ServiceNow $925K 401(k) Plan ERISA Class Action Settlement

Individuals who participated in the ServiceNow Inc. 401(k) plan and invested in American Century target date funds at any time from Feb. 21, 2018, through Oct. 29, 2025, may be eligible to claim a cash payment from a class action settlement.

ServiceNow Inc. agreed to pay $925,000 to resolve a class action lawsuit alleging violations of the Employee Retirement Income Security Act of 1974 related to the management of its 401(k) plan and the selection of certain investment options.

Who are the class members?

The class includes individuals who meet all of the following criteria:

• They participated in the ServiceNow Inc. 401(k) plan at any time from Feb. 21, 2018, through Oct. 29, 2025.
• They invested in any of the American Century target date funds the plan offered during that period.

This iIncludes beneficiaries of deceased participants who invested in the funds during the class period and alternate payees subject to a qualified domestic relations order who otherwise meet the above criteria.

There are two main categories of class members:

• Current participants: Individuals who have a positive balance in their plan account as of Oct. 29, 2025. These participants will receive their settlement payment as a direct deposit into their plan account.
• Former participants: Individuals who had an active plan account on or after Feb. 21, 2018, but do not have a plan account with a positive balance as of Oct. 29, 2025. These individuals will receive their payment by check mailed to their last known address.

How much can class members get?

The gross settlement fund is $925,000. The settlement administrator will distribute this amount to eligible class members after deductions for attorneys’ fees, administrative expenses and service awards to the class representatives.

Each class member's payment is based on:

• The number of eligible class members
• The amount each person invested in the relevant funds during the class period

Former participants will receive a minimum payment of $10.

No action needed to receive payment

Class members do not need to submit a claim form to receive their share of the settlement. The settlement administrator will use plan records to determine eligibility and calculate payment amounts.

• Current participants: Payment deposited into their plan account
• Former participants: Payment sent by check to their last known address

Former participants whose mailing address has changed should contact the settlement administrator to update their information to ensure they receive payment.

Settlement administrator's contact information: ServiceNow ERISA Administrator, P.O. Box 2007, Chanhassen, MN 55317-2007, ServiceNowERISA@noticeadministrator.com, 866-322-0107

$925,000 settlement fund breakdown

The $925,000 settlement fund covers:

• Administrative expenses: To be determined
• Attorneys' fees: Up to $231,250
• Attorneys' costs: Up to $120,000
• Service awards to class representatives: Up to $5,000 each for two representatives ($10,000 total)
• Payments to eligible class members: Remainder of the fund

Important dates

• Final approval (fairness) hearing: Feb. 24, 2026

When is the ServiceNow ERISA settlement payout date?

The settlement administrator will distribute payments no later than 60 days after the court grants final approval to the settlement.

Why did this class action settlement happen?

The class action lawsuit alleged that ServiceNow Inc. and its board of directors failed to properly manage their 401(k) plan by selecting and retaining certain investment options, specifically the American Century target date funds, in violation of ERISA.

The defendants deny any wrongdoing or liability, but both sides agreed to settle to avoid the cost and risk of further litigation.

Sources

1. Class notice
2. Settlement agreement
3. Settlement FAQ
4. Important dates