FRONTDOOR INC (FTDR)
Sector: Consumer Discretionary
2026 Annual Meeting Analysis
FRONTDOOR INC · Meeting: May 13, 2026
Directors FOR
8
Directors AGAINST
0
Say on Pay
FOR
Auditor
FOR
Director Elections
Election of Directors
FTDR's 3-year total return of +103.7% outperforms the compensation peer group median by +100.7 percentage points, well above the 50-point threshold required to trigger a vote against; no overboarding, attendance, or independence concerns apply to Cobb as CEO-director.
Boland holds only one public company board seat (Frontdoor), attends 100% of meetings, and the company's strong 3-year TSR versus peers does not trigger the underperformance test.
Catalano serves on three public company boards (Frontdoor, Ecovyst, HF Sinclair), which is within the four-board limit; she attended 93% of meetings (above the 75% threshold), and the company's TSR does not trigger an underperformance concern.
Cella holds two public company board seats (Frontdoor and Rockpoint Gas Storage in Canada), attends 100% of meetings, and the company's strong outperformance versus peers clears the TSR test comfortably.
Clipper holds only the Frontdoor board seat among U.S.-listed public companies, attended 94% of meetings (above the 75% threshold), and chairs the Audit Committee with demonstrated financial expertise as a former CFO.
Howard joined the board in March 2026, less than 24 months ago, making him exempt from the TSR trigger under policy; he brings relevant technology and cybersecurity expertise and holds no other U.S. public company board seats.
McAndrews serves on three public company boards (Frontdoor, The New York Times Company, and Xero Limited in Australia), which is within the four-board limit; he attended 100% of meetings and the TSR test is comfortably passed.
Pelletier serves on three public company boards (Frontdoor, Ameriprise Financial, Expeditors International), attends 100% of meetings, and the company's peer-relative TSR outperformance far exceeds the threshold needed to trigger a vote against.
All eight directors receive a FOR vote. FTDR's 3-year total return of +103.7% outperforms the compensation peer group median by approximately +100.7 percentage points, well above the 50-point threshold applicable to strong-positive-TSR companies, so the TSR underperformance trigger does not fire for any director. No director is overboarded, no non-independent director sits on audit or compensation committees, no family relationships with management exist, and all directors met the 75% attendance threshold in fiscal 2025. Dennis Howard, appointed in March 2026, is exempt from the TSR trigger as a director with less than 24 months of tenure.
Say on Pay
✓ FORCEO
William C. Cobb
Total Comp
$9,152,204
Prior Support
93%%
CEO total compensation of $9,152,204 is within a reasonable range for a Consumer Cyclical company with a $3.9B market cap delivering 14% revenue growth and 25% adjusted EBITDA growth in fiscal 2025. The pay structure is well-designed: approximately 80% of the CEO's total direct compensation is variable and at-risk (performance stock awards tied to 3-year revenue and Adjusted EBITDA goals, plus an annual cash bonus), comfortably exceeding the 50-60% variable pay threshold. The company's 3-year stock price return of +103.7% strongly outpaces both the compensation peer group median (+3.0%) and the XLY sector ETF (+49.6%), confirming that above-benchmark incentive pay is aligned with genuine shareholder value creation. Prior Say on Pay support was 93% at the 2025 annual meeting, well above the 70% threshold, and the company has a robust clawback policy in place.
Auditor Ratification
✓ FORAuditor
Deloitte & Touche LLP
Tenure
8 yrs
Audit Fees
$2,074,429
Non-Audit Fees
$657,899
Deloitte's non-audit fees (audit-related fees of $657,899) represent approximately 32% of core audit fees ($2,074,429), which is well below the 50% threshold that would raise independence concerns; Deloitte has served since 2018 (roughly 8 years), far below the 25-year tenure trigger; and there are no disclosed material financial restatements.
Overall Assessment
Frontdoor's 2026 annual meeting ballot presents three routine proposals: director elections, auditor ratification, and an advisory vote on executive pay. All three receive a FOR vote — the board slate is clean with no overboarding or independence issues, the company's stock has dramatically outperformed peers over three years making the TSR trigger irrelevant, Deloitte's fees are well within independence norms at an 8-year tenure, and CEO compensation is appropriately structured with strong pay-for-performance alignment backed by outstanding fiscal 2025 results. There are no stockholder proposals on the ballot.
Compensation Peer Group
17 companies disclosed in 2026 proxy filing