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
Frontdoor's 3-year stock return of +96.6% beats the XLY sector ETF benchmark by +51.8 percentage points, which is below the 65-point threshold required to trigger a vote against directors with strong positive returns, so no TSR concern applies; no overboarding, independence, attendance, or other policy concerns were identified.
No TSR trigger applies given strong company performance relative to XLY; no overboarding, attendance, independence, or other policy concerns were identified.
No TSR trigger applies; Ms. Catalano attended 93% of meetings which is above the 75% threshold, and she holds 3 public company board seats which is below the 4-seat overboarding limit; no other policy concerns were identified.
No TSR trigger applies given strong company performance; no overboarding, attendance, independence, or other policy concerns were identified.
No TSR trigger applies; Mr. Clipper attended 94% of meetings which is above the 75% threshold; no overboarding, independence, or other policy concerns were identified.
Mr. Howard joined the board in March 2026, which is within the 24-month new-director exemption window, so he is fully exempt from any TSR performance trigger; no other policy concerns were identified.
No TSR trigger applies given strong company performance relative to XLY; Mr. McAndrews holds 3 public company board seats which is below the 4-seat overboarding limit; no other policy concerns were identified.
No TSR trigger applies given strong company performance; Ms. Pelletier holds 3 public company board seats which is below the 4-seat overboarding limit; no attendance, independence, or other policy concerns were identified.
All eight director nominees pass policy screens. Frontdoor's 3-year stock return of +96.6% outperforms the XLY Consumer Cyclical ETF by +51.8 percentage points, well below the 65-point gap needed to trigger against votes for directors where shareholders have received strong positive returns. No directors are overboarded, no independence concerns exist on committees, all attendance figures meet or exceed the 75% threshold, and there are no familial relationships with management. Newly appointed director Dennis Howard (joined March 2026) is fully exempt from the TSR trigger under the 24-month new-director rule.
Say on Pay
✓ FORCEO
William C. Cobb
Total Comp
$9,152,204
Prior Support
93%%
CEO William Cobb received total compensation of approximately $9.15 million for fiscal 2025, which is within a reasonable range for a CEO at a consumer services company with a $3.7 billion market cap delivering 14% revenue growth, 25% adjusted profit growth, and a 3-year stock return of +96.6%. The pay structure is well-designed: roughly 85% of the CEO's total pay is variable and at-risk, consisting of performance stock awards tied to 3-year revenue and profit goals plus time-vested stock units and a cash bonus tied to financial and strategic targets — well above the 50-60% variable pay threshold required by policy. Prior shareholder support was strong at 93%, and the company has a meaningful clawback policy covering both restatement scenarios and executive misconduct.
Auditor Ratification
✓ FORAuditor
Deloitte & Touche LLP
Tenure
7 yrs
Audit Fees
$2,074,429
Non-Audit Fees
$657,899
Deloitte's non-audit fees of $657,899 represent approximately 32% of audit fees of $2,074,429, which is well below the 50% threshold that would raise independence concerns; tenure of approximately 7 years (since 2018) is far below the 25-year threshold; no material restatements were identified; and Deloitte is a Big 4 firm appropriate for a $3.7 billion market cap company.
Overall Assessment
The 2026 Frontdoor annual meeting presents a clean ballot with no significant governance concerns. All eight director nominees pass policy screens, the auditor relationship is straightforward with low non-audit fees and reasonable tenure, and the executive pay program is heavily performance-oriented with strong shareholder alignment as evidenced by 93% prior-year Say on Pay support and a 3-year stock return nearly double the consumer sector benchmark. No stockholder proposals appear on this year's ballot.