Europe Headquarters Asia/Paciﬁc Headquarters Japan ... · Gartner 2016 Annual Report 2016 Annual...

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GARTNER HEADQUARTERS

Corporate Headquarters56 Top Gallant Road

Stamford, CT 06902-7700

USA

+1 203 964 0096

Europe HeadquartersTamesis

The Glanty

Egham

Surrey, TW20 9AW

UNITED KINGDOM

+44 1784 431611

Asia/Pacific HeadquartersGartner Australasia Pty. Ltd.

Level 18

40 Mount Street

North Sydney 2060

New South Wales

AUSTRALIA

+61 2 9459 4600

Japan HeadquartersGartner Japan, Ltd.

Atago Green Hills MORI Tower, 5F

2-5-1 Atago, Minato-ku

Tokyo 105-6205,

JAPAN

+81 3 6430 1800

Latin America Headquarters Gartner do Brasil

4300 Faria Lima Avenue

São Paulo 04538-132

BRAZIL

+ 55 11 3043 7544

© 2017 Gartner, Inc. and/or its affiliates. All rights reserved. Gartner and ITxpo are registered trademarks of Gartner, Inc. or its affiliates.

For more information, email [email protected] or visit gartner.com. Produced by Marketing Communications COCORPANNLRPRT032917

Gartn

er 2016

An

nu

al Rep

ort

2016 Annual Report

87990 AnnRpt Cover_.indd 1-3 3/30/17 10:38 PM

Dear Shareholders:

Technology is impacting every enterprise at an

increasingly rapid pace. Whether seeking new sources

of growth, business model transformation or operational

efficiencies, technology is part of the solution for

virtually every enterprise.

Gartner is at the heart of technology. Every

company is becoming a technology company,

creating unparalleled opportunity for Gartner. Our

clients depend on us for the insight and advice they

need to successfully leverage technology within the

digital economy.

Five Elements That Drive Our

Sustained Growth

• At the core of Gartner is our strong value proposition, delivering unique and competitively

differentiated insights on clients’ mission-critical

priorities. We provide high client value at a very

low cost.

• We have a vast market opportunity, driven by

the pervasive criticality of technology-driven change.

We have increased our addressable market over

time through strategic acquisitions, organic growth

and product development.

• Our winning strategy for growth is to deliver

market-leading insights through innovative,

differentiated offerings while operating at scale.

We are growing our organizational capabilities to

capture our vast market opportunity, while ensuring

we remain focused on continuous improvement

and innovation in everything we do.

• We have an extraordinary business model, based on recurring revenue and high retention rates.

Our clients are highly diversified across geography,

industry and client size. We have high incremental

margins and generate free cash flow substantially in

excess of our net income.

• We are exceptional at operational execution. Gartner is a performance-driven organization.

Our tenured, stable leadership team has breadth

and depth, which has led to a sustained track record

of double-digit performance in our key metrics.

In addition, our strong cash flow generation and

strategic balance sheet management have delivered

consistent shareholder value.

Gartner Drove Another Year of Double-Digit

Growth in 2016

The macroeconomic environment remained challenging

in 2016. Many major economic countries and regions

around the world experienced slower economic growth

or declines and virtually all currencies continued to

weaken relative to the U.S. dollar.

Despite this backdrop, we delivered another year of

double-digit growth in 2016. For the full year 2016, we

generated more than $2.4 billion of revenue and $457

million of normalized EBITDA, representing year-over-

year growth of 14% and 10% respectively, excluding the

impact of foreign exchange. Diluted earnings per share

excluding acquisition adjustments was $2.96 in 2016, a

year-over-year increase of approximately 25% excluding

the impact of foreign exchange and free cash flow

increased to $347 million.

In fact, we’ve delivered 7 years of double-digit growth,

reflecting the tremendous value we deliver to our clients

whether they are thriving or are in financial distress.

We’re Not Standing Still

We continue to make investments that will augment

our current offerings or expand our market opportunity.

In 2016, we added more depth to our global analyst

community with the acquisition of U.K.-based Machina

Research. We grew our salesforce, closing 2016 with

more than 2,400 highly talented associates tasked

with capturing our vast market opportunity.

Gene HallChief Executive Officer

Craig SafianChief Financial Officer

Michael J. BingleManaging Partner

Managing Director

Silver Lake

Peter E. BissonFormer Director

McKinsey & Company

Richard J. BresslerPresident and Chief

Financial Officer

iHeart Media, Inc.

Chief Financial Officer

Clear Channel Outdoor

Holdings, Inc.

Raul E. CesanFounder and

Managing Partner

Commercial Worldwide, LLC

Former President and COO

Schering-Plough Corporation

Karen E. DykstraFormer Chief Financial and

Administrative Officer

AOL

Former Chief

Financial Officer

ADP

Anne Sutherland FuchsConsultant

Former Chair, Commission

on Women’s Issues for

New York City

William O. GrabeAdvisory Director

General Atlantic

Eugene A. HallChief Executive Officer

Gartner

Stephen G. PagliucaManaging Director

Bain Capital Partners

Managing Partner

Boston Celtics

James C. SmithChairman of the Board

Gartner

Retired Chairman and CEO

First Health Group Corp.

Board of Directors


Gartner’s acquisition of SCM World further expanded our existing supply chain offerings, enabling us to deepen our relationships with many of the largest enterprises in the world.

Further Fueling Long-Term Growth: CEB Acquisition

In early 2017, Gartner announced an agreement to acquire CEB. This highly complementary acquisition will further advance our strategy to drive long-term growth and value for our shareholders. On a pro-forma basis, the combined business had approximately $3.4 billion of revenue and $0.7 billion of adjusted EBITDA in 2016.

The Gartner brand is known for delivering insights to all levels of IT, Supply Chain and Marketing professionals. CEB is widely admired for delivering best practice and talent management insights to executives in other functions such as HR, Sales, Finance and Legal. Together, we are more than 13,000 associates strong and the leading global research and advisory company serving all major functions in the enterprise.

Business Segment Review

Gartner Research, our largest and most profitable business, closed another record-breaking year with reported revenue of $1.8 billion, an increase of 17% year over year, excluding the impact of foreign exchange. We closed 2016 with reported contract value (a key indicator of future revenue and profitability) of $1.9 billion, an increase of 14% year over year, excluding the impact of foreign exchange, and the highest reported contract value in Gartner history.

Gartner Consulting generated revenue of $346 million in 2016, an increase of 6% year over year, excluding the impact of foreign exchange, and we closed the year with $104 million of backlog (a leading indicator of future growth for Consulting) — in line with our operational target for this measure. Gartner Consulting extends the reach of our Research business by deepening our relationships with our largest clients. We continue to invest in our Managing Partner strategy, ending 2016 with more than 120 Managing Partners.

On a full-year basis, Gartner Events reported revenue of $269 million, an increase of 6% over 2015, excluding the impact of foreign exchange. In total, the 66 events we held in 2016 attracted more than 54,000 attendees.

Gartner Events is the leading global technology conference provider, enabling IT, supply chain and digital marketing professionals around the world to experience our research, interact with our analysts and meet with technology providers — all in a single forum. We remain focused on ensuring every single event we produce is a must-attend conference in every geography in which we operate.

Consistent Execution for Long-Term Results

These are exciting times for Gartner — we are the strongest company we have ever been. We deliver incredible value to our clients whether they are thriving or in financial distress. The acquisition of CEB, along with the investments in our organic business, further advances our strategy to provide high-value research and insights that address our clients’ mission-critical priorities.

In summary, we’re confident in our ability to continue our track record of sustained growth for many years to come.

On behalf of everyone at Gartner, thank you for your support.



INSIDE FRONT COVER

87990 AnnRpt Insert_v2.indd 2 4/7/17 11:00 AM

The Numbers: Highlights

The graph matches the cumulative five-year total return of holders of Gartner, Inc.’s common stock with the cumulative total returns of the S&P Midcap 400 index and a customized peer group of two companies that includes CEB Inc. and Forrester Research, Inc. The graph assumes that the value of the investment in our common stock, in each index, and in the peer group (including reinvestment of dividends) was $100 on 12/31/2011 and tracks it through 12/31/2016.

Segment Revenue 2016 ($ in millions)

Contract Value ($ in millions)

Comparison of Five-Year Cumulative Total ReturnAmong Gartner, Inc., the S&P Midcap 400 Index and a Peer Group

Events: $269

Consulting: $346

Research: $1,830

$1,750

$1,500

$2,000

$1,250

$1,000

$750

$500

$250

$0

$1,263

$1,761

$1,923

$1,603

$1,423

’12 ’13 ’15 ’16’14

12/11 12/1312/12 12/14 12/15 12/16

$300

$250

$200

$150

$100

$50

$0

Gartner, Inc.S&P Midcap 400Peer Group


(In thousands, except income per share, employees and research client enterprises)

Year ended December 31,

2016 2015 2014 2013 2012

STATEMENT OF OPERATIONS DATA

Total revenues $ 2,444,540 $ 2,163,056 $ 2,021,441 $ 1,784,213 $ 1,615,808

Net income 193,582 175,635 183,766 182,801 165,903

Diluted income per common share $ 2.31 $ 2.06 $ 2.03 $ 1.93 $ 1.73

Weighted average shares outstanding (diluted) 83,820 85,056 90,719 94,830 95,842

Common shares outstanding at year-end 82,651 82,338 87,521 91,966 93,361

CASH FLOW DATA

Operating cash flows $ 365,632 $ 345,561 $ 346,779 $ 315,654 $ 279,813

As of December 31,

2016 2015 2014 2013 2012

BALANCE SHEET DATA

Cash and cash equivalents $ 474,233 $ 372,976 $ 365,302 $ 423,990 $ 299,852

Current assets 1,343,196 1,140,997 1,096,658 1,084,882 927,466

Total assets 2,367,335 2,168,517 1,904,351 1,783,582 1,621,277

Current liabilities 1,460,249 1,323,492 1,215,218 1,159,923 1,070,000

Total debt principal outstanding 702,500 825,000 405,000 205,000 205,000

Total liabilities 2,306,457 2,300,917 1,743,180 1,422,266 1,314,604

Stockholders’ equity (deficit) $ 60,878 $ (132,400) $ 161,171 $ 361,316 $ 306,673

STATISTICAL DATA

Contract value $ 1,922,500 $ 1,760,700 $ 1,603,200 $ 1,423,179 $ 1,262,865

Research client enterprises 11,122 10,796 9,958 9,071 8,630

Consulting backlog $ 103,800 $ 117,700 $ 102,600 $ 106,130 $ 102,718

Employees 8,813 7,834 6,758 5,997 5,468


Investor Relations

Account QuestionsOur transfer agent can help you with a variety of shareholder-related services, including:

• Account information• Transfer instructions• Change of address

• Lost certificates• Direct share registration

You can call our transfer agent at:+1 800 937 5449 (toll-free; U.S. shareholders only)+1 718 921 8124 (non-U.S. shareholders)

You can also write our transfer agent and registrar at: American Stock Transfer & Trust Company, LLC Shareholder Relations 59 Maiden Lane – Plaza Level New York, NY 10038 USA [email protected]

Shareholders of record who receive more than one copy of this annual report can contact our transfer agent and arrange to have their accounts consolidated. Shareholders who own Gartner stock through a brokerage firm can contact their broker to request consolidation of their accounts.

Contact InformationTo contact Gartner Investor Relations, call +1 203 316 6537 or send a fax to +1 203 316 6525. We can be contacted during East Coast business hours to answer investment-oriented questions about Gartner.

In addition, you can write us at: Gartner Investor Relations 56 Top Gallant Road P.O. Box 10212 Stamford, CT 06904-2212 USA

Or send us an email at [email protected]. To get financial information online, visit investor.gartner.com.

Independent Registered Public Accounting FirmKPMG LLP 345 Park Avenue New York, NY 10154 USA

As a Gartner shareholder, you’re invited to take advantage of shareholder services or to request more information about Gartner.


April 11, 2017

Dear Stockholder:

On behalf of the Board of Directors and Management of Gartner, Inc., I invite you to attend our 2017 Annual Meeting of Stockholders to be held on Thursday, June 1, 2017, at 10 a.m. local time, at our corporate headquarters at 56 Top Gallant Road, Stamford, Connecticut.

Details of the business to be conducted at the meeting are given in the Notice of Annual Meeting of Stockholders and Proxy Statement which follow this letter. The 2016 Annual Report to Stockholders is also included with these materials.

We have mailed to many of our stockholders a Notice of Internet Availability of Proxy Materials (the “Notice”) containing instructions on how to access our 2017 Proxy Statement and our 2016 Annual Report to Stockholders, and how to vote online on the five management Proposals put before you this year. The Notice also includes instructions on how to request a paper or email copy of the proxy materials, including the Notice of Annual Meeting, Proxy Statement and Annual Report, and proxy card or voting instruction card. Stockholders who previously either requested paper copies of the proxy materials or elected to receive the proxy materials electronically did not receive a Notice, and will receive the proxy materials in the format requested.

In addition, by following the e-consent instructions in the proxy card, stockholders may go paperless in future solicitations and request proxy materials electronically by email on an ongoing basis.

Your vote is important. Whether or not you plan to attend the Annual Meeting, we urge you to review the proxy materials and vote your shares, regardless of the number of shares you hold, as soon as possible. You may vote by proxy over the internet or by telephone using the instructions provided in the Notice. Alternatively, if you received paper copies of the proxy materials by mail, you can also vote by following the instructions on the proxy card or voting instruction card. Instructions regarding the three methods of voting are contained in the Notice, proxy card or voting instruction card.

If you have any questions about the meeting, please contact our Investor Relations Department at (203) 316-6537.

Sincerely,

Eugene A. Hall Chief Executive Officer

NOTICE OF ANNUAL MEETING OF STOCKHOLDERS Date: Thursday, June 1, 2017 Time: 10:00 a.m. local time Location: 56 Top Gallant Road Stamford, Connecticut 06902 Matters To Be Voted On: (1) Election of ten members of our Board of Directors;

(2) Advisory approval of the Company’s executive compensation; (3) Advisory vote on the frequency of future stockholder advisory votes on the

Company’s executive compensation (4) Approval of the Amended and Restated Executive Performance Bonus Plan (5) Ratification of the appointment of KPMG LLP as our independent auditor for

2017. Record Date: April 3, 2017 – You are eligible to vote if you were a stockholder of record on this date. By Order of the Board of Directors,

Daniel S. Peale Corporate Secretary

Stamford, Connecticut April 11, 2017

TABLE OF CONTENTS

GENERAL INFORMATION

The Annual Meeting and Proposals 1 Information Concerning Proxy Materials and

the Voting of Proxies

1

THE BOARD OF DIRECTORS

General Information About Our Board of Directors

5

Majority Vote Standard Compensation of Directors

7 7

Director Compensation Table Director Stock Ownership and Holding Period

Guidelines

8

8

CORPORATE GOVERNANCE

Board Principles and Practices 9 Director Independence 9 Board Leadership Structure 10 Risk Oversight 10 Board and Committee Meetings and Annual

Meeting Attendance

10 Committees Generally and Charters 10 Audit Committee 11 Compensation Committee 12 Governance/Nominating Committee 12 Code of Ethics and Code of Conduct

13

PROPOSAL ONE: ELECTION OF DIRECTORS Nominees for Election to the Board of Directors

14

EXECUTIVE OFFICERS

General Information About Our Current Executive Officers

15

COMPENSATION DISCUSSION & ANALYSIS

Executive Summary 16 Compensation Setting Process for 2016 20 Other Compensation Policies and Information 25

Executive Stock Ownership and Holding Period Guidelines

Clawback Policy Hedging and Pledging Policies Accounting and Tax Impact Grant of Equity Awards

Compensation Committee Report

25 25 25 25 26 26 27

COMPENSATION TABLES AND NARRATIVE DISCLOSURES

Summary Compensation Table 28 Other Compensation Table 29 Grants of Plan-Based Awards Table 30 Employment Agreements With

Executive Officers Potential Payments Upon Termination or Change in Control

31

34

Outstanding Equity Awards at Fiscal Year-End Table

36

Option Exercises and Stock Vested Table 37 Non-Qualified Deferred Compensation Table 37

Equity Compensation Plan Information

38

PROPOSAL TWO: ADVISORY APPROVAL OF THE COMPANY’S EXECUTIVE COMPENSATION

39

SECURITY OWNERSHP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT

40

SECTION 16(a) BENEFICIAL OWNERSHIP REPORTING COMPLIANCE

41

TRANSACTIONS WITH RELATED PERSONS 41

PROPOSAL THREE: ADVISORY VOTE ON THE FREQUENCY OF FUTURE STOCKHOLDERS VOTES ON EXECUTIVE COMPENSATION

PROPOSAL FOUR: APPROVAL OF THE AMENDED AND RESTATED EXECUTIVE PERFORMANCE BONUS PLAN

PROPOSAL FIVE: RATIFICATION OF APPOINTMENT OF INDEPENDENT AUDITOR

42

42

45

Principal Accountant Fees and Services 45 Audit Committee Report 46

MISCELLANEOUS

Stockholder Communications 47 Available Information 47 Process for Submission of Stockholder Proposals

for our 2018 Annual Meeting

47 Annual Report

APPENDIX A – Amended and Restated Executive Performance Bonus Plan

48

49

1

56 Top Gallant Road Stamford, Connecticut 06902

PROXY STATEMENT

For the Annual Meeting of Stockholders to be held on June 1, 2017

GENERAL INFORMATION The Annual Meeting and Proposals The 2017 Annual Meeting of Stockholders of Gartner, Inc. will be held on Thursday, June 1, 2017, for the purposes set forth in the accompanying Notice of Annual Meeting of Stockholders and described in greater detail below. This Proxy Statement and form of proxy, together with our 2016 Annual Report to Stockholders, are being furnished in connection with the solicitation by the Board of Directors of proxies to be used at the meeting and any adjournment of the meeting, and are first being made available to our stockholders on or around April 11, 2017. We will refer to your company in this Proxy Statement as “we”, “us”, the “Company” or “Gartner.” The five proposals to be considered and acted upon at the Annual Meeting, which are described in more detail in this Proxy Statement, are:

� Election of ten (10) nominees to our Board of Directors; � Advisory approval of the Company’s executive compensation; � Advisory vote on the frequency of future stockholder advisory votes on the Company’s executive compensation � Approval of the Amended and Restated Employee Performance Bonus Plan � Ratification of the appointment of KPMG LLP as our independent auditor for the 2017 fiscal year.

Management does not intend to present any other items of business and is not aware of any matters other than those set forth in this Proxy Statement for action at the 2017 Annual Meeting of Stockholders. However, if any other matters properly come before the Annual Meeting, the persons designated by the Company as proxies may vote the shares of Common Stock they represent in their discretion. Information Concerning Proxy Materials and the Voting of Proxies Why is it Important to Vote: Voting your shares is important to ensure that you have a say in the governance of the Company. Additionally, repeated failure to vote may subject your shares to risk of escheatment. For more information on escheatment laws, please visit www.investor.gartner.com. Please review the proxy materials and follow the relevant instructions to vote your shares. We hope you will exercise your rights and fully participate as a stockholder in the future of Gartner. Why Did You Receive a Notice Regarding Availability of Proxy Materials? Securities and Exchange Commission (SEC) rules allow companies to furnish proxy materials to their stockholders via the Internet. This “e-proxy” process expedites stockholders’ receipt of proxy materials, while significantly lowering the costs and reducing the environmental impact of our annual meeting. Accordingly, on April 11, 2017, we mailed to our stockholders (other than those who previously have requested printed proxy materials) a Notice of Internet Availability of Proxy Materials (the “Notice”). If you received a Notice, you will not receive a printed copy of the proxy materials unless you request one. The Notice provides instructions on how to access our proxy materials for the Annual Meeting on a website, how to request a printed copy of the proxy materials and how to vote your shares. We will mail printed copies of our proxy materials to those stockholders who have already elected to receive printed proxy materials. If Your Shares Are Held in “Street Name,” How Are Your Shares Voted? If you are the beneficial owner of shares (meaning that your shares are held in the name of a bank, brokerage or other nominee; i.e., “street name” accounts), you may receive a Notice of Internet Availability of Proxy Materials from that firm containing instructions you must follow in order for your shares to be voted. Additionally, under applicable New York Stock Exchange (NYSE) rules relating

2

to the discretionary voting of proxies, banks, brokers and other nominees are not permitted to vote shares with respect to the election of directors, say on pay and the other proposals presented this year without instructions from the beneficial owner, except they are able to vote without instructions on the ratification of the appointment of an independent auditor. Therefore, beneficial holders are advised that, if they do not timely provide instructions to their bank, broker or other nominee, their shares will not be voted in connection with Proposals One, Two, Three and Four, but may be voted in connection with Proposal Five. Generally, broker non-votes occur on a matter when a broker is not permitted to vote on that matter without instructions from the beneficial owner and instructions are not given. If You Are the Holder of Record of Your Shares, How Are Your Shares Voted? If you are the holder of record of your shares, you will either receive a Notice or printed proxy materials if you have already elected to receive printed materials. The Notice will contain instructions you must follow to vote your shares. If you received proxy materials in paper form, the materials include a proxy card instructing the holder of record how to vote the Shares. How Can You Get Electronic Access to Proxy Materials? The Notice provides instructions regarding how to view our proxy materials for the Annual Meeting online. Additionally, materials are available on www.proxyvote.com and have available your 12-digit Control number(s) located on your Notice. How Can You Request Paper or Email Copies of Proxy Materials? If you received a Notice by mail, you will not receive a printed copy of the proxy materials. If you want to receive paper or email copies of the proxy materials, you must request them. There is no charge for requesting a copy. To facilitate timely delivery, please make your request on or before May 18, 2017. To request paper or e-mail copies, stockholders can go to www.proxyvote.com, call 1-800-579-1639 or send an email to [email protected]. Please note that if you request materials by email, send a blank email with your 12-digit Control number(s) (located on your Notice) in the subject line.

How Can You Sign Up to Receive Future Proxy Materials Electronically? You have the option to receive all future proxy statements, proxy cards and annual reports electronically via email or the Internet. If you elect this option, the Company will only mail printed materials to you in the future if you request that we do so. To sign up for electronic delivery, please follow the instructions below under How Can You Vote to vote using the Internet and vote your shares. After submitting your vote, follow the prompts to sign up for electronic delivery. Who Can Vote at the Annual Meeting? Only stockholders of record at the close of business on April 3, 2017 (the “Record Date”) may vote at the Annual Meeting. As of the Record Date, there were 83,018,719 shares of our common stock, par value $.0005 per share (“Common Stock”) outstanding and eligible to be voted. This amount does not include treasury shares which are not voted.

How Can You Vote? You may vote using one of the following methods:

� Internet You may vote on the Internet up until 11:59 PM Eastern Time on May 31, 2017 by going to the website for Internet voting on the Notice or your proxy card (www.proxyvote.com) and following the instructions on your screen. Have your Notice or proxy card available when you access the web page. If you vote by the Internet, you should not return your proxy card.

� Telephone You may vote by telephone by calling the toll-free telephone number on your proxy card (1-800-690-6903), 24 hours a day and up until 11:59 PM Eastern Time on May 31, 2017, and following prerecorded instructions. Have your proxy card available when you call. If you vote by telephone, you should not return your proxy card.

� Mail If you received your proxy materials by mail, you may vote by mail by marking the enclosed proxy card, dating and signing it, and returning it in the postage-paid envelope provided or to Vote Processing, c/o Broadridge, 51 Mercedes Way, Edgewood, N.Y. 11717.

� In Person You may vote your shares in person by attending the Annual Meeting and submitting your proxy at the meeting.

All shares that have been voted properly by an unrevoked proxy will be voted at the Annual Meeting in accordance with your instructions. If you sign and submit your proxy card, but do not give voting instructions, the shares represented by that proxy will be voted for each proposal as our Board recommends.

3

How to Revoke Your Proxy or Change Your Vote A later vote by any means will cancel an earlier vote. You can revoke your proxy or change your vote before your proxy is voted at the Annual Meeting by giving written notice of revocation to: Corporate Secretary, Gartner, Inc., 56 Top Gallant Road, P.O. Box 10212, Stamford, Connecticut 06904-2212; or submitting another timely proxy by the Internet, telephone or mail; or attending the Annual Meeting to vote in person. If your shares are held in the name of a bank, broker or other holder of record, to vote at the Annual Meeting you must obtain a proxy executed in your favor from your bank, broker or other holder of record and bring it to the Annual Meeting in order to vote. Attendance at the Annual Meeting will not, by itself, revoke your prior proxy.

How Many Votes You Have Each stockholder has one vote for each share of our Common Stock owned on the Record Date for all matters being voted on. Quorum A quorum is constituted by the presence, in person or by proxy, of holders of our Common Stock representing a majority of the number of shares of Common Stock entitled to vote. Abstentions and broker non-votes (described above) will be considered present to determine a quorum. Votes Required Proposal One: Each nominee must receive more “FOR” votes than “AGAINST” votes to be elected. Any nominee who fails to achieve this threshold must tender his or her resignation from the Board pursuant to the Company’s majority vote standard.

Proposals Two, Four and Five: The affirmative “FOR” vote of a majority of the votes cast is required to approve Proposal Two - the advisory (non-binding) approval of the Company’s executive compensation; Proposal Four – approval of the Amended and Restated Executive Performance Bonus Plan; and Proposal Five - the ratification of the appointment of KPMG LLP as our independent auditor for the fiscal year ending December 31, 2017.

Proposal Three: With respect to Proposal Three - the advisory (non-binding) vote on the frequency of future stockholder advisory votes on executive compensation, the alternative receiving the greatest number of votes, or a plurality of the votes – every year, every two years or every three years – will be the frequency that stockholders approve.

If any other matters are brought properly before the Annual Meeting, the persons named as proxies in the accompanying proxy card will have the discretion to vote on those matters for you. If for any reason any of the nominees is not available as a candidate for director at the Annual Meeting, the persons named as proxies will vote your proxy for such other candidate or candidates as may be nominated by the Board of Directors. As of the date of this Proxy Statement, we were unaware of any other matter to be raised at the Annual Meeting.

What Are the Recommendations of the Board? The Board of Directors recommends that you vote:

� FOR election of the ten nominees to our Board of Directors

� FOR approval of the Company’s executive compensation

� FOR every year for the frequency of future stockholder advisory votes on the Company’s executive compensation

� FOR approval of the Amended and Restated Executive Performance Bonus Plan

� FOR ratification of the appointment of KPMG LLP as our independent auditor for fiscal 2017

Who Is Distributing Proxy Materials and Bearing the Cost of the Solicitation? This solicitation of proxies is being made by the Board of Directors and we will bear the entire cost of this solicitation, including costs associated with mailing the Notice and related internet access to proxy materials, the preparation, assembly, printing, and mailing of this Proxy Statement, the proxy card, and any additional solicitation material that we may provide to stockholders. Gartner will request brokerage firms, fiduciaries and custodians holding shares in their names that are beneficially owned by others to solicit proxies from these persons and will pay the costs associated with such activities. The original solicitation of proxies may be supplemented by solicitation by telephone, electronic mail and other means by our directors, officers and employees. No additional compensation will be paid to these individuals for any such services. We have also retained Georgeson Inc. to assist with the solicitation of proxies at an anticipated cost of $6,500 which will be paid by the Company.

4

Where can I find the voting results of the Annual Meeting? We will disclose voting results on a Form 8-K filed with the SEC within four business days after the Annual Meeting, which will also be available on our investor relations website – www.investor.gartner.com.

Who Can Answer Your Questions? If you have questions about this Proxy Statement or the Annual Meeting, please call our Investor Relations Department at (203) 316-6537.

__________________

5

THE BOARD OF DIRECTORS

General Information about our Board of Directors Our Board currently has ten directors who serve for annual terms. Our CEO, Eugene A. Hall, has an employment agreement with the Company that obligates the Company to include him on the slate of nominees to be elected to our Board during the term of the agreement. See Executive Compensation – Employment Agreements with Executive Officers below. There are no other arrangements between any director or nominee and any other person pursuant to which the director or nominee was selected. None of our directors or executive officers is related to another director or executive officer by blood, marriage or adoption. Each member of our Board has been nominated for re-election at the 2017 Annual Meeting. See Proposal One – Election of Directors on page 14. Set forth below are the name, age, principal occupation for the last five years, public company board experience, selected additional biographical information and period of service as a director of the Company of each director, as well as a summary of each director’s experience, qualifications and background which, among other factors, support their respective qualifications to continue to serve on our Board.

Michael J. Bingle, 44, director since 2004

Mr. Bingle is a Managing Partner and Managing Director of Silver Lake, a private equity firm that he joined in January 2000. Prior thereto, he was a principal with Apollo Management, L.P., a private equity firm, and an investment banker at Goldman, Sachs & Co. He is a former director of TD Ameritrade Holding and Virtu Financial Inc. Mr. Bingle’s investing, investment banking and capital markets expertise, coupled with his extensive working knowledge of Gartner (a former Silver Lake portfolio company), its financial model and core financial strategies, provide valuable perspective and guidance to our Board and Compensation and Governance Committees.

Peter E. Bisson, 59, director since August 2016

Mr. Bisson recently retired from McKinsey & Company where he last served as Director and Global Leader of the High Tech Practice. Mr. Bisson held a number of other leadership positions at McKinsey & Company, including chair of its knowledge committee, which guides the firm’s knowledge investment and communication strategies, member of the firm’s shareholders committee, and leader of the firm’s strategy and telecommunications practices. In more than 30 years at McKinsey & Company, Mr. Bisson advised a variety of multinational public companies in the technology-based products and services industry. Mr. Bisson is also a director of ADP. Mr. Bisson’s experience includes advising clients on corporate strategy and M&A, design and execution of performance improvement programs and marketing and technology development, which qualifies him to serve as a director.

Richard J. Bressler, 59, director since 2006

Mr. Bressler is President and Chief Financial Officer of iHeartMedia, Inc., and Chief Financial Officer of Clear Channel Outdoor Holdings, Inc. Prior to joining iHeartMedia, he served as Managing Director of Thomas H. Lee Partners, L.P., a Boston-based private equity firm, from 2006 to July 2013. He joined Thomas H. Lee Partners from his role as Senior Executive Vice President and Chief Financial Officer of Viacom Inc., where he managed all strategic, financial, business development and technology functions. Mr. Bressler has also served in various capacities with Time Warner Inc., including Chairman and Chief Executive Officer of Time Warner Digital Media and Executive Vice President and Chief Financial Officer of Time Warner Inc. Prior to joining Time Inc., he was a partner with the accounting firm of Ernst & Young. Mr. Bressler is currently a Director of iHeartMedia, Inc., and a former director of The Nielsen Company B.V. and Warner Music Group Corp. Mr. Bressler qualifies as an audit committee financial expert, and his extensive financial and operational roles at large U.S. public companies bring a wealth of management, financial, accounting and professional expertise to our Board and Audit Committee.

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Raul E. Cesan, 69, director since 2012

Mr. Cesan has been the Founder and Managing Partner of Commercial Worldwide LLC, an investment firm. Prior thereto, he spent 25 years at Schering – Plough Corporation, serving in various capacities of substantial responsibility: the President and Chief Operating Officer (from 1998 to 2001); Executive Vice President of Schering-Plough Corporation and President of Schering-Plough Pharmaceuticals (from 1994 – 1998); President of Schering Laboratories, U.S. Pharmaceutical Operations (from 1992 to 1994); and President of Schering – Plough International (from 1988 to 1992). Mr. Cesan is also a director of The New York Times Company. Mr. Cesan’s extensive operational and international experiences provide valuable guidance to our Board and Compensation Committee.

Karen E. Dykstra, 58, director since 2007

Ms. Dykstra served as Chief Financial and Administrative Officer from November 2013 to July 2015, and as Chief Financial Officer from September 2012 to November 2013, of AOL, Inc. From January 2007 until December 2010, Ms. Dykstra was a Partner of Plainfield Asset Management LLC (“Plainfield”), and she served as Chief Operating Officer and Chief Financial Officer of Plainfield Direct LLC, Plainfield’s business development company, from May 2006 to 2010, and as a director from 2007 to 2010. Prior thereto, she spent over 25 years with Automatic Data Processing, Inc., serving most recently as Chief Financial Officer from January 2003 to May 2006, and prior thereto as Vice President – Finance, Corporate Controller and in other capacities. Ms. Dykstra is a director of VMware, Inc. and Boston Properties, Inc., and a former director of Crane Co. and AOL, Inc. Ms. Dykstra qualifies as an audit committee financial expert, and her extensive management, financial, accounting and oversight experience provide important expertise to our Board and Audit Committee.

Anne Sutherland Fuchs, 69, director since July 1999

Ms. Fuchs served as Group President, Growth Brands Division, Digital Ventures, a division of J.C. Penney Company, Inc., from November 2010 until April 2012. She also served as Chair of the Commission on Women’s Issues for New York City during the Bloomberg Administration, a position she held from 2002 through 2013. Previously, Ms. Fuchs served as a consultant to companies on branding and digital initiatives, and as a senior executive with operational responsibility at LVMH Moët Hennessy Louis Vuitton, Phillips de Pury & Luxembourg and several publishing companies, including Hearst Corporation, Conde Nast, Hachette and CBS. Ms. Fuchs is also a director of Pitney Bowes Inc. Ms. Fuchs’ executive management, content and branding skills plus operations expertise, her knowledge of government operations and government partnerships with the private sector, and her keen interest and knowledge of diversity, governance and executive compensation matters provide important perspective to our Board and its Governance and Compensation Committees.

William O. Grabe, 78, director since 1993

Mr. Grabe is an Advisory Director of General Atlantic LLC, a global private equity firm. Prior to joining General Atlantic in 1992, Mr. Grabe was a Vice President and Corporate Officer of IBM Corporation. Mr. Grabe is presently a director of Covisint Corporation, QTS Realty Trust, Inc. and Lenovo Group Limited. He is a former director of Infotech Enterprises Limited, Compuware Corporation and iGate Computer Systems Limited (f/k/a Patni Computer Systems Ltd.). Mr. Grabe’s extensive senior executive experience, his knowledge of business operations and his vast knowledge of the global information technology industry have made him a valued member of the Board and Governance Committee.

Eugene A. Hall, 60, director since 2004

Mr. Hall is the Chief Executive Officer of Gartner. Prior to joining Gartner in 2004, Mr. Hall was a senior executive at Automatic Data Processing, Inc., a Fortune 500 global technology and service company, serving most recently as President, Employers Services Major Accounts Division, a provider of human resources and payroll services. Prior to joining ADP in 1998, Mr. Hall spent 16 years at McKinsey & Company, most recently as Director. As Gartner’s CEO, Mr. Hall is responsible for developing and executing on the Company’s operating plan and business strategies in consultation with the Board of Directors and for driving Gartner’s business and financial performance, and is the sole management representative on the Board.

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Stephen G. Pagliuca, 62, director since 1990

Mr. Pagliuca is a Managing Director of Bain Capital Partners, LLC and is also a Managing Partner and an owner of the Boston Celtics basketball franchise. Mr. Pagliuca joined Bain & Company in 1982, and founded the Information Partners private equity fund for Bain Capital in 1989. Prior to joining Bain, Mr. Pagliuca worked as a senior accountant and international tax specialist for Peat Marwick Mitchell & Company in the Netherlands. Mr. Pagliuca is a former director of Burger King Holdings, Inc., HCA, Inc. (Hospital Corporation of America), Quintiles Transnational Corporation and Warner Chilcott PLC.

He has deep subject matter knowledge of Gartner’s history, the development of its business model and the global information technology industry, as well as financial and accounting matters.

James C. Smith, 76, director since October 2002 and Chairman of the Board since 2004

Mr. Smith was Chairman of the Board of First Health Group Corp., a national health benefits company until its sale in 2004. He also served as First Health’s Chief Executive Officer from January 1984 through January 2002 and President from January 1984 to January 2001. Mr. Smith’s long-time expertise and experience as the founder, senior-most executive and chairman of the board of a successful large public company provides a unique perspective and insight into management and operational issues faced by the Board, Audit Committee and our CEO. This experience, coupled with Mr. Smith’s personal leadership qualities, qualify him to continue to serve as Chairman of the Board.

Majority Vote Standard The Company has adopted a majority vote standard for the election of directors which provides that a nominee must receive more FOR votes than AGAINST votes for election as a director. Should a nominee fail to achieve this threshold, the nominee must immediately tender his or her resignation to the Chairman. The Board, in its discretion, can determine whether or not to accept the resignation. Compensation of Directors The Governance Committee annually reviews all forms of independent director compensation and recommends changes to the Board, when appropriate. The Governance Committee is supported in this review by Exequity, LLP. The review examines director compensation in relation to two comparator groups: Proxy Peer Group and General Industry Reference Group. The Proxy Peer Group includes the same companies used to benchmark executive pay (see page 21). The General Industry Reference Group includes 100 companies with median revenues similar to that of Gartner. Regular review of the director compensation program ensures that the director compensation is reasonable, and reflects a mainstream approach to the structure of the compensation components and the method of delivery. No changes have been made to the director compensation program since 2013. The section that follows describes the current director compensation program and components.

Directors who are also employees receive no fees for their services as directors. Non-management directors are reimbursed for their meeting attendance expenses and receive the following compensation for their service as director:

Annual Director Retainer Fee: $60,000 per director and an additional $100,000 for our non-executive Chairman of the Board, payable in arrears in four equal quarterly installments, on the first business day of each quarter. These amounts are paid in common stock equivalents (CSEs) granted under the Company’s 2014 Long-Term Incentive Plan (“2014 Plan”), except that a director may elect to receive up to 50% of this fee in cash. The CSEs convert into Common Stock on the date the director’s continuous status as a director terminates, unless the director elects accelerated release as provided in the 2014 Plan. The number of CSEs awarded is determined by dividing the aggregate director fees owed for a quarter (other than any amount payable in cash) by the closing price of the Common Stock on the first business day following the close of that quarter.

Annual Committee Chair Fee: $10,000 for the chair of our Governance Committee and $15,000 for the chairs of our Audit and Compensation Committees. Amounts are payable in the same manner as the Annual Fee.

Annual Committee Member Fee: $7,500 for our Governance Committee members, $10,000 for our Compensation Committee members and $15,000 for our Audit Committee members. Committee chairs receive both a committee chair fee and a committee member fee. Amounts are payable in the same manner as the Annual Fee.

Annual Equity Grant: $200,000 in value of restricted stock units (RSUs), awarded annually on the date of the Annual Meeting. The number of RSUs awarded is determined by dividing $200,000 by the closing price of the Common Stock on the award date. The restrictions lapse one year after grant subject to continued service as director through that date; release may be deferred at the director’s election.

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Director Compensation Table This table sets forth compensation earned or paid in cash, and the grant date fair value of equity awards made, to our non-management directors on account of services rendered as a director in 2016. Mr. Hall receives no additional compensation for service as director.

Name

Fees Earned Or Paid

($)(1)

Stock Awards ($)(2)(3)

Total ($)

Michael J. Bingle 77,500 200,000 277,500 Peter Bisson 24,822 162,740 187,562 Richard J. Bressler 90,000 200,000 290,000 Raul E. Cesan 70,000 200,000 270,000 Karen E. Dykstra 75,000 200,000 275,000 Anne Sutherland Fuchs 92,500 200,000 292,500 William O. Grabe 77,500 200,000 277,500 Steven G. Pagliuca 60,000 200,000 260,000 James C. Smith 175,000 200,000 375,000

(1) Includes amounts earned in 2016 and paid in cash and/or common stock equivalents (CSEs) on account of the Annual Director Retainer Fee, Annual Committee Chair Fee and/or Annual Committee Member Fee, described above. For Mr. Bisson, represents the pro rata Director Retainer Fee from August 2, 2016, the date of his appointment to the board. Does not include reimbursement for meeting attendance expenses.

(2) Except for Mr. Bisson, represents the grant date value of an annual equity award computed in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 718, consisting of 1,960 restricted stock units (RSUs) that vest on May 26, 2017, one year from the date of the 2016 Annual Meeting (unless deferred release was elected), subject to continued service through that date. Accordingly, the number of RSUs awarded was calculated by dividing $200,000 by the closing price of our Common Stock on May 26, 2016 ($102.02).

(3) For Mr. Bisson, represents the grant date value of an annual equity award computed in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 718, consisting of 1,743 restricted stock units (RSUs) that vest on May 26, 2017, one year from the date of the 2016 Annual Meeting, subject to continued service through that date. The number of RSUs awarded was calculated by dividing $162,740 ($200,000 pro-rated from August 2, 2016, the date of his appointment to the board, to May 26, 2017) by the closing price of our Common Stock on August 15, 2016, the date of grant ($93.32).

Director Stock Ownership and Holding Period Guidelines

The Board believes directors should have a financial interest in the Company. Accordingly, each director is required to hold shares of Gartner common stock with a value of not less than five (5) times the Annual Director Retainer Fee ($60,000). Directors are required to achieve the guideline within three years of joining the Board. In the event a director has not satisfied the guideline within the three year period, he/she will be required to hold 50% of net after-tax shares received from the Company either in the form of equity awards or released CSEs until the guideline is achieved. We permit directors to apply deferred and unvested equity awards towards satisfying these requirements. As of December 31, 2016, all of our directors are in compliance with these guidelines.

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CORPORATE GOVERNANCE Gartner is committed to maintaining strong corporate governance practices.

Corporate Governance Highlights:

� Independent Chairman of the Board

� Majority voting for directors

� Annual election of directors

� Annual Board and Committee performance evaluation

� Executive sessions after each Board and Committee meeting

� 9 out of 10 directors are independent

� 2 out of 10 directors are women

� Fully independent Board committees

� Annual director affirmation of compliance with Code of Conduct

� Annual director evaluation of CEO Board Principles and Practices Our Board Principles and Practices (the “Board Guidelines”) are reviewed annually and revised in light of legal, regulatory or other developments, as well as emerging best practices, by our Governance Committee and Board. The Guidelines, which are posted on www.investor.gartner.com, describe the Board’s responsibilities, its role in strategic development and other matters, discussed below. Director Independence Our Board Guidelines require that our Board be comprised of a majority of directors who meet the criteria for independence from management set forth by the New York Stock Exchange (“NYSE”) in its corporate governance listing standards. Our committee charters likewise require that our standing Audit, Compensation and Governance/Nominating Committees be comprised only of independent directors. Additionally, the Audit Committee members must be independent under Section 10A-3 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). The Compensation Committee members must be independent under Rule 16b-3 promulgated under the Exchange Act as well as applicable NYSE corporate governance listing standards, and they must qualify as outside directors under regulations promulgated under Section 162(m) (“Section 162(m)”) of the Internal Revenue Code of 1986, as amended (the “Code”).

Utilizing all of these criteria, as well as all relevant facts and circumstances, the Board annually assesses the independence from management of all non-management directors and committee members by reviewing the commercial, financial, familial, employment and other relationships between each director and the Company, its auditors and other companies that do business with Gartner.

After analysis and recommendation by the Governance Committee, the Board determined that:

� all non-management directors (Michael Bingle, Peter Bisson, Richard Bressler, Raul Cesan, Karen Dykstra, Anne Sutherland Fuchs, William Grabe, Stephen Pagliuca and James Smith) are independent under the NYSE listing standards;

� our Audit Committee members (Ms. Dykstra and Messrs. Bressler and Smith) are independent under the criteria set forth in Section 10A-3 of the Exchange Act; and

� our Compensation Committee members (Ms. Fuchs and Messrs. Bingle and Cesan) are independent under the criteria set forth in Exchange Act Rule 16b-3 as well as under applicable NYSE corporate governance listing standards, and qualify as “outside directors” under Code Section 162(m) regulations.

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Board Leadership Structure The leadership of our Board of Directors rests with our independent Chairman of the Board, Mr. James C. Smith. Gartner believes that the separation of functions between the CEO and Chairman of the Board provides independent leadership of the Board in the exercise of its management oversight responsibilities, increases the accountability of the CEO and creates transparency into the relationship among executive management, the Board of Directors and the stockholders. Additionally, in view of Mr. Smith’s extensive experience as a chief executive officer of a major corporation, he is able to provide an independent point of view to our CEO on important management and operational issues. Risk Oversight The Board of Directors, together with management, oversees risk at Gartner. The Company's strategic objectives and activities are presented by executive management to the Board and approved annually and more frequently as necessary. The Risk (Internal Audit) function reports directly to the Audit Committee, and provides quarterly reports to the committee. The committee reviews the results of the internal audit annual risk assessment and the proposed internal audit plan. Subsequent quarterly meetings include an update on ongoing internal audit activities, including results of audits and any changes to the audit plan. Risk also meets with the Audit Committee in executive session on a quarterly basis. The General Counsel, who serves as Chief Compliance Officer, also reports directly to the Audit Committee on a quarterly basis concerning the effectiveness and status of the Company’s legal and ethical compliance program and initiatives, hotline activities and litigation matters. The Company maintains internal controls and procedures over financial reporting, as well as enterprise wide internal controls, that are updated and tested annually by management and our independent auditors. Any internal control deficiencies and the status of remediation efforts as well as any findings of the Disclosure Controls Committee are reported to the Audit Committee on a quarterly basis. Risk Assessment of Compensation Policies and Practices Management conducts an annual risk assessment of the Company’s compensation policies and practices, including all executive, non-executive and business unit compensation policies and practices, as well as the variable compensation policies applicable to our global sales force. The results of this assessment are reported to the Compensation Committee. In 2016, management concluded, and the Compensation Committee agreed, that no Company compensation policies and practices created risks that were reasonably likely to have a material adverse effect on the Company. Board and Committee Meetings and Annual Meeting Attendance Our Board held seven meetings during 2016. During 2016, all of our directors attended at least 75% of all Board and committee meetings held during the periods in which such director served as a director and/or committee member. At each regular quarterly Board and committee meeting, time is set aside for the non-management directors to meet in executive session without management present. James C. Smith, our non-executive Chairman of the Board, presides over the executive sessions at the Board meetings, and each committee chairperson presides over the executive sessions at their respective committee meetings. Directors are not required, but are invited, to attend the Annual Meeting of Stockholders. In 2016, Mr. Hall and other executive officers of the Company attended the 2016 Annual Meeting of Stockholders. Committees Generally and Charters As noted above, our Board has three standing committees: Audit, Compensation and Governance/Nominating, and all committee members have been determined by our Board to be independent under applicable standards. Our Board of Directors has approved a written charter for each committee which is reviewed annually and revised as appropriate. The table below provides information for each Board committee in 2016:

[table follows]

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Name Audit Compensation Governance/Nominating

Michael J. Bingle X X Peter Bisson Richard J. Bressler X (Chair) Raul E. Cesan X Karen E. Dykstra X Anne Sutherland Fuchs X (Chair) X William O. Grabe X (Chair) Stephen G. Pagliuca James C. Smith X

Meetings Held in 2016: 5 5 4 Audit Committee

Our Audit Committee serves as an independent body to assist in Board oversight of:

� the integrity of the Company’s financial statements;

� the Company’s compliance with legal and regulatory requirements;

� the independent auditor’s retention, qualifications and independence; and

� the Company’s Risk, Compliance and Internal Audit functions Gartner has a separately designated standing audit committee established in accordance with Section 3(a)(58)(A) of the Exchange Act. Our Board has determined that both Ms. Dykstra and Mr. Bressler qualify as audit committee financial experts, as defined by the rules of the SEC, and that all members have the requisite accounting or related financial management expertise and are financially literate as required by the NYSE corporate governance listing standards. Additionally, the Committee is directly responsible for the appointment, compensation and oversight of our independent auditor, KPMG; approves the engagement letter describing the scope of the annual audit; approves fees for audit and non-audit services; provides an open avenue of communication among the independent auditor, the Risk and Internal Audit functions, management and the Board; resolves disagreements, if any, between management and the independent auditors regarding financial reporting for the purpose of issuing an audit report in connection with our financial statements; and prepares the Audit Committee Report required by the SEC and included in this Proxy Statement on page 46 below.

The independent auditor reports directly to the Audit Committee. By meeting with the independent auditor and the internal auditor, and operating and financial management personnel, the Audit Committee oversees matters relating to accounting standards, policies and practices, any changes thereto and the effects of any changes on our financial statements, financial reporting practices and the quality and adequacy of internal controls. Additionally our internal audit and compliance functions report directly to the Audit Committee. After each Audit Committee meeting, the Committee meets separately with the CFO, the independent auditor and the internal auditor, without management present.

The Audit Committee has established procedures for (i) the receipt, retention and treatment of complaints received by the Company regarding accounting, internal accounting controls or auditing matters, and (ii) the confidential, anonymous submission by employees of concerns regarding questionable accounting or auditing matters. A toll-free phone number managed by a third party is available for confidential and anonymous submission of concerns relating to accounting, auditing and other illegal or unethical matters, as well as alleged violations of Gartner’s Code of Conduct or any other policies. All submissions on the hotline are reported to the General Counsel, who determines the mode of investigation, to the internal auditor and to the Audit Committee at each regular meeting. The Audit Committee has the power and funding to retain independent counsel and other advisors as it deems necessary to carry out its duties.

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Compensation Committee

Our Compensation Committee has responsibility for:

� administering and approving all elements of compensation for the Chief Executive Officer and other executive officers;

� approving, by direct action or through delegation, all equity awards, grants, and related actions under the provisions of our equity plan, and administering the plan;

� participating in the evaluation of CEO performance (with the input and oversight of the Governance Committee and the Chairman of the Board);

� approving the peer group used for executive compensation benchmarking purposes;

� evaluating the independence of all compensation committee advisers; and

� providing oversight in connection with company-wide compensation programs.

The Committee reviewed and approved the Compensation Discussion and Analysis contained in this Proxy Statement, recommended its inclusion herein (and in our 2016 Annual Report on Form 10-K) and issued the related report to stockholders as required by the SEC (see Compensation Committee Report on page 27 below). Exequity LLP (“Exequity”) was retained by the Committee to provide information, analyses, and advice to the Compensation Committee during various stages of 2016 executive compensation planning. Exequity reports directly to the Compensation Committee chair. In the course of conducting its activities, Exequity attended meetings of the Committee and briefed the Compensation Committee on executive compensation trends generally. The Committee has assessed the independence of Exequity, and has concluded that Exequity is independent and that its retention presents no conflicts of interest either to the Committee or the Company. Final decisions with respect to determining the amount or form of executive compensation under the Company’s executive compensation programs are made by the Committee alone and may reflect factors and considerations other than the information and advice provided by its consultants. Please refer to the Compensation Discussion & Analysis beginning on page 16 for a more detailed discussion of the Committee’s activities with respect to executive compensation.

Compensation Committee Interlocks and Insider Participation. During 2016, no member of the Compensation Committee served as an officer or employee of the Company, was formerly an officer of the Company or had any relationship with the Company required to be disclosed under Transactions With Related Persons below. Additionally, during 2016, no executive officer of the Company: (i) served as a member of the compensation committee (or full board in the absence of such a committee) or as a director of another entity, one of whose executive officers served on our Compensation Committee; or (ii) served as a member of the compensation committee (or full board in the absence of such a committee) of another entity, one of whose executive officers served on our Board. Governance/Nominating Committee

Our Governance/Nominating Committee (the “Governance Committee”) has responsibility for:

� the size, composition and organization of our Board;

� the independence of directors and committee members under applicable standards;

� our corporate governance policies, including our Board Principles and Practices;

� the criteria for directors and the selection of nominees for election to the Board;

� committee assignments;

� the form and amount of director compensation;

� the performance evaluation of our CEO and management succession planning; and

� the annual Board and Committee performance evaluations.

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While the Governance Committee has not specified minimum qualifications for candidates it recommends, it will consider the qualifications, skills, expertise, qualities, diversity, age, gender, availability and experience of all candidates that are presented for consideration. At the present time, two of our ten directors are women. The Board utilizes a concept of diversity that extends beyond race, gender and national origin to encompass the viewpoints, professional experience and other individual qualities and attributes of candidates that will enable the Board to select candidates who are best able to carry out the Board’s responsibilities and complement the mix of talent and experience represented on the Board. In connection with its annual evaluation, the Board considers the appropriateness of the qualifications of existing directors given then current needs.

Candidates for Board nomination may be brought to the attention of the Governance Committee by current Board members, management, stockholders or other persons. All potential new candidates are fully evaluated by the Governance Committee using the criteria described above, and then considered by the entire Board for nomination.

Director Candidates submitted by Stockholders: Stockholders wishing to recommend director candidates for consideration by the Governance Committee may do so by writing to the Chairman of the Governance/Nominating Committee, c/o Corporate Secretary, Gartner, Inc., 56 Top Gallant Road, P.O. Box 10212, Stamford, CT 06904-2212, and indicating the recommended candidate’s name, biographical data, professional experience and any other qualifications. In addition, stockholders wishing to propose candidates for election must follow our advance notice provisions. See Process for Submission of Stockholder Proposals for our 2018 Annual Meeting on page 47. Code of Ethics and Code of Conduct Gartner has adopted a CEO & CFO Code of Ethics which applies to our CEO, CFO, controller and other financial managers, and a Global Code of Conduct, which applies to all Gartner officers, directors and employees, wherever located. Annually, each officer, director and employee affirms compliance with the Global Code of Conduct. See Miscellaneous—Available Information below.

