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| | | | By Order of the Board of Directors, | |
| | | |
|
|
| | | | David Hisey | |
| April 14, 2022 | | |
Secretary
|
|
| General Information | | | | | | | |
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| | | | | 53 | | |
Beneficial Owner
|
| |
Class
|
| |
Amount and
Nature of Beneficial Ownership (1) |
| |
Percent of
Class |
| ||||||
5% Stockholders | | | | | | | | | | | | | | | | |
BlackRock, Inc.
|
| |
Common Stock
|
| | | | 3,877,296 (2) | | | | | | 14.28 | | |
55 East 52
nd
Street
|
| | | | ||||||||||||
New York, NY 10055
|
| | | | ||||||||||||
Victory Capital Management, Inc.
|
| |
Common Stock
|
| | | | 2,072,394 (3) | | | | | | 7.63 | | |
4900 Tiedemann Rd., 4
th
Floor
|
| | | | ||||||||||||
Brooklyn, OH 44144
|
| | | | ||||||||||||
The Vanguard Group
|
| |
Common Stock
|
| | | | 1,918,379 (4) | | | | | | 7.06 | | |
100 Vanguard Blvd.
|
| | | | ||||||||||||
Malvern, PA 19355
|
| | | | ||||||||||||
Allspring Global Investments Holdings, LLC
|
| | | | ||||||||||||
525 Market Street
|
| | | | ||||||||||||
San Francisco, CA 94105
|
| |
Common Stock
|
| | | | 1,618,331 (5) | | | | | | 5.96 | | |
Named Executive Officers, Directors and Nominees
|
| | | | | | | | | | | | | | | |
Frederick H. Eppinger
†
◦
|
| |
Common Stock
|
| | | | 90,262 (6) | | | | | | * | | |
David C. Hisey
|
| |
Common Stock
|
| | | | 51,542 (7) | | | | | | * | | |
John L. Killea
|
| |
Common Stock
|
| | | | 50,936 (8) | | | | | | * | | |
Steven M. Lessack
|
| |
Common Stock
|
| | | | 7,116 (9) | | | | | | * | | |
Tara Smith
|
| |
Common Stock
|
| | | | 5,684 (10) | | | | | | * | | |
Matthew Morris
†
◦
|
| |
Common Stock
|
| | | | 85,421 (11) | | | | | | * | | |
Thomas G. Apel
†
◦
|
| |
Common Stock
|
| | | | 35,866 (12) | | | | | | * | | |
C. Allen Bradley, Jr.
†
◦
|
| |
Common Stock
|
| | | | 11,718 (12) | | | | | | * | | |
William S. Corey, Jr.
†
◦
|
| |
Common Stock
|
| | | | 3,117 (13) | | | | | | * | | |
Deborah J. Matz
†
◦
|
| |
Common Stock
|
| | | | 3,253 (14) | | | | | | * | | |
Robert L. Clarke
†
◦
|
| |
Common Stock
|
| | | | 53,001 (15) | | | | | | * | | |
Karen R. Pallotta
†
◦
|
| |
Common Stock
|
| | | | 3,880 (12) | | | | | | * | | |
Manuel Sánchez
†
◦
|
| |
Common Stock
|
| | | | 5,280 (12) | | | | | | * | | |
All executive officers and directors as a group (13 persons)
|
| |
Common Stock
|
| | | | 407,076 | | | | |
|
*
|
| |
Nominee
|
| |
Age
|
| |
Position
|
| |
Since
|
| ||||||
Thomas G. Apel
|
| | | | 60 | | | | Director and Chairman | | | | | 2009 | | |
C. Allen Bradley, Jr.
|
| | | | 70 | | | | Director | | | | | 2016 | | |
Robert L. Clarke
|
| | | | 79 | | | | Director | | | | | 2004 | | |
William S. Corey, Jr.
|
| | | | 62 | | | | Director | | | | | 2020 | | |
Frederick H. Eppinger, Jr.
|
| | | | 63 | | | |
Director and Chief Executive Officer
|
| | | | 2016 | | |
Deborah J. Matz
|
| | | | 71 | | | | Director | | | | | 2020 | | |
Matthew W. Morris
|
| | | | 50 | | | | Director | | | | | 2016 | | |
Karen R. Pallotta
|
| | | | 58 | | | | Director | | | | | 2019 | | |
Manuel Sánchez
|
| | | | 56 | | | | Director | | | | | 2019 | | |
| Frederick H. Eppinger | | | Chief Executive Officer | |
| David C. Hisey | | | Chief Financial Officer, Secretary and Treasurer | |
| John L. Killea | | |
Chief Legal Officer and Chief Compliance Officer
|
|
| Tara S. Smith | | | Group President | |
| Steven M. Lessack | | | Group President | |
| Emily A. Kain | | | Chief Human Resource Officer | |
| Brad A. Rable | | | Chief Information Officer | |
NEO
|
| |
Title
|
|
Frederick H. Eppinger | | | Chief Executive Officer | |
David C. Hisey | | | Chief Financial Officer, Secretary and Treasurer | |
Steven M. Lessack | | | Group President | |
John L. Killea | | | Chief Legal Officer and Chief Compliance Officer | |
Tara S. Smith | | | Group President | |
|
What We Do
|
| |
What We Do Not Do
|
|
|
✓
Performance-based, “at risk” short-term and long-term compensation
|
| |
×
No liberal share recycling under our long-term incentive plan
|
|
|
✓
Heavy emphasis on variable pay
|
| |
×
No excise tax gross-ups on a change in control
|
|
|
✓
Equity ownership guidelines
|
| |
×
No repricing of underwater stock options
|
|
|
✓
Double-trigger vesting of cash severance payments and equity on a change in control
|
| |
×
No hedging transactions or short sales by executive officers or directors permitted
|
|
|
✓
Independent compensation consultant
|
| |
×
No significant perquisites
|
|
|
✓
Regular review of share utilization
|
| | | |
|
✓
Claw back policy to recover wrongfully earned performance-based compensation associated with material financial misstatement
|
| | | |
Element
|
| |
Purpose
|
|
Base Salary | | |
Provides competitive fixed compensation and is established after considering external market rates, executive officer performance, company performance, experience, and desired pay mix.
