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Pay vs Performance Disclosure

12 Months Ended

Dec. 31, 2023

USD ($)

Dec. 31, 2022

USD ($)

Dec. 31, 2021

USD ($)

$ / shares

Dec. 31, 2020

USD ($)

$ / shares

Dec. 29, 2023

$ / shares

Dec. 30, 2022

$ / shares

Dec. 31, 2019

$ / shares

Pay vs Performance Disclosure

Pay vs Performance Disclosure, Table

Pay Versus Performance

Shown and described below is information about the relationship between certain financial performance measures and executive “compensation actually paid” as determined in accordance with Section 953(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act, and Item 402(v) of Regulation S-K. For further information regarding our pay-for-performance philosophy and how our Human Resources Committee seeks to align executive compensation with the Company’s performance, refer to “Executive Compensation—Compensation Discussion and Analysis.”

Year⁽¹⁾			Summary Compensation Table (SCT) Total for PEO			Compensation Actually Paid (CAP) to PEO⁽²⁾			Average Summary Compensation Table (SCT) Total for Non- PEO NEOs⁽³⁾			Average Compensation Actually Paid (CAP) to Non- PEO NEOs⁽²⁾⁽³⁾			Value of Initial Fixed Investment Based on:						Net Income (GAAP)			Company Selected Measure
Year⁽¹⁾			Summary Compensation Table (SCT) Total for PEO			Compensation Actually Paid (CAP) to PEO⁽²⁾									State Street (STT) TSR⁽⁴⁾			Peer Group TSR (KBW Bank Index)⁽⁴⁾			Net Income (GAAP)			ROE (Non-GAAP)⁽⁵⁾
2023			$13,449,164			$10,603,887			$8,771,564			$7,995,951			111.4			96.7			$1,943,630,434			11.3%
2022			18,004,619			10,071,943			7,633,068			4,733,007			107.6			97.5			2,774,105,680			12.5%
2021			14,113,660			22,684,590			8,719,980			12,311,262			124.7			124.1			2,693,086,657			11.5%
2020			9,309,980			8,579,981			7,972,141			7,465,987			95.2			89.7			2,420,321,971			10.6%

(1)

The closing share price of our common stock on the NYSE was $77.46 on December 29, 2023, $77.57 on December 30, 2022, $93.00 on December 31, 2021, $72.78 on December 31, 2020, and $79.10 on December 31, 2019. The Principal Executive Officer (PEO) was Mr. O'Hanley for all years in the table. The non-PEO NEOs were Messrs. Aboaf and Maiuri (all years), plus Messrs. Aristeguieta and Erickson (2020, 2021 and 2022), Mr. Taraporevala (2022), and Mr. Hu and Ms. Hung (2023).

(2)

The following table describes the adjustments, each of which is prescribed by SEC rules, to calculate the CAP amount from the SCT amount for 2023. There were no adjustments with respect to defined benefit and actuarial pension plans. The SCT amount and the CAP amount do not reflect the actual amount of compensation earned by or paid during 2023, but rather are amounts determined in accordance with Item 402(v) of Regulation S-K.

			2023
Adjustments⁽¹⁾			PEO			Non-PEO NEOs⁽³⁾
Total Compensation from SCT			$13,449,164			$8,771,564
Adjustments for defined benefit and actuarial pension plans: Not Applicable
Adjustments for stock awards
(Subtraction): Stock Awards from SCT			(12,149,906)			(4,564,991)
Addition: Fair value at year end of awards granted during the covered fiscal year that are outstanding and unvested at year end			9,089,166			3,838,287
Addition (Subtraction): Year-over-year change in fair value of awards granted in any prior fiscal year that are outstanding and unvested at year end			(2,845,762)			(554,729)
Addition: Vesting date fair value of awards granted and vesting during such year			847,709			—
Addition (Subtraction): Change as of the vesting date (from the end of the prior fiscal year) in fair value of awards granted in any prior fiscal year for which vesting conditions were satisfied during such year			2,213,516			505,820
Compensation Actually Paid (as calculated)			10,603,887			7,995,951

The valuation assumptions used to calculate fair values did not materially differ from those disclosed at the time of grant.

