ventures, and co-founded an entrepreneurial venture focused on consumer wearable technology. From May 2013 until September 2014, Mr. Fiarman served as Executive Vice President, General Counsel and Secretary of IDEXX Laboratories, Inc., a global leader in pet healthcare innovation. While at IDEXX, he oversaw the company’s global legal, compliance, business development, regulatory and quality assurance functions. Prior to IDEXX, from June 2000 until April 2013, Mr. Fiarman served in various leadership roles with WW International, Inc. (formerly, Weight Watchers International, Inc.), a leading provider of weight management services, including seven years as Executive Vice President, General Counsel and Secretary, during which he provided oversight for a broad range of legal, regulatory, intellectual property and risk management functions. While at WW, Mr. Fiarman also served as the first General Counsel and a member of the founding leadership team for WW’s internet business, the global cloud-based leader in consumer weight management services and products. Mr. Fiarman began his career as an attorney with Gibson, Dunn & Crutcher in Washington, D.C., specializing in corporate and tax law. Mr. Fiarman holds a Bachelor’s degree in Economics from The Wharton School of the University of Pennsylvania and a Juris Doctorate from Columbia University School of Law. |
BALAKRISHNAN A. GANESH |
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Age: 54
Senior Vice President and |
|
Dr. Ganesh has served as the Senior Vice President and Chief Technology Officer since July 14, 2025. Dr. Ganesh previously served on the Board of Directors of the Company from July 2023 to July 11, 2025. Previously, Dr. Ganesh served as the Chief Technology Officer of OnTrac Logistics, a subsidiary of OnTrac Final Mile (together “OnTrac”), a privately held logistics company providing last mile e-commerce delivery services until July 2025. Prior to OnTrac, from August 2022 to August 2023, Dr. Ganesh has served as a Partner at AKF Consulting, LLC, which provides technology consulting, technical due diligence, and interim technology leadership services. From December 2020 to August 2022, Dr. Ganesh served as Vice President of Engineering at United Parcel Service (“UPS”), a shipping & receiving and supply chain management company, and led global teams at spanning advanced technologies, logistics operational technology and technology support groups responsible for maintaining infrastructure. Prior to that, from August 2018 to December 2020, Dr. Ganesh served as Vice President, Advanced Technology Group. From June 2016 to August 2018, Dr. Ganesh served as Vice President, Advanced Analytics and Revenue Management. From February 2014 to June 2016, Dr. Ganesh served as Vice President, Global E-commerce Strategy, and from January 2012 to February 2014, Dr. Ganesh served as Product Director of UPS My Choice, E-commerce B2C solution and retail segment. Dr. Ganesh holds a PhD degree in Aerospace Engineering with a minor in Mathematics and an M.B.A. and a M.S. in Aerospace Engineering from the Georgia Institute of Technology. He obtained his Bachelor’s degree from Indian National Defence Academy. |
EVAN A. IVERSON |
||
Age: 49
Senior Vice
|
|
Mr. Iverson has served as the Senior Vice President and Chief Operating Officer since August 2024, having joined the Company in January 2019 as Vice President Operations, and served from August 2023 to December 2023, as Senior Vice President of Contractor Engagement and Chief Operations Officer from January 2024 to July 2024. From December 2015 to December 2018, Mr. Iverson served as Senior Product Manager in Global Fulfillment Services for Amazon.com, Inc., a multinational technology company focusing on e-commerce, cloud computing, online advertising, digital streaming, and artificial intelligence. From September 2009 to December 2015, Mr. Iverson served as Associate Principal of McKinsey & Company, a global management consulting firm committed to helping organizations accelerate sustainable and inclusive growth. From 2001 to 2007, Mr. Iverson began his career as a salesperson at Trane, a manufacturer of commercial and residential heating, ventilation, and air conditioning systems, along with building management systems and controls. Mr. Iverson holds a Bachelor’s in Science degree in Chemical Engineering from Iowa State University, an M.B.A. from the University of Virginia Darden School of Business, and a Juris Doctorate from the University of San Diego, School of Law. |
32 Frontdoor, Inc. 2026 Proxy Statement
Compensation Committee Report
The Compensation Committee has reviewed and discussed with management the “Compensation Discussion and Analysis” set forth in this Proxy Statement. Based on this review and discussion, the Compensation Committee recommended to the Board of Directors, and the Board has approved, the inclusion of the “Compensation Discussion and Analysis” in this Proxy Statement.
Respectfully submitted,
Compensation Committee
Anna C. Catalano, Chair
Peter L. Cella
Liane J. Pelletier
Frontdoor, Inc. 2026 Proxy Statement 33
Compensation Discussion and Analysis
The Compensation Committee has the flexibility to establish appropriate compensation policies to attract and retain executives who are best positioned to execute on our business strategy.
Our NEOs for 2025 were:
Table of Contents |
Page |
|
• |
Objectives of Our Executive Compensation Program |
35 |
• |
Elements of Executive Compensation, Including for NEOs |
36 |
• |
Determination of Executive Compensation |
37 |
• |
Components of 2025 Compensation |
39 |
• |
Fiscal 2026 Executive Compensation |
45 |
• |
Additional Information about Our Compensation Practices |
45 |
• |
Clawback Policies |
46 |
• |
Stock Ownership Guidelines |
47 |
• |
Prohibitions on Short Sales, Hedges and Pledges |
47 |
Executive Summary
Key Compensation Actions for Fiscal 2025
Our Compensation Committee took the following actions with respect to our fiscal 2025 executive compensation program:
34 Frontdoor, Inc. 2026 Proxy Statement
Compensation Discussion and Analysis
Objectives of Our Executive Compensation Program
What We Do and Don’t Do Within Our Executive Compensation Program
In designing our executive compensation program, our Compensation Committee has incorporated certain practices into the program and omitted certain other practices, as follows.
What We Do |
|
What We Don’t Do |
||
|
Pay for Performance |
|
|
No Excessive Risk-Taking in Our Compensation Programs |
|
Competitive Compensation/Peer Group Benchmarking |
|
|
No Hedging, Pledging or Short Sales |
|
Annual Compensation Risk Assessment |
|
|
No Excessive Perquisites |
|
Executive Clawback Policy with Misconduct Provisions |
|
|
No Backdating or Repricing of Stock Options |
|
Stock Ownership Guidelines and Holdings Requirements |
|
|
No Tax Gross-Ups, Except for Executive Relocation |
|
Double Trigger Vesting for Equity Awards |
|
|
|
|
Independent Compensation Consultant |
|
|
|
Fiscal 2025 Performance Overview
Our Company, led by our Named Executive Officers (“NEOs”), delivered another year of outstanding performance, marked by strong financial performance and successful execution against our strategic objectives:
Objectives of Our Executive Compensation Program
Our compensation plans for executives (including the NEOs) are designed to:
Frontdoor, Inc. 2026 Proxy Statement 35
Compensation Discussion and Analysis
Elements of Executive Compensation, Including for NEOs
We believe that our pay actions for 2025 and the programs we have established fully reflect these objectives.
Elements of Executive Compensation, Including for NEOs
We believe it is necessary for our executive compensation program to be attractive to compete in the national market for executive talent and that our program must support our growth strategy and business objectives. As a result of this focus, we rely on competitive pay practices, and individual and business performance in determining the compensation of our executives. In making these compensation determinations, we also consider historical individual compensation levels and historical Company payout levels for annual cash incentives. The executive compensation program and underlying philosophy are reviewed at least annually to determine what, if any, modifications should be considered.
Each of these elements, discussed in more detail further below, plays an integral role in our balancing of executive rewards over short- and long-term periods and our ability to attract and retain key executives. We believe the design of our executive compensation program creates alignment between performance achieved and compensation awarded and motivates achievement of both annual goals and sustainable long-term performance.
Policies and Practices Relating to Awards of Stock Options
Components of Executive Compensation Program
The following chart describes in detail the individual pay components of our executive compensation program, the role of each component and the key characteristics and considerations of each component.
Pay Component |
|
Role |
|
Key Characteristics and Considerations |
|
|
|||
Salary |
|
● Fixed portion of annual cash pay ● Attract and retain highly qualified executives ● Recognize individual performance |
|
● Value of role in competitive marketplace ● Value of role to the Company ● Skills, experience and future potential of executives ● Performance of the executive ● Difficulty of replacing the executive |
Annual Incentive Plan ● Cash-Based Payouts |
|
● Variable, at-risk portion of annual cash pay ● Motivate executives to achieve short-term Company performance goals that support our long-term strategy |
|
● Goals tied to key financial and strategic indicators of the Company’s success ● Balance between short- and long-term business drivers ● Remaining competitive with the markets in which the Company competes for talent |
Long-term Equity ● RSUs ● PSUs ● Stock Options ● Performance Stock Options (“PSOs”) |
|
● Motivate achievement of long-term performance goals ● Facilitate equity ownership to align interests of executives with stockholders ● Encourage retention of key talent |
|
● Realized value on specific Company performance metric(s) and/or stock performance ● Awards with vesting periods that stretch over multiple fiscal years to create balance between short- and long-term objectives ● Remaining competitive with the markets in which the Company competes for talent |
36 Frontdoor, Inc. 2026 Proxy Statement
Compensation Discussion and Analysis
Determination of Executive Compensation
Pay Component |
|
Role |
|
Key Characteristics and Considerations |
|
|
|||
Sign-on Awards ● Cash Awards ● RSUs ● Stock Options |
|
● Enable the successful recruitment of talented executives |
|
● Cash and/or equity awards applied on a case-by-case basis to certain executives as an inducement to join the Company and to remain competitive with the markets in which the Company competes for talent, and in the case of equity awards, alignment with stockholders ● Equity awards are time-vested |
Benefits, Perquisites and Severance Protection |
|
● Support the health and well-being of our executives and employees ● Provide the opportunity for our executives and employees to save on a tax-favored basis ● Attract and retain qualified executives by ensuring that our benefit programs are competitive |
|
● Health and welfare and retirement benefits for executives are the same as those for all employees ● Benefits, perquisites, and severance protection for executives based on competitive marketplace considerations ● Consistent with standards of good governance |
Determination of Executive Compensation
Role of the Compensation Committee and Management
The role of our Compensation Committee is to assist our Board of Directors in the discharge of its responsibilities relating to our executive compensation program. The Compensation Committee is responsible for establishing, administering and monitoring our policies governing the compensation for our executive officers, including determining salaries and short- and long-term incentive awards.
The Compensation Committee will determine the CEO’s compensation and report and discuss the approved compensation with our Board of Directors. Our CEO will recommend to the Compensation Committee compensation for our other executive officers based on his assessment of each executive officer’s area of responsibility, individual performance, overall contribution and prevailing marketplace conditions. Our CEO provides input to the Compensation Committee regarding compensation mix, incentive plan design, pay levels and inducement packages pertaining to the recruitment of new executives. These items are assessed by the Compensation Committee, with input from the Compensation Committee’s independent compensation consultant, and considered by the Compensation Committee as part of its evaluation of our executive compensation program design. Our CEO will continue to play an active role in evaluating our executive leadership team and determining their compensation in support of the Compensation Committee’s activities. However, the CEO does not play a role in determining his own compensation.
Role of the Independent Compensation Consultant
The Compensation Committee engaged Meridian as its independent compensation consultant for 2025. During the compensation planning process, the Compensation Committee expects its compensation consultant to provide analysis, recommendations, and advice that will inform the Compensation Committee’s decisions. Meridian’s services include, but are not limited to: (i) providing market pay comparisons pertaining to the Company’s executives; (ii) assisting in the design and implementation of executive incentive plans to ensure appropriate linkage to stockholder value creation; (iii) updating the Compensation Committee on governance trends relating to executive compensation; and (iv) reviewing various proposals presented by management to the Compensation Committee on executive compensation matters. Pursuant to SEC rules, the Compensation Committee has assessed the independence of Meridian and has concluded that Meridian, and the individual compensation advisers employed by Meridian, are independent and have no conflicts of interests that would prevent Meridian from independently providing services to the Compensation Committee.
Frontdoor, Inc. 2026 Proxy Statement 37
Compensation Discussion and Analysis
Determination of Executive Compensation
Peer Group
In July 2024, the Compensation Committee completed a review of our 2024 peer group for 2025 compensation. The Compensation Committee considered and approved the removal of the “core” and “emerging” bifurcation and a pivot to a more streamlined approach focusing on companies with business model similarities, while still prioritizing technology-focused or technology-enabled companies. The Compensation Committee determined that four companies be removed, and six companies be added, to the Company’s peer group for 2025 compensation, after considering the reasoning for the changes and background on each company, as well as companies that were considered but not recommended for inclusion in the 2025 peer group. Accordingly, our peer group for 2025 compensation was comprised of the companies in the following table, which have revenues generally ranging from 0.5 to 3.3 times the revenue of the Company.
2025 Peer Group |
|
ADT Inc. Alarm.com Holdings, Inc. Angi Inc. Brightview Holdings, Inc. CarGurus, Inc. Chemed Corporation First American Financial Corporation FirstService Corporation H&R Block, Inc. |
OPENLANE, Inc. Redfin Corporation RB Global, Inc. Rollins, Inc. Tripadvisor, Inc. Unifirst Corporation Yelp Inc. Zillow Group, Inc. |
The appropriateness of the companies comprising the peer group will be reassessed annually, and any changes to the composition of the group will be subject to approval by the Compensation Committee. In July 2025, the Compensation Committee completed a review of our 2025 peer group for 2026 compensation. The review focused on confirming the continued appropriateness of our peer group and determined that one company, Redfin Corporation, be removed as it was acquired by Rocket Companies.
Prior Year Say on Pay Vote
In 2025, the Compensation Committee considered the outcome of the stockholder advisory vote on 2024 executive compensation when making decisions relating to the compensation of our NEOs and our executive compensation program and policies. At the 2025 Annual Meeting, over 93% of the votes were cast in favor of the non-binding, advisory vote on the 2024 compensation paid to our NEOs. See “Corporate Governance—Corporate Governance Practices and Policies—Stockholder Engagement” for additional information about our stockholder engagement practices.
38 Frontdoor, Inc. 2026 Proxy Statement
Compensation Discussion and Analysis
Components of 2025 Compensation
Components of 2025 Compensation
A significant portion of the 2025 total direct compensation for our NEOs consisted of variable, at-risk compensation. The following charts illustrate the proportional components of 2025 compensation for our CEO and the average proportional components of 2025 compensation for our other NEOs, excluding our former Chief Financial Officer, as well as a percentage of overall, variable, at-risk compensation. For purposes of the charts below, variable, at-risk total direct compensation includes the 2025 AIP award at target, long-term equity incentive award dollar value at target and, with respect to Mr. Bailey and Dr. Ganesh, the transition award of PSUs granted in connection with Mr. Bailey’s transition to Chief Financial Officer during fiscal 2025 and the sign-on and hiring awards of RSUs and PSUs granted to Dr. Ganesh in connection with his hiring as our Chief Technology Officer during fiscal 2025. The charts do not include equity compensation granted to Dr. Ganesh in connection with his service as a member of our Board of Directors.
CEO |
|
Average Other NEOs |
|
|
|
* Sums may not add up due to rounding; Average Other NEOs excludes our former Chief Financial Officer.
(1) The options shown at 2% were granted to Mr. Bailey prior to his transition to Senior Vice President and Chief Financial Officer.