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PROPOSAL ONE:

ELECTION OF DIRECTORS Nominees for Election to the Board of Directors Our Board, acting through the Governance Committee, is responsible for presenting for stockholder consideration each year a group of nominees that, taken together, has the experience, qualifications, attributes and skills appropriate and necessary to carry out the duties and responsibilities of, and to function effectively as, the board of directors of Gartner. The Governance Committee regularly reviews the composition of the board in light of the needs of the Company, its assessment of board and committee performance, and the input of stockholders and other key stakeholders. The Governance Committee looks for certain common characteristics in all nominees, including integrity, strong professional experience and reputation, a record of achievement, constructive and collegial personal attributes and the ability and commitment to devote sufficient time and effort to board service. In addition, the Governance Committee seeks to include on the board a complementary mix of individuals with diverse backgrounds and skills that will enable the board as a whole to effectively manage the array of issues it will confront in furtherance of its duties. These individual qualities can include matters such as experience in the technology industry; experience managing and operating large public companies; international operating experience; financial, accounting, executive compensation and capital markets expertise; and leadership skills and experience. All of the nominees listed below are incumbent directors who have been nominated by the Governance Committee and Board for re-election, and have agreed to serve another term. For additional information about the nominees and their qualifications, please see General Information about Our Board of Directors on page 5 above. If any nominee is unable or declines unexpectedly to stand for election as a director at the Annual Meeting, proxies may be voted for a nominee designated by the present Board to fill the vacancy. Each person elected as a director will continue to be a director until the 2018 Annual Meeting of Stockholders or a successor has been elected.

Michael J. Bingle Anne Sutherland Fuchs Peter E. Bisson William O. Grabe

Richard J. Bressler Eugene A. Hall Raul E. Cesan Stephen G. Pagliuca

Karen E. Dykstra James C. Smith

RECOMMENDATION OF OUR BOARD

Our Board unanimously recommends that you vote FOR management’s ten nominees for election to the Board of Directors.

______________________

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EXECUTIVE OFFICERS

General Information About our Current Executive Officers: Eugene A. Hall 60

Chief Executive Officer and director since 2004. Prior to joining Gartner, he was a senior executive at Automatic Data Processing, Inc., a Fortune 500 global technology and services company, serving most recently as President, Employers Services Major Accounts Division, a provider of human resources and payroll services. Prior to joining ADP in 1998, Mr. Hall spent 16 years at McKinsey & Company, most recently as Director.

Ken Davis 48

Senior Vice President, Business and IT Leaders, Products & Services since 2008. Previously at Gartner, he has served as Senior Vice President, End User Programs, High Tech & Telecom Programs, and Strategy, Marketing and Business Development. Prior to joining Gartner in 2005, Mr. Davis spent ten years at McKinsey & Company, where he was a partner assisting clients in the IT industry.

Alwyn Dawkins 50

Senior Vice President, Worldwide Events & Marketing since 2008. Previously at Gartner, he has served as Group Vice President, Asia/Pacific Sales, based in Sydney, Australia, and prior thereto, as Group Vice President, Gartner Events, where he held global responsibility for exhibit and sponsorship sales across the portfolio of Gartner events. Prior to joining Gartner in 2002, Mr. Dawkins spent ten years at Richmond Events, culminating in his role as Executive Vice President responsible for its North American business.

Mike Diliberto, 51 Senior Vice President & Chief Information Officer since 2016. Previously, he served as CIO at Priceline, a leader in online travel and related services. Before joining Priceline, he held several senior technology positions at the online division of News Corp, where he was instrumental in establishing an online presence for News Corp brands such as Fox News, Fox Sports, TV Guide and Sky Sports, including launching the first major league baseball website. Previously, he held several leadership positions at Prodigy Services Company, one of the pioneering consumer-focused online services.

David Godfrey 45

Senior Vice President, Worldwide Sales since 2010. Previously at Gartner, he led North American field sales, and prior to this role, he led the Europe, Middle East and Africa (EMEA) and the Americas inside sales organizations. Before joining Gartner in 1999 as a sales executive, Mr. Godfrey spent seven years in business development at Exxon Mobil.

Robin Kranich 46

Senior Vice President, Human Resources since 2008. During her 22 years at Gartner, she has served as Senior Vice President, End User Programs; Senior Vice President, Research Operations and Business Development; Senior Vice President and General Manager of Gartner EXP; Vice President and Chief of Staff to Gartner’s president; and various sales and sales management roles. Prior to joining Gartner, Ms. Kranich was part of the Technology Advancement Group at Marriott International.

David McVeigh 47

Senior Vice President, New Markets Programs since August 2015. Prior to joining Gartner, he was a managing director at Hellman & Friedman LLC, an operating partner at Blackstone Group and a partner at McKinsey & Company.

Daniel S. Peale 44

Senior Vice President, General Counsel & Corporate Secretary since January 2016. Prior to joining Gartner in October 2015, he was a corporate and securities partner with the law firm of Wilson Sonsini Goodrich & Rosati in Washington, D.C., where he was in private practice for 15 years.

Craig W. Safian 48

Senior Vice President & Chief Financial Officer since June 2014. In his 14 years at Gartner, he has served as Group Vice President, Global Finance and Strategy & Business Development from 2007 until his appointment as CFO, and previously as Group Vice President, Strategy and Managing Vice President, Financial Planning and Analysis. Prior to joining Gartner, he held finance positions at Headstrong (now part of Genpact) and Bristol-Myers Squibb, and was an accountant for Friedman, LLP where he achieved CPA licensure.

Peter Sondergaard 52

Senior Vice President, Research since 2004. During his 28 years at Gartner, he has held various roles, including Head of Research for the Technology & Services Sector, Hardware & Systems Sector, Vice President and General Manager for Gartner Research EMEA. Prior to joining Gartner, Mr. Sondergaard was research director at International Data Corporation in Europe.

Chris Thomas 45

Senior Vice President, Executive Programs since April 2013. During his 15 years at Gartner, he has held various roles, including Group Vice President, Sales, leading the Americas IT, Digital Marketing and Global Supply Chain sales group; head of North America and Europe, Middle East and Africa (EMEA) Small and Medium Business sales organizations, and a number of other roles, including sales operations and field sales leadership. Before joining Gartner, he spent seven years in procurement, sales and marketing at Exxon Mobil.

Per Anders Waern 55

Senior Vice President, Gartner Consulting since 2008. Since joining Gartner in 1998, he has held senior consulting roles principally in EMEA, and served most recently as head of Gartner’s global core consulting team. Prior to joining Gartner, Mr. Waern led corporate IT strategy at Vattenfall in Sweden.

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COMPENSATION DISCUSSION & ANALYSIS This Compensation Discussion & Analysis, or “CD&A”, describes and explains the Company’s compensation philosophy and executive compensation program, as well as compensation awarded to and earned by, the following persons who were Named Executive Officers (“NEOs”) in 2016:

Eugene A. Hall Chief Executive Officer Craig W. Safian Senior Vice President & Chief Financial Officer Per Anders Waern Senior Vice President, Gartner Consulting David Godfrey Senior Vice President, Sales Alwyn Dawkins Senior Vice President, Events

The CD&A is organized into three sections:

� The Executive Summary, which highlights the importance of our Contract Value (herein “CV”) metric, our 2016 corporate performance and our pay-for-performance approach and our compensation practices, all of which we believe are relevant to stockholders as they consider their votes on Proposal Two (advisory vote on executive compensation, or “Say-on-Pay”)

� The Compensation Setting Process for 2016

� Other Compensation Policies and Information

The CD&A is followed by the Compensation Tables and Narrative Disclosures, which report and describe the compensation and benefit amounts paid to our NEOs in 2016.

EXECUTIVE SUMMARY

Contract Value – A Unique Key Performance Metric for Gartner Unique to the business of Gartner, Contract Value is our single most important performance metric. It focuses all of our executives on driving both short-term and long - term success for our business and stockholders.

Contract Value = Both Short-Term and Long-Term Measures of Success

Short-Term � Measures the value of all subscription research contracts in effect at a specific point in time

Long-Term � Measures revenue that is highly likely to recur over a multi-year period

Comparing CV year over year measures the short term growth of our business. More importantly, CV is also an appropriate measure of long – term performance due to the nature of our Research subscription business. Our Research business is our largest business segment (75% of 2016 gross revenues) with our highest margins (69% for 2016). Our Research enterprise client retention (84% in 2016) and retained contract value (104% client enterprise wallet – or spend - retention in 2016) are consistently very high. The combination of annual contracts and high renewal rates are predictive of revenue highly likely to recur over a 3 – 5 year period. Accordingly, growing CV drives both short- term and long – term corporate performance and shareholder value due to these unique circumstances. As such, all Gartner executives and associates are focused at all times on growing CV. This, coupled with the fact that our investors are also focused on this metric, ensures that we are aligned on the long - term success of the Company.

Total Contract Value (“CV”) represents the value attributable to all of our subscription-related contracts. It is calculated as the annualized value of contracts in effect at a specific point in time, without regard to the

duration of the contract. CV primarily includes research deliverables for which revenue is recognized on a ratable basis, and, commencing in 2016, includes other deliverables (primarily events tickets) for which

revenue is recognized when the deliverable is utilized.

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Record 2016 Performance 2016 was another year of record achievements for Gartner:

� CV, Revenue, EBITDA* and EPS* grew 14%, 14%, 10% and 24%, respectively, excluding the impact of foreign exchange where applicable

� CV and Revenues ended the year at a record $1.93 billion and $2.44 billion, respectively

� Five year CAGR for CV, EBITDA and EPS was 12%, 10% and 16%, respectively

� Our Common Stock rose 11.4% in 2016, as compared to the S&P 500, which rose 9.5%, and NASDAQ Total Return, which rose 7.5%

� Compound annual growth rates on our common stock were 11%, 12% and 24% on a 1, 3 and 5 year basis, out-performing the S&P 500 and NASDAQ Total Return indices for the corresponding periods

*In this Proxy Statement, EBITDA refers to Normalized EBITDA, which represents operating income excluding depreciation, accretion on obligations related to excess facilities, amortization, stock-based compensation expense and acquisition-related adjustments. EPS refers to diluted EPS excluding acquisition adjustments. Gartner 2016 Performance Charts (CV and EBITDA $ in millions) The laser focus throughout our global organization on growing CV has resulted in a strong, sustained track record of growth across this measure, as well as EBITDA and EPS, over many years, as the following charts demonstrate.

$3.00

$2.50

$2.00

$1.50

$1.00

$0.50

$0.00

Contract Value

EBITDA

EPS

2,000

1,800

1,6001,4001,200

1,000

800

600

400

200

02016

1,930

500

400

300

200

100

02012

315

2013

345

2014

386

2016

457

2015

408

$0.96

2016

$2.96

2015

$2.39

5-year CAGR = 12%

5-year CAGR = 10%

5-year CAGR = 16%

2014

1,603

2013

1,423

2012

1,263

2011

1,116

2015

1,761

2014

$2.24

2013

$1.97

2012

$1.78

2011

$1.39

2011

279

($ in millions)

($ in millions)

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These strong results have fueled stock price growth which leads all comparison groups as follows:

Key Attribute of our Executive Compensation Program – Pay for Performance

Our executive compensation plan design has successfully motivated senior management to drive outstanding corporate performance since it was first implemented in 2006. It is heavily weighted towards incentive compensation. Its key features are as follows:

� 100% of executive equity awards and executive bonus awards are performance-based.

� 70% of our executive equity awards, and 100% of our executive bonus awards are subject to forfeiture in the event the Company fails to achieve performance objectives established by our Compensation Committee.

� 91% percent of our CEO’s target total compensation (77% in the case of our other NEOs) is in the form of incentive compensation (bonus and equity awards).

� 81% of our CEO’s target total compensation (61% in the case of our other NEOs) is in the form of equity awards.

� Earned equity awards may increase or decrease in value based upon stock price movement during the vesting period.

5 year CAGR: Gartner – 24% Proxy Peers – 17% NASDAQ – 16% S&P – 12%

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Our Compensation Best Practices

Our compensation practices motivate our executives to achieve our operating plans and execute our corporate strategy without taking undue risks. These practices, which are consistent with “best practices” trends, include the following:

� We have an independent Compensation Committee.

� We have an independent compensation consultant that reports directly to the Compensation Committee.

� We annually assess the Company’s compensation policies to ensure that the features of our program do not encourage undue risk.

� All executive officers are “at will” employees and only our CEO has an employment agreement.

� We have a clawback policy applicable to all executive incentive compensation (cash bonus and equity awards).

� We have robust stock ownership guidelines for our directors and executive officers.

� We have holding period requirements that require 50% of net after tax shares from all released equity awards to be held by a director or executive officer until stock ownership guidelines are satisfied.

� We prohibit hedging and pledging transactions in company securities.

� We do not provide excise tax gross up payments.

� We encourage retention by having equity awards are earned and vest 25% per year over 4 years, commencing on the grant date anniversary.

� The potential annual payout on incentive compensation elements is limited to 2 times target.

� Our equity plan prohibits: o less than a 12 month minimum vesting period on equity awards o repricing stock options and surrendering outstanding options for new options with a lower

exercise price without stockholder approval; o cash buyouts of underwater options or stock appreciation rights without stockholder approval; and o granting options or stock appreciation rights with an exercise price less than the fair market value

of the Company’s common stock on the date of grant.

� We do not grant equity awards during closed trading windows.

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COMPENSATION SETTING PROCESS FOR 2016 This discussion explains the objectives of the Company’s compensation policies; what the compensation program is designed to reward; each element of compensation and why the Company chooses to pay each element; how the Company determines the amount (and, where applicable, the formula) for each element to pay; and how each compensation element and the Company’s decisions regarding that element fit into the Company’s overall compensation objectives and affect decisions regarding other elements. The Objectives of the Company’s Compensation Policies

The objectives of our compensation policies are threefold:

� to attract, motivate and retain highly talented, creative and entrepreneurial individuals by paying market-based compensation;

� to motivate our executives to maximize the performance of our Company through pay-for-performance compensation components based on the achievement of corporate performance targets that are aggressive, but attainable, given economic conditions; and

� to ensure that, as a public company, our compensation structure and levels are reasonable from a stockholder perspective.

What the Compensation Program Is Designed to Reward Our guiding philosophy is that the more executive compensation is linked to corporate performance, the stronger the inducement is for management to strive to improve Gartner’s performance. In addition, we believe that the design of the total compensation package must be competitive with the marketplace from which we hire our executive talent in order to achieve our objectives and attract and retain individuals who are critical to our long-term success. Our compensation program for executive officers is designed to compensate individuals for achieving and exceeding corporate performance objectives. We believe this type of compensation encourages outstanding team performance (not simply individual performance), which builds stockholder value.

Both short-term and long-term incentive compensation is earned by executives only upon the achievement by the Company of certain measurable performance objectives that are deemed by the Compensation Committee and management to be critical to the Company’s short-term and long-term success. The amount of compensation ultimately earned will increase or decrease depending upon Company performance and the underlying price of our Common Stock (in the case of long-term incentive compensation).

Principal Compensation Elements and Objectives

To achieve the objectives noted above, we have designed executive compensation to consist of three principal elements: Base Salary � Pay competitive salaries to attract and retain the executive talent necessary

to develop and implement our corporate strategy and business plan � Appropriately reflect responsibilities of the position, experience of the

executive and marketplace in which we compete for talent Short-Term Incentive Compensation (cash bonuses)

� Motivate executives to generate outstanding performance and achieve or exceed annual operating plan

� Align compensation with results

Long-Term Incentive Compensation (equity awards)

� Induce enhanced performance and promote retention � Align executive rewards with long-term stock price appreciation � Make executives stakeholders in the success of Gartner and thereby create

alignment with stockholders

How the Company Determines Executive Compensation In General The Company set aggressive performance goals in planning 2016 executive compensation. In order for our executives to earn target compensation, the Company needed to exceed double digit growth in two key performance metrics, as discussed below.

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The Compensation Committee established performance objectives for short-term (bonus) and long-term (equity) incentive awards at levels that it believed would motivate performance and be adequately challenging. The target performance objectives were intended to compel the level of performance necessary to enable the Company to achieve its operating plan for 2016.

As in prior years, the short- and long-term incentive compensation elements provided executives with opportunities to increase their total compensation package based upon the over-achievement of corporate performance objectives; similarly, in the case of under-achievement of corporate performance objectives, the value of these incentive elements would fall below their target value (with the possibility of total forfeiture of the short-term element and 70% of the long-term element), and total compensation would decrease correspondingly. We assigned greater weight to the long-term incentive compensation element, as compared to the salary and short-term elements, in order to promote long-term decision-making that would deliver top corporate performance, align management to stockholder interests and retain executives. We believe that long-term awards with vesting terms that are based on the achievement of pre-set financial targets serve as a strong retention incentive.

Salary, short-term and long-term incentive compensation levels for executive officers (other than the CEO) are recommended by the CEO and are subject to approval by the Compensation Committee. In formulating his recommendation to the Compensation Committee, the CEO undertakes a performance review of these executives and considers input from human resources personnel at the Company, as well as benchmarking data from the compensation consultant and external market data (discussed below).

Salary, short-term and long-term incentive compensation levels for the CEO’s compensation are established by the Compensation Committee within the parameters of Mr. Hall’s employment agreement with the Company. In making its determination with respect to Mr. Hall’s compensation, the Compensation Committee evaluates his performance in conjunction with the Governance Committee and after soliciting additional input from the Chairman of the Board and other directors; considers input from the Committee’s compensation consultant; and reviews benchmarking data pertaining to CEO compensation practices at our proxy peer companies and general trends. See Employment Agreements with Executive Officers – Mr. Hall below for a detailed discussion of Mr. Hall’s agreement. Effect of Stockholder Advisory Vote on Executive Compensation, or Say on Pay The Board has resolved to present Say on Pay proposals to stockholders on an annual basis, respecting the sentiment of our stockholders as expressed in 2011. This year, we are asking our stockholders once again to indicate their preference for the frequency of Say on Pay proposals; however, the Company is committed to annual Say on Pay proposals. The Company and the Compensation Committee will consider the results on this year’s advisory Say on Pay proposal in future executive compensation planning activities. Over the past several years, stockholders have consistently strongly supported our executive compensation program. Benchmarking and Peer Group Executive compensation planning for 2016 began mid-year in 2015. Our Compensation Committee commissioned Exequity, an independent compensation consultant, to perform a competitive analysis of our executive compensation practices (the “ Compensation Study”). Exequity’s findings were considered by the Compensation Committee and by management in planning our 2016 executive compensation program. The Compensation Study utilized market data provided by Aon Hewitt pertaining to 2015 compensation paid to individuals occupying senior executive positions at Gartner’s selected peer group of companies for executive compensation benchmarking purposes (the “Peer Group”).

The Compensation Committee reviews the Peer Group annually to ensure comparability based on Gartner’s operating characteristics, labor market relevance and defensibility. The 2016 competitive analysis compared Gartner’s target compensation to the Peer Group. The Peer Group comprised 14 publicly-traded high tech companies that resemble Gartner in size (in terms of revenues and number of employees), have a similar business model and with whom Gartner competes for executive talent. Gartner ranked at the 36th percentile in revenues and 43rd percentile in market cap relative to the Peer Group. Peer Group companies included:

Adobe Systems Incorporated Intuit Inc. Autodesk, Inc. Moody’s Corporation Cadence Design Systems, Inc. Nuance Communications, Inc. Citrix Systems, Inc. PTC Inc.

The Dun & Bradstreet Corporation salesforce.com, inc Equifax Inc. Synopsys, Inc. IHS Markit Ltd Verisign, Inc.

2016 Say on Pay Approval = 93.5% of shares voted, and 88.2% of outstanding shares

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Management and the Compensation Committee concluded that the Peer Group, which remained unchanged from the prior year with the exception of the removal of three companies that no longer reported due to acquisitions or privatization, was appropriate for 2016 executive compensation planning purposes given their continued comparability to Gartner. The Compensation Committee does not target NEO’s pay to a specified percentile, but rather reviews Peer Group market data at the 25th, 50th and 75th percentile for each element of compensation, including Base Salary, Target Total Cash (Base Salary, plus Target Bonus) and Target Total Compensation (Target Total Cash plus long-term incentives).

The result of the competitive analysis indicated that Gartner’s CEO and NEO Base Salary approximated the Peer Group median, Target Total Cash was below the Peer Group median and Target Total Compensation approximated the median of the Peer Group. As a result, in order to remain competitive in the market place and in light of Gartner’s philosophy to pay a greater percentage of total compensation in the form of performance-based compensation and, in particular, performance-based long-term incentive compensation, the Committee approved a 3% merit increase to base salary, a 5% increase in the short term incentive compensation (bonus) percentage and a 8% merit increase to the long-term incentive compensation award value for all NEOs (other than Mr. Safian). Mr. Safian is relatively new in his role of CFO, and as a result trailed the market median of the Peer Group in all elements of compensation, consistent with the Company’s philosophy of moving executives to fully competitive rates over two to three years. As such, in 2016 the Committee adjusted his compensation to more closely approximate the Peer Group median by increasing his base salary by 10%, increasing his bonus target by 5% and increasing his long-term incentive award by 18.6%.

In addition, the Compensation Committee annually reviews an analysis conducted by Exequity that evaluates the connection between Gartner’s executive pay and Company performance as measured by Total Shareholder Return and Shareholder Value against the relationship exhibited by Gartner’s peer companies. The analysis indicates that pay realized by Gartner’s NEOs is generally well aligned with proven financial results. Gartner has historically performed above its peer group median and has paid at or above median total compensation which is consistent with the Company’s pay-for-performance philosophy. Executive Compensation Elements Generally Pay Mix The following pie charts illustrate the relative mix of target compensation elements for the NEOs in 2016. Long-term incentive compensation consists of performance-based restricted stock units (PSUs) and stock appreciation rights (SARs), and represents a majority of the compensation we pay to our NEOs – 81% to the CEO and 60% to all other NEOs. We allocate more heavily to long-term incentive compensation because we believe that it contributes to a greater degree to the delivery of top performance and the retention of employees than does cash and short-term compensation (bonus).

CEO ALL OTHER NEOs Base Salary We set base salaries of executive officers when they join the Company or are promoted to an executive role, by evaluating the responsibilities of the position, the experience of the individual and the marketplace in which we compete for the executive talent we need. In addition, where possible, we consider salary information for comparable positions for members of our Peer Group or other available benchmarking data. In determining whether to award salary merit increases, we consider published projected U.S. salary increase data for the technology industry and general market, as well as available world-wide salary increase data. Mr. Hall’s salary

Salary 9%

Bonus 10%

SAR24%

PRSU57%

Salary23%

Bonus16%

SAR18%

PRSU43%

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increase is established each year by the Compensation Committee after completion of Mr. Hall’s performance evaluation for the preceding year. Short-Term Incentive Compensation (Cash Bonuses) All bonuses to executive officers are awarded pursuant to Gartner’s stockholder-approved Executive Performance Bonus Plan. This plan is designed to motivate executive officers to achieve goals relating to the performance of Gartner, its subsidiaries or business units, or other objectively determinable goals, and to reward them when those objectives are satisfied. We believe that the relationship between proven performance and the amount of short-term incentive compensation paid promotes, among executives, decision-making that increases stockholder value and promotes Gartner’s success. Bonuses awarded under this plan to eligible employees are designed to qualify as deductible performance-based compensation within the meaning of Code Section 162(m).

In 2016, bonus targets for all executive officers, including Mr. Hall, were based solely upon achievement of 2016 company-wide financial performance objectives (with no individual performance component). The financial objectives and weightings used for 2016 executive officer bonuses were:

� 2016 Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA), which measures overall profitability from business operations (weighted 50%), on a foreign exchange neutral basis, and

� Contract Value (CV) at December 31, 2016, which measures the long–term prospects of our business (weighted 50%), on a foreign exchange neutral basis.

As noted earlier, management and our Compensation Committee continue to believe that EBITDA and CV are the most significant measurements of profitability and long-term business growth for our Company, respectively. They have been successfully used for several years as performance metrics applicable to short-term incentive compensation that drive business performance and that motivate executive officers to achieve outstanding performance.

For 2016, each executive officer was assigned a bonus target that was expressed as a percentage of salary, varied from 50% to 105% of salary depending upon the executive’s level of responsibility and in most cases was 5% greater than the previous year. Salaries and bonuses were each increased by the amount of the merit increase. With respect to our NEOs, 2016 bonus targets, as a percentage of base salary, were 105% for Mr. Hall and 70% for each of Messrs. Safian, Waern, Godfrey and Dawkins. The maximum payout for 2016 bonus was 200% of target if the maximum level of EBITDA and CV were achieved; the minimum payout was $0 if minimum levels were not achieved.

The chart below describes the performance metrics applicable to our 2016 short–term incentive compensation element. As noted above, for this purpose actual results, measured on a foreign exchange neutral basis, were as follows:

2016 Performance Objective/ Weight

Target (100%)

Target Growth

YOY

< Minimum (0%)

=/> Maximum

(200%)

Actual (measured at 12/31/16)

Payout (% of

Target)

Actual Growth

YOY

2016 EBITDA/50% $458

million 13.6% $363 million $480 million $446 million 90.3% 10.7%

12/31/16 Contract Value/50%

$1,884 million

11% $1,527 million $1,969 million $1,930 million 162.0% 13.7%

In 2016, the Company exceeded the CV target performance objective, but fell slightly short of the EBITDA performance objective. Since each objective was weighted 50%, based on these results, the Compensation Committee determined that earned cash bonuses for executive officers were 126.2% of target bonus amounts. These bonuses were paid in February 2017. See Summary Compensation Table – Non-Equity Incentive Plan Compensation for the amount of cash bonuses earned by our Named Executive Officers in 2016. While the Compensation Committee has discretion to eliminate or reduce a bonus award, it did not take any such action in 2016. Long - Term Incentive Compensation (Equity Awards) Promoting stock ownership is a key element of our compensation program philosophy. Stock-based incentive compensation awards –especially when they are assigned a combination of performance and time-based vesting criteria – induce enhanced performance, promote retention of executive officers and align executives’ personal rewards with long-term stock price appreciation, thereby integrating management and stockholder interests. We have evaluated different types of long-term incentives based on their motivational value, cost to the Company and appropriate share utilization under our stockholder-approved 2014 Long-Term Incentive

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Plan (“2014 Plan”) and have determined that stock-settled stock appreciation rights (“SARs”) and performance-based restricted stock units (“PSUs”) create the right balance of motivation, retention, alignment with stockholders and share utilization.

SARs permit executives to benefit from an increase in stock price over time. SAR value can be realized only after the SAR vests. Our SARs are stock-settled and may be exercised seven years from grant. When the SAR is exercised, the executive receives shares of our Common Stock equal in value to the aggregate appreciation in the price of our Common Stock from the date of grant to the exercise date for all SARs exercised. Therefore, SARs only have value to the extent the price of our Common Stock exceeds the grant price of the SAR. In this way, SARs motivate our executives to increase stockholder value and thus align their interests with those of our stockholders.

PSUs offer executives the opportunity to receive our Common Stock contingent on the achievement of performance goals and continued service over the vesting period. PSU recipients are eligible to earn a target fixed number of restricted stock units if and to the extent stipulated one-year performance goals are achieved. They can earn more units if the Company over-performs (up to 200% of their target number of units), and they will earn fewer units (and potentially none) if the Company under-performs. PSUs encourage executives to increase stockholder value while promoting executive retention over the long-term. Released shares have value even if our Common Stock price does not increase, which is not the case with SARs.

Consistent with weightings in prior years, 30% of each executive’s long-term incentive compensation award value was granted in SARs and 70% was granted in PSUs. PSUs deliver value utilizing fewer shares since the executive can earn the full share rather than just the appreciation in value over the grant price (as is the case with SARs). Additionally, the cost efficiency of PSUs enhances the Company’s ability to conservatively utilize the Plan share pool, which is why we convey a larger portion of the 2014 overall long-term incentive compensation value in PSUs rather than in SARs. For purposes of determining the number of SARs awarded, the allocated SAR award value is divided by the Black-Scholes-Merton valuation on the date of grant using assumptions appropriate on that date. For purposes of determining the target number of PSUs awarded, the allocated target PSU award value is divided by the closing price of our Common Stock on the date of grant as reported by the New York Stock Exchange.

Both SARs and PSUs are earned, vest and release 25% per year commencing one (1) year from grant and on each anniversary thereof, subject to continued service on the vesting date. We believe that this vesting schedule effectively focuses our executives on delivering long-term value growth for our stockholders and drives retention. The maximum payout for 2016 PSUs was 200% of target if the maximum level of CV was achieved; the PSUs are subject to forfeiture if minimum levels are not achieved.

The Compensation Committee approved CV (measured at December 31, 2016) as the performance measure underlying PSUs awarded in 2016. As noted earlier, we continue to believe that CV is the best performance metric to measure the long–term prospects of our business because it is predictive of future revenue.

The chart below describes the performance metrics applicable to the PSU portion of our 2016 long–term incentive compensation element measured on a foreign exchange neutral basis:

2016 Performance Objective/Weight

Target (100%)

Target Growth

YOY

<Minimum (0%)

Maximum (200%)

Actual (measured at

12/31/16)

Payout (% of

Target)

Actual Growth

YOY

Contract Value/100% $1,884 million

11% $1,527 million

$1,969 million

$1,930 million 162.0% 13.7%

As noted above, in 2016 actual CV was $1,930 million, exceeding the target amount. Based on this, the Compensation Committee determined that 162.0% of the target number of PSUs would be awarded. The PSUs were adjusted by this factor in February 2017 after certification of the achievement of this performance measure by the Compensation Committee, and 25% of the adjusted awards vested on the first anniversary of the grant date. See Grants of Plan-Based Awards Table – Possible Payouts Under Equity Incentive Plan Awards and accompanying footnotes below for the actual number of SARs and PSUs awarded to our Named Executive Officers in 2016.

No performance objectives for any PSU intended to qualify under Code Section 162(m) (i.e., awards to executive officers) may be modified by the Committee. While the Committee does have discretion to modify other aspects of the awards (subject to the terms of the Plan), no modifications were made in 2016.

Additional Compensation Elements

We maintain a non-qualified deferred compensation plan for our highly compensated employees, including our executive officers, to assist eligible participants with retirement and tax planning by allowing them to defer compensation in excess of amounts permitted

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to be deferred under our 401(k) plan. This plan allows eligible participants to defer up to 50% of base salary and/or 100% of bonus to a future period. In addition, as a further inducement to participation in this plan, the Company presently matches contributions by executive officers, subject to certain limits. For more information concerning this plan, see Non-Qualified Deferred Compensation Table and accompanying narrative and footnotes below.

In order to further achieve our objective of providing a competitive compensation package with great retention value, we provide various other benefits to our executive officers that we believe are typically available to, and expected by, persons in senior business roles. Our basic executive perquisites program includes 35 days paid time off (PTO) annually, severance and change in control benefits (discussed below) and relocation services where necessary due to a promotion. Mr. Hall’s perquisites, severance and change in control benefits are governed by his employment agreement with the Company, which is discussed in detail below under Employment Agreements With Executive Officers – Mr. Hall. For more information concerning perquisites, see Other Compensation Table and accompanying footnotes below.

______________________

OTHER COMPENSATION POLICIES AND INFORMATION

Executive Stock Ownership and Holding Period Guidelines In order to align management and stockholder interests, the Company has adopted stock ownership guidelines for our executive officers as follows: the CEO is required to hold shares of Common Stock with a value at least equal to six (6) times his base salary, and all other executive officers are required to hold shares of Common Stock with a value at least equal to three (3) times their base salary. For purposes of computing the required holdings, officers may count shares directly held, as well as vested and unvested restricted stock units and PSUs, but not options or SARs. Additionally, the Company imposes a holding period requirement on our executive officers. If an executive officer of the Company is not in compliance with the stock ownership guidelines, the executive is required to maintain ownership of at least 50% of the net after-tax shares of common stock acquired from the Company pursuant to all equity-based awards received from the Company, until such individual’s stock ownership requirement is met. At December 31, 2016, our CEO and all other executive officers were in compliance with these guidelines. Clawback Policy The Company has adopted a clawback policy which provides that the Board of Directors (or a committee thereof) may seek recoupment to the Company from a current or former executive officer of the Company who engages in fraud, omission or intentional misconduct that results in a required restatement of any financial reporting under the securities or other laws, and that the cash-based or equity-based incentive compensation paid to the officer exceeds the amount that should have been paid based upon the corrected accounting restatement, resulting in an excess payment. Recoupment includes the reimbursement of any cash-based incentive compensation (bonuses) paid to the Executive, cancellation of vested and unvested performance-based restricted stock units, stock options and stock appreciation rights, and reimbursement of any gains realized on the sale of released stock unit awards and the exercise of stock options or stock appreciation rights and subsequent sale of underlying shares Pursuant to the Dodd-Frank Act, the SEC has issued proposed rules applicable to the national securities exchanges (including the NYSE on which our Common Stock is listed for trading) prohibiting the listing of any security of an issuer that does not provide for the recovery of erroneously awarded incentive-based compensation where there has been an accounting restatement. We are awaiting adoption of the final SEC rules on this matter, at which time we will determine whether an amendment to our policy is necessary. Hedging and Pledging Policies The Company’s Insider Trading Policy prohibits all executive officers and directors from engaging in any short selling, hedging and/or pledging transactions with respect to Company securities.

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Accounting and Tax Impact In setting compensation, the Compensation Committee and management consider the potential impact of Code Section 162(m), which precludes a public corporation from deducting on its corporate income tax return individual compensation in excess of $1 million for its chief executive officer or any of its three other highest-paid officers (other than the chief financial officer). Section 162(m) also provides for certain exemptions to this limitation, specifically compensation that is performance-based (within the meaning of Section 162(m)) and issued under a stockholder-approved plan. Our 2016 short-term incentive (bonus) awards were performance-based and were made pursuant to our stockholder-approved Executive Performance Bonus Plan and, therefore, are deductible under Section 162(m). The PSU component of the 2016 long–term incentive award was performance-based and issued under the 2014 Plan, which has been approved by stockholders and, therefore, is deductible under Section 162(m). Although the Compensation Committee endeavors to maximize deductibility of compensation under Section 162(m), it maintains the discretion in establishing compensation elements to approve compensation that may not be deductible under Section 162(m), if the Committee believes the compensation element to be necessary or appropriate under the circumstances. Grant of Equity Awards The Board of Directors has a formal policy with respect to the grant of equity awards under our equity plans. Under our 2014 Long Term Incentive Plan, equity awards may include stock options, stock appreciation rights (SARs), restricted stock awards (RSAs), restricted stock units (RSUs) and performance-based restricted stock units (PSUs). The Committee may not delegate its authority with respect to Section 16 persons, nor in any other way which would jeopardize the plan’s qualification under Code Section 162(m) or Exchange Act Rule 16b-3. Accordingly, our policy specifies that all awards to our Section 16 executive officers must be approved by the Compensation Committee on or prior to the award grant date, and that all such awards will be made and priced on the date of Compensation Committee approval, except in the case of new hires, which is discussed below. Our equity plan provides for a minimum vesting period of 12 months on all equity awards, subject to certain limited exceptions. It also prohibits the repricing of stock options and the surrender of any outstanding option to the Company as consideration for the grant of a new option with a lower exercise price without stockholder approval. It also prohibits the granting of options with an exercise price less than the fair market value of the Company’s common stock on the date of grant, and a cash buyout of out-of-the-money options or SARs without stockholder approval. Consistent with the equity plan, the Compensation Committee annually approves a delegation of authority to the CEO to make equity awards under our equity Plan to Gartner employees (other than Section 16 reporting persons) on account of new hires, retention or promotion without the approval of the Compensation Committee. In 2016, the delegation of authority specified a maximum grant date award value of $500,000 per individual, and a maximum aggregate grant date award value of $2,000,000 for the calendar year. For purposes of this computation, in the case of RSAs, RSUs and PSUs, value is calculated based upon the fair market value (defined as the closing price on the date of grant as reported by the New York Stock Exchange) of a share of our Common Stock, multiplied by the number of RSAs, RSUs or PSUs awarded. In the case of options and SARs, the grant date value of the award will be the Black-Scholes-Merton calculation of the value of the award using assumptions appropriate on the award date. Any awards made under the CEO-delegated authority are reported to the Compensation Committee at the next regularly scheduled committee meeting.

As discussed above, the structure and value of annual long-term incentive awards comprising the long-term incentive compensation element of our compensation package to executive officers are established and approved by the Compensation Committee in the first quarter of each year. The specific terms of the awards (number of PSUs and SARs and related performance criteria) are determined, and the awards are approved and made, on the same date and after the release of the Company’s prior year financial results.

It is the Company’s policy not to make equity awards to executive officers prior to the release of material non-public information. The 2016 incentive awards to executive officers were approved by the Compensation Committee and made on February 8, 2016, after release of our 2015 financial results. Generally speaking, awards for newly hired executives that are given as an inducement to joining the Company are made on the 15th or 30th day of the month first following the executive’s start date (and after approval by the Compensation Committee), and retention and promotion awards are made on the 15th or 30th day of the month first following the date of Compensation Committee approval; however, we may delay making these awards pending the release of material non-public information.

27

COMPENSATION COMMITTEE REPORT The Compensation Committee of the Board of Directors of Gartner, Inc. has reviewed and discussed the Compensation Discussion and Analysis with management. Based upon this review and discussion, the Compensation Committee recommended to the Board of Directors that the Compensation Discussion and Analysis be included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2016 and the Company’s proxy statement for the 2017 Annual Meeting of Stockholders.

Compensation Committee of the Board of Directors Anne Sutherland Fuchs Michael J. Bingle Raul E. Cesan

April 11, 2017

__________________

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COMPENSATION TABLES AND NARRATIVE DISCLOSURES

All compensation data contained in this Proxy Statement is stated in U.S. Dollars. Summary Compensation Table This table describes compensation earned by our CEO, CFO and next three most highly compensated executive officers (collectively, the “Named Executive Officers” or “NEOs”) in the years indicated. As you can see from the table and consistent with our compensation philosophy discussed above, long-term incentive compensation in the form of equity awards comprises a significant portion of total compensation.

Name and Principal Position Year

Base Salary

(1)

Stock Awards

(2)

Option Awards

(2)

Non-Equity Incentive Plan Compensation

(1), (3)

All Other Compensation

(4) Total Eugene A. Hall, Chief Executive Officer (PEO) (5) 2016 901,584 5,608,763 2,403,764 1,203,451 141,364 10,258,926

2015 875,324 5,193,290 2,225,705 1,215,044 135,844 9,645,207 2014 847,831 4,721,176 2,023,365 1,273,821 115,034 8,981,227

Craig W. Safian, SVP & Chief Financial Officer (PFO) 2016 503,260 999,949 428,561 454,951 54,712 2,441,433 2015 457,402 842,783 361,205 419,223 28,239 2,108,852 2014 409,869 949,977 - 321,216 11,349 1,692,411 Per Anders Waern, SVP, Gartner Consulting 2016 448,115 834,385 357,588 398,769 59,569 2,098,426 2015 435,063 772,577 331,090 392,545 50,480 1,981,755 2014 418,531 702,314 300,999 379,877 41,991 1,843,712 David Godfrey, SVP, Sales

2016 448,115 834,385 357,588 398,769 54,742 2,093,599 Alwyn Dawkins, SVP, Events

2016 448,115 834,385 357,588 398,769 54,065 2,092,922 2015 435,063 772,577 331,090 392,545 50,637 1,981,912 2014 418,531 702,314 300,999 379,877 41,571 1,843,292

(1) All NEOs elected to defer a portion of their 2016 salary and/or 2016 bonus under the Company’s Non-Qualified Deferred Compensation Plan. Amounts reported include the 2016 deferred portion, and accordingly does not include amounts, if any, released in 2016 from prior years’ deferrals. See Non-Qualified Deferred Compensation Table below.

(2) Represents the aggregate grant date fair value computed in accordance with FASB ASC Topic 718 for performance restricted stock units, or PSUs (Stock Awards) and stock-settled stock appreciation rights, or SARs (Option Awards) granted to Messrs. Hall, Safian, Waern, Godfrey and Dawkins. The value reported for the PSUs is based upon the probable outcome of the performance objective as of the grant date, which is consistent with the grant date estimate of the aggregate compensation cost to be recognized over the service period, excluding the effect of forfeitures, for the target grant date award value. The potential maximum value of the PSUs, assuming attainment of the highest level of the performance conditions, is 200% of the target value, and all PSUs and SARs are subject to forfeiture. There were no forfeitures in 2016. See also Note 8 – Stock-Based Compensation - in the Notes to Consolidated Financial Statements contained in our Annual Report on Form 10-K for the year ended December 31, 2016 for additional information.

(3) Represents performance-based cash bonuses earned at December 31 of the applicable year and paid in the following February. See footnote (1) to Grants of Plan-Based Awards Table below for additional information.

(4) See Other Compensation Table below for additional information.

(5) Mr. Hall is a party to an employment agreement with the Company. See Employment Agreements With Executive Officers – Mr. Hall below.

29

Other Compensation Table This table describes each component of the All Other Compensation column in the Summary Compensation Table.

Name Year

Company Match Under

Defined Contribution

Plans (1)

Company Match Under Non-qualified

Deferred Compensation

Plan (2)

Other (3) Total

Eugene A. Hall 2016 7,200 75,951 58,213 141,364 2015 7,200 78,766 49,878 135,844 2014 7,000 60,563 47,471 115,034

Craig W. Safian 2016 7,200 28,841 18,671 54,712 2015 7,200 11,096 9,943 28,239 2014 7,000 - 4,349 11,349

Per Anders Waern 2016 7,200 25,674 26,695 59,569 2015 7,200 25,398 17,882 50,480 2014 7,000 19,495 15,496 41,991

David Godfrey 2016 7,200 25,674 21,868 54,742 Alwyn Dawkins 2016 7,200 25,674 21,191 54,065 2015 7,200 25,398 18,039 50,637

2014 7,000 19,495 15,076 41,571

(1) Represents the Company’s 4% matching contribution in all years to the Named Executive Officer’s 401(k) account (subject to limitations).

(2) Represents the Company’s matching contribution to the executive’s contributions to our Non-Qualified Deferred Compensation Plan. See Non-Qualified Deferred Compensation Table below for additional information.

(3) In addition to specified perquisites and benefits, includes other perquisites and personal benefits provided to the executive, none of which individually exceeded the greater of $25,000 or 10% of the total amount of perquisites and personal benefits for the executive. In 2016, includes a car allowance of $29,204 received by Mr. Hall per the terms of his employment agreement.

_______________________________

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Grants of Plan-Based Awards Table This table provides information about awards made to our Named Executive Officers in 2016 pursuant to non-equity incentive plans (our short-term incentive cash bonus program) and equity incentive plans (performance restricted stock units (PSUs), restricted stock units (RSUs) and stock appreciation rights (SARs) awards comprising long-term incentive compensation under our 2014 Plan).

Possible Payouts Under Non-

Equity Incentive Plan Awards (1) Possible Payouts Under Equity

Incentive Plan Awards (2) Exercise or Base Price of Option

Awards ($/Sh) ($)(3)

Grant

Date Fair Value of

Stock and

Option Awards

($)(4) Name Grant

Date

Thresh- old ($)

Target ($)

Maximum ($)

Thresh-old (#)

Target (# )

Maximum (#)

Eugene A. Hall 2/8/16 - - - 0 70,057 PSUs 140,114 - 5,608,763 2/8/16 - - - - 145,703 SARs - 80.06 2,403,764 - 0 953,607 1,902,214 - - - - - Craig W. Safian 2/8/16 - - - 0 12,490 PSUs 24,980 - 999,949 2/8/16 - - - - 25,977 SARs - 80.06 428,561 - 0 360,500 721,000 - - - - - Per Anders Waern 2/8/16 - - - 0 10,422 PSUs 20,844 834,385 2/8/16 - - - - 21,675 SARs 80.06 357,588 - 0 315,981 631,962 - - - - - David Godfrey 2/8/16 - - - 0 10,422 PSUs 20,844 834,385 2/8/16 - - - - 21,675 SARs 80.06 357,588 - 0 315,981 631,962 - - - - -

Alwyn Dawkins 2/8/16 - - - 0 10,422 PSUs 20,844 834,385 2/8/16 - - - - 21,675 SARs 80.06 357,588 - 0 315,981 631,962 - - - - -

(1) Represents cash bonuses that could have been earned in 2016 based solely upon achievement of specified financial performance objectives for 2016 and ranging from 0% (threshold) to 200% (maximum) of target (100%). Bonus targets (expressed as a percentage of base salary) were 105% for Mr. Hall, and 70% for each of Messrs. Safian, Waern, Godfrey and Dawkins. Performance bonuses earned in 2016 and paid in February 2017 were adjusted to 126.2% of their target bonus and are reported under Non-Equity Incentive Plan Compensation in the Summary Compensation Table. See Short-Term Incentive Compensation (Cash Bonuses) in the CD&A for additional information.

(2) Represents the number of performance-based Restricted Stock Units (PSUs) and stock-settled Stock Appreciation Rights (SARs) awarded on February 8, 2016 under our 2014 Plan. The target number of PSUs (100%) originally awarded on that date was subject to adjustment ranging from 0% (threshold) to 200% (maximum) based solely upon achievement of an associated financial performance objective, and was adjusted to 162.0% of target in February 2017. The adjusted number of PSUs awarded was: Mr. Hall – 113,942; Mr. Safian – 20,233; and Messrs. Waern, Godfrey and Dawkins – 16,883). The PSUs and SARs vest 25% per year commencing one year from grant, subject to continued employment on the vesting date except in the case of death, disability and retirement. See Long-Term Incentive Compensation (Equity Awards) in the CD&A for additional information.

(3) Represents the closing price of our Common Stock on the New York Stock Exchange on the grant date.

(4) See footnote (2) to the Summary Compensation Table.

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Employment Agreements with Executive Officers Only our Chief Executive Officer, Mr. Hall, is a party to a long-term employment agreement with the Company. Mr. Hall – Employment Agreement The Company and Mr. Hall are parties to an Amended and Restated Employment Agreement pursuant to which Mr. Hall has agreed to serve as chief executive officer of the Company and is entitled to be nominated to the board of directors (the “CEO Agreement”) until December 31, 2021. The CEO Agreement provides for automatic one year renewals commencing on January 1, 2022, and continuing each year thereafter, unless either party provides the other with at least 60 days prior written notice of an intention not to extend the term.

Under the CEO Agreement, Mr. Hall is entitled to the following annual compensation components:

Component Description

Base Salary � $908,197, subject to adjustment on an annual basis by the Compensation Committee

Target Bonus � 105% of annual base salary (target), adjusted for achievement of specified Company and individual objectives

� The actual bonus paid may be higher or lower than target based upon over - or under - achievement of objectives, subject to a maximum actual bonus of 210% of base salary

Long – term incentive award

� Aggregate annual value on the date of grant at least equal to $9,874,375 minus the sum of base salary and target bonus for the year of grant (the “Annual Incentive Award”)

� The Annual Incentive Award will be 100% unvested on the date of grant, and vesting will depend upon the achievement of performance goals to be determined by the Compensation Committee

� The terms and conditions of each Annual Incentive Award will be determined by the Compensation Committee, and will be divided between restricted stock units (RSUs) and stock appreciation rights (SARs)

� The number of RSUs initially granted each year will be based upon the assumption that specified Company objectives set by the Compensation Committee will be achieved, and may be adjusted so as to be higher or lower than the number initially granted for over- or under- achievement of such specified Company objectives

Other � Car allowance

� All benefits provided to senior executives, executives and employees of the Company generally from time to time, including medical, dental, life insurance and long-term disability

� Entitled to be nominated for election to the Board

[rest of page left blank]

32

Termination and Related Payments – Mr. Hall Involuntary or Constructive Termination (no Change in Control) Mr. Hall’s employment is at will and may be terminated by him or us upon 60 days’ notice. If we terminate Mr. Hall’s employment involuntarily (other than within 24 months following a Change In Control (defined below)) and without Business Reasons (as defined in the CEO Agreement) or a Constructive Termination (as defined in the CEO Agreement) occurs, or if the Company elects not to renew the CEO Agreement upon its expiration and Mr. Hall terminates his employment within 90 days following the expiration of the CEO Agreement, then Mr. Hall will be entitled to receive the following benefits:


Base Salary

� accrued base salary and unused paid time off (“PTO”) through termination

� 36 months continued base salary paid pursuant to normal payroll schedule

Short-Term Incentive Award

(Bonus)

� earned but unpaid bonus

� 300% of the average of Mr. Hall’s earned annual bonuses for the three years preceding termination, payable in a lump sum

Long – Term

Incentive Award

� 36 months’ continued vesting in accordance with their terms (including achievement of applicable performance objectives) of all outstanding equity awards

� a lump sum payment in cash equal to the value of any ungranted Annual Incentive Awards, multiplied by the percentage of such award that would vest within 36 months following termination (i.e., 75% in the case of a four year vesting period)

Other � reimbursement for up to 36 months’ COBRA premiums for Mr. Hall and his family

Payment of severance amounts is conditioned upon execution of a general release of claims against the Company and compliance with 36 month non-competition and non-solicitation covenants. In certain circumstances, payment will be delayed for six months following termination under Code Section 409A. Involuntary or Constructive Termination, and Change in Control Within 24 months of a Change In Control: if Mr. Hall’s employment is terminated involuntarily and without Business Reasons; or a Constructive Termination occurs; or if the Company elects not to renew the CEO Agreement upon its expiration and Mr. Hall terminates his employment within 90 days following the expiration of the CEO Agreement (i.e., double trigger), Mr. Hall will be entitled to receive the following benefits:


Base Salary

� accrued base salary and unused PTO through termination

� 3 times base salary then in effect, payable 6 months following termination

Short-Term Incentive Award

(Bonus)

� any earned but unpaid bonus

� 3 times target bonus for fiscal year in which Change In Control occurs, payable 6 months following termination

Long – Term

Incentive Award

� any ungranted but earned Annual Incentive Awards

� all unvested outstanding equity will vest in full, all performance goals or other vesting criteria will be deemed achieved at target levels and all stock options and SARs will be exercisable as to all covered shares

Other � reimbursement for up to 36 months’ COBRA premiums for Mr. Hall and his family

Immediately upon a Change In Control, all of Mr. Hall’s unvested outstanding equity awards will vest in full, all performance goals or other vesting criteria will be deemed achieved at target levels and all stock options and SARs will be exercisable as to all covered shares. Additionally, any ungranted, but accrued Annual Incentive Awards will be awarded prior to consummation of the Change in Control.

33

Should any payments received by Mr. Hall upon a Change In Control constitute a “parachute payment” within the meaning of Code Section 280G, Mr. Hall may elect to receive either the full amount of his Change In Control payments, or such lesser amount as will ensure that no portion of his severance and other benefits will be subject to excise tax under Code Section 4999 of the Code. Additionally, certain payments may be delayed for six months following termination under Code Section 409A.

The CEO Agreement utilizes the 2014 Plan definition of “Change In Control” which currently provides that a Change In Control will occur when (i) there is a change in ownership of the Company such that any person (or group) becomes the beneficial owner of 50% of our voting securities, (ii) there is a change in the ownership of a substantial portion of the Company’s assets and (iii) there is a change in the effective control of the Company such that a majority of members of the Board is replaced during any 12 month period by directors whose appointment or election is not endorsed by a majority of the members of the Board prior to the date of appointment or election.

In the CEO Agreement, Mr. Hall also agrees not to engage in any competitive activities and not to solicit Gartner employees for 36 months following termination of employment. Termination and Related Payments – Other Executive Officers In the event of termination for cause, voluntary resignation or as a result of death, disability or retirement, no severance benefits are provided. In the event of termination for cause or voluntary resignation, all equity awards are forfeited except as discussed below under Death, Disability and Retirement. In the event of termination without cause (including in connection with a Change In Control), other executive officers are entitled to receive the following benefits:


Base Salary � accrued base salary and unused PTO (not to exceed 25 days) through termination

� 12 months continued base salary paid pursuant to normal payroll schedule

Long – Term Incentive Awards

� If terminated within 12 months of a Change in Control, all unvested outstanding equity will vest in full (upon adjustment if performance adjustment has not occurred on termination), and all stock options and SARs will be exercisable as to all covered shares for 12 months following termination; otherwise unvested awards are forfeited

� If no Change in Control, unvested equity awards are forfeited (except in the case of death, disability and retirement, discussed below)

Other � Reimbursement for up to 12 months’ COBRA premiums for executive and family

In order to receive severance benefits, the executive officers who are terminated are required to execute and comply with a separation agreement and release of claims in which, among other things, the executive reaffirms his or her commitment to confidentiality and non-competition obligations (that bind all employees for one year following termination of employment) and releases the Company from various employment-related claims. In addition, in the case of Named Executive Officers (other than Mr. Hall), severance will not be paid to any executive who refuses to accept an offer of comparable employment from Gartner or who does not cooperate or ceases to cooperate when being considered for a new position with Gartner, in each case as determined by the Company. Finally, under certain circumstances, payments and release of shares may be delayed for six months following termination under Code Section 409A. Death, Disability and Retirement For all equity awards made prior to 2015, in the case of termination due to death, disability or retirement (as defined), our executive officers are entitled to immediate vesting of all PSUs and SARs that would have vested (assuming continued service) during the 12 months following termination. Commencing with the 2015 equity awards, our executive officers are entitled to immediate vesting of all outstanding awards in the case of termination due to death or disability, and continued vesting depending upon the age of the officer in the case of retirement (as defined) as described in the following table:

Termination Event Treatment of Unvested Equity Awards

Death or Disability – pre 2015 awards � 12 months additional vesting upon event

Death or Disability – 2015 et seq. awards � 100% vesting upon event

Retirement – not eligible � Unvested awards forfeited

Retirement – pre 2015 awards - eligible � 12 months additional vesting upon event

34

Termination Event Treatment of Unvested Equity Awards

Retirement – 2015 et seq. awards – eligible � If < 60 years of age, 12 months continued vesting

� If 60, 24 months continued vesting

� If 61, 36 months continued vesting

� If 62 or more, unvested awards vest in full in accordance with its term In order to receive retirement vesting, an officer must be retirement “eligible” on the date of retirement; if not, all unvested awards are forfeited upon retirement. Retirement eligibility is defined in our current equity award agreements as follows: (i) on the date of retirement the officer must be at least 55 years old and have at least 5 years continued service and (ii) the sum of the officer’s age and years of continued service must be 65 or greater. At December 31, 2016, of our NEOs, only Mr. Hall qualified for the additional vesting benefit upon retirement. Disability is defined in our current equity award agreements as total and permanent disability. For all SAR awards prior to 2015, the SARs remain exercisable for the earlier of the applicable expiration date or one year from termination in the case of death, disability or retirement. Commencing with the 2015 SAR awards, the SARs remain exercisable for the earlier of the applicable expiration date or one year from termination in the case of death and disability, and through the expiration date in the case of retirement. In each case, upon termination for any other reason, vested SARs remain exercisable for the earlier of the applicable expiration date or 90 days from the date of termination. In the case of death, disability or retirement, unvested and unadjusted PSUs to which the officer is entitled will be adjusted based upon achievement of the related performance metric upon certification by the Compensation Committee. In all cases related to retirement, the officer must be retirement eligible.