|
|
Annual Short-Term Incentive | | |
Designed to motivate our NEOs and other executive officers to achieve key annual objective measures of financial performance. Consistent with our philosophy, STIP awards are linked to metrics that our NEOs and other executive officers can directly influence and that we believe correlate strongly to positive stockholder returns.
|
|
Long-Term Incentives | | |
LTIP grants further incentivize our NEOs and other executive officers to drive stockholder value and foster a sense of company ownership. Our LTIP’s equity-based awards and multi-year vesting schedule align NEO and other executive officer interests with those of our stockholders through the common goal of sustained stock price appreciation. Without positive stock price returns, the realized value of LTIP grants will be less than the target value at the time of grant. Alignment is also reinforced through share ownership guidelines.
|
|
|
|
| |
|
|
| American Equity Investment Life Holding Company | | | MGIC Investment Corporation | |
| American National Insurance Company | | | Old Republic International Corporation | |
| Argo Group International Holdings, Ltd. | | | ProAssurance Corporation | |
| CNO Financial Group, Inc. | | | Radian Group Inc. | |
| Employers Holdings, Inc. | | | RLI Corp. | |
| Enstar Group Limited | | | Safety Insurance Group, Inc. | |
| First American Financial Corporation | | | Selective Insurance Group, Inc. | |
| Hilltop Holdings Inc. | | | State Auto Financial Corporation | |
| Horace Mann Educators Corporation | | | The Hanover Insurance Group, Inc. | |
| James River Group Holdings, Ltd. | | | United Fire Group, Inc. | |
| Mercury General Corporation | | | | |
NEO
|
| |
2020 Base Salary
|
| |
2021 Base Salary
|
| |
% Change
|
| |||||||||
Frederick H. Eppinger
|
| | | $ | 850,000 | | | | | $ | 879,750 | | | | | | 3.5 % | | |
David C. Hisey
|
| | | $ | 475,000 | | | | | $ | 493,750 | | | | | | 3.9 % | | |
Steven M. Lessack
|
| | | $ | 565,000 | | | | | $ | 565,000 | | | | | | 0.0 % | | |
John L. Killea
|
| | | $ | 475,000 | | | | | $ | 497,000 | | | | | | 4.6 % | | |
Tara S. Smith
|
| | | $ | 305,000 | | | | | $ | 305,000 | | | | | | 0.0 % | | |
NEO
|
| |
Base Salary
|
| |
Short-Term
Incentive Target (as a % of Base Salary) |
| |
Short-Term
Incentive Target ($) |
| |||||||||
Frederick H. Eppinger
|
| | | $ | 879,750 | | | | | | 125 % | | | | | $ | 1,099,688 | | |
David C. Hisey
|
| | | $ | 493,750 | | | | | | 100 % | | | | | $ | 493,750 | | |
Steven M. Lessack
|
| | | $ | 565,000 | | | | | | 100 % | | | | | $ | 565,000 | | |
John L. Killea
|
| | | $ | 497,000 | | | | | | 100 % | | | | | $ | 497,000 | | |
Tara S. Smith
|
| | | $ | 305,000 | | | | | | 100 % | | | | | $ | 305,000 | | |
Goal
|
| |
Description
|
|
Pre-Tax Margin | | |
Modified Pre-Tax Margin is on an adjusted basis and calculated by dividing modified pre-tax profits by modified gross revenues. Modifications remove the effect of investment and other gains (losses), as well as the effects of non-recurring, unusual and/or extraordinary items as determined by the Committee.
|
|
Net Revenue | | |
Modified Net Revenue is on an adjusted basis and calculated by subtracting “Amounts retained by independent agencies” from modified gross revenue. Modifications remove the effect of investment and other gains (losses), as well as the effects of non-recurring, unusual and/or extraordinary items as determined by the Committee.