The Compensation Committee determined the salary and incentive compensation opportunities for fiscal 2025 for Messrs. Cobb, Fiarman and Iverson in February 2025, for Dr. Ganesh in May 2025 in connection with his appointment as our Chief Technology Officer effective July 14, 2025, and for Mr. Bailey in October 2025 in connection with his appointment as our Chief Financial Officer effective November 10, 2025. In each case, the Compensation Committee considered data regarding compensation for the Company’s peer group for 2025, third-party salary survey information, and the Company’s business strategy, as well as input from Meridian, stockholders, and with respect to executives other than himself, Mr. Cobb, as discussed above.
The Compensation Committee annually reviews the salaries of our executives, which includes our executive officers and other members of the senior leadership team. The Compensation Committee may take into account various factors when considering annual merit increases, including:
In February 2025, the Compensation Committee determined to increase the salaries for Mr. Cobb (from $825,000 to $860,000) and for Mr. Fiarman (from $560,000 to $575,000), effective April 1, 2025, to reflect competitive practice among the Company’s peer group, as well as Mr. Cobb’s and Mr. Fiarman’s proficiency, experience and contributions to the Company. The Compensation Committee determined that the salaries for Ms. Ross and for Mr. Iverson, who was newly appointed to his role as Senior Vice President and Chief Operating Officer at that time, would remain unchanged for fiscal 2025, as each was set within a competitive market range and reflected competitive practice among the Company’s peer group, as well as general industry practice and individual proficiency and experience. In May 2025, the Compensation Committee determined the salary for Dr. Ganesh prior to the commencement of his employment as our Chief Technology Officer on July 14, 2025, and in October 2025, the Compensation Committee determined the salary for Mr. Bailey prior to his transition to the role of Chief Financial Officer on November 10, 2025. In the case of each of Dr. Ganesh and Mr. Bailey, the respective salaries were set within a competitive market range and competitive practice among the Company’s peer group for their roles, as well as general industry practice and individual proficiency and experience.
Frontdoor, Inc. 2026 Proxy Statement 39
Compensation Discussion and Analysis
Components of 2025 Compensation
The following table sets forth information regarding the 2025 salaries for our NEOs in 2025.
Named Executive Officer |
|
Salary as of |
|
|
|
|
|
|
|
William C. Cobb |
|
$ |
860,000 |
|
Jason L. Bailey(1) |
|
$ |
475,000 |
|
Jessica P. Ross(2) |
|
$ |
625,000 |
|
Balakrishnan A. Ganesh |
|
$ |
600,000 |
|
Jeffrey A. Fiarman |
|
$ |
575,000 |
|
Evan A. Iverson |
|
$ |
550,000 |
|
Annual Cash Incentive Awards
2025 Annual Incentive Plan Design
In February 2025, the Compensation Committee approved the AIP for 2025, which was designed to reward the achievement of specific pre-set financial and strategic results measured over the 2025 fiscal year. The Compensation Committee determined that, consistent with prior fiscal years, the AIP bonus awards for 2025 would be calculated based on the NEO’s eligible earnings, or base salary paid to the NEO, during fiscal 2025.
In February 2025, the Compensation Committee determined to make no change to the AIP bonus targets for Mr. Cobb and Ms. Ross, as it was determined that their targets were in line with their peer benchmarks. The Compensation Committee increased the AIP bonus targets for Messrs. Fiarman (from 65% to 70%) and Iverson (from 70% to 75%) to bring their targets in line with their peer benchmarks. In May 2025, the Compensation Committee determined Dr. Ganesh’s AIP bonus target percentage (85%) prior to his joining the Company as our Chief Technology Officer, and in October 2025, the Compensation Committee determined Mr. Bailey’s AIP bonus target percentage (75%) in connection with his transition to Chief Financial Officer.
The target bonus approved by the Compensation Committee for each NEO for 2025 is listed in the table below.
Named Executive Officer |
|
AIP 2025 Annual Incentive |
|
|
|
William C. Cobb |
|
125% |
Jason L. Bailey(1) |
|
54% |
Jessica P. Ross |
|
90% |
Balakrishnan A. Ganesh |
|
85% |
Jeffrey A. Fiarman |
|
70% |
Evan A. Iverson |
|
75% |
40 Frontdoor, Inc. 2026 Proxy Statement
Compensation Discussion and Analysis
Components of 2025 Compensation
The Compensation Committee determined that incentives under the 2025 AIP would be based on our performance with respect to the following performance goals and weightings:
The Compensation Committee determined that each of the metrics was appropriate to motivate the NEOs to lead the Company and to deliver on annual growth in support of the Company’s long-term strategy.
For each performance measure, the Compensation Committee approved that the achievement factor will be determined by measuring actual performance against threshold, target and maximum goals based on a scale that provides for a payout of 25% for threshold performance, 100% for target performance and 200% for maximum performance. In establishing the goals, the committee considered actual performance measured for 2024, the Company’s operating plan for 2025 and short- and long-term business drivers for the Company. The following table sets forth the financial performance goals, including threshold, target and maximum performance levels, and the respective weightings of the financial performance goals under the 2025 AIP.
Financial Performance Goal |
|
Threshold |
|
Target |
|
Maximum |
|
Weighting |
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenue |
|
$1.969 billion |
|
$2.019 billion |
|
$2.069 billion |
|
|
35 |
% |
Adjusted EBITDA |
|
$422 million |
|
$464 million |
|
$506 million |
|
|
35 |
% |
2025 Annual Incentive Plan Determinations
In February 2026, the Compensation Committee assessed our performance against the 2025 AIP financial performance goals. For actual performance between the specified threshold, target and maximum levels, the resulting achievement factor was calculated on a linear interpolation basis. The weighted achievement factor for each performance goal was then determined by multiplying the weight attributed to each performance goal by the achievement factor for such goal based on the Company’s fiscal 2025 performance. The levels of achievement attained, achievement factors and the weighted achievement factors for the financial performance goals are listed in the table below.
Financial Performance Goal |
|
2025 |
|
2025 |
|
2025 |
|
2025 Weighted |
|
|
|
|
|
|
|
|
|
Revenue |
|
$2.093 billion |
|
104% |
|
200% |
|
70% |
Adjusted EBITDA(1) |
|
$553 million |
|
119% |
|
200% |
|
70% |
With respect to the satisfaction of the strategic objectives goal, which focused on successfully and profitably growing and keeping home warranty members, successfully expanding and scaling non-warranty revenue and successfully optimizing the 2-10 Home Buyers integration and drive growth synergies, the Compensation Committee determined that we achieved 2025 actual results as a percentage of target of 133%, resulting in a weighted achievement factor of 125% for this goal.
The Compensation Committee then determined that Company overall performance under the 2025 AIP was 177.5% in accordance with application of the weightings applicable to each of the financial and strategic performance goals.
2025 Annual Incentive Plan Payout
Actual amounts paid under the 2025 AIP bonus are calculated by multiplying each NEO’s 2025 eligible compensation by (i) the executive’s 2025 AIP bonus target annual cash incentive opportunity (which is reflected as a percentage of eligible earnings) and (ii) the executive’s weighted achievement factor.
Frontdoor, Inc. 2026 Proxy Statement 41
Compensation Discussion and Analysis
Components of 2025 Compensation
Accordingly, in February 2026, the Compensation Committee awarded Messrs. Cobb, Bailey, Fiarman and Iverson, Dr. Ganesh, and Ms. Ross 2025 AIP bonuses as set forth in the following table.
Named Executive Officer |
|
2025 AIP |
|
|
AIP Annual |
|
|
2025 AIP |
|
2025 AIP |
||
|
|
|
|
|
|
|
|
|
|
|
||
William C. Cobb |
$ |
|
851,250 |
|
|
|
125 |
|
% |
177.5% |
$ |
1,888,711 |
Jason L. Bailey (1) |
$ |
|
402,788 |
|
|
|
54 |
|
% |
163.7% |
$ |
357,988 |
Jessica P. Ross |
$ |
|
625,000 |
|
|
|
90 |
|
% |
177.5% |
$ |
998,438 |
Balakrishnan A. Ganesh(2) |
$ |
|
279,545 |
|
|
|
85 |
|
% |
177.5% |
$ |
421,764 |
Jeffrey A. Fiarman |
$ |
|
571,250 |
|
|
|
70 |
|
% |
177.5% |
$ |
709,778 |
Evan A. Iverson |
$ |
|
550,000 |
|
|
|
75 |
|
% |
177.5% |
$ |
732,188 |
Long-Term Equity Incentive Awards
2025 Annual Awards
To reinforce the Company’s performance and growth agenda, in February 2025, the Compensation Committee determined to grant PSUs for 50% of the long-term equity incentive awards and time-vested RSUs for the remaining 50% of the long-term equity incentive awards for Messrs. Cobb, Fiarman and Iverson, and Ms. Ross. The Compensation Committee believes that PSUs create strong alignment with stockholder interests since value is delivered only in the event that the performance metrics are met, which require significant increases in our revenue and Adjusted EBITDA. Meanwhile, time-vested RSUs balanced the performance orientation of PSUs with the objectives of real equity ownership and retention.
In February 2025, the Compensation Committee also approved the target dollar value of long-term equity incentive awards to be granted to each of our then-current NEOs as shown on the table below. In determining the target dollar value of these awards, the Compensation Committee considered data regarding compensation for the Company’s 2025 peer group and third-party survey data. The Compensation Committee also considered the Company’s business strategy and input from Meridian, stockholders, and with respect to executives other than himself, Mr. Cobb.
The table below summarizes the annual long-term equity incentive awards that were granted on March 31, 2025 to each of our NEOs who were then serving as an executive officer of the Company.
Named Executive Officer |
|
Total Annual |
|
|
Target |
|
|
Target |
|
|
RSU Dollar |
|
|
Number |
|
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
William C. Cobb |
|
$ |
6,400,000 |
|
|
$ |
3,200,000 |
|
|
|
84,144 |
|
|
$ |
3,200,000 |
|
|
|
84,144 |
|
Jessica M. Ross |
|
$ |
1,800,000 |
|
|
$ |
900,000 |
|
|
|
23,666 |
|
|
$ |
900,000 |
|
|
|
23,666 |
|
Jeffrey A. Fiarman |
|
$ |
1,600,000 |
|
|
$ |
800,000 |
|
|
|
21,036 |
|
|
$ |
800,000 |
|
|
|
21,036 |
|
Evan A. Iverson |
|
$ |
1,500,000 |
|
|
$ |
750,000 |
|
|
|
19,721 |
|
|
$ |
750,000 |
|
|
|
19,721 |
|
42 Frontdoor, Inc. 2026 Proxy Statement
Compensation Discussion and Analysis
Components of 2025 Compensation
The target PSU dollar values were converted into a target number of PSUs based on the closing price of the Company’s Common Stock on the Nasdaq on the trading day that immediately preceded the grant date, rounded to the nearest whole share. The terms and conditions of the PSUs provide that the PSUs will generally vest and be payable on the third anniversary of the grant date (i.e. on March 31, 2028) subject to the Company achieving certain specified aggregate revenue performance goals (50% of the PSU award) and specified aggregate Adjusted EBITDA performance goals (50% of the PSU award) measured over the three-year performance period commencing on January 1, 2025 and ending on December 31, 2027, subject to the executive’s continued service through the applicable vesting date. The total number of PSUs that vest will range from 0% to 200% of each target as determined by measuring accumulated aggregate performance at the end of the performance period against the pre-established threshold, target and maximum performance goal levels. To the extent the performance achieved is in between two performance goal levels, the earned percentage shall be determined based on linear interpolation.
The RSU dollar values were converted into a number of RSUs based on the closing price of the Company’s Common Stock on the Nasdaq on the trading day that immediately preceded the grant date, rounded to the nearest whole share, and will vest over three years in equal annual installments on the first three anniversaries of the grant date, subject to the executive’s continued service through the vesting date.
If the NEO’s employment terminates upon death or disability during the performance period, the PSUs will vest and be paid out at target. If the NEO’s employment terminates upon death or disability within 30 days of the end of the performance period, the greater of target or the actual performance measurement will be applied. If the NEO’s employment or service is terminated without cause or the NEO terminates his employment or service for good reason, a pro-rata portion of the PSUs will continue to vest until the third anniversary of the grant date based on actual Company performance. Upon a change in control during the performance period, unless an alternative award is provided, the PSUs will be considered earned at target, or if the change of control occurs within the last 12 months of the performance period, at the greater of target earned and projected earnings. The post-termination vesting for RSUs will be substantially the same as the rights that apply to RSUs previously granted to the NEOs. The terms and conditions of each of the PSU and RSU awards provide that Mr. Cobb shall not be deemed to have incurred a termination should he continue to serve as a director of the Company.
The table below summarizes the annual long-term incentive awards for Mr. Bailey that were granted on March 31, 2025, prior to his appointment as Chief Financial Officer, effective November 10, 2025.
Named Executive Officer |
|
Total Annual |
|
|
Non-Qualified Stock Option |
|
|
Number |
|
|
RSU Dollar |
|
|
Number |
|
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Jason L. Bailey |
|
$ |
400,000 |
|
|
$ |
200,000 |
|
|
|
11,976 |
|
|
$ |
200,000 |
|
|
|
5,259 |
|
The stock option value was converted into a number of shares based on the Black-Scholes value of the Company’s Common Stock on the Nasdaq on the trading day that immediately preceded the grant date, rounded to the nearest whole share. The stock options vest in equal annual installments on the first three anniversaries of the grant date, subject to Mr. Bailey’s continued service through the vesting dates, have an exercise price of $38.03 and will expire on the tenth anniversary of the grant date.
The RSU dollar value was converted into a number of RSUs based on the closing price of the Company’s Common Stock on the Nasdaq on the trading day that immediately preceded the grant date, rounded to the nearest whole share, and will vest in equal annual installments on the first three anniversaries of the grant date, subject to Mr. Bailey’s continued service through the vesting dates.
Post-termination vesting for stock options, PSUs and RSUs are described further below under the heading “Executive Compensation Tables—Potential Payments Upon Termination or Change in Control—Equity Awards.”
Frontdoor, Inc. 2026 Proxy Statement 43
Compensation Discussion and Analysis
Components of 2025 Compensation
2025 Sign-On, Hiring and Transition Awards
On July 14, 2025, Dr. Ganesh was awarded sign-on RSUs and hiring awards of RSUs and PSUs. The following reflects Dr. Ganesh’s sign-on award of RSUs:
Named Executive Officer |
|
Total Sign-On |
|
|
Number |
|
||
|
|
|
|
|
|
|
||
Balakrishnan A. Ganesh |
|
$ |
500,000 |
|
|
|
8,619 |
|
The RSU dollar value was converted into a number of RSUs based on the closing price of the Company’s Common Stock on the Nasdaq on the trading day that immediately preceded the grant date, rounded to the nearest whole share, and will vest in equal annual installments on the first two anniversaries of the grant date, subject to Dr. Ganesh’s continued service through the vesting dates.