Potential Payments Upon Termination or Change in Control Employment Agreements With Executive Officers above contains a detailed discussion of the payments and other benefits to which our CEO and other Named Executive Officers are entitled in the event of termination of employment or upon a Change In Control, and the amounts payable assuming termination under various circumstances at December 31, 2016 are set forth below. In each case, each Named Executive Officer would also be entitled to receive accrued personal time off (PTO) and the balance in his deferred compensation plan account. Mr. Hall, CEO The table below quantifies (in dollars) amounts that would be payable by the Company, and the value of shares of Common Stock that would be released, to Mr. Hall had his employment been terminated on December 31, 2016 (the “Termination Date”) as a result of (i) involuntary termination without cause and/or constructive termination; (ii) death, disability or retirement; or (iii) a Change In Control. See Outstanding Equity Awards At Fiscal Year End Table below for a list of Mr. Hall’s unvested equity awards at the end of 2016. Mr. Hall was eligible for retirement benefits at December 31, 2016.

Involuntary termination

(severance benefits)

(1)

Involuntary termination (continued vesting of

equity awards)

(2)

Total Involuntary termination

(1), (2)

Death, disability or

retirement (value of unvested

equity awards)

(3)

Change in Control


(4)

Change in Control

(acceleration of unvested

equity awards)

(5)

Total Change in

Control (4), (5)

7,347,612 34,412,566 35,147,327 33,630,984 6,878,322 33,655,560 40,533,882

(1) Represents the sum of (w) three times base salary in effect at Termination Date; (x) 300% of the average actual bonus paid for the prior three years (2013, 2014 and 2015); (y) unpaid 2016 bonus; and (z) the amount of health insurance premiums for Mr. Hall, his spouse and immediate family for 36 months (at rate in effect on the Termination Date).

(2) Represents (x) the fair market value using the closing price of our Common Stock on December 31, 2016, or $101.07 (the “Year End Price”) of unvested PSUs that would have vested within 36 months following the Termination Date, plus (y) the spread between the

35

Year End Price and the exercise price for all in-the-money SARs that would have vested within 36 months following the Termination Date, multiplied by the number of such SARs.

(3) Represents (x) the fair market value using the Year End Price of (i) unvested PSUs awarded prior to 2015 that would have vested within 12 months following the Termination Date and (ii) all unvested PSUs awarded in 2015 and 2016, plus (y) the spread between the Year End Price and the exercise price for all in-the-money SARs awarded in 2015 and 2016 that would have vested within 12 months following the Termination Date and (ii) all unvested SARs awarded in 2015 and 2016, multiplied by the number of such SARs. 2016 PSUs are adjusted based upon applicable performance metrics.

(4) Represents the sum of (w) three times base salary in effect at Termination Date, (x) three times 2016 target bonus, (y) unpaid 2016 bonus, and (z) the amount of health insurance premiums for Mr. Hall, his spouse and immediate family for 36 months (at premiums in effect on the Termination Date).

(5) Represents (x) the fair market value using the Year End Price of all unvested PSUs on the Termination Date (at target in the case of unadjusted 2016 PSUs), plus (y) the spread between the Year End Price and the exercise price of all in-the-money unvested SARs on the Termination Date, multiplied by the number of such SARs.

Other Named Executive Officers The table below quantifies (in dollars) amounts that would be payable by the Company, and the value of shares of Common Stock that would be released, to our Named Executive Officers (other than Mr. Hall) had their employment been terminated on December 31, 2016 (the “Termination Date”) as a result of (i) involuntary termination without cause and/or constructive termination; (ii) death or disability; or (iii) a Change In Control. None of these NEOs were eligible for retirement benefits at December 31, 2016. See Outstanding Equity Awards At Fiscal Year End Table below for a list of unvested equity awards held by each Named Executive Officer at the end of 2016.

Named Executive Officer

Involuntary termination


(1)

Value of unvested equity

awards (death, disability

or retirement) (2)

Value of unvested equity

awards (Change In Control)

(3)

Total Change In Control

(1), (3) Craig W. Safian 537,096 4,818,667 4,392,151 4,929,247 Per Anders Waern 473,596 4,984,529 4,988,210 5,461,806 David Godfrey 473,596 4,984,529 4,988,210 5,461,806 Alwyn Dawkins 473,596 4,984,529 4,988,210 5,461,806

(1) Represents 12 months’ base salary in effect on the Termination Date plus the amount of health insurance premiums for the executive, his spouse and immediate family for 12 months (at premiums in effect on the Termination Date) payable in accordance with normal payroll practices. Since the executive must be employed on the bonus payment date (February 2017 in order to receive earned but unpaid 2016 bonus, in the event of termination on December 31, 2016, 2016 bonus would have been forfeited and, therefore, is excluded. See Non-Equity Incentive Plan Compensation in the Summary Compensation Table above for these bonus amounts.

(2) Represents (x) the fair market value using the closing price of our Common Stock on December 31, 2016, or $101.07 (the “Year End Price”) of (i) unvested PSUs awarded prior to 2015 that would have vested within 12 months following the Termination Date, and (ii) 100% of unvested PSUs awarded in 2015 and 2016, plus (y) the spread between the Year End Price and the exercise price of (i) all in-the-money SARs awarded prior to 2015 that would have vested within 12 months following the Termination Date, and (ii) 100% of unvested SARs awarded in 2015 and 2016, multiplied by the number of such SARs, in the event of death or disability. 2016 PSUs are adjusted based upon applicable performance metrics. Messrs. Safian, Waern, Godfrey and Dawkins were not eligible for retirement benefits on December 31, 2016 and would have forfeited all unvested equity had they retired on the Termination Date.

(3) Represents (x) the fair market value using the Year End Price of all unvested PSUs on the Termination Date (at target in the case of unadjusted 2016 PSUs), plus (y) the spread between the Year End Price and the exercise price of all in-the-money unvested SARs on the Termination Date, multiplied by the number of such SARs.

________________________

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Outstanding Equity Awards at Fiscal Year-End Table This table provides information on each option (including stock appreciation rights or SARs) and stock (including restricted stock units (RSUs) and performance restricted stock units (PSUs) award held by each Named Executive Officer at December 31, 2016. All performance criteria associated with these awards (except for the 2016 PSU award (see footnote 4)) were fully satisfied as of December 31, 2016, and the award is fixed. The market value of the stock awards is based on the closing price of our Common Stock on the New York Stock Exchange on December 31, 2016, which was $101.07. Upon exercise of, or release of restrictions on, these awards, the number of shares ultimately issued to each executive will be reduced by the number of shares withheld by Gartner for tax withholding purposes and/or as payment of exercise price in the case of options and SARs.

Named Executive Officer

Option Awards Stock Awards

Number of Securities

Underlying Unexer-

cised Options Exercis-

able (#)

Number of Securities

Underlying Unexercised

Options Unexercis-

able (#)

Option Exercise

Price ($)

Option Expira-

tion Date

Number of Shares or

Units of Stock That Have

Not Vested

(#)

Market Value of

Shares or Units of

Stock That Have

Not Vested

($)

Equity Incentive

Plan Awards: Number

of Unearned

Shares, Units or

Other Rights

That Have Not

Vested (#)

Equity Incentive

Plan Awards:

Market or Payout

Value of Unearned

Shares, Units, or

Other Rights

That Have Not

Vested ($)

Eugene A. Hall (1), (5) 98,062 32,687 49.37 2/12/20 26,918 2,720,602 - - (2), (5) 67,491 67,490 64.64 2/10/21 63,031 6,360,543 - - (3), (5) 31,688 95,062 77.92 2/9/22 79,878 8,073,269 - - (4), (5) - 145,703 80.60 2/08/23 - - 70,057 7,080,661

Craig W. Safian (1) - - - - 2,025 204,667 - - (2) - - - - 3,480 351,727 - - (3) - - - - 12,962 1,310,069 - - (6) - 15,427 77.92 - 3,566 360,416 - -

(4), (5) - 25,977 80.06 2/8/23 - - 12,490 1,262,364 Per Anders Waern

(1), (5) - 4,726 49.37 2/12/20 3,892 393,364 - - (2), (5) - 10,040 64.64 2/10/21 9,376 947,632 - - (3), (5) - 14,141 77.92 2/9/22 11,883 1,201,015 - - (4), (5) - 21,675 80.60 2/08/23 - - 10,422 1,053,352

David Godfrey (1), (5) - 4,726 49.37 2/12/20 3,892 393,364 - - (2), (5) 10,040 10,040 64.64 2/10/21 9,376 947,632 - - (3), (5) 4,714 14,141 77.92 2/9/22 11,883 1,201,015 - - (4), (5) - 21,675 80.60 2/08/23 - - 10,422 1,053,352

Alwyn Dawkins (5) 20,239 - 37.81 2/09/19 - - -

(1), (5) 14,179 4,726 49.37 2/12/20 3,892 393,364 - - (2), (5) 10,040 10,040 64.64 2/10/21 9,376 947,632 - - (3), (5) 4,714 14,141 77.92 2/9/22 11,883 1,201,015 - - (4), (5) - 21,675 80.60 2/08/23 - - 10,422 1,053,352

(1) Vest 25% per year commencing 2/12/14.


37


(4) Vests 25% per year commencing 2/8/17. The market value of the Stock Award is presented at target (100%), and the amount

ultimately awarded could range from 0% to 200% of the target award and the maximum payout value is 200% of target. After certification of the applicable performance metric in February 2017, the amount actually awarded on account of Stock Awards was adjusted to 162% of target. The actual number of PSUs awarded to the NEOs is reported in footnote (2) to the Grants of Plan – Based Awards Table.

(5) The amounts shown under Option Awards represent SARs that will be stock-settled upon exercise; accordingly, the number of

shares ultimately received upon exercise will be less than the number of SARs held by the executive and reported in this table.

(6) Vest 25% per year commencing 6/13/15. Option Exercises and Stock Vested Table This table provides information for the NEOs for the aggregate number of SARs that were exercised, and stock awards that vested and released, during 2016 on an aggregate basis, and does not reflect shares withheld by the Company for exercise price or withholding taxes.

Name

Option Awards

Stock Awards

Number of Shares

Acquired on Exercise

(#)

Value Realized on

Exercise ($) (1)

Number of Shares

Acquired on Vesting

(#) (2)

Value Realized on

Vesting ($)(3)

Eugene A. Hall 45,594 4,466,844 62,527 5,050,620 Craig W. Safian - - 7,386 613,729 Per Anders Waern 4,198 414,930 10,332 834,974 David Godfrey 9,999 980,625 10,332 834,894 Alwyn Dawkins 4,379 419,990 9,973 805,849

(1) Represents the spread between (i) the market price of our Common Stock at exercise and (ii) the exercise price for all SARs exercised during the year, multiplied by the number of SARs exercised.

(2) Represents PSUs awarded in prior years as long-term incentive compensation that released in 2016.

(3) Represents the number of shares that released multiplied by the market price of our Common Stock on the release date. Non-Qualified Deferred Compensation Table The Company maintains a Non-Qualified Deferred Compensation Plan for certain officers and key personnel whose aggregate compensation in 2016 was expected to exceed $325,000. This plan currently allows qualified U.S.-based employees to defer up to 50% of annual salary and/or up to 100% of annual bonus earned in a fiscal year. In addition, in 2016 the Company made a contribution to the account of each Named Executive Officer who deferred compensation equal to the amount of such executive’s contribution (not to exceed 4% of base salary and bonus), less $7,200. Deferred amounts are deemed invested in several independently-managed investment portfolios selected by the participant for purposes of determining the amount of earnings to be credited by the Company to that participant’s account. The Company may, but need not, acquire investments corresponding to the participants’ designations.

Upon termination of employment for any reason, all account balances will be distributed to the participant in a lump sum, except that a participant whose account balance is in excess of $25,000 may defer distributions for an additional year, or elect to receive the balance in 20, 40 or 60 quarterly installments. In the event of an unforeseen emergency (which includes a sudden and unexpected illness or accident of the participant or a dependent, a loss of the participant’s property due to casualty or other extraordinary and unforeseeable circumstance beyond the participant’s control), the participant may request early payment of his or her account balance, subject to approval.

38

The following table provides information (in dollars) concerning contributions to the Deferred Compensation Plan in 2016 by the participating Named Executive Officers, the Company’s matching contributions, 2016 earnings, aggregate withdrawals and distributions and account balances at year end:

Name

Executive Contributions

in 2016 (1)

Company Contributions

in 2016 (2)

Aggregate Earnings

(loss) in 2016

Aggregate Withdrawals/ Distributions

in 2016

Aggregate Balance at

12/31/16 Eugene A. Hall 84,665 75,951 59,669 170,643 606,327 Craig W. Safian 36,899 28,841 7,705 - 102,503 Per Anders Waern 33,626 25,674 37,905 - 472,648 David Godfrey 57,179 25,674 30,258 - 301,385 Alwyn Dawkins 39,254 25,674 33,019 198,844 258,021

(1) Executive Contributions are included in the “Base Salary” and/or “Non-Equity Incentive Plan Compensation” columns in the Summary Compensation Table for the NEOs.

(2) Company Contributions are included in the “All Other Compensation” column of the Summary Compensation Table, and in the “Company Match Under Non-qualified Deferred Compensation Plan” column of the Other Compensation Table for the NEOs.

EQUITY COMPENSATION PLAN INFORMATION

The following table provides information as of December 31, 2016 regarding the number of shares of our Common Stock that may be issued upon exercise of outstanding options, stock appreciation rights and other rights (including restricted stock units, performance stock units and common stock equivalents) awarded under our equity compensation plans (and, where applicable, related weighted-average exercise price information), as well as shares available for future issuance under our equity compensation plans. All equity plans with outstanding awards or available shares have been approved by our stockholders.

Column A Column B Column C

Plan Category

Number of Securities to be Issued Upon

Exercise of Outstanding Options

and Rights

Weighted Average Exercise Price of

Outstanding Options

and Rights ($)

Number of Securities Remaining Available For Future Issuance

Under Equity Compensation Plans (excluding shares in

Column A) 2003 Long - Term Incentive Plan (1) 1,202,355 54.12 - 2014 Long – Term Incentive Plan (2) 1,513,921 79.08 6,710,331 2011 Employee Stock Purchase Plan - - 907,503 Total 2,716,276 61.28 7,617,834

(1) Award shares under the 2003 plan withheld for taxes, surrendered to pay exercise price or cancelled are retired; at the present time all awards are made under the 2014 Plan.

(2) Award shares under the 2014 Plan withheld for taxes, surrendered to pay exercise price or cancelled are returned to the available share pool.

From January 1, 2017 to April 1, 2017: 423,221 RSUs and/or PSUs were awarded to our executive officers and associates, and 298,578 SARs were awarded to our executive officers, primarily in connection with the 2017 annual equity award; 1,737 Common Stock Equivalents were issued to our directors for directors fees; 148,556 shares withheld for taxes, surrendered to pay exercise price or cancelled relating to awards made under the 2003 Plan were retired; and 114,059 shares withheld for taxes, surrendered to pay exercise price or cancelled relating to awards made under the 2014 Plan were returned to the available share pool in that plan.

As of April 1, 2017 under both the 2003 and 2014 Plans: there were no options and an aggregate of 1,557,653 SARs outstanding, with a weighted average exercise price of $69.52 and an average remaining term of 4.79 years; and there were an aggregate of 1,253,117 full value shares represented by unvested outstanding RSUs and PSUs outstanding. Additionally, there were 5,439,391 shares available for future grant under the 2014 Plan.

39

PROPOSAL TWO:

ADVISORY APPROVAL OF THE COMPANY’S EXECUTIVE COMPENSATION In accordance with the requirements of Section 14A of the Exchange Act (which was added by the Dodd-Frank Act) and the related rules of the SEC, we are including in this Proxy Statement a separate resolution subject to stockholder vote to approve the compensation of our Named Executive Officers. The stockholder vote on this resolution is advisory only. However, the Compensation Committee and the Board will consider the voting results when making future executive compensation decisions.

The text of the resolution in respect of Proposal No. 2 is as follows:

Resolved, that the compensation of Gartner's Named Executive Officers as disclosed in this Proxy Statement pursuant to Item 402 of Regulation S-K, including the Compensation Discussion and Analysis, compensation tables and narrative discussion, is hereby approved.

In considering your vote, stockholders may wish to review with care the information on Gartner’s compensation policies and decisions regarding the Named Executive Officers presented in the CD&A on pages 16 - 27, including, in particular, the information concerning Company performance included in the Executive Summary on pages 16 - 18 and highlights of our Compensation Practices on pages 18 - 19. In particular, stockholders should note that the Compensation Committee bases its executive compensation decisions on the following:

�

the need to attract, motivate and retain highly talented, creative and entrepreneurial individuals in a highly competitive industry and market place;

�

the need to motivate our executives to maximize the performance of our Company through pay-for-performance compensation components which have led executives to deliver outstanding performance for the past several years;

� comparability to the practices of peers in our industry and other comparable companies generally based upon available benchmarking data; and

� the alignment of our executive compensation programs with stockholder value through heavily weighted performance- based compensation elements.

As noted in the Executive Summary on commencing on page 16, 2016 was another year of record achievement for Gartner, largely as a result of the achievements, focus and skill of our executive leadership team. We achieved Contract Value, Revenue, EBITDA and EPS growth of 14%, 14%, 10% and 24%, respectively on an FX neutral basis where applicable. Additionally, our Common Stock returned compound annual growth rates of 11%, 12% and 24% on a 1, 3 and 5 year basis, significantly out-performing the S&P 500 and NASDAQ Total Return indices for the corresponding periods. The Board believes that Gartner’s executive compensation program has a proven record of effectively driving superior levels of financial performance, stockholder value, alignment of pay with performance, high ethical standards and attraction and retention of highly talented executives.


Our Board unanimously recommends that you vote FOR the foregoing resolution to approve, on an advisory

basis, the compensation of our Named Executive Officers as disclosed in this Proxy Statement.

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SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT

Based on our review of information on file with the SEC and our stock records, the following table provides certain information about beneficial ownership of shares of our Common Stock as of April 1, 2017 (including shares that will release or are or will become exercisable within 60 days following April 1, 2017) held by: (i) each person (or group of affiliated persons) which is known by us to own beneficially more than five percent (5%) of our Common Stock; (ii) each of our directors; (iii) each Named Executive Officer; and (iv) all directors, Named Executive Officers and other current executive officers as a group. Unless otherwise indicated, the address for those listed below is c/o Gartner, Inc., 56 Top Gallant Road, Stamford, CT 06904. The amounts shown do not include CSEs that release upon termination of service as a director, or deferred RSUs that will not release within 60 days. Since all stock appreciation rights (SARs) are stock-settled (i.e., shares are withheld for the payment of exercise price and taxes), the number of shares ultimately issued upon settlement will be less than the number of SARS exercised. Except as indicated by footnote, and subject to applicable community property laws, the persons named in the table directly own, and have sole voting and investment power with respect to, all shares of Common Stock shown as beneficially owned by them. To the Company’s knowledge, none of these shares has been pledged.

Beneficial Owner

Number of Shares Beneficially

Owned Percent Owned

Michael J. Bingle (1) 27,755 * Peter E. Bisson (2) 1,743 * Richard J. Bressler 17,488 * Raul E. Cesan (3) 94,110 * Karen E. Dykstra (1) 20,723 * Anne Sutherland Fuchs (1) 34,696 * William O. Grabe (1) 130,293 * Stephen G. Pagliuca (1) 55,398 * James C. Smith (4) 1,056,588 1.3 Eugene A. Hall (5) 1,505,414 1.8 Craig W. Safian (6) 34,878 * Per Anders Waern - * David Godfrey (7) 40,666 * Alwyn Dawkins (8) 79,297 * All current directors, Named Executive Officers and other

executive officers as a group (21 persons) (9) 3,583,773 4.3

Baron Capital Group, Inc. (10) 767 Fifth Avenue, New York, NY 10153

7,502,738 9.0

Blackrock, Inc. (11) 40 East 52nd Street, New York, NY 10022

7,796,236 9.4

The Vanguard Group, Inc. (12) 100 Vanguard Blvd., Malvern, PA 19355

6,388,272 7.7

* Less than 1%

(1) Includes 1,960 RSUs that will release on May 26, 2017, subject to continued service (the “2016 Director RSU Award”).

(2) Represents 1,743 RSUs that will release on May 26, 2017, subject to continued service.

(3) Includes 30,000 shares held by a family foundation as to which Mr. Cesan may be deemed a beneficial owner, and the 2016 Director RSU Award.

(4) Includes the 2016 Director RSU Award, 50,000 shares held by members of Mr. Smith’s immediate family and 211,900 shares held by

a family foundation as to which Mr. Smith may be deemed a beneficial owner.

(5) Includes 331,787 vested and exercisable stock appreciation rights (“SARs”).

(6) Includes 16,781 vested and exercisable SARs.

41



(9) Includes 19,008 RSUs shares that will release within 60 days, and 673,559 vested and exercisable SARs.

(10) Includes shares beneficially owned by Baron Capital Group, Inc. (“BCG”) and Ronald Baron; also includes 7,260,279 shares beneficially owned by BAMCO, Inc. and 242,459 shares beneficially owned by Baron Capital Management, Inc., subsidiaries of BCG. Ronald Baron owns a controlling interest in BCG.

(11) Includes shares held by various subsidiaries and/or affiliates of Blackrock, Inc.

(12) Includes shares beneficially owned by The Vanguard Group, Inc. as an investment adviser, and includes 43,404 shares beneficially owned by Vanguard Fiduciary Trust Company as investment manager of collective trust accounts, and 66,518 shares beneficially owned by Vanguard Investments Australia, Ltd as investment manager.

______________________________

SECTION 16(a) BENEFICIAL OWNERSHIP REPORTING COMPLIANCE Section 16(a) of the Exchange Act requires our executive officers, directors and persons who beneficially own more than 10% of our Common Stock to file reports of ownership and changes of ownership with the SEC and to furnish us with copies of the reports they file. To assist with this reporting obligation, the Company prepares and files ownership reports on behalf of its officers and directors pursuant to powers of attorney issued by the officer or director to the Company. Based solely on our review of these reports, or written representations from certain reporting persons, there were no late filings in 2016.

TRANSACTIONS WITH RELATED PERSONS

Gartner is a provider of comprehensive research coverage of the IT industry to over 10,000 distinct enterprises in over 90 countries. Because of our worldwide reach, it is not unusual for Gartner to engage in ordinary course of business transactions involving the sale of research or consulting services with entities in which one of our directors, executive officers or a greater than 5% owner of our stock, or immediate family member of any of them, may also be a director, executive officer, partner or investor, or have some other direct or indirect interest. We will refer to these transactions generally as related party transactions.

Our Governance Committee reviews all related party transactions to determine whether any director, executive officer or a greater than 5% owner of our stock, or immediate family member of any of them, has a material direct or indirect interest, or whether the independence from management of our directors may be compromised as a result of the relationship or transaction. Our Board Principles and Practices, which are posted on www.investor.gartner.com, require directors to disclose all actual or potential conflicts of interest regarding a matter being considered by the Board or any of its committees and to excuse themselves from that portion of the Board or committee meeting at which the matter is addressed to permit independent discussion. Additionally, the member with the conflict must abstain from voting on any such matter. The Governance Committee is charged with resolving any conflict of interest issues brought to its attention and has the power to request the Board to take appropriate action, up to and including requesting the involved director to resign. Our Audit Committee and/or Board of Directors reviews and approves all material related party transactions involving our directors in accordance with applicable provisions of Delaware law and with the advice of counsel, if deemed necessary.

The Company maintains a written conflicts of interest policy which is posted on our intranet and prohibits all Gartner employees, including our executive officers, from engaging in any personal, business or professional activity which conflicts with or appears to conflict with their employment responsibilities and from maintaining financial interests in entities that could create an appearance of impropriety in their dealings with the Company. Additionally, the policy prohibits all Gartner employees from entering into agreements on behalf of Gartner with any outside entity if the employee knows that the entity is a related party to a Gartner employee; i.e., that the contract would confer a financial benefit, either directly or indirectly, on a Gartner employee or his or her relatives. All potential conflicts of interest and related party transactions involving Gartner employees must be reported to, and pre-approved by, the General Counsel. In 2016, there were no related party transactions in which any director, executive officer or a greater than 5% owner of our stock, or immediate family member of any of them, had or will have a direct or indirect material interest.

42

PROPOSAL THREE:

ADVISORY VOTE ON THE FREQUENCY OF FUTURE STOCKHOLDER VOTES ON EXECUTIVE COMPENSATION

As part of the “Say on Pay” rules adopted by Congress, the Company stockholders may indicate, by a non-binding vote, the frequency of future advisory votes on executive compensation (in other words, how often a proposal similar to this year’s Proposal No. 2 will be included in the matters to be voted on at the Annual Meeting). The choices available under the Say on Pay rules are every one, two or three years.

The frequency selected by the stockholders for conducting Say on Pay voting at the Annual Meetings of the stockholders of the Company is not a binding determination. However, the frequency selected will be given due consideration by the Board of Directors in its discretion.

The text of the resolution in respect of Proposal No. 3 is as follows:

“RESOLVED, that the stockholders recommend, in an advisory vote, whether a stockholder advisory vote to approve the compensation of Gartner’s named executive officers should occur every one, two or three years.

Since 2012, in response to the first stockholder “frequency” vote, the Company has included an annual say on pay advisory vote proposal in its proxy statement.


The Board of Directors recommends that you select EVERY YEAR as the desired frequency for a stockholder vote

on executive compensation under the Say on Pay rules. ___________________

PROPOSAL FOUR:

APPROVAL OF THE AMENDED AND RESTATED EXECUTIVE PERFORMANCE BONUS PLAN

As discussed in detail in the Compensation Discussion and Analysis, the Compensation Committee has for many years approved short-term incentive compensation to our executive officers in the form of cash bonuses that may be earned for the achievement of performance objectives set by the Compensation Committee. We believe this element of compensation drives outstanding performance and stockholder value. In 2007, the Company first adopted an Executive Performance Bonus Plan that was intended to entitle the Company to a full income tax deduction for any performance-based incentive cash compensation paid to our Chief Executive Officer and our other most highly compensated executive officers, and the plan was approved by stockholders at the 2007 Annual Meeting and reapproved at the 2012 Annual Meeting. In order to continue to potentially take full advantage of this tax deduction, we are required under IRS regulations to seek stockholder approval of the material terms of this plan every five years. Accordingly, the Company is presenting the Amended and Restated Executive Performance Bonus Plan (the “Amended Bonus Plan”) to its stockholders at the 2017 Annual Meeting for their approval. The Amended Bonus Plan requires the approval of a majority of the shares of the Company’s common stock that are present in person or by proxy and entitled to vote at the Annual Meeting. If the stockholders choose not to approve this Proposal, short-term incentive compensation will not be paid under the Amended Bonus Plan. However, the Company likely will consider continuing to provide short-term incentive cash bonus opportunities outside of the Amended Bonus Plan, which bonuses may not be deductible to the Company. The following paragraphs provide a summary of the principal features of the Amended Bonus Plan and its operation. The Amended Bonus Plan is set forth in its entirety as Appendix A to this Proxy Statement. The following summary is qualified in its entirety by reference to Appendix A.

43

PLAN SUMMARY Purpose. The purpose of the Amended Bonus Plan is to motivate executive officers to achieve goals relating to the

performance of the Company, its subsidiaries or business units, and to reward them when those objectives are satisfied, thereby increasing stockholder value and the success of Gartner. The Amended Bonus Plan is also designed to assist the Company in attracting and retaining executive talent. If certain requirements are satisfied, bonuses awarded under the Amended Bonus Plan to eligible employees may qualify as deductible “performance-based compensation” within the meaning of Section 162(m) of the of the Code (“Section 162(m)”).

Eligibility to Participate. The Compensation Committee of the Board of Directors (the “Committee”) selects the employees of the Company (and its affiliates) who will be eligible to receive awards under the Amended Bonus Plan. At the present time, we expect that participation will be limited to the Company’s executive officers, a total of 12 executives as of the date of this Proxy Statement. However, the Committee has discretion to include other employees in the Amended Bonus Plan in its discretion. If the Amended Bonus Plan is approved by stockholders, the first participants in the Amended Bonus Plan likely will be chosen for participation for calendar year 2018. No person is automatically entitled to participate in the Amended Bonus Plan in any particular year. Target Awards and Performance Goals. Each performance period, the Committee assigns each participant a target award and performance goal or goals that must be achieved before an award actually will be paid to the participant. The participant’s target award typically will be expressed as a percentage of his or her base salary earned during the applicable performance period (or as a specific dollar amount or the result of one or more formulas). The performance goals require the achievement of objectives for one or more of (a) cash flow, (b) contract value, (c) customer efficiency, (d) profit, (e) revenue, (f) selling, general and administrative expenses and (g) total stockholder return. Each of these measures is defined in the Amended Bonus Plan. Performance goals may either be the same for, or differ from, participant to participant, performance period to performance period and from award to award, as the Committee may determine. The Committee may choose to set performance goals: (1) in absolute terms; (2) in combination with another performance goal or goals (for example, as a ratio or matrix); (3) in relative terms (for example, as compared to results for other period of time, against other objective metrics and/or another company, companies, index or indices); (4) with respect to equity, assets or human resources of the Company (including, for example, on a per share and/or per capita basis; (5) against the performance of the Company as a whole or a specific business unit(s) (including acquired business units), business segment(s) or product(s) of the Company; (6) on a pre-tax or after-tax basis; and/or (7) on a GAAP or non-GAAP basis. For example, the Committee could determine that awards may be earned for a particular performance period for the achievement of a specified level or levels for profit calculated before interest, taxes, depreciation and amortization (in other words, EBITDA). As another example, the Committee could determine that awards may be earned for a performance period for the achievement of a goal or goals for profit divided by the number of shares of Company common stock that are outstanding (in other words, earnings per share or EPS). The Committee also will determine whether any element(s) (for example, the effect of mergers, acquisitions and/or dispositions, litigation, restructuring or reorganization programs, currency exchange and/or changes in tax or other laws) will be included in or excluded from the calculations, or whether or not such any performance goal will be measured on a GAAP or non-GAAP basis. Each performance period will last one fiscal year.

Actual Awards. After the performance period ends, the Committee certifies in writing the extent to which the pre-established performance goals actually were achieved or exceeded. The actual award (if any) that is payable to a participant is determined using a formula that increases or decreases the participant’s target award based on the level of actual performance attained. However, the Amended Bonus Plan limits actual awards to a maximum of $5 million per person for any performance period, even if the pre-established formula otherwise indicates a larger award.

The Committee has discretion to reduce or eliminate (but not increase) the actual award of any participant. Also, unless

determined otherwise by the Committee, a participant will forfeit the bonus if a participant terminates employment (other than due to death, disability or retirement) after a bonus is earned, but before it is paid. Actual awards generally are paid in cash generally no later than two and one-half months after the performance period ends.

Clawback. The Committee may require a participant to forfeit, return or reimburse the Company for any part of an award

to the extent required by law or any clawback policy adopted by the Company, on account of fraud, breach of fiduciary duty, reinstatement of financial statements as a result of fraud, willful errors or omissions, or violation of law or material Company policies.

44

Administration. The Committee administers the Amended Bonus Plan. Members of the Committee must qualify as outside directors under Section 162(m). Subject to the terms of the Amended Bonus Plan, the Committee has sole discretion to:

� select the employees who will be eligible to receive awards;

� determine the target award for each participant;

� determine the performance goals that must be achieved before any actual awards are paid;

� establish a payout formula to provide for an actual award greater or less than a participant’s target award to reflect actual performance versus the predetermined performance goals; and

� interpret the provisions of the Amended Bonus Plan.

Performance Based Compensation. The Amended Bonus Plan is intended to allow us to pay bonuses that qualify as “performance-based” compensation under Section 162(m). Under Section 162(m), the Company may not receive a federal income tax deduction for compensation paid to the Company’s Chief Executive Officer or any of the three other most highly compensated executive officers (other than the Chief Financial Officer) to the extent that any of these persons receives more than $1 million in cash compensation in any one year. However, if the Company pays compensation that is “performance based” under Section 162(m) and is paid pursuant to a stockholder-approved plan, the Company still may receive a federal income deduction for the compensation even if it is more than $1 million during a single year. Your approval of the Amended Bonus Plan will permit (but not require) the Company to pay incentive compensation that is intended to be performance-based and fully tax deductible on the Company’s federal income tax return.

Amendment and Termination of the Plan. The Board may amend or terminate the Amended Bonus Plan at any time and

for any reason. However, no amendment or termination may impair the rights of a participant with respect to already established target awards, unless the participant consents. PARTICIPATION IN PLAN BENEFITS

The Amended Bonus Plan is not effective until January 1, 2018 and is expected to be first implemented for the calendar year 2018 performance period. Awards under the Amended Bonus Plan are determined based on actual future performance. As a result, future actual awards cannot now be determined. For purposes of illustration only, the table set forth below provides the 2016 bonus amounts earned by the named executive officers (and all executive officers as a group) under the Company’s current Executive Performance Bonus Plan. The 2016 bonus program was very similar to the Amended Bonus Plan and 2016 bonus awards were paid in February 2017. See Compensation Discussion and Analysis – “How the Company Determines the Amount (and Where Applicable, the Formula) for Each Element to Pay.” These individuals currently would be expected to participate in the Amended Bonus Plan for the 2018 performance period. Any amounts paid under the Amended Bonus Plan may be higher or lower than these amounts. In the future, the Committee will select appropriate performance goals that relate to the achievement of targets for the 2018 performance period. Your approval of the Amended Bonus Plan will help us in meeting the requirements necessary to qualify as performance-based compensation. Because our executive officers are eligible to receive awards under the Amended Bonus Plan, our executive officers have an interest in this proposal.

Name of Individual or Group 2016 Amount ($) Eugene A. Hall, Chief Executive Officer 1,203,451 Craig Safian, SVP & Chief Financial Officer 454,951 Per Anders Waern, SVP, Gartner Consulting 398,769

David Godfrey, SVP, Sales 398,769 Alwyn Dawkins, SVP, Events 398,769 All executive officers, as a group (12 persons) 5,318,134 All directors who are not executive officers, as a group* - All employees who are not executive officers, as a group -

*Non-employee directors are not eligible under the Amended Bonus Plan.

There can be no assurance that any awards for 2018 or any subsequent performance period actually will be paid. The actual award paid (if any) will vary depending on actual performance compared to the targeted performance goals for the applicable performance

45

period, and may be more or less than the 2016 amounts provided above. The Committee has discretion to decrease (but not increase) any award otherwise indicated under a pre-established formula. The Committee also may choose to pay bonuses outside of the Amended Bonus Plan for strategic or other reasons. Any such bonuses may not be deductible to the Company. IF THE AMENDED BONUS PLAN IS NOT APPROVED If the stockholders do not approve the Amended Bonus Plan, no awards of short-term incentive compensation will be made under the Amended Bonus Plan. The Committee nonetheless may consider continuing to provide short-term incentive compensation to executives in future fiscal years. Any amounts paid to executive officers may not be fully deductible for federal income tax purposes. Stockholder approval of the Amended Bonus Plan will help the Company in seeking to make this form of compensation fully tax-deductible. The text of the resolution in respect of Proposal No. 4 is as follows:

“RESOLVED, that the stockholders approve the Amended and Restated Executive Performance Bonus Plan.”


Our Board unanimously recommends that you vote "FOR" approval of the Amended and Restated Executive Performance Bonus Plan.

________________________

PROPOSAL FIVE:

RATIFICATION OF APPOINTMENT OF INDEPENDENT AUDITOR The Audit Committee of the Board of Directors has appointed KPMG LLP to serve as the Company’s independent auditor for the 2017 fiscal year. Additional information concerning the Audit Committee and its activities with KPMG can be found in the Audit Committee Report and the Principal Accountant Fees and Services below.

The Audit Committee of the Board of Directors is directly responsible for the appointment, compensation and oversight of the Company’s independent auditor. Ratification by the stockholders of the appointment of KPMG is not required by law, the Company’s bylaws or otherwise. However, the Board of Directors is submitting the appointment of KPMG for stockholder ratification to ascertain stockholders’ views on the matter. Representatives of KPMG will attend the Annual Meeting to respond to appropriate questions and to make a statement if they desire to do so.

Principal Accountant Fees and Services During 2016, KPMG performed recurring audit services, including the audit of our annual consolidated financial statements and the audit of internal controls over financial reporting as of December 31, 2016, reviews of our quarterly financial information, and certain statutory audits and certain tax services for the Company. The aggregate fees billed for professional services by KPMG in 2015 and 2016 for various services performed by them were as follows:

Types of Fees 2015 ($) 2016 ($)Audit Fees 2,729,400 2,857,000Audit-Related Fees 7,600 28,000Tax Fees 513,277 545,000All Other Fees - 3,000

Total Fees 3,250,277 3,433,000 Audit Fees Audit fees relate to professional services rendered by KPMG for the audit of the Company’s annual consolidated financial statements contained in its Annual Report on Form 10-K, audit of internal controls over financial reporting and reviews of the Company’s quarterly financial information contained in its Quarterly Reports on Form 10-Q, as well as work performed in connection with statutory and regulatory filings.

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Audit-Related Fees Audit-related fees relate to professional services rendered by KPMG primarily for an agreed upon procedures report and issuance of a consent in connection with the filing of a registration statement. Tax Fees Tax fees relate to professional services rendered by KPMG for permissible tax compliance, tax advice and tax planning services. All Other Fees This category of fees covers all fees for any permissible service not included in the above categories. Pre-Approval Policies The Audit Committee’s policy is to pre-approve all audit, audit-related and permissible non-audit services provided by KPMG. These services may include domestic and international audit services, audit-related services, tax services and other services. At the beginning of each fiscal year, the Audit Committee pre-approves aggregate fee limits for specific types of permissible services (e.g., domestic and international tax compliance and tax planning services; transfer pricing services, audit-related services and other permissible services) to allow management to engage KPMG expeditiously as needed as projects arise. At each regular quarterly meeting, KPMG and management report to the Audit Committee regarding the services for which the Company has engaged KPMG in the immediately preceding fiscal quarter in accordance with the pre-approved limits, and the related fees for such services as well as year-to-date cumulative fees for KPMG services. Pre-approved limits may be adjusted as necessary during the year, and the Audit Committee may also pre-approve particular services on a case-by-case basis. All services provided by KPMG in 2016 were pre-approved by the Audit Committee.

AUDIT COMMITTEE REPORT

Pursuant to its responsibilities as set forth in the Audit Committee Charter, the Audit Committee has reviewed and discussed with management and with KPMG Gartner’s audited consolidated financial statements for the year ended December 31, 2016. The Audit Committee has discussed with KPMG the matters required to be discussed by Auditing Standard No. 16, Communications with Audit Committees, as adopted by the Public Company Accounting Oversight Board (PCAOB). The Audit Committee has received the written disclosures and letter from KPMG required by applicable requirements of the PCAOB regarding KPMG’s communications with the Audit Committee concerning independence and has discussed with KPMG that firm’s independence.

Based on the review and discussions noted above, as well as discussions regarding Gartner’s internal control over financial reporting and discussions with Gartner’s Internal Audit function, the Audit Committee recommended to the Board of Directors that the audited consolidated financial statements for the year ended December 31, 2016 be included in Gartner’s Annual Report on Form 10-K for the fiscal year ended December 31, 2016 for filing with the Securities and Exchange Commission.

Audit Committee of the Board of Directors Richard J. Bressler Karen E. Dykstra James C. Smith

April 11, 2017


Our Board unanimously recommends that you vote FOR ratification of the appointment of KPMG LLP as the Company’s independent auditor for fiscal 2017.

_____________________

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MISCELLANEOUS

Stockholder Communications Stockholders and other interested parties may communicate with any of our directors by writing to them c/o Corporate Secretary, Gartner, Inc., 56 Top Gallant Road, P.O. 10212, Stamford, CT 06904-2212. All communications other than those which on their face are suspicious, inappropriate or illegible will be delivered to the director to whom they are addressed.

Available Information Our website address is www.gartner.com. The investor relations section of our website is located at www.investor.gartner.com and contains, under the “Corporate Governance” link, current electronic printable copies of our:

� CEO & CFO Code of Ethics which applies to our Chief Executive Officer, Chief Financial Officer, controller and other financial managers

� Global Code of Conduct, which applies to all Gartner officers, directors and employees � Board Principles and Practices, the corporate governance principles that have been adopted by

our Board � Audit Committee Charter � Compensation Committee Charter � Governance/Nominating Committee Charter

This information is also available in print to any stockholder who makes a written request to Investor Relations, Gartner, Inc., 56 Top Gallant Road, P.O. Box 10212, Stamford, CT 06904 - 2212. Process for Submission of Stockholder Proposals for our 2018 Annual Meeting The Company has adopted advance notice requirements related to stockholder business, including director nominations. These requirements are contained in our Bylaws, which can be found at www.investor.gartner.com, under the “Corporate Governance” link, and are summarized below. This summary is qualified by reference to the full Bylaw provision.

If you are a stockholder of record and you want to make a proposal for consideration at the 2018 Annual Meeting without having it included in our proxy materials, we must receive your written notice not less than 90 days prior to the 2018 Annual Meeting; provided, however, that if we fail to give at least 100 days prior notice of this meeting, then we must receive your written notice not more than 10 days after the date on which notice of the 2018 Annual Meeting is mailed.

A stockholder’s notice must set forth certain required information including: (i) a brief description of the business to be brought before the meeting and the reasons therefore; (ii) the name and address of the proposing stockholder and certain associated persons; (iii) the number of shares of Common Stock held by such stockholder and associated persons; (iv) a description of any hedging transactions entered into by such stockholder and persons; (v) any material interest of such stockholder and associated persons in the business to be conducted; and (vi) a statement as to whether a proxy statement and form of proxy will be delivered to other stockholders. In addition, certain information in the notice must be supplemented as of the record date for the meeting. If the stockholder business involves director nominations, the stockholder’s notice must also contain detailed information concerning the nominee, including name, age, principal occupation, interests in Common Stock, any other information regarding the nominee that would be required to be included in a proxy statement under the rules of the SEC had the proposal been made by management, and an acknowledgment by the nominee of the fiduciary duties owed by a director to a corporation and its stockholders under Delaware law. If you do not comply with all of the provisions of our advance notice requirements, then your proposal may not be brought before the 2018 Annual Meeting. All stockholder notices should be addressed to the Corporate Secretary, Gartner, Inc., 56 Top Gallant Road, P.O. Box 10212, Stamford, Connecticut 06904-2212. Additionally, if you want to make a proposal for consideration at next year’s Annual Meeting and have it included in our proxy materials for that meeting, we must receive your proposal by December 12, 2017, and it must comply with all other provisions of the Company’s advance notice requirements as well as the requirements of Exchange Act Rule 14a-8.

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Annual Report A copy of our Annual Report on Form 10-K for the year ended December 31, 2016 (the “2016 10-K”) has been filed with the Securities and Exchange Commission and is available at www.sec.gov. You may also obtain a copy at www.investor.gartner.com. A copy of the 2016 10-K is also contained in our 2016 Annual Report to Stockholders, which accompanies this Proxy Statement. A copy of the 2016 10-K will be mailed to any stockholder who makes a written request to Investor Relations, Gartner, Inc., 56 Top Gallant Road, P.O. Box 10212, Stamford, CT 06904—2212.

By Order of the Board of Directors

Daniel S. Peale Corporate Secretary Stamford, Connecticut April 11, 2017

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APPENDIX A

AMENDED AND RESTATED EXECUTIVE PERFORMANCE BONUS PLAN

GARTNER, INC.

EXECUTIVE PERFORMANCE BONUS PLAN

(Effective January 1, 2018)

TABLE OF CONTENTS

Page

SECTION 1 BACKGROUND, PURPOSE AND DURATION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11.1 Effective Date . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11.2 Purpose of the Plan . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1

SECTION 2 DEFINITIONS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1

SECTION 3 SELECTION OF PARTICIPANTS AND DETERMINATION OF AWARDS . . 33.1 Selection of Participants. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33.2 Determination of Performance Goals . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33.3 Determination of Target Awards. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33.4 Determination of Payout Formula or Formulae . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33.5 Date for Determinations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 43.6 Determination of Actual Awards . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4

SECTION 4 PAYMENT OF AWARDS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 44.1 Right to Receive Payment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 44.2 Timing of Payment. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 44.3 Form of Payment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 44.4 Termination of Employment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 44.5 Forfeiture or Claw-back of Actual Awards. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4

SECTION 5 ADMINISTRATION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 55.1 Committee is the Administrator. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 55.2 Committee Authority . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 55.3 Decisions Binding . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 55.4 Delegation by the Committee . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5

SECTION 6 GENERAL PROVISIONS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 56.1 Tax Withholding . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 56.2 No Effect on Employment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 56.3 Participation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 56.4 Indemnification . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 66.5 Successors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 66.6 Beneficiary Designations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 66.7 Nontransferability of Awards. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 66.8 Deferrals . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 66.9 Section 409A. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6

SECTION 7 AMENDMENT, TERMINATION AND DURATION . . . . . . . . . . . . . . . . . . . . . . . . . . . 77.1 Amendment, Suspension or Termination . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 77.2 Duration of the Plan . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7

SECTION 8 LEGAL CONSTRUCTION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 78.1 Gender and Number . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 78.2 Severability . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 78.3 Requirements of Law . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 78.4 Bonus Plan. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 78.5 Governing Law . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 78.6 Captions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7

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GARTNER, INC.EXECUTIVE PERFORMANCE BONUS PLAN

SECTION 1BACKGROUND, PURPOSE AND DURATION

1.1 Effective Date. Gartner, Inc., having established the Plan effective as of January 1, 2008,hereby amends and restates the Plan effective as of January 1, 2018. The amended and restated Planis subject to ratification by an affirmative vote of the holders of a majority of the Shares that arepresent in person or by proxy and entitled to vote at the 2017 Annual Meeting of Stockholders ofthe Company.

1.2 Purpose of the Plan. The Plan is intended to increase stockholder value and the success ofthe Company by motivating Participants (1) to perform to the best of their abilities, and (2) toachieve the Company’s objectives. The Plan’s goals are to be achieved by providing Participants withthe opportunity to earn incentive awards for the achievement of goals relating to the performance ofthe Company. The Plan is intended to permit the payment of bonuses that are intended to qualify asperformance-based compensation under Section 162(m) of the Code.

SECTION 2DEFINITIONS

The following words and phrases shall have the following meanings unless a different meaning isplainly required by the context:

2.1 “Actual Award” means as to any Performance Period, the actual award (if any) payable toa Participant for the Performance Period. Each Actual Award is determined by the Payout Formulafor the Performance Period, subject to the Committee’s authority under Section 3.6 to eliminate orreduce the award otherwise determined by the Payout Formula.

2.2 “Affiliate” means any corporation or other entity (including, but not limited to, partnershipsand joint ventures) controlled by the Company.

2.3 “Base Salary” means as to any Performance Period, the Participant’s earned salary duringthe Performance Period. Such Base Salary shall be before both (a) deductions for taxes or benefits,and (b) deferrals of compensation pursuant to Company-sponsored plans and Affiliate- sponsoredplans.

2.4 “Board” means the Board of Directors of the Company.

2.5 “Cash Flow” means as to any Performance Period, cash generated from operating activities,free cash flow or total cash flow, in the discretion, may and include cash flow return on investment(calculated by dividing any of the foregoing measures of Cash Flow by total capital).

2.6 “Code” means the Internal Revenue Code of 1986, as amended. Reference to a specificsection of the Code or regulation thereunder shall include such section or regulation, any validregulation promulgated thereunder, and any comparable provision of any future legislation orregulation amending, supplementing or superseding such section or regulation.

2.7 “Committee” means the committee appointed by the Board (pursuant to Section 5.1) toadminister the Plan.

2.8 “Company” means Gartner, Inc., a Delaware corporation, or any successor thereto.

2.9 “Contract Value” means as to any Performance Period, the value attributable to allsubscription-related research products that recognize revenue on a ratable basis. Contract value iscalculated as the annualized value of all subscription research contracts in effect at a specific pointin time, without regard to the duration of the contract.

2.10 “Customer Efficiency” means as to any Performance Period, one or more objective andquantifiable performance measurements interaction with customers and other third-party entities (forexample, but not by way of limitation, client retention, wallet retention, utilization rates, salesperformance, billable headcount and user retention, each as defined by the Committee).

2.11 “Determination Date” means the latest possible date that will not jeopardize a TargetAward or Actual Award’s qualification as performance-based compensation under Section 162(m) ofthe Code.

2.12 “Disability” means a permanent disability in accordance with a policy or policiesestablished by the Committee (in its discretion) from time to time.

2.13 “Earnings Per Share” means as to any Performance Period, the Company’s after-tax Profit,divided by a weighted average number of common shares outstanding and/or dilutive commonequivalent shares deemed outstanding.

2.14 “Employee” means any employee of the Company or of an Affiliate, whether suchemployee is so employed at the time the Plan is adopted or becomes so employed subsequent to theadoption of the Plan.

2.15 “Financial Efficiency” means as to any Performance Period, the percentage equal to Profit(or Revenue) for the Performance Period, divided by a financial metric determined by theCommittee (for example, but not by way of limitation, stockholders’ equity or Revenue). FinancialEfficiency shall include, but not be limited to, return on stockholders’ equity, return on capital,return on assets, return on investment, economic value added and any measure of internal rate ofreturn, each as defined by the Committee.

2.16 “Fiscal Year” means the fiscal year of the Company.

2.17 “Maximum Award” means as to any Participant for any Performance Period, $5 million.

2.18 “Participant” means as to any Performance Period, an Employee who has been selected bythe Committee for participation in the Plan for that Performance Period.

2.19 “Payout Formula” means as to any Performance Period, the formula or payout matrixestablished by the Committee pursuant to Section 3.4 in order to determine the Actual Awards (ifany) to be paid to Participants. The formula or matrix may differ from Participant to Participant.

2.20 “Performance Goals” means the goal(s) (or combined goal(s)) determined by theCommittee (in its discretion) to be applicable to a Participant for a Target Award for a PerformancePeriod. As determined by the Committee, the Performance Goals for any Target Award applicableto a Participant may provide for a targeted level or levels of achievement using one or more of thefollowing measures: (a) Cash Flow, (b) Contract Value, (c) Customer Efficiency, (d) Profit, (e)Revenue, (f) SG&A and (g) Total Stockholder Return. Performance Goals may differ fromParticipant to Participant, Performance Period to Performance Period and from award to award.Any Performance Goal used may be measured (1) in absolute terms, (2) in combination withanother Performance Goal or Goals (for example, but not by way of limitation, as a ratio ormatrix), (3) in relative terms (including, but not limited to, as compared to results for other periodsof time, against other objective metrics, and/or against another company, companies or an index orindices), (4) with respect to equity, assets or human resources of the Company, (including, forexample, on a per-share or per-capita basis), (5) against the performance of the Company as awhole or a specific business unit(s) (including acquired business units), business segment(s) orproduct(s) of the Company, (6) on a pre-tax or after-tax basis and/or (7) on a GAAP (generallyaccepted accounting principles) or non- GAAP basis. For example, but not by way of limitation, theCommittee could determine that bonuses will be earned for a Performance Period for theachievement of goals for Profit calculated before interest, taxes, depreciation and amortization (inother words, EBITDA). As another example, the Committee could determine that bonuses will beearned for a Performance Period for the achievement of goals for Profit divided by the number ofshares of Company common stock that are outstanding (in other words, earnings per share or EPS).Prior to the Determination Date, the Committee, in its discretion, will determine whether anysignificant element(s) or item(s) will be included in or excluded from the calculation of anyPerformance Goal with respect to any Participants (for example, but not by way of limitation, theeffect of mergers, acquisitions and/or dispositions, litigation, restructuring or reorganization programs,and/or changes in tax or other laws). As determined in the discretion of the Committee prior to theDetermination Date, achievement of Performance Goals for a particular Award may be calculated inaccordance with the Company’s financial statements, prepared in accordance with generally accepted

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accounting principles, or as adjusted for certain costs, expenses, gains and losses to provide non-GAAP measures of results.

