Evercore grants new co-presidents $20 million stock awards each as it builds leadership bench

Evercore will give each of its two incoming co-presidents a one-time stock award worth $20 million at target, tying the payout to the investment bank's profits and share performance, according to an 8-K filed Wednesday.

The board appointed Nigel Dawn, 62, and Naveen Nataraj, 51, as co-presidents effective Jan. 1, 2027, a move the firm first announced on Oct. 18. Both will report to John Weinberg, who will remain chairman and CEO. Evercore's board and Weinberg have agreed that he will serve in those roles for at least the next three years.

The awards

The compensation committee approved performance restricted stock units with a target value of $20 million for each executive. The number of units earned will depend on operating income goals and relative total shareholder return over a three-year performance period starting Jan. 1, 2027, and can range from 80% to 200% of target.

Any units earned will vest all at once on the fifth anniversary of the effective date, subject to continued employment with certain exceptions. Evercore said the awards are meant to align the executives' interests with shareholders' and to strengthen retention.

The new co-presidents

Dawn leads Evercore's Private Capital Advisory group and will become its chairman. Nataraj is co-head of U.S. investment banking and will keep advising clients. Both sit on the firm's management committee.

By the numbers

• Target award value: $20 million each
• Payout range: 80% to 200% of target
• Performance period: three years from Jan. 1, 2027
• Vesting: fifth anniversary of Jan. 1, 2027

Sources

1. Evercore Inc., Form 8-K (Item 5.02) with Exhibit 99.1 press release dated Oct. 18, 2026, filed Oct. 21, 2026, accession 0001193125-26-427894

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