The following reflects Dr. Ganesh’s hiring awards of PSUs and RSUs that were granted on July 14, 2025:
Named Executive Officer |
|
Total Hiring |
|
|
Target |
|
|
Target |
|
|
RSU Dollar |
|
|
Number |
|
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Balakrishnan A. Ganesh |
|
$ |
2,000,000 |
|
|
$ |
1,000,000 |
|
|
|
17,238 |
|
|
$ |
1,000,000 |
|
|
|
17,238 |
|
The target PSU dollar value was converted into a target number of PSUs based on the closing price of the Company’s Common Stock on the Nasdaq on the trading day that immediately preceded the grant date, rounded to the nearest whole share. The terms and conditions of the PSUs provide that the PSUs will generally vest and be payable on the third anniversary of the grant date (i.e., on July 14, 2028) subject to the same terms and conditions, including the performance metrics and goals, established for the PSU awards granted to other NEOs as part of the 2025 annual awards described above.
The RSU dollar value was converted into a number of RSUs based on the closing price of the Company’s Common Stock on the Nasdaq on the trading day that immediately preceded the grant date, rounded to the nearest whole share, and will vest in equal annual installments on the first three anniversaries of the grant date, subject to Dr. Ganesh’s continued service through the vesting dates.
The post-termination vesting rights for the RSUs and PSUs granted to Dr. Ganesh in connection with his hiring are substantially the same as the rights that apply to RSUs and PSUs previously granted to other NEOs as part of the 2025 annual awards described above. Post-termination vesting for PSUs and RSUs are described further below under the heading “Executive Compensation Tables—Potential Payments Upon Termination or Change in Control—Equity Awards.”
On November 10, 2025, Mr. Bailey a received transition award of PSUs for his promotion to Chief Financial Officer. The following reflects Mr. Bailey’s transition award:
Named Executive Officer |
|
Target PSU |
|
|
Target Number |
|
||
|
|
|
|
|
|
|
||
Jason L. Bailey |
|
$ |
600,000 |
|
|
|
11,900 |
|
The target PSU dollar value was converted into a target number of PSUs based on the closing price of the Company’s Common Stock on the Nasdaq on the trading day that immediately preceded the grant date, rounded to the nearest whole share. The terms and conditions of the PSUs provide that the PSUs will generally vest and be payable on the third anniversary of the grant date (i.e., on November 10, 2028) subject to the same terms and conditions, including the performance metrics and goals, established for the PSU awards granted to other NEOs as part of the 2025 annual awards described above.
44 Frontdoor, Inc. 2026 Proxy Statement
Compensation Discussion and Analysis
Fiscal 2026 Executive Compensation
The post-termination vesting rights for the PSUs granted to Mr. Bailey in connection with his transition to Chief Financial Officer are substantially the same as the rights that apply to PSUs previously granted to other NEOs as part of the 2025 annual awards described above. Post-termination vesting for PSUs are described further below under the heading “Executive Compensation Tables—Potential Payments Upon Termination or Change in Control—Equity Awards.”
Fiscal 2026 Executive Compensation
In February 2026, the Compensation Committee determined the salary and incentive compensation opportunities for our NEOs for 2026. The Compensation Committee considered data regarding compensation for the Company’s peer group for 2026 and third-party survey data. The Compensation Committee also considered the Company’s business strategy and prior feedback from stockholders related to the Company’s executive compensation program, as well as input from Meridian, and with respect to NEOs other than himself, Mr. Cobb.
The Compensation Committee approved increases of $25,000, $25,000, $15,000 and $10,000 to the salaries for Messrs. Cobb, Bailey, Fiarman and Iverson, respectively, effective in April 2026. The Compensation Committee also approved an increase to 75% (from 70%) for Mr. Fiarman’s annual incentive plan opportunity for fiscal 2026, as well as long-term equity incentive awards, consisting of 50% PSUs and 50% RSUs, having aggregate grant date fair values of $6,600,000, $1,500,000, $1,500,000, $1,600,000 and $1,500,000 for Mr. Cobb, Mr. Bailey, Dr. Ganesh, Mr. Fiarman and Mr. Iverson, respectively, to be granted in March 2026. The terms and conditions of the PSUs are tied to pre-set 3-year financial goals relating to revenue (relating to 50% of the total PSU award) and Adjusted EBITDA (relating to 50% of the total PSU award), with a minimum achievement level of 0% and a maximum achievement level of 200%.
Additional Information About Our Compensation Practices
Sign-On, Retention and Discretionary Bonuses
From time to time, we may award sign-on, retention and discretionary bonuses, in the form of cash, RSUs or stock options, to attract or retain executive talent. Generally, sign-on bonuses are used to incentivize candidates to leave their current employers or may be used to offset the loss of unvested compensation they may forfeit as a result of leaving their current employers.
Employment-Related Agreements
Other than Mr. Cobb, none of our NEOs have employment agreements relating to their employment with the Company. Mr. Cobb was hired to serve as our CEO pursuant to an employment agreement with us dated May 19, 2022 and commenced employment on June 1, 2022. From time to time, we may extend offer letters to our NEOs in connection with their recruitment or promotion. For 2025, Dr. Ganesh was offered the position of Senior Vice President and Chief Technology Officer pursuant to an offer letter dated May 21, 2025 and commenced employment on July 14, 2025. The material terms of Mr. Cobb’s employment agreement and Dr. Ganesh’s offer letter are described below under “Executive Compensation Tables—Grants of Plan-Based Awards for Fiscal 2025—Narrative Disclosure to Summary Compensation Table and Grants of Plan-Based Awards Table—Employment Agreement.”
Retirement Benefits
Our employees, including the NEOs, are generally eligible to participate in the Frontdoor, Inc. 401(k) Plan (the “Frontdoor 401(k) Plan”), as it may be amended from time to time. The Frontdoor 401(k) Plan is a tax qualified 401(k) defined contribution plan. We made a “safe harbor” matching contribution for our employees who contributed during the 2025 plan year.
Employee Benefits and Executive Perquisites
We offer a variety of health and welfare programs to all eligible employees, including the NEOs. The NEOs are eligible for the same health and welfare benefit programs on the same basis as the rest of our employees, including medical, dental and vision care coverage; life insurance coverage; short- and long-term disability; accidental death and dismemberment; and legal services. In addition, pursuant to our 2019 Employee Stock Purchase Plan (the “ESPP”), eligible employees, including the NEOs, may purchase Common Stock, subject to Internal Revenue Service limits, during specified offering periods at a purchase price equal to 85% of the closing price per share on the day preceding the last day of the applicable offering period.
Frontdoor, Inc. 2026 Proxy Statement 45
Compensation Discussion and Analysis
Clawback Policies
We limit the use of perquisites as a method of compensation and provide NEOs with only those perquisites that we believe are reasonable and consistent with our compensation goal of enabling us to attract and retain superior executives for key positions. We generally do not provide our NEOs with tax gross-up payments except in limited business-related circumstances, such as payments under our executive relocation policy.
Post-Termination Compensation
Our Compensation Committee has approved an executive severance policy (the “Severance Policy”) to provide severance benefits to certain eligible executives of the Company, including the NEOs, who experience a termination of employment under certain conditions. Notwithstanding the adoption of the Severance Policy, if at any time the NEO is subject to any existing agreement with the Company providing for severance benefits, the NEO shall be entitled to the better of the amounts payable under the Severance Policy or the amounts otherwise payable under the existing agreement. Messrs. Cobb, Bailey, Fiarman and Iverson and Dr. Ganesh, each have a severance arrangement with us, either as part of their employment agreement, in the case of Mr. Cobb, or offer letter, in the case of Mr. Fiarman or under the Severance Policy. The severance benefits to which Messrs. Cobb and Fiarman are entitled to, as well as those to which Ms. Ross was entitled to pursuant to her termination and transition agreement, are described in detail below under the heading “Executive Compensation Tables—Potential Payments Upon Termination or Change in Control—Severance Benefits—Employment Arrangements.” For a description of the potential vesting of outstanding equity awards that may occur in connection with certain termination events, see “Executive Compensation Tables—Potential Payments Upon Termination or Change in Control—Equity Awards” below.
Clawback Policies
Our Compensation Committee has adopted a mandatory clawback policy applicable to our NEOs, Section 16 officers and certain other executives, in accordance with Nasdaq listing standards implementing Exchange Act Rule 10D-1 (the “Executive Clawback Policy”). The Executive Clawback Policy requires the Company to claw back from current and former executives certain incentive compensation received by the executives on or after October 2, 2023, in the event that the Company is required to prepare an accounting restatement due to material non-compliance with any financial reporting requirement under federal securities laws, if the compensation received by the executives exceeded the amount that would have been received had the compensation been determined based on the restated financial statements. The policy applies to all “incentive compensation,” which includes any compensation received by covered executives that is granted, earned, or vested based wholly or in part upon the attainment of a financial reporting measure, as defined in the listing standards. Under the Executive Clawback Policy, the Company’s obligation to claw back such erroneously awarded compensation is mandatory, subject to limited exceptions, and must be applied to each covered executive, regardless of fault with respect to the restatement.
The Company also has a broad-based Clawback Policy that provides the Compensation Committee with the discretion to claw back certain performance-based compensation and associated stock transaction proceeds earned, vested or otherwise received (i) during the three years preceding the Company’s conclusion that the financial statements contained a material error or the date a court, regulator, or other legally authorized body directs the Company to restate its financial statements to correct a material error if the employee’s misconduct caused or materially contributed to the restatement; or (ii) during the 12 months prior to the Compensation Committee’s determination that even if a financial restatement has not occurred, the employee engaged in willful and serious misconduct that was injurious to us or our subsidiaries.
46 Frontdoor, Inc. 2026 Proxy Statement
Compensation Discussion and Analysis
Stock Ownership Guidelines
Stock Ownership Guidelines
Our Board of Directors has adopted stock ownership guidelines for NEOs, certain other executives of the Company and members of the Board, in order to further align the interests of our directors and such executives with our stockholders. Under these guidelines, such executives and non-employee directors are expected to own shares of our Common Stock, including the tax-effected dollar equivalent value of certain outstanding equity awards (calculated as 55% of the shares underlying RSU or PSU awards or the spread value of any outstanding option awards), in the amounts set forth below, calculated on December 31, 2025.
Role |
|
Multiple |
CEO |
|
6 times annual base salary |
Other NEO and Specified Executives |
|
3 times annual base salary |
Non-Employee Directors |
|
5 times annual cash retainer |
Shares that are counted toward meeting the guidelines include shares of our Common Stock owned by the directors and executives, and also include the tax-effected dollar equivalent value of unvested RSUs, the tax-effected dollar equivalent value of the spread for vested and unvested stock options, the tax-effected dollar equivalent value of the spread for PSOs (only to the extent the applicable performance metric(s) have been achieved), and the tax-effected dollar equivalent value of unvested PSUs (only to the extent the applicable performance metric(s) have been achieved), at the percentage of target that has been met. Use of tax-effected values for outstanding awards provides an approximation of the executive’s potential ownership and further demonstrates alignment with our stockholders.
Under these guidelines, unless otherwise approved by the Board of Directors, such executives and non-employee directors are required to retain 100% of any shares of our Common Stock they acquire until their ownership requirements are satisfied and, thereafter, must remain in compliance with such requirements upon completion of any disposition of shares of our Common Stock. The guidelines do not establish a time period by which ownership levels must be achieved.
Prohibitions on Short Sales, Hedges and Pledges
We prohibit short sales, hedging, trading on margin and pledging in our equity securities by our directors, officers and employees. See “Corporate Governance—Corporate Governance Practices and Policies—Certain Securities Transactions” for more information.
Frontdoor, Inc. 2026 Proxy Statement 47
Executive Compensation Tables
Summary Compensation Table
The table below summarizes the compensation paid to or earned by each of our NEOs for the years indicated.
Name and Principal Position |
|
Fiscal |
|
Salary(1) |
|
|
Bonus |
|
|
Stock |
|
|
|
Option |
|
|
|
Non-Equity |
|
|
All Other |
|
|
|
Total |
|
|||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
William C. Cobb |
|
2025 |
$ |
|
851,250 |
|
|
$ |
— |
|
|
$ |
6,399,993 |
|
(3) |
|
$ |
— |
|
|
$ |
|
1,888,711 |
|
$ |
12,250 |
|
(4) |
$ |
|
9,152,204 |
|
|
Chief Executive Officer and |
|
2024 |
$ |
|
825,000 |
|
|
$ |
— |
|
|
$ |
6,200,026 |
|
|
|
$ |
— |
|
|
$ |
|
1,392,188 |
|
$ |
|
12,075 |
|
|
$ |
|
8,429,289 |
|
Chairman of the Board |
|
2023 |
$ |
|
825,000 |
|
|
$ |
— |
|
|
$ |
2,750,005 |
|
|
|
$ |
2,750,002 |
|
|
$ |
|
1,554,300 |
|
$ |
|
11,550 |
|
|
$ |
|
7,890,857 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Jason L. Bailey |
|
2025 |
$ |
$ |
402,788 |
|
|
$ |
— |
|
|
$ |
799,998 |
|
(5) |
|
$ |
199,999 |
|
(6) |
$ |
|
357,988 |
|
$ |
12,250 |
|
|
$ |
|
1,773,023 |
|
|
Senior Vice President and |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Chief Financial Officer |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Jessica P. Ross |
|
2025 |
$ |
|
625,000 |
|
|
$ |
— |
|
|
$ |
1,800,036 |
|
(3) |
|
$ |
— |
|
|
$ |
|
998,438 |
|
$ |
12,250 |
|
(4) |
$ |
|
3,435,724 |
|
|
Former Senior Vice |
|
2024 |
$ |
|
618,750 |
|
|
$ |
— |
|
|
$ |
1,800,000 |
|
|
|
$ |
— |
|
|
$ |
|
751,781 |
|
$ |
|
4,225 |
|
|
$ |
|
3,174,756 |
|
President and Chief |
|
2023 |
$ |
|
600,000 |
|
|
$ |
— |
|
|
$ |
850,011 |
|
|
|
$ |
850,001 |
|
|
$ |
|
847,800 |
|
$ |
|
121,048 |
|
|
$ |
|
3,268,860 |
|
Financial Officer |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Balakrishnan A. Ganesh |
|
2025 |
$ |
279,545 |
|
|
$ |
|
|
|
$ |
2,679,955 |
|
(3) |
|
$ |
— |
|
|
$ |
|
421,764 |
|
$ |
|
52,875 |
|
(7) |
$ |
|
3,434,139 |
|
|
Senior Vice President and |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Chief Technology Officer |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Jeffrey A. Fiarman |
|
2025 |
$ |
571,250 |
|
|
$ |
— |
|
|
$ |
1,599,998 |
|
(3) |
|
$ |
— |
|
|
$ |
|
709,778 |
|
$ |
12,250 |
|
(4) |
$ |
|
2,893,276 |
|
||
Senior Vice President and |
|
2024 |
$ |
|
555,000 |
|
|
$ |
— |
|
|
$ |
1,499,988 |
|
|
|
$ |
— |
|
|
$ |
|
487,013 |
|
$ |
|
12,075 |
|
|
$ |
|
2,554,076 |
|
Chief Legal Officer |
|
2023 |
$ |
|
533,750 |
|
|
$ |
— |
|
|
$ |
750,011 |
|
|
|
$ |
749,997 |
|
|
$ |
|
502,793 |
|
$ |
|
11,550 |
|
|
$ |
|
2,548,101 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Evan A. Iverson |
|
2025 |
$ |
550,000 |
|
|
$ |
— |
|
|
$ |
1,499,979 |
|
(3) |
|
$ |
— |
|
|
$ |
|
732,188 |
|
$ |
12,250 |
|
(4) |
$ |
|
2,794,417 |
|
||
Senior Vice President and |
|
2024 |
$ |
|
506,250 |
|
|
$ |
— |
|
|
$ |
999,972 |
|
|
|
$ |
— |
|
|
$ |
|
459,703 |
|
$ |
|
12,075 |
|
|
$ |
|
1,978,000 |
|
Chief Operating Officer |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
48 Frontdoor, Inc. 2026 Proxy Statement
Executive Compensation Tables
Grants of Plan-Based Awards for Fiscal 2025
Grants of Plan-Based Awards for Fiscal 2025
The following table sets forth information regarding non-equity incentive plan awards and equity incentive plan awards (PSU, RSU and Option awards) during fiscal 2025 under the Company’s 2018 Plan.