2.21 “Performance Period” means a Fiscal Year.

2.22 “Plan” means the Gartner, Inc. Executive Performance Bonus Plan, as set forth in thisinstrument and as hereafter amended from time to time.

2.23 “Profit” means as to any Performance Period, a measurement of net income as determinedby the Committee.

2.24 “Retirement” means with respect to any Participant, a Termination of Employmentoccurring in accordance with a policy or policies established by the Committee (in its discretion)from time to time.

2.25 “Revenue” means as to any Performance Period, net revenues generated or to begenerated (backlog) from third parties.

2.26 “SG&A” means as to any Performance Period, any and all selling, general and/oradministrative expenses as reported in a statement of income for the period, or any and all selling,general and/or administrative expenses of the Company or any Affiliate(s) expressed as a percentageof Revenue or Profit.

2.27 “Target Award” means the target award payable under the Plan to a Participant for thePerformance Period, expressed as a percentage of his or her Base Salary, a specific dollar amount ora result of a formula or formulas, as determined by the Committee in accordance with Section 3.3.

2.28 “Termination of Employment” means a cessation of the employee-employer relationshipbetween an Employee and the Company or an Affiliate for any reason, including, but not by way oflimitation, a termination by resignation, discharge, death, Disability, Retirement, or the disaffiliationof an Affiliate, but excluding any such termination where there is a simultaneous reemployment bythe Company or an Affiliate.

2.29 “Total Stockholder Return” means as to any Performance Period, the total return (changein share price plus, as determined by the Committee, reinvestment of any dividends) of a share ofthe Company’s common stock.

SECTION 3SELECTION OF PARTICIPANTS AND DETERMINATION OF AWARDS

3.1 Selection of Participants. The Committee, in its sole discretion, shall select the Employeeswho shall be Participants for any Performance Period. The Committee, in its sole discretion, alsomay designate as Participants one or more individuals (by name or position) who are expected tobecome Employees during a Performance Period. Participation in the Plan is in the sole discretionof the Committee, and shall be determined on a Performance Period by Performance Period basis.Accordingly, an Employee who is a Participant for a given Performance Period in no way isguaranteed or assured of being selected for participation in any subsequent Performance Period.

3.2 Determination of Performance Goals. The Committee, in its sole discretion, shall establishthe Performance Goals for each Participant for the Performance Period. Such Performance Goalsshall be set forth in writing.

3.3 Determination of Target Awards. The Committee, in its sole discretion, shall establish aTarget Award for each Participant. Each Participant’s Target Award shall be determined by theCommittee in its sole discretion, and each Target Award shall be set forth in writing.

3.4 Determination of Payout Formula or Formulae. The Committee, in its sole discretion, shallestablish a Payout Formula or Formulae for purposes of determining the Actual Award (if any)payable to each Participant. Each Payout Formula shall (a) be in writing, (b) be based on acomparison of actual performance to the Performance Goals, (c) provide for the payment of aParticipant’s Target Award if the Performance Goals for the Performance Period are achieved at thepredetermined level, and (d) provide for the payment of an Actual Award greater than or less thanthe Participant’s Target Award, depending upon the extent to which actual performance exceeds or

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falls below the Performance Goals. Notwithstanding the preceding, in no event shall a Participant’sActual Award for any Performance Period exceed the Maximum Award.

3.5 Date for Determinations. The Committee shall make all determinations under Sections 3.1through 3.4 on or before the Determination Date.

3.6 Determination of Actual Awards. After the end of each Performance Period, the Committeeshall certify in writing (for example, in its meeting minutes) the extent to which the PerformanceGoals applicable to each Participant for the Performance Period were achieved or exceeded, asdetermined by the Committee. The Actual Award for each Participant shall be determined byapplying the Payout Formula to the level of actual performance that has been certified in writing bythe Committee, subject to the following. Notwithstanding any contrary provision of the Plan, theCommittee, in its sole discretion, may (a) eliminate or reduce (but not increase) the Actual Awardpayable to any Participant below that which otherwise would be payable under the Payout Formula,and (b) determine whether or not any Participant will receive an Actual Award in the event theParticipant incurs a Termination of Employment prior to the date the Actual Award is to be paidpursuant Section 4.2 below.

SECTION 4PAYMENT OF AWARDS

4.1 Right to Receive Payment. Each Actual Award that may become payable under the Planshall be paid solely from the general assets of the Company or the Affiliate that employs theParticipant (as the case may be), as determined by the Committee. Nothing in this Plan shall beconstrued to create a trust or to establish or evidence any Participant’s claim of any right topayment of an Actual Award other than as an unsecured general creditor with respect to anypayment to which he or she may be entitled.

4.2 Timing of Payment. Subject to Section 3.6, payment of each Actual Award shall be made assoon as administratively practicable, but in no event later than two and one-half months after theend of the applicable Performance Period. Notwithstanding the preceding, if it is impossible orinfeasible for the Committee to certify the results for a Performance Period under Section 3.6 beforethe standard payment deadline described in the preceding sentence (for example, but not by way oflimitation, due to the unavailability of financial information), the payment deadline shall beextended until thirty (30) days after certification, subject to the following: (a) the Company and theCommittee must have used their good faith reasonable efforts to cause certification to occur beforethe standard payment deadline, (b) the Committee must certify the results as soon asadministratively practicable, and (c) notwithstanding any contrary provision of the Plan, payment willbe made only to Participants who do not incur a Termination of Employment before the date onwhich the Actual Award is paid.

4.3 Form of Payment. Each Actual Award shall be paid in cash (or its equivalent) in a singlelump sum.

4.4 Termination of Employment. If a Participant incurs a Termination of Employment for anyreason prior to the end of the Performance Period, such Participant shall not be entitled to anAward. If a Participant incurs a Termination of Employment due to death, disability or aninvoluntary termination prior to the payment of an Actual Award (determined under Section 3.6)that was scheduled to be paid to him or her prior to such Termination of Employment for a priorPerformance Period, the Award shall be paid to the Participant or, if applicable, to his or herdesignated beneficiary or, if no beneficiary has been designated, to his or her estate.

4.5 Forfeiture or Claw-back of Actual Awards. Notwithstanding any contrary provision of thePlan, the Committee (or the Board), in its sole discretion, may require a Participant to forfeit,return or reimburse the Company all or any portion of his or her Actual Award, to the extentrequired by applicable law or provided under any claw-back policy adopted by the Company onaccount of any event of fraud, breach of a fiduciary duty, restatement of financial statements as aresult of fraud or willful errors or omissions, or violation of law or material Company policies. Anysuch policy generally shall be intended to apply substantially equally to all officers of the Company,

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except as the Committee (or the Board or a committee of the Board, as determined by the Board),in its discretion, determines is reasonably necessary or appropriate to comply with applicable laws.

SECTION 5ADMINISTRATION

5.1 Committee is the Administrator. The Plan shall be administered by the Committee. TheCommittee shall consist of not less than two (2) members of the Board. The members of theCommittee shall be appointed from time to time by, and serve at the pleasure of, the Board. Eachmember of the Committee shall qualify as an “outside director” under Section 162(m) of the Code.If it is later determined that one or more members of the Committee do not so qualify, actionstaken by the Committee prior to such determination shall be valid despite such failure to qualify.Any member of the Committee may resign at any time by notice in writing mailed or delivered tothe Secretary of the Company. As of the Effective Date of the Plan, the Plan shall be administeredby the Compensation Committee of the Board.

5.2 Committee Authority. It shall be the duty of the Committee to administer the Plan inaccordance with the Plan’s provisions. The Committee shall have all powers and discretion necessaryor appropriate to administer the Plan and to control its operation, including, but not limited to, thepower to (a) determine which Employees shall be granted awards, (b) prescribe the terms andconditions of awards, (c) interpret the Plan and the awards, (d) adopt such procedures and subplansas are necessary or appropriate to permit participation in the Plan by Employees who are foreignnationals or employed outside of the United States, (e) adopt rules for the administration,interpretation and application of the Plan as are consistent therewith, and (f) interpret, amend orrevoke any such rules.

5.3 Decisions Binding. All interpretations, determinations and decisions made by the Committee,the Board, and any delegate of the Committee pursuant to the provisions of the Plan shall be final,conclusive, and binding on all persons, and shall be given the maximum deference permitted by law.

5.4 Delegation by the Committee. The Committee, in its sole discretion and on such terms andconditions as it may provide, may delegate all or part of its authority and powers under the Plan toone or more directors and/or officers of the Company; provided, however, that the Committee maydelegate its authority and powers only to the extent that the delegation would not be expected tojeopardize the qualification of an Actual Award as performance-based compensation under CodeSection 162(m).

SECTION 6GENERAL PROVISIONS

6.1 Tax Withholding. The Company or an Affiliate, as determined by the Committee, shallwithhold all applicable taxes and any other required amounts from any payment, including (but notlimited to) any federal, Federal Insurance Contributions Act (FICA), state, and local taxes.

6.2 No Effect on Employment. Nothing in the Plan shall interfere with or limit in any way theright of the Company or an Affiliate, as applicable, to terminate any Participant’s employment orservice at any time, with or without cause. For purposes of the Plan, transfer of employment of aParticipant between the Company and any one of its Affiliates (or between Affiliates) shall not bedeemed a Termination of Employment. Employment with the Company and its Affiliates is on anat-will basis only. The Company expressly reserves the right, which may be exercised at any timeand without regard to when during or after a Performance Period such exercise occurs, to terminateany individual’s employment with or without cause, and to treat him or her without regard to theeffect which such treatment might have upon him or her as a Participant.

6.3 Participation. No Employee shall have the right to be selected to receive an award underthis Plan, or, having been so selected, to be selected to receive a future award. Participation in thisPlan shall not give any Employee the right to participate in any other benefit, stock or deferredcompensation plan of the Company or any Affiliate.

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6.4 Indemnification. Each person who is or shall have been a member of the Committee, or ofthe Board, shall be indemnified and held harmless by the Company against and from (a) any loss,cost, liability, or expense that may be imposed upon or reasonably incurred by him or her inconnection with or resulting from any claim, action, suit, or proceeding to which he or she may be aparty or in which he or she may be involved by reason of any action taken or failure to act underthe Plan or any award, and (b) from any and all amounts paid by him or her in settlement thereof,with the Company’s approval, or paid by him or her in satisfaction of any judgment in any suchclaim, action, suit, or proceeding against him or her, provided he or she shall give the Company anopportunity, at its own expense, to handle and defend the same before he or she undertakes tohandle and defend it on his or her own behalf. The foregoing right of indemnification shall not beexclusive of any other rights of indemnification to which such persons may be entitled under theCompany’s Certificate of Incorporation or Bylaws, by contract, as a matter of law, or otherwise, orunder any power that the Company may have to indemnify them or hold them harmless.

6.5 Successors. All obligations of the Company and any Affiliate under the Plan, with respect toawards granted hereunder, shall be binding on any successor to the Company and/or such Affiliate,whether the existence of such successor is the result of a direct or indirect purchase, merger,consolidation, or otherwise, of all or substantially all of the business or assets of the Company orsuch Affiliate.

6.6 Beneficiary Designations.

a. Designation. Each Participant may, pursuant to such uniform and nondiscriminatoryprocedures as the Committee may specify from time to time, designate one or moreBeneficiaries to receive any Actual Award payable to the Participant at the time of his or herdeath. Notwithstanding any contrary provision of this Section 6.6 shall be operative only after(and for so long as) the Committee determines (on a uniform and nondiscriminatory basis) topermit the designation of Beneficiaries.

b. Changes. A Participant may designate different Beneficiaries (or may revoke a priorBeneficiary designation) at any time by delivering a new designation (or revocation of a priordesignation) in like manner. Any designation or revocation shall be effective only if it isreceived by the Committee. However, when so received, the designation or revocation shall beeffective as of the date the designation or revocation is executed (whether or not the Participantstill is living), but without prejudice to the Committee on account of any payment made beforethe change is recorded. The last effective designation received by the Committee shall supersedeall prior designations.

c. Failed Designation. If the Committee does not make this Section 6.6 operative or ifParticipant dies without having effectively designated a Beneficiary, the Participant’s Accountshall be payable to the general beneficiary shown on the records of the Employer. If noBeneficiary survives the Participant, the Participant’s Account shall be payable to his or herestate.

6.7 Nontransferability of Awards. No award granted under the Plan may be sold, transferred,pledged, assigned, or otherwise alienated or hypothecated, other than by will, by the laws of descentand distribution, or to the limited extent provided in Section 6.6. All rights with respect to an awardgranted to a Participant shall be available during his or her lifetime only to the Participant.

6.8 Deferrals. The Committee, in its sole discretion, may permit a Participant to defer receipt ofthe payment of cash that would otherwise be delivered to a Participant under the Plan. Any suchdeferral elections shall be made into the Gartner, Inc. Deferred Compensation Plan (or such othersimilar nonqualified deferred compensation plan in effect at the time) and subject to such rules andprocedures as shall be determined by the Committee in its sole discretion. Unless otherwiseexpressly determined by the Committee, the rules and procedures for any deferral elections anddeferrals shall be designed to comply with Section 409A of the Code.

6.9 Section 409A. Except to the limited extent provided under Section 6.8, it is intended that allbonuses payable under this Plan will be exempt from the requirements of Section 409A pursuant tothe “short-term deferral” exemption or, in the alternative, will comply with the requirements of

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Section 409A so that none of the payments and benefits to be provided under this Plan will besubject to the additional tax imposed under Section 409A, and any ambiguities or ambiguous termsherein shall be interpreted to so comply or be exempt. Each payment and benefit payable under thisPlan is intended to constitute a separate payment for purposes of Section 1.409A-2(b)(2) of theTreasury Regulations. The Company may, in good faith and without the consent of any Participant,make any amendments to this Plan and take such reasonable actions which it deems necessary,appropriate or desirable to avoid imposition of any additional tax or income recognition underSection 409A prior to actual payment to the Participant. However, unless explicitly determinedotherwise in writing by the Committee, in no event will the Company or any Affiliate pay orreimburse any Participant for any taxes or other costs that may be imposed on the Participant as aresult of Section 409A or any other section of the Code or other tax rule or regulation.

SECTION 7AMENDMENT, TERMINATION AND DURATION

7.1 Amendment, Suspension or Termination. The Board or the Committee, each in its solediscretion, may amend or terminate the Plan, or any part thereof, at any time and for any reason.The amendment, suspension or termination of the Plan shall not, without the consent of theParticipant, alter or impair any rights or obligations under any Target Award theretofore granted tosuch Participant. No award may be granted during any period of suspension or after termination ofthe Plan.

7.2 Duration of the Plan. The Plan shall commence on the date specified herein, and subject toSection 7.1 (regarding the Board or the Committee’s right to amend or terminate the Plan), shallremain in effect thereafter.

SECTION 8LEGAL CONSTRUCTION

8.1 Gender and Number. Except where otherwise indicated by the context, any masculine termused herein also shall include the feminine; the plural shall include the singular and the singularshall include the plural.

8.2 Severability. In the event any provision of the Plan shall be held illegal or invalid for anyreason, the illegality or invalidity shall not affect the remaining parts of the Plan, and the Plan shallbe construed and enforced as if the illegal or invalid provision had not been included.

8.3 Requirements of Law. The granting of awards under the Plan shall be subject to allapplicable laws, rules and regulations, and to such approvals by any governmental agencies ornational securities exchanges as may be required.

8.4 Bonus Plan. The Plan is intended to be a “bonus program” as defined under U.S.Department of Labor regulation section 2510.3-2(c) and shall be construed and administered by theCompany in accordance with such intention.

8.5 Governing Law. The Plan and all awards shall be construed in accordance with andgoverned by the laws of the State of Connecticut, but without regard to its conflict of lawprovisions.

8.6 Captions. Captions are provided herein for convenience only, and shall not serve as a basisfor interpretation or construction of the Plan.

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EXECUTION

IN WITNESS WHEREOF, Gartner, Inc., by its duly authorized officer, has executed the Planon the date indicated below.

GARTNER, INC.

Dated: January 31, 2017 By: /s/ Craig Safian

Name: Craig SafianTitle: SVP, CFO

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2016 Annual Reporton Form 10-K

87990 AnnRpt_10K_fin_181782_2016AnnualReport_10K_R1a.indd 1 3/30/17 10:13 PM

UNITED STATESSECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 10-K� ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934For the fiscal year ended December 31, 2016

OR

� TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)OF THE SECURITIES EXCHANGE ACT OF 1934

Commission file number: 1-14443

GARTNER, INC.(Exact name of registrant as specified in its charter)

Delaware(State or other jurisdiction ofincorporation or organization)

04-3099750(I.R.S. Employer Identification No.)

P.O. Box 1021256 Top Gallant Road Stamford, CT

(Address of principal executive offices)

06902-7700(Zip Code)

(203) 316-1111(Registrant’s telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act:Title of each class Name of each exchange on which registered

Common Stock, $.0005 par value per share New York Stock Exchange

Securities registered pursuant to Section 12(g) of the Act:None

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of theSecurities Act. Yes � No �

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section15(d) of the Exchange Act. Yes � No �

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter periodthat the registrant was required to file such reports), and (2) has been subject to such filing requirements forthe past 90 days. Yes � No �

Indicate by check mark whether the registrant has submitted electronically and posted on its corporateWeb site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 ofRegulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that theregistrant was required to submit and post such files). Yes � No �

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K is notcontained herein, and will not be contained, to the best of registrant’s knowledge, in definitive proxy orinformation statements incorporated by reference in Part III of this Form 10-K or any amendment to thisForm 10-K. �

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “acceleratedfiler” and “smaller reporting company” in Rule 12b-2 of the Exchange Act:

Large accelerated filer � Accelerated filer � Non-accelerated filer � Smaller reporting company �

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of theExchange Act). Yes � No �

As of June 30, 2016, the aggregate market value of the registrant’s common stock held by non-affiliates ofthe registrant was $7,771,510,947 based on the closing sale price as reported on the New York Stock Exchange.

The number of shares outstanding of the registrant’s common stock was 82,652,880 as of January 31, 2017.

DOCUMENTS INCORPORATED BY REFERENCEDocument Parts Into Which Incorporated

Proxy Statement for the Annual Meeting ofStockholders to be held

(Proxy Statement)

Part III

GARTNER, INC.

2016 ANNUAL REPORT ON FORM 10-K

TABLE OF CONTENTS

PART I

ITEM 1. BUSINESS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3

ITEM 1A. RISK FACTORS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7

ITEM 1B. UNRESOLVED STAFF COMMENTS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17

ITEM 2. PROPERTIES . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17

ITEM 3. LEGAL PROCEEDINGS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18

ITEM 4. MINE SAFETY DISCLOSURES (not applicable) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18

PART II

ITEM 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATEDSTOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITYSECURITIES. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19

ITEM 6. SELECTED FINANCIAL DATA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20

ITEM 7. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIALCONDITION AND RESULTS OF OPERATIONS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22

ITEM 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKETRISK . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 41

ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA . . . . . . . . . . . . . . . . . . 42

ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ONACCOUNTING AND FINANCIAL DISCLOSURE. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 42

ITEM 9A. CONTROLS AND PROCEDURES . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 42

ITEM 9B. OTHER INFORMATION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 43

PART III

ITEM 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE . . 44

ITEM 11. EXECUTIVE COMPENSATION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 44

ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS ANDMANAGEMENT AND RELATED STOCKHOLDER MATTERS . . . . . . . . . . . . . . 44

ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS ANDDIRECTOR INDEPENDENCE. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 44

ITEM 14. PRINCIPAL ACCOUNTANT FEES AND SERVICES. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 44

PART IV

ITEM 15. EXHIBITS AND FINANCIAL STATEMENT SCHEDULES . . . . . . . . . . . . . . . . . . . . . . 45

INDEX TO CONSOLIDATED FINANCIAL STATEMENTS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 47

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM . . . . . . . . . . . . . . . 48

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM . . . . . . . . . . . . . . . 49

CONSOLIDATED BALANCE SHEETS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 50

CONSOLIDATED STATEMENTS OF OPERATIONS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 51

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME . . . . . . . . . . . . . . . . . . . . . . . . . 52

CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY (DEFICIT) . . . . . . . . . . . . . . 53

CONSOLIDATED STATEMENTS OF CASH FLOWS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 54

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 55

SIGNATURES . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 87

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PART I

ITEM 1. BUSINESS.

GENERAL

Gartner, Inc. (“Gartner”) (NYSE: IT) is the world’s leading information technology (“IT”)research and advisory company. We deliver the technology-related insight necessary for our clientsto make the right decisions, every day. From CIOs and senior IT leaders in corporations andgovernment agencies, to business leaders in high-tech and telecom enterprises and professionalservices firms, to supply chain professionals, marketing professionals and technology investors, weare a valuable partner to clients. As of December 31, 2016, we had clients in 11,122 distinctenterprises. We work with clients to research, analyze and interpret the business of IT, supply chain,and marketing within the context of their individual roles. Founded in 1979, Gartner isheadquartered in Stamford, Connecticut, U.S.A., and as of December 31, 2016, had 8,813 employees,including 1,922 research analysts and consultants, and clients in over 90 countries.

The foundation for all Gartner products and services is our independent research on IT, supplychain, and digital marketing initiatives. The findings from this research are delivered through ourthree business segments—Research, Consulting and Events:

• Research provides objective and timely insight on critical technology, supply chain, and digitalmarketing initiatives for CIOs and other IT professionals, supply chain leaders, marketing andother business professionals, as well as technology companies, professional services companies,and the institutional investment community. We provide this insight through reports, briefings,proprietary tools, access to our analysts, peer networking services and membership programsthat enable our clients to make better decisions about their IT, supply chain and digitalmarketing initiatives.

• Consulting provides customized solutions to unique client needs through on-site, day-to-daysupport, as well as proprietary tools for benchmarking IT performance with a focus on cost,performance, efficiency and quality.

• Events provides IT, supply chain, marketing, and other business professionals the opportunityto attend various symposia, conferences and exhibitions to learn, contribute and network withtheir peers. From our flagship event Symposium/ITxpo, to summits focused on specifictechnologies and industries, to experimental workshop-style seminars, our events distill thelatest Gartner research into applicable insight and advice.

For more information regarding Gartner and our products and services, visit gartner.com.References to “the Company,” “we,” “our,” and “us” are to Gartner, Inc. and its consolidatedsubsidiaries.

MARKET OVERVIEW

Technological innovations are changing how businesses and other organizations plan and operateand at an increasingly rapid pace. Today, everyone is living and working in the midst of atechnological revolution in which technology is seen as increasingly driving organizational strategiesrather than just supporting them. The nexus of four powerful forces—social, mobile, cloud andinformation, coupled with the “Internet of things”—are blurring the line between the physical anddigital worlds, creating unprecedented change on a scale not seen before facing every organizationaround the world, from business enterprises and units within enterprises of every size, togovernments and government agencies, as well as other organizations. The rate and pace oftechnology innovation and change is rapid. Trends such as digital, cloud, the “Internet of things,”and cyber-security threats are creating unprecedented change for every organization around theworld, from business enterprises and units within business enterprises of every size, across everyvertical industry (including governments, public sector, and not-for-profit), and in every majorgeography. We believe this technology revolution will remain vibrant for decades to come.

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Information technology is critical to supporting increased productivity, service and performanceimprovement, revenue growth, and protecting the enterprise from cyber-security threats. As the costsof IT solutions continue to rise, executives and professionals have realized the importance of makingwell-informed decisions and increasingly seek to maximize their returns on IT capital investments.As a result, every IT investment decision in an enterprise is subject to increased financial scrutiny,especially in the current challenging economic climate. In addition, today’s IT marketplace isdynamic and complex. Technology providers continually introduce new products with a wide varietyof standards and features that are prone to shorter life cycles. Users of technology—a group thatencompasses nearly all organizations—must keep abreast of new developments in technology toensure that their IT systems are reliable, efficient, secure, and meet both their current and futureneeds. Given the strategic and critical nature of technology decision-making and spending, businessenterprises, governments and their agencies, and other organizations turn to Gartner for guidance inorder to make the right decisions to maximize the value of their IT investments.

OUR SOLUTION

We provide our clients with the insight they need to understand where—and how—tosuccessfully harness technology to achieve their mission critical priorities. We employ a diversifiedbusiness model that utilizes and leverages the breadth and depth of our intellectual capital. Thefoundation of our business model is our ability to create and distribute our proprietary researchcontent as broadly as possible via published reports, interactive tools, facilitated peer networking,briefings, consulting and advisory services, and our events, including the Gartner Symposium/ITxposeries.

We had 1,294 analysts as of December 31, 2016 located around the world who createcompelling, relevant, independent and objective research and fact-based analysis on every major ITinitiative and all aspects of the IT industry, including supply chain and digital marketing initiatives.Through our robust product portfolio, our global research team provides thought leadership andtechnology insights that CIOs, supply chain professionals, marketing professionals, executives andother technology practitioners need to make the right decisions, every day. In addition to ouranalysts, as of December 31, 2016 we had 628 experienced consultants who combine our objective,independent research with a practical business perspective focused on the IT industry. Finally, ourevents are the largest of their kind, gathering together highly qualified audiences that include CIOsand other IT executives, frontline IT architects and professionals, supply chain leaders, marketingleaders, and purchasers and providers of technology and supply chain products and services.

PRODUCTS AND SERVICES

Our diversified business model provides multiple entry points and sources of value for ourclients that facilitate increased client spending on our research, consulting services and events. Acritical part of our long-term strategy is to increase business volume and penetration with our mostvaluable clients, identifying relationships with the greatest sales potential and expanding thoserelationships by offering strategically relevant research and advice. We also seek to extend theGartner brand name to develop new client relationships, augment our sales capacity, and expandinto new markets around the world. In addition, we seek to increase our revenue and operating cashflow through more effective pricing of our products and services. These initiatives have createdadditional revenue streams through more effective packaging, campaigning and cross-selling of ourproducts and services.

Our principal products and services are delivered through our Research, Consulting and Eventsbusinesses:

• RESEARCH. Gartner delivers independent, objective technology, supply chain and marketingresearch and insight primarily through a subscription-based, digital media service. Gartnerresearch is the fundamental building block for all Gartner services and covers all technology-related markets, topics and industries, as well as supply chain and digital marketing initiatives.We combine our proprietary research methodologies with extensive industry and academicrelationships to create Gartner solutions that address each role within the IT, supply chain,

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and marketing organization. Our research agenda is defined by clients’ needs, focusing on thecritical issues, opportunities and challenges they face every day. Our research analysts are inregular contact with both technology providers and technology users, enabling them toidentify the most pertinent topics in the IT marketplace and develop relevant productenhancements to meet the evolving needs of users of our research. They provide in-depthanalysis on all aspects of technology, including hardware; software and systems; services; ITmanagement; market data and forecasts; and vertical-industry issues. Our proprietary researchcontent, presented in the form of reports, briefings, updates and related tools, is delivereddirectly to the client’s desktop via our website and/or product-specific portals. Clientsnormally sign subscription contracts that provide access to our research content for individualusers over a defined period of time. We typically have a minimum contract period of12 months for our research subscription contracts and currently almost half of our contractsare multi-year.

• CONSULTING. Gartner Consulting deepens relationships with our largest Research clients byextending the reach of our research through custom consulting engagements. GartnerConsulting brings together our unique research insight, benchmarking data, problem-solvingmethodologies and hands-on experience to improve the return on a client’s IT investment.Our consultants provide fact-based consulting services to help clients use and manage IT tooptimize business performance.

Consulting solutions capitalize on Gartner assets that are invaluable to IT decision making,including: (1) our extensive research, which ensures that our consulting analyses and adviceare based on a deep understanding of the IT environment and the business of IT; (2) ourmarket independence, which keeps our consultants focused on our clients’ success; and (3) ourmarket-leading benchmarking capabilities, which provide relevant comparisons and bestpractices to assess and improve performance. Gartner Consulting provides solutions to CIOsand other IT executives, and to those professionals responsible for IT applications, enterprisearchitecture, go-to-market strategies, infrastructure and operations, program and portfoliomanagement, and sourcing and vendor relationships. Consulting also provides targetedconsulting services to professionals in specific industries. Finally, we provide actionablesolutions for IT cost optimization, technology modernization and IT sourcing optimizationinitiatives.

• EVENTS. Gartner Symposium/ITxpo events and Gartner Summit events are gatherings oftechnology’s most senior IT professionals, business strategists and practitioners. Our eventsoffer current, relevant and actionable technology sessions led by Gartner analysts. Thesesessions are augmented with technology showcases, peer exchanges, analyst one-on-onemeetings, workshops and keynotes by technology’s top leaders. They also provide attendeeswith an opportunity to interact with business executives from the world’s leading technologycompanies.

Gartner Summit events focus on specific topics or roles, providing IT professionals with theinsight, solutions, and peer networking opportunities to succeed in their job role. Our Catalystconferences are the premier events for front-line IT technical professionals and architects. OurSupply Chain and Digital Marketing conferences are the premier gatherings for senior supplychain and marketing leaders.

COMPETITION

We believe that the principal factors that differentiate us from our competitors are thefollowing:

• Superior IT research content—We believe that we create the broadest, highest-quality andmost relevant research coverage of the IT industry, with offerings for every member of an ITorganization. Our research analysis generates unbiased insight that we believe is timely,thought-provoking and comprehensive, and that is known for its high quality, independenceand objectivity.

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• Our leading brand name—We have provided critical, trusted insight under the Gartner namefor over 35 years.

• Our global footprint and established customer base—We have a global presence with clientsin over 90 countries on six continents. A substantial portion of our revenues is derived fromsales outside of the United States.

• Experienced management team—Our management team is composed of research veterans andexperienced industry executives with long tenure at Gartner.

• Substantial operating leverage in our business model—We have the ability to distribute ourintellectual property and expertise across multiple platforms, including research publications,consulting engagements, conferences and executive programs, to derive incremental revenueand profitability.

• Vast network of analysts and consultants—As of December 31, 2016, we had 1,922 researchanalysts and consultants located around the world. Our analysts collectively speak50 languages and are located in 26 countries, enabling us to cover all aspects of IT on aglobal basis.

Notwithstanding these differentiating factors, we face competition from a significant number ofindependent providers of information products and services. We compete indirectly with consultingfirms and other information providers, including electronic and print media companies. Theseindirect competitors could choose to compete directly with us in the future. In addition, we facecompetition from free sources of information that are available to our clients through the Internet.Limited barriers to entry exist in the markets in which we do business. As a result, new competitorsmay emerge and existing competitors may start to provide additional or complementary services.While we believe the breadth and depth of our research assets position us well versus ourcompetition, increased competition could result in loss of market share, diminished value in ourproducts and services, reduced pricing, and increased sales and marketing expenditures.

INTELLECTUAL PROPERTY

Our success has resulted in part from proprietary methodologies, software, reusable knowledgecapital and other intellectual property rights. We rely on a combination of patent, copyright,trademark, trade secret, confidentiality, non-compete and other contractual provisions to protect ourintellectual property rights. We have policies related to confidentiality, ownership, and the use andprotection of Gartner’s intellectual property. We also enter into agreements with our employees asappropriate that protect our intellectual property, and we enforce these agreements if necessary. Werecognize the value of our intellectual property in the marketplace and vigorously identify, createand protect it. Additionally, we actively monitor and enforce contract compliance by our end users.

EMPLOYEES

We had 8,813 employees as of December 31, 2016, an increase of 13% compared to the prioryear as we continued to invest for future growth. We had 1,327 employees located at ourheadquarters facility in Stamford, Connecticut and a nearby office in Trumbull, Connecticut; 1,160employees located at our Ft. Myers, Florida offices; and 2,550 employees located elsewhere in theUnited States in 36 other offices. We had 3,776 employees located outside of the United States in67 offices at December 31, 2016, with 932 of those employees located in Egham, the UnitedKingdom. Our employees may be subject to collective bargaining agreements at a company orindustry level, or works councils, in those foreign countries where this is part of the local labor lawor practice. We have experienced no work stoppages and consider our relations with our employeesto be favorable.

SUBSEQUENT EVENT

On January 5, 2017, Gartner and CEB Inc. (NYSE: CEB) (“CEB”), an industry leader inproviding best practice and talent management insights, announced that they had entered into a

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definitive agreement whereby Gartner will acquire all of the outstanding shares of CEB in a cashand stock transaction valued at approximately $2.6 billion. Gartner will also assume (and refinance)approximately $0.9 billion in CEB debt. For additional information, see Note 16—Subsequent Eventsin the Notes to the Consolidated Financial Statements included in this Annual Report onForm 10-K.

AVAILABLE INFORMATION

Our Internet address is www.gartner.com and the Investor Relations section of our website islocated at www.investor.gartner.com. We make available free of charge, on or through the InvestorRelations section of our website, printable copies of our annual reports on Form 10-K, quarterlyreports on Form 10-Q, current reports on Form 8-K and amendments to those reports filed orfurnished pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended(the “Exchange Act”) as soon as reasonably practicable after we electronically file such materialwith, or furnish it to, the Securities and Exchange Commission (the “SEC”).

Also available at www.investor.gartner.com, under the “Corporate Governance” link, areprintable and current copies of our (i) CEO & CFO Code of Ethics which applies to our ChiefExecutive Officer, Chief Financial Officer, Controller and other financial managers, (ii) Global Codeof Conduct, which applies to all Gartner officers, directors and employees, wherever located, (iii)Board Principles and Practices, the corporate governance principles that have been adopted by ourBoard and (iv) charters for each of the Board’s standing committees: Audit, Compensation andGovernance/Nominating.

ITEM 1A. RISK FACTORS

We operate in a highly competitive and rapidly changing environment that involves numerousrisks and uncertainties, some of which are beyond our control. In addition, we and our clients areaffected by global economic conditions and trends. The following sections discuss many, but not all, ofthe risks and uncertainties that may affect our future performance, but is not intended to be all-inclusive. Any of the risks described below could have a material adverse impact on our business,prospects, results of operations, financial condition, and cash flows, and could therefore have anegative effect on the trading price of our common stock. Additionally risks not currently known to usor that we now deem immaterial may also harm us and negatively affect your investment.

Risks related to our proposed merger with CEB Inc.

We may not complete the proposed transaction with CEB within the timeframe we anticipate or atall, which could have a negative effect on our results of operations. On January 5, 2017, weannounced together with CEB Inc. (NYSE: CEB) (“CEB”) that we entered into a definitiveagreement whereby we will acquire all of the outstanding shares of CEB in a cash and stocktransaction valued at approximately $2.6 billion. We will also assume and refinance approximately$0.9 billion of CEB debt. The transaction has been unanimously approved by the Boards ofDirectors of both companies. Closing of the transaction is subject to the approval of CEBshareholders and the satisfaction of customary closing conditions. The transaction is also subject toother risks and uncertainties, such as the possibility that CEB could receive an unsolicited proposalfrom a third party or that either we or CEB could exercise our respective termination rights. If thetransaction is not consummated or is materially delayed for any reason, we will have spentconsiderable time and resources, and incurred substantial costs related to the merger, many of whichmust be paid even if the merger is not consummated. We cannot provide any assurance that thetransaction will be consummated, that there will not be a delay in the consummation of the merger,or that all or any of the anticipated benefits and cost synergies of the transaction will be obtained. Ifthe merger is not consummated, our reputation in our industry and in the investment communitycould be damaged, and the market price of our common stock could decline.

We may not be able to obtain our preferred form of financing to consummate the merger, andthe terms of the financing may be less favorable to us than expected, depending on market conditions.

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There is no financing condition under the merger agreement, which means that if the conditions toclosing are otherwise satisfied or waived, we are obligated to consummate the merger whether ornot we have sufficient funds to pay the consideration under the merger agreement. We currentlyintend to finance the cash portion of the merger consideration, repay and redeem certainoutstanding indebtedness of CEB and its subsidiaries and pay related fees and expenses inconnection with the merger using a combination of new term loans, proceeds from the issuance ofdebt securities (or, to extent such debt securities are not issued, borrowings under a high-yieldbridge credit facility), borrowings under a 364-day credit facility, borrowings under our existingrevolving credit facility, and cash on hand.

Although we have obtained debt commitments from certain lenders in connection with ourfinancing plan, such commitment is subject to a number of conditions and we cannot provide anyassurances that we will be able to close the financing as anticipated. In addition, although the debtcommitment letter for the financing specifies a number of terms for the different facilities, we retainsome exposure to changes in pricing and other terms based on market conditions at the time thefinancing is consummated, which could result in less favorable terms for the financing than expected.The terms of the expected issuance of debt securities are not committed, and the pricing and termsof such debt securities may be less favorable than expected. If terms for the debt financing are lessfavorable than expected, financing costs could increase, potentially significantly, and our financing oroperating flexibility may be constrained. In addition, the short tenor of the 364-day credit facility,together with duration fees, pricing step-ups and other terms of the 364-day credit facility and high-yield bridge credit facility (if drawn), provide significant economic incentive for us to refinance thosefacilities, which could result in us accessing the market at a less favorable time than we wouldotherwise choose. If we cannot close on any element of our financing plan, we will need to pursueother financing options, which may result in less favorable financing terms that could increase costsand/or materially adversely affect the credit rating or financing and operating flexibility of thecombined company.

If the merger agreement is terminated, we may, under certain circumstances, be obligated to pay atermination fee to CEB. These costs could require us to use available cash that would have otherwisebeen available for general corporate purposes. If the merger agreement is terminated in certaincircumstances, we would be required to pay CEB a reverse termination fee of $125.0 million. If themerger agreement is terminated, we may decide to pay the termination fee from available cash thatwe would have otherwise used for general corporate purposes. For these and other reasons, a failedmerger could materially adversely affect our business, operating results, financial condition and cashflows, or the price per share of our common stock.

We may experience difficulties in integrating our operations with CEB’s and realizing the expectedbenefits of the transaction with CEB. The success of the transaction with CEB, if consummated, willdepend in part on our ability to realize the anticipated business opportunities and growth prospectsfrom combining with CEB in an efficient and effective manner. We may never realize these businessopportunities and growth prospects. Further, our management might have its attention diverted whiletrying to integrate operations and corporate and administrative infrastructures. CEB will continue tooperate independently of us until the consummation of the transaction. The integration process couldtake longer than anticipated and could result in the loss of key employees, the disruption of eachcompany’s ongoing businesses, tax costs or inefficiencies, or inconsistencies in standards, controls,information technology systems, procedures and policies, any of which could materially adverselyaffect our ability to maintain relationships with customers, employees or other third parties, or ourability to achieve the anticipated benefits of the transaction, and could harm our financialperformance. If we are unable to successfully or timely integrate the operations of CEB’s businesswith our business, we may incur unanticipated liabilities and be unable to realize the revenuegrowth, synergies and other anticipated benefits resulting from the proposed transaction, and ourbusiness, results of operations and financial condition could be materially adversely affected.

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Risks related to our business

Our operating results could be negatively impacted by global economic conditions. Our businessis impacted by general economic conditions and trends, in the United States and abroad. Globaleconomic growth, including in the United States, has been subdued in recent years and there isconcern this trend will continue in 2017. Terrorist attacks around the world and significant politicalshifts, such as the change in U.S. political leadership, have added additional uncertainty and risks tothe economic environment. These trends and conditions could negatively and materially affect futuredemand for our products and services in general, in certain geographic regions, or in particularindustry sectors. Such difficulties could include the ability to maintain client retention, walletretention and consulting utilization rates, achieve contract value and consulting backlog growth,attract attendees and exhibitors to our events or obtain new clients. Such developments couldnegatively impact our financial condition, results of operations, and cash flows.

We face significant competition and our failure to compete successfully could materially adverselyaffect our results of operations, financial condition, and cash flows. We face direct competition froma significant number of independent providers of information products and services, includinginformation available on the Internet free of charge. We also compete indirectly against consultingfirms and other information providers, including electronic and print media companies, some ofwhich may have greater financial, information gathering and marketing resources than we do. Theseindirect competitors could also choose to compete directly with us in the future. In addition, lowbarriers to entry exist in the markets in which we do business. As a result, new competitors mayemerge and existing competitors may start to provide additional or complementary services.Additionally, technological advances may provide increased competition from a variety of sources.

There can be no assurance that we will be able to successfully compete against current andfuture competitors and our failure to do so could result in loss of market share, diminished value inour products and services, reduced pricing and increased marketing expenditures. Furthermore, wemay not be successful if we cannot compete effectively on quality of research and analysis, timelydelivery of information, customer service, and the ability to offer products to meet changing marketneeds for information and analysis, or price.

We may not be able to maintain the quality of our existing products and services. We operate ina rapidly evolving market, and our success depends upon our ability to deliver high quality andtimely research and analysis to our clients. Any failure to continue to provide credible and reliableinformation that is useful to our clients could have a material adverse effect on future business andoperating results. Further, if our published data, opinions or viewpoints prove to be wrong or arenot substantiated by appropriate research, our reputation may suffer and demand for our productsand services may decline. In addition, we must continue to improve our methods for delivering ourproducts and services in a cost-effective manner via the Internet and mobile applications. Failure tomaintain state of the art electronic delivery capabilities could materially adversely affect our futurebusiness and operating results.

We may not be able to enhance and develop our existing products and services, or introduce thenew products and services that are needed to remain competitive. The market for our products andservices is characterized by rapidly changing needs for information and analysis on the IT industry asa whole. The development of new products is a complex and time-consuming process. Nonetheless,to maintain our competitive position, we must continue to anticipate the needs of our clientorganizations, develop, enhance and improve our existing as well as new products and services toaddress those needs, deliver all products and services in a timely, user-friendly and state of the artmanner, and appropriately position and price new products and services relative to the marketplaceand our costs of developing them. Any failure to achieve successful client acceptance of newproducts and services could have a material adverse effect on our business, results of operations andfinancial position. Additionally, significant delays in new product or service releases or significantproblems in creating new products or services could materially adversely affect our business, resultsof operations and financial position.

Technology is rapidly evolving, and if we do not continue to develop new product and serviceofferings in response to these changes, our business could suffer. Disruptive technologies are rapidly

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changing the environment in which we, our clients, and our competitors operate. We will need tocontinue to respond to these changes by enhancing our product and service offerings in order tomaintain our competitive position. However, we may not be successful in responding to these forcesand enhance our products on a timely basis, and any enhancements we develop may not adequatelyaddress the changing needs of our clients. Our future success will depend upon our ability todevelop and introduce in a timely manner new or enhanced existing offerings that address thechanging needs of this constantly evolving marketplace. Failure to develop products that meet theneeds of our clients in a timely manner could have a material adverse effect on our business, resultsof operations, and financial position.

We depend on renewals of subscription-based services and sales of new subscription-basedservices for a significant portion of our revenue, and our failure to renew at historical rates orgenerate new sales of such services could lead to a decrease in our revenues. A large portion of oursuccess depends on our ability to generate renewals of our subscription-based research products andservices and new sales of such products and services, both to new clients and existing clients. Theseproducts and services constituted approximately 75% and 73% of our total revenues for 2016 and2015, respectively. Generating new sales of our subscription-based products and services, both to newand existing clients, is a challenging, costly, and often time consuming process. If we are unable togenerate new sales, due to competition or other factors, our revenues will be adversely affected.

Our research subscription contracts are typically for 12-months or longer. Our ability tomaintain contract renewals is subject to numerous factors, including the following:

• delivering high-quality and timely analysis and advice to our clients;

• understanding and anticipating market trends and the changing needs of our clients; and

• providing products and services of the quality and timeliness necessary to withstandcompetition.

Additionally, as we continue to adjust our products and service offerings to meet our clients’continuing needs, we may shift the type and pricing of our products which may impact clientrenewal rates. While our Research client retention rate was 84% at both December 31, 2016 and2015, there can be no guarantee that we will continue to maintain this rate of client renewals.

We depend on non-recurring consulting engagements and our failure to secure new engagementscould lead to a decrease in our revenues. Consulting segment revenues constituted 14% of our totalrevenues in 2016 and 15% in 2015. Consulting engagements typically are project-based and non-recurring. Our ability to replace consulting engagements is subject to numerous factors, including thefollowing:

• delivering consistent, high-quality consulting services to our clients;

• tailoring our consulting services to the changing needs of our clients; and

• our ability to match the skills and competencies of our consulting staff to the skills requiredfor the fulfillment of existing or potential consulting engagements.

Any material decline in our ability to replace consulting engagements could have an adverseimpact on our revenues and our financial condition. In addition, revenue from our contractoptimization business can fluctuate significantly from period to period and is not predictable.

The profitability and success of our conferences, symposia and events could be adversely affectedby external factors beyond our control. The market for desirable dates and locations for conferences,symposia and events is highly competitive. If we cannot secure desirable dates and suitable venuesfor our conferences, symposia and events their profitability could suffer, and our financial conditionand results of operations may be adversely affected. In addition, because our events are scheduled inadvance and held at specific locations, the success of these events can be affected by circumstancesoutside of our control, such as labor strikes, transportation shutdowns and travel restrictions,economic slowdowns, reductions in government spending, geo-political crises, terrorist attacks, war,weather, natural disasters, communicable diseases, and other occurrences impacting the global,regional, or national economies, the occurrence of any of which could negatively impact the success

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of the event. We also face the challenge of procuring venues that are sizeable enough at areasonable cost to accommodate some of our major events.

Our sales to governments are subject to appropriations and may be terminated. We derivesignificant revenues from research and consulting contracts with the United States government andits respective agencies, numerous state and local governments and their respective agencies, andforeign governments and their agencies. At December 31, 2016 and 2015, approximately$355.0 million and $345.0 million, respectively, of our total contracts were attributable to governmententities. Our U.S. government contracts are subject to the approval of appropriations by the U.S.Congress to fund the agencies contracting for our services. Additionally, our contracts at the stateand local levels, as well as foreign government contracts, are subject to various governmentalauthorizations and funding approvals and mechanisms. In general, most if not all of these contractsmay be terminated at any time without cause or penalty (“termination for convenience”). Similarly,contracts with U.S. federal, state and local, and foreign governments and their respective agenciesare subject to increasingly complex bidding procedures, compliance requirements and intensecompetition. Should appropriations for the governments and agencies that contract with us becurtailed, or should our government contracts be terminated for convenience, we may experience asignificant loss of revenues.

We may not be able to attract and retain qualified personnel which could jeopardize our futuregrowth plans, as well as the quality of our products and services. Our success depends heavily uponthe quality of our senior management, research analysts, consultants, sales and other key personnel.We face competition for qualified professionals from, among others, technology companies, marketresearch firms, consulting firms, financial services companies and electronic and print mediacompanies, some of which have a greater ability to attract and compensate these professionals.Additionally, some of the personnel that we attempt to hire are subject to non-compete agreementsthat could impede our short-term recruitment efforts. Any inability to retain key personnel, or tohire and train additional qualified personnel to support the evolving needs of clients or the projectedgrowth in our business, could materially adversely affect the quality of our products and services, aswell as future business and operating results.

We may not be able to maintain the equity in our brand name. We believe that our “Gartner”brand, including our independence, is critical to our efforts to attract and retain clients and that theimportance of brand recognition will increase as competition increases. We may expand ourmarketing activities to promote and strengthen the Gartner brand and may need to increase ourmarketing budget, hire additional marketing and public relations personnel, and expend additionalsums to protect our brand and otherwise increase expenditures to create and maintain client brandloyalty. If we fail to effectively promote and maintain the Gartner brand, or incur excessiveexpenses in doing so, our future business and operating results could be materially adverselyimpacted.

Our international operations expose us to a variety of operational and other risks which couldnegatively impact our future revenue and growth. We have clients in over 90 countries and asubstantial amount of our revenue is earned outside of the United States. Our operating results aresubject to the risks inherent in international business activities, including general political andeconomic conditions in each country, changes in market demand as a result of tariffs and othertrade barriers, challenges in staffing and managing foreign operations, changes in regulatoryrequirements, compliance with numerous foreign laws and regulations, and the difficulty of enforcingclient agreements, collecting accounts receivable and protecting intellectual property rights ininternational jurisdictions. Furthermore, we rely on local distributors or sales agents in someinternational locations. If any of these arrangements are terminated by our agent or us, we may notbe able to replace the arrangement on beneficial terms or on a timely basis, or clients of the localdistributor or sales agent may not want to continue to do business with us or our new agent.

Our business and operations may be conducted in countries where corruption has historicallypenetrated the economy. It is our policy to comply, and to require our local partners and those withwhom we do business to comply, with all applicable anti-corruption laws, such as the U.S. ForeignCorrupt Practices Act and U.K. Bribery Act, and with applicable local laws of the foreign countries

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in which we operate. Our business and reputation may be adversely affected if we fail to complywith such laws.

We are exposed to volatility in foreign currency exchange rates from our international operations.For the years ended December 31, 2016 and 2015, 42% and 41%, respectively, of our revenues werederived from sales outside of the United States. Revenues earned outside the U.S. are typicallytransacted in local currencies, which may fluctuate significantly against the U.S. dollar. While wemay use forward exchange contracts to a limited extent to seek to mitigate foreign currency risk, ourrevenues and results of operations could be adversely affected by unfavorable foreign currencyfluctuations. Additionally, our effective tax rate is increased as the U.S dollar strengthens againstforeign currencies, which could impact our operating results.

Natural disasters, terrorist acts, war, and other geo-political events could disrupt our business. Weoperate in numerous U.S. and international locations, and we have offices in a number of majorcities across the globe. A major weather event, earthquake, flood, drought, volcanic activity, disease,or other catastrophic natural disaster could significantly disrupt our operations. In addition, acts ofcivil unrest, failure of critical infrastructure, terrorism, armed conflict, war, and abrupt politicalchange, as well as responses by various governments and the international community to such acts,can have a negative effect on our business. Such events could cause delays in initiating orcompleting sales, impede delivery of our products and services to our clients, disrupt or shut downthe Internet or other critical client-facing and business processes, impede the travel of our personneland clients, dislocate our critical internal functions and personnel, and in general harm our ability toconduct normal business operations, any of which can negatively impact our financial condition andoperating results. Such events could also impact the timing and budget decisions of our clients,which could materially adversely affect our business.

Privacy concerns could damage our reputation and deter current and potential clients from usingour products and services or attending our events. Concerns relating to global data privacy have thepotential to damage our reputation and deter current and prospective clients from using ourproducts and services or attending our events. In the ordinary course of our business and inaccordance with applicable laws, we collect personal information (i) from our employees (ii) fromthe users of our products and services, including event attendees; and (iii) from prospective clients.We collect only basic personal information from our clients and prospects (name, email address, jobtitle) and do not as a rule collect sensitive personal information like the social security numbers usedin the United States. While we may collect credit card numbers on a limited basis from some clientsto facilitate payment, we do not store such numbers. Even if unfounded, concerns about ourpractices with regard to the collection, use, disclosure, or security of this personal information orother data privacy related matters could damage our reputation and materially adversely affect ouroperating results. In addition, because many of our products and services are web-based, the amountof data we store on our servers (including personal information) has been increasing. Any systemsfailure or compromise of our security that results in the disclosure of our users’ personal data couldseriously limit the consumption of our products and services and the attendance at our events, aswell as harm our reputation and brand and, therefore, our business.

In addition, while we had been a Safe Harbor certified company for a number of years, andwhile we have implemented a company-wide privacy compliance program, regulatory authoritiesaround the world continue to adopt new laws, regulations and penalties concerning data privacy.Most recently, the European Commission adopted the EU-US Privacy Shield framework (which, asof the date of this report, has undergone a number of legal challenges as to its validity), and theEuropean Parliament formally adopted the General Data Protection Regulation (“GDPR”) whichwill become effective in May 2018. We are closely monitoring these legal developments and areworking towards timely GDPR compliance. In the meantime, Gartner will continue to maintain andrely upon our comprehensive global data privacy compliance program and robust processes tosafeguard our associates’ and clients’ personal data. The interpretation and application of these lawsin the United States, the European Union and elsewhere are often uncertain, inconsistent and everchanging. It is possible that these laws may be interpreted and applied in a manner that isinconsistent with our data privacy practices. Complying with these various laws could cause us to

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incur substantial costs or require us to change our business practices in a manner adverse to ourbusiness.

Internet and critical internal computer system failures, cyber-attacks, or compromises of oursystems or security could damage our reputation and harm our business. A significant portion of ourbusiness is conducted over the Internet and we rely heavily on computer systems to conduct ouroperations. Individuals, groups, and state-sponsored organizations may take steps that pose threats toour operations, our computer systems, our employees, and our customers. They may develop anddeploy malicious software to gain access to our networks and attempt to steal confidentialinformation, launch distributed denial of service attacks, or attempt other coordinated disruptions.These threats are constantly evolving and becoming more sophisticated, thereby increasing thedifficulty of detecting and successfully defending against them. A cyber-attack, widespread Internetfailure or Internet access limitations, or disruption of our critical information technology systemsthrough denial of service, viruses, or other events could cause delays in initiating or completingsales, impede delivery of our products and services to our clients, disrupt other critical client-facingor business processes, or dislocate our critical internal functions. Such events could significantly harmour ability to conduct normal business operations and negatively impact our financial results.