|
|
| | | | | |
Performance Range
|
| |
2021 Result
|
| |
Actual
Payout as a % of Target |
| ||||||
Goal Weight
|
| |
Goal
|
| |
Minimum
|
| |
Target
|
| |
Maximum
|
| ||||||
80%
|
| |
Corporate Pre-Tax Margin
|
| |
6.0%
|
| |
8.3% - 8.7%
|
| |
11.1%
|
| |
12.5%
|
| |
200.0%
|
|
20%
|
| | Corporate Net Revenue | | |
$1,298.7M
|
| |
$1,411.7M
|
| |
$1,524.6M
|
| |
$1,981.0M
|
| |
200.0%
|
|
| | | | | |
Performance Range
|
| |
2021 Result
|
| |
Actual
Payout as a % of Target |
| ||||||
Goal Weight
|
| |
Goal
|
| |
Minimum
|
| |
Target
|
| |
Maximum
|
| ||||||
20%
|
| | Corporate Pre-Tax Margin | | |
6.0%
|
| |
8.3% - 8.7%
|
| |
11.1%
|
| |
12.5%
|
| |
200.0%
|
|
5%
|
| | Corporate Net Revenue | | |
$1,298.7M
|
| |
$1,411.7M
|
| |
$1,524.6M
|
| |
$1,981.0M
|
| |
200.0%
|
|
60%
|
| | Contribution Margin (BU) (1) | | |
23.4%
|
| |
27.6%
|
| |
31.7%
|
| |
33.2%
|
| |
200.0%
|
|
15%
|
| |
Net Operating Revenue (BU)
(1)
|
| |
$875.7M
|
| |
$951.8M
|
| |
$1,028.0M
|
| |
$1,296.8M
|
| |
200.0%
|
|
| | | | | |
Performance Range
|
| |
2021 Result
|
| |
Actual Payout
as a % of Target |
| ||||||
Goal Weight
|
| |
Goal
|
| |
Minimum
|
| |
Target
|
| |
Maximum
|
| ||||||
40%
|
| | Corporate Pre-Tax Margin | | |
6.0%
|
| |
8.3% - 8.7%
|
| |
11.1%
|
| |
12.5%
|
| |
200.0%
|
|
10%
|
| | Corporate Net Revenue | | |
$1,298.7M
|
| |
$1,411.7M
|
| |
$1,524.6M
|
| |
$1,981.0M
|
| |
200.0%
|
|
10%
|
| | Contribution Margin (BU) (1) | | |
50.6%
|
| |
54.7%
|
| |
58.8%
|
| |
59.0%
|
| |
200.0%
|
|
40%
|
| |
Net Operating Revenue (BU)
(1)
|
| |
$198.4M
|
| |
$215.6M
|
| |
$232.9M
|
| |
$286.4M
|
| |
200.0%
|
|
NEO
|
| |
2021 Short-Term
Incentive Target |
| |
2021 Payout
Multiple (1) |
| |
2021 Short-Term
Incentive Payout |
| |||||||||
Frederick H. Eppinger
|
| | | $ | 1,099,688 | | | | | | 200.0 % | | | | | $ | 2,199,375 | | |
David C. Hisey
|
| | | $ | 493,750 | | | | | | 200.0 % | | | | | $ | 987,500 | | |
Steven M. Lessack
|
| | | $ | 565,000 | | | | | | 200.0 % | | | | | $ | 1,130,000 | | |
John L. Killea
|
| | | $ | 497,000 | | | | | | 200.0 % | | | | | $ | 994,000 | | |
Tara S. Smith
|
| | | $ | 305,000 | | | | | | 200.0 % | | | | | $ | 610,000 | | |
NEO
|
| |
Stock Options
|
| |
Time-Based
Restricted Stock Units |
| |
Performance Based
Restricted Stock Units |
| |||||||||
Frederick H. Eppinger
|
| | | | 43,987 | | | | | | 14,871 | | | | | | 14,871 | | |
David C. Hisey
|
| | | | 21,944 | | | | | | 7,419 | | | | | | 7,419 | | |
Steven M. Lessack
|
| | | | 12,555 | | | | | | 8,939 (1 ) | | | | | | 4,244 | | |
John L. Killea
|
| | | | 11,044 | | | | | | 3,734 | | | | | | 3,734 | | |
Tara S. Smith
|
| | | | 6,777 | | | | | | 2,291 | | | | | | 2,291 | | |
| | |
TSR vs. Real Estate Comparators
|
| |
Book Value Per Share (CAGR)
|
| |||||||||||||||
Performance
|
| |
Level of Performance
Achieved |
| |
Percentage
Vesting |
| |
Level of
Performance Achieved |
| |
Percentage
Vesting |
| |||||||||
Threshold
|
| |
40
th
percentile
|
| | | | 25 % | | | | | | 5 % | | | | | | 25 % | | |
Target
|
| |
50
th
percentile
|
| | | | 100 % | | | | | | 10 % | | | | | | 100 % | | |
Maximum
|
| |
80
th
percentile
|
| | | | 225 % | | | | | | 15 % | | | | | | 225 % | | |
Actual Performance
|
| |
32.3
rd
percentile
|
| | | | 0 % | | | | | | 24.2 % | | | | | | 225 % | | |
NEO
|
| |
Target Number of
Relative TSR Performance Shares |
| |
Payout
Factor (% of Target) |
| |
Number of
Shares Earned |
| |
Target
Number of Book Value Performance Shares |
| |
Payout
Factor (% of Target) |
| |
Number of
Shares Earned |
| ||||||||||||||||||
David C. Hisey
|
| | | | 7,141 | | | | | | 0 % | | | | | | 0 | | | | | | 7,141 | | | | | | 225 % | | | | | | 16,067 | | |
John L. Killea
|
| | | | 3,483 | | | | | | 0 % | | | | | | 0 | | | | | | 3,483 | | | | | | 225 % | | | | | | 7,836 | | |