|
|
|
|
Estimated Possible Payouts Under |
Estimated Possible Payouts Under |
|
All Other Stock |
|
|
|
|
|
||||||||||
Name |
Grant |
Compensation |
|
Threshold |
|
Target |
|
Maximum |
Threshold |
|
Target |
|
Maximum |
|
Number |
|
All Other |
|
|
Exercise |
|
Grant Date |
William C. |
3/31/2025 |
2/19/2025 |
|
|
|
|
|
|
21,036 |
(3) |
84,144 |
(3) |
168,288 |
(3) |
|
|
|
|
|
|
$ |
3,199,996 |
Cobb |
3/31/2025 |
2/19/2025 |
|
|
|
|
|
|
|
|
|
|
|
|
84,144 |
(4) |
|
|
|
|
$ |
3,199,996 |
|
|
|
$ |
79,805 |
$ |
1,064,063 |
$ |
2,128,125 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Jason L. |
3/31/2025 |
2/19/2025 |
|
|
|
|
|
|
|
|
|
|
|
|
5,259 |
(4) |
|
|
|
|
$ |
200,000 |
Bailey |
3/31/2025 |
2/19/2025 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
11,976 |
(5) |
$ |
38.03 |
$ |
199,999 |
|
11/10/2025 |
10/29/2025 |
|
|
|
|
|
|
5,950 |
(3) |
11,900 |
(3) |
23,800 |
(3) |
|
|
|
|
|
|
$ |
599,998 |
|
|
|
$ |
15,361 |
$ |
218,712 |
$ |
408,241 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Jessica |
3/31/2025 |
2/19/2025 |
|
|
|
|
|
|
5,917 |
(3) |
23,666 |
(3) |
47,332 |
(3) |
|
|
|
|
|
|
$ |
900,018 |
P. Ross |
3/31/2025 |
2/19/2025 |
|
|
|
|
|
|
|
|
|
|
|
|
23,666 |
(4) |
|
|
|
|
$ |
900,018 |
|
|
|
$ |
42,188 |
$ |
562,500 |
$ |
1,125,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balakrishnan |
7/14/2025 |
5/21/2025 |
|
|
|
|
|
|
4,310 |
(3) |
17,238 |
(3) |
34,476 |
(3) |
|
|
|
|
|
|
$ |
999,976 |
A. Ganesh |
7/14/2025 |
5/21/2025 |
|
|
|
|
|
|
|
|
|
|
|
|
8,619 |
(6) |
|
|
|
|
$ |
499,988 |
|
7/14/2025 |
5/21/2025 |
|
|
|
|
|
|
|
|
|
|
|
|
17,238 |
(7) |
|
|
|
|
$ |
999,976 |
|
5/14/2025 |
4/25/2025 |
|
|
|
|
|
|
|
|
|
|
|
|
3,317 |
(8) |
|
|
|
|
$ |
180,014 |
|
|
|
$ |
17,821 |
$ |
237,614 |
$ |
475,227 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Jeffrey A. |
3/31/2025 |
2/19/2025 |
|
|
|
|
|
|
5,259 |
(3) |
21,036 |
(3) |
42,072 |
(3) |
|
|
|
|
|
|
$ |
799,999 |
Fiarman |
3/31/2025 |
2/19/2025 |
|
|
|
|
|
|
|
|
|
|
|
|
21,036 |
(4) |
|
|
|
|
$ |
799,999 |
|
|
|
$ |
29,991 |
$ |
399,875 |
$ |
799,750 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Evan A. |
3/31/2025 |
2/19/2025 |
|
|
|
|
|
|
4,930 |
(3) |
19,721 |
(3) |
39,442 |
(3) |
|
|
|
|
|
|
$ |
749,990 |
Iverson |
3/31/2025 |
2/19/2025 |
|
|
|
|
|
|
|
|
|
|
|
|
19,721 |
(4) |
|
|
|
|
$ |
749,990 |
|
|
|
$ |
30,938 |
$ |
412,500 |
$ |
783,750 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Frontdoor, Inc. 2026 Proxy Statement 49
Executive Compensation Tables
Narrative Disclosure to Summary Compensation Table and Grants of Plan-Based Awards Table
Narrative Disclosure to Summary Compensation Table and Grants of Plan-Based Awards Table
Employment Agreements
Mr. Cobb was hired and appointed to serve as our CEO pursuant to an employment agreement with us dated May 19, 2022. Mr. Cobb’s agreement is initially for a term of four years subject to automatic one-year renewals thereafter, absent a termination notice by either party. Mr. Cobb will continue to serve on the Board of Directors during the term of his agreement with the Company, without additional compensation. Under his employment agreement, Mr. Cobb was entitled to receive certain sign-on RSU and 2022 annual equity grants, an initial salary of $825,000, which amount is subject to annual review by the Compensation Committee, and a target AIP bonus opportunity of not less than 120% of his base salary. See “Compensation Discussion and Analysis—Components of 2025 Compensation—Long Term Equity Incentive Compensation Awards” for a discussion of the annual equity awards granted to Mr. Cobb in fiscal 2025. Additionally, he is entitled to be considered for future equity grants commensurate with his position as CEO. Mr. Cobb is also eligible to receive healthcare, medical benefits and other benefits customarily provided to U.S. employees of the Company and was entitled to receive reimbursement for legal expenses incurred in negotiating his employment agreement. The employment agreement also contains certain restrictive covenants, including confidentiality, non-competition, non-solicitation and non-disparagement covenants. See “—Potential Payments Upon Termination or Change in Control—Severance Benefits—Employment Arrangements” below for a description of the payments and benefits Mr. Cobb is entitled to under his employment agreement and the Executive Severance Policy, as applicable, in connection with a termination of his employment.
Ms. Ross resigned from her role as Senior Vice President and Chief Financial Officer of the Company, effective November 10, 2025 (the “CFO Transition Date”). To facilitate a smooth transition of her responsibilities, Ms. Ross and the Company entered into a Separation and Transition Agreement, dated November 3, 2025 (the “Transition Agreement”). Pursuant to the terms of the Transition Agreement, Ms. Ross remained employed by the Company in a non-executive officer capacity as Senior Vice President and Advisor to the Company’s CEO for a transition period that commenced on November 10, 2025 and ended on December 31, 2025 (the “Departure Date”). Pursuant to the terms of the Transition Agreement, Ms. Ross continued to receive her then-current base salary through the Departure Date, her target bonus percentage under the AIP for 2025 remained unchanged after the CFO Transition Date, and Ms. Ross remained eligible to receive her 2025 AIP bonus in the ordinary course at the same time as such bonus is payable to Company employees based on 100% Company performance in accordance with the terms of the 2025 AIP. See “Compensation Discussion and Analysis—Components of 2025 Compensation—Long Term Equity Incentive Compensation Awards” for a discussion of the annual equity awards granted to Ms. Ross in 2025. Ms. Ross’s separation from service also qualified as a resignation by Ms. Ross for “Good Reason” under the 2018 Plan and underlying award agreements, and under the Severance Policy. See “—Potential Payments Upon Termination or Change in Control—Severance Benefits—Employment Arrangements” below for a description of the payments and benefits Ms. Ross received under the Transition Agreement and the Executive Severance Policy, as applicable, in connection with the termination of her employment on December 31, 2025.
Dr. Ganesh was hired and appointed to serve as our Senior Vice President and Chief Technology Officer pursuant to an offer letter with us dated May 21, 2025. Pursuant to the terms of his offer letter, Dr. Ganesh is entitled to receive: (i) an annual base salary of $600,000; (ii) a target AIP bonus opportunity equal to 85% of his base salary commencing in fiscal 2025; and (iii) equity-based awards under the 2018 Plan commencing in fiscal 2026, as determined by the Compensation Committee in its sole discretion. See “Compensation Discussion and Analysis—Long Term Equity Incentive Compensation Awards” for a discussion of the annual equity awards granted to Dr. Ganesh in 2025. In addition, as part of his compensation, Dr. Ganesh is also eligible to receive healthcare, medical benefits and other benefits customarily provided to U.S. employees of the Company. Dr. Ganesh additionally agreed to certain restrictive covenants, including confidentiality, non-competition and non-solicitation covenants. See “—Potential Payments Upon Termination or Change in Control—Severance Benefits—Employment Arrangements” below for a description of the payments and benefits Dr. Ganesh is entitled to under his offer letter and the Executive Severance Policy, as applicable, in connection with a termination of his employment.
50 Frontdoor, Inc. 2026 Proxy Statement
Executive Compensation Tables
Outstanding Equity Awards at Fiscal 2025 Year-End
Outstanding Equity Awards at Fiscal 2025 Year-End
The following table sets forth information regarding unexercised time-vesting stock options and PSOs, and any RSUs and PSUs that were not vested for each NEO as of the end of fiscal 2025. For information on vesting upon specified termination events or a change in control, see “—Potential Payments Upon Termination or Change in Control—Equity Awards.”
|
|
Option Awards |
|
Stock Awards |
|||||||||||||||||||||
Name |
Original |
|
Number of |
|
|
Number of |
|
|
Equity |
|
Option |
|
Option |
|
Number |
|
|
Market |
|
Equity |
|
|
Equity |
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
William C. |
3/31/2025 |
|
|
|
|
|
|
|
|
|
|
|
|
|
84,144 |
(3)* |
|
$ |
4,854,267 |
|
|
|
|
|
|
Cobb |
3/31/2025 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
84,144 |
(4)* |
|
$ |
4,854,267 |
|
3/25/2024 |
|
|
|
|
|
|
|
|
|
|
|
|
|
64,684 |
(3) |
|
$ |
3,731,620 |
|
|
|
|
|
|
|
3/25/2024 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
145,541 |
(5) |
|
$ |
8,396,260 |
|
3/27/2023 |
|
264,456 |
(6) |
|
|
|
|
|
|
$26.42 |
|
3/27/2033 |
|
|
|
|
|
|
|
|
|
|
|
|
|
3/27/2023 |
|
|
|
|
|
|
|
|
|
|
|
|
|
34,696 |
(3) |
|
$ |
2,001,612 |
|
|
|
|
|
|
|
6/1/2022 |
|
152,236 |
(7) |
|
|
|
|
|
|
$24.74 |
|
6/1/2032 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Jason L. |
11/10/2025 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
11,900 |
(4)* |
|
$ |
686,511 |
Bailey |
3/31/2025 |
|
|
|
|
|
|
|
|
|
|
|
|
|
5,259 |
(3)* |
|
$ |
303,392 |
|
|
|
|
|
|
|
3/31/2025 |
|
|
|
|
11,976 |
(8)* |
|
|
|
$38.03 |
|
3/31/2035 |
|
|
|
|
|
|
|
|
|
|
|
|
|
10/1/2024 |
|
|
|
|
|
|
|
|
|
|
|
|
|
3,126 |
(9) |
|
$ |
180,339 |
|
|
|
|
|
|
|
3/25/2024 |
|
|
|
|
|
|
|
|
|
|
|
|
|
3,651 |
(3) |
|
$ |
210,626 |
|
|
|
|
|
|
|
3/25/2024 |
|
5,169 |
(10) |
|
6,647 |
(10) |
|
|
|
$31.95 |
|
3/25/2034 |
|
|
|
|
|
|
|
|
|
|
|
|
|
3/27/2023 |
|
|
|
|
|
|
|
|
|
|
|
|
|
1,893 |
(3) |
|
$ |
109,207 |
|
|
|
|
|
|
|
3/27/2023 |
|
8,445 |
(10) |
|
3,840 |
(10) |
|
|
|
$26.42 |
|
3/27/2033 |
|
|
|
|
|
|
|
|
|
|
|
|
|
4/13/2022 |
|
180 |
(10) |
|
359 |
(10) |
|
|
|
$32.30 |
|
4/13/2032 |
|
|
|
|
|
|
|
|
|
|
|
|
|
3/28/2022 |
|
6,572 |
(10) |
|
439 |
(10) |
|
|
|
$28.82 |
|
3/28/2032 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Jessica P. |
3/31/2025 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6,476 |
(4)* |
|
$ |
373,600 |
Ross |
3/25/2024 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
26,999 |
(5) |
|
$ |
1,557,572 |
|
3/27/2023 |
|
40,872 |
(6) |
|
|
|
|
|
|
$26.42 |
|
3/27/2026 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balakrishnan |
7/14/2025 |
|
|
|
|
|
|
|
|
|
|
|
|
|
17,238 |
(3)* |
|
$ |
994,460 |
|
|
|
|
|
|
A. Ganesh |
7/14/2025 |
|
|
|
|
|
|
|
|
|
|
|
|
|
8,619 |
(9)* |
|
$ |
497,230 |
|
|
|
|
|
|
|
7/14/2025 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
17,238 |
(4)* |
|
$ |
994,460 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Jeffrey A. |
3/31/2025 |
|
|
|
|
|
|
|
|
|
|
|
|
|
21,036 |
(3)* |
|
$ |
1,213,567 |
|
|
|
|
|
|
Fiarman |
3/31/2025 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
21,036 |
(4)* |
|
$ |
1,213,567 |
|
3/25/2024 |
|
|
|
|
|
|
|
|
|
|
|
|
|
15,649 |
(3) |
|
$ |
902,791 |
|
|
|
|
|
|
|
3/25/2024 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
35,211 |
(5) |
|
$ |
2,031,323 |
|
3/27/2023 |
|
|
|
|
|
|
|
|
|
|
|
|
|
9,463 |
(3) |
|
$ |
545,920 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Evan A. |
3/31/2025 |
|
|
|
|
|
|
|
|
|
|
|
|
|
19,721 |
(3)* |
|
$ |
1,137,704 |
|
|
|
|
|
|
Iverson |
3/31/2025 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
19,721 |
(4)* |
|
$ |
1,137,704 |
|
3/25/2024 |
|
|
|
|
|
|
|
|
|
|
|
|
|
10,432 |
(3) |
|
$ |
601,822 |
|
|
|
|
|
|
|
3/25/2024 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
23,474 |
(5) |
|
$ |
1,354,215 |
|
3/27/2023 |
|
22,773 |
(6) |
|
|
|
|
|
|
$26.42 |
|
3/27/2033 |
|
|
|
|
|
|
|
|
|
|
|
|
|
3/27/2023 |
|
|
|
|
|
|
|
|
|
|
|
|
|
3,785 |
(3) |
|
$ |
218,357 |
|
|
|
|
|
|
|
3/28/2022 |
|
12,825 |
(10) |
|
855 |
(10) |
|
|
|
$28.82 |
|
3/28/2032 |
|
|
|
|
|
|
|
|
|
|
|
|
|
3/29/2021 |
|
4,449 |
(10) |
|
|
|
|
|
|
$54.81 |
|
3/29/2031 |
|
|
|
|
|
|
|
|
|
|
|
|
|
3/30/2020 |
|
8,116 |
(10) |
|
|
|
|
|
|
$35.56 |
|
3/30/2030 |
|
|
|
|
|
|
|
|
|
|
|
|
|
3/29/2019 |
|
6,048 |
(10) |
|
|
|
|
|
|
$34.48 |
|
3/29/2029 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* Shows grants made in fiscal 2025, which are also reported in the “Summary Compensation Table” and in the “Grants of Plan-Based Awards for Fiscal 2025 Table.”