We take steps to secure our management information systems, including our computer systems,intranet, proprietary websites, email and other telecommunications and data networks, and wecarefully scrutinize the security of outsourced website and service providers prior to retaining theirservices. However, the security measures implemented by us or by our outside service providers maynot be effective and our systems (and those of our outside service providers) may be vulnerable totheft, loss, damage and interruption from a number of potential sources and events, includingunauthorized access or security breaches, cyber-attacks, computer viruses, power loss, or otherdisruptive events. Our reputation, brand, financial condition and operating results could bematerially adversely affected if, as a result of a significant cyber event or other technology-relatedcatastrophe, our operations are disrupted or shutdown; our confidential, proprietary information isstolen or disclosed; we incur costs or are required to pay fines in connection with stolen customer,employee, or other confidential information; we are required to dedicate significant resources tosystem repairs or increase cyber security protection; or we otherwise incur significant litigation orother costs as a result of these occurrences.

We may experience outages and disruptions of our online services if we fail to maintain anadequate operations infrastructure. Our increasing user traffic and complexity of our products andservices demand more computing power. We have spent and expect to continue to spend substantialamounts to maintain data centers and equipment, to upgrade our technology and networkinfrastructure to handle increased traffic on our websites, and to deliver our products and servicesthrough emerging channels, such as mobile applications. However, any inefficiencies or operationalfailures could diminish the quality of our products, services, and user experience, resulting in damageto our reputation and loss of current and potential users, subscribers, and advertisers, potentiallyharming our financial condition and operating results.

Our outstanding debt obligations could impact our financial condition or future operating results.We have a credit arrangement that provides for a five-year, $600.0 million term loan and a$1.2 billion secured five year revolving credit facility (the “2016 Credit Agreement”). The 2016Credit Agreement was amended on January 20, 2017 to permit the acquisition of CEB and theincurrence of an additional $1.375 billion senior secured term loan B facility, a $300.0 million364-day senior unsecured bridge facility and a senior unsecured high-yield bridge facility of up to$600.0 million (or the issuance of a corresponding amount of debt securities (the “Notes”)) tofinance, in part, the acquisition and repay certain debt of CEB, and to modify certain covenants (the“First Amendment”). In connection with financing the CEB acquisition, the Company has alsoreceived a commitment with respect to $600.0 million unsecured senior bridge facilities. The 2016Credit Agreement contains an expansion feature by which the term loan and revolving facility maybe increased, at our option and under certain conditions, by up to an additional $750.0 million in theaggregate plus additional amounts subject to the satisfaction of certain conditions, including amaximum secured leverage ratio. At December 31, 2016, we had a total of $700.0 millionoutstanding under the 2016 Credit Agreement.

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The affirmative, negative and financial covenants of the 2016 Credit Agreement, as amended, aswell as the covenants related to the Notes, by the First Amendment, could limit our future financialflexibility. Additionally, a failure to comply with these covenants could result in acceleration of allamounts outstanding under the 2016 Credit Agreement and the Notes, which would materiallyimpact our financial condition unless accommodations could be negotiated with our lenders andNoteholders. No assurance can be given that we would be successful in doing so, or that anyaccommodations that we were able to negotiate would be on terms as favorable as those presentlycontained in the 2016 Credit Agreement. The associated debt service costs of these creditarrangements could impair our future operating results. The outstanding debt may limit the amountof cash or additional credit available to us, which could restrain our ability to expand or enhanceproducts and services, respond to competitive pressures or pursue future business opportunitiesrequiring substantial investments of additional capital.

We may require additional cash resources which may not be available on favorable terms or atall. We may require additional cash resources due to changed business conditions, implementation ofour strategy and stock repurchase program, to repay indebtedness or to pursue future businessopportunities requiring substantial investments of additional capital, including acquisitions. If ourexisting financial resources are insufficient to satisfy our requirements, we may seek additionalborrowings or issue debt. Prevailing credit and debt market conditions may negatively affect debtavailability and cost, and, as a result, financing may not be available in amounts or on termsacceptable to us, if at all. In addition, the incurrence of additional indebtedness would result inincreased debt service obligations and could require us to agree to operating and financial covenantsthat would further restrict our operations.

If we are unable to enforce and protect our intellectual property rights our competitive positionmay be harmed. We rely on a combination of copyright, trademark, trade secret, patent,confidentiality, non-compete and other contractual provisions to protect our intellectual propertyrights. Despite our efforts to protect our intellectual property rights, unauthorized third parties mayobtain and use technology or other information that we regard as proprietary. Our intellectualproperty rights may not survive a legal challenge to their validity or provide significant protectionfor us. The laws of certain countries, particularly in emerging markets, do not protect ourproprietary rights to the same extent as the laws of the United States. Accordingly, we may not beable to protect our intellectual property against unauthorized third-party copying or use, which couldadversely affect our competitive position. Additionally, there can be no assurance that another partywill not assert that we have infringed its intellectual property rights.

Our employees are subject to non-compete agreements, non-solicitation agreements andassignment of invention agreements, to the extent permitted under applicable law. When the non-competition period expires, former employees may compete against us. If a former employeechooses to compete against us prior to the expiration of the non-competition period, we seek toenforce these non-compete provisions but there is no assurance that we will be successful in ourefforts.

We have grown, and may continue to grow, through acquisitions and strategic investments, whichcould involve substantial risks. We have made and may continue to make acquisitions of, orsignificant investments in, businesses that offer complementary products and services or otherwisesupport our growth objectives. The risks involved in each acquisition or investment include thepossibility of paying more than the value we derive from the acquisition, dilution of the interests ofour current stockholders should we issue stock in the acquisition, decreased working capital,increased indebtedness, the assumption of undisclosed liabilities and unknown and unforeseen risks,the ability to retain key personnel of the acquired company, the inability to integrate the business ofthe acquired company, the time to train the sales force to market and sell the products of theacquired business, the potential disruption of our ongoing business and the distraction ofmanagement from our day to day business. The realization of any of these risks could adverselyaffect our business. Additionally, we face competition in identifying acquisition targets andconsummating acquisitions.

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We face risks related to litigation. We are, and in the future may be, subject to a variety of legalactions, such as employment, breach of contract, intellectual property-related, and business torts,including claims of unfair trade practices and misappropriation of trade secrets. Given the nature ofour business, we are also subject to defamation (including libel and slander), negligence, or otherclaims relating to the information we publish. Regardless of the merits and despite vigorous effortsto defend any such claim can affect our reputation, and responding to any such claim could be timeconsuming, result in costly litigation and require us to enter into settlements, royalty and licensingagreements which may not be offered or available on reasonable terms. If a claim is made against uswhich we cannot defend or resolve on reasonable terms, our business, brand, and financial resultscould be materially adversely affected.

We face risks related to taxation. We are a global company with clients in over 90 countries. Asubstantial amount of our earnings is generated outside of the United States and taxed at ratessignificantly less than the U.S. statutory federal income tax rate. Our effective tax rate, financialposition and results of operations could be adversely affected by earnings being higher thananticipated in jurisdictions with higher statutory tax rates and, conversely, lower than anticipated injurisdictions that have lower statutory tax rates, by changes in the valuation of our deferred taxassets and/or by changes in tax laws or accounting principles and their interpretation by relevantauthorities.

At the present time, the United States and other countries where we do business have eitherchanged or are actively considering changes in their tax, accounting and other related laws. In theUnited States, proposed and other tax law changes, particularly those directed at taxing unremittedand future foreign earnings, could increase our effective tax rate. In 2014, Ireland modified its taxresidency rules. While these changes are not effective until 2021 for many companies with Irishresident operations, including Gartner, the new rules could increase our effective tax rate at thatfuture date. Likewise, during 2015, the Organization for Economic Development and Cooperation(“OECD”) released final reports on various actions items associated with its initiative to preventBase Erosion and Profit Shifting (“BEPS). The future enactment by various governments of theseand future OECD proposals could significantly increase our tax obligations in many countries wherewe do business. These actual, potential, and other changes, both individually and collectively, couldmaterially increase our effective tax rate and negatively impact our financial position, results ofoperations, and cash flows.

In addition, our tax filings for various years are subject to examination by domestic andinternational taxing authorities and, during the ordinary course of business, we are under audit byvarious tax authorities. Recent and future actions on the part of the OECD and variousgovernments will likely result in increased scrutiny of our tax filings. Although we believe that ourtax filings and related accruals are reasonable, the final resolution of tax audits may be materiallydifferent from what is reflected in our historical tax provisions and accruals and could have amaterial adverse effect on our effective tax rate, financial position, results of operations, and cashflows, particularly in major taxing jurisdictions including, but not limited to: the United States,Ireland, India, Canada, United Kingdom, Japan, and France.

As of December 31, 2016, we had approximately $340.0 million of accumulated undistributedearnings in our non-U.S. subsidiaries. Under U.S. GAAP rules, no provision for income taxes thatmay result from the remittance of such earnings is required if the Company has the ability andintent to reinvest such funds overseas indefinitely. Our current plans do not demonstrate a need torepatriate these undistributed earnings to fund our U.S. operations or otherwise satisfy the liquidityneeds of our U.S. operations. We intend to reinvest these earnings in our non-U.S. operations,except in instances in which the repatriation of these earnings would result in minimal additionaltax. As a result, the Company has not recognized income tax expense that could result from theremittance of these earnings. However, future events such as a change in our liquidity needs or U.S.tax laws could cause us to change our repatriation policy and decide to repatriate some or all ofthese undistributed earnings. As a result, we could be required to accrue additional taxes in thefuture which could have a material impact on our consolidated financial position, cash flows andresults of operations in future periods.

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Our corporate compliance program cannot guarantee that we are in compliance with allapplicable laws and regulations. We operate in a number of countries, including emerging markets,and as a result we are required to comply with numerous, and in many cases, changing internationaland U.S. federal, state and local laws and regulations. As a result, we have developed and instituteda corporate compliance program which includes the creation of appropriate policies definingemployee behavior that mandate adherence to laws, employee training, annual affirmations,monitoring and enforcement. However, if any employee fails to comply with, or intentionallydisregards, any of these laws, regulations or our policies, a range of liabilities could result for theemployee and for the Company, including, but not limited to, significant penalties and fines,sanctions and/or litigation, and the expenses associated with defending and resolving any of theforegoing, any of which could have a negative impact on our reputation and business.

Risks related to our Common Stock

Our operating results may fluctuate from period to period and/or the financial guidance we havegiven may not meet the expectations of investors, which may cause the price of our common stock todecline. Our quarterly and annual operating results may fluctuate in the future as a result of manyfactors, including the timing of the execution of research contracts, the extent of completion ofconsulting engagements, the timing of symposia and other events, the amount of new businessgenerated, the mix of domestic and international business, currency fluctuations, changes in marketdemand for our products and services, the timing of the development, introduction and marketing ofnew products and services, competition in our industry, the impact of our acquisitions, and generaleconomic conditions. An inability to generate sufficient earnings and cash flow, and achieve ourforecasts, may impact our operating and other activities. The potential fluctuations in our operatingresults could cause period-to-period comparisons of operating results not to be meaningful and mayprovide an unreliable indication of future operating results. Furthermore, our operating results maynot meet the expectations of investors or the financial guidance we have previously provided. If thisoccurs, the price of our common stock could decline.

Our stock price may be impacted by factors outside of our control and you may not be able toresell shares of our common stock at or above the price you paid. The price of our common stock issubject to significant fluctuations in response to, among other factors, developments in the industriesin which we do business, general economic conditions, general market conditions, geo-politicalevents, changes in the nature and composition of our stockholder base, changes in securities analysts’recommendations regarding our securities and our performance relative to securities analysts’expectations for any quarterly period, as well as other factors outside of our control including anyand all factors that move the securities markets generally. These factors may materially adverselyaffect the market price of our common stock.

Future sales of our common stock in the public market could lower our stock price. Sales of asubstantial number of shares of common stock in the public market by our current stockholders, orthe threat that substantial sales may occur, could cause the market price of our common stock todecrease significantly or make it difficult for us to raise additional capital by selling stock.Furthermore, we have various equity incentive plans that provide for awards in the form of stockappreciation rights, restricted stock, restricted stock units and other stock-based awards which havethe effect of adding shares of common stock into the public market. At the present time, we areexecuting against a board-approved share repurchase program to reduce the number of outstandingshares of our common stock. At December 31, 2016, approximately $1.1 billion remained availablefor share purchases under this program. No assurance can be given that we will continue theseactivities in the future when the program is completed, or in the event that the price of our commonstock reaches levels at which repurchases are not accretive.

Future sales of our common stock from grants and awards could lower our stock price. As ofDecember 31, 2016, the aggregate number of shares of our common stock issuable pursuant tooutstanding grants and awards under our equity incentive plans was approximately 2.6 million shares(approximately 1.5 million of which have vested). In addition, at the present time, approximately6.2 million shares may be issued in connection with future awards under our equity incentive plans.

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Shares of common stock issued under these plans are freely transferable and have been registeredunder the Securities Act of 1933, as amended (the “Securities Act”), except for any shares held byaffiliates (as that term is defined in Rule 144 under the Securities Act) which are subject to certainlimitations. We cannot predict the size of future issuances of our common stock or the effect, if any,that future issuances and sales of shares of our common stock will have on the market price of ourcommon stock.

Interests of certain of our significant stockholders may conflict with yours. To our knowledge, asof the date hereof, and based upon publicly-available SEC filings, three institutional investors eachpresently hold over 5% of our common stock. While no stockholder or institutional investorindividually holds a majority of our outstanding shares, these significant stockholders may be able,either individually or acting together, to exercise significant influence over matters requiringstockholder approval, including the election of directors, amendment of our certificate ofincorporation, adoption or amendment of equity plans and approval of significant transactions suchas mergers, acquisitions, consolidations and sales or purchases of assets. In addition, in the event ofa proposed acquisition of the Company by a third party, this concentration of ownership may delayor prevent a change of control in us. Accordingly, the interests of these stockholders may not alwayscoincide with our interests or the interests of other stockholders, or otherwise be in the bestinterests of us or all stockholders.

Our anti-takeover protections may discourage or prevent a change of control, even if a change incontrol would be beneficial to our stockholders. Provisions of our restated certificate of incorporationand bylaws and Delaware law may make it difficult for any party to acquire control of us in atransaction not approved by our Board of Directors. These provisions include: (i) the ability of ourBoard of Directors to issue and determine the terms of preferred stock; (ii) advance noticerequirements for inclusion of stockholder proposals at stockholder meetings; and (iii) the anti-takeover provisions of Delaware law. These provisions could discourage or prevent a change ofcontrol or change in management that might provide stockholders with a premium to the marketprice of their common stock.

ITEM 1B. UNRESOLVED STAFF COMMENTS.

The Company has no unresolved written comments that were received from the SEC staff180 days or more before the end of our fiscal year relating to our periodic or current reports underthe Exchange Act.

ITEM 2. PROPERTIES.

We currently lease 39 domestic and 67 international offices. These offices support our executiveand administrative activities, research and consulting, sales, systems support, and other functions. Wehave a significant presence in Stamford, Connecticut; Ft. Myers, Florida; and Egham, theUnited Kingdom. The Company does not own any real properties.

Our Stamford corporate headquarters are located in 213,000 square feet of leased office spacein three buildings located on the same campus. The Company’s lease on the Stamford headquartersfacility expires in 2027 and contains three five-year renewal options at fair value. In 2016 we leasedan additional 21,179 square feet of space in a fourth building adjacent to our Stamford headquartersfacility under a five-year lease.

In Ft. Myers we lease 250,821 square feet of space in two buildings located on the same campusand we also have an additional 21,601 square feet of leased space in two separate but nearbybuildings that house staff training and other facilities. Our Ft. Myers leases expire in 2030. Toaccommodate future growth in Ft. Myers we also expect to lease additional space with terms similarto our current buildings. In Egham we currently lease 112,800 square feet of office in two separatebuildings but intend to consolidate our Egham operations into a new 108,000 square foot adjacentbuilding presently under construction in mid-2017. The new Egham lease has a term of 15 years.

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We expect to continue to invest in our business by adding headcount, and as a result, we mayneed additional office space in various locations. Should additional space be necessary, we believethat it will be available and at reasonable terms.

ITEM 3. LEGAL PROCEEDINGS.

We are involved in various legal and administrative proceedings and litigation arising in theordinary course of business. The outcome of these individual matters is not predictable at this time.However, we believe that the ultimate resolution of these matters, after considering amounts alreadyaccrued and insurance coverage, will not have a material adverse effect on our financial position,results of operations, or cash flows in future periods.

ITEM 4. MINE SAFETY DISCLOSURES.

Not applicable.

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PART II

ITEM 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDERMATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES.

Our common stock is listed on the New York Stock Exchange under the symbol “IT”. As ofJanuary 31, 2017, there were 1,341 holders of record of our common stock. Our 2017 AnnualMeeting of Stockholders will be held on June 1, 2017 at the Company’s corporate headquarters inStamford, Connecticut. We did not submit any matter to a vote of our stockholders during thefourth quarter of 2016.

The following table sets forth the high and low sale prices for our common stock as reported onThe New York Stock Exchange for the periods indicated:

High Low High Low

2016 2015

Quarter ended March 31 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 89.73 $77.80 $86.28 $74.39Quarter ended June 30 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 103.00 86.17 89.10 82.35Quarter ended September 30 . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100.74 87.86 92.46 79.93Quarter ended December 31 . . . . . . . . . . . . . . . . . . . . . . . . . . . . $105.45 $84.54 $94.82 $81.52

DIVIDEND POLICY

We currently do not pay cash dividends on our common stock. In addition, our 2016 CreditAgreement contains a negative covenant which may limit our ability to pay dividends.

SECURITIES AUTHORIZED FOR ISSUANCE UNDER EQUITY COMPENSATION PLANS

The equity compensation plan information set forth in Part III, Item 12 of this Form 10-K ishereby incorporated by reference into this Part II, Item 5.

SHARE REPURCHASES

The Company has a $1.2 billion board authorization to repurchase the Company’s commonstock. The Company may repurchase its common stock from time-to-time in amounts and at pricesthe Company deems appropriate, subject to the availability of stock, prevailing market conditions,the trading price of the stock, the Company’s financial performance and other conditions.Repurchases may be made through open market purchases, private transactions or other transactionsand will be funded from cash on hand and borrowings under the Company’s 2016 Credit Agreement.Repurchases may also be made from time-to-time in connection with the settlement of theCompany’s share-based compensation awards.

The following table summarizes the repurchases of our outstanding common stock in the threemonths ended December 31, 2016 pursuant to our $1.2 billion share repurchase authorization andpursuant to the settlement of share-based compensation awards:

Period

TotalNumber of

SharesPurchased

(#)

Average PricePaid Per

Share($)

Maximum ApproximateDollar Value of Shares that

May Yet Be Purchased Underthe Plans or Programs

(in billions)

October . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 51,590 $ 84.96November. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11,868 104.03December. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4,434 103.56

Total(1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 67,892 $ 89.51 $1.1

(1) For the year ended December 31, 2016, the Company repurchased a total of 0.6 million shares.

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ITEM 6. SELECTED FINANCIAL DATA

The fiscal years presented below are for the respective twelve-month period from January 1through December 31. Data for all years was derived or compiled from our audited consolidatedfinancial statements included herein or from submissions of our Form 10-K in prior years. Theselected consolidated financial data should be read in conjunction with our consolidated financialstatements and related notes contained in this Annual Report on Form 10-K.

2016 2015 2014 2013 2012

(In thousands, except per share data)

STATEMENT OF OPERATIONS DATA:Revenues:Research. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,829,721 $1,583,486 $1,445,338 $1,271,011 $1,137,147Consulting . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 346,214 327,735 348,396 314,257 304,893Events . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 268,605 251,835 227,707 198,945 173,768

Total revenues. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,444,540 2,163,056 2,021,441 1,784,213 1,615,808Operating income. . . . . . . . . . . . . . . . . . . . . . . . . . . . 305,141 287,997 286,162 275,492 245,707Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 193,582 $ 175,635 $ 183,766 $ 182,801 $ 165,903

PER SHARE DATA:Basic income per share . . . . . . . . . . . . . . . . . . . . . . $ 2.34 $ 2.09 $ 2.06 $ 1.97 $ 1.78

Diluted income per share. . . . . . . . . . . . . . . . . . . . $ 2.31 $ 2.06 $ 2.03 $ 1.93 $ 1.73

Weighted average shares outstanding:Basic . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 82,571 83,852 89,337 93,015 93,444

Diluted . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 83,820 85,056 90,719 94,830 95,842

OTHER DATA:Cash and cash equivalents . . . . . . . . . . . . . . . . . . . $ 474,233 $ 372,976 $ 365,302 $ 423,990 $ 299,852Total assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,367,335 2,168,517 1,904,351 1,783,582 1,621,277Long-term debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 672,500 790,000 385,000 136,250 115,000Stockholders’ equity (deficit) . . . . . . . . . . . . . . . . 60,878 (132,400) 161,171 361,316 306,673Cash provided by operating activities . . . . . . . . $ 365,632 $ 345,561 $ 346,779 $ 315,654 $ 279,814

The following items impact the comparability and presentation of our consolidated data:

• In 2016 we repurchased 0.6 million of our common shares. We also repurchased 6.2 million,5.9 million, 3.4 million, and 2.7 million of our common shares in 2015, 2014, 2013, and 2012,respectively. We used $59.0 million, $509.0 million, $432.0 million, $181.7 million, and$111.3 million in cash for share repurchases in 2016, 2015, 2014, 2013, and 2012, respectively.See Note 7—Stockholders’ Equity (Deficit) in the Notes to the Consolidated FinancialStatements for additional information.

• In 2016 we early adopted Financial Accounting Standards Board Accounting StandardsUpdate (ASU) No. 2016-09, “Improvements to Employee Share-Based Payment Accounting”(“ASU No. 2016-09”), which changed the accounting for stock-based compensation awards.The adoption of ASU No. 2016-09 increased our basic and diluted earnings per share for 2016by a total of $0.12 per share and our operating cash flow by $10.0 million. Our financialresults for periods prior to 2016 were not impacted. See Note 1—Business and SignificantAccounting Policies in the Notes to the Consolidated Financial Statements for additionalinformation.

• In 2016, 2015 and 2014 we acquired other businesses and recognized $42.6 million,$26.2 million and $21.9 million, respectively, in pre-tax acquisition and integration charges.The operating results of these businesses were included in our consolidated financial resultsbeginning on their respective acquisition dates. The Company used $34.2 million,$196.2 million and $124.3 million in cash for acquisitions in 2016, 2015 and 2014, respectively.

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See Note 2—Acquisitions in the Notes to the Consolidated Financial Statements for additionalinformation.

• In 2016 we refinanced our previous credit facility. See Note 5—Debt in the Notes to theConsolidated Financial Statements for additional information.

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ITEM 7. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITIONAND RESULTS OF OPERATIONS.

The purpose of the following Management’s Discussion and Analysis (“MD&A”) is to helpfacilitate the understanding of significant factors influencing the operating results, financial conditionand cash flows of Gartner, Inc. Additionally, the MD&A also conveys our expectations of thepotential impact of known trends, events or uncertainties that may impact future results. You shouldread this discussion in conjunction with our consolidated financial statements and related notesincluded in this report. Historical results and percentage relationships are not necessarily indicativeof operating results for future periods. References to “the Company,” “we,” “our,” and “us” are toGartner, Inc. and its consolidated subsidiaries.

We acquired other businesses in 2016, 2015, and 2014, which is described in Note 2—Acquisitions in the Notes to the Consolidated Financial Statements included in this Annual Reporton Form 10-K. The operating results of these acquired businesses have been included in ourconsolidated and segment operating results beginning on their respective dates of acquisition. Theseresults were not material to our consolidated or segment results.

FORWARD-LOOKING STATEMENTS

In addition to historical information, this Annual Report on Form 10-K contains certainforward-looking statements within the meaning of Section 27A of the Securities Act of 1933, asamended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-lookingstatements are any statements other than statements of historical fact, including statements regardingour expectations, beliefs, hopes, intentions or strategies regarding the future. In some cases, forward-looking statements can be identified by the use of words such as “may,” “will,” “expect,” “should,”“could,” “believe,” “plan,” “anticipate,” “estimate,” “predict,” “potential,” “continue,” or otherwords of similar meaning.

Forward-looking statements are subject to risks and uncertainties that could cause actual resultsto differ materially from those discussed in, or implied by, the forward-looking statements. Factorsthat might cause such a difference include, but are not limited to, those discussed in Part 1,Item 1A, Risk Factors included in this Annual Report on Form 10-K. Readers should not placeundue reliance on these forward-looking statements, which reflect management’s opinion only as ofthe date on which they were made. Except as required by law, we disclaim any obligation to reviewor update these forward-looking statements to reflect events or circumstances as they occur.

BUSINESS OVERVIEW

Gartner is the world’s leading information technology research and advisory company. Wedeliver the technology-related insight necessary for our clients to make the right decisions, everyday. From CIOs and senior information technology (IT) leaders in corporations and governmentagencies, to business leaders in high-tech and telecom enterprises and professional services firms, tosupply chain professionals, marketing professionals and technology investors, we are the valuablepartner to clients in 11,122 distinct enterprises. We work with clients to research, analyze, andinterpret the business of IT within the context of their individual roles. Gartner is headquartered inStamford, Connecticut, U.S.A., and as of December 31, 2016, we had 8,813 employees, including1,922 research analysts and consultants, and clients in over 90 countries.

The foundation for all Gartner products and services is our independent research on IT, supplychain, and digital marketing initiatives. The findings from this research are delivered through ourthree business segments—Research, Consulting and Events:

• Research provides objective insight on critical and timely technology and supply chaininitiatives for CIOs, other IT professionals, supply chain leaders, marketing and otherprofessionals, as well as technology companies and the institutional investment community,through reports, briefings, proprietary tools, access to our analysts, peer networking servicesand membership programs that enable our clients to make better decisions about their IT,supply chain and marketing investments.

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• Consulting provides customized solutions to unique client needs through on-site, day-to-daysupport, as well as proprietary tools for measuring and improving IT performance with a focuson cost, performance, efficiency, and quality.

• Events provides IT, supply chain, marketing and business professionals the opportunity toattend various symposia, conferences and exhibitions to learn, contribute and network withtheir peers. From our flagship event Symposium/ITxpo, to summits focused on specifictechnologies and industries, to experimental workshop-style seminars, our events distill thelatest Gartner research into applicable insight and advice.

For more information regarding Gartner and our products and services, visit gartner.com.

BUSINESS MEASUREMENTS

We believe the following business measurements are important performance indicators for ourbusiness segments:

BUSINESS SEGMENT BUSINESS MEASUREMENTS

Research Total contract value represents the value attributable to all of our subscription-related contracts. It is calculated as the annualized value of all contracts ineffect at a specific point in time, without regard to the duration of thecontract. Total contract value primarily includes Research deliverables forwhich revenue is recognized on a ratable basis, as well as other deliverables(primarily Events tickets) for which revenue is recognized when the deliverableis utilized.

Research contract value represents the value attributable to all of oursubscription-related research products that recognize revenue on a ratablebasis. Contract value is calculated as the annualized value of all subscriptionresearch contracts in effect at a specific point in time, without regard to theduration of the contract.

Client retention rate represents a measure of client satisfaction and renewedbusiness relationships at a specific point in time. Client retention is calculatedon a percentage basis by dividing our current clients, who were also clients ayear ago, by all clients from a year ago. Client retention is calculated at anenterprise level, which represents a single company or customer.

Wallet retention rate represents a measure of the amount of contract value wehave retained with clients over a 12-month period. Wallet retention iscalculated on a percentage basis by dividing the contract value of clients, whowere clients one year ago, by the total contract value from a year ago,excluding the impact of foreign currency exchange. When wallet retentionexceeds client retention, it is an indication of retention of higher-spendingclients, or increased spending by retained clients, or both. Wallet retention iscalculated at an enterprise level, which represents a single company orcustomer.

Consulting Consulting backlog represents future revenue to be derived from in-processconsulting, measurement and strategic advisory services engagements.

Utilization rate represents a measure of productivity of our consultants.Utilization rates are calculated for billable headcount on a percentage basis bydividing total hours billed by total hours available to bill.

Billing rate represents earned billable revenue divided by total billable hours.

Average annualized revenue per billable headcount represents a measure ofthe revenue generating ability of an average billable consultant and iscalculated periodically by multiplying the average billing rate per hour timesthe utilization percentage times the billable hours available for one year.

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BUSINESS SEGMENT BUSINESS MEASUREMENTS

Events Number of events represents the total number of hosted events completedduring the period.

Number of attendees represents the total number of people who attend events.

EXECUTIVE SUMMARY OF OPERATIONS AND FINANCIAL POSITION

We have executed a consistent growth strategy since 2005 to drive double-digit annual revenueand earnings growth. The fundamentals of our strategy include a focus on creating extraordinaryresearch insight, delivering innovative and highly differentiated product offerings, building a strongsales capability, providing world class client service with a focus on client engagement and retention,and continuously improving our operational effectiveness.

We had total revenues of $2.4 billion in 2016, an increase of 13% over 2015 on a reported basisand 14% adjusted for the impact of foreign currency exchange. Diluted earnings per share was $2.31in 2016 compared to $2.06 in 2015, a 12% increase, primarily driven by higher net income, whichincreased 10% in 2016, and to a lesser extent, a lower weighted-average share count, which declined1%.

Research revenues increased 16% year-over-year, to $1.83 billion in 2016, and adjusted for theimpact of foreign currency, Research revenues increased 17%. The contribution margin was 69%,the same as 2015. At December 31, 2016, total contract value was $1.93 billion, an increase of 9%over December 31, 2015 on a reported basis and 14% adjusted for the impact of foreign currencyexchange. Both client and wallet retention remained strong, at 84% and 104%, respectively, atDecember 31, 2016.

Consulting revenues increased 6% in 2016, to $346.2 million, while the impact of foreigncurrency exchange was not significant. The gross contribution margin was 31% in 2016 compared to33% in 2015. Consultant utilization was 66% in both periods. We had 628 billable consultants atDecember 31, 2016 compared to 606 at year-end 2015. Backlog was $103.8 million at December 31,2016.

Events revenues increased 7% year-over-year, to $268.6 million in 2016. Adjusted for the impactof foreign currency exchange, Events revenues increased 6%. The segment contribution margin was51% in 2016 compared to 52% in 2015. We held 66 events in 2016 compared to 65 in 2015, whilethe number of attendees increased 4% in 2016, to 54,602.

For a more detailed discussion of our results, see the Segment Results section below.

Cash flow from our operating activities was $365.6 million in 2016, an increase of 6% comparedto 2015. Our 2016 cash flow from operating activities benefited from the early adoption of FASBASU 2016-09, “Improvements to Employee Share-Based Payment Accounting,” which changed theaccounting for stock-based compensation awards (see Note 1—Business and Significant AccountingPolicies in the Notes to the Consolidated Financial Statements included in this Annual Report onForm 10-K for additional information). We ended 2016 with $474.2 million in cash and cashequivalents while $1.1 billion was available for borrowing under the revolving credit line.

We continue to focus on maximizing shareholder value. During 2016 we repurchased 0.6 millionshares of our outstanding common stock and we also acquired two businesses. In addition, inJanuary 2017 we announced that we have entered into a definitive agreement whereby Gartner willacquire all of the outstanding shares of CEB Inc., an industry leader in providing best practice andtalent management insights (see Note 16—Subsequent Events in the Notes to the ConsolidatedFinancial Statements for additional information).

FLUCTUATIONS IN QUARTERLY RESULTS

Our quarterly and annual revenue, operating income, and cash flow fluctuate as a result ofmany factors, including: the timing of our Symposium/ITxpo series, which are normally held duringthe fourth calendar quarter, as well as other events; the timing and amount of new business

24

generated; the mix between domestic and international business; changes in market demand for ourproducts and services; changes in foreign currency rates; the timing of the development, introductionand marketing of our new products and services; competition in the industry; acquisitions; generaleconomic conditions; and other factors which are beyond our control. The potential fluctuations inour operating income could cause period-to-period comparisons of operating results not to bemeaningful and could provide an unreliable indication of future operating results and cash flows.

CRITICAL ACCOUNTING POLICIES AND ESTIMATES

The preparation of our consolidated financial statements requires the application of appropriateaccounting policies and the use of estimates. Our significant accounting policies are described inNote 1 in the Notes to the Consolidated Financial Statements included in this Form 10-K.Management considers the policies discussed below to be critical to an understanding of ourfinancial statements because their application requires complex and subjective managementjudgments and estimates. Specific risks for these critical accounting policies are described below.

The preparation of our consolidated financial statements requires us to make estimates andassumptions about future events. We develop our estimates using both current and historicalexperience, as well as other factors, including the general economic environment and actions we maytake in the future. We adjust such estimates when facts and circumstances dictate. However, ourestimates may involve significant uncertainties and judgments and cannot be determined withprecision. In addition, these estimates are based on our best judgment at a point in time and as suchthese estimates may ultimately differ materially from actual results. On-going changes to ourestimates could be material and would be reflected in the Company’s consolidated financialstatements in future periods.

Our critical accounting policies are as follows:

Revenue recognition—Revenue is recognized in accordance with the requirements of U.S.GAAP as well as SEC Staff Accounting Bulletin No. 104, Revenue Recognition (“SAB No. 104”).Revenue is only recognized once all required criteria for revenue recognition have been met.Revenue by significant source is accounted for as follows:

• Research revenues are mainly derived from subscription contracts for research products. Therelated revenues are deferred and recognized ratably over the applicable contract term. Feesderived from assisting organizations in selecting the right business software for their needs isrecognized when the leads are provided to vendors.

• Consulting revenues are principally generated from fixed fee and time and materialengagements. Revenues from fixed fee contracts are recognized on a proportionalperformance basis. Revenues from time and materials engagements are recognized as work isdelivered and/or services are provided. Revenues related to contract optimization contracts arecontingent in nature and are only recognized upon satisfaction of all of the conditions relatedto their payment.

• Events revenues are deferred and then recognized upon the completion of the relatedsymposium, conference, summit, or exhibition.

The majority of research contracts are billable upon signing, absent special terms granted on alimited basis from time to time. All research contracts are non-cancelable and non-refundable,except for government contracts that may have cancellation or fiscal funding clauses. It is our policyto record the amount of the contract that is billable as a fee receivable at the time the contract issigned with a corresponding amount as deferred revenue, since the contract represents a legallyenforceable claim.

Uncollectible fees receivable—We maintain an allowance for losses which is composed of a baddebt allowance and a sales reserve. Provisions are charged against earnings, either as a reduction inrevenues or an increase to expense. The determination of the allowance for losses is based onhistorical loss experience, an assessment of current economic conditions, the aging of outstandingreceivables, the financial health of specific clients, and probable losses. This evaluation is inherentlyjudgmental and requires estimates. These valuation reserves are periodically re-evaluated and

25

adjusted as more information about the ultimate collectability of fees receivable becomes available.Circumstances that could cause our valuation reserves to increase include changes in our clients’liquidity and credit quality, other factors negatively impacting our clients’ ability to pay theirobligations as they come due, and the effectiveness of our collection efforts.

The following table provides our total fees receivable and the related allowance for losses (inthousands) as of:

2016 2015

December 31,

Total fees receivable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $650,413 $587,663Allowance for losses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (7,400) (6,900)

Fees receivable, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $643,013 $580,763

Goodwill and other intangible assets—The Company evaluates recorded goodwill in accordancewith Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”)Topic No. 350, which requires goodwill to be assessed for impairment at least annually andwhenever events or changes in circumstances indicate that the carrying value may not berecoverable. In addition, an impairment evaluation of our amortizable intangible assets may also beperformed if events or circumstances indicate potential impairment. Among the factors that couldtrigger an impairment review are our current operating results relative to our annual plan orhistorical performance; changes in our strategic plan or use of our assets; restructuring charges orother changes in our business segments; competitive pressures and changes in the general economyor in the markets in which we operate; and a significant decline in our stock price and our marketcapitalization relative to our net book value.

ASC Topic No. 350 requires an annual assessment of the recoverability of recorded goodwill,which can be either quantitative or qualitative in nature, or a combination of the two. Both methodsrequire the use of estimates which in turn contain judgments and assumptions regarding futuretrends and events. As a result, both the precision and reliability of the resulting estimates are subjectto uncertainty. If our annual goodwill impairment evaluation determines that the fair value of areporting unit is less than its related carrying amount, we may recognize an impairment chargeagainst earnings. Among the factors we consider in a qualitative assessment are general economicconditions and the competitive environment; actual and projected reporting unit financialperformance; forward-looking business measurements; and external market assessments. Aquantitative analysis requires management to consider all of the factors relevant to a qualitativeassessment, as well as the utilization of detailed financial projections, to include the rate of revenuegrowth, profitability, and cash flows, as well as assumptions regarding discount rates, the Company’sweighted-average cost of capital, and other data, in order to determine a fair value for our reportingunits.

We conducted a qualitative assessment of the fair values of all of the Company’s reporting unitsduring the third quarter of 2016. The results of this test concluded that the fair values of theCompany’s reporting units continue to exceed their respective carrying amounts. See Note 1—Business and Significant Accounting Policies in the Notes to the Consolidated Financial Statementsfor additional information regarding goodwill and amortizable intangible assets.

Accounting for income taxes—The Company uses the asset and liability method of accountingfor income taxes. We estimate our income taxes in each of the jurisdictions where we operate. Thisprocess involves estimating our current tax expense together with assessing temporary differencesresulting from differing treatment of items for tax and accounting purposes. These differences resultin deferred tax assets and liabilities, which are included within our consolidated balance sheets. Inassessing the realizability of deferred tax assets, management considers if it is more likely than notthat some or all of the deferred tax assets will not be realized. We consider the availability of losscarryforwards, projected reversal of deferred tax liabilities, projected future taxable income, andongoing prudent and feasible tax planning strategies in making this assessment. The Companyrecognizes the tax benefit from an uncertain tax position only if it is more likely than not the taxposition will be sustained based on the technical merits of the position.

26

Accounting for stock-based compensation—The Company accounts for stock-basedcompensation in accordance with FASB ASC Topic No. 505 and 718 and SEC Staff AccountingBulletins No. 107 (“SAB No. 107”) and No. 110 (“SAB No. 110”). The Company recognizes stock-based compensation expense, which is based on the fair value of the award on the date of grant,over the related service period (see Note 8—Stock-Based Compensation in the Notes to theConsolidated Financial Statements for additional information). Determining the appropriate fairvalue model and calculating the fair value of stock compensation awards requires the input ofcertain complex and subjective assumptions, including the expected life of the stock compensationaward and the Company’s common stock price volatility. In addition, determining the appropriateamount of associated periodic expense requires management to estimate the likelihood of theachievement of certain performance targets. The assumptions used in calculating the fair value ofstock compensation awards and the associated periodic expense represent management’s bestestimates, but these estimates involve inherent uncertainties and the application of judgment. As aresult, if factors change and the Company deems it necessary in the future to modify theassumptions it made or to use different assumptions, or if the quantity and nature of the Company’sstock-based compensation awards changes, then the amount of expense may need to be adjusted andfuture stock-based compensation expense could be materially different from what has been recordedin the current period. In 2016 the Company early adopted FASB ASU No. 2016-09, “Improvementsto Employee Share-Based Payment Accounting,” ASU No. 2016-09 requires certain changes inaccounting for stock compensation under FASB ASC Topic No. 718. Note 1—Business andSignificant Accounting Policies in the Notes to the Consolidated Financial Statements providesadditional information regarding the adoption of ASU No. 2016-09.

Restructuring and other accruals—We may record accruals for severance costs, costs associatedwith excess facilities that we have leased, contract terminations, asset impairments, and other costsas a result of on-going actions we undertake to streamline our organization, reposition certainbusinesses and reduce ongoing costs. Estimates of costs to be incurred to complete these actions,such as future lease payments, sublease income, the fair value of assets, and severance and relatedbenefits, are based on assumptions at the time the actions are initiated. These accruals may need tobe adjusted to the extent actual costs differ from such estimates. In addition, these actions may berevised due to changes in business conditions that we did not foresee at the time such plans wereapproved. We also record accruals during the year for our various employee cash incentiveprograms. Amounts accrued at the end of each reporting period are based on our estimates and mayrequire adjustment as the ultimate amount paid for these incentives are sometimes not known withcertainty until the end of our fiscal year.

27

RESULTS OF OPERATIONS

Consolidated Results

2016 VERSUS 2015

The following table presents the changes in selected line items in our Consolidated Statementsof Operations for the two years ended December 31, 2016 (in thousands):

Year EndedDecember 31,

2016


2015

IncomeIncrease

(Decrease)$

IncomeIncrease

(Decrease)%

Total revenues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $2,444,540 $2,163,056 $ 281,484 13%Costs and expenses:Cost of services & product development . . . . . . . . . . . 945,648 839,076 (106,572) (13)Selling, general and administrative . . . . . . . . . . . . . . . . . 1,089,184 962,677 (126,507) (13)Depreciation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 37,172 33,789 (3,383) (10)Amortization of intangibles . . . . . . . . . . . . . . . . . . . . . . . . 24,797 13,342 (11,455) (86)Acquisition & integration charges. . . . . . . . . . . . . . . . . . 42,598 26,175 (16,423) (63)

Operating income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 305,141 287,997 17,144 6Interest expense, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (25,116) (20,782) (4,334) (21)Other income (expense), net . . . . . . . . . . . . . . . . . . . . . . . 8,406 4,996 3,410 68Provision for income taxes . . . . . . . . . . . . . . . . . . . . . . . . . (94,849) (96,576) 1,727 2

Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 193,582 $ 175,635 $ 17,947 10%

TOTAL REVENUES for the year ended December 31, 2016 increased $281.5 million, or 13%,compared to the year ended December 31, 2015. Excluding the impact of foreign currency exchange,total revenues increased 14% in 2016 compared to 2015. Year-over-year reported segment revenuesincreased by 16% in our Research segment, 6% in Consulting and 7% in Events.

The following table presents total revenues by geographic region for the years ended (inthousands):

Geographic RegionDecember 31,

2016December 31,

2015

Increase(Decrease)

$

Increase(Decrease)

%

U.S. and Canada . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,519,748 $1,347,676 $172,072 13%Europe, Middle East, Africa. . . . . . . . . . . . . . . . . . . . . . . . 616,721 557,165 59,556 11Other International . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 308,071 258,215 49,856 19

Totals. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $2,444,540 $2,163,056 $281,484 13%

The following table presents our revenues by segment for the years ended (in thousands):

SegmentDecember 31,

2016December 31,

2015

Increase(Decrease)

$

Increase(Decrease)

%

Research. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,829,721 $1,583,486 $246,235 16%Consulting . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 346,214 327,735 18,479 6Events . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 268,605 251,835 16,770 7

Totals. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $2,444,540 $2,163,056 $281,484 13%

Please see the section of this MD&A below entitled “Segment Results” for a further discussionof revenues and results by segment.

COST OF SERVICES AND PRODUCT DEVELOPMENT (“COS”) expense increased$106.6 million, or 13%, in 2016 compared to 2015, to $945.6 million compared to $839.1 million in2015. COS expense increased 14% in 2016 when compared to 2015 adjusted for the impact offoreign exchange. The year-over-year increase in COS expense was due to $88.0 million in higherpayroll and related benefits costs from additional headcount and merit salary increases, and$28.6 million in higher charges in 2016 for events costs and other program related expenses. Partially

28

offsetting these increased expenses was approximately $10.0 million in foreign exchange impact.Overall COS headcount increased 13%, which was primarily in our Research segment. COS as apercentage of revenues was 39% in both the 2016 and 2015 periods.

SELLING, GENERAL AND ADMINISTRATIVE (“SG&A”) expense increased by$126.5 million in 2016, or 13%, to $1,089.2 million compared to $962.7 million in 2015. Excludingthe impact of foreign currency exchange, SG&A expense increased 15% year-over-year. Theincrease was primarily due to $115.0 million in higher payroll and related benefits costs fromadditional headcount, higher sales commissions, and merit salary increases, and we also had$27.5 million in additional legal, recruiting and training, and workplace costs. Partially offsettingthese additional charges was approximately $16.0 million in foreign exchange impact. SG&Aheadcount increased 13% overall, with the majority of the increase in additional quota-bearing salesassociates and related support staff. Quota-bearing sales associates increased 12% year-over-year, to2,423 at December 31, 2016 from 2,171 at year-end 2015.

DEPRECIATION expense increased 10% in 2016 compared to 2015, which reflects ouradditional investment in fixed assets.

AMORTIZATION OF INTANGIBLES increased to $24.8 million in 2016 from $13.3 million in2015 due to the additional intangibles resulting from our acquisitions.

ACQUISITION AND INTEGRATION CHARGES was $42.6 million in 2016 compared to$26.2 million in 2015. These charges are directly-related to our acquisitions and primarily includeamounts accrued for payments contingent on the achievement of certain employment conditions,legal, consulting and severance costs.

OPERATING INCOME increased 6% in 2016 compared to 2015, to $305.1 million in 2016from $288.0 million in 2015. Operating income as a percentage of revenues was 12% in 2016 and13% in 2015 with the decline due to a number of factors, to include lower gross contributionmargins in our Consulting and Events segments and higher charges from acquisitions.

INTEREST EXPENSE, NET increased 21% year-over-year due to higher average borrowingsin the 2016 period.

OTHER INCOME (EXPENSE), NET was $8.4 million in 2016, which included a gain of$2.5 million from the extinguishment of a portion of an economic development loan from the Stateof Connecticut, the sale of certain state tax credits and the recognition of other tax incentives, andthe net impact of gains and losses from our foreign currency hedging activities. Other income(expense), net was $5.0 million in 2015, which consisted of a $6.8 million gain from the sale ofcertain state tax credits partially offset by a net loss from foreign currency hedging activities.

PROVISION FOR INCOME TAXES was $94.8 million in 2016 compared to $96.6 million in2015 and the effective tax rate was 32.9% in 2016 compared to 35.5% in 2015. The decrease in theeffective income tax rate was primarily attributable to the early adoption of ASU No. 2016-09 in2016, partially offset by increases in non-deductible expenses relating to acquisitions.

NET INCOME was $193.6 million in 2016 and $175.6 million in 2015, an increase of 10%.Diluted earnings per share increased 12% year-over-year, to $2.31 in 2016 compared to $2.06 in 2015due to the higher net income and to a lesser extent, a decrease in the number of weighted-averageshares in the 2016 period.

29

2015 VERSUS 2014

The following table presents the changes in selected line items in our Consolidated Statementsof Operations for the two years ended December 31, 2015 (in thousands):


2015


2014

IncomeIncrease

(Decrease)$

IncomeIncrease

(Decrease)%

Total revenues. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $2,163,056 $2,021,441 $141,615 7%Costs and expenses:Cost of services & product development. . . . . . . . . . . . 839,076 797,933 (41,143) (5)Selling, general and administrative. . . . . . . . . . . . . . . . . . 962,677 876,067 (86,610) (10)Depreciation. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33,789 31,186 (2,603) (8)Amortization of intangibles . . . . . . . . . . . . . . . . . . . . . . . . . 13,342 8,226 (5,116) (62)Acquisition & integration charges . . . . . . . . . . . . . . . . . . 26,175 21,867 (4,308) (20)

Operating income. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 287,997 286,162 1,835 1Interest expense, net. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (20,782) (10,887) (9,895) (91)Other income (expense), net. . . . . . . . . . . . . . . . . . . . . . . . 4,996 (592) 5,588 >100Provision for income taxes. . . . . . . . . . . . . . . . . . . . . . . . . . (96,576) (90,917) (5,659) (6)

Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 175,635 $ 183,766 $ (8,131) (4)%

TOTAL REVENUES for the year ended December 31, 2015 increased $141.6 million, or 7%,compared to the year ended December 31, 2014. Revenues increased by double-digits in ourResearch and Events businesses but declined 6% in Consulting. Excluding the impact of foreigncurrency exchange, total revenues increased 13% in 2015 compared to 2014.

The following table presents total revenues by geographic region for the years ended (inthousands):

Geographic RegionDecember 31,

2015December 31,

2014

Increase(Decrease)

$

Increase(Decrease)

%

U.S. and Canada . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,347,676 $1,204,476 $143,200 12%Europe, Middle East, Africa. . . . . . . . . . . . . . . . . . . . . . . . 557,165 570,334 (13,169) (2)Other International . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 258,215 246,631 11,584 5

Totals. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $2,163,056 $2,021,441 $141,615 7%

The following table presents our revenues by segment for the years ended (in thousands):

SegmentDecember 31,

2015December 31,

2014

Increase(Decrease)

$

Increase(Decrease)

%

Research. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,583,486 $1,445,338 $138,148 10%Consulting . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 327,735 348,396 (20,661) (6)Events . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 251,835 227,707 24,128 11

Totals. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $2,163,056 $2,021,441 $141,615 7%

Please refer to the section of this MD&A below entitled “Segment Results” for a furtherdiscussion of revenues and results by segment.

COST OF SERVICES AND PRODUCT DEVELOPMENT (“COS”) expense increased$41.1 million, or 5%, in 2015 compared to 2014, to $839.1 million compared to $797.9 million in2014. Foreign exchange had a favorable impact on COS expense during 2015, and adjusted for thisimpact, COS expense increased 11% in 2015 when compared to 2014. The year-over-year increase inCOS expense was due to $56.0 million in higher payroll and related benefits costs from additionalheadcount and merit salary increases, and $31.0 million in higher charges in 2015 for events costs,travel, and other corporate expenses. Partially offsetting these increased expenses was approximately$46.0 million in favorable foreign exchange impact. The additional headcount was primarily in ourResearch business which includes the additional employees resulting from our 2015 acquisitions, and

30

to a lesser extent, an increase in headcount in our Consulting business. COS as a percentage ofrevenues was 39% in both the 2015 and 2014 periods.

SELLING, GENERAL AND ADMINISTRATIVE (“SG&A”) expense increased by$86.6 million in 2015, or 10%, to $962.7 million compared to $876.1 million in 2014. Excluding theimpact of foreign currency exchange, SG&A expense increased 16% year-over-year. The increasewas primarily due to $111.0 million in higher payroll and related benefits costs from additionalheadcount, higher sales commissions, and merit salary increases, and we also had $27.0 million inadditional travel and training, recruiting, and other costs. Partially offsetting these additional chargeswas $51.0 million in foreign exchange impact. SG&A headcount increased 17% overall, with themajority of the increase in additional quota-bearing sales associates and related support staff. Quota-bearing sales associates increased 15% year-over-year, to 2,171 at December 31, 2015 from 1,881 atyear-end 2014.

DEPRECIATION expense increased 8% in 2015 compared to 2014, which reflects ouradditional investment in fixed assets.

AMORTIZATION OF INTANGIBLES increased to $13.3 million in 2015 from $8.2 million2014, an increase of 62% year-over-year due to the additional intangibles resulting from ouracquisitions.

ACQUISITION AND INTEGRATION CHARGES was $26.2 million in 2015 compared to$21.9 million in 2014. These charges are directly-related to our acquisitions and primarily includeamounts accrued for payments contingent on the achievement of certain employment conditions,legal, consulting, and severance costs.

OPERATING INCOME increased 1% in 2015 compared to 2014, to $288.0 million in 2015from $286.2 million in 2014. Operating income as a percentage of revenues was 13% in 2015 and14% in 2014, with the decrease primarily driven by higher year-over-year SG&A costs, and to alesser extent a lower gross contribution in the Consulting business and additional charges fromacquisitions.

INTEREST EXPENSE, NET increased 91% year-over-year due to additional borrowings in the2015 period.

OTHER INCOME (EXPENSE), NET was $5.0 million in 2015 which included a $6.8 milliongain from the sale of certain state tax credits partially offset by a net loss resulting from foreigncurrency hedging activities. The $0.6 million expense in 2014 was due to a net loss from foreigncurrency hedging activities.

PROVISION FOR INCOME TAXES was $96.6 million in 2015 compared to $90.9 million in2014 and the effective tax rate was 35.5% for 2015 compared to 33.1% for 2014. The highereffective tax rate in 2015 was primarily due to decreases in foreign tax credit benefits, increases innon-deductible expenses relating to acquisitions, and increases in valuation allowances on foreign netoperating losses.

NET INCOME was $175.6 million in 2015 and $183.8 million in 2014, a decrease of 4%.Diluted earnings per share increased 1% year-over-year, to $2.06 in 2015 compared to $2.03 in 2014,due to a 6% decrease in the number of weighted-average shares in the 2015 period.

SEGMENT RESULTS

We evaluate reportable segment performance and allocate resources based on gross contributionmargin. Gross contribution is defined as operating income excluding certain Cost of services andproduct development charges, SG&A, Depreciation, Acquisition and integration charges, andAmortization of intangibles. Gross contribution margin is defined as gross contribution as apercentage of revenues.