| Beazer Homes USA Inc. | | | KB Home | | | PulteGroup Inc. | |
| CBRE Group Inc. | | | Lennar Corp. | | | Radian Group Inc. | |
| Century Communities Inc. | | | LGI Homes Inc. | | | RE/MAX Holdings Inc. | |
| Comstock Holding Cos. | | | M/I Homes Inc. | | | Realogy Holdings Corp. | |
| CoStar Group Inc. | | | Marcus & Millichap Inc. | | | Taylor Morrison Home Corp. | |
| D.R. Horton Inc. | | | MDC Holdings Inc. | | | Toll Brothers Inc. | |
| Fidelity National Financial | | | Meritage Homes Corp. | | | TRI Pointe Group Inc. | |
| First American Fin. Corp. | | | MGIC Investment Corp. | | | Zillow Group Inc. | |
| Hovnanian Enterprises Inc. | | | Mr. Cooper Group Inc. | | | | |
| Investors Title Co. | | | NMI Holdings Inc | | | | |
| Jones Lang LaSalle Inc. | | | NVR Inc. | | | | |
Named Executive Officer
|
| |
Ownership Level
as Multiple of Salary |
| |||
Frederick H. Eppinger
|
| | | | 5x | | |
David C. Hisey
|
| | | | 2x | | |
Steven M. Lessack
|
| | | | 2x | | |
John L. Killea
|
| | | | 2x | | |
Tara S. Smith
|
| | | | 2x | | |
Name and
Principal Position |
| |
Year
|
| |
Salary
|
| |
Bonus
|
| |
Stock Awards
(1)
|
| |
Option Awards
(2)
|
| |
Non-Equity
Incentive Plan Compensation (3) |
| |
All Other
Compensation (4) |
| |
SEC Total
|
| ||||||||||||||||||||||||
Frederick H. Eppinger
Chief Executive Officer |
| | | | 2021 | | | | | $ | 879,750 | | | | | | | | | | | $ | 1,583,464 | | | | | $ | 406,440 | | | | | $ | 2,199,375 | | | | | $ | 78,626 | | | | | $ | 5,147,655 | | |
| | | 2020 | | | | | $ | 850,000 | | | | | | | | | | | $ | 764,982 | | | | | $ | 763,085 | | | | | $ | 1,593,750 | | | | | $ | 66,028 | | | | | $ | 4,037,845 | | | ||
| | | 2019 | | | | | $ | 264,263 | | | | | | | | | | | $ | 499,999 | | | | | | | | | | | $ | 776,946 | | | | | $ | 15,910 | | | | | $ | 1,557,118 | | | ||
David C. Hisey
Chief Financial Officer, Secretary, and Treasurer |
| | | | 2021 | | | | | $ | 493,750 | | | | | | | | | | | $ | 789,975 | | | | | $ | 202,763 | | | | | $ | 987,500 | | | | | $ | 128,578 | | | | | $ | 2,602,566 | | |
| | | 2020 | | | | | $ | 475,000 | | | | | | | | | | | $ | 379,986 | | | | | $ | 379,050 | | | | | $ | 712,500 | | | | | $ | 100,687 | | | | | $ | 2,047,223 | | | ||
| | | 2019 | | | | | $ | 461,250 | | | | | | | | | | | $ | 922,474 | | | | | | | | | | | $ | 1,011,863 | | | | | $ | 22,681 | | | | | $ | 2,418,268 | | | ||
Steven M. Lessack
Group President |
| | | | 2021 | | | | | $ | 565,000 | | | | | | | | | | | $ | 701,863 | | | | | $ | 116,008 | | | | | $ | 1,130,000 | | | | | $ | 89,170 | | | | | $ | 2,602,041 | | |
| | | 2020 | | | | | $ | 565,000 | | | | | | | | | | | $ | 117,968 | | | | | $ | 117,705 | | | | | $ | 847,500 | | | | | $ | 81,538 | | | | | $ | 1,729,711 | | | ||
| | | 2019 | | | | | $ | 563,750 | | | | | $ | 200,000 | | | | | | | | | | | | | | | | | $ | 723,011 | | | | | $ | 142,365 | | | | | $ | 1,629,126 | | | ||
John L. Killea
Chief Legal Officer and Chief Compliance Officer |
| | | | 2021 | | | | | $ | 497,000 | | | | | | | | | | | $ | 397,596 | | | | | $ | 102,047 | | | | | $ | 994,000 | | | | | $ | 81,616 | | | | | $ | 2,072,259 | | |
| | | 2020 | | | | | $ | 475,000 | | | | | | | | | | | $ | 189,973 | | | | | $ | 189,525 | | | | | $ | 712,500 | | | | | $ | 94,647 | | | | | $ | 1,661,645 | | | ||
| | | 2019 | | | | | $ | 450,000 | | | | | | | | | | | $ | 449,934 | | | | | | | | | | | $ | 987,184 | | | | | $ | 61,401 | | | | | $ | 1,948,519 | | | ||
Tara Smith
Group President |
| | | | 2021 | | | | | $ | 305,000 | | | | | | | | | | | $ | 243,946 | | | | | $ | 62,619 | | | | | $ | 610,000 | | | | | $ | 29,922 | | | | | $ | 1,251,487 | | |
| | | 2020 | | | | | $ | 305,000 | | | | | | | | | | | $ | 103,694 | | | | | $ | 103,437 | | | | | $ | 264,827 | | | | | $ | 13,762 | | | | | $ | 790,720 | | |
Item
|
| |
Frederick H.