Frontdoor, Inc. 2026 Proxy Statement 51
Executive Compensation Tables
Outstanding Equity Awards at Fiscal 2025 Year-End
Date of Grant |
|
Number of DSEs |
|
|
Market Value of Shares |
||
|
|
|
|
|
|
|
|
5/11/2022 |
|
|
9,470 |
|
|
$ |
546,324 |
5/12/2021 |
|
|
4,762 |
|
|
$ |
274,720 |
5/13/2020 |
|
|
5,219 |
|
|
$ |
301,084 |
4/29/2019 |
|
|
6,304 |
|
|
$ |
363,678 |
10/2/2018 |
|
|
1,344 |
|
|
$ |
77,535 |
10/1/2018 |
|
|
155 |
|
|
$ |
8,942 |
10/1/2018 |
|
|
3,518 |
|
|
$ |
202,953 |
52 Frontdoor, Inc. 2026 Proxy Statement
Executive Compensation Tables
Option Exercises and Stock Vested For Fiscal 2025
Option Exercises and Stock Vested For Fiscal 2025
The following table sets forth information regarding option exercises, awards of Common Stock, PSUs and RSUs that vested in fiscal 2025.
|
|
Option Awards |
|
|
Stock Awards |
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Name |
|
Number of |
|
|
Value Realized |
|
|
Number of |
|
|
Value Realized |
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
William C. Cobb |
|
|
— |
|
|
$ |
— |
|
|
|
99,129 |
|
|
$ |
4,341,597 |
|
Jason L. Bailey |
|
|
47,554 |
|
|
$ |
1,064,710 |
|
|
|
8,519 |
|
|
$ |
417,887 |
|
Jessica P. Ross |
|
|
40,869 |
|
|
$ |
1,176,985 |
|
|
|
20,114 |
|
|
$ |
772,543 |
|
Jeffrey A. Fiarman |
|
|
129,673 |
|
|
$ |
3,599,771 |
|
|
|
34,288 |
|
|
$ |
1,310,336 |
|
Balakrishnan A. Ganesh |
|
|
— |
|
|
$ |
— |
|
|
|
11,407 |
|
|
$ |
668,336 |
|
Evan A. Iverson |
|
|
6,077 |
|
|
$ |
164,005 |
|
|
|
14,077 |
|
|
$ |
587,106 |
|
Pension Benefits
The Company has no pension plans.
Frontdoor, Inc. 2026 Proxy Statement 53
Executive Compensation Tables
Nonqualified Deferred Compensation for Fiscal 2025
Nonqualified Deferred Compensation for Fiscal 2025
The following table sets forth information with respect to the deferred equity compensation paid to Mr. Cobb for his service as a non-employee director and also as Chairman of the Board of Directors, prior to being elected as the Company’s CEO effective June 1, 2022, and to Dr. Ganesh for his service as a non-employee director prior to his departure from the Board on June 30, 2025. Under our director compensation program, each non-employee director may elect to defer receipt of the shares of the Company’s Common Stock as DSEs to a point in the future, including the time at which the individual is no longer a member of the Board. Mr. Cobb and Dr. Ganesh each elected to defer receipt of the Company’s Common Stock until he no longer sits on the Board and have not made any contributions to these shares of Common Stock. Mr. Cobb has not taken distribution of these shares of Common Stock. Dr. Ganesh’s DSEs were distributed to him when he departed from the Board on June 30, 2025. The material terms of our director compensation program are discussed in the section entitled “Director Compensation—Compensation and Stock Paid to Directors.” None of our NEOs, other than Mr. Cobb and Dr. Ganesh. was eligible to participate in our director deferred compensation program. Mr. Cobb did not receive any deferred equity compensation in fiscal 2025.
Name |
|
Executive |
|
|
Registrant |
|
|
|
Aggregate Earnings in Last Fiscal Year ($)(2) |
|
|
Aggregate |
|
|
|
Aggregate Balance at Last FYE (4) |
|
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
William C. Cobb |
|
$ |
— |
|
|
$ |
— |
|
|
|
$ |
92,931 |
|
|
$ |
— |
|
|
|
$ |
1,775,237 |
|
Balakrishnan A. Ganesh |
|
$ |
180,014 |
|
|
$ |
— |
|
|
|
$ |
46,042 |
|
|
$ |
668,336 |
|
|
|
$ |
— |
|
Potential Payments Upon Termination or Change in Control
The following summaries and table describe and quantify the potential payments and benefits that we would provide to our NEOs in connection with their termination of employment and/or change in control of our Company. In determining amounts payable, we have assumed in all cases that the terms of the NEO’s current employment and equity award agreements with us were in effect on, and the termination of employment and/or change in control occurred on December 31, 2025.
Severance Benefits—Executive Severance Policy
In December 2022, the Compensation Committee approved the Severance Policy, which became effective as of January 1, 2023, to provide severance benefits to certain eligible executives of the Company, including the NEOs, who experience a termination of employment under certain conditions. Notwithstanding the adoption of the Severance Policy, if at any time the NEO is subject to any existing agreement with the Company providing for severance benefits, the NEO shall be entitled to the better of amounts payable under the Severance Policy or amounts otherwise payable under the existing agreement.
If the NEO’s employment is terminated by the Company without Cause (as defined in the Severance Policy) or on account of the NEO’s resignation from employment for Good Reason (as defined in the Severance Policy) (a “Qualifying Termination”), and such Qualifying Termination is not in connection with a change in control of the Company, the Company will provide the NEO with the following severance payments and benefits subject to the limitations described in the Severance Policy:
54 Frontdoor, Inc. 2026 Proxy Statement
Executive Compensation Tables
Potential Payments Upon Termination or Change in Control
The non-change in control annual base salary and target annual bonus cash severance payments will be made in substantially equal installments over the 12-month period following the NEO’s Qualifying Termination, in accordance with the Company’s regular payroll practices (unless the Company elects, in its sole discretion, to pay such amount in a lump sum within 30 days following the NEO’s Qualifying Termination).
If the NEO’s employment is terminated by the Company (i) in connection with a change in control of the Company, or (ii) within two years after the occurrence of a change in control of the Company, the Company will provide the NEO the following severance payments and benefits:
The change-in-control annual base salary and target annual bonus cash severance payments will be made in a lump sum within 30 days following the NEO’s Change of Control Qualifying Termination.
Payments to the NEOs are subject to the execution (and non-revocation) of a separation agreement containing a customary general release of claims in favor of the Company, its current and former subsidiaries and affiliates and its current and former employees, officers, directors and agents and, to the extent the NEO is not otherwise subject to the Company’s standard restrictive covenant agreement, restrictive covenants that are substantially the same as contained in such standard restrictive covenant agreement.
Severance Benefits—Employment Arrangements
Mr. Cobb
Pursuant to Mr. Cobb’s employment agreement, if Mr. Cobb’s employment is terminated, provided that service as a member of the Board of Directors concurrently terminates prior to the end of the four-year period beginning on June 1, 2022, without “cause” by the Company or by him for “good reason” (in each case, as defined in Mr. Cobb’s employment agreement), Mr. Cobb will be entitled to receive: (i) continuation of his salary for a period of 12 months; (ii) a lump sum payment equal to his target bonus; (iii) reimbursement of COBRA health insurance premiums paid by him for 12 months, following the date of termination; and (iv) the bonus that he would have been paid in respect of the fiscal year in which the date of termination occurs had his employment not terminated, prorated for the portion of the fiscal year during which he was employed, based on actual performance. Pursuant to the Severance Policy, Mr. Cobb is entitled to the better of benefits payable under the Severance Policy, or amounts otherwise payable under his existing employment agreement. Therefore, in the event of a termination without “cause” by the Company, or by Mr. Cobb for “good reason,” Mr. Cobb would receive the greater of a pro-rata portion his annual cash incentive based on actual Company performance, or his target bonus, for the fiscal year in which the date of termination occurred (if such termination date is after June 30 of a calendar year). See “—Severance Payments—Executive Severance Policy” for more information relating to the Severance Policy.
Frontdoor, Inc. 2026 Proxy Statement 55
Executive Compensation Tables
Potential Payments Upon Termination or Change in Control
In the event Mr. Cobb’s employment is terminated by reason of death or disability, Mr. Cobb (or his executors or legal representatives) will be entitled to receive the bonus that he would have been paid in respect of the fiscal year in which the date of termination occurs had his employment not terminated, prorated for the portion of the fiscal year during which he was employed, based on actual performance. On each anniversary after June 1, 2026, Mr. Cobb’s term of employment will be automatically extended by one year.
Payments of Mr. Cobb’s severance benefits are subject to him signing a general release of claims and continued compliance with certain restrictive covenants, including confidentiality of information and non-competition, non-solicitation and non-disparagement covenants. The confidentiality covenant has an indefinite term, and the non-competition, non-solicitation and non-disparagement covenants each have terms effective both during the term of his employment and for one year following any termination of employment. In addition, payments and benefits are reduced in connection with a change in control (within the meaning of Section 280G of the Internal Revenue Code (the “Code”)) to the highest amount that may be paid to Mr. Cobb without subjecting any payment to the excise tax, so long as he would retain a greater net after-tax payment if the payments are reduced.
Ms. Ross
Ms. Ross’s resignation from her position as Chief Financial Officer qualified as a resignation with “good reason” as defined in the Company’s Executive Severance Policy on November 10, 2025 and terminated her employment with the Company on December 31, 2025 (the “Departure Date”). Ms. Ross will not be eligible to receive an AIP bonus payment for fiscal 2026 and her equity award compensation will be treated in accordance with the applicable equity award agreements. Ms. Ross will receive the following after her departure on December 31, 2025:
Ms. Ross’s transition arrangement was conditioned upon the execution and non-revocation of (i) a transition agreement that included a general release of claims and other customary provisions (i.e. non-disparagement, etc.), and (ii) within seven days of her Departure Date, an additional bring-down release of claims.
Mr. Fiarman
Mr. Fiarman’s offer letter provides that if his employment is terminated by the Company without “cause” or by him for “good reason” (in each case, as defined in his offer letter), Mr. Fiarman will be entitled to receive: (i) an amount equal to 12 times his monthly salary in effect on the date of termination, paid in 12 equal monthly installments; (ii) an amount equal to his target bonus during the year of termination, paid in 12 equal monthly installments; and (iii) if the termination occurs after June 30 of any year, the bonus that he would have been paid in respect of the fiscal year in which the date of termination occurs had his employment not terminated, prorated for the portion of the fiscal year during which he was employed, based on actual performance. See “—Severance Benefits—Executive Severance Policy” for more information relating to the Severance Policy.
Equity Awards
Termination without “Cause” or by Executive for “Good Reason”
If an NEO’s employment is terminated by us without cause or if the NEO voluntarily terminates his or her employment (or in the case of Mr. Cobb, service with the Company) for any reason, all unvested time-based stock options, PSOs and RSUs, as applicable, immediately terminate. Upon such a termination, the NEO may exercise vested stock options and PSOs before the first to occur of (1) the three-month anniversary of the NEO’s termination of employment, (2) the expiration of the awards’ normal term, after which date such award are cancelled, or (3) the cancellation of the award in the event of a change in control in exchange for a cash payment. Unvested PSUs granted to an NEO in 2024 and 2025, as applicable, will be prorated and remain eligible to vest following termination of the NEO by us without “cause” or by the NEO for “good reason” (in each case as defined in the applicable award agreement) until the third anniversary of the date of grant (i.e. until March 25, 2027 and March 31, 2028, respectively, for Messrs. Cobb, Fiarman and Iverson; and until July 14, 2028 for Dr. Ganesh; and until November 10, 2028 for Mr. Bailey).
56 Frontdoor, Inc. 2026 Proxy Statement
Executive Compensation Tables
Potential Payments Upon Termination or Change in Control
Death or Disability
If an NEO’s employment terminates by reason of death or disability, all unvested time-based stock options will vest and remain exercisable until the first to occur of (1) the one-year anniversary of the NEO’s date of termination, (2) the expiration of the options’ normal term, after which date such options are cancelled, or (3) the cancellation of the options in the event of a change in control in exchange for a cash payment. All vested time- and performance-based stock options will remain exercisable until the first to occur of (1) the one-year anniversary of the NEO’s date of termination, (2) the expiration of the options’ normal term, after which date such options are cancelled, or (3) the cancellation of the options in the event of a change in control in exchange for a cash payment. With respect to unvested RSUs, the portion of unvested RSUs that would vest on the next vesting date following the termination will vest on a pro-rata basis. Unvested PSUs granted to an NEO in 2024 and 2025, as applicable, will immediately vest at target (i.e. 100%) following termination of the NEO’s employment by reason of death or disability, or if within 30 days of the certification date of the applicable performance achievement, will immediately vest based upon the actual achievement percentage or at target, whichever is higher.
Change in Control
Upon a change in control during the performance period, unless an “alternative award” is provided as determined by the Compensation Committee, PSUs granted in 2024 and 2025 will immediately vest at target (i.e. 100%) or, if the date of the change of control is within 12 months of the performance period end date, shares vesting will be the greater of (i) the target earning percentage for the performance period, and (ii) the projected/actual earning percentage for the performance period as of the date of the change of control. As of December 31, 2025, the 2022 and 2023 PSOs awarded to the applicable NEOS have satisfied the applicable service and performance conditions and are fully vested and exercisable.
Termination in Connection with a Change in Control
Pursuant to the 2018 Plan, upon a change in control, no cancellation, acceleration of vesting or other payment shall occur with respect to any unvested stock option, RSU or PSU if the Compensation Committee reasonably determines prior to the change in control that the NEO shall receive an “alternative award” meeting the requirements of the plan; provided, however, if within two years following a change in control, the NEO’s employment is terminated by us without “cause” or by the NEO for “good reason” (in each case as defined in the applicable award agreement), at a time when any portion of the alternative award is unvested, the unvested portion of such alternative award shall immediately vest in full and such NEO shall be provided with either cash or marketable stock equal to the fair market value of the stock subject to the alternative award on the date of termination.
Restrictive Covenants
As a condition of receiving their equity awards, each of Messrs. Cobb, Bailey, Fiarman and Iverson, Dr. Ganesh, and Ms. Ross agreed to certain restrictive covenants, including non-competition, confidentiality and non-solicitation covenants. The non-competition and non-solicitation covenants each have terms effective during the term of the NEO’s employment with the Company and for one year following any termination of employment; the term of the confidentiality covenant is generally so long as the information remains confidential. In addition, as a condition to receiving his sign-on and annual equity awards, Mr. Cobb agreed in his employment agreement to be subject to these same restrictive covenants, as well as a non-disparagement covenant that is effective during the term of his employment and for one year following any termination of employment.
