ALARM.COM HOLDINGS INC (ALRM)
Sector: Information Technology
2026 Annual Meeting Analysis
ALARM.COM HOLDINGS INC · Meeting: June 3, 2026
Directors FOR
8
Directors AGAINST
0
Say on Pay
FOR
Auditor
FOR
Director Elections
Election of Directors
Clarke has served since May 2014 and passes the TSR trigger — ALRM's 3-year return of -10.7% outperforms the disclosed peer group median of -39.2% by +28.5pp, well below the 20pp underperformance threshold required to trigger a No vote; no overboarding, attendance, or independence concerns identified.
Evans has served since February 2021 and passes the TSR trigger — ALRM outperforms its peer group median over 3 years by +28.5pp, below the 20pp threshold; no overboarding, attendance, or independence concerns identified.
Harper joined in May 2024, which is within the 24-month new-director exemption window, so the TSR trigger does not apply; no other disqualifying flags identified.
McAdam has served since July 2012 and passes the TSR trigger — ALRM outperforms its peer group median over 3 years by +28.5pp; while he holds multiple private company board seats, no public company overboarding concern is identified as he is not a sitting public-company CEO, and no independence or attendance concerns are noted.
Nevin has served since April 2016 and passes the TSR trigger — ALRM outperforms its peer group median over 3 years by +28.5pp, below the 20pp threshold; no overboarding, attendance, or independence concerns identified.
Trundle is the CEO and has served as a director since October 2003; as an executive director he is subject to the same TSR trigger, but ALRM outperforms its peer group median over 3 years by +28.5pp, so the trigger does not fire; this director vote is assessed independently of the Say on Pay vote.
Whall has served since August 2021 and passes the TSR trigger — ALRM outperforms its peer group median over 3 years by +28.5pp, below the 20pp threshold; no overboarding, attendance, or independence concerns identified.
Wu has served since February 2020 and passes the TSR trigger — ALRM outperforms its peer group median over 3 years by +28.5pp, below the 20pp threshold; no overboarding, attendance, or independence concerns identified.
All eight director nominees receive a FOR vote. Although ALRM's stock has declined over 3 years in absolute terms (-10.7%), this performance is meaningfully better than the company's disclosed compensation peer group median of -39.2%, meaning ALRM actually outperformed its peers by +28.5 percentage points over three years — well above the 20pp threshold required to trigger a No vote. The board has a disclosed skills matrix, all committee members appear independent and appropriately qualified, attendance was satisfactory for all directors, and no overboarding concerns were identified. Cecile Harper, who joined in May 2024, is exempt from the TSR trigger as she has served fewer than 24 months.
Say on Pay
✓ FORCEO
Stephen Trundle
Total Comp
$2,980,472
Prior Support
94%%
CEO Stephen Trundle's total compensation of approximately $3.0 million is notably below market for a CEO at a $2.2 billion technology company — the proxy explicitly states his pay is below the 25th percentile of peer data at his own request, making pay level a non-concern. The compensation structure is heavily performance-oriented: the proxy discloses that 90% of the CEO's target pay and an average of 82% for other named executives is variable and tied to performance, well above the 50-60% threshold required by policy. Incentive pay was earned against disclosed financial goals (SaaS revenue and Adjusted EBITDA) that were exceeded, the prior year Say on Pay received 94% shareholder support indicating strong investor satisfaction, and the company maintains a meaningful clawback policy consistent with Dodd-Frank requirements.
Auditor Ratification
✓ FORAuditor
PricewaterhouseCoopers LLP
Tenure
17 yrs
Audit Fees
$2,667,775
Non-Audit Fees
$187,000
PricewaterhouseCoopers LLP has audited Alarm.com since 2009, giving it approximately 17 years of tenure — below the 25-year threshold that would trigger concern. Non-audit fees (tax fees of $185,000 plus other fees of $2,000, totaling $187,000) represent approximately 7% of audit fees of $2,667,775, well below the 50% threshold. PwC is a Big 4 firm appropriate for a company of Alarm.com's size and complexity. No material restatements were identified.
Overall Assessment
The 2026 Alarm.com annual meeting presents a straightforward ballot with three standard proposals — director elections, auditor ratification, and Say on Pay — all of which receive FOR votes. Despite the stock's negative absolute return over three years, ALRM has significantly outperformed its disclosed peer group median, passing the director TSR trigger comfortably; CEO pay is below market by design, compensation structure is strongly performance-linked, auditor fees are clean, and prior shareholder engagement has been constructive.
Compensation Peer Group
19 companies disclosed in 2026 proxy filing