Eppinger |
| |
David C.
Hisey |
| |
Steven M.
Lessack |
| |
John L.
Killea |
| |
Tara S. Smith
|
| |||||||||||||||
Other Compensation | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Life Insurance
|
| | | $ | 6,480 | | | | | $ | 4,993 | | | | | $ | 12,437 | | | | | $ | 8,544 | | | | | $ | 561 | | |
Long-Term Disability Insurance Premiums — UNUM IDI
|
| | | $ | 5,027 | | | | | $ | 6,836 | | | | | $ | 3,132 | | | | | $ | 6,961 | | | | | $ | 2,220 | | |
Long-Term Disability Insurance Premiums Group Basic LTD
|
| | | $ | 723 | | | | | $ | 723 | | | | | $ | 723 | | | | | $ | 723 | | | | | $ | 723 | | |
Restricted Stock Dividends
|
| | | $ | 7,696 | | | | | $ | 105,326 | | | | | $ | 1,187 | | | | | $ | 52,588 | | | | | $ | 5,855 | | |
401(k) Matching Contribution
|
| | | $ | 10,700 | | | | | $ | 10,700 | | | | | $ | 10,700 | | | | | $ | 10,700 | | | | | $ | 10,700 | | |
Tax Preparation Services
|
| | | | | | | | | | | | | | | $ | 43,607 | | | | | | | | | | | | | | |
Perquisites | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Auto Allowance
|
| | | | | | | | | | | | | | | $ | 12,000 | | | | | $ | 2,100 (1 ) | | | | | | | | |
Financial Planning Services
|
| | | | | | | | | | | | | | | $ | 5,384 | | | | | | | | | | | $ | 9,863 | | |
Housing Allowance
|
| | | $ | 48,000 | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total
|
| | | $ | 78,626 | | | | | $ | 128,578 | | | | | $ | 89,170 | | | | | $ | 81,616 | | | | | $ | 29,922 | | |
Name
|
| |
2021
Grant Date |
| |
Short-Term Incentive Plan Awards
|
| |
Performance
Based Long- Term Incentive Plan Awards |
| |
Stock
Options |
| |
Time Based
Long-Term Incentive Plan Awards |
| |
Grant Date
Fair Value of LTI Awards |
| |||||||||||||||||||||||||||
|
Threshold
|
| |
Target
|
| |
Maximum
|
| ||||||||||||||||||||||||||||||||||||||
Frederick H. Eppinger
|
| |
Jan 1(1)
|
| | | $ | 549,844 | | | | | $ | 1,099,688 | | | | | $ | 2,199,376 | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | |
Mar 10(2)
|
| | | | | | | | | | | | | | | | | | | | | | 14,871 | | | | | | | | | | | | | | | | | $ | 791,732 | | |
| | |
Mar 10(3)
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | 43,987 | | | | | | | | | | | $ | 406,440 | | |
| | |
Mar 10(4)
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 14,871 | | | | | $ | 791,732 | | |
David C. Hisey
|
| |
Jan 1(1)
|
| | | $ | 246,875 | | | | | $ | 493,750 | | | | | $ | 987,500 | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | |
Mar 10(2)
|
| | | | | | | | | | | | | | | | | | | | | | 7,419 | | | | | | | | | | | | | | | | | $ | 394,988 | | |
| | |
Mar 10(3)
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | 21,944 | | | | | | | | | | | $ | 202,763 | | |
| | |
Mar 10(4)
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 7,419 | | | | | $ | 394,988 | | |
Steven M. Lessack
|
| |
Jan 1(1)
|
| | | $ | 282,500 | | | | | $ | 565,000 | | | | | $ | 1,130,000 | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | |
Mar 10(2)
|
| | | | | | | | | | | | | | | | | | | | | | 4,244 | | | | | | | | | | | | | | | | | $ | 225,951 | | |
| | |
Mar 10(3)
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | 12,555 | | | | | | | | | | | $ | 116,008 | | |
| | |
Mar 10(4)
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 8,939 | | | | | $ | 475,912 | | |
John L. Killea
|
| |
Jan 1(1)
|
| | | $ | 248,500 | | | | | $ | 497,000 | | | | | $ | 994,000 | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | |
Mar 10(2)
|
| | | | | | | | | | | | | | | | | | | | | | 3,734 | | | | | | | | | | | | | | | | | $ | 198,798 | | |
| | |
Mar 10(3)
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | 11,044 | | | | | | | | | | | $ | 102,047 | | |
| | |
Mar 10(4)
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 3,734 | | | | | $ | 198,798 | | |
Tara S. Smith
|
| |
Jan 1(1)
|
| | | $ | 152,500 | | | | | $ | 305,000 | | | | | $ | 610,000 | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | |
Mar 10(2)
|
| | | | | | | | | | | | | | | | | | | | | | 2,291 | | | | | | | | | | | | | | | | | $ | 121,973 | | |