Frontdoor, Inc. 2026 Proxy Statement 57
Executive Compensation Tables
Potential Payments Upon Termination or Change in Control
Estimated Payments and Benefits Upon Termination
The following table describes the potential benefits that would have been payable to our NEOs under existing contractual arrangements assuming a termination occurred on December 31, 2025. For Mr. Cobb, it is assumed that his termination from the Company occurred concurrently with his termination of service to our Board of Directors. The amounts shown in the table include payments and benefits provided for in the Severance Policy, unless at the time of any termination the NEO is subject to any existing agreement with the Company providing for severance benefits in connection with a termination as defined therein, such NEO is entitled to the better of amounts payable under the Severance Policy or amounts otherwise payable under such NEO’s existing agreement. Unless otherwise specified, amounts shown are pursuant to the Severance Policy. The amounts on the table do not include (1) payments and benefits to the extent they are provided generally to all salaried employees upon termination of employment and do not discriminate in scope, terms or operation in favor of the NEOs, or (2) payments for accrued and unused vacation, as our NEOs are no longer eligible for these payments. The amounts reported below related to the acceleration of outstanding equity awards assume a share price equal to $57.69, the closing market price of our Common Stock on the Nasdaq on December 31, 2025, the last trading day of fiscal 2025.
|
|
W. Cobb |
|
|
J. Bailey |
|
|
B. Ganesh |
|
|
J. Fiarman |
|
|
E. Iverson |
|
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Termination by the Company without Cause, or by Executive for Good Reason |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Severance Payments(1) |
|
$ |
1,935,000 |
|
|
$ |
831,250 |
|
|
$ |
1,110,000 |
|
|
$ |
977,500 |
|
|
$ |
962,500 |
|
Prorated Bonus Payment(2) |
|
$ |
1,888,711 |
|
|
$ |
356,250 |
|
|
$ |
510,000 |
|
|
$ |
709,778 |
|
|
$ |
412,500 |
|
COBRA Payment(3) |
|
$ |
23,043 |
|
|
$ |
21,857 |
|
|
$ |
33,881 |
|
|
$ |
34,552 |
|
|
$ |
34,552 |
|
Equity Award Acceleration(4)(5) |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
TOTAL |
|
$ |
3,846,755 |
|
|
$ |
1,209,357 |
|
|
$ |
1,653,881 |
|
|
$ |
1,721,831 |
|
|
$ |
1,409,552 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Death or Disability(6) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Severance Payments |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
Prorated Bonus Payment(7) |
|
$ |
1,888,711 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
COBRA Payment |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
Equity Award Acceleration(5)(8) |
|
$ |
14,637,281 |
|
|
$ |
1,559,637 |
|
|
$ |
1,264,631 |
|
|
$ |
3,637,342 |
|
|
$ |
2,749,487 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
TOTAL |
|
$ |
16,525,992 |
|
|
$ |
1,559,637 |
|
|
$ |
1,264,631 |
|
|
$ |
3,637,342 |
|
|
$ |
2,749,487 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Change in Control |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Severance Payments |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
Prorated Bonus Payment |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
COBRA Payment |
|
$ |
— |
|
|
|
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
Equity Award Acceleration(9) |
|
$ |
10,451,755 |
|
|
$ |
686,511 |
|
|
$ |
994,460 |
|
|
$ |
2,567,782 |
|
|
$ |
2,040,495 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
TOTAL |
|
$ |
10,451,755 |
|
|
$ |
686,511 |
|
|
$ |
994,460 |
|
|
$ |
2,567,782 |
|
|
$ |
2,040,495 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Termination in Connection with Change in Control |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Severance Payments(10) |
|
$ |
2,795,000 |
|
|
$ |
1,306,250 |
|
|
$ |
1,710,000 |
|
|
$ |
1,552,500 |
|
|
$ |
1,512,500 |
|
Prorated Bonus Payment(2) |
|
$ |
1,888,711 |
|
|
$ |
356,250 |
|
|
$ |
510,000 |
|
|
$ |
402,500 |
|
|
$ |
412,500 |
|
COBRA Payment(3) |
|
$ |
23,043 |
|
|
$ |
21,857 |
|
|
$ |
33,881 |
|
|
$ |
34,552 |
|
|
$ |
34,552 |
|
Equity Award Acceleration(5)(11) |
|
$ |
21,039,255 |
|
|
$ |
2,038,483 |
|
|
$ |
2,486,151 |
|
|
$ |
5,230,061 |
|
|
$ |
4,023,062 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
TOTAL |
|
$ |
25,746,009 |
|
|
$ |
3,722,840 |
|
|
$ |
4,740,032 |
|
|
$ |
7,219,612 |
|
|
$ |
5,982,615 |
|
*Sums may not add due to rounding
58 Frontdoor, Inc. 2026 Proxy Statement
Executive Compensation Tables
Potential Payments Upon Termination or Change in Control
Pay Ratio Disclosure
As required by Section 953(b) of the Dodd-Frank Wall Street Reform and Consumer Protection Act and Item 402(u) of Regulation S-K of the Exchange Act, we are providing the following information regarding the ratio of the annual total compensation for our principal executive officer to the median of the annual total compensation of all our employees (other than our principal executive officer) (the “CEO Pay Ratio”). Our CEO Pay Ratio is a reasonable estimate calculated in a manner consistent with Item 402(u). However, due to the flexibility afforded by Item 402(u) in calculating the CEO Pay Ratio, our CEO Pay Ratio may not be comparable to the CEO pay ratios presented by other companies.
As of December 31, 2025, our U.S. employee population was 1,986 employees. As is permitted under SEC Rules, we have used the same median employee for fiscal 2025 as we used for fiscal 2024 for purposes of calculating the CEO Pay Ratio. Although the inclusion of 2-10 HBW employees increased our total U.S. employee population in fiscal 2025, we do not believe this change in our employee population results in significant change to our pay ratio disclosure or the calculation of the CEO Pay Ratio due to the similarity of the overall compensation characteristics of 2-10 HBW. To determine our median employee, we used annual salary and bonus paid in 2024 as our consistently applied compensation measure. We annualized this number for those U.S.-based full- and part-time employees who did not work the full fiscal 2024 year. We believe this consistently applied compensation measure reasonably reflects annualized compensation across our employee base.
Our median employee’s annual total compensation for fiscal 2025 was $92,376, which includes, among other things, the value of non-discriminatory employer paid health benefits. For fiscal 2025, the annual total compensation for our CEO, Mr. Cobb, was $9,168,467, which amount varies from his total compensation amount as reflected in the “Summary Compensation Table” because it includes the value of non-discriminatory employer paid health benefits. Accordingly, our CEO Pay Ratio for fiscal 2025 was 99:1.
Frontdoor, Inc. 2026 Proxy Statement 59
Executive Compensation Tables
Pay Versus Performance
Pay Versus Performance
As required by Section 953(a) of the Dodd-Frank Act, and Item 402(v) of Regulation S-K, we are providing the following information about the relationship between executive compensation actually paid and certain company financial metrics. For further information concerning our pay-for-performance philosophy and how we align executive compensation with Company financial performance, refer to “Compensation Discussion and Analysis” above.
The following table provides information showing the relationship during fiscal 2021, 2022, 2023, 2024 and 2025 between (1) compensation “actually paid” (“CAP” as defined by the SEC rule and further described below) to (a) each person serving as our principal executive officer (“PEO”) and (b) our non-PEO NEOs, on an average basis, and (2) the Company’s financial performance based on Total Shareholder Return (“TSR”) and Net Income, and the Company-selected metric Revenue. Information in this section will not be deemed to be incorporated by reference into any of our filings under the Securities Act of 1933, as amended, or the Exchange Act, except as we may specifically do so by reference to this section.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Value of Initial Fixed |
|
|
|
|
|
||
Year |
|
Summary |
|
Compensation |
|
Summary |
|
Compensation |
|
Average |
|
Average |
|
Total |
|
Peer Group |
|
Net |
|
Revenue |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2025 |
|
N/A |
|
N/A |
|
|
|
|
|
|
|
|
|
||||||||
2024 |
|
N/A |
|
N/A |
|
|
|
|
|
|
|
|
|
||||||||
2023 |
|
N/A |
|
N/A |
|
|
|
|
|
|
|
|
|
||||||||
2022 |
|
|
( |
|
|
|
|
|
|
|
|
|
|||||||||
2021 |
|
|
|
N/A |
|
N/A |
|
|
|
|
|
|
|
||||||||
Mr. Cobb.
In accordance with the requirements of Item 402(v)(2)(iii) of Regulation S-K, the following adjustments were made to the amounts reported for Mr. Cobb in the “Summary Compensation Table.” Importantly, the dollar amounts do not reflect the actual amount of compensation earned by, or paid to, Mr. Cobb during fiscal 2025.
Description |
|
2025 ($) |
|
|
|
|
|
|
|
Change in Pension Value Deduction |
|
|
|
|
Pension Service Cost Addition |
|
|
|
|
Prior Pension Service Cost Addition |
|
|
|
|
Stock and Option Awards Adjustment (a) |
|
|
|
|
60 Frontdoor, Inc. 2026 Proxy Statement
Executive Compensation Tables
Pay Versus Performance
Year |
|
Deduction for |
|
Year-End Fair |
|
Year-over- |
|
Fair Value as |
|
Year-over- |
|
Fair Value at |
|
Value of |
|
Total Equity |
|
||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
2025 |
|
|
( |
) |
|
|
|
|
|
|
|
( |
) |
|
|
|
|
|
|
||||||
Non-PEO NEOs.
In accordance with the requirements of Item 402(v)(2)(iii) of Regulation S-K, when calculating the “average compensation actually paid” for our non-PEO NEOs the following adjustments were made to the amounts reported in the “Summary Compensation Table.” Importantly, the dollar amounts do not reflect the actual average amount of compensation earned by, or paid to, our other NEOs as a group for fiscal 2025.
Description |
|
2025 ($) |
|
|
|
|
|
|
|
Change in Pension Value Deduction |
|
|
|
|
Pension Service Cost Addition |
|
|
|
|
Prior Pension Service Cost Addition |
|
|
|
|
Stock and Option Awards Adjustment (a) |
|
|
|
|
Year |
|
Deduction for |
|
Year-End Fair |
|
Year-over- |
|
Fair Value as |
|
Year-over- |
|
Fair Value at |
|
Value of |
|
Total Equity |
|
||||||||
2025 |
|
|
( |
) |
|
|
|
|
|
|
|
( |
) |
|
|
|
|
|
|
||||||
Frontdoor, Inc. 2026 Proxy Statement 61
Executive Compensation Tables
Pay Versus Performance
Required Tabular Disclosure of Most Important Measures Linking Compensation Actually Paid During 2025 to Company Performance
SEC rules require that we disclose the most important financial performance measures that the Company uses to link compensation actually paid to our NEOs for fiscal 2025 to Company performance. These measures are as follows:
Financial Measures Linking Compensation to Performance |
For further information about our compensation program and the ways in which compensation actually paid to our NEOs is linked to Company financial performance, as well as the use of the above financial measures in our executive compensation program, see the “Compensation Discussion and Analysis” section above.
Required Disclosure of the Relationship Between Compensation Actually Paid and Financial Performance Measures
SEC rules additionally require that we describe the relationship between the financial performance measures disclosed in the above Pay Versus Performance table to compensation actually paid to our PEO and the average of the executive compensation paid to the non-PEO NEOs. The following graphs further illustrate the relationship between the pay and performance figures that are included in the “Pay Versus Performance” table above. In addition, the first graph below further illustrates the relationship between Company TSR and that of the S&P Professional and Commercial Services Index.

62 Frontdoor, Inc. 2026 Proxy Statement
Executive Compensation Tables
Pay Versus Performance


Frontdoor, Inc. 2026 Proxy Statement 63
Securities Authorized for Issuance Under Equity Compensation Plans
The following table summarizes our equity compensation plan information as of December 31, 2025.
Equity Compensation Plan Information
Plan category |
|
Number of |
|
|
|
Weighted-average |
|
|
|
Number of |
|
|
|||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Equity compensation plans approved by security holders(1) |
|
|
|
|
|
|
|
|
|
|
|
|
|||
2018 Omnibus Incentive Plan |
|
|
4,169,078 |
|
(2) |
$ |
|
34.38 |
|
(3) |
|
|
7,227,897 |
|
(4) |
2019 Employee Stock Purchase Plan |
|
|
— |
|
|
|
N/A |
|
|
|
|
1,027,802 |
|
|
|
Equity compensation plans not approved by security holders(1) |
|
|
— |
|
|
|
N/A |
|
|
|
|
— |
|
|
|
TOTAL |
|
|
4,169,078 |
|
|
$ |
|
34.38 |
|
(3) |
|
|
8,255,699 |
|
|
64 Frontdoor, Inc. 2026 Proxy Statement
Security Ownership of Certain Beneficial Owners, Directors and Management
The following table sets forth information regarding the beneficial ownership of our Common Stock as of March 1, 2026 (unless otherwise indicated below) by (i) beneficial owners known to us to own more than 5% of our Common Stock, (ii) each of our NEOs, as such term is defined in Item 402(a)(3) of Regulation S-K under the Exchange Act, (iii) each of our directors, and (iv) all of our current directors and executive officers as a group.
Beneficial ownership is determined in accordance with the rules of the SEC. As to beneficial owners known to us to own more than 5% of our Common Stock, the information set forth in this table is based solely on our review of filings made by such persons under Sections 13(d) and 13(g) of the Exchange Act. Percentage ownership for such beneficial owners is calculated by dividing the number of shares beneficially owned by such persons, as reflected in the most recent filing by such persons of statements of beneficial ownership, by the 70,337,655 shares of our Common Stock outstanding on March 1, 2026. Therefore, the percentage ownership may differ from the percentage ownership reported in such statements of beneficial ownership, which may reflect ownership as of a different date. With respect to each of our directors and NEOs, in computing the number of shares beneficially owned by such person and the percentage ownership of such person, any shares of our Common Stock (i) subject to options held by that person that are currently exercisable or exercisable within 60 days of March 1, 2026, or (ii) issuable upon the settlement of RSUs, PSUs and DSEs held by that person within 60 days of March 1, 2026, are deemed issued and outstanding. These shares, however, are not deemed issued and outstanding for purposes of computing percentage ownership of each other individual stockholder.
Our authorized capital consists of our Common Stock and our preferred stock. The percent of class calculations are based on the 70,337,655 shares of our Common Stock outstanding and zero shares of our preferred stock outstanding as of March 1, 2026. None of the shares held by our directors or executive officers has been pledged as security as of March 1, 2026.
Frontdoor, Inc. 2026 Proxy Statement 65
Security Ownership of Certain Beneficial Owners, Directors and Management
Except as otherwise indicated in the footnotes, each of the beneficial owners listed has, to our knowledge, sole voting and investment power with respect to the indicated shares of Common Stock.