(3)	Amounts presented are averages for the entire group of non-PEO NEOs in each respective year.

(4)

Total Shareholder Return (TSR) data is calculated based on an initial investment on December 31, 2019 and reflects: for 2023 – four-year cumulative TSR (December 31, 2019 – December 31, 2023); for 2022 – three-year cumulative TSR (December 31, 2019 – December 31, 2022); for 2021 – two-year cumulative TSR (December 31, 2019 – December 31, 2021); and for 2020 – one-year TSR (December 31, 2019 – December 31, 2020). When comparing our annual and long-term performance to that of our peers for compensation purposes and for purposes of disclosure under Item 201(e) of Regulation S-K, we utilize the KBW Bank Index, which comprises State Street, our Direct Peers, and 18 other constituents with which we competed in some aspects of our businesses as of January 1, 2023.

(5)	Non-GAAP financial measures should be considered in addition to, not as a substitute for or superior to, financial measures determined in conformity with GAAP. For a reconciliation of the non-GAAP ROE presented in the table above, see Appendix C.

Company Selected Measure Name

ROE

Named Executive Officers, Footnote

(1)

The closing share price of our common stock on the NYSE was $77.46 on December 29, 2023, $77.57 on December 30, 2022, $93.00 on December 31, 2021, $72.78 on December 31, 2020, and $79.10 on December 31, 2019. The Principal Executive Officer (PEO) was Mr. O'Hanley for all years in the table. The non-PEO NEOs were Messrs. Aboaf and Maiuri (all years), plus Messrs. Aristeguieta and Erickson (2020, 2021 and 2022), Mr. Taraporevala (2022), and Mr. Hu and Ms. Hung (2023).

Peer Group Issuers, Footnote

(4)

Total Shareholder Return (TSR) data is calculated based on an initial investment on December 31, 2019 and reflects: for 2023 – four-year cumulative TSR (December 31, 2019 – December 31, 2023); for 2022 – three-year cumulative TSR (December 31, 2019 – December 31, 2022); for 2021 – two-year cumulative TSR (December 31, 2019 – December 31, 2021); and for 2020 – one-year TSR (December 31, 2019 – December 31, 2020). When comparing our annual and long-term performance to that of our peers for compensation purposes and for purposes of disclosure under Item 201(e) of Regulation S-K, we utilize the KBW Bank Index, which comprises State Street, our Direct Peers, and 18 other constituents with which we competed in some aspects of our businesses as of January 1, 2023.

PEO Total Compensation Amount

$ 13,449,164

$ 18,004,619

$ 14,113,660

$ 9,309,980

PEO Actually Paid Compensation Amount

$ 10,603,887

10,071,943

22,684,590

8,579,981

Adjustment To PEO Compensation, Footnote

(2)

The following table describes the adjustments, each of which is prescribed by SEC rules, to calculate the CAP amount from the SCT amount for 2023. There were no adjustments with respect to defined benefit and actuarial pension plans. The SCT amount and the CAP amount do not reflect the actual amount of compensation earned by or paid during 2023, but rather are amounts determined in accordance with Item 402(v) of Regulation S-K.

			2023
Adjustments⁽¹⁾			PEO			Non-PEO NEOs⁽³⁾
Total Compensation from SCT			$13,449,164			$8,771,564
Adjustments for defined benefit and actuarial pension plans: Not Applicable
Adjustments for stock awards
(Subtraction): Stock Awards from SCT			(12,149,906)			(4,564,991)
Addition: Fair value at year end of awards granted during the covered fiscal year that are outstanding and unvested at year end			9,089,166			3,838,287
Addition (Subtraction): Year-over-year change in fair value of awards granted in any prior fiscal year that are outstanding and unvested at year end			(2,845,762)			(554,729)
Addition: Vesting date fair value of awards granted and vesting during such year			847,709			—
Addition (Subtraction): Change as of the vesting date (from the end of the prior fiscal year) in fair value of awards granted in any prior fiscal year for which vesting conditions were satisfied during such year			2,213,516			505,820
Compensation Actually Paid (as calculated)			10,603,887			7,995,951

The valuation assumptions used to calculate fair values did not materially differ from those disclosed at the time of grant.