| | |
Mar 10(3)
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | 6,777 | | | | | | | | | | | $ | 62,619 | | |
| | |
Mar 10(4)
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 2,291 | | | | | $ | 121,973 | | |
Name
|
| |
Number of Shares Acquired
on Vesting |
| |
Value Realized on Vesting
|
| ||||||
Frederick H. Eppinger
|
| | | | 6,413 | | | | | $ | 308,658 | | |
David C. Hisey
|
| | | | 23,940 | | | | | $ | 1,517,759 | | |
Steven M. Lessack
|
| | | | 989 | | | | | $ | 47,601 | | |
John L. Killea
|
| | | | 11,743 | | | | | $ | 743,502 | | |
Tara S. Smith
|
| | | | 2,219 | | | | | $ | 139,079 | | |
| | |
Option Awards
|
| |
Stock Awards
|
| ||||||||||||||||||||||||||||||||||||||||||||||||
Name (a)
|
| |
Grant
Date |
| |
Number of
Securities Underlying Unexercised Options Exercisable (#) |
| |
Number of
Securities Underlying Unexercised Options Unexercisable (#) |
| |
Option
Exercise Price ($/Sh) |
| |
Option
Expiration Date |
| |
Number of
Time-Based Shares or Units That Have Not Vested (#) |
| |
Market
Value of Time-Based Shares or Units That Have Not Vested ($) |
| |
Number of
Performance- Based Shares or Units That Have Not Vested (#) |
| |
Market
Value of Performance- Based Shares or Units That Have Not Vested ($) |
| |||||||||||||||||||||||||||
Frederick H. Eppinger
|
| | | | 9/9/2019 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 14,806 | | | | | | 1,180,482 | | | | | | | | | | | | | | |
| | | 2/7/2020 | | | | | | 28,687 | | | | | | 114,750 | | | | | | 39.76 | | | | | | 2/7/2030 | | | | | | 12,827 | | | | | | 1,022,697 | | | | | | | | | | | | | | | ||
| | | 3/10/2021 | | | | | | | | | | | | 43,987 | | | | | | 53.24 | | | | | | 3/10/2031 | | | | | | 14,871 | | | | | | 1,185,665 | | | | | | 14,871 | | | | | | 1,185,665 | | | ||
David C. Hisey
|
| | | | 2/8/2019 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 2,381 | | | | | | 189,837 | | | | | | | | | | | | | | |
| | | 2/7/2020 | | | | | | 14,250 | | | | | | 57,000 | | | | | | 39.76 | | | | | | 2/7/2030 | | | | | | 6,372 | | | | | | 508,040 | | | | | | | | | | | | | | | ||
| | | 3/10/2021 | | | | | | | | | | | | 21,944 | | | | | | 53.24 | | | | | | 3/10/2031 | | | | | | 7,419 | | | | | | 591,517 | | | | | | 7,419 | | | | | | 591,517 | | | ||
Steven M. Lessack
|
| | | | 2/7/2020 | | | | | | 4,425 | | | | | | 17,700 | | | | | | 39.76 | | | | | | 2/7/2030 | | | | | | 1,978 | | | | | | 157,706 | | | | | | | | | | | | | | |
| | | 3/10/2021 | | | | | | | | | | | | 12,555 | | | | | | 53.24 | | | | | | 3/10/2031 | | | | | | 8,939 | | | | | | 712,706 | | | | | | 4,244 | | | | | | 338,374 | | | ||
John L. Killea
|
| | | | 2/8/2019 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 1,161 | | | | | | 92,567 | | | | | | | | | | | | | | |
| | | 2/7/2020 | | | | | | 7,125 | | | | | | 28,500 | | | | | | 39.76 | | | | | | 2/7/2030 | | | | | | 3,186 | | | | | | 254,020 | | | | | | | | | | | | | | | ||
| | | 3/10/2021 | | | | | | | | | | | | 11,044 | | | | | | 53.24 | | | | | | 3/10/2031 | | | | | | 3,734 | | | | | | 297,712 | | | | | | 3,734 | | | | | | 297,712 | | | ||
Tara S. Smith
|
| | | | 11/6/2019 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 1,218 | | | | | | 97,111 | | | | | | | | | | | | | | |
| | | 2/7/2020 | | | | | | 3,888 | | | | | | 15,555 | | | | | | 39.76 | | | | | | 2/7/2030 | | | | | | 1,739 | | | | | | 138,650 | | | | | | | | | | | | | | | ||
| | | 3/10/2021 | | | | | | | | | | | | 6,777 | | | | | | 53.24 | | | | | | 3/10/2031 | | | | | | 2,291 | | | | | | 182,661 | | | | | | 2,291 | | | | | | 182,661 | | |
Name
|
| |
2021 NEO
Contributions |
| |
2021 Change in
Account Value (1) |
| |
2021
Withdrawals |
| |
Ending Balance as
of 12/31/21 |
| ||||||||||||
John L. Killea
|
| | | $ | 0 | | | | | $ | 20,368 | | | | | $ | 0 | | | | | $ | 203,269 | | |
Payment
|
| |
Death
|
| |
Disability
|
| |
Retirement
(1)
|
| |
Involuntary
Termination without “Cause” or Voluntary Resignation for “Good Reason” (1) |
| |
Involuntary
