“Three Months Ended March 31, ($ in millions) 2026 2025 Cash variable compensation $ 38.6 $ 29.3 Amortization of equity-based awards 2.3 0.9 Total variable compensation (a) $ 40.9 $ 30.2 36 Table of Contents (a) For the three months ended March 31, 2025, $30.4 million, of variable compensation expense (of the $30.2 million above) is included with economic net income, which excludes $(0.2) million of variable compensation associated with restructuring. (4) Acadian LLC key employee distributions represent the share of Acadian LLC profits after variable compensation that is attributable to key employee equity and profit interests holders, according to their ownership interests.”
“Interest Expense Three months ended March 31, 2026 compared to three months ended March 31, 2025: Interest expense decreased $(1.4) million, or (29.2)%, from $4.8 million for the three months ended March 31, 2025 compared to $3.4 million for the three months ended March 31, 2026, related to redemption of our $275 million 4.80% Senior Notes and associated cash flow hedge in December 2025, partially offset by the addition of our $200 million delayed draw term loan facility in October 2025.”