DEF 14A: CCC Intelligent Solutions Holdings Inc. Announces Annual Meeting of Stockholders

CCC Intelligent Solutions Holdings Inc. will hold its annual meeting of stockholders virtually on May 22, 2025, to vote on director election, executive compensation, auditor ratification, and other business.

Summary

• CCC Intelligent Solutions Holdings Inc. is holding its fiscal year 2025 Annual Meeting of Stockholders virtually on May 22, 2025, at 10:00 a.m. Central Time.
• Stockholders of record as of March 25, 2025, are entitled to vote on proposals including the election of Teri Williams as Class I director, approval of executive compensation, and ratification of Deloitte & Touche LLP as the independent auditor.
• The Board recommends voting FOR the director nominee, the Say-on-Pay proposal, and the auditor ratification.
• The company's common stock outstanding as of the Record Date was 657,818,936 shares.
• The preliminary voting results will be announced at the virtual Annual Meeting, and the final results will be published in a Form 8-K within four business days after the meeting.
• Stockholder proposals for the fiscal year 2026 Annual Meeting must be received by December 9, 2025.
• The company achieved revenue of $938.0 million and adjusted EBITDA of $423.1 million in fiscal year 2024.
• The Human Capital and Compensation Committee certified financial performance under our 2024 AIP at 74.8% of target on the basis of achievement of revenue and adjusted EBITDA goals.

Sentiment

Score: 7

Explanation: The document is generally positive, highlighting growth and strategic initiatives, but also acknowledges some challenges in meeting performance targets. The overall tone is optimistic and forward-looking.

Positives

• The company is providing a virtual annual meeting for ease of access and cost savings.
• The Board is actively engaged in ESG initiatives and has a Diversity Advisory Council.
• The company achieved revenue of $938.0M and adjusted EBITDA of $423.1M in fiscal year 2024.
• CCC strengthened its automotive collision repair facility customer group, growing revenue through a combination of new logos, cross-selling, and upselling.
• In 2024, CCC added over 1,000 new rooftops and now has over 30,500 repair facilities on the CCC ONE network.
• More than 10,000 of these collision repairers are actively using AI-powered solutions in production environments.
• CCC had numerous cross-selling successes, including several insurance clients who expanded their suite of Casualty solutions.
• In addition, we expanded the use of intelligent solutions, including Estimate-STP, which is live at over 40 insurers, and Subrogation, which is live at over 20 insurers.

Negatives

• The 2024 AIP plan design also provided for an individual performance multiplier to be applied based on the individual performance of each executive.
• The Human Capital and Compensation Committee certified financial performance under our 2024 AIP at 74.8% of target on the basis of achievement of revenue and adjusted EBITDA goals.

Risks

• The document mentions legal and regulatory risks, cyber and privacy risks, and financial, tax and audit related risks as significant risks that could affect the business.
• The company's executive compensation program does not create risks that are reasonably likely to have a material adverse effect on the company.

Future Outlook

The company's vision is to power the next evolution of the P&C insurance economy: the CCC Intelligent Experience (IX) Cloud platform.

Management Comments

• The CCC IX Cloud brings intelligent experiences to life through a new event-driven architecture that overlays onto CCCs existing cloud applications, customer workflows, and customer and partner systems.
• Intelligent Experiences are those that work for everyone involved in a claim or repair consumers, businesses, and their employees.
• Intelligent Experiences synthesize these different perspectives to help deliver the optimal outcome for everyone participating in a given interaction by orchestrating data, artificial intelligence, and ecosystems at scale, shaping a world where Life Just Works for customers and the millions of their consumers involved in auto claims and repairs each year.

Industry Context

CCC operates in the SaaS platform for the multi-trillion-dollar insurance economy, powering operations for insurers, repairers, automakers, part suppliers, and more.

Comparison to Industry Standards

• The document references a peer group of 20 publicly-traded US software companies used for executive compensation benchmarking, including companies like Altair Engineering, AppFolio, Aspen Technology, and Guidewire Software.
• The peer group was selected based on industry (U.S.-based technology and software companies), revenue ($450M to $2.5B), and organizational complexity (between 800 and 7,500 employees).

Management Changes

Related Party Transactions

• On March 3, 2025, the company indirectly repurchased 7 million shares of its common stock from the Advent Investor at a price of $10.325 per share, resulting in an aggregate purchase price of approximately $72.3 million.

Stakeholder Impact

• Stockholders are asked to vote on key proposals that will impact the company's governance and executive compensation.
• Employees are impacted by the company's compensation policies and benefit programs.
• Customers may benefit from the company's ESG initiatives and commitment to responsible business practices.

Next Steps

• Stockholders are encouraged to vote on the proposals outlined in the proxy statement.
• The company will announce the voting results after the Annual Meeting.

Key Dates

Keywords

Annual Meeting, Proxy Statement, Stockholders, Executive Compensation, Board of Directors, Auditor Ratification, Director Election, CCC Intelligent Solutions