Termination without “Cause” or Voluntary Resignation for “Good Reason” in connection with Change in Control (1) |
|
Accrued Amounts
(2)
|
| | Yes | | | Yes | | | Yes | | | Yes | | | Yes | |
Retirement or Severance Payments
|
| | Not applicable | | | Not applicable | | | None for CEO; 1 times base salary for other NEOs | | | 2 times base salary for CEO; 1 times base salary for other NEOs | | | 2 times base salary for all NEOs | |
Short-Term Incentive
|
| | Prorated incentive target for full months | | | Prorated incentive target for full months | | | None for CEO; 1 times incentive target | | | Not applicable | | | 2 times incentive target for all NEOs | |
Payment
|
| |
Death
|
| |
Disability
|
| |
Retirement
(1)
|
| |
Involuntary
Termination without “Cause” or Voluntary Resignation for “Good Reason” (1) |
| |
Involuntary
Termination without “Cause” or Voluntary Resignation for “Good Reason” in connection with Change in Control (1) |
|
| | | employed | | | employed | | |
for other NEOs
|
| | | | | | |
Time-Based Long-Term Incentive
|
| | Delivered per vesting schedule on a pro-rata basis | | | Delivered per vesting schedule on a pro-rata basis | | | None for CEO; Delivered per vesting schedule without proration for other NEOs | | | Delivered per vesting schedule on a pro-rata basis | | | Accelerated and fully vested at target (3) | |
Performance-Based Long-Term Incentive
|
| | Delivered per vesting schedule on a pro-rata basis, upon attainment of performance criteria | | | Delivered per vesting schedule on a pro-rata basis, upon attainment of performance criteria | | | None for CEO; Delivered per vesting schedule on a pro-rata basis, upon attainment of performance criteria for other NEOs | | | Delivered per vesting schedule on a pro-rata basis, upon attainment of performance criteria | | | Accelerated and fully vested at target (3) | |
Stock Options
(4)
|
| | Only vested Stock Options are exercisable | | | Only vested Stock Options are exercisable | | | Only vested Stock Options are exercisable | | | Only vested Stock Options are exercisable | | | Accelerated and fully vested | |
COBRA Continuation (Medical Insurance)
|
| | Not applicable | | | Employer paid portion up to 12 months | | | None for CEO; Employer paid portion up to 12 months for other NEOs | | | Employer paid portion up to 18 months for CEO; 12 months for other NEOs | | | Employer paid portion up to 18 months for CEO; 12 months for other NEOs | |
Outplacement Services
|
| | Not applicable | | | Not applicable | | | Not applicable | | | None for CEO; Up to $10,000 for other NEOs | | | None for CEO; Up to $10,000 for other NEOs | |
Frederick H. Eppinger
|
| |
Death
|
| |
Disability
|
| |
Retirement
(1)
|
| |
Involuntary
Termination without “Cause” or Voluntary Resignation for “Good Reason” |
| |
Involuntary
Termination without “Cause” or Voluntary Resignation for “Good Reason” in connection with Change in Control |
| |||||||||||||||
Cash Severance or Retirement Payments
|
| | | | | | | | | | | | | | | | | | | | | $ | 1,759,500 | | | | | $ | 1,759,500 | | |
Short-Term Incentive
|
| | | $ | 1,099,688 | | | | | $ | 1,099,688 | | | | | | | | | | | | | | | | | $ | 2,199,375 | | |
Time-Based Long-Term Incentive
|
| | | $ | 2,060,542 | | | | | $ | 2,060,542 | | | | | | | | | | | $ | 2,060,542 | | | | | $ | 3,388,844 | | |
Performance-Based Long-Term Incentive
|
| | | $ | 263,109 | | | | | $ | 263,109 | | | | | | | | | | | $ | 263,109 | | | | | $ | 789,646 | | |
Stock Options
|
| | | $ | 1,146,619 | | | | | $ | 1,146,619 | | | | | | | | | | | $ | 1,146,619 | | | | | $ | 6,898,393 | | |
COBRA Continuation (Medical Insurance)
|
| | | | | | | | | $ | 16,553 | | | | | | | | | | | $ | 24,829 | | | | | $ | 24,829 | | |
Total | | | | $ | 4,569,958 | | | | | $ | 4,586,511 | | | | | $ | 0 | | | | | $ | 5,254,599 | | | | | $ | 15,060,586 | | |
David C. Hisey
|
| |
Death or Disability
|
| |
Retirement
(1)
|
| |
Involuntary
Termination without “Cause” or Voluntary Resignation for “Good Reason” |
| |
Involuntary