Name of Beneficial Owner |
|
Number of Shares of |
|
|
Percentage of |
|
|
|
|
|
|
|
|
Greater than 5% Stockholders: |
|
|
|
|
|
|
BlackRock(1) |
|
10,408,652 |
|
|
14.80% |
|
The Vanguard Group(2) |
|
9,806,048 |
|
|
13.94% |
|
Boston Partners(3) |
|
5,913,346 |
|
|
8.41% |
|
State Street Corporation (4) |
|
|
3,594,266 |
|
|
5.11% |
Named Executive Officers and Directors: |
|
|
|
|
|
|
William C. Cobb(5)(6)(7) |
|
|
657,486 |
|
|
* |
Jason L. Bailey(6) |
|
|
47,832 |
|
|
* |
Jessica P. Ross(8) |
|
|
21,907 |
|
|
* |
Balakrishnan A. Ganesh |
|
|
11,407 |
|
|
* |
Jeffrey A. Fiarman(6) |
|
|
59,105 |
|
|
* |
Evan A. Iverson(6) |
|
|
77,517 |
|
|
* |
D. Steve Boland(7)(9) |
|
|
25,555 |
|
|
* |
Anna C. Catalano |
|
|
33,513 |
|
|
* |
Peter L. Cella(7)(9) |
|
|
62,965 |
|
|
* |
Christopher L. Clipper(7) |
|
|
20,555 |
|
|
* |
Brian P. McAndrews |
|
|
29,348 |
|
|
* |
Liane J. Pelletier |
|
|
29,513 |
|
|
* |
All directors and executive officers as a group (12 persons)(10) |
|
|
1,106,019 |
|
|
1.56% |
* Amount represents less than 1% of our outstanding Common Stock.
66 Frontdoor, Inc. 2026 Proxy Statement
Security Ownership of Certain Beneficial Owners, Directors and Management
Procedures for Approval of Related Person Transactions
Procedures for Approval of Related Person Transactions
Our Board of Directors has adopted a written policy on related person transactions, as defined in the policy. The policy covers transactions in excess of $120,000 involving us and in which any director, director nominee, executive officer or greater than five percent beneficial owner of the Company, or any of their respective immediate family members, has or had a direct or indirect material interest, subject to certain exceptions set forth in the policy.
Under this policy, the Chief Legal Officer must advise the Audit Committee of any related person transaction of which the Chief Legal Officer becomes aware. The Audit Committee must then either approve or reject the transaction in accordance with the terms of the policy. In the course of making this determination, the Audit Committee will consider all relevant facts and circumstances available to it, including, but not limited to, the benefits to the Company; the impact on a director’s independence in the event the related person is a director, an immediate family member of a director or an entity in which a director is a partner, stockholder or executive officer; the availability of other sources for comparable products or services; the terms of the transaction; the terms available to unrelated third parties or to employees generally; whether the transaction would be undertaken in the ordinary course of business; who initiated the transaction; the approximate dollar value of the transaction; and any other information that the Audit Committee or Chair of the Audit Committee considers to be material to investors in light of the circumstances of the particular transaction.
Delinquent Section 16(a) Reports
Section 16(a) of the Exchange Act requires our directors, officers and beneficial owners of more than 10% of our Common Stock (collectively, “Reporting Persons”) to file with the SEC initial reports of ownership and reports of changes in ownership of our Common Stock. Such persons are required by regulations of the SEC to furnish us with copies of all such filings. Based on our records and written representations from our directors and officers, we believe that all such Reporting Persons complied with all Section 16(a) filing requirements in fiscal 2025.
Frontdoor, Inc. 2026 Proxy Statement 67
Additional Information
Information about the 2026 Annual Meeting of Stockholders and Voting
Why am I receiving this Proxy Statement?
The Board of Directors of the Company is soliciting proxies for the 2026 Annual Meeting to be held on Wednesday, May 13, 2026 at 10:00 a.m. Central Time, and at any and all adjournments or postponements thereof, via live audio webcast. You are receiving this Proxy Statement because you owned shares of the Company’s Common Stock at the close of business on March 23, 2026, the record date for the 2026 Annual Meeting (such date and time, the “Record Date”), which entitles you to vote at the 2026 Annual Meeting. By use of a proxy, you can vote whether or not you attend the 2026 Annual Meeting. This Proxy Statement describes the matters on which we would like you to vote and provides information on those matters so that you can make an informed decision.
Is the 2026 Annual Meeting being webcast online?
The 2026 Annual Meeting is being held via an audio webcast online to reach the broadest number of stockholders possible while reflecting the technology-enabled nature of our Company and reducing environmental impacts and costs associated with planning, holding and arranging logistics for in-person meeting proceedings. The 2026 Annual Meeting will provide the same rights and advantages of a physical meeting. Stockholders will be able to present questions online during the meeting, providing our stockholders with the opportunity for meaningful engagement with the Company.
Who is entitled to vote?
As of the close of business on the Record Date, there were 70,126,602 shares, par value $0.01 per share, of the Company’s Common Stock outstanding. If you are a stockholder of record or a beneficial owner of Common Stock on the Record Date, you are entitled to receive notice of, and to vote at, the 2026 Annual Meeting and at any and all adjournments or postponements of the 2026 Annual Meeting. You are entitled to one vote for each share of Common Stock you hold as a stockholder of record or as a beneficial owner for each matter presented for vote at the 2026 Annual Meeting.
What is the difference between holding shares as a stockholder of record and as a beneficial owner?
If your shares are registered directly in your name with the Company’s transfer agent, Computershare Trust Company, N.A., (“Computershare”) you are considered the stockholder of record with respect to those shares, and these proxy materials are being made available directly to you by or on behalf of the Company. As the stockholder of record, you have the right to grant your proxy to the persons named in the enclosed proxy card or to vote at the 2026 Annual Meeting. The Company has provided a proxy card for you to use.
If your shares are held in a bank, brokerage or trustee account or by another nominee, you are considered the beneficial owner of shares held in “street name,” and these proxy materials are being made available to you through your bank, broker, trustee or other nominee.
How do I participate in the virtual meeting?
To participate in the meeting, you must have your sixteen-digit control number that is shown on your Notice of Internet Availability of Proxy Materials (the “Notice”) or on your proxy card if you elected to receive proxy materials by mail. You may access the 2026 Annual Meeting by visiting www.virtualshareholdermeeting.com/FTDR2026. You will be able to submit one question per stockholder during the meeting by typing in your question into the “ask a question” box on the meeting page. We will read and respond to appropriate questions during the meeting. We will post at https://investors.frontdoorhome.com/financial-results responses to appropriate questions related to the Company’s business that we did not address during the 2026 Annual Meeting. If you encounter any difficulties accessing the virtual meeting during the check-in or meeting time, please call the technical support number that will be posted on the Virtual Shareholder Meeting login page.
68 Frontdoor, Inc. 2026 Proxy Statement
Additional Information
Information about the 2026 Annual Meeting of Stockholders and Voting
You may also obtain information regarding access to the 2026 Annual Meeting by contacting our investor relations representative at IR@frontdoorhome.com. This Proxy Statement contains information about the items stockholders will vote on at the 2026 Annual Meeting.
Why did I receive a notice in the mail regarding the Internet availability of proxy materials instead of a full set of proxy materials?
In accordance with rules adopted by the SEC, we are permitted to furnish proxy materials, including this Proxy Statement and our 2025 Annual Report, to our stockholders by providing access to such documents on the Internet instead of mailing printed copies. If you received a Notice by mail, you will not receive a printed copy of the proxy materials. Most stockholders will not receive printed copies of the proxy materials unless they request them. Instead, the Notice, which was mailed to our stockholders, will instruct you as to how you may access and review the proxy materials on the Internet. The Notice also instructs you as to how you may submit your proxy on the Internet or by telephone. If you would like to receive a paper copy of our proxy materials, you should follow the instructions for requesting such materials in the Notice. If you vote by Internet or telephone, please do not also mail your proxy card.
If I am a stockholder of record, how do I vote?
As a stockholder of record, you may vote over the Internet during the 2026 Annual Meeting or by proxy. We recommend that you submit a proxy even if you plan to participate in the 2026 Annual Meeting. This will ensure that your vote will be counted if you are unable to, or later decide not to, participate in the 2026 Annual Meeting. You may revoke your proxy and change your vote during the 2026 Annual Meeting in one of the ways described under “How can I revoke my proxy or change my vote?” in this section of the Proxy Statement.
If you do not wish to vote during the 2026 Annual Meeting, you may vote in advance as follows:
If I am a beneficial owner of shares held in street name, how do I vote?
As the beneficial owner of shares held in street name, you have the right to direct your bank, broker, trustee or other nominee on how to vote and are also invited to participate in the 2026 Annual Meeting. Your bank, broker, trustee or other nominee is obligated to provide you with voting instructions for use in instructing the bank, broker, trustee or other nominee how to vote these shares.
If you do not wish to vote during the 2026 Annual Meeting, you may vote by providing voting instructions to your bank, broker, trustee or other nominee. Subject to and in accordance with the instructions provided by your bank, broker, trustee or other nominee, you may vote in accordance with the instructions provided with your proxy materials in one of the following manners: over the Internet, by telephone or by mail.
How can I get access to the proxy materials over the Internet?
Pursuant to rules adopted by the SEC, we provided access to our proxy materials over the Internet. You can view our proxy materials for the 2026 Annual Meeting on the Internet on our corporate website at https://investors.frontdoorhome.com/financial-results.
How can I vote my shares during the virtual meeting?
The Company will be hosting the 2026 Annual Meeting via live audio webcast. You can participate in the 2026 Annual Meeting live audio webcast at www.virtualshareholdermeeting.com/FTDR2026. The webcast will start at 10:00 a.m. Central Time. You may vote and submit questions while attending the live audio webcast. You will need the sixteen-digit control number included on your Notice or your proxy card (if you received a printed copy of the proxy materials) in order to be able to enter the meeting.
Frontdoor, Inc. 2026 Proxy Statement 69
Additional Information
Information about the 2026 Annual Meeting of Stockholders and Voting
Shares held in your name as the stockholder of record, or beneficially in street name, may be voted by you, while the polls remain open, at www.virtualshareholdermeeting.com/FTDR2026 during the meeting. You will need your control number found in the Notice, or, if you received a printed copy of the proxy materials, on your proxy card or the instructions that accompanied your proxy materials in order to be able to vote and enter the meeting.
Even if you plan to participate in the audio webcast meeting, we recommend that you also submit your proxy or voting instructions as described above so that your vote will be counted if you later decide not to participate in the audio webcast meeting.
What happens if I do not give specific voting instructions?
Stockholders of Record
If you are a stockholder of record and you indicate when voting on the Internet or by telephone that you wish to vote as recommended by our Board of Directors, or if you sign and return a paper proxy card without giving specific voting instructions, then the proxy holders will vote your shares in the manner recommended by our Board on all matters presented in this Proxy Statement and as the proxy holders may determine in their discretion with respect to any other matters properly presented for a vote at the 2026 Annual Meeting.
Beneficial Owners of Shares Held in Street Name
If you are a beneficial owner of shares held in street name and do not provide the organization that holds your shares with specific voting instructions, under exchange rules, the organization that holds your shares may generally vote on routine matters but cannot vote on non-routine matters. We encourage you to provide voting instructions to the organization that holds your shares. If the organization that holds your shares does not receive instructions from you on how to vote your shares on a non-routine matter, the organization that holds your shares will inform our Inspector of Election that it does not have the authority to vote on such matter with respect to your shares. This is generally referred to as a “broker non-vote.” Under current exchange rules, Proposal 1 (Election of Directors) and Proposal 3 (Advisory Vote to Approve Named Executive Officer Compensation) are considered non-routine matters.
How can I revoke my proxy or change my vote?
You may revoke your proxy or change your voting instructions before the proposals are voted on at the 2026 Annual Meeting as follows:
Stockholders of Record
If you are a stockholder of record, by (a) timely voting on the Internet or by telephone (only your latest Internet or telephone proxy submitted prior to the 2026 Annual Meeting will be counted), (b) timely delivering a written revocation or a valid, later-dated proxy to the Corporate Secretary of the Company at the address of the Company’s corporate headquarters, or (c) voting over the Internet at the 2026 Annual Meeting (attendance at the 2026 Annual Meeting, by itself, will not revoke a proxy).
Beneficial Owners of Shares Held in Street Name
If you are a beneficial owner of shares held in street name, by submitting new voting instructions by contacting your bank, broker, trustee or other nominee, or as otherwise provided in the instructions provided to you by your bank, broker, trustee or other nominee.
How many shares must be present or represented to constitute a quorum for the 2026 Annual Meeting?
The presence in person or by proxy, of a majority of the outstanding shares of the Common Stock entitled to vote at the 2026 Annual Meeting constitutes a quorum. A quorum is necessary in order to conduct business at the 2026 Annual Meeting. Abstentions and broker shares that include broker non-votes that are present and entitled to vote are counted for purposes of determining a quorum. If a quorum is not present, the Company expects that the 2026 Annual Meeting will be rescheduled for a later date.
70 Frontdoor, Inc. 2026 Proxy Statement
Additional Information
Information about the 2026 Annual Meeting of Stockholders and Voting
In accordance with the Company’s Bylaws, stockholders and proxy holders attending the virtual 2026 Annual Meeting electronically will be deemed present “in person” for the purposes of satisfying the foregoing ownership requirements.
What is the voting requirement to approve each of the proposals?
Proposal |
|
Voting Requirement |
|
Effect of Abstentions |
|
Effect of Broker Non-Votes |
Proposal 1 |
|
Votes cast “for” must exceed votes cast “against” |
|
No Effect |
|
No Effect |
Proposal 2 |
|
Majority of shares present in person or by proxy and entitled to vote |
|
Vote “Against” |
|
Not Applicable (as brokers have authority to vote) |
Proposal 3 |
|
Majority of shares present in person or by proxy and entitled to vote |
|
Vote “Against” |
|
No Effect |
Other Matters |
|
Majority of shares present in person or by proxy and entitled to vote |
|
Vote “Against” |
|
No Effect |
Proposal 1—Election of Directors
Each director nominee shall be elected by a majority of the votes cast, in person or by proxy, at the 2026 Annual Meeting, meaning that the number of votes cast, in person or by proxy, at the 2026 Annual Meeting “for” such director nominee must exceed the number of votes cast “against” such director nominee’s election. Neither an abstention nor a broker non-vote will affect the outcome of the election of directors.
Proposal 2—Ratification of the Selection of Independent Registered Public Accounting Firm
The affirmative vote of the holders of at least a majority in voting power of the outstanding shares of Common Stock present in person or represented by proxy at the 2026 Annual Meeting and entitled to vote on the proposal is required to ratify the selection of Deloitte as our independent registered public accounting firm for fiscal year 2026. Abstentions will have the same effect as a vote against this proposal.
Proposal 3—Advisory Vote to Approve Named Executive Officer Compensation
The affirmative vote of the holders of at least a majority in voting power of the outstanding shares of Common Stock present in person or represented by proxy at the 2026 Annual Meeting and entitled to vote on the proposal is required for the non-binding, advisory approval of the compensation of the Company’s NEOs as disclosed in this Proxy Statement pursuant to the SEC’s compensation disclosure rules. Abstentions will have the same effect as a vote against this proposal. A broker non-vote will have no effect on the outcome of this proposal. Proposal 3 is an advisory vote and not binding on the Company.
