Key Highlights

● Seth Bernstein will retire as CEO of AllianceBernstein effective March 31, 2027 and step down as Equitable's Head of Asset Management, with Onur Erzan succeeding him as President and CEO effective April 1, 2027.

● Erzan's 2027 total compensation target is $13.5 million, made up of a $650,000 base salary, a $5.8 million cash bonus, a $3.45 million ICAP award, a $2.35 million Equitable Holdings Equity award, and $1.25 million in carried-over amortized value.

● Bernstein's retirement package includes continued salary and benefits through retirement, a $2.5 million restricted AB unit award vesting over three years, a $1.0 million Equitable Holdings Long Term Incentive Plan award, and $325,000 in salary continuation.

● At its September 23, 2026 annual meeting, Equitable Holdings shareholders elected nine directors, ratified PricewaterhouseCoopers LLP as auditor with 241,391,012 votes in favor, and approved the say-on-pay proposal with 235.6 million votes in favor.

Equitable Holdings (NYSE:EQH) disclosed in an 8-K that Seth Bernstein will retire as Chief Executive Officer of its AllianceBernstein Subsidiary effective March 31, 2027 and step down as Equitable's Head of Asset Management, to be succeeded by Onur Erzan effective April 1, 2027, while also reporting the results of its September 23, 2026 annual meeting, where shareholders elected nine directors, ratified PricewaterhouseCoopers as auditor, and approved the company's say-on-pay proposal.

The AllianceBernstein Transition, From Equitable's Side

Equitable's filing largely mirrors AllianceBernstein's own disclosure of the Leadership change, confirming that Bernstein will retire March 31, 2027 and remain on AB's board, while Erzan, who has served as AB's President since January 2026 and joined the firm in 2021 following 20 years at McKinsey & Company as a senior partner, becomes President and CEO effective April 1, 2027. Bernstein's retirement package includes continued salary and benefits through retirement, a $2.5 million restricted AB unit award vesting over three years, a $1.0 million Equitable Holdings Long Term Incentive Plan award issuable in the second quarter of 2027, and $325,000 in 26-week salary continuation, along with transition support services.

Erzan's Compensation, As Disclosed by the Parent

Equitable's filing details Erzan's 2027 total compensation target of $13.5 million, comprising a $650,000 base salary, a $5.8 million cash bonus, $1.25 million in amortized value carried over from a prior award, a $3.45 million ICAP award, and a $2.35 million Equitable Holdings equity award. His severance terms include 1.5 times base salary and bonus, 18 months of COBRA health coverage, and continued equity vesting if he is terminated without cause, terms consistent with those disclosed in AllianceBernstein's own filing on the same transition.

Annual Meeting Results

At its September 23, 2026 annual meeting, Equitable Holdings shareholders elected nine directors. Vote totals varied by nominee: Douglas Dachille received the strongest support with 237.7 million votes in favor, while Daniel Kaye drew the most opposition, with 2.8 million votes against; each nominee also drew roughly 11.1 million broker non-votes. Shareholders ratified PricewaterhouseCoopers LLP as the company's independent auditor with 241,391,012 votes in favor against 7.8 million opposed, and approved the advisory say-on-pay vote on named executive officer compensation with 235.6 million votes in favor versus 2.5 million against.

The Company's Business

Equitable Holdings is a diversified financial services Holding Company offering insurance, retirement and asset management products, and it owns approximately a 68% economic interest in AllianceBernstein, the asset manager at the center of the leadership transition also disclosed in this filing. Combining a subsidiary's executive transition with routine annual-meeting voting results in a single 8-K is a common practice for holding companies reporting on both corporate governance and material events involving majority-owned subsidiaries.

Two Disclosures, One Filing

Equitable's decision to report both the AllianceBernstein CEO succession and its own annual meeting results in the same 8-K reflects the two items landing close together on the calendar, with the September 23, 2026 annual meeting preceding the filing by two days. The strong support shown for the director slate and for the say-on-pay vote, each drawing well over 95% approval among votes cast, suggests shareholders were broadly satisfied with the company's governance and compensation practices heading into the announced leadership change at its asset management subsidiary.

Tracking the Erzan Handover Through 2027

The AllianceBernstein CEO transition takes effect April 1, 2027, and investors will be watching for any further disclosure on Erzan's performance as he steps into the CEO role. Whether the say-on-pay results, with a modest opposition vote, prompt any compensation committee response is also worth tracking, as is Equitable's continued reporting on its majority stake in AllianceBernstein under the new leadership.