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Research

The following table presents the financial results and business measurements of our Researchsegment as of and for the year ended December 31:

2016 2015Increase

(Decrease)

%Increase

(Decrease) 2015 2014Increase

(Decrease)

%Increase

(Decrease)

Financial Measurements:Revenues(1) . . . . . . . . . . . . . . . . $1,829,721 $1,583,486 $ 246,235 16% $1,583,486 $1,445,338 $ 138,148 10%

Gross contribution(1) . . . . . . . $1,267,760 $1,096,827 $ 170,933 16% $1,096,827 $1,001,914 $ 94,913 9%

Gross contribution margin . 69% 69% — — 69% 69% — —

Business Measurements:

Total contract value(1),(2) . . . $1,930,000 $1,768,300 $ 161,700 9% $1,768,300 $1,605,945 $ 162,355 10%

Research contractvalue(1),(3) . . . . . . . . . . . . . . . . $1,922,500 $1,760,700 $ 161,800 9% $1,760,700 $1,603,200 $ 157,500 10%

Client retention. . . . . . . . . . . . 84% 84% — — 84% 85% (1) point —

Wallet retention . . . . . . . . . . . 104% 105% (1) point — 105% 106% (1) point —

(1) In thousands.

(2) Total contract value represents the value attributable to all of our subscription-related contracts.It is calculated as the annualized value of all contracts in effect at a specific point in time,without regard to the duration of the contract. Total contract value primarily includes Researchdeliverables for which revenue is recognized on a ratable basis, as well as other deliverables(primarily Events tickets) for which revenue is recognized when the deliverable is utilized.

(3) Research contract value represents the value attributable to all of our subscription-relatedresearch products that recognize revenue on a ratable basis. Contract value is calculated as theannualized value of all subscription research contracts in effect at a specific point in time, withoutregard to the duration of the contract.

2016 VERSUS 2015

Research segment revenues increased 16% in 2016 compared to 2015. Excluding the impact offoreign currency exchange, Research revenues increased 17% in 2016. The segment grosscontribution margin was 69% in both annual periods. The contribution margin remained at 69% inspite of a 14% increase in segment headcount, mostly driven by new hires and to a lesser extent theadditional employees resulting from our acquisitions. The headcount increase reflects our continuinginvestment in this business. Total contract value increased 9% on a reported basis in 2016 to$1.93 billion, and increased 14% year-over-year adjusted for the impact of foreign currencyexchange. The growth in contract value was broad-based, with every region and client size andvirtually every industry sector growing at double-digit percentage rates. We increased the number ofour research client enterprises by 3% in 2016, to 11,122. Both client retention and wallet retentionremained strong, at 84% and 104% respectively, as of December 31, 2016.

2015 VERSUS 2014

Research segment revenues increased 10% in 2015 compared to 2014. Excluding the impact offoreign currency, Research revenues increased 16% in 2015. The segment gross contribution marginwas 69% in both annual periods. Total contract value increased 10% in 2015 to $1.77 billion.Adjusted for the impact of foreign currency exchange, total contract value increased 14% year-over-year. The number of research client enterprises increased by 8% in 2015, to 10,796. Client retentionand wallet retention were 84% and 105% respectively, as of December 31, 2015.

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Consulting

The following table presents the financial results and business measurements of our Consultingsegment as of and for the year ended December 31:

2016 2015Increase

(Decrease)

%Increase


(Decrease)

%Increase

(Decrease)

Financial Measurements:Revenues(1) . . . . . . . . . . . . . . . . . . . . . $346,214 $327,735 $ 18,479 6% $327,735 $348,396 $ (20,661) (6)%

Gross contribution(1) . . . . . . . . . . . . $107,585 $107,193 $ 392 —% $107,193 $119,931 $ (12,738) (11)%

Gross contribution margin . . . . . . 31% 33% (2) points — 33% 34% (1) point —

Business Measurements:

Backlog(1) . . . . . . . . . . . . . . . . . . . . . . . $103,800 $117,700 $ (13,900) (12)% $117,700 $102,600 $ 15,100 15%

Billable headcount . . . . . . . . . . . . . . 628 606 22 4% 606 535 71 13%

Consultant utilization . . . . . . . . . . . 66% 66% — — 66% 68% (2) points —

Average annualized revenueper billable headcount(1) . . . . . . $ 383 $ 391 $ (8) (2)% $ 391 $ 442 $ (51) (12)%

(1) Dollars in thousands.

2016 VERSUS 2015

Consulting revenue increased 6% year-over-year, to $346.2 million, with the increase mostly inour core consulting practice. Revenue in our contract optimization practice increased slightly butdeclined in our strategic advisory service (“SAS”) practice. The impact of foreign currency exchangewas not significant. The year-over-year gross contribution margin declined by 2 points, due to severalfactors, including higher payroll costs resulting from higher headcount and severance, as well as therevenue decline in our SAS practice, which has a higher contribution margin than core consulting.Backlog decreased by $13.9 million year-over-year, or 12%, mostly due to a large individual contractbooked in 2015. Excluding that contract, backlog decreased by about 4% year-over-year. The$103.8 million of backlog at year-end 2016 represents approximately 4 months of forward backlog,which is in line with the Company’s operational target.

2015 VERSUS 2014

Consulting revenue decreased 6% year-over-year but was essentially flat excluding the impact offoreign exchange. The revenue decline was primarily in our core consulting practice, which wasmainly driven by the foreign exchange impact. We also had lower revenues in our contractoptimization practice, which can fluctuate from period to period. The year-over-year grosscontribution margin declined by 1 point, primarily driven by costs resulting from higher headcount.Backlog increased by $15.1 million year-over-year, or 15%, to $117.7 million at December 31, 2015.

Events

The following table presents the financial results and business measurements of our Eventssegment as of and for the year ended December 31:

2016 2015Increase

(Decrease)

%Increase


(Decrease)

%Increase

(Decrease)

Financial Measurements:Revenues(1) . . . . . . . . . . . . . . . . . . . . . . . $268,605 $251,835 $ 16,770 7% $251,835 $227,707 $ 24,128 11%

Gross contribution(1) . . . . . . . . . . . . . . $136,655 $130,527 $ 6,128 5% $130,527 $112,384 $ 18,143 16%

Gross contribution margin . . . . . . . . 51% 52% (1) point — 52% 49% 3 points —

Business Measurements:Number of events . . . . . . . . . . . . . . . . 66 65 1 2% 65 61 4 7%

Number of attendees . . . . . . . . . . . . . 54,602 52,595 2,007 4% 52,595 49,047 3,548 7%

(1) Dollars in thousands.

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2016 VERSUS 2015

Events revenues increased $16.8 million when comparing 2016 to 2015, or 7%. Excluding theimpact of foreign currency exchange, revenues increased 6% year-over-year. We held 66 events in2016, consisting of 59 ongoing events and 7 new events, compared to 65 events in 2015. The year-over-year revenue increase was primarily attributable to higher exhibitor revenue at our on-goingevents, which increased 9%, while attendee revenue increased 2%. The number of attendees in 2016increased 4% to 54,602. Average revenue per attendee declined slightly while average revenue perexhibitor increased 9%. The gross contribution margin decreased 1 point year-over-year.

2015 VERSUS 2014

Events revenues increased $24.1 million when comparing 2015 to 2014, or 11%, and increased18% adjusted for the impact of foreign exchange. We held 65 events in 2015, consisting of61 ongoing events and 4 new events, compared to 61 events in 2014. The revenue increase wasprimarily due to higher attendee revenue at our ongoing events and to a lesser extent, higherexhibitor revenue. The number of attendees increased 7% in 2015, and the number of exhibitorsincreased 4%. Average revenue per attendee rose 9% and average revenue per exhibitor increased2%. The gross contribution margin increased 3 points year-over-year.

LIQUIDITY AND CAPITAL RESOURCES

The Company has a five-year credit arrangement that it entered into in June 2016 that providesfor a $600.0 million term loan and a $1.2 billion revolving credit facility (the “2016 CreditAgreement”). As of December 31, 2016, the Company had $585.0 million outstanding under theterm loan and $115.0 million under the revolver and $1.1 billion of available revolver borrowingcapacity under the 2016 Credit Agreement. We had $474.2 million of cash and cash equivalents atDecember 31, 2016.

The 2016 Credit Agreement was amended on January 20, 2017 to permit the acquisition of CEBand the incurrence of an additional $1.375 billion senior secured term loan B facility, a $300.0million 364-day senior unsecured bridge facility and a senior unsecured high-yield bridge facility ofup to $600.0 million (or the issuance of a corresponding amount of debt securities) to finance, inpart, the acquisition and repay certain debt of CEB and to modify certain covenants.

We have historically generated significant cash flows from our operating activities. Ouroperating cash flow has been continuously maintained and enhanced by the leverage characteristicsof our subscription-based business model in our Research segment, which is our largest businesssegment. Revenues in our Research segment increased 16% in 2016 compared to 2015, andconstituted 75% and 73% of our total revenues in 2016 and 2015, respectively. The majority of ourResearch customer contracts are paid in advance, and combined with a strong customer retentionrate and high incremental margins, has resulted in continuously strong operating cash flow. Our cashflow generation has also benefited from our continuing efforts to improve the operating efficienciesof our businesses as well as a focus on the optimal management of our working capital as weincrease our sales volume.

We had operating cash flow of $365.6 million in 2016 compared to $345.6 million in 2015.During 2016 we used $125.0 million in cash to pay down debt and related fees and we used almost$50.0 million in cash for capital expenditures. We also used $34.2 million in cash in 2016 to acquireother businesses and $59.0 million to repurchase our common stock. The amount of cash used in2016 to acquire other businesses and for stock repurchases was significantly less than 2015. Wecurrently have a $1.2 billion board approved authorization to repurchase the Company’s commonstock, and as of December 31, 2016, approximately $1.1 billion of this authorization remains.

Definitive Agreement to Acquire CEB Inc.

On January 5, 2017, the Company and CEB announced that they entered into a definitiveagreement whereby Gartner will acquire all of the outstanding shares of CEB in a transactionvalued at approximately $2.6 billion. The aggregate consideration to be paid by Gartner is expected

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to be approximately $1.8 billion in cash and $0.8 billion of Gartner common stock. Gartner will alsoassume (and refinance) approximately $0.9 billion in CEB debt. Closing of the transaction isexpected to be completed in the first half of 2017.

In connection with the proposed acquisition, the Company entered into a commitment letter forthe purposes of financing the majority of the cash consideration payable and to refinance CEB’sindebtedness. The commitment letter provides for a total of $2.275 billion in additional financing,which includes a seven-year senior secured term loan B facility of up to $1.375 billion, a 364-daysenior unsecured bridge facility of up to $300.0 million, and a senior unsecured high-yield bridgefacility of up to $600.0 million. It is expected that on or prior to the closing of the CEB acquisition,senior unsecured notes will be issued and sold pursuant to an offering pursuant to Rule 144A or aprivate placement in lieu of a portion of, or all of the drawings under, the high-yield bridge facility.The Company expects that the proceeds from the additional financing described above, togetherwith its balance sheet cash and available borrowing capacity under its revolving credit facility, willbe sufficient to pay the aggregate cash consideration and refinance CEB’s indebtedness, as well aspay for certain fees and expenses incurred in connection with the acquisition. The closing of thetransaction and related borrowings will significantly increase the Company’s outstanding debt.

Cash and cash equivalents

Our cash and cash equivalents are held in numerous locations throughout the world. AtDecember 31, 2016, approximately $432.0 million of our total $474.2 million in cash and cashequivalents was held outside the U.S. Of the $432.0 million of cash and cash equivalents heldoutside the United States at December 31, 2016, approximately $340.0 million representsaccumulated undistributed earnings of our non-U.S. subsidiaries. Under U.S. GAAP rules, noprovision for income taxes that may result from the remittance of such earnings is required if theCompany has the ability and intent to reinvest such funds overseas indefinitely. Our current plans donot demonstrate a need to repatriate these undistributed earnings to fund our U.S. operations orotherwise satisfy the liquidity needs of our U.S. operations. We intend to reinvest these earnings inour non-U.S. operations, except in instances in which the repatriation of these earnings would resultin minimal additional tax. As a result, the Company has not recognized income tax expense thatcould result from the remittance of these earnings.

However, future events such as a change in our liquidity needs or U.S. tax laws could cause usto change our repatriation policy and decide to repatriate some or all of these undistributedearnings. As a result, we could be required to accrue additional taxes in the future which could havea material impact on our consolidated financial position, cash flows, and results of operations infuture periods.

The following table summarizes and explains the changes in our cash and cash equivalents forthe three-years ended December 31, 2016 (in thousands):


2016


2015Increase

(Decrease)


2015


2014Increase

(Decrease)

2016 vs. 2015 2015 vs. 2014

Cash provided by operatingactivities(1) . . . . . . . . . . . . . . . . . . . $ 365,632 $ 345,561 $ 20,071 $ 345,561 $ 346,779 $ (1,218)

Cash used in investingactivities . . . . . . . . . . . . . . . . . . . . . (84,049) (242,357) 158,308 (242,357) (162,777) (79,580)

Cash used by financingactivities . . . . . . . . . . . . . . . . . . . . . (174,686) (67,690) (106,996) (67,690) (208,670) 140,980

Net increase (decrease) . . . . . . . . 106,897 35,514 71,383 35,514 (24,668) 60,182Effects of exchange rate

changes . . . . . . . . . . . . . . . . . . . . . . (5,640) (27,840) 22,200 (27,840) (34,020) 6,180Beginning cash and cash

equivalents . . . . . . . . . . . . . . . . . . . 372,976 365,302 7,674 365,302 423,990 (58,688)

Ending cash and cashequivalents . . . . . . . . . . . . . . . . . . . $ 474,233 $ 372,976 $ 101,257 $ 372,976 $ 365,302 $ 7,674

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(1) During 2016, the Company early adopted FASB ASU 2016-09, Improvements to Employee Share-Based Payment Accounting (“ASU No. 2016-09”), which changed the accounting for stock-basedcompensation awards. The adoption of the standard increased our 2016 operating cash flow by$10.0 million with a corresponding decrease in financing activities. Our financial results forperiods prior to 2016 were not impacted. See Note 1—Business and Significant AccountingPolicies in the Notes to the Consolidated Financial Statements for additional information.

2016 VERSUS 2015

Operating

Operating cash flow increased by $20.1 million, or 6%, in 2016 compared to 2015. The 2016increase was primarily due to higher net income and the adoption of ASU No. 2016-09. Partiallyoffsetting these increases were higher cash payments for acquisition and integration costs, bonus andcommissions, and interest on our borrowings.

Investing

We used $84.0 million of cash in our investing activities in 2016 compared to $242.4 million ofcash used in 2015. Cash used in 2015 was substantially higher due to additional expenditures foracquisitions.

Financing

Cash used was $174.7 million in 2016, which consisted of $59.0 million paid for sharerepurchases and $125.0 million for payments and fees on debt, which was partially offset by$9.3 million in cash realized from employee share-related activities. In the 2015 period the Companyused $67.7 million in cash in its financing activities, with $509.0 million in cash used for sharerepurchases, while net borrowings on debt and employee share-related activities provided cash of$441.3 million.

2015 VERSUS 2014

Operating

Operating cash flow decreased slightly when comparing 2015 to 2014. The decrease reflects thenegative impact of a stronger U.S. dollar and lower 2015 net income, as well as additional cashpayments for employee incentives related to our acquisitions, income taxes, and interest on our debtobligations in the 2015 period. Partially offsetting these elements were additional collections in the2015 period.

Investing

We used an additional $79.6 million of cash in our investing activities in 2015 compared to 2014,primarily due to the acquisitions we made during 2015. In total, we used $196.2 million and$124.3 million of cash (net of the cash acquired) for acquisitions in 2015 and 2014, respectively. TheCompany used both existing cash and additional borrowings to finance its 2015 acquisitions. We alsoused an additional $7.6 million in cash for capital expenditures in the 2015 period, with a total of$46.1 million used in 2015 compared to $38.5 million in 2014.

Financing

In total, we used $67.7 million of cash in our financing activities during 2015 compared to$208.7 million of cash used in 2014. The Company used $509.0 million of cash for share repurchasesin 2015 compared to $432.0 million used for share repurchases in 2014. The Company borrowed anadditional $420.0 million in 2015 on a net basis compared to $200.0 million of net additionalborrowings in 2014. Additions to financing cash flows from employee share-based activities were$21.4 million in 2015 and $28.0 million in 2014.

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OBLIGATIONS AND COMMITMENTS

2016 Credit Agreement

The Company’s 2016 Credit Agreement provides for a $600.0 million term loan and a$1.2 billion revolving credit facility. The 2016 Credit Agreement was amended on January 20, 2017to permit the acquisition of CEB and the incurrence of an additional $1.375 billion senior securedterm loan B facility, $300.0 million 364-day senior unsecured bridge facility and a senior unsecuredhigh-yield bridge facility of up to $600.0 million (or the issuance of a corresponding amount of debtsecurities) to finance, in part, the acquisition and repay certain debt of CEB, and to modify certaincovenants. Under the revolving credit facility, amounts may be borrowed, repaid, and re-borrowedthrough the maturity date of the 2016 Credit Agreement in 2021. The term and revolving facilitiesmay be increased, at the Company’s option, by up to an additional $750.0 million in the aggregate.As of December 31, 2016, the Company had $585.0 million outstanding under the term loan and$115.0 million under the revolver. See Note 5—Debt in the Notes to the Consolidated FinancialStatements for additional information regarding the 2016 Credit Agreement.

Off-Balance Sheet Arrangements

Through December 31, 2016, we have not entered into any off-balance sheet arrangements ortransactions with unconsolidated entities or other persons.

Contractual Cash Commitments

The Company has certain commitments that contractually require future cash payments. Thefollowing table summarizes the Company’s contractual cash commitments as of December 31, 2016(in thousands):

Commitment Description:

Due In LessThan

1 YearDue In 2-3

YearsDue In 4-5

Years

Due In MoreThan

5 Years Total

Debt—principal and interest(1) . . . . . . . . . . $20,627 $ 41,209 $741,149 $ 2,515 $ 805,500Operating leases(2) . . . . . . . . . . . . . . . . . . . . . . 49,250 74,714 48,350 142,930 315,244Deferred compensation arrangement(3) . . 3,870 6,475 4,900 28,470 43,715Other(4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11,580 12,230 11,940 30,630 66,380

Totals . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $85,327 $134,628 $806,339 $204,545 $1,230,839

(1) Amounts borrowed under the Company’s 2016 Credit Agreement, which matures in December2021, have been classified in the table based on both contractual and anticipated repayment dates.Interest payments were based on the effective interest rates as of December 31, 2016. SeeNote 5—Debt in the Notes to the Consolidated Financial Statements for additional informationregarding the Company’s debt.

(2) The Company leases various facilities, furniture, computer equipment, and automobiles. Theseleases expire between 2017 and 2032. See Note 1—Business and Significant Accounting Policies inthe Notes to the Consolidated Financial Statements for additional information on the Company’sleases.

(3) The Company has a supplemental deferred compensation arrangement with certain employees.Amounts payable with a known payment date have been classified in the table based on thescheduled payment date. Amounts payable whose payment date is unknown have been includedin the Due In More Than 5 Years category since the Company cannot determine when theamounts will be paid. See Note 13—Employee Benefits in the Notes to the ConsolidatedFinancial Statements for additional information regarding the arrangement.

(4) The Other category includes (i) contractual commitments for software, building maintenance,telecom, and other services; and (ii) projected cash contributions to the Company’s definedbenefit pension plans. See Note 13—Employee Benefits in the Notes to the Consolidated

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Financial Statements for additional information regarding the Company’s defined benefit pensionplans.

In addition to the contractual cash commitments included in the table above, the Company hasother payables and liabilities that may be legally enforceable but are not considered contractualcommitments. Information regarding the Company’s payables and liabilities is included in Note 4—Accounts Payable, Accrued, and Other Liabilities in the Notes to the Consolidated FinancialStatements.

QUARTERLY FINANCIAL DATA

The following tables present our quarterly operating results for the two-year period endedDecember 31:

2016

First Second Third Fourth


Revenues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $557,266 $609,998 $574,059 $703,217Operating income. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 64,429 83,299 48,726 108,687Net income(1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 44,987 51,626 30,484 66,485Net income per share:Basic(1),(2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 0.55 $ 0.63 $ 0.37 $ 0.80

Diluted(1),(2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 0.54 $ 0.62 $ 0.36 $ 0.79

2015

First Second Third Fourth


Revenues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $471,186 $547,936 $500,166 $643,768Operating income. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 48,682 85,220 52,474 101,621Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28,351 51,155 30,366 65,763Net income per share:Basic(2). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 0.33 $ 0.61 $ 0.37 $ 0.80

Diluted(2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 0.32 $ 0.61 $ 0.36 $ 0.78

(1) In 2016 the Company early adopted ASU No. 2016-09, “Improvements to Employee Share-BasedPayment Accounting,” which changed the accounting for stock-based compensation awards (seeNote 1—Business and Significant Accounting Policies in the Notes to the Consolidated FinancialStatements for additional information). The adoption of ASU No. 2016-09 increased our basicand diluted income per share for 2016 by a total of $0.12 per share. Our financial results forperiods prior to 2016 were not impacted.

(2) The aggregate of the four quarters’ basic and diluted earnings per common share may not equalthe reported full calendar year amounts due to the effects of share repurchases, dilutive equitycompensation, and rounding.

RECENTLY ISSUED ACCOUNTING STANDARDS

Accounting standards issued by the various U.S. standard setting and governmental authoritiesthat have not yet become effective and may impact our consolidated financial statements in futureperiods are described below, together with our assessment of the potential impact they may have onour consolidated financial statements and related disclosures in future periods.

Business Combinations—In January 2017, the FASB issued ASU No. 2017-01, “Clarifying theDefinition of a Business” (“ASU No. 2017-01”), which is effective for Gartner on January 1, 2018.ASU No. 2017-01 changes the GAAP definition of a business which can impact the accounting for

38

asset purchases, acquisitions, goodwill impairment, and other assessments. We are currentlyevaluating the impact of ASU No. 2017-01 on our consolidated financial statements.

Statement of Cash Flows—In November 2016, the FASB issued ASU No. 2016-18, “RestrictedCash” (“ASU No. 2016-18”). ASU No. 2016-18 requires that amounts generally described asrestricted cash and restricted cash equivalents be presented with cash and cash equivalents whenreconciling the beginning-of-period and end-of-period total amounts shown on the statement of cashflows. If different, a reconciliation of the cash balances reported in the cash flow statement and thebalance sheet would need to be provided along with explanatory information. ASU No. 2016-18 iseffective for Gartner on January 1, 2018. We are currently evaluating the impact of ASU No.2016-18 on our consolidated financial statements.

Income Taxes—In October 2016, the FASB issued ASU No. 2016-16, “Intra-Entity Transfers ofAssets Other Than Inventory” (“ASU No. 2016-16”). ASU No. 2016-16 accelerates the recognition oftaxes on certain intra-entity transactions and is effective for Gartner on January 1, 2018. CurrentGAAP requires deferral of the income tax implications of an intercompany sale of assets until theassets are sold to a third party or recovered through use. Under the new rule, the seller’s tax effectsand the buyer’s deferred taxes will be immediately recognized upon the sale. We have completed aninitial evaluation of the impact of ASU No. 2016-16 and we do not expect it will have a materialimpact on our consolidated financial statements when adopted but could impact the timing ofrecognition of taxes on future intra-entity transfers.

Statement of Cash Flows—In August 2016, the FASB issued ASU No. 2016-15, “Classification ofCertain Cash Receipts and Cash Payments” (“ASU No. 2016-15”). ASU No. 2016-15 sets forthclassification requirements for certain cash flow transactions. ASU No. 2016-15 is effective forGartner on January 1, 2018, but early adoption is permitted. We have completed an initialevaluation of the impact of ASU No. 2016-15 and we do not expect it will have a material impacton our consolidated financial statements.

Financial Instrument Credit Losses—In June 2016, the FASB issued ASU No. 2016-13,“Financial Instruments—Credit Losses” (“ASU No. 2016-13”). ASU No. 2016-13 amends the currentfinancial instrument impairment model by requiring entities to use a forward-looking approach basedon expected losses to estimate credit losses on certain types of financial instruments, including tradereceivables. ASU No. 2016-13 is effective for Gartner on January 1, 2020, with early adoptionpermitted. We are currently evaluating the potential impact of ASU No. 2016-13 on ourconsolidated financial statements.

Leases—In February 2016, the FASB issued ASU No. 2016-02, “Leases” (“ASU No. 2016-02”)which will require significant changes in the accounting and disclosure for lease arrangements.Currently under U.S. GAAP, lease arrangements that meet certain criteria are considered operatingleases and are not recorded on the balance sheet. All of the Company’s existing lease arrangementsare accounted for as operating leases and are thus not recorded on the Company’s balance sheet.ASU No. 2016-02 will significantly change the accounting for leases since a right-of-use (“ROU”)model must be used in which the lessee must record a ROU asset and a lease liability on thebalance sheet for leases with terms longer than 12 months. Leases will be classified as either financeor operating arrangements, with classification affecting the pattern of expense recognition in theincome statement. ASU No. 2016-02 also requires expanded disclosures about leasing arrangements.ASU No. 2016-02 will be effective for Gartner on January 1, 2019. We are currently evaluating theimpact of ASU No. 2016-02 on our consolidated financial statements.

Financial Instruments Recognition and Measurement—In January 2016, the FASB issuedASU No. 2016-01, “Financial Instruments Overall—Recognition and Measurement of Financial Assetsand Liabilities” (“ASU No. 2016-01”) to address certain aspects of recognition, measurement,presentation, and disclosure of financial instruments. Among the significant changes required byASU No. 2016-01 is that equity investments will be measured at fair value with changes in fair valuerecognized in net income. ASU No. 2016-01 will be effective for Gartner on January 1, 2018. Wehave completed an initial evaluation of the impact of ASU No. 2016-01 and we do not expect it willhave a material impact on our consolidated financial statements but may require additionaldisclosures.

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Revenue—In May 2014, the FASB issued ASU No. 2014-09, “Revenue from Contracts withCustomers” (“ASU No. 2014-09”). ASU No. 2014-09 and related amendments require changes inrevenue recognition policies as well as enhanced disclosures. ASU No. 2014-09 is intended to clarifythe principles for recognizing revenue by removing inconsistencies and weaknesses in existingrevenue recognition rules; provide a more robust framework for addressing revenue recognitionissues; improve comparability of revenue recognition practices across entities, industries, jurisdictionsand capital markets; and provide more useful information to users of financial statements throughimproved disclosures. We have completed an initial assessment of the impact of ASU No. 2014-09on our existing revenue recognition policies and we plan to adopt the rule on January 1, 2018 usingthe cumulative effect method of adoption. ASU No. 2014-09 also requires significantly expandeddisclosures around the nature, amount, timing and uncertainty of revenue and cash flows arisingfrom contracts with customers, which we are currently compiling. While we have not completed ourassessment of the impact of ASU No. 2014-09, based on the analysis completed to date, we do notcurrently anticipate that the new rule will have a material impact on our consolidated financialstatements.

The FASB also continues to work on a number of other accounting rules which if issued couldimpact our accounting policies and disclosures in future periods. However, since these rules have notyet been issued, the effective dates and potential impact are unknown.

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ITEM 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.

INTEREST RATE RISK

The Company’s 2016 Credit Agreement provides for a five-year, $600.0 million term loan and a$1.2 billion revolving credit facility. At December 31, 2016, we had $700.0 million outstanding underthe 2016 Credit Agreement, which included $585.0 million outstanding under the term loan and$115.0 million under the revolver. The 2016 Credit Agreement was amended on January 20, 2017 topermit the acquisition of CEB and the incurrence of an additional $1.375 billion senior secured termloan B facility, $300.0 million 364-day senior unsecured bridge facility and a senior unsecured high-yield bridge facility of up to $600.0 million (or the issuance of a corresponding amount of debtsecurities) to finance, in part, the acquisition and repay certain debt of CEB and to modify certaincovenants. In addition, in connection with financing the CEB acquisition, the Company has receiveda commitment with respect to $600.0 million senior unsecured bridge facilities.

We have cash flow exposure to changes in interest rates since amounts currently borrowedunder our 2016 Credit Agreement are based on a floating base rate of interest. However, we reduceour exposure to changes in interest rates through our interest rate swap contracts which effectivelyconvert the floating base interest rate on the first $700.0 million of our variable rate borrowings tofixed rates. Thus we are exposed to interest rate risk on borrowings under the 2016 CreditAgreement only if our borrowings exceed $700.0 million. At December 31, 2016, the amount ofunhedged borrowings under the 2016 Credit Agreement was zero.

FOREIGN CURRENCY RISK

For the fiscal years ended December 31, 2016 and 2015, 42% and 41%, respectively, of ourrevenues were derived from sales outside of the United States. We conduct business in numerouscurrencies other than the U.S dollar. Among the major foreign currencies in which we conductbusiness are the Euro, the British Pound, the Japanese Yen, the Australian dollar, and the Canadiandollar. The reporting currency of our consolidated financial statements is the U.S. dollar. As thevalues of the foreign currencies in which we operate fluctuate over time relative to the U.S. dollar,the Company is exposed to both foreign currency translation and transaction risk.

Translation risk arises as our foreign currency assets and liabilities are translated into U.S.dollars since the functional currencies of our foreign operations are generally denominated in thelocal currency. Adjustments resulting from the translation of these assets and liabilities are deferredand recorded as a component of stockholders’ equity (deficit). A measure of the potential impact offoreign currency translation can be determined through a sensitivity analysis of our cash and cashequivalents. At December 31, 2016, we had $474.2 million of cash and cash equivalents, with asubstantial portion denominated in foreign currencies. If the exchange rates of the foreign currencieswe hold all changed in comparison to the U.S. dollar by 10%, the amount of cash and cashequivalents we would have reported on December 31, 2016 would have increased or decreased byapproximately $21.0 million. The translation of our foreign currency revenues and expenseshistorically has not had a material impact on our consolidated earnings since movements in andamong the major currencies in which we operate tend to impact our revenues and expenses fairlyequally. However, our earnings could be impacted during periods of significant exchange ratevolatility, or when some or all of the major currencies in which we operate move in the samedirection against the U.S dollar.

Transaction risk arises because our foreign subsidiaries enter into transactions that aredenominated in a currency that may differ from the local functional currency. As these transactionsare translated into the local functional currency, a gain or loss may result, which is recorded incurrent period earnings. We typically enter into foreign currency forward exchange contracts tomitigate the effects of some of this foreign currency transaction risk. Our outstanding currencycontracts as of December 31, 2016 had an immaterial net unrealized loss.

41

CREDIT RISK

Financial instruments that potentially subject the Company to concentration of credit riskconsist primarily of short-term, highly liquid investments classified as cash equivalents, accountsreceivable, and interest rate swap contracts and foreign exchange contracts. The majority of theCompany’s cash and cash equivalents, interest rate swap contracts, and its foreign exchange contractsare with large investment grade commercial banks. Accounts receivable balances deemed to becollectible from customers have a limited concentration of credit risk due to our diverse customerbase and geographic dispersion.

ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA.

Our consolidated financial statements for 2016, 2015, and 2014, together with the reports ofKPMG LLP, our independent registered public accounting firm, are included herein in this AnnualReport on Form 10-K.

ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTINGAND FINANCIAL DISCLOSURE.

None.

ITEM 9A. CONTROLS AND PROCEDURES

DISCLOSURE CONTROLS AND PROCEDURES

Management conducted an evaluation, as of December 31, 2016, of the effectiveness of thedesign and operation of our disclosure controls and procedures, (as such term is defined inRules 13a- 15(e) and 15d- 15(e) under the Securities Exchange Act of 1934, as amended (the“Exchange Act”)) under the supervision and with the participation of our chief executive officer andchief financial officer. Based upon that evaluation, our chief executive officer and chief financialofficer have concluded that our disclosure controls and procedures are effective in alerting them in atimely manner to material Company information required to be disclosed by us in reports filed orsubmitted under the Exchange Act.

MANAGEMENT’S ANNUAL REPORT ON INTERNAL CONTROL OVER FINANCIALREPORTING

Gartner management is responsible for establishing and maintaining adequate internal controlover financial reporting as defined in Exchange Act Rules 13a-15(f) and 15d-15(f). Gartner’s internalcontrol over financial reporting is a process designed to provide reasonable assurance regarding thereliability of financial reporting and the preparation of financial statements for external purposes inaccordance with accounting principles generally accepted in the United States.

Because of its inherent limitations, internal control over financial reporting may not prevent ordetect misstatements. In addition, projections of any evaluation of effectiveness to future periods aresubject to the risk that controls may become inadequate because of changes in conditions and thatthe degree of compliance with the policies or procedures may deteriorate. Management assessed theeffectiveness of our internal control over financial reporting as of December 31, 2016. In making thisassessment, management used the criteria set forth in the Internal Control—Integrated Framework(2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO).Management’s assessment was reviewed with the Audit Committee of the Board of Directors.

Based on its assessment of internal control over financial reporting, management has concludedthat, as of December 31, 2016, Gartner’s internal control over financial reporting was effective. Theeffectiveness of management’s internal control over financial reporting as of December 31, 2016 hasbeen audited by KPMG LLP, an independent registered public accounting firm, as stated in theirreport which is included in this Annual Report on Form 10-K in Part IV, Item 15.

42

CHANGES IN INTERNAL CONTROL OVER FINANCIAL REPORTING

During the quarter ended December 31, 2016, we identified deficiencies in certain generalinformation technology controls (“GITCs”) that affected the use of a report-writer IT applicationoperated in connection with the Company’s enterprise resource planning systems. Specifically, we didnot have effective controls over the configuration of the reports and completeness and accuracy ofinformation presented in the reports. Reports produced by the report-writer IT application are usedin the operation of certain key internal controls. We have determined that these deficiencies in ourinternal control over financial reporting constituted a material weakness that originated in periodsprior to the fourth quarter of 2016. The deficiencies resulted in no misstatements to the current orpreviously issued financial statements.

In connection with the operation of key internal controls performed during the year endedDecember 31, 2016, management designed and implemented effective controls over the generation ofinformation and reports using the report-writer IT application going forward and retrospectivelyoperated those controls for each instance that the reports were used by management as part of itsinternal control over financial reporting during fiscal year 2016, thereby remediating the materialweakness as of December 31, 2016. Further, we have enhanced the design of our existing GITCsover the report-writer application. We will monitor these new controls going forward.

We have determined that the actions taken to date have sufficiently improved the Company’sinternal control over financial reporting such that as of December 31, 2016, there is not a reasonablepossibility that a material misstatement of the Company’s annual or interim financial statements willnot be prevented or detected on a timely basis. Based on the remediation of the deficiencies weconcluded that our internal control over financial reporting was effective as of December 31, 2016.

Other than the changes noted above, there has been no change in our internal control overfinancial reporting during the quarter ended December 31, 2016, that has materially affected, or isreasonably likely to materially affect, our internal control over financial reporting.

ITEM 9B. OTHER INFORMATION

Not applicable.

43

PART III

ITEM 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE

The information required to be furnished pursuant to this item will be set forth under thecaptions “Proposal One: Election of Directors,” “Executive Officers,” “Corporate Governance,”“Section 16(a) Beneficial Ownership Reporting Compliance” and “Miscellaneous—AvailableInformation” in the Company’s Proxy Statement to be filed with the SEC no later than April 30,2017. If the Proxy Statement is not filed with the SEC by April 30, 2017, such information will beincluded in an amendment to this Annual Report filed by April 30, 2017. See also Item 1.Business—Available Information.

ITEM 11. EXECUTIVE COMPENSATION.

The information required to be furnished pursuant to this item is incorporated by referencefrom the information set forth under the caption “Executive Compensation” in the Company’s ProxyStatement to be filed with the SEC no later than April 30, 2017. If the Proxy Statement is not filedwith the SEC by April 30, 2017, such information will be included in an amendment to this AnnualReport filed by April 30, 2017.

ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS ANDMANAGEMENT AND RELATED STOCKHOLDER MATTERS.

The information required to be furnished pursuant to this item will be set forth under thecaption “Security Ownership of Certain Beneficial Owners and Management” in the Company’sProxy Statement to be filed with the SEC by April 30, 2017. If the Proxy Statement is not filed withthe SEC by April 30, 2017, such information will be included in an amendment to this AnnualReport filed by April 30, 2017.

ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS AND DIRECTORINDEPENDENCE.

The information required to be furnished pursuant to this item will be set forth under thecaptions “Transactions With Related Persons” and “Corporate Governance—Director Independence”in the Company’s Proxy Statement to be filed with the SEC by April 30, 2017. If the ProxyStatement is not filed with the SEC by April 30, 2017, such information will be included in anamendment to this Annual Report filed by April 30, 2017.

ITEM 14. PRINCIPAL ACCOUNTANT FEES AND SERVICES.

The information required to be furnished pursuant to this item will be set forth under thecaption “Principal Accountant Fees and Services” in the Company’s Proxy Statement to be filedwith the SEC no later than April 30, 2017. If the Proxy Statement is not filed with the SEC byApril 30, 2017, such information will be included in an amendment to this Annual Report filed byApril 30, 2017.

44

PART IV

ITEM 15. EXHIBITS AND FINANCIAL STATEMENT SCHEDULES.

(a) 1. and 2. Consolidated Financial Statements and Schedules

The reports of our independent registered public accounting firm and consolidated financialstatements listed in the Index to Consolidated Financial Statements herein are filed as part of thisreport.

All financial statement schedules not listed in the Index have been omitted because theinformation required is not applicable or is shown in the consolidated financial statements or notesthereto.

3. Exhibits

EXHIBITNUMBER DESCRIPTION OF DOCUMENT

3.1(1) Restated Certificate of Incorporation of the Company.

3.2(2) Bylaws as amended through February 2, 2012.

4.1(1) Form of Certificate for Common Stock as of June 2, 2005.

4.2(3) Credit Agreement, dated as of June 17, 2016, among the Company, the several lendersfrom time to time parties thereto, and JPMorgan Chase Bank, N.A. as administrativeagent.

4.3(4) First Amendment to Credit Agreement, dated as of January 20, 2017, among theCompany, the several lenders from time to time parties thereto, and JPMorgan ChaseBank, N.A. as administrative agent, filed as of January 24, 2017.

10.1(5) Amended and Restated Lease dated April 16, 2010 between Soundview Farms and theCompany for premises at 56 Top Gallant Road, 70 Gatehouse Road, and 88 GatehouseRoad, Stamford, Connecticut.

10.2(5) First Amendment to Amended and Restated Lease dated April 16, 2010 betweenSoundview Farms and the Company for premises at 56 Top Gallant Road, 70 GatehouseRoad, and 88 Gatehouse Road, Stamford, Connecticut.

10.3(6) 2011 Employee Stock Purchase Plan.

10.4(7) 2003 Long -Term Incentive Plan, as amended and restated effective June 4, 2009.

10.5(8) 2014 Long-Term Incentive Plan, effective May 29, 2014.

10.6(9) Amended and Restated Employment Agreement between Eugene A. Hall and theCompany dated as of March 19, 2016.

10.7(10) Company Deferred Compensation Plan, effective January 1, 2009.

10.8(11) Form of 2017 Stock Appreciation Right Agreement for executive officers.

10.9(11) Form of 2017 Performance Stock Unit Agreement for executive officers.

10.10(12) Agreement and Plan of Merger by and among Gartner, Inc., Cobra Acquisition Corp.and CEB Inc., dated as of January 5, 2017.

10.11(12) Commitment Letter among Gartner, Inc., JPMorgan Chase Bank, N.A. and GoldmanSachs Bank USA, dated January 5, 2017.

21.1* Subsidiaries of Registrant.

23.1* Consent of Independent Registered Public Accounting Firm.

24.1* Power of Attorney (see Signature Page).

31.1* Certification of chief executive officer under Section 302 of the Sarbanes-Oxley Act of2002.

31.2* Certification of chief financial officer under Section 302 of the Sarbanes-Oxley Act of2002.

32* Certification under Section 906 of the Sarbanes-Oxley Act of 2002.

45

* Filed with this document.

† Management compensation plan or arrangement.

(1) Incorporated by reference from the Company’s Current Report on Form 8-K dated June 29,2005 as filed on July 6, 2005.

(2) Incorporated by reference from the Company’s Current Report on Form 8-K dated February 2,2012 as filed on February 7, 2012.

(3) Incorporated by reference from the Company’s Current Report on Form 8-K dated June 17,2016.

(4) Incorporated by reference from the Company’s Current Report on Form 8-K dated January 20,2017 and filed January 24, 2017.

(5) Incorporated by reference from the Company’s Quarterly Report on form 10-Q filed onAugust 9, 2010.

(6) Incorporated by reference from the Company’s Proxy Statement (Schedule 14A) filed onApril 18, 2011.

(7) Incorporated by reference from the Company’s Proxy Statement (Schedule 14A) filed onApril 21, 2009

(8) Incorporated by reference from the Company’s Proxy Statement (Schedule 14A) filed onApril 15, 2014.

(9) Incorporated by reference from the Company’s Quarterly Report on Form 10-Q filed on May 5,2016.

(10) Incorporated by reference from the Company’s Annual Report on Form 10-K filed onFebruary 20, 2009.

(11) Incorporated by reference from the Company’s Current Report on Form 8-K dated February 6,2017 and filed on February 7, 2017.

(12) Incorporated by reference from the Company’s Current Report on Form 8-K dated and filedJanuary 5, 2017.

46

INDEX TO CONSOLIDATED FINANCIAL STATEMENTS

GARTNER, INC.

CONSOLIDATED FINANCIAL STATEMENTS

Report of Independent Registered Public Accounting Firm. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 48

Report of Independent Registered Public Accounting Firm. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 49

Consolidated Balance Sheets as of December 31, 2016 and 2015 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 50

Consolidated Statements of Operations for the Three Year Period Ended December 31, 2016 . . . 51

Consolidated Statements of Comprehensive Income for the Three Year Period EndedDecember 31, 2016 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 52

Consolidated Statements of Stockholders’ Equity (Deficit) for the Three Year Period EndedDecember 31, 2016 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 53

Consolidated Statements of Cash Flows for the Three Year Period Ended December 31, 2016. . . 54

Notes to Consolidated Financial Statements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 55

All financial statement schedules have been omitted because the information required is notapplicable or is shown in the consolidated financial statements or notes thereto.

47

Report of Independent Registered Public Accounting Firm

The Board of Directors and Stockholders

Gartner, Inc.:

We have audited the accompanying consolidated balance sheets of Gartner, Inc. and subsidiaries(the Company) as of December 31, 2016 and 2015, and the related consolidated statements ofoperations, comprehensive income, stockholders’ equity (deficit), and cash flows for each of theyears in the three-year period ended December 31, 2016. These consolidated financial statements arethe responsibility of the Company’s management. Our responsibility is to express an opinion onthese consolidated financial statements based on our audits.

We conducted our audits in accordance with the standards of the Public Company AccountingOversight Board (United States). Those standards require that we plan and perform the audit toobtain reasonable assurance about whether the financial statements are free of materialmisstatement. An audit includes examining, on a test basis, evidence supporting the amounts anddisclosures in the financial statements. An audit also includes assessing the accounting principlesused and significant estimates made by management, as well as evaluating the overall financialstatement presentation. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, the consolidated financial statements referred to above present fairly, in allmaterial respects, the financial position of Gartner, Inc. and subsidiaries as of December 31, 2016and 2015, and the results of their operations and their cash flows for each of the years in the three-year period ended December 31, 2016, in conformity with U.S. generally accepted accountingprinciples.

We also have audited, in accordance with the standards of the Public Company AccountingOversight Board (United States), the Company’s internal control over financial reporting as ofDecember 31, 2016, based on criteria established in Internal Control—Integrated Framework (2013)issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO), andour report dated February 22, 2017 expressed an unqualified opinion on the effectiveness of theCompany’s internal control over financial reporting.

New York, New York

February 22, 2017

48

Report of Independent Registered Public Accounting Firm


Gartner, Inc.:

We have audited Gartner, Inc. and subsidiaries’ (the Company) internal control over financialreporting as of December 31, 2016, based on criteria established in Internal Control—IntegratedFramework (2013) issued by the Committee of Sponsoring Organizations of the TreadwayCommission (COSO). The Company’s management is responsible for maintaining effective internalcontrol over financial reporting and for its assessment of the effectiveness of internal control overfinancial reporting, included in the accompanying Management’s Annual Report on Internal ControlOver Financial Reporting. Our responsibility is to express an opinion on the Company’s internalcontrol over financial reporting based on our audit.

We conducted our audit in accordance with the standards of the Public Company AccountingOversight Board (United States). Those standards require that we plan and perform the audit toobtain reasonable assurance about whether effective internal control over financial reporting wasmaintained in all material respects. Our audit included obtaining an understanding of internalcontrol over financial reporting, assessing the risk that a material weakness exists, and testing andevaluating the design and operating effectiveness of internal control based on the assessed risk. Ouraudit also included performing such other procedures as we considered necessary in thecircumstances. We believe that our audit provides a reasonable basis for our opinion.

A company’s internal control over financial reporting is a process designed to providereasonable assurance regarding the reliability of financial reporting and the preparation of financialstatements for external purposes in accordance with generally accepted accounting principles. Acompany’s internal control over financial reporting includes those policies and procedures that (1)pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect thetransactions and dispositions of the assets of the company; (2) provide reasonable assurance thattransactions are recorded as necessary to permit preparation of financial statements in accordancewith generally accepted accounting principles, and that receipts and expenditures of the company arebeing made only in accordance with authorizations of management and directors of the company;and (3) provide reasonable assurance regarding prevention or timely detection of unauthorizedacquisition, use, or disposition of the company’s assets that could have a material effect on thefinancial statements.

Because of its inherent limitations, internal control over financial reporting may not prevent ordetect misstatements. Also, projections of any evaluation of effectiveness to future periods aresubject to the risk that controls may become inadequate because of changes in conditions, or thatthe degree of compliance with the policies or procedures may deteriorate.

In our opinion, the Company maintained, in all material respects, effective internal control overfinancial reporting as of December 31, 2016, based on criteria established in Internal Control—Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the TreadwayCommission (COSO).

We also have audited, in accordance with the standards of the Public Company AccountingOversight Board (United States), the consolidated balance sheets of Gartner, Inc. and subsidiaries asof December 31, 2016 and 2015, and the related consolidated statements of operations,comprehensive income, stockholders’ equity (deficit), and cash flows for each of the years in thethree-year period ended December 31, 2016, and our report dated February 22, 2017 expressed anunqualified opinion on those consolidated financial statements.

New York, New York

February 22, 2017

49

GARTNER, INC.

CONSOLIDATED BALANCE SHEETS(In thousands, except share data)

2016 2015

December 31,

A S S E T S

Current assets:Cash and cash equivalents . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 474,233 $ 372,976Fees receivable, net of allowances of $7,400 and $6,900 respectively . . 643,013 580,763Deferred commissions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 141,410 124,831Prepaid expenses and other current assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 84,540 62,427

Total current assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,343,196 1,140,997Property, equipment and leasehold improvements, net . . . . . . . . . . . . . . . . . . . . . 121,606 108,733Goodwill . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 738,453 715,359Intangible assets, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 76,801 96,544Other assets. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 87,279 106,884

Total Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 2,367,335 $ 2,168,517

L I A B I L I T I E S A N D S T O C K H O L D E R S ’ E Q U I T Y ( D E F I C I T )

Current liabilities:Accounts payable and accrued liabilities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 440,771 $ 387,691Deferred revenues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 989,478 900,801Current portion of long-term debt. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30,000 35,000

Total current liabilities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,460,249 1,323,492Long-term debt, net of deferred financing fees. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 664,391 783,831Other liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 181,817 193,594

Total Liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,306,457 2,300,917Stockholders’ Equity (Deficit):Preferred stock:

$.01 par value, authorized 5,000,000 shares; none issued oroutstanding . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — —

Common stock:$.0005 par value, authorized 250,000,000 shares for both periods;

156,234,415 shares issued for both periods . . . . . . . . . . . . . . . . . . . . . . 78 78Additional paid-in capital . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 863,127 818,546Accumulated other comprehensive loss, net. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (49,683) (44,402)Accumulated earnings. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,644,005 1,450,684Treasury stock, at cost, 73,583,172 and 73,896,245 common shares,

respectively . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (2,396,649) (2,357,306)

Total Stockholders’ Equity (Deficit) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 60,878 (132,400)

Total Liabilities and Stockholders’ Equity (Deficit) . . . . . . . . . . $ 2,367,335 $ 2,168,517

See Notes to Consolidated Financial Statements.

50

GARTNER, INC.

CONSOLIDATED STATEMENTS OF OPERATIONS(In thousands, except per share data)

2016 2015 2014

Year Ended December 31,

Revenues:Research . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,829,721 $1,583,486 $1,445,338Consulting. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 346,214 327,735 348,396Events. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 268,605 251,835 227,707

Total revenues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,444,540 2,163,056 2,021,441Costs and expenses:

Cost of services and product development . . . . . . . . . . . . . . . . . 945,648 839,076 797,933Selling, general and administrative . . . . . . . . . . . . . . . . . . . . . . . . . 1,089,184 962,677 876,067Depreciation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 37,172 33,789 31,186Amortization of intangibles . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24,797 13,342 8,226Acquisition and integration charges . . . . . . . . . . . . . . . . . . . . . . . . 42,598 26,175 21,867

Total costs and expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,139,399 1,875,059 1,735,279

Operating income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 305,141 287,997 286,162Interest income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,449 1,766 1,413Interest expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (27,565) (22,548) (12,300)Other income (expense), net. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8,406 4,996 (592)

Income before income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 288,431 272,211 274,683Provision for income taxes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 94,849 96,576 90,917

Net income. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 193,582 $ 175,635 $ 183,766

Net income per share:Basic . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 2.34 $ 2.09 $ 2.06

Diluted. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 2.31 $ 2.06 $ 2.03

Weighted average shares outstanding:Basic . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 82,571 83,852 89,337

Diluted. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 83,820 85,056 90,719


51

GARTNER, INC.

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME(In thousands)

2016 2015 2014


Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $193,582 $175,635 $183,766Other comprehensive (loss) income, net of tax

Foreign currency translation adjustments . . . . . . . . . . . . . . . . . . . . . . . . (5,986) (23,089) (27,461)Interest rate hedges—net change in deferred loss . . . . . . . . . . . . . . . 1,670 (1,339) 2,163Pension plans—net change in deferred actuarial loss . . . . . . . . . . . . (965) 1,196 (4,217)

Other comprehensive (loss) income, net of tax . . . . . . . . . . . . . . . . . . . . . . (5,281) (23,232) (29,515)

Comprehensive income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $188,301 $152,403 $154,251


52

GARTNER, INC.

CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY (DEFICIT)(In thousands)

CommonStock

AdditionalPaid-InCapital

AccumulatedOther

Comprehensive(Loss) Income,

NetAccumulated

EarningsTreasury

Stock

TotalStockholders’

Equity(Deficit)

Balance at December 31, 2013 . . . $78 $718,644 $ 8,345 $1,091,283 $(1,457,034) $ 361,316Net income . . . . . . . . . . . . . . . . . . . . . . . — — — 183,766 — 183,766Other comprehensive income . . . . . — — (29,515) — — (29,515)Issuances under stock plans. . . . . . . — (11,727) — — 19,527 7,800Stock compensation tax benefits . . — 18,671 — — — 18,671Common share repurchases. . . . . . . — — — — (419,712) (419,712)Stock compensation expense. . . . . . — 38,845 — — — 38,845

Balance at December 31, 2014 . . . $78 $764,433 $(21,170) $1,275,049 $(1,857,219) $ 161,171Net income . . . . . . . . . . . . . . . . . . . . . . . — — — 175,635 — 175,635Other comprehensive loss . . . . . . . . — — (23,232) — — (23,232)Issuances under stock plans. . . . . . . — (5,964) — — 13,495 7,531Stock compensation tax benefits . . — 13,928 — — — 13,928Common share repurchases. . . . . . . — — — — (513,582) (513,582)Stock compensation expense. . . . . . — 46,149 — — — 46,149

Balance at December 31, 2015 . . . $78 $818,546 $(44,402) $1,450,684 $(2,357,306) $(132,400)Adoption of ASU No. 2016-09 . . . — — — (261) — (261)Net income . . . . . . . . . . . . . . . . . . . . . . . — — — 193,582 — 193,582Other comprehensive loss . . . . . . . . — — (5,281) — — (5,281)Issuances under stock plans. . . . . . . — (2,080) — — 12,419 10,339Common share repurchases. . . . . . . — — — — (51,762) (51,762)Stock compensation expense. . . . . . — 46,661 — — — 46,661

Balance at December 31, 2016 . . . $78 $863,127 $(49,683) $1,644,005 $(2,396,649) $ 60,878


53

GARTNER, INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS(In thousands)

2016 2015 2014


Operating activities:Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 193,582 $ 175,635 $ 183,766

Adjustments to reconcile net income to net cash provided byoperating activities:Depreciation and amortization of intangibles . . . . . . . . . . . . . . . 61,969 47,131 39,412Stock-based compensation expense . . . . . . . . . . . . . . . . . . . . . . . . . 46,661 46,149 38,845Excess tax benefits from stock-based compensation

exercises . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — (13,860) (20,193)Deferred taxes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (2,648) 344 (759)Gain on extinguishment of debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . (2,500) — —Amortization and write-off of debt issue costs. . . . . . . . . . . . . . 3,082 1,512 2,645Changes in assets and liabilities:

Fees receivable, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (68,661) (44,476) (76,424)Deferred commissions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (18,673) (13,236) (12,340)Prepaid expenses and other current assets . . . . . . . . . . . . . . . (21,604) (13,268) (3,017)Other assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20,005 (14,733) (7,139)Deferred revenues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 97,979 91,840 105,354Accounts payable, accrued, and other liabilities . . . . . . . . . . 56,440 82,523 96,629

Cash provided by operating activities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 365,632 345,561 346,779

Investing activities:Additions to property, equipment and leasehold improvements . (49,863) (46,128) (38,486)Acquisitions (net of cash acquired) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (34,186) (196,229) (124,291)

Cash used in investing activities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (84,049) (242,357) (162,777)Financing activities:

Proceeds from ESP Plan . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9,250 7,499 7,767Proceeds from borrowings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 715,000 440,000 400,000Payments on debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (835,000) (20,000) (200,000)Purchases of treasury stock . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (58,961) (509,049) (432,006)Fees paid for debt refinancing . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (4,975) — (4,624)Excess tax benefits from stock-based compensation exercises . . . — 13,860 20,193

Cash used by financing activities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (174,686) (67,690) (208,670)

Net increase (decrease) in cash and cash equivalents. . . . . . . . . . . . . . 106,897 35,514 (24,668)Effects of exchange rates on cash and cash equivalents . . . . . . . . . . . (5,640) (27,840) (34,020)Cash and cash equivalents, beginning of period . . . . . . . . . . . . . . . . . . . 372,976 365,302 423,990

Cash and cash equivalents, end of period . . . . . . . . . . . . . . . . . . . . . . . . . $ 474,233 $ 372,976 $ 365,302

Supplemental disclosures of cash flow information:Cash paid during the period for:

Interest . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 23,400 $ 21,200 $ 10,600Income taxes, net of refunds received. . . . . . . . . . . . . . . . . . . . . . . . . . . $ 86,300 $ 83,500 $ 70,100


54

GARTNER, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

1—BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES

Business. Gartner, Inc. is a global information technology research and advisory companyfounded in 1979 with its headquarters in Stamford, Connecticut. Gartner delivers its principalproducts and services through three business segments: Research, Consulting, and Events. Whenused in these notes, the terms “Gartner,” “Company,” “we,” “us,” or “our” refer to Gartner, Inc.and its consolidated subsidiaries.