Other Matters
Any other matters that may properly come before the 2026 Annual Meeting will generally require the affirmative vote of the holders of at least a majority in voting power of the outstanding shares of Common Stock present in person or represented by proxy at the 2026 Annual Meeting and entitled to vote on the proposal in order to approve any such proposal. If any other matter not discussed in this Proxy Statement properly comes before the 2026 Annual Meeting upon which a vote may be taken, shares represented by all proxies received by the Company will be voted on that matter in accordance with the discretion of the persons named as proxies. Abstentions will have the same effect as a vote against any such proposal. A broker non-vote will have no effect on the outcome of such a proposal.
How does the Board of Directors recommend that I vote?
The Board of Directors recommends that you vote your shares “FOR” the election of each of the director nominees to the Board of Directors (Proposal 1); “FOR” the ratification of the selection of Deloitte as our independent registered public accounting firm for fiscal 2026 (Proposal 2); and “FOR” the non-binding, advisory approval of the compensation of our named executive officers (Proposal 3).
Frontdoor, Inc. 2026 Proxy Statement 71
Additional Information
Information about the 2026 Annual Meeting of Stockholders and Voting
How are votes counted?
An independent consultant engaged through Broadridge Financial Solutions, Inc. (“Broadridge”), our 2026 Annual Meeting host, will tabulate the vote and act as Inspector of Election. The vote will be certified by the independent Inspector of Election. Except as necessary to meet legal requirements, proxies and ballots that identify the vote of individual stockholders will be kept confidential in cases where stockholders write comments on their proxy cards or in a contested proxy solicitation. During the proxy solicitation period, the Company will receive vote tallies from time to time from the Inspector of Election or Broadridge, but such tallies will provide aggregate figures rather than names of stockholders.
How will proxies be solicited, and who will bear the cost of soliciting votes for the 2026 Annual Meeting?
The Company will bear the entire cost of this proxy solicitation, including the preparation, printing and mailing of the Notice, and any paper copies of this Proxy Statement, the proxy card and any additional soliciting materials sent by the Company to stockholders. The Company will reimburse brokerage firms and other persons representing beneficial owners of shares for reasonable expenses incurred by them in forwarding proxy-soliciting materials to such beneficial owners. Proxies may be solicited by mail and certain of the Company’s directors, officers and regular employees, without additional remuneration, may solicit proxies on the Company’s behalf by telephone, email, facsimile or personal interviews. In addition, the Company has engaged the services of Okapi Partners (“Okapi”), 1212 Avenue of the Americas, 17th Floor, New York, New York 10036 to assist in the proxy solicitation. For these and related advisory services, the Company has agreed to pay Okapi a fee of $20,000.
Who can help answer my questions?
We urge you to carefully read this entire Proxy Statement, including the documents that we refer to in this Proxy Statement. If you have any questions, or need additional material, please feel free to contact Okapi, the firm assisting us in the solicitation of proxies at info@okapipartners.com. Banks, brokers and stockholders located in North America may also contact Okapi at its toll-free number: (888) 785-6707. If outside North America, please call at (212) 297-0720.
How can interested parties communicate with the Board of Directors?
Any stockholder or interested party who wishes to communicate with our Board of Directors as a whole, the independent directors, or any individual member of the Board or any committee of the Board may write to or email the Company at: c/o Chief Legal Officer, Frontdoor, Inc., 3400 Players Club Parkway, Suite 300, Memphis, Tennessee 38125-1731 or Board_of_Directors@frontdoorhome.com.
Our Board of Directors has designated our Chief Legal Officer or his or her designee as its agent to receive and review written communications addressed to the Board, any of its committees, or any Board member or group of Board members. The Chief Legal Officer may communicate with the sender for any clarification. The Chief Legal Officer will promptly forward to the Chairman of the Board and Lead Director all communications, other than ordinary business communications, and in consultation with our Chairman of the Board and CEO, will determine the next steps. The Chief Legal Officer will also forward to the appropriate committee chair any communication alleging financial, legal, ethical or compliance issues or any other matter deemed by the Chief Legal Officer to be potentially material to us. As an initial matter, the Chief Legal Officer will determine whether the communication is a proper communication for the Board. The Chief Legal Officer will not forward to the Board, any committee or any director communications of a personal nature or not related to the duties and responsibilities of the Board, including, without limitation, junk mail and mass mailings, business or employment solicitations, routine customer service complaints, new product or service suggestions, opinion survey polls or any other communications deemed by the Chief Legal Officer to be insignificant to the Company, which we consider to be ordinary business communications. The Chief Legal Officer provides regular reports on the communications received to the Nominating and Corporate Governance Committee.
72 Frontdoor, Inc. 2026 Proxy Statement
Additional Information
Other Business
When do we anticipate mailing the proxy materials to stockholders?
It is anticipated that the Notice of Internet Availability of Proxy Materials will first be mailed to stockholders on or about March 30, 2026.
Important Notice Regarding the Availability of Proxy Materials
for the 2026 Annual Meeting of Stockholders to Be Held on May 13, 2026.
This Proxy Statement and the Annual Report to Stockholders are available
at https://investors.frontdoorhome.com/financial-results.
Other Business
The Board of Directors knows of no other business that will be presented to stockholders at the 2026 Annual Meeting for a vote. If other matters properly come before the 2026 Annual Meeting, the persons named as proxies will vote on them in accordance with their discretion.
Procedures for Submitting Stockholder Proposals
The Company currently intends to hold its next Annual Meeting of Stockholders, (the “2027 Annual Meeting”), in May 2027.
Pursuant to Rule 14a-8 under the Exchange Act, stockholders may present proper proposals for inclusion in the Company’s 2027 proxy statement by submitting their proposals to the Company on or before November 30, 2026. All stockholder proposals requested to be included in the Company’s proxy statement and proxy card must also comply with the requirements set forth in the federal securities laws, including Rule 14a-8, in order to be included in the Company’s proxy statement and proxy card for the 2026 Annual Meeting.
In addition, the Company’s Bylaws establish an advance notice procedure with regard to certain matters, including but not limited to nominations of persons for election as directors and stockholder proposals included in the Company’s proxy statement, to be brought before an annual meeting of stockholders. In general, notice must be received by the Corporate Secretary of the Company not less than 90 days nor more than 120 days prior to the first anniversary of the immediately preceding annual meeting; provided, however, that in the event that (x) the date of the annual meeting is advanced by more than 30 days or delayed by more than 70 days from such anniversary date of the preceding year’s annual meeting or (y) no annual meeting was held during the preceding year, notice by the stockholder to be timely must be so delivered not earlier than the 120th day prior to such annual meeting and not later than the close of business on the later of the 90th day prior to such annual meeting and the close of business on the 10th day following the day on which public announcement of the date of such meeting is first made. To be in proper form, such notice must contain specified information concerning the matters to be brought before such meeting, including, if applicable, information required under Rule 14a-19 under the Exchange Act, and must set forth information concerning the stockholder proposing such matters, as described in the Bylaws. Furthermore, if any stockholder provides notice of a proposed nomination for election to the Board pursuant to Rule 14a-19 under the Exchange Act, such stockholder shall deliver to the Company reasonable evidence that it has met the requirements of Rule 14a-19 under the Exchange Act. Such reasonable evidence must be delivered by registered mail to the Secretary at the principal executive offices of the Company not later than five business days prior to the meeting. Therefore, to be presented at the 2027 Annual Meeting, such a proposal must be received by the Company on or after January 13, 2027 but no later than February 12, 2027. Copies of the Company’s Bylaws may be obtained free of charge by contacting the Corporate Secretary at Frontdoor, Inc., 3400 Players Club Parkway, Suite 300, Memphis, Tennessee 38125-1731.
All notices of proposals by stockholders, whether or not to be included in the Company’s proxy materials, should be sent to the attention of the Corporate Secretary at Frontdoor, Inc., 3400 Players Club Parkway, Suite 300, Memphis, Tennessee 38125-1731.
Frontdoor, Inc. 2026 Proxy Statement 73
Additional Information
Stockholders of Record with Multiple Accounts
Stockholders of Record with Multiple Accounts
SEC rules permit a single set of annual reports and proxy statements to be sent to any household at which two or more stockholders reside. Each stockholder continues to receive a separate proxy card. This procedure is referred to as “householding.” While the Company does not household its mailings to its stockholders of record, a number of brokerage firms with account holders who are Company stockholders have instituted householding. Once a stockholder has consented or receives notice from his or her broker that the broker will be householding materials to the stockholder’s address, householding will continue until the stockholder is notified otherwise or until one or more of the stockholders revokes his or her consent.
If your Annual Report and Proxy Statement have been subject to householding, and you wish to receive separate copies of these documents now and/or in the future, or if your household is receiving multiple copies of these documents, and you wish to request that future deliveries be limited to a single copy, you may notify your broker. You can also request, and the Company will promptly deliver, a separate copy of the Annual Report and Proxy Statement by writing or calling us at the following address or telephone number:
Frontdoor, Inc.
Investor Relations
3400 Players Club Parkway, Suite 300
Memphis, Tennessee 38125-1731
Telephone: (901) 701-5199
Annual Report and Other Corporate Documents
The Annual Report to Stockholders covering fiscal 2025 has been made available with the proxy solicitation material. The Annual Report does not form any part of the material for the solicitation of proxies.
Corporate information and our press releases, Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, and amendments thereto, are available without charge on the Investors – SEC Filings page of our corporate website at www.frontdoorhome.com as soon as reasonably practicable after such material is electronically filed with or furnished to the SEC (i.e., generally the same day as the filing). Copies of our Annual Report on Form 10-K for fiscal 2025, including financial statements and schedules thereto, filed with the SEC, as well as our Corporate Governance Guidelines, Audit Committee Charter, Compensation Committee Charter, Nominating and Corporate Governance Committee Charter, Code of Conduct and Financial Code of Ethics, are also available without charge to stockholders upon written request addressed to Frontdoor, Inc., c/o Corporate Secretary, 3400 Players Club Parkway, Suite 300, Memphis, Tennessee 38125-1731.
By Order of the Board of Directors, |
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Scott W. Andreasen |
Vice President and Secretary |
74 Frontdoor, Inc. 2026 Proxy Statement
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© 2026 Frontdoor, Inc. All rights reserved. |

FRONTDOOR, INC. 3400 PLAYERS CLUB PARKWAY MEMPHIS, TENNESSEE 38125-1731 SCAN TO VIEW MATERIALS & VOTE VOTE BY INTERNET Before The Meeting - Go to www.proxyvote.com or scan the QR Barcode above Use the Internet to transmit your voting instructions and for electronic delivery of information up until 11:59 p.m. Eastern Time on May 12, 2026. Have your proxy card in hand when you access the website and follow the instructions to obtain your records and to create an electronic voting instruction form. During The Meeting - Go to www.virtualshareholdermeeting.com/FTDR2026 You may attend the meeting via the Internet and vote during the meeting. Have the information that is printed in the box marked by the arrow available and follow the instructions. VOTE BY PHONE - 1-800-690-6903 Use any touch-tone telephone to transmit your voting instructions up until 11:59 p.m. Eastern Time on May 12, 2026. Have your proxy card in hand when you call and then follow the instructions. VOTE BY MAIL Mark, sign and date your proxy card and return it in the postage-paid envelope we have provided or return it to Vote Processing, c/o Broadridge, 51 Mercedes Way, Edgewood, NY 11717. TO VOTE, MARK BLOCKS BELOW IN BLUE OR BLACK INK AS FOLLOWS: V86684-P45615 KEEP THIS PORTION FOR YOUR RECORDS THIS PROXY CARD IS VALID ONLY WHEN SIGNED AND DATED. DETACH AND RETURN THIS PORTION ONLY FRONTDOOR, INC. The Board of Directors recommends a vote FOR all the nominees listed in Proposal 1 and FOR Proposals 2 and 3. 1. Election of Directors: To elect eight members to the Board of Directors to serve for a one-year term. Nominees: For Against Abstain 1a. William C. Cobb 1b. D. Steve Boland 1c. Anna C. Catalano 1d. Peter L. Cella 1e. Christopher L. Clipper 1f. Dennis W. Howard 1g. Brian P. McAndrews 1h. Liane J. Pelletier 2. KEEP THIS PORTION FOR YOUR RECORDS DETACH AND RETURN THIS PORTION ONLY To ratify the selection of Deloitte & Touche LLP as the Company’s independent registered public accounting firm for fiscal 2026. 3. Advisory vote to approve the Company’s named executive officer compensation. NOTE: We may also act upon such other business as may properly come before the meeting or any adjournment or postponement thereof. Our board has fixed the close of business on March 23, 2026 as the record date for the determination of stockholders entitled to notice of and to vote at the meeting and any adjournments or postponements thereof For Against Abstain Please sign exactly as your name(s) appear(s) hereon. When signing as attorney, executor, administrator, or other fiduciary, please give full title as such. Joint owners should each sign personally. All holders must sign. If a corporation or partnership, please sign in full corporate or partnership name by authorized officer. Signature [PLEASE SIGN WITHIN BOX] Date Signature (Joint Owners) Date

Important Notice Regarding the Availability of Proxy Materials for the Annual Meeting: The Notice and Proxy Statement and Annual Report are available at www.proxyvote.com. V86685-P45615 2026 Annual Meeting of Stockholders to be held on May 13, 2026 THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS The undersigned, revoking all prior proxies, hereby appoints William C. Cobb, Jeffrey A. Fiarman, Scott W. Andreasen, and each of them, with full power of substitution, as proxies to represent and vote all shares of stock of Frontdoor, Inc. (the "Company") that the undersigned would be entitled to vote at the 2026 Annual Meeting of Stockholders of the Company to be held on Wednesday, May 13, 2026 at 10:00 AM CT, and at any and all adjournments and postponements thereof, upon the matters set forth in the Notice of 2026 Annual Meeting of Stockholders and Proxy Statement dated March 30, 2026, a copy of which has been received by the undersigned. The proxies are further authorized to vote, in their discretion, upon such other business as may properly come before the meeting or any and all adjournments and postponements thereof. The Board of Directors recommends a vote "FOR" the election of each of the nominees for director to the Board of Directors; "FOR" the ratification of the selection of Deloitte & Touche LLP as the Company’s independent registered public accounting firm for fiscal 2026; and "FOR" the advisory approval of the compensation of the Company’s named executive officers. THIS PROXY, WHEN PROPERLY EXECUTED, WILL BE VOTED IN THE MANNER DIRECTED BY THE UNDERSIGNED STOCKHOLDER(S). IF NO DIRECTION IS GIVEN, THIS PROXY WILL BE VOTED "FOR" THE ELECTION OF THE NOMINEES FOR DIRECTOR IN PROPOSAL 1; "FOR" THE RATIFICATION OF THE SELECTION OF THE INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM IN PROPOSAL 2; AND "FOR" THE ADVISORY APPROVAL OF THE COMPENSATION OF THE COMPANY’S NAMED EXECUTIVE OFFICERS IN PROPOSAL 3. YOUR VOTE IS IMPORTANT TO US. PLEASE VOTE BY USING THE INTERNET OR TELEPHONE OR BY COMPLETING, SIGNING, DATING AND RETURNING THIS PROXY CARD PROMPTLY USING THE ENCLOSED ENVELOPE. CONTINUED AND TO BE SIGNED ON REVERSE SIDE
FAQ
What is Frontdoor (FTDR) asking stockholders to vote on in the 2026 proxy?
When and how will Frontdoor’s 2026 annual stockholders meeting be held?
How did Frontdoor (FTDR) perform financially in fiscal 2025?
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