Non-PEO NEO Average Total Compensation Amount

$ 8,771,564

7,633,068

8,719,980

7,972,141

Non-PEO NEO Average Compensation Actually Paid Amount

$ 7,995,951

4,733,007

12,311,262

7,465,987

Adjustment to Non-PEO NEO Compensation Footnote

(2)

The following table describes the adjustments, each of which is prescribed by SEC rules, to calculate the CAP amount from the SCT amount for 2023. There were no adjustments with respect to defined benefit and actuarial pension plans. The SCT amount and the CAP amount do not reflect the actual amount of compensation earned by or paid during 2023, but rather are amounts determined in accordance with Item 402(v) of Regulation S-K.

			2023
Adjustments⁽¹⁾			PEO			Non-PEO NEOs⁽³⁾
Total Compensation from SCT			$13,449,164			$8,771,564
Adjustments for defined benefit and actuarial pension plans: Not Applicable
Adjustments for stock awards
(Subtraction): Stock Awards from SCT			(12,149,906)			(4,564,991)
Addition: Fair value at year end of awards granted during the covered fiscal year that are outstanding and unvested at year end			9,089,166			3,838,287
Addition (Subtraction): Year-over-year change in fair value of awards granted in any prior fiscal year that are outstanding and unvested at year end			(2,845,762)			(554,729)
Addition: Vesting date fair value of awards granted and vesting during such year			847,709			—
Addition (Subtraction): Change as of the vesting date (from the end of the prior fiscal year) in fair value of awards granted in any prior fiscal year for which vesting conditions were satisfied during such year			2,213,516			505,820
Compensation Actually Paid (as calculated)			10,603,887			7,995,951

The valuation assumptions used to calculate fair values did not materially differ from those disclosed at the time of grant.

Compensation Actually Paid vs. Total Shareholder Return

Relationship between CAP and State Street TSR and CAP and Peer Group/KBW Bank Index TSR. TSR, for both State Street itself and relative to the KBW Bank Index, is a component of the HRC's assessment of financial performance, driving annual pay decisions. For 2023, CAP for our PEO is $10.6 million and the average CAP for our Non-PEO NEOs is $8.0 million, below the SCT compensation of $13.4 million for our PEO and the average SCT compensation of $8.8 million for our Non-PEO NEOs, respectively, despite the slight increase of TSR from 107.6 in 2022 to 111.4 in 2023. For 2022, CAP for our PEO is $10.1 million and the average CAP for our Non-PEO NEOs is $4.7 million, significantly below the SCT compensation of $18.0 million for our PEO and the average SCT compensation of $7.6 million for our Non-PEO NEOs, respectively, consistent with the decline of TSR from 124.7 in 2021 to 107.6 in 2022. For 2021, CAP for our PEO is $22.7 million and average CAP for our Non-PEO NEOs is $12.3 million, significantly higher than the SCT compensation of $14.1 million for our PEO and the average SCT compensation of $8.7 million for Non-PEO NEOs, respectively, consistent with the increase of TSR from 95.2 in 2020 to 124.7 in 2021. Additionally, because TSR is substantially driven by equity appreciation or depreciation, and because we maintain significant levels of deferred equity-based compensation for our executives, the increase or decrease in CAP versus SCT compensation is strongly aligned with State Street’s TSR performance, linking CAP to the shareholder experience (i.e., when TSR is flat, CAP and SCT compensation tend to converge, when TSR increases, CAP tends to increase relative to SCT compensation and when TSR declines, SCT compensation tends to decrease relative to CAP).