Basis of presentation. The accompanying consolidated financial statements have been preparedin accordance with generally accepted accounting principles in the United States of America (“U.S.GAAP”), as defined in the Financial Accounting Standards Board (“FASB”) Accounting StandardsCodification (“ASC”) Topic 270 for financial information and with the applicable instructions ofU.S. Securities & Exchange Commission (“SEC”) Regulation S-X. The fiscal year of Gartnerrepresents the twelve-month period from January 1 through December 31. All references to 2016,2015, and 2014 herein refer to the fiscal year unless otherwise indicated. Certain prior year balancesheet amounts have been reclassified to conform to the current year presentation.

Principles of consolidation. The accompanying consolidated financial statements include theaccounts of the Company and its wholly-owned subsidiaries. All significant intercompany transactionsand balances have been eliminated.

Use of estimates. The preparation of the accompanying consolidated financial statements requiresmanagement to make estimates and assumptions about future events. These estimates and theunderlying assumptions affect the amounts of assets and liabilities reported, disclosures aboutcontingent assets and liabilities, and reported amounts of revenues and expenses. Such estimatesinclude the valuation of fees receivable, goodwill, intangible assets, and other long-lived assets, aswell as tax accruals and other liabilities. In addition, estimates are used in revenue recognition,income tax expense, performance-based compensation charges, depreciation, and amortization.Management believes its use of estimates in the accompanying consolidated financial statements tobe reasonable.

Management continuously evaluates and revises its estimates using historical experience andother factors, including the general economic environment and actions it may take in the future.Management adjusts these estimates when facts and circumstances dictate. However, these estimatesmay involve significant uncertainties and judgments and cannot be determined with precision. Inaddition, these estimates are based on management’s best judgment at a point in time. As a result,differences between our estimates and actual results could be material and would be reflected in theCompany’s consolidated financial statements in future periods.

Business Acquisitions. The Company completed acquisitions in each of the three years endedDecember 31, 2016 and detailed information related to these acquisitions is included in Note 2—Acquisitions. The Company accounts for acquisitions in accordance with the acquisition method ofaccounting as prescribed by FASB ASC Topic No. 805, Business Combinations. The acquisitionmethod of accounting requires the Company to record the net assets and liabilities acquired basedon their estimated fair values as of the acquisition date, with any excess of the considerationtransferred over the estimated fair value of the net assets acquired, including identifiable intangibleassets, to be recorded to goodwill. Under the acquisition method, the operating results of acquiredcompanies are included in the Company’s consolidated financial statements beginning on the date ofacquisition.

The determination of the fair values of intangible and other assets acquired in acquisitionsrequires management judgment and the consideration of a number of factors, significant amongthem the historical financial performance of the acquired businesses and projected performance,estimates surrounding customer turnover, as well as assumptions regarding the level of competitionand the cost to reproduce certain assets. Establishing the useful lives of the intangibles also requiresmanagement judgment and the evaluation of a number of factors, among them projected cash flowsand the likelihood of competition.

55

The Company classifies charges that are directly-related to its acquisitions in the lineAcquisition and Integration Charges in the Consolidated Statements of Operations, and theCompany recorded $42.6 million, $26.2 million, and $21.9 million of such charges in 2016, 2015, and2014, respectively. Included in these directly-related and incremental charges are legal, consulting,retention, severance, and accruals for cash payments subject to the continuing employment of certainkey employees of the acquired companies.

Revenue Recognition. Revenue is recognized in accordance with U.S. GAAP and SEC StaffAccounting Bulletin No. 104, Revenue Recognition (“SAB 104”). Revenues are only recognized onceall required criteria for recognition have been met. The accompanying Consolidated Statements ofOperations present revenues net of any sales or value-added taxes that we collect from customersand remit to government authorities.

The Company’s revenues by significant source are as follows:

Research

Research revenues are mainly derived from subscription contracts for research products. Therelated revenues are deferred and recognized ratably over the applicable contract term. Fees derivedfrom assisting organizations in selecting the right business software for their needs is recognized asearned when the leads are provided to vendors.

The Company typically enters into subscription contracts for research products for twelve-monthperiods or longer. The majority of research contracts are billable upon signing, absent special termsgranted on a limited basis from time to time. Research contracts are non-cancelable and non-refundable, except for government contracts that may have cancellation or fiscal funding clauses,which historically have not produced material cancellations. It is our policy to record the amount ofthe contract that is billable as a fee receivable at the time the contract is signed with acorresponding amount as deferred revenue, since the contract represents a legally enforceable claim.

Consulting

Consulting revenues, primarily derived from consulting, measurement and strategic advisoryservices (paid one-day analyst engagements), are principally generated from fixed fee or time andmaterials engagements. Revenues from fixed fee engagements are recognized on a proportionalperformance basis, while revenues from time and material engagements are recognized as work isdelivered and/or services are provided. Revenues related to contract optimization engagements arecontingent in nature and are only recognized upon satisfaction of all conditions related to theirpayment. Unbilled fees receivable associated with consulting engagements were $45.7 million atDecember 31, 2016 and $43.2 million at December 31, 2015.

Events

Events revenues are deferred and recognized upon the completion of the related symposium,conference or exhibition. In addition, the Company defers certain costs directly related to events andexpenses these costs in the period during which the related symposium, conference or exhibitionoccurs. The Company’s policy is to defer only those costs, primarily prepaid site and productionservices costs, which are incremental and are directly attributable to a specific event. Other costs oforganizing and producing our events, primarily Company personnel and non-event specific expenses,are expensed in the period incurred. At the end of each fiscal quarter, the Company assesses on anevent-by-event basis whether the expected direct costs of producing a scheduled event will exceedthe expected revenues. If such costs are expected to exceed revenues, the Company records theexpected loss in the period determined.

56

GARTNER, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)

Allowance for losses. The Company maintains an allowance for losses which is composed of abad debt allowance and a sales reserve. Provisions are charged against earnings, either as areduction in revenues or an increase to expense. The determination of the allowance for losses isbased on historical loss experience, an assessment of current economic conditions, the aging ofoutstanding receivables, the financial health of specific clients, and probable losses.

Cost of services and product development (“COS”). COS expense includes the direct costsincurred in the creation and delivery of our products and services. These costs primarily relate topersonnel.

Selling, general and administrative (“SG&A”). SG&A expense includes direct and indirect sellingcosts, general and administrative costs, and charges against earnings related to uncollectible accounts.

Commission expense. The Company records commission obligations upon the signing ofcustomer contracts and amortizes the deferred obligation as commission expense over the period inwhich the related revenues are earned. Commission expense is included in SG&A in theConsolidated Statements of Operations.

Stock-based compensation expense. The Company accounts for stock-based compensation inaccordance with FASB ASC Topics No. 505 and 718 and SEC Staff Accounting Bulletins No. 107(“SAB No. 107”) and No. 110 (“SAB No. 110”). Stock-based compensation cost is based on the fairvalue of the award on the date of grant, which is expensed over the related service period, net ofestimated forfeitures. The service period is the period over which the employee performs the relatedservices, which is normally the same as the vesting period. During 2016, 2015 and 2014, theCompany recognized $46.7 million, $46.1 million and $38.8 million, respectively, of stock-basedcompensation expense, a portion of which is recorded in COS and SG&A in the ConsolidatedStatements of Operations. In 2016 the Company early adopted FASB Accounting Standards Update(“ASU”) 2016-09, “Improvements to Employee Share-Based Payment Accounting.” See the“Adoption of new accounting standards” section below for additional information.

Income taxes expense. The Company uses the asset and liability method of accounting forincome taxes. We estimate our income taxes in each of the jurisdictions where we operate. Thisprocess involves estimating our current tax expense together with assessing temporary differencesresulting from differing treatment of items for tax and accounting purposes. These differences resultin deferred tax assets and liabilities, which are included within our consolidated balance sheets. Inassessing the realizability of deferred tax assets, management considers if it is more likely than notthat some or all of the deferred tax assets will not be realized. We consider the availability of losscarryforwards, projected reversal of deferred tax liabilities, projected future taxable income, andongoing prudent and feasible tax planning strategies in making this assessment. The Companyrecognizes the tax benefit from an uncertain tax position only if it is more likely than not the taxposition will be sustained based on the technical merits of the position.

Cash and cash equivalents. Includes cash and all highly liquid investments with originalmaturities of three months or less, which are considered cash equivalents. The carrying value of cashequivalents approximates fair value due to their short-term maturity. Investments with maturities ofmore than three months are classified as marketable securities. Interest earned is classified inInterest income in the Consolidated Statements of Operations.

Property, equipment and leasehold improvements. The Company leases all of its facilities andcertain equipment. These leases are all classified as operating leases in accordance with FASB ASCTopic 840. The cost of these operating leases, including any contractual rent increases, rentconcessions, and landlord incentives, are recognized ratably over the life of the related leaseagreement. Lease expense was $38.0 million, $33.8 million, and $31.5 million in 2016, 2015, and 2014,respectively.

Equipment, leasehold improvements, and other fixed assets owned by the Company arerecorded at cost less accumulated depreciation. Except for leasehold improvements, these fixed

57

GARTNER, INC.


assets are depreciated using the straight-line method over the estimated useful lives of the assets.Leasehold improvements are amortized using the straight-line method over the shorter of theestimated useful lives of the improvement or the remaining term of the related lease. The Companyhad total depreciation expense of $37.2 million, $33.8 million, and $31.2 million in 2016, 2015, and2014, respectively. The Company’s total fixed assets, less accumulated depreciation and amortization,consisted of the following (in thousands):

CategoryUseful Life

(Years) 2016 2015

December 31,

Computer equipment and software . . . . . . . . . . . . . . . . . . . . . . . 2-7 $ 166,385 $ 148,195Furniture and equipment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3-8 43,137 39,072Leasehold improvements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2-15 96,603 87,103

$ 306,125 $ 274,370Less—accumulated depreciation and amortization . . . . . . . . (184,519) (165,637)

Property, equipment, and leasehold improvements, net. . . $ 121,606 $ 108,733

The Company incurs costs to develop internal use software used in our operations, and certainof these costs meeting the criteria outlined in FASB ASC Topic No. 350 are capitalized andamortized over future periods. Net capitalized development costs for internal use software was$16.6 million and $14.1 million at December 31, 2016 and 2015, respectively, which is included in theComputer equipment and software category above. Amortization of capitalized internal softwaredevelopment costs, which is classified in Depreciation in the Consolidated Statements of Operations,totaled $8.8 million and $8.2 million in 2016 and 2015, respectively.

Intangible assets. The Company has finite-lived intangible assets which are amortized againstearnings using the straight-line method over their expected useful lives. Changes in intangible assetssubject to amortization during the two-year period ended December 31, 2016 were as follows (inthousands):

December 31, 2016TradeNames

CustomerRelationships Content Software

Non-Compete Total

Gross cost, December 31, 2015 . . . . . . $ 4,144 $ 62,860 $ 5,450 $16,219 $ 29,330 $118,003Additions due to acquisitions(1) . . . . . . 302 3,677 1,948 — — 5,927Intangibles fully amortized . . . . . . . . . . . — — (162) (125) — (287)Foreign currency translation impact . . (109) (3,168) (3,508) (69) (22) (6,876)

Gross cost . . . . . . . . . . . . . . . . . . . . . . . . . . . 4,337 63,369 3,728 16,025 29,308 116,767Accumulated amortization(2),(3) . . . . . . . (1,737) (16,744) (2,033) (8,904) (10,548) (39,966)

Balance, December 31, 2016 . . . . . . . . . $ 2,600 $ 46,625 $ 1,695 $ 7,121 $ 18,760 $ 76,801

December 31, 2015TradeNames

CustomerRelationships Content Software

Non-Compete Total

Gross cost, December 31, 2014. . . . . . . . . $ 6,924 $27,933 $ 3,560 $ 6,569 $ 9,272 $ 54,258Additions due to acquisitions(1). . . . . . . . . 3,260 42,620 2,000 11,656 20,075 79,611Intangibles fully amortized . . . . . . . . . . . . . (6,013) (7,210) — — — (13,223)Foreign currency translation impact . . . . (27) (483) (110) (2,006) (17) (2,643)

Gross cost . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4,144 62,860 5,450 16,219 29,330 118,003Accumulated amortization(2),(3) . . . . . . . . . (681) (9,028) (3,525) (3,699) (4,526) (21,459)

Balance, December 31, 2015 . . . . . . . . . . . $ 3,463 $53,832 $ 1,925 $12,520 $24,804 $ 96,544

(1) The additions are due to the Company’s acquisitions. See Note 2—Acquisitions for additionalinformation.

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GARTNER, INC.


(2) Intangible assets are amortized against earnings over the following periods: Trade name—2 to 4years; Customer relationships 4 to 7 years; Content—1.5 to 4 years; Software—3 years; Non-compete—3 to 5 years.

(3) Aggregate amortization expense related to intangible assets was $24.8 million, $13.3 million, and$8.2 million in 2016, 2015, and 2014, respectively.

The estimated future amortization expense by year from finite-lived intangibles is as follows (inthousands):

2017 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $23,3562018 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20,0722019 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15,0812020 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12,8972021 and thereafter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5,395

$76,801

Goodwill. Goodwill represents the excess of the purchase price of acquired businesses over theestimated fair value of the tangible and identifiable intangible net assets acquired. The evaluation ofthe recoverability of goodwill is performed in accordance with FASB ASC No. Topic 350, whichrequires an annual assessment of potential goodwill impairment at the reporting unit level andwhenever events or changes in circumstances indicate that the carrying value of goodwill may not berecoverable.

The annual assessment of the recoverability of recorded goodwill can be based on either aqualitative or quantitative assessment or a combination of the two. Both methods utilize estimateswhich, in turn, require judgments and assumptions regarding future trends and events. As a result,both the precision and reliability of the resulting estimates are subject to uncertainty. If our annualgoodwill impairment evaluation determines that the fair value of a reporting unit is less than itsrelated carrying amount, we may recognize an impairment charge against earnings. In connectionwith its most recent annual impairment test of goodwill performed during the third quarter of 2016,the Company utilized the qualitative approach in assessing the fair value of its reporting unitsrelative to their respective carrying values, which indicated no impairment of recorded goodwill.

The following table presents changes to the carrying amount of goodwill by segment during thetwo-year period ended December 31, 2016 (in thousands):

Research Consulting Events Total

Balance, December 31, 2014(1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $445,460 $99,417 $41,788 $586,665Additions due to acquisitions(2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . 138,053 — — 138,053Foreign currency translation adjustments . . . . . . . . . . . . . . . . . . (8,221) (1,005) (133) (9,359)

Balance, December 31, 2015 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $575,292 $98,412 $41,655 $715,359Additions due to acquisitions(2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28,465 — 5,843 34,308Foreign currency translation adjustments . . . . . . . . . . . . . . . . . . (8,307) (1,932) (975) (11,214)

Balance, December 31, 2016 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $595,450 $96,480 $46,523 $738,453

(1) The Company does not have any accumulated goodwill impairment losses.

(2) The additions are due to the Company’s acquisitions (See Note 2—Acquisitions for additionalinformation).

Impairment of long-lived assets. The Company’s long-lived assets primarily consist of intangibleassets other than goodwill and property, equipment, and leasehold improvements. The Companyreviews its long-lived asset groups for impairment whenever events or changes in circumstancesindicate that the carrying amount of the respective asset may not be recoverable. Such evaluation

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GARTNER, INC.


may be based on a number of factors including current and projected operating results and cashflows, changes in management’s strategic direction as well as external economic and market factors.The Company evaluates the recoverability of these assets by determining whether the carrying valuecan be recovered through undiscounted future operating cash flows. If events or circumstancesindicate that the carrying value might not be recoverable based on undiscounted future operatingcash flows, an impairment loss would be recognized. The amount of impairment, if any, is measuredbased on the difference between projected discounted future operating cash flows using a discountrate reflecting the Company’s average cost of funds and the carrying value of the asset. TheCompany did not record any impairment charges for long-lived asset groups during the three yearperiod ended December 31, 2016.

Pension obligations. The Company has defined-benefit pension plans in several of itsinternational locations (see Note 13—Employee Benefits). Benefits earned under these plans aregenerally based on years of service and level of employee compensation. The Company accounts fordefined benefit plans in accordance with the requirements of FASB ASC Topic No. 715. TheCompany determines the periodic pension expense and related liabilities for these plans throughactuarial assumptions and valuations. The Company recognized $3.5 million, $3.5 million, and$3.4 million of expense for these plans in 2016, 2015, and 2014, respectively. The Company classifiespension expense in SG&A in the Consolidated Statements of Operations.

Debt. The Company presents amounts borrowed in the Consolidated Balance Sheets atamortized cost, net of deferred financing fees. Interest accrued on amounts borrowed is classified inInterest expense in the Consolidated Statements of Operations. The Company refinanced its debt in2016 and had $702.5 million of debt outstanding at December 31, 2016 (see Note 5—Debt foradditional information).

Foreign currency exposure. The functional currency of our foreign subsidiaries is typically thelocal currency. All assets and liabilities of foreign subsidiaries are translated into U.S. dollars atexchange rates in effect at the balance sheet date. Income and expense items are translated ataverage exchange rates for the year. The resulting translation adjustments are recorded as foreigncurrency translation adjustments, a component of Accumulated other comprehensive (loss) income,net within the Stockholders’ Equity (Deficit) section of the Consolidated Balance Sheets.

Currency transaction gains or losses arising from transactions denominated in currencies otherthan the functional currency of a subsidiary are recognized in results of operations in Other income(expense), net within the Consolidated Statements of Operations. The Company had net currencytransaction losses of $(0.4) million, $(2.6) million, and $(1.7) million in 2016, 2015, and 2014,respectively. The Company enters into foreign currency forward exchange contracts to mitigate theeffects of adverse fluctuations in foreign currency exchange rates on these transactions. Thesecontracts generally have a short duration and are recorded at fair value with both realized andunrealized gains and losses recorded in Other income (expense), net. The net (loss) gain from thesecontracts was $(0.3) million, $(0.1) million, and $0.6 million in 2016, 2015, and 2014, respectively.

Comprehensive income. The Company reports comprehensive income in a separate statementcalled the Consolidated Statements of Comprehensive Income, which is included herein. TheCompany’s comprehensive income disclosures are included in Note 7—Stockholders’ Equity(Deficit).

Fair value disclosures. The Company has a limited number of assets and liabilities that areadjusted to fair value at each balance sheet date. The Company’s fair value disclosures are includedin Note 12—Fair Value Disclosures.

Concentrations of credit risk. Assets that may subject the Company to concentration of creditrisk consist primarily of short-term, highly liquid investments classified as cash equivalents, feesreceivable, interest rate swaps, and a pension reinsurance asset. The majority of the Company’s cashequivalent investments and its interest rate swap contracts are with investment grade commercial

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banks. Fees receivable balances deemed to be collectible from customers have limited concentrationof credit risk due to our diverse customer base and geographic dispersion. The Company’s pensionreinsurance asset (see Note 13—Employee Benefits) is maintained with a large internationalinsurance company that was rated investment grade as of December 31, 2016.

Stock repurchase programs. The Company records the cost to repurchase its own commonshares to treasury stock. During 2016, 2015 and 2014, the Company used $59.0 million,$509.0 million, and $432.0 million, respectively, in cash for stock repurchases (see Note 7—Stockholders’ Equity (Deficit). Shares repurchased by the Company are added to treasury shares andare not retired.

Adoption of new accounting standards. The Company adopted the following new accountingstandards in the year ended December 31, 2016:

Extraordinary Items—The Company adopted FASB ASU No. 2015-01, “Simplifying IncomeStatement Presentation by Eliminating the Concept of Extraordinary Items” (“ASU No. 2015-01”) onJanuary 1, 2016. ASU No. 2015-01 eliminated the concept of extraordinary items. Historically theconcept caused uncertainty because it was somewhat unclear when an item should be consideredboth unusual and infrequent and it was rare that a transaction or event met the requirements. Theadoption of ASU No. 2015-01 did not have an impact on the Company’s consolidated financialstatements.

Cloud Computing Arrangement Fees—The Company adopted FASB ASU No. 2015-05,“Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement” (“ASU No. 2015-05) onJanuary 1, 2016. ASU No. 2015-05 provides guidance regarding the costs related to cloud computingand hosting arrangements by identifying what portion of the cost relates to purchased software, ifany, and what portion relates to paying for a service. The adoption of ASU No. 2015-05 did nothave an impact on the Company’s consolidated financial statements.

Business Combinations—The Company adopted FASB ASU No. 2015-16, “BusinessCombinations—Simplifying the Accounting for Measurement-Period Adjustments”(“ASU No. 2015-16”) on January 1, 2016. ASU No. 2015-16 requires the recognition of adjustmentsto business combination provisional amounts, that are identified during the measurement period, inthe reporting period in which the adjustments are determined. The effects of the adjustments toprovisional amounts on depreciation, amortization or other income effects are required to berecognized in current-period earnings as if the accounting had been completed at the acquisitiondate. Certain disclosures are also required. The adoption of ASU No. 2015-16 did not have animpact on the Company’s consolidated financial statements.

Debt Issuance Cost Presentation—The Company adopted FASB ASU No. 2015-03, “Simplifyingthe Presentation of Debt Issuance Costs” (“ASU No. 2015-03”) on January 1, 2016. ASU No. 2015-03required that certain debt issuance costs be presented on the balance sheet as a direct deductionfrom the carrying amount of the liability rather than as deferred assets. The Company reclassified itscurrent and prior year debt issuance costs as required by the rule.

Stock-Based Compensation Accounting—The Company early adopted FASB ASU 2016-09,“Improvements to Employee Share-Based Payment Accounting” (“ASU No. 2016-09”), in the thirdquarter of 2016. While the required effective date for the adoption of this rule was January 1, 2017,the Company elected to early adopt ASU No. 2016-09, as permitted by the amendment. ASU No.2016-09 requires certain changes in accounting for stock-based compensation, some of which wasrequired to be applied to the beginning of the Company’s fiscal year beginning January 1, 2016. Ourfinancial results for periods prior to 2016 were not impacted.

Among the changes required by ASU No. 2016-09 is that excess tax benefits or deficienciesresulting from stock-based compensation awards must be recognized in income tax expense in theConsolidated Statement of Operations. Prior to ASU No. 2016-09, excess tax benefits or deficiencieswere recorded in additional paid-in capital in Stockholders’ Equity (Deficit) in the Consolidated

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Balance Sheet. As a result, the benefit from approximately $10.0 million in excess tax benefits fromstock compensation awards was recognized in income tax expense in 2016. This benefit increased our2016 basic and diluted income per share by $0.12 per share. In addition, ASU No. 2016-09 alsorequires excess tax benefits related to stock-based compensation awards to be reported as cash flowsfrom operating activities along with all other income tax cash flows on the Consolidated Statementof Cash Flows. Previously these excess tax benefits were reported as cash flows from financingactivities. ASU No. 2016-09 allows companies to elect either a prospective or retrospectiveapplication for the cash flow classification change, for which the Company elected to apply thisclassification amendment prospectively, effective January 1, 2016. The adoption of ASU No. 2016-09increased the Company’s 2016 operating cash flow by $10.0 million with a corresponding decrease infinancing activities.

ASU No. 2016-09 also permits companies to make an entity-wide accounting policy election torecognize forfeitures of share-based compensation awards as they occur or make an estimate byapplying a forfeiture rate each quarter. The Company previously estimated forfeitures but optionallyelected to change its accounting policy and account for forfeitures as they occur. ASU No. 2016-09requires this change in accounting policy to be applied using a cumulative-effect adjustment toaccumulated earnings as of the beginning of the period in which the rule is adopted. Accordingly,the Company recorded a $0.3 million decrease to its opening accumulated earnings effectiveJanuary 1, 2016.

Accounting standards issued but not yet adopted. The FASB has issued several accountingstandards that have not yet become effective and that may impact the Company’s consolidatedfinancial statements or related disclosures in future periods. These standards and their potentialimpact are discussed below:

Business Combinations—In January 2017, the FASB issued ASU No. 2017-01, “Clarifying theDefinition of a Business” (“ASU No. 2017-01”), which is effective for Gartner on January 1, 2018.ASU No. 2017-01 changes the GAAP definition of a business which can impact the accounting forasset purchases, acquisitions, goodwill impairment, and other assessments. We are currentlyevaluating the impact of ASU No. 2017-01 on the Company’s consolidated financial statements.

Statement of Cash Flows—In November 2016, the FASB issued ASU No. 2016-18, “RestrictedCash” (“ASU No. 2016-18”). ASU No. 2016-18 requires that amounts generally described asrestricted cash and restricted cash equivalents be presented with cash and cash equivalents whenreconciling the beginning-of-period and end-of-period total amounts shown on the statement of cashflows. If different, a reconciliation of the cash balances reported in the cash flow statement and thebalance sheet would need to be provided along with explanatory information. ASU No. 2016-18 iseffective for Gartner on January 1, 2018. We are currently evaluating the impact ofASU No. 2016-18 on the Company’s consolidated financial statements.

Income Taxes—In October 2016, the FASB issued ASU No. 2016-16, “Intra-Entity Transfers ofAssets Other Than Inventory” (“ASU No. 2016-16”). ASU No. 2016-16 accelerates the recognition oftaxes on certain intra-entity transactions and is effective for Gartner on January 1, 2018. CurrentGAAP requires deferral of the income tax implications of an intercompany sale of assets until theassets are sold to a third party or recovered through use. Under the new rule, the seller’s tax effectsand the buyer’s deferred taxes will be immediately recognized upon the sale. We have completed aninitial evaluation of the impact of ASU No. 2016-16 and we do not expect it will have a materialimpact on our consolidated financial statements when adopted but could impact the timing ofrecognition of taxes on future intra-entity transfers.

Statement of Cash Flows—In August 2016, the FASB issued ASU No. 2016-15, “Classification ofCertain Cash Receipts and Cash Payments” (“ASU No. 2016-15”). ASU No. 2016-15 sets forthclassification requirements for certain cash flow transactions. ASU No. 2016-15 is effective forGartner on January 1, 2018, but early adoption is permitted. We have completed an initial

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evaluation of the impact of ASU No. 2016-15 and we do not expect it will have a material impacton our consolidated financial statements.

Financial Instrument Credit Losses—In June 2016, the FASB issued ASU No. 2016-13,“Financial Instruments—Credit Losses” (“ASU No. 2016-13”). ASU No. 2016-13 amends the currentfinancial instrument impairment model by requiring entities to use a forward-looking approach basedon expected losses to estimate credit losses on certain types of financial instruments, including tradereceivables. ASU No. 2016-13 is effective for Gartner on January 1, 2020, with early adoptionpermitted. We are currently evaluating the potential impact of ASU No. 2016-13 on ourconsolidated financial statements.

Leases—In February 2016, the FASB issued ASU No. 2016-02, “Leases” (“ASU No. 2016-02”)which will require significant changes in the accounting and disclosure for lease arrangements.Currently under U.S. GAAP, lease arrangements that meet certain criteria are considered operatingleases and are not recorded on the balance sheet. All of the Company’s existing lease arrangementsare accounted for as operating leases and are thus not recorded on the Company’s balance sheet.ASU No. 2016-02 will significantly change the accounting for leases since a right-of-use (“ROU”)model must be used in which the lessee must record a ROU asset and a lease liability on thebalance sheet for leases with terms longer than 12 months. Leases will be classified as either financeor operating arrangements, with classification affecting the pattern of expense recognition in theincome statement. ASU No. 2016-02 also requires expanded disclosures about leasing arrangements.ASU No. 2016-02 will be effective for Gartner on January 1, 2019. We are currently evaluating theimpact of ASU No. 2016-02 on our consolidated financial statements.

Financial Instruments Recognition and Measurement—In January 2016, the FASB issued ASUNo. 2016-01, “Financial Instruments Overall—Recognition and Measurement of Financial Assets andLiabilities” (“ASU No. 2016-01”) to address certain aspects of recognition, measurement,presentation, and disclosure of financial instruments. Among the significant changes required byASU No. 2016-01 is that equity investments will be measured at fair value with changes in fair valuerecognized in net income. ASU No. 2016-01 will be effective for Gartner on January 1, 2018. Wehave completed an initial evaluation of the impact of ASU No. 2016-01 and we do not expect it willhave a material impact on our consolidated financial statements but may require additionaldisclosures.

Revenue—In May 2014, the FASB issued ASU No. 2014-09, “Revenue from Contracts withCustomers” (“ASU No. 2014-09”). ASU No. 2014-09 and related amendments require changes inrevenue recognition policies as well as enhanced disclosures. ASU No. 2014-09 is intended to clarifythe principles for recognizing revenue by removing inconsistencies and weaknesses in existingrevenue recognition rules; provide a more robust framework for addressing revenue recognitionissues; improve comparability of revenue recognition practices across entities, industries, jurisdictionsand capital markets; and provide more useful information to users of financial statements throughimproved disclosures. The Company has completed an initial assessment of the impact of ASU No.2014-09 on its existing revenue recognition policies and plans to adopt the rule on January 1, 2018using the cumulative effect method of adoption. ASU No. 2014-09 also requires significantlyexpanded disclosures around the nature, amount, timing and uncertainty of revenue and cash flowsarising from contracts with customers, which the Company is currently compiling. While theCompany has not completed its assessment of the impact of ASU No. 2014-09, based on the analysiscompleted to date, the Company does not currently anticipate that the new rule will have a materialimpact on its consolidated financial statements.

The FASB also continues to work on a number of other significant accounting standards whichif issued could materially impact the Company’s accounting policies and disclosures in future periods.However, since these standards have not yet been issued, the effective dates and potential impactare unknown.

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2—ACQUISITIONS

The Company accounts for business acquisitions in accordance with the acquisition method ofaccounting as prescribed by FASB ASC Topic 805, Business Combinations. The acquisition methodof accounting requires the Company to record the net assets and liabilities acquired based on theirestimated fair values as of the acquisition date, with any excess of the consideration transferred overthe estimated fair value of the net assets acquired, including identifiable intangible assets, to berecorded to goodwill. Under the acquisition method, the operating results of acquired companies areincluded in the Company’s consolidated financial statements beginning on the date of acquisition.

The Company completed the following business acquisitions during the years endedDecember 31:

2016

On November 9, 2016, the Company acquired 100% of the outstanding capital stock of MachinaResearch Limited (“Machina”), a privately-held firm based in London with 16 employees. TheCompany paid approximately $4.5 million in cash at close. Machina provides clients withsubscription-based research that provides strategic insight and market intelligence in areas such asIOT (“Internet of things”).

On June 28, 2016, the Company acquired 100% of the outstanding capital stock of Newco 5CLLimited (which operates under the trade name “SCM World”), a privately-held firm based inLondon with 60 employees, for $34.2 million in cash paid at close. SCM World is a leading cross-industry peer network and learning community providing subscription-based research andconferences for supply chain executives. Net of cash acquired with the business and for cash flowreporting purposes, the Company paid approximately $27.9 million in cash for SCM World. Theacquisition of SCM World also included an earn-out provision. The fair value of the earn-out wasrecorded on the acquisition date as part of the cost of the acquisition. The earn-out liability wassubsequently adjusted to fair value with a charge to expense at September 30, 2016. At December31, 2016, the Company determined the final amount of the earn-out and adjusted the liability withan additional charge to expense. In total, the Company recognized $6.5 million in expense related tothe earn-out in 2016. The Company expects to pay the earn-out in cash in early 2017. In addition tothe earn-out, the Company may also be required to pay up to an additional $5.4 million in cash inthe future that is contingent on the achievement of certain employment conditions by several keyemployees (who are also former shareholders) of SCM World, which is being recognized as anexpense over the related service period of two-years and is being reported in Acquisition andIntegration Charges in the Consolidated Statements of Operations.

The Company recorded $32.4 million of goodwill and $5.9 million of amortizable intangibleassets for these two acquisitions and an immaterial amount of other assets on a net basis. Theoperating results and the related goodwill are being reported as part of the Company’s Research andEvents segments and goodwill resulting from these acquisitions will not be deductible for taxpurposes. The Company considers the allocation of the purchase price to be preliminary with respectto the completion of certain tax contingencies. The Company believes the recorded goodwill issupported by the anticipated revenue synergies resulting from the acquisitions. The Company’sfinancial statements include the operating results of the acquired businesses beginning from theirrespective acquisition dates, which were not material to either the Company’s consolidated operatingresults or segment results for 2016. Had the Company acquired these businesses in prior periods, theimpact to the Company’s operating results for prior periods would not have been material, and as aresult pro forma financial information for prior periods has not been presented.

The Company also recorded an additional $1.9 million of goodwill in 2016 related to its prioryear acquisition of Capterra, Inc. The goodwill increase resulted from certain measurement periodadjustments as well as payments related to the settlement of working capital provisions.

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2015

The Company acquired 100% of the outstanding shares of Nubera eBusiness S.L., and Capterra,Inc., during 2015. Each of these businesses assist clients with selecting business software. Theaggregate purchase price was $206.9 million in cash, which included $25.6 million placed in escrowwhich the Company expects to pay in late 2017. Net of cash acquired with the businesses and forcash flow reporting purposes the Company paid $196.2 million in cash in 2015. The Company mayalso be required to pay up to an additional $32.0 million in cash in the future subject to thecontinuing employment of certain key employees. The $32.0 million is being recognized ascompensation expense over three years and is being reported in Acquisition and Integration Chargesin the Consolidated Statements of Operations. The Company recorded $79.6 million and$138.1 million of amortizable intangible assets and goodwill, respectively, and $10.8 million inliabilities on a net basis for these acquisitions.

2014

The Company acquired 100% of the outstanding shares of three companies in 2014: SoftwareAdvice, Inc., Market-Visio Oy, and SircleIT Inc. Software Advice, Inc. assists clients with softwarepurchases, while Market-Visio Oy was previously an independent sales agent of Gartner researchproducts. SircleIT Inc. is a developer of cloud-based knowledge automation software. The aggregatepurchase price of these businesses was $115.4 million in cash. Net of cash acquired with thebusinesses and for cash flow reporting purposes the Company paid $109.9 million. The Companyalso placed an additional $14.4 million in escrow, of which $0.8 million was paid in 2015. TheCompany recorded $110.3 million of goodwill and other intangible assets and $5.1 million of otherassets on a net basis for these acquisitions. The Company also paid an additional $31.9 million incash related to the continuing employment of certain key employees which was recognized ascompensation expense over the two-year service period of the employees and was classified inAcquisition and Integration Charges in the Consolidated Statements of Operations. The Companypaid $9.2 million of the $31.9 million in 2015 and $22.7 million in 2016, of which $13.6 million waspaid from escrow.

3—OTHER ASSETS

Other assets consist of the following (in thousands):

2016 2015

December 31,

Benefit plan-related assets. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $45,958 $ 42,168Non-current deferred tax assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27,275 26,418Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14,046 38,298

Total other assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $87,279 $106,884

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4—ACCOUNTS PAYABLE, ACCRUED, AND OTHER LIABILITIES

Accounts payable and accrued liabilities consist of the following (in thousands):

2016 2015

December 31,

Accounts payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 41,009 $ 31,570Payroll and employee benefits payable. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 87,821 85,575Severance and retention bonus payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22,425 38,557Bonus payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 105,549 90,989Commissions payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 68,273 66,054Taxes payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20,378 13,714Other accrued liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 95,316 61,232

Total accounts payable and accrued liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . $440,771 $387,691

Other liabilities consist of the following (in thousands):

2016 2015

December 31,

Non-current deferred revenue. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 11,289 $ 7,603Long-term taxes payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19,737 13,784Deferred rent . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13,747 15,207Benefit plan-related liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 67,747 62,675Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 69,297 94,325

Total other liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $181,817 $193,594

5—DEBT

2016 Credit Agreement

The Company has a $1.8 billion credit arrangement that it entered into in mid-2016 (the “2016Credit Agreement”) that provides for a five-year, $600.0 million term loan and a $1.2 billionrevolving credit facility. The term loan will be repaid in 16 consecutive quarterly installments whichcommenced on September 30, 2016, plus a final payment due in June 2021, and may be prepaid atany time without penalty or premium (other than applicable breakage costs) at the option of theCompany. The revolving credit facility may be used for loans, and up to $50.0 million may be usedfor letters of credit. The revolving loans may be borrowed, repaid and re-borrowed until June 2021,at which time all amounts borrowed must be repaid.

Amounts borrowed under the 2016 Credit Agreement bear interest at a rate equal to, atGartner’s option, either:

(1) the greater of: (i) the administrative agent’s prime rate; (ii) the average rate onovernight federal funds plus 1/2 of 1%; (iii) the eurodollar rate (adjusted for statutory reserves)plus 1%; in each case plus a margin equal to between 0.125% and 0.50% depending onGartner’s consolidated leverage ratio as of the end of the four consecutive fiscal quarters mostrecently ended; or

(2) the eurodollar rate (adjusted for statutory reserves) plus a margin equal to between1.125% and 3.00%, depending on Gartner’s leverage ratio as of the end of the four consecutivefiscal quarters most recently ended.

The 2016 Credit Agreement contains certain customary restrictive loan covenants, including,among others, financial covenants requiring a maximum leverage ratio, a minimum interest expensecoverage ratio, and covenants limiting Gartner’s ability to incur indebtedness, grant liens, makeacquisitions, be acquired, dispose of assets, pay dividends, repurchase stock, make capital

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expenditures, make investments and enter into certain transactions with affiliates. The Company wasin full compliance with the loan covenants as of December 31, 2016. The 2016 Credit Agreementwas amended on January 20, 2017 to permit the acquisition of CEB (see Note 16—SubsequentEvents) and the incurrence of an additional $1.375 billion senior secured term loan B facility,$300.0 million 364-day senior unsecured bridge facility and a senior unsecured high-yield bridgefacility of up to $600.0 million (or the issuance of a corresponding amount of debt securities) tofinance, in part, the acquisition and repay certain debt of CEB, and to modify certain covenants.

The following table summarizes the Company’s total outstanding borrowings (in thousands):

Description:

AmountOutstanding

December 31,2016

AmountOutstanding

December 31,2015

Term loan(1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $585,000 $380,000Revolver(1),(2). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 115,000 440,000Other(3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,500 5,000

Subtotal(4),(5) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 702,500 825,000Less: deferred financing fees. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (8,109) (6,169)

Net carrying amount. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $694,391 $818,831

(1) The contractual annual interest rate as of December 31, 2016 on both the term loan and therevolver was 2.15%, which consisted of a floating Eurodollar base rate of 0.77% plus a margin of1.38%. However, the Company has interest rate swap contracts which effectively convert thefloating eurodollar base rate to a fixed base rate on $700.0 million of borrowings (see below).

(2) The Company had $1.1 billion of available borrowing capacity on the revolver (not including theexpansion feature) as of December 31, 2016.

(3) Consists of a State of Connecticut economic development loan with a 3.0% fixed rate of interestthat matures in 2022. During 2016, $2.5 million of the $5.0 million original balance wasextinguished after the Company met certain employment targets. As a result of the loanextinguishment, the Company recorded a gain of $2.5 million, which was recorded in Otherincome (expense), net in the Consolidated Statements of Operations.

(4) As of December 31, 2016, $30.0 million of the debt was classified as short-term and$672.5 million was classified as long- term on the Consolidated Balance Sheet.

(5) The weighted-average annual interest rate on the Company’s outstanding debt as ofDecember 31, 2016 was 2.80%, which includes the impact of the Company’s interest swapcontracts, which are discussed below.

Interest Rate Hedges

As of December 31, 2016, the Company had three fixed-for-floating interest rate swap contracts.The swaps have a total notional value of $700.0 million and mature in late 2019. The Companydesignates the swaps as accounting hedges of the forecasted interest payments on $700.0 million ofthe Company’s variable rate borrowings. The Company pays base fixed rates on these swaps rangingfrom 1.53% to 1.60% and in return receives a floating eurodollar base rate on $700.0 million of30-day notional borrowings.

The Company accounts for the interest rate swaps as cash flow hedges in accordance withFASB ASC Topic No. 815. Since the swaps hedge forecasted interest payments, changes in the fairvalue of the swaps are recorded in accumulated other comprehensive (loss) income, a component ofequity, as long as the swaps continue to be highly effective hedges of the designated interest raterisk. Any ineffective portion of change in the fair value of the hedges is recorded in earnings. All of

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the swaps were highly effective hedges of the forecasted interest payments as of December 31, 2016.The interest rate swaps had a total negative fair value to the Company as of December 31, 2016 and2015 of $2.3 million and $5.1 million, respectively, which is deferred and classified in accumulatedother comprehensive (loss) income, net of tax effect.

Letters of Credit

The Company had $8.5 million of letters of credit and related guarantees outstanding at year-end 2016. The Company issues these instruments in the ordinary course of business to facilitatetransactions with customers and others.

6—COMMITMENTS AND CONTINGENCIES

Contractual Lease Commitments. The Company leases various facilities, computer and officeequipment, furniture, and other assets under non-cancelable operating lease agreements expiringbetween 2017 and 2032. The future minimum annual cash payments under these operating leaseagreements as of December 31, 2016 was as follows (in thousands):

Year ended December 31,

2017 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 49,2502018 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 41,0742019 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33,6402020 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25,4522021 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22,898Thereafter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 142,930

Total minimum lease payments. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $315,244

Legal Matters. We are involved in various legal and administrative proceedings and litigationarising in the ordinary course of business. The outcome of these individual matters is not predictableat this time. However, we believe that the ultimate resolution of these matters, after consideringamounts already accrued and insurance coverage, will not have a material adverse effect on ourfinancial position, results of operations, or cash flows in future periods.

Indemnifications. The Company has various agreements that may obligate us to indemnify theother party with respect to certain matters. Generally, these indemnification clauses are included incontracts arising in the normal course of business under which we customarily agree to hold theother party harmless against losses arising from a breach of representations related to such mattersas title to assets sold and licensed or certain intellectual property rights. It is not possible to predictthe maximum potential amount of future payments under these indemnification agreements due tothe conditional nature of the Company’s obligations and the unique facts of each particularagreement. Historically, payments made by us under these agreements have not been material. As ofDecember 31, 2016, we did not have any indemnification agreements that could require materialpayments.

7—STOCKHOLDERS’ EQUITY (DEFICIT)

Common stock. Holders of Gartner’s Common Stock, par value $.0005 per share (“CommonStock”) are entitled to one vote per share on all matters to be voted by stockholders. The Companydoes not currently pay cash dividends on its Common Stock. Also, our 2016 Credit Agreement

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contains a negative covenant which may limit our ability to pay dividends. The following tablesummarizes transactions relating to Common Stock for the three years ended December 31, 2016:

IssuedShares

TreasuryStockShares

Balance at December 31, 2013 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 156,234,415 64,268,863Issuances under stock plans . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (1,452,419)Purchases for treasury(1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5,897,446

Balance at December 31, 2014 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 156,234,415 68,713,890Issuances under stock plans . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — (1,003,746)Purchases for treasury(1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — 6,186,101

Balance at December 31, 2015 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 156,234,415 73,896,245Issuances under stock plans . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — (923,696)Purchases for treasury(1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — 610,623

Balance at December 31, 2016 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 156,234,415 73,583,172

(1) The Company used a total of $59.0 million, $509.0 million, and $432.0 million in cash for sharerepurchases in 2016, 2015, and 2014, respectively.

Share repurchase authorization. The Company has a $1.2 billion board authorization torepurchase the Company’s common stock. The Company may repurchase its common stock fromtime-to-time in amounts and at prices the Company deems appropriate, subject to the availability ofstock, prevailing market conditions, the trading price of the stock, the Company’s financialperformance and other conditions. Repurchases may be made through open market purchases,private transactions or other transactions and will be funded from cash on hand and borrowingsunder the Company’s 2016 Credit Agreement. As of December 31, 2016, approximately $1.1 billionof this authorization remained available for repurchases.

Opening adjustment to accumulated earnings. The Company early adopted FASB ASU No.2016-09, “Improvements to Employee Share-Based Payment Accounting” in 2016. The adoption ofASU No. 2016-09 resulted in a $0.3 million decrease to the Company’s opening accumulatedearnings balance effective January 1, 2016. Note 1—Business and Significant Accounting Policiesprovides additional information regarding ASU No. 2016-09.

Accumulated other comprehensive (loss) income, net. The following tables disclose informationabout changes in accumulated other comprehensive (loss) income (“AOCL/I”), a component ofequity, by component and the related amounts reclassified out of AOCL/I to income during theyears indicated (net of tax, in thousands)(1):

2016

InterestRate Swaps

DefinedBenefitPension

Plans

ForeignCurrency

TranslationAdjustments Total

Balance—December 31, 2015 . . . . . . . . . . . . . . . . . . . . . . . . . . . . $(3,079) $(4,832) $(36,491) $(44,402)Changes during the period:Change in AOCL/I before reclassifications to income . . . (2,902) (1,113) (5,986) (10,001)Reclassifications from AOCL/I to income during the

period(2),(3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4,572 148 — 4,720Other comprehensive income (loss) for the period. . . . . . . 1,670 (965) (5,986) (5,281)

Balance—December 31, 2016 . . . . . . . . . . . . . . . . . . . . . . . . . . . . $(1,409) $(5,797) $(42,477) $(49,683)

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2015

InterestRate Swaps

DefinedBenefitPension

Plans

ForeignCurrency

TranslationAdjustments Total

Balance—December 31, 2014 . . . . . . . . . . . . . . . . . . . . . . . . . . . . $(1,740) $(6,028) $(13,402) $(21,170)Changes during the period:Change in AOCL/I before reclassifications to income . . . (6,356) 986 (23,089) (28,459)Reclassifications from AOCL/I to income during the

period(2),(3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5,017 210 — 5,227

Other comprehensive (loss) income for the period. . . . . . . (1,339) 1,196 (23,089) (23,232)

Balance—December 31, 2015 . . . . . . . . . . . . . . . . . . . . . . . . . . . . $(3,079) $(4,832) $(36,491) $(44,402)

(1) Amounts in parentheses represent debits (deferred losses).

(2) The reclassifications related to interest rate swaps (cash flow hedges) were recorded in Interestexpense, net of tax effect. See Note 11—Derivatives and Hedging for information regarding thehedges.

(3) The reclassifications related to defined benefit pension plans were recorded in Selling, generaland administrative expense, net of tax effect. See Note 13—Employee Benefits for informationregarding the Company’s defined benefit pension plans.

8—STOCK-BASED COMPENSATION

The Company grants stock-based compensation awards as an incentive for employees anddirectors to contribute to the Company’s long-term success. The Company currently awards stock-settled stock appreciation rights, service-based and performance-based restricted stock units, andcommon stock equivalents. At December 31, 2016, the Company had 6.2 million shares of itsCommon Stock, par value $.0005 per share available for stock-based compensation awards under its2014 Long-Term Incentive Plan.

The Company accounts for stock-based compensation awards in accordance with FASB ASCTopics No. 505 and 718, as interpreted by SEC Staff Accounting Bulletins No. 107 (“SAB No. 107”)and No. 110 (“SAB No. 110”). Stock-based compensation expense is based on the fair value of theaward on the date of grant, which is then recognized as expense over the related service period. Theservice period is the period over which the related service is performed, which is generally the sameas the vesting period. Currently, the Company issues treasury shares upon the exercise, release orsettlement of stock-based compensation awards.

Determining the appropriate fair value model and calculating the fair value of stock-basedcompensation awards requires the input of certain complex and subjective assumptions, including theexpected life of the stock-based compensation awards and the Common Stock price volatility. Inaddition, determining the appropriate amount of associated periodic expense requires management toestimate the likelihood of the achievement of certain performance targets. The assumptions used incalculating the fair value of stock-based compensation awards and the associated periodic expenserepresent management’s best estimates, which involve inherent uncertainties and the application ofjudgment. As a result, if factors change and the Company deems it necessary in the future to modifythe assumptions it made or to use different assumptions, or if the quantity and nature of theCompany’s stock-based compensation awards changes, then the amount of expense may need to beadjusted and future stock-based compensation expense could be materially different from what hasbeen recorded in the current period.

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Adoption of ASU No. 2016-09

The Company early adopted FASB ASU No. 2016-09, “Improvements to Employee Share-BasedPayment Accounting,” in the third quarter of 2016. ASU No. 2016-09 requires certain changes inaccounting for stock compensation under FASB ASC Topic No. 718. Among the changes requiredby ASU No. 2016-09 is that excess tax benefits or deficiencies resulting from stock-basedcompensation awards must be recognized in income tax expense in the Consolidated Statements ofOperations. Prior to ASU No. 2016-09, excess tax benefits or deficiencies were recorded inadditional paid-in capital in Stockholders’ Equity (Deficit) in the Consolidated Balance Sheets.ASU No. 2016-09 also requires that excess tax benefits related to stock-based compensation awardsbe reported as cash flows from operating activities on the Consolidated Statements of Cash Flows;previously these excess tax benefits were reported as cash flows from financing activities. ASU No.2016-09 allows companies to elect either a prospective or retrospective application for the cash flowclassification change, for which the Company has elected to apply this classification amendmentprospectively, effective January 1, 2016. ASU No. 2016-09 also permits companies to make an entity-wide accounting policy election to recognize forfeitures of stock-based compensation awards as theyoccur or make an estimate by applying a forfeiture rate each quarter. The Company previouslyestimated forfeitures but optionally selected to change its accounting policy and account forforfeitures as they occur, the impact of which was not material. The adoption of ASU No. 2016-09increased the Company’s diluted net income per share for 2016 by $0.12 per share. In addition,ASU No. 2016-09 increased the Company’s operating cash flow in 2016 by $10.0 million with acorresponding decrease in financing activities cash flow. The Company’s financial results for periodsprior to 2016 were not impacted.

Stock-Based Compensation Expense

The Company recognized the following amounts of stock-based compensation expense by awardtype for the years ended December 31 (in millions):

Award type: 2016 2015 2014

Stock appreciation rights . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 5.6 $ 5.7 $ 5.0Common stock equivalents . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.7 0.6 0.6Restricted stock units . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 40.4 39.8 33.2

Total(1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $46.7 $46.1 $38.8

Stock-based compensation expense was recognized by line item in the Consolidated Statementsof Operations for the years ended December 31 as follows (in millions):

Amount recorded in: 2016 2015 2014

Costs of services and product development . . . . . . . . . . . . . . . . . . . . . . . . . . . $21.9 $20.6 $17.6Selling, general, and administrative . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24.8 25.5 21.2

Total(1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $46.7 $46.1 $38.8

(1) Includes charges of $19.4 million, $20.1 million, and $14.8 million in 2016, 2015 and 2014,respectively, for awards to retirement-eligible employees. These awards vest on an acceleratedbasis.

As of December 31, 2016, the Company had $49.4 million of total unrecognized stock-basedcompensation cost, which is expected to be recognized as stock-based compensation expense overthe remaining weighted-average service period of approximately 2.3 years.

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Stock-Based Compensation Awards

The following disclosures provide information regarding the Company’s stock-basedcompensation awards, all of which are classified as equity awards in accordance with FASB ASCTopic No. 505:

Stock Appreciation Rights

Stock-settled stock appreciation rights (SARs) permit the holder to participate in theappreciation of the Common Stock. SARs are settled in shares of Common Stock by the employeeonce the applicable vesting criteria have been met. SARs vest ratably over a four-year service periodand expire seven years from the grant date. The fair value of SARs awards is recognized ascompensation expense on a straight-line basis over four years. SARs have only been awarded to theCompany’s executive officers.

When SARs are exercised, the number of shares of Common Stock issued is calculated asfollows: (1) the total proceeds from the SARs exercise (calculated as the closing price of theCommon Stock on the date of exercise less the exercise price of the SARs, multiplied by thenumber of SARs exercised) is divided by (2) the closing price of the Common Stock as reported onthe New York Stock Exchange on the exercise date. The Company withholds a portion of the sharesof Common Stock issued upon exercise to satisfy statutory tax withholding requirements. SARsrecipients do not have any stockholder rights until after actual shares of Common Stock are issuedin respect of the award, which is subject to the prior satisfaction of the vesting and other criteriarelating to such grants.

The following table summarizes changes in SARs outstanding for the year ended December 31,2016:

StockAppreciation

Rights (SARs)(in millions)

Per ShareWeighted-Average

Exercise Price


Grant DateFair Value

Weighted-Average

RemainingContractual

Term (in years)

Outstanding at December 31, 2015. . . . . . . . . . . . 1.3 $56.47 $14.92 4.46 yearsGranted . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.4 80.06 16.50 6.11 yearsForfeited . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — — — —Exercised . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (0.4) 40.65 13.03 na

Outstanding at December 31, 2016(1),(2). . . . . . . . 1.3 $66.22 $15.77 4.40 years

Vested and exercisable at December 31,2016(2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.5 $55.15 $14.91 3.25 years

na = not applicable

(1) At December 31, 2016, 0.8 million of these SARs were unvested. The Company expects thatsubstantially all of these unvested awards will vest in future periods.

(2) At December 31, 2016, SARs outstanding had an intrinsic value of $46.8 million. SARs vestedand exercisable had an intrinsic value of $25.1 million.

The fair value of the SARs is determined on the date of grant using the Black-Scholes-Mertonvaluation model with the following weighted-average assumptions for the years ended December 31:

2016 2015 2014

Expected dividend yield(1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . —% —% —%Expected stock price volatility(2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22% 24% 25%Risk-free interest rate(3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.1% 1.5% 1.3%Expected life in years(4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4.39 4.41 4.43

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(1) The dividend yield assumption is based on both the history and expectation of the Company’sdividend payouts. Historically the Company has not paid cash dividends on its Common Stock.

(2) The determination of expected stock price volatility was based on both historical Common Stockprices and the implied volatility from publicly traded options in Common Stock.

(3) The risk-free interest rate is based on the yield of a U.S. Treasury security with a maturitysimilar to the expected life of the award.

(4) The expected life represents the Company’s weighted-average estimate of the period of time theSARs are expected to be outstanding (that is, the period between the service inception date andthe expected exercise date).

Restricted Stock Units

Restricted stock units (RSUs) give the awardee the right to receive shares of Common Stockwhen the vesting conditions are met and the restrictions lapse, and each RSU that vests entitles theawardee to one common share. RSU awardees do not have any of the rights of a Gartnerstockholder, including voting rights and the right to receive dividends and distributions, until theshares are released. The fair value of RSUs is determined on the date of grant based on the closingprice of the Common Stock as reported by the New York Stock Exchange on that date. Service-based RSUs vest ratably over four years and are expensed on a straight-line basis over four years.Performance-based RSUs are subject to the satisfaction of both performance and service conditions,vest ratably over four years, and are expensed on an accelerated basis.

The following table summarizes the changes in RSUs outstanding during the year endedDecember 31, 2016:

RestrictedStock Units

(RSUs)(in millions)

Per ShareWeightedAverage


Outstanding at December 31, 2015 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.4 $62.80Granted(1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.6 81.41Vested and released . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (0.6) 58.15Forfeited. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (0.1) 69.40

Outstanding at December 31, 2016(2),(3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.3 $73.19

(1) The 0.6 million RSUs granted in 2016 consisted of 0.3 million performance-based RSUs awardedto executives and 0.3 million service-based RSUs awarded to non-executive employees and non-management board members. The 0.3 million of performance-based RSUs was determined basedon the achievement of an increase in the Company’s total contract value in 2016. Total contractvalue represents the value attributable to all of our subscription-related contracts.

(2) The Company expects that substantially all of the outstanding awards at December 31, 2016 willvest in future periods.

(3) The weighted-average remaining contractual term of the outstanding RSUs is approximately1.1 years.

Common Stock Equivalents

Common stock equivalents (CSEs) are convertible into Common Stock and each CSE entitlesthe holder to one common share. Members of our Board of Directors receive directors’ fees payablein CSEs unless they opt to receive up to 50% of the fees in cash. Generally, the CSEs have no

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defined term and are converted into common shares when service as the director terminates unlessthe director has elected an accelerated release. The fair value of the CSEs is determined on the dateof grant based on the closing price of the Common Stock as reported by the New York StockExchange on that date. CSEs vest immediately and as a result are recorded as expense on the dateof grant.

The following table summarizes the changes in CSEs outstanding for the year endedDecember 31, 2016:

Common StockEquivalents

(CSEs)



Outstanding at December 31, 2015 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 105,664 $19.57Granted . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7,069 93.90Converted to common stock . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (5,395) 93.90

Outstanding at December 31, 2016 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 107,338 $20.74

Employee Stock Purchase Plan

The Company has an employee stock purchase plan (the “ESP Plan”) under which eligibleemployees are permitted to purchase Common Stock through payroll deductions, which may notexceed 10% of an employee’s compensation (or $23,750 in any calendar year), at a price equal to95% of the closing price of the Common Stock as reported by the New York Stock Exchange at theend of each offering period. At December 31, 2016, the Company had approximately 0.9 millionshares available for purchase under the ESP Plan. The ESP Plan is considered non-compensatoryunder FASB ASC Topic No. 718, and as a result the Company does not record stock-basedcompensation expense for employee share purchases. The Company received $9.3 million,$7.5 million, and $7.8 million in cash from share purchases under the ESP Plan during 2016, 2015,and 2014, respectively.

9—COMPUTATION OF EARNINGS PER SHARE

Basic earnings per share (“EPS”) is computed by dividing net income by the weighted averagenumber of shares of Common Stock outstanding for the period. Diluted EPS reflects the potentialdilution of securities that could share in earnings. When the impact of common share equivalents isanti-dilutive, they are excluded from the calculation.

The following table sets forth the reconciliation of the basic and diluted earnings per sharecomputations for the years ended December 31 (in thousands, except per share amounts):

2016 2015 2014

Numerator:Net income used for calculating basic and diluted earnings

per common share . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $193,582 $175,635 $183,766

Denominator:(1)

Weighted average number of common shares used in thecalculation of basic earnings per share . . . . . . . . . . . . . . . . . . . . . . 82,571 83,852 89,337

Common share equivalents associated with stock-basedcompensation plans. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,249 1,204 1,382

Shares used in the calculation of diluted earnings per share . . . 83,820 85,056 90,719

Earnings per share:Basic . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 2.34 $ 2.09 $ 2.06

Diluted . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 2.31 $ 2.06 $ 2.03

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(1) The Company repurchased 0.6 million, 6.2 million, and 5.9 million shares of its Common Stock in2016, 2015, and 2014, respectively.

The following table presents the number of common share equivalents that were not included inthe computation of diluted EPS in the table above because the effect would have been anti-dilutive.During periods with net income, these common share equivalents were anti-dilutive because theirexercise price was greater than the average market value of a share of Common Stock during theperiod.

2016 2015 2014

Anti-dilutive common share equivalents as of December 31(in millions): . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.2 0.3 0.3

Average market price per share of Common Stock during theyear . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $92.58 $86.02 $73.27

10—INCOME TAXES

The following is a summary of the components of the Company’s income before income taxesfor the years ended December 31 (in thousands):

2016 2015 2014

U.S.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $182,178 $165,848 $188,963Non-U.S.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 106,253 106,363 85,720

Income before income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $288,431 $272,211 $274,683

The expense for income taxes on the above income consists of the following components (inthousands):

2016 2015 2014

Current tax expense:U.S. federal. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $58,616 $48,801 $49,281State and local. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11,292 10,300 5,135Foreign . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27,536 23,225 16,653

Total current . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 97,444 82,326 71,069Deferred tax (benefit) expense:

U.S. federal. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (61) (884) (6,670)State and local. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (349) (702) 6,477Foreign . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (1,626) 1,550 779

Total deferred. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (2,036) (36) 586

Total current and deferred . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 95,408 82,290 71,655Benefit (expense) relating to interest rate swaps used to

increase (decrease) equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (1,113) 893 (1,442)Benefit from stock transactions with employees used to

increase equity. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 52 13,960 18,704Benefit (expense) relating to defined-benefit pension

adjustments used to increase (decrease) equity . . . . . . . . . . . . 502 (567) 2,000

Total tax expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $94,849 $96,576 $90,917

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Long-term deferred tax assets and liabilities are comprised of the following (in thousands):

2016 2015

December 31,

Accrued liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 62,439 $ 67,888Loss and credit carryforwards . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7,766 8,522Assets relating to equity compensation. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25,569 22,686Other assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6,652 6,712

Gross deferred tax assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 102,426 105,808Property, equipment, and leasehold improvements . . . . . . . . . . . . . . . . . . . . (11,796) (9,904)Intangible assets. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (43,548) (55,275)Prepaid expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (32,971) (28,535)Other liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (7,925) (7,244)

Gross deferred tax liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (96,240) (100,958)Valuation allowance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (1,431) (1,828)

Net deferred tax assets. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 4,755 $ 3,022

Net deferred tax assets and net deferred tax liabilities were $27.3 million and $22.5 million as ofDecember 31, 2016, respectively, and $26.4 million and $23.4 million as of December 31, 2015,respectively, and are reported in Other assets and Other liabilities in the Consolidated BalanceSheets. Management has concluded it is more likely than not that the reversal of deferred taxliabilities and results of future operations will generate sufficient taxable income to realize thedeferred tax assets, net of the valuation allowance at December 31, 2016.

The valuation allowances of $1.4 million as of December 31, 2016 and $1.8 million as of 2015,primarily relate to net operating losses which are not likely to be realized.

As of December 31, 2016, the Company had state and local tax net operating loss carryforwardsof $2.4 million, of which $0.1 million expire within one to five years and $2.3 million expire withinsix to fifteen years. The Company also had state tax credits of $1.9 million, a majority of which willexpire in five to six years years. As of December 31, 2016, the Company had non-U.S. net operatingloss carryforwards of $19.5 million, of which $0.9 million expire over the next 20 years and$18.6 million can be carried forward indefinitely. In addition, the Company also had foreign taxcredit carryforwards of $0.6 million, the majority of which will expire at the end of 2027. Theseamounts have been reduced for associated unrecognized tax benefits, consistent with FASB ASUNo. 2013-11.

The differences between the U.S. federal statutory income tax rate and the Company’s effectivetax rate on income before income taxes for the years ended December 31 follow:

2016 2015 2014

Statutory tax rate . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 35.0% 35.0% 35.0%State income taxes, net of federal benefit . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.4 3.3 3.1Effect of non-U.S. operations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (5.9) (6.5) (6.3)Record (release) reserve for tax contingencies . . . . . . . . . . . . . . . . . . . . . . 3.2 1.7 1.8Excess tax benefits from stock based compensation . . . . . . . . . . . . . . . . . (3.8) — —Nondeductible acquisition costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.6 0.8 0.1Record (release) valuation allowance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (0.2) 0.5 —Other items, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (0.4) 0.7 (0.6)

Effective tax rate . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 32.9% 35.5% 33.1%

As disclosed in Note 1—Business and Significant Accounting Policies, the Company adoptedFASB ASU No. 2016-09 in the third quarter of 2016. The effect of the adoption reduced theprovision for income taxes by $10.0 million for the twelve months ended December 31, 2016.

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For 2016 and 2015, state income taxes, net of federal tax benefit, include approximately$(0.3) million and $1.6 million, respectively, of benefit/(expense) relating to economic developmenttax credits associated with the renovation of the Company’s Stamford headquarters facility.

In July 2015, the United States Tax Court (the “Court”) issued an opinion relating to thetreatment of stock-based compensation expense in an inter-company cost-sharing arrangement. In itsopinion, the Court held that affiliated companies may exclude stock-based compensation expensefrom their cost-sharing arrangement. The Internal Revenue Service is appealing the decision.Because of uncertainty related to the final resolution of this litigation and the recognition ofpotential benefits to the Company, the Company has not recorded any financial statement benefitassociated with this decision. The Company will monitor developments related to this case and thepotential impact of those developments on the Company’s consolidated financial statements

As of December 31, 2016 and December 31, 2015, the Company had unrecognized tax benefitsof $37.1 million and $25.9 million, respectively. The increase is primarily attributable to positionstaken with respect to the exclusion of stock-based compensation expense from the Company’s cost-sharing arrangement and certain state refund claims. The unrecognized tax benefits as of December31, 2016 related primarily to the utilization of certain tax attributes, state income tax positions, theability to realize certain refund claims, and intercompany transactions. It is reasonably possible thatunrecognized tax benefits will be decreased by $1.7 million within the next 12 months due toanticipated closure of audits and the expiration of certain statutes of limitation.

Included in the balance of unrecognized tax benefits at December 31, 2016 are potentialbenefits of $33.4 million that if recognized would reduce the effective tax rate on income fromcontinuing operations. Also included in the balance of unrecognized tax benefits as of December 31,2016 are potential benefits of $3.7 million that, if recognized, would result in adjustments to othertax accounts, primarily deferred taxes.

The following is a reconciliation of the beginning and ending amount of unrecognized taxbenefits, excluding interest and penalties, for the years ended December 31 (in thousands):

2016 2015

Beginning balance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $25,911 $20,645Additions based on tax positions related to the current year . . . . 7,086 5,150Additions for tax positions of prior years. . . . . . . . . . . . . . . . . . . . . . . . 6,443 7,839Reductions for tax positions of prior years . . . . . . . . . . . . . . . . . . . . . . (496) (3,880)Reductions for expiration of statutes . . . . . . . . . . . . . . . . . . . . . . . . . . . . (1,006) (2,287)Settlements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (544) (960)Change in foreign currency exchange rates . . . . . . . . . . . . . . . . . . . . . . (295) (596)

Ending balance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $37,099 $25,911

The Company accrues interest and penalties related to unrecognized tax benefits in its incometax provision. As of December 31, 2016 and 2015, the Company had $4.3 million and $3.7 million,respectively, of accrued interest and penalties related to unrecognized tax benefits. These amountsare in addition to the unrecognized tax benefits disclosed above. The total amount of interest andpenalties recognized in the income tax provision for both the years ended December 31, 2016 andDecember 31, 2015 was $0.9 million.

The number of years with open statutes of limitation varies depending on the tax jurisdiction.The Company’s statutes are open with respect to the U.S. federal jurisdiction for 2013 and forward,and India for 2003 and forward. For other major taxing jurisdictions including the U.S. states, theUnited Kingdom, Canada, Japan, France, and Ireland, the Company’s statutes vary and are open asfar back as 2009.

Under U.S. GAAP rules, no provision for income taxes that may result from the remittance ofearnings held overseas is required if the Company has the ability and intent to indefinitely reinvestsuch funds overseas. Our current plans do not demonstrate a need to repatriate these undistributed

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earnings to fund our U.S. operations or otherwise satisfy the liquidity needs of our U.S operations.We intend to reinvest these earnings in our non-U.S. operations, except in instances in which therepatriation of these earnings would result in minimal additional tax. As a result, the Company hasnot recognized income tax expense that may result from the remittance of these earnings. Theaccumulated undistributed earnings of non-U.S. subsidiaries were approximately $340.0 million as ofDecember 31, 2016. The income tax that would be payable if such earnings were not indefinitelyinvested is estimated at $69.0 million.

11—DERIVATIVES AND HEDGING

The Company enters into a limited number of derivative contracts to mitigate the cash flow riskassociated with changes in interest rates on variable rate debt and changes in foreign exchange rateson forecasted foreign currency transactions. The Company accounts for its outstanding derivativecontracts in accordance with FASB ASC Topic No. 815, which requires all derivatives, includingderivatives designated as accounting hedges, to be recorded on the balance sheet at fair value. Thefollowing tables provide information regarding the Company’s outstanding derivatives contracts as ofand for the years ended December 31 (in thousands, except for number of outstanding contracts):

2016

Derivative Contract Type

Number ofOutstanding

Contracts

ContractNotionalAmount

Fair ValueAsset

(Liability)(3)Balance Sheet

Line Item

AOCIUnrealized(Loss), Net

Of Tax

Interest rate swaps(1) . . . . . 3 $700,000 $(2,349) Other liabilities $(1,409)Foreign currency

forwards(2) . . . . . . . . . . . . . . 84 86,946 (320) Other current assets —

Total . . . . . . . . . . . . . . . . . . . . . 87 $786,946 $(2,669) $(1,409)

2015

Derivative Contract Type

Number ofOutstanding

Contracts

ContractNotionalAmount

Fair ValueAsset

(Liability)(3)Balance Sheet

Line Item

AOCIUnrealized(Loss), Net

Of Tax

Interest rate swap(1) . . . . . . 3 $700,000 $(5,132) Other liabilities $(3,079)Foreign currency

forwards(2) . . . . . . . . . . . . . . 102 193,610 235 Other current assets —

Total . . . . . . . . . . . . . . . . . . . . . 105 $893,610 $(4,897) $(3,079)

(1) The swaps have been designated and are accounted for as cash flow hedges of the forecastedinterest payments on borrowings. As a result, changes in the fair value of the swaps are deferredand are recorded in AOCL/I, net of tax effect (see Note 5—Debt for additional information).

(2) The Company has foreign exchange transaction risk since it typically enters into transactions inthe normal course of business that are denominated in foreign currencies that differ from thelocal functional currency. The Company enters into short-term foreign currency forward exchangecontracts to mitigate the cash flow risk associated with changes in foreign currency rates onforecasted foreign currency transactions. These contracts are accounted for at fair value withrealized and unrealized gains and losses recognized in Other expense, net since the Companydoes not designate these contracts as hedges for accounting purposes. All of the outstandingcontracts at December 31, 2016 matured by the end of January 2017.

(3) See Note 12—Fair Value Disclosures for the determination of the fair value of these instruments.

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At December 31, 2016, the Company’s derivative counterparties were investment grade financialinstitutions. The Company did not have any collateral arrangements with its derivativecounterparties, and none of the derivative contracts contained credit-risk related contingent features.The following table provides information regarding amounts recognized in the ConsolidatedStatements of Operations for derivative contracts for the years ended December 31 (in millions):

Amount recorded in: 2016 2015 2014

Interest expense(1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $7.6 $8.5 $ 4.1Other expense (income), net(2). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.3 0.1 (0.5)

Total expense. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $7.9 $8.6 $ 3.6

(1) Consists of interest expense from interest rate swap contracts.

(2) Consists of realized and unrealized gains and losses on foreign currency forward contracts.

12—FAIR VALUE DISCLOSURES

The Company’s financial instruments include cash equivalents, fees receivable from customers,accounts payable, and accruals which are normally short-term in nature. The Company believes thecarrying amounts of these financial instruments reasonably approximates their fair value due to theirshort-term nature. The Company’s financial instruments also include its outstanding borrowingsunder the 2016 Credit Agreement, and at December 31, 2016, the Company had $700.0 million offloating rate debt outstanding under this arrangement, which is carried at amortized cost. TheCompany believes the carrying amount of the outstanding borrowings reasonably approximates fairvalue since the rate of interest on these variable rate borrowings reflect current market rates ofinterest for similar instruments with comparable maturities.

The Company enters into a limited number of derivatives transactions but does not enter intorepurchase agreements, securities lending transactions, or master netting arrangements. Receivablesor payables that result from derivatives transactions are recorded gross in the Company’sConsolidated Balance Sheets.

FASB ASC Topic No. 820 provides a framework for the measurement of fair value and avaluation hierarchy based upon the transparency of inputs used in the valuation of assets andliabilities. Classification within the hierarchy is based upon the lowest level of input that issignificant to the resulting fair value measurement. The valuation hierarchy contains three levels.Level 1 measurements consist of quoted prices in active markets for identical assets or liabilities.Level 2 measurements include significant other observable inputs such as quoted prices for similarassets or liabilities in active markets; identical assets or liabilities in inactive markets; observableinputs such as interest rates and yield curves; and other market-corroborated inputs. Level 3measurements include significant unobservable inputs, such as internally-created valuation models.The Company does not currently utilize Level 3 valuation inputs to remeasure any of its assets orliabilities. However, level 3 inputs may be used by the Company in its required annual impairmentreview of goodwill (information regarding the Company’s periodic assessment of goodwill is includedin Note 1—Business and Significant Accounting Policies). The Company does not typically transferassets or liabilities between different levels of the fair value hierarchy.

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The Company’s assets and liabilities that are remeasured to fair value are presented in thefollowing table (in thousands):

Description:

Fair ValueDecember 31,

2016

Fair ValueDecember 31,

2015

Assets:Values based on Level 1 inputs:

Deferred compensation plan assets(1) . . . . . . . . . . . . . . . . . . . . . . . . . . . $10,247 $ 8,671

Total Level 1 inputs. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $10,247 $ 8,671Values based on Level 2 inputs:

Deferred compensation plan assets(1) . . . . . . . . . . . . . . . . . . . . . . . . . . . $27,847 $25,474Foreign currency forward contracts(2) . . . . . . . . . . . . . . . . . . . . . . . . . . . 165 610

Total Level 2 inputs. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $28,012 $26,084

Total Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $38,259 $34,755

Liabilities:Values based on Level 2 inputs:

Deferred compensation plan liabilities(1) . . . . . . . . . . . . . . . . . . . . . . . . $43,075 $39,071Foreign currency forward contracts(2) . . . . . . . . . . . . . . . . . . . . . . . . . . . 485 375Interest rate swap contracts(3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,349 5,132

Total Level 2 inputs. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $45,909 $44,578

Total Liabilities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $45,909 $44,578

(1) The Company has a deferred compensation plan for the benefit of certain highly compensatedofficers, managers and other key employees (see Note 13—Employee Benefits). The assets consistof investments in money market and mutual funds, and company-owned life insurance contracts.

The money market funds consist of cash equivalents while the mutual fund investments consist ofpublicly-traded and quoted equity shares. The Company considers the fair value of these assets tobe based on Level 1 inputs, and these assets had a fair value of $10.2 million and $8.7 million asof December 31, 2016 and 2015, respectively. The carrying amount of the life insurance contractsequals their cash surrender value. Cash surrender value represents the estimated amount that theCompany would receive upon termination of the contract, which approximates fair value. TheCompany considers the life insurance contracts to be valued based on a Level 2 input, and theseassets had a fair value of $27.8 million and $25.5 million at December 31, 2016 and 2015,respectively. The related deferred compensation plan liabilities are recorded at fair value, or theestimated amount needed to settle the liability, which the Company considers to be a Level 2input.

(2) The Company enters into foreign currency forward exchange contracts to hedge the effects ofadverse fluctuations in foreign currency exchange rates (see Note 11—Derivatives and Hedging).Valuation of the foreign currency forward contracts is based on foreign currency exchange ratesin active markets, which the Company considers a Level 2 input.

(3) The Company has interest rate swap contracts which hedge the variability of interest payments onits borrowings (see Note 11—Derivatives and Hedging). The fair value of the swaps is based onmark-to-market valuations provided by a third-party broker. The valuations are based onobservable interest rates from recently executed market transactions and other observable marketdata, which the Company considers Level 2 inputs. The Company independently corroborates thereasonableness of the valuations prepared by the third-party broker through the use of anelectronic quotation service.

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13—EMPLOYEE BENEFITS

Defined contribution plan. The Company has a savings and investment plan (the “401k Plan”)covering substantially all U.S. employees. Company contributions are based upon the level ofemployee contributions, up to a maximum of 4% of the employee’s eligible salary, subject to anannual maximum. For 2016, the maximum match was $7,200. Amounts expensed in connection withthe 401k Plan totaled $22.9 million, $20.0 million, and $17.4 million, in 2016, 2015, and 2014,respectively.

Deferred compensation plan. The Company has a supplemental deferred compensation plan forthe benefit of certain highly compensated officers, managers and other key employees, which isstructured as a rabbi trust. The plan’s investment assets are recorded in Other assets on theConsolidated Balance Sheets at fair value. The value of these assets was $38.1 million and$34.1 million at December 31, 2016 and 2015, respectively (see Note 12—Fair Value Disclosures forfair value information). The corresponding deferred compensation liability, which was $43.1 millionand $39.1 million at December 31, 2016 and 2015, respectively, is carried at fair value, and isadjusted with a corresponding charge or credit to compensation expense to reflect the fair value ofthe amount owed to the employees and is classified in Other liabilities on the Consolidated BalanceSheets. Compensation expense recognized for the plan was $0.1 million, $0.5 million, and$0.6 million, in 2016, 2015, and 2014, respectively.

Defined benefit pension plans. The Company has defined-benefit pension plans in several of itsinternational locations. Benefits paid under these plans are based on years of service and level ofemployee compensation. The Company’s defined benefit pension plans are accounted for inaccordance with FASB ASC Topics No. 715 and 960. The following are the components of definedbenefit pension expense for the years ended December 31 (in thousands):

2016 2015 2014

Service cost. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $2,780 $2,620 $2,630Interest cost . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 850 790 1,190Expected return on plan assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (375) (345) (540)Recognition of actuarial loss. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 200 300 75Recognition of termination benefits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — 85 30

Total defined benefit pension plan expense(1) . . . . . . . . . . . . . . . . . . . . . . $3,455 $3,450 $3,385

(1) Pension expense is classified in SG&A in the Consolidated Statements of Operations.

The following are the key assumptions used in the computation of pension expense for theyears ended December 31:

2016 2015 2014

Weighted-average discount rate(1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.78% 2.19% 2.15%Average compensation increase . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.67% 2.66% 2.65%

(1) Discount rates are typically determined by utilizing the yields on long-term corporate orgovernment bonds in the relevant country with a duration consistent with the expected term ofthe underlying pension obligations.

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The following table provides information related to changes in the projected benefit obligationfor the years ended December 31 (in thousands):

2016 2015 2014

Projected benefit obligation at beginning of year. . . . . . . . . . . . . . . $35,870 $38,115 $34,585Service cost . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,780 2,620 2,630Interest cost . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 850 790 1,190Actuarial loss (gain) due to assumption changes and plan

experience . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,480 (1,190) 6,300Additions and contractual termination benefits. . . . . . . . . . . . . . . . . — 85 30Benefits paid(1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (1,640) (775) (1,350)Foreign currency impact. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (940) (3,775) (5,270)

Projected benefit obligation at end of year(2) . . . . . . . . . . . . . . . . . . . $38,400 $35,870 $38,115

(1) The Company projects the following benefit payments will be made in future years to planparticipants: $1.4 million in 2017; $2.0 million in 2018; $1.1 million in 2019, $1.5 million in 2020,$1.5 million in 2021; and $9.5 million in total in the five years thereafter.

(2) Measured as of December 31.

The following table provides information regarding the funded status of the plans and relatedamounts recorded in the Company’s Consolidated Balance Sheets as of December 31 (in thousands):

2016 2015 2014

Funded status of the plans:

Projected benefit obligation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 38,400 $ 35,870 $ 38,115Pension plan assets at fair value(1) . . . . . . . . . . . . . . . . . . . . . . . . . . . (14,465) (13,190) (13,220)

Funded status—shortfall(2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 23,935 $ 22,680 $ 24,895

Amounts recorded in the Consolidated Balance Sheets for the plans:

Other liabilities—accrued pension obligation(2). . . . . . . . . . . . . . . $ 23,935 $ 22,680 $ 24,895

Stockholders’ equity—deferred actuarial loss(3) . . . . . . . . . . . . . . $ (5,797) $ (4,832) $ (6,028)

(1) The pension plan assets are held by third-party trustees and are invested in a diversified portfolioof equities, high quality government and corporate bonds, and other investments. The assets areprimarily valued based on Level 1 and Level 2 inputs under the fair value hierarchy in FASBASC Topic No. 820, with the majority of the invested assets considered to be of low-to-mediuminvestment risk. The Company projects a future long-term rate of return on these plan assets of2.7%, which it believes is reasonable based on the composition of the assets and both current andprojected market conditions. For the year-ended December 31, 2016, the Company contributed$2.4 million to these plans, and benefits paid to participants were $1.6 million.

(2) The Funded status—shortfall represents the amount of the projected benefit obligation that theCompany has not funded with a third-party trustee. This amount is a liability of the Companyand is recorded in Other liabilities on the Company’s Consolidated Balance Sheets.

(3) The deferred actuarial loss as of December 31, 2016 is recorded in AOCL/I and will bereclassified out of AOCL/I and recognized as pension expense over approximately 13 years,subject to certain limitations set forth in FASB ASC Topic No. 715. The impact of thisamortization on pension expense in 2017 is projected to result in approximately $0.3 million ofadditional expense. The amortization of deferred actuarial losses from AOCL/I to pensionexpense in each of the three years ended December 31, 2016 was immaterial.

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GARTNER, INC.


The Company also maintains a reinsurance asset arrangement with a large internationalinsurance company whose purpose is to provide funding for benefit payments for one of the plans.The reinsurance asset is not a pension plan asset but is an asset of the Company. At December 31,2016 and 2015, the reinsurance asset was recorded at its cash surrender value of $7.8 million and$7.9 million, respectively, and is classified in Other Assets on the Company’s Consolidated BalanceSheets. The Company believes the cash surrender value approximates fair value and is equivalent toa Level 2 input under the FASB’s fair value framework in ASC Topic No. 820.

14—SEGMENT INFORMATION

The Company manages its business through three reportable segments: Research, Consultingand Events. Research primarily consists of subscription-based research products, access to researchinquiry, peer networking services, and membership programs. Consulting consists of consulting,measurement engagements, and strategic advisory services. Events consists of various symposia,conferences and exhibitions.

The Company evaluates reportable segment performance and allocates resources based on grosscontribution margin. Gross contribution, as presented in the table below, is defined as operatingincome excluding certain Cost of services and product development expenses, Selling, general andadministrative expenses, Depreciation, Amortization of intangibles, and Acquisition and integrationcharges. Certain bonus and fringe benefit costs included in consolidated Cost of services and productdevelopment are not allocated to segment expense. The accounting policies used by the reportablesegments are the same as those used by the Company. There are no intersegment revenues. TheCompany does not identify or allocate assets, including capital expenditures, by reportable segment.Accordingly, assets are not reported by segment because the information is not available by segmentand is not reviewed in the evaluation of segment performance or in making decisions in theallocation of resources.

The Company earns revenue from clients in many countries. Other than the United States,there is no individual country in which revenues from external clients represent 10% or more of theCompany’s consolidated revenues. Additionally, no single client accounted for 10% or more of totalrevenue and the loss of a single client, in management’s opinion, would not have a material adverseeffect on revenues.

The following tables present operating results for the Company’s reportable segments for theyears ended December 31 (in thousands):

Research Consulting Events Consolidated

2016Revenues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,829,721 $346,214 $268,605 $ 2,444,540Gross contribution . . . . . . . . . . . . . . . . . . . . . . . . 1,267,760 107,585 136,655 1,512,000Corporate and other expenses . . . . . . . . . . . . (1,206,859)

Operating income. . . . . . . . . . . . . . . . . . . . . . . . . $ 305,141


2015Revenues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,583,486 $327,735 $251,835 $ 2,163,056Gross contribution . . . . . . . . . . . . . . . . . . . . . . . . 1,096,827 107,193 130,527 1,334,547Corporate and other expenses . . . . . . . . . . . . (1,046,550)

Operating income. . . . . . . . . . . . . . . . . . . . . . . . . $ 287,997

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GARTNER, INC.



2014Revenues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,445,338 $348,396 $227,707 $2,021,441Gross contribution. . . . . . . . . . . . . . . . . . . . . . . . . 1,001,914 119,931 112,384 1,234,229Corporate and other expenses . . . . . . . . . . . . . (948,067)

Operating income . . . . . . . . . . . . . . . . . . . . . . . . . $ 286,162

The following table provides a reconciliation of total segment gross contribution to net incomefor the periods indicated (in thousands):

2016 2015 2014

Twelve months endedDecember 31,

Total segment gross contribution . . . . . . . . . . . . . . . . . . . . . . $1,512,000 $1,334,547 $1,234,229Costs and expenses:

Cost of services and product development—unallocated(1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13,108 10,567 10,721

Selling, general and administrative . . . . . . . . . . . . . . . . . . 1,089,184 962,677 876,067Depreciation and amortization . . . . . . . . . . . . . . . . . . . . . . 61,969 47,131 39,412Acquisition and integration charges . . . . . . . . . . . . . . . . . 42,598 26,175 21,867

Operating income. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 305,141 287,997 286,162Interest expense and other . . . . . . . . . . . . . . . . . . . . . . . . . . 16,710 15,786 11,479Provision for income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . 94,849 96,576 90,917

Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 193,582 $ 175,635 $ 183,766

(1) The unallocated amounts consist of certain bonus and related fringe costs recorded inConsolidated cost of services and product development expense that are not allocated to segmentexpense. The Company’s policy is to only allocate bonus and related fringe charges to segmentsfor up to 100% of the segment employee’s target bonus. Amounts above 100% are absorbed bycorporate.

The Company’s revenues are generated primarily through direct sales to clients by domestic andinternational sales forces and a network of independent international sales agents. Most of theCompany’s products and services are provided on an integrated worldwide basis, and because of thisintegrated delivery, it is not practical to precisely separate our revenues by geographic location.

Accordingly, the separation set forth in the table below is based upon internal allocations, whichinvolve certain management estimates and judgments. Revenues in the table are reported based onwhere the sale is fulfilled; “Other International” revenues are those attributable to all areas locatedoutside of the United States and Canada, as well as Europe, Middle East, and Africa.

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GARTNER, INC.


Summarized information by geographic location as of and for the years ended December 31follows (in thousands):

2016 2015 2014

Revenues:United States and Canada. . . . . . . . . . . . . . . . . . . . . . . . . . . $1,519,748 $1,347,676 $1,204,476Europe, Middle East and Africa . . . . . . . . . . . . . . . . . . . . 616,721 557,165 570,334Other International. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 308,071 258,215 246,631

Total revenues. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $2,444,540 $2,163,056 $2,021,441

Long-lived assets:(1)

United States and Canada. . . . . . . . . . . . . . . . . . . . . . . . . . . $ 143,921 $ 163,933 $ 142,963Europe, Middle East and Africa . . . . . . . . . . . . . . . . . . . . 42,326 31,130 34,093Other International. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24,630 16,050 13,282

Total long-lived assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 210,877 $ 211,113 $ 190,338

(1) Excludes goodwill and other intangible assets.

15—VALUATION AND QUALIFYING ACCOUNTS

The Company maintains an allowance for losses which is composed of a bad debt allowance anda revenue reserve. Provisions are charged against earnings either as an increase to expense or areduction in revenues.

The following table summarizes activity in the Company’s allowance for the years endedDecember 31 (in thousands):

Balance atBeginningof Year

AdditionsCharged to

Expense

AdditionsChargedAgainst

Revenues

Deductionsfrom

Reserve

Balanceat Endof Year

2016:Allowance for doubtful accounts and returns

and allowances. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $6,900 $4,750 $4,850 $(9,100) $7,400


and allowances. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $6,700 $3,480 $5,420 $(8,700) $6,900


and allowances. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $7,000 $2,950 $3,240 $(6,490) $6,700

16—SUBSEQUENT EVENTS

On January 5, 2017, Gartner and CEB Inc. (NYSE: CEB) (“CEB”), an industry leader inproviding best practice and talent management insights, announced that they had entered into adefinitive agreement whereby Gartner will acquire all of the outstanding shares of CEB in a cashand stock transaction valued at approximately $2.6 billion. Gartner will also assume (and refinance)approximately $0.9 billion in CEB debt. The transaction has been unanimously approved by theBoards of Directors of both companies. Closing of the transaction is subject to the approval of CEBshareholders and the satisfaction of customary closing conditions, including applicable regulatoryapprovals. On February 1, 2017, the Federal Trade Commission granted early termination of thewaiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended,

85

GARTNER, INC.


applicable to the proposed transaction. Closing of the transaction is expected to be completed in thefirst half of 2017.

In connection with the proposed acquisition, the Company entered into a commitment letter forthe purposes of financing the majority of the cash consideration payable and to refinance CEB’sindebtedness. The commitment letter provides for a total of $2.275 billion in additional financing,which includes a seven-year senior secured term loan B facility of up to $1.375 billion, a 364-daysenior unsecured bridge facility of up to $300.0 million, and a senior unsecured high-yield bridgefacility of up to $600.0 million. It is expected that on or prior to the closing of the CEB acquisition,senior unsecured notes will be issued and sold to pursuant to an offering pursuant to Rule 144A ora private placement in lieu of a portion of, or all of the drawings under, the high-yield bridgefacility. The Company expects that the proceeds from the additional financing described above,together with its balance sheet cash and available borrowing capacity under its revolving creditfacility, will be sufficient to pay the aggregate cash consideration and refinance CEB’s indebtedness,as well as pay for certain fees and expenses incurred in connection with the acquisition.

On February 6, 2017, the Company filed a Registration Statement on Form S-4 with the SECpertaining to the shares of Gartner common stock that will be issued in connection with theproposed transaction and a prospectus relating to the special meeting of the CEB stockholders thatwill be called for purposes of voting on the proposed transaction.

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GARTNER, INC.


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has causedthis Report on Form 10-K to be signed on its behalf by the undersigned, duly authorized, inStamford, Connecticut, on February 22, 2017.

Gartner, Inc.

Date: February 22, 2017 By: /s/ EUGENE A. HALL


POWER OF ATTORNEY

Each person whose signature appears below appoints Eugene A. Hall and Craig W. Safian andeach of them, acting individually, as his or her attorney-in-fact, each with full power of substitution,for him or her in all capacities, to sign all amendments to this Report on Form 10-K, and to file thesame, with appropriate exhibits and other related documents, with the Securities and ExchangeCommission. Each of the undersigned ratifies and confirms his or her signatures as they may besigned by his or her attorney-in-fact to any amendments to this Report. Pursuant to therequirements of the Securities Exchange Act of 1934, this Report has been signed by the followingpersons on behalf of the Registrant and in the capacities and on the dates indicated:

Name Title Date

/s/ EUGENE A. HALL

(Eugene A. Hall)

Director and Chief Executive Officer (PrincipalExecutive Officer)

February 22, 2017

/s/ CRAIG W. SAFIAN

(Craig W. Safian)

Senior Vice President and Chief FinancialOfficer (Principal Financial and AccountingOfficer)

February 22, 2017

/s/ MICHAEL J. BINGLE

(Michael J. Bingle)

Director February 22, 2017

/s/ PETER E. BISSON

(Peter E. Bisson)


/s/ RICHARD J. BRESSLER

(Richard J. Bressler)


/s/ RAUL E. CESAN

(Raul E. Cesan)


/s/ KAREN E. DYKSTRA

(Karen E. Dykstra)


/s/ ANNE SUTHERLAND FUCHS

(Anne Sutherland Fuchs)


/s/ WILLIAM O. GRABE

(William O. Grabe)


/s/ STEPHEN G. PAGLIUCA

(Stephen G. Pagliuca)


/s/ JAMES C. SMITH

(James C. Smith)


87

EXHIBIT 21.1

SUBSIDIARIES OF THE REGISTRANT

Subsidiaries State/Country

� Burton Group, Inc. Utah, USA

� Capterra, Inc. Delaware, USA

� Computer Financial Consultants, Inc. Delaware, USA

� Computer Financial Consultants, Limited United Kingdom

� Dataquest, Inc. California, USA

� Software Advice, Inc. Delaware, USA

� G.G. Properties, Ltd. Bermuda

� Gartner Advisory (Singapore) PTE LTD. Singapore

� Gartner Australasia PTY Limited (including branch in New Zealand) Australia

� Gartner Austria GmbH Austria

� Gartner Belgium BVBA (including branch in Luxembourg) Belgium

� Gartner Canada Co. Nova Scotia, Canada

� Gartner Consulting (Beijing) Co., LTD. China

� Gartner Denmark ApS Denmark

� Gartner Deutschland, GmbH Germany

� Gartner do Brasil Servicos de Pesquisas LTDA. Brazil

� Gartner Espana, S.L. (including branch in Portugal) Spain

� Gartner Europe Holdings, B.V. The Netherlands

� Gartner France S.A.R.L. France

� Gartner Finland Oy Finland

� Gartner Gulf FZ, LLC (including branch in Abu Dhabi) United Arab Emirates

� Gartner Group Taiwan Ltd. Taiwan

� Gartner Group (Thailand) Ltd. Thailand

� Gartner Holdings Ireland UC Bermuda

� Gartner Holdings, LLC Delaware, USA

� Gartner Hong Kong, Limited Hong Kong

� Gartner India Research & Advisory Services Private Ltd. India

� Gartner Investments I, LLC Delaware, USA

� Gartner Investments II, LLC Delaware, USA

� Gartner Ireland Limited Ireland

� Gartner Italia, S.r.l. Italy

� Gartner Israel Advisory Ltd. Israel

� Gartner Japan Ltd. Japan

� Gartner Mexico S. de R. L. de C.V. Mexico

� Gartner Nederland B.V. The Netherlands

� Gartner Norge A.S. Norway

� Gartner Poland SP z.o.o Poland

� Gartner Research & Advisory Korea Co., Ltd. Korea

� Gartner Research & Advisory (Malaysia) Ltd. Malaysia

� Gartner RUS LLC Russia

� Gartner Saudi Arabia Ltd Saudi Arabia

� Gartner South Africa (Pty) Ltd South Africa

� Gartner Sverige AB Sweden

� Gartner Switzerland GmbH Switzerland

Subsidiaries State/Country

� Gartner Turkey Teknoloji Arastirma ve Danismanlik HizmetleriLimited Sirketi

Turkey

� Gartner U.K. Limited United Kingdom

� The Research Board, Inc. Delaware, USA

� 1422722 Ontario, Inc. Canada

� META Group GmbH Germany

� META Saudi Arabia Saudi Arabia

� Ideas International Pty Limited Australia

� Nubera eBusiness S.L. Spain

� Machina Research Limited United Kingdom

� Machina Research (Hong Kong) Limited Hong Kong

� Machina Research USA, Inc. Delaware, USA

� Newco 5CL Limited United Kingdom

� Rapture World Limited United Kingdom

� SCM World US, Inc. Delaware, USA

� SircleIT, Inc. Delaware, USA

� Senexx Israel Ltd Israel

EXHIBIT 23.1

CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM


Gartner, Inc.:

We consent to the incorporation by reference in the registration statements (No. 333-104753,No. 333-127349, No. 333-160924, No. 333-176058, No. 333-200585) on Form S-8 of Gartner, Inc. ofour reports dated February 22, 2017, with respect to the consolidated balance sheets of Gartner, Inc.and subsidiaries as of December 31, 2016 and 2015, and the related consolidated statements ofoperations, comprehensive income, stockholders’ equity (deficit), and cash flows for each of theyears in the three-year period ended December 31, 2016, and the effectiveness of internal controlover financial reporting as of December 31, 2016, which reports appear in the December 31, 2016annual report on Form 10-K of Gartner, Inc.

/s/ KPMG LLP

New York, New York

February 22, 2017

EXHIBIT 31.1

CERTIFICATION

I, Eugene A. Hall, certify that:

(1) I have reviewed this Annual Report on Form 10-K of Gartner, Inc.;

(2) Based on my knowledge, this report does not contain any untrue statement of a materialfact or omit to state a material fact necessary to make the statements made, in light of thecircumstances under which such statements were made, not misleading with respect to the periodcovered by this report;

(3) Based on my knowledge, the financial statements, and other financial information includedin this report, fairly present in all material respects the financial condition, results of operations andcash flows of the registrant as of, and for, the periods presented in this report;

(4) The registrant’s other certifying officer and I are responsible for establishing and maintainingdisclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) andinternal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)for the registrant and we have:

a) Designed such disclosure controls and procedures, or caused such disclosure controls andprocedures to be designed under our supervision, to ensure that material information relating tothe registrant, including its consolidated subsidiaries, is made known to us by others withinthose entities, particularly during the period in which this report is being prepared;

b) Designed such internal control over financial reporting, or caused such internal controlover financial reporting to be designed under our supervision, to provide reasonable assuranceregarding the reliability of financial reporting and the preparation of financial statements forexternal purposes in accordance with generally accepted accounting principles;

c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures andpresented in this report our conclusions about the effectiveness of the disclosure controls andprocedures, as of the end of the period covered by this report based on such evaluation; and

d) Disclosed in this report any change in the registrant’s internal control over financialreporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourthfiscal quarter in the case of an annual report) that has materially affected, or is reasonablylikely to materially affect, the registrant’s internal control over financial reporting; and

(5) The registrant’s other certifying officer and I have disclosed, based on our most recentevaluation of internal control over financial reporting, to the registrant’s auditors and the auditcommittee of the registrant’s board of directors (or persons performing the equivalent functions):

a) All significant deficiencies and material weaknesses in the design or operation of internalcontrol over financial reporting which are reasonably likely to adversely affect the registrant’sability to record, process, summarize and report financial information; and

b) Any fraud, whether or not material, that involves management or other employees whohave a significant role in the registrant’s internal control over financial reporting.

/s/ EUGENE A. HALL


Date: February 22, 2017

EXHIBIT 31.2

CERTIFICATION

I, Craig W. Safian, certify that:

(1) I have reviewed this Annual Report on Form 10-K of Gartner, Inc.;

(2) Based on my knowledge, this report does not contain any untrue statement of a materialfact or omit to state a material fact necessary to make the statements made, in light of thecircumstances under which such statements were made, not misleading with respect to the periodcovered by this report;

(3) Based on my knowledge, the financial statements, and other financial information includedin this report, fairly present in all material respects the financial condition, results of operations andcash flows of the registrant as of, and for, the periods presented in this report;

(4) The registrant’s other certifying officer and I are responsible for establishing and maintainingdisclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) andinternal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)for the registrant and we have:

a) Designed such disclosure controls and procedures, or caused such disclosure controls andprocedures to be designed under our supervision, to ensure that material information relating tothe registrant, including its consolidated subsidiaries, is made known to us by others withinthose entities, particularly during the period in which this report is being prepared;

b) Designed such internal control over financial reporting, or caused such internal controlover financial reporting to be designed under our supervision, to provide reasonable assuranceregarding the reliability of financial reporting and the preparation of financial statements forexternal purposes in accordance with generally accepted accounting principles;

c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures andpresented in this report our conclusions about the effectiveness of the disclosure controls andprocedures, as of the end of the period covered by this report based on such evaluation; and

d) Disclosed in this report any change in the registrant’s internal control over financialreporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourthfiscal quarter in the case of an annual report) that has materially affected, or is reasonablylikely to materially affect, the registrant’s internal control over financial reporting; and

(5) The registrant’s other certifying officer and I have disclosed, based on our most recentevaluation of internal control over financial reporting, to the registrant’s auditors and the auditcommittee of the registrant’s board of directors (or persons performing the equivalent functions):

a) All significant deficiencies and material weaknesses in the design or operation of internalcontrol over financial reporting which are reasonably likely to adversely affect the registrant’sability to record, process, summarize and report financial information; and

b) Any fraud, whether or not material, that involves management or other employees whohave a significant role in the registrant’s internal control over financial reporting.

/s/ CRAIG W. SAFIAN

Craig W. SafianChief Financial Officer


EXHIBIT 32

CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350, AS ADOPTED PURSUANT TOSECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Annual Report of Gartner, Inc. (the “Company”) on Form 10-K for theyear ended December 31, 2016, as filed with the Securities and Exchange Commission on the datehereof (the “Report”), Eugene A. Hall Chief Executive Officer of the Company, and Craig W.Safian, Chief Financial Officer of the Company, each hereby certifies, pursuant to 18 U.S.C. § 1350,as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that, to my knowledge:

(1) The Report fully complies with the requirements of Section 13(a) or 15(d) of theSecurities Exchange Act of 1934; and

(2) The information contained in the Report fairly presents, in all material respects, thefinancial condition and results of operations of the Company.

/s/ EUGENE A. HALL

Name: Eugene A. HallTitle: Chief Executive Officer


/s/ CRAIG W. SAFIAN

Name: Craig W. SafianTitle: Chief Financial Officer


A signed original of this written statement required by Section 906 has been provided toGartner, Inc. and will be retained by Gartner, Inc. and furnished to the Securities and ExchangeCommission or its staff upon request.

Dear Shareholders:

Technology is impacting every enterprise at an

increasingly rapid pace. Whether seeking new sources

of growth, business model transformation or operational

efficiencies, technology is part of the solution for

virtually every enterprise.

Gartner is at the heart of technology. Every

company is becoming a technology company,

creating unparalleled opportunity for Gartner. Our

clients depend on us for the insight and advice they

need to successfully leverage technology within the

digital economy.

Five Elements That Drive Our

Sustained Growth

• At the core of Gartner is our strong value proposition, delivering unique and competitively

differentiated insights on clients’ mission-critical

priorities. We provide high client value at a very

low cost.

• We have a vast market opportunity, driven by

the pervasive criticality of technology-driven change.

We have increased our addressable market over

time through strategic acquisitions, organic growth

and product development.

• Our winning strategy for growth is to deliver

market-leading insights through innovative,

differentiated offerings while operating at scale.

We are growing our organizational capabilities to

capture our vast market opportunity, while ensuring

we remain focused on continuous improvement

and innovation in everything we do.

• We have an extraordinary business model, based on recurring revenue and high retention rates.

Our clients are highly diversified across geography,

industry and client size. We have high incremental

margins and generate free cash flow substantially in

excess of our net income.

• We are exceptional at operational execution. Gartner is a performance-driven organization.

Our tenured, stable leadership team has breadth

and depth, which has led to a sustained track record

of double-digit performance in our key metrics.

In addition, our strong cash flow generation and

strategic balance sheet management have delivered

consistent shareholder value.

Gartner Drove Another Year of Double-Digit

Growth in 2016

The macroeconomic environment remained challenging

in 2016. Many major economic countries and regions

around the world experienced slower economic growth

or declines and virtually all currencies continued to

weaken relative to the U.S. dollar.

Despite this backdrop, we delivered another year of

double-digit growth in 2016. For the full year 2016, we

generated more than $2.4 billion of revenue and $457

million of normalized EBITDA, representing year-over-

year growth of 14% and 10% respectively, excluding the

impact of foreign exchange. Diluted earnings per share

excluding acquisition adjustments was $2.96 in 2016, a

year-over-year increase of approximately 25% excluding

the impact of foreign exchange and free cash flow

increased to $347 million.

In fact, we’ve delivered 7 years of double-digit growth,

reflecting the tremendous value we deliver to our clients

whether they are thriving or are in financial distress.

We’re Not Standing Still

We continue to make investments that will augment

our current offerings or expand our market opportunity.

In 2016, we added more depth to our global analyst

community with the acquisition of U.K.-based Machina

Research. We grew our salesforce, closing 2016 with

more than 2,400 highly talented associates tasked

with capturing our vast market opportunity.



Michael J. BingleManaging Partner

Managing Director

Silver Lake

Peter E. BissonFormer Director

McKinsey & Company

Richard J. BresslerPresident and Chief

Financial Officer

iHeart Media, Inc.

Chief Financial Officer

Clear Channel Outdoor

Holdings, Inc.

Raul E. CesanFounder and

Managing Partner

Commercial Worldwide, LLC

Former President and COO

Schering-Plough Corporation

Karen E. DykstraFormer Chief Financial and

Administrative Officer

AOL

Former Chief

Financial Officer

ADP

Anne Sutherland FuchsConsultant

Former Chair, Commission

on Women’s Issues for

New York City

William O. GrabeAdvisory Director

General Atlantic


Gartner

Stephen G. PagliucaManaging Director

Bain Capital Partners

Managing Partner

Boston Celtics

James C. SmithChairman of the Board

Gartner

Retired Chairman and CEO

First Health Group Corp.

Board of Directors


p p

GARTNER HEADQUARTERS

Corporate Headquarters56 Top Gallant Road

Stamford, CT 06902-7700

USA

+1 203 964 0096

Europe HeadquartersTamesis

The Glanty

Egham

Surrey, TW20 9AW

UNITED KINGDOM

+44 1784 431611

Asia/Pacific HeadquartersGartner Australasia Pty. Ltd.

Level 18

40 Mount Street

North Sydney 2060

New South Wales

AUSTRALIA

+61 2 9459 4600

Japan HeadquartersGartner Japan, Ltd.

Atago Green Hills MORI Tower, 5F

2-5-1 Atago, Minato-ku

Tokyo 105-6205,

JAPAN

+81 3 6430 1800

Latin America Headquarters Gartner do Brasil

4300 Faria Lima Avenue

São Paulo 04538-132

BRAZIL

+ 55 11 3043 7544

© 2017 Gartner, Inc. and/or its affiliates. All rights reserved. Gartner and ITxpo are registered trademarks of Gartner, Inc. or its affiliates.

For more information, email [email protected] or visit gartner.com. Produced by Marketing Communications COCORPANNLRPRT032917

Gartn

er 2016

An

nu

al Rep

ort

2016 Annual Report


Europe Headquarters Asia/Paciﬁc Headquarters Japan ... · Gartner 2016 Annual Report 2016 Annual...

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Transcript of Europe Headquarters Asia/Paciﬁc Headquarters Japan ... · Gartner 2016 Annual Report 2016 Annual...