Compensation Actually Paid vs. Net Income

Relationship between CAP and Net Income (GAAP). Although Net Income (GAAP) is not itself included in our Financial Scorecard, the HRC reviews its primary components, Revenue and Expenses, as well as Net Interest Income on a standalone basis, as part of its annual assessment of financial performance. Likewise, although Net Income (GAAP) is not a metric in our performance-based RSU vehicle, other performance-based RSU metrics, including Pre-Tax Margin and Fee Revenue Growth, are related to Net Income (GAAP). As a result, CAP for our PEO and Non-PEO NEOs is indirectly impacted by Net Income (GAAP).

Compensation Actually Paid vs. Company Selected Measure

Relationship between CAP and ROE (non-GAAP). ROE (GAAP) is a component of the HRC’s assessment of annual financial performance, and is one driver of annual pay decisions. Additionally, for awards granted in 2023 and earlier years, ROE (non-GAAP) was a core metric in our performance-based RSU program, impacting the value of this long-term equity vehicle over time. As a result, CAP for our PEO and Non-PEO NEOs is influenced by ROE (non-GAAP).

Total Shareholder Return Vs Peer Group

Relationship between CAP and State Street TSR and CAP and Peer Group/KBW Bank Index TSR. TSR, for both State Street itself and relative to the KBW Bank Index, is a component of the HRC's assessment of financial performance, driving annual pay decisions. For 2023, CAP for our PEO is $10.6 million and the average CAP for our Non-PEO NEOs is $8.0 million, below the SCT compensation of $13.4 million for our PEO and the average SCT compensation of $8.8 million for our Non-PEO NEOs, respectively, despite the slight increase of TSR from 107.6 in 2022 to 111.4 in 2023. For 2022, CAP for our PEO is $10.1 million and the average CAP for our Non-PEO NEOs is $4.7 million, significantly below the SCT compensation of $18.0 million for our PEO and the average SCT compensation of $7.6 million for our Non-PEO NEOs, respectively, consistent with the decline of TSR from 124.7 in 2021 to 107.6 in 2022. For 2021, CAP for our PEO is $22.7 million and average CAP for our Non-PEO NEOs is $12.3 million, significantly higher than the SCT compensation of $14.1 million for our PEO and the average SCT compensation of $8.7 million for Non-PEO NEOs, respectively, consistent with the increase of TSR from 95.2 in 2020 to 124.7 in 2021. Additionally, because TSR is substantially driven by equity appreciation or depreciation, and because we maintain significant levels of deferred equity-based compensation for our executives, the increase or decrease in CAP versus SCT compensation is strongly aligned with State Street’s TSR performance, linking CAP to the shareholder experience (i.e., when TSR is flat, CAP and SCT compensation tend to converge, when TSR increases, CAP tends to increase relative to SCT compensation and when TSR declines, SCT compensation tends to decrease relative to CAP).

Tabular List, Table

Financial Performance Measures

As described in greater detail under “Executive Compensation—Compensation Discussion and Analysis,” the Company’s executive compensation program reflects a variable pay-for-performance philosophy. While the Company utilizes several performance measures to align executive compensation with Company performance, not all of those measures are presented in the Pay Versus Performance table. Moreover, the Company’s executive compensation program is designed to incentivize long-term performance and shareholder value creation. The Human Resources Committee did not consider the Pay Versus Performance disclosure when making its incentive compensation decisions.

The metrics that the Company uses in determining annual incentive compensation awards and in the payout of our long-term performance-based RSUs are selected based on the objective of incentivizing our PEO and Non-PEO NEOs to increase the value of the Company for our shareholders. The following table lists the four performance measures that we believe represent the most important performance measures we used to link the CAP amounts for our NEOs for 2023 to Company performance, all of which are metrics used in our performance-based RSUs. Of these measures, we identified return on average common equity (non-GAAP), which we refer to as ROE (Non-GAAP) in the table above, as the most important of our financial performance measures.

Return on Average Common Equity (non-GAAP)

Fee Revenue Growth (non-GAAP)

Pre-Tax Margin (non-GAAP)

Total Shareholder Return

Total Shareholder Return Amount

$ 111.4

107.6

124.7

95.2

Peer Group Total Shareholder Return Amount

96.7

97.5

124.1

89.7

Net Income (Loss)

$ 1,943,630,434

$ 2,774,105,680

$ 2,693,086,657

$ 2,420,321,971

Company Selected Measure Amount

0.113

0.125

0.115

0.106

Mr. O'Hanley

Mr. O'Hanley

Mr. O'Hanley

Mr. O'Hanley

Additional 402(v) Disclosure

Analysis of the Information Presented in the Pay Versus Performance Table

In accordance with Item 402(v) of Regulation S-K, the Company is providing the following descriptions of the relationships between information presented in the Pay Versus Performance table.

Overview. The HRC reviews, evaluates and approves our executive compensation program annually, and designs the program to effectively align pay with performance and shareholder interests over time. The design elements supporting this goal include our use of shareholder return-based metrics in assessing annual financial performance, heavy reliance on deferred equity-based compensation vehicles (substantially delivered in the form of performance-based equity) and the use of relative TSR in our long-term incentive design. In the Pay Versus Performance table above:

•	Equity-based vehicles comprised 90% of incentive compensation awarded to our PEO in 2023 for the 2022 performance year and in 2022 for the 2021 performance year, 100% in 2021 for the 2020 performance year and 75% in 2020 for the 2019 performance year

•	Equity-based vehicles comprised 65% of incentive compensation awarded to our Non-PEO NEOs in 2023, 2022, 2021 and 2020 for the 2022, 2021, 2020 and 2019 performance years, respectively

Because we maintain significant levels of deferred equity-based compensation for our executives, the change in value over time of CAP for our PEO and Non-PEO NEOs in the table above is driven primarily by the change in our stock price and our performance against metrics aligned to our long-term strategy contained in our performance-based RSUs.

Share Price | $ / shares

$ 93

$ 72.78

$ 77.46

$ 77.57

$ 79.1

Pay vs Performance Disclosure

Return on Average Common Equity

Non-GAAP Measure Description

(5)	Non-GAAP financial measures should be considered in addition to, not as a substitute for or superior to, financial measures determined in conformity with GAAP. For a reconciliation of the non-GAAP ROE presented in the table above, see Appendix C.

Pay vs Performance Disclosure

Fee Revenue Growth

Pay vs Performance Disclosure

Pre-Tax Margin

Pay vs Performance Disclosure

Total Shareholder Return

PEO | Defined Benefit and Actuarial Pension Plans [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

$ 0

PEO | Stock Awards from SCT [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

(12,149,906)

PEO | Fair Value at Year End of Awards Granted During the Covered Fiscal Year that are Outstanding and Unvested at Year End [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

9,089,166

PEO | Year-Over-Year Change in Fair Value of Awards Granted in any Prior Fiscal Year that are Outstanding and Unvested at Year End [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

(2,845,762)

PEO | Vesting Date Fair Value of Awards Granted and Vesting During Such Year [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

847,709

PEO | Change as of the Vesting Date (from the End of the Prior Fiscal Year) in Fair Value of Awards Granted in any Prior Fiscal Year for which Vesting Conditions were Satisfied During Such Year [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

2,213,516

Non-PEO NEO | Defined Benefit and Actuarial Pension Plans [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

0

Non-PEO NEO | Stock Awards from SCT [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

(4,564,991)

Non-PEO NEO | Fair Value at Year End of Awards Granted During the Covered Fiscal Year that are Outstanding and Unvested at Year End [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

3,838,287

Non-PEO NEO | Year-Over-Year Change in Fair Value of Awards Granted in any Prior Fiscal Year that are Outstanding and Unvested at Year End [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

(554,729)

Non-PEO NEO | Vesting Date Fair Value of Awards Granted and Vesting During Such Year [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

0

Non-PEO NEO | Change as of the Vesting Date (from the End of the Prior Fiscal Year) in Fair Value of Awards Granted in any Prior Fiscal Year for which Vesting Conditions were Satisfied During Such Year [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

$ 505,820