Termination without “Cause” or Voluntary Resignation for “Good Reason” in connection with Change in Control |
| ||||||||||||
Cash Severance or Retirement Payments
|
| | | | | | | | | | | | | | | $ | 493,750 | | | | | $ | 987,500 | | |
Short-Term Incentive
|
| | | $ | 493,750 | | | | | | | | | | | | | | | | | $ | 987,500 | | |
Time-Based Long-Term Incentive
|
| | | $ | 725,543 | | | | | | | | | | | $ | 725,543 | | | | | $ | 1,289,394 | | |
Performance-Based Long-Term Incentive
|
| | | $ | 197,013 | | | | | | | | | | | $ | 197,013 | | | | | $ | 591,517 | | |
Stock Options
|
| | | $ | 569,573 | | | | | | | | | | | $ | 569,573 | | | | | $ | 3,429,159 | | |
Outplacement Services
|
| | | | | | | | | | | | | | | $ | 10,000 | | | | | $ | 10,000 | | |
Total | | | | $ | 1,985,878 | | | | | $ | 0 | | | | | $ | 1,995,878 | | | | | $ | 7,295,069 | | |
Steven M. Lessack
|
| |
Death
|
| |
Disability
|
| |
Retirement
|
| |
Involuntary
Termination without “Cause” or Voluntary Resignation for “Good Reason” |
| |
Involuntary
Termination without “Cause” or Voluntary Resignation for “Good Reason” in connection with Change in Control |
| |||||||||||||||
Cash Severance or Retirement Payments
|
| | | | | | | | | | | | | | | $ | 565,000 | | | | | $ | 565,000 | | | | | $ | 1,130,000 | | |
Short-Term Incentive
|
| | | $ | 565,000 | | | | | $ | 565,000 | | | | | $ | 565,000 | | | | | | | | | | | $ | 1,130,000 | | |
Time-Based Long-Term Incentive
|
| | | $ | 342,600 | | | | | $ | 342,600 | | | | | $ | 870,412 | | | | | $ | 342,600 | | | | | $ | 870,412 | | |
Performance-Based Long-Term Incentive
|
| | | $ | 112,738 | | | | | $ | 112,738 | | | | | $ | 112,738 | | | | | $ | 112,738 | | | | | $ | 338,374 | | |
Stock Options
|
| | | $ | 176,867 | | | | | $ | 176,867 | | | | | $ | 176,867 | | | | | $ | 176,867 | | | | | $ | 1,216,918 | | |
COBRA Continuation (Medical Insurance)
|
| | | | | | | | | $ | 7,154 | | | | | $ | 7,154 | | | | | $ | 7,154 | | | | | $ | 7,154 | | |
Outplacement Services
|
| | | | | | | | | | | | | | | | | | | | | $ | 10,000 | | | | | $ | 10,000 | | |
Total | | | | $ | 1,197,205 | | | | | $ | 1,204,359 | | | | | $ | 2,297,172 | | | | | $ | 1,214,359 | | | | | $ | 4,702,858 | | |
John L. Killea
|
| |
Death
|
| |
Disability
|
| |
Retirement
|
| |
Involuntary
Termination without “Cause” or Voluntary Resignation for “Good Reason” |
| |
Involuntary
Termination without “Cause” or Voluntary Resignation for “Good Reason” in connection with Change in Control |
| |||||||||||||||
Cash Severance or Retirement Payments
|
| | | | | | | | | | | | | | | $ | 497,000 | | | | | $ | 497,000 | | | | | $ | 994,000 | | |
Short-Term Incentive
|
| | | $ | 497,000 | | | | | $ | 497,000 | | | | | $ | 497,000 | | | | | | | | | | | $ | 994,000 | | |
Time-Based Long-Term Incentive
|
| | | $ | 361,097 | | | | | $ | 361,097 | | | | | $ | 644,298 | | | | | $ | 361,097 | | | | | $ | 644,298 | | |
Performance-Based Long-Term Incentive
|
| | | $ | 99,184 | | | | | $ | 99,184 | | | | | $ | 99,184 | | | | | $ | 99,184 | | | | | $ | 297,712 | | |
Stock Options
|
| | | $ | 284,786 | | | | | $ | 284,786 | | | | | $ | 284,786 | | | | | $ | 284,786 | | | | | $ | 1,716,487 | | |
COBRA Continuation (Medical Insurance)
|
| | | | | | | | | $ | 12,799 | | | | | $ | 12,799 | | | | | $ | 12,799 | | | | | $ | 12,799 | | |
Outplacement Services
|
| | | | | | | | | | | | | | | | | | | | | $ | 10,000 | | | | | $ | 10,000 | | |
Total | | | | $ | 1,242,068 | | | | | $ | 1,254,867 | | | | | $ | 2,035,068 | | | | | $ | 1,264,867 | | | | | $ | 4,669,296 | | |
Tara S. Smith
|
| |
Death
|
| |
Disability
|
| |
Retirement
(1)
|
| |
Involuntary
Termination without “Cause” or Voluntary Resignation for “Good Reason” (1) |
| |
Involuntary
Termination without “Cause” or Voluntary Resignation for “Good Reason” in connection with Change in Control |
| |||||||||||||||
Cash Severance or Retirement Payments
|
| | | | | | | | | | | | | | | | | | | | | $ | 305,000 | | | | | $ | 610,000 | | |
Short-Term Incentive
|
| | | $ | 305,000 | | | | | $ | 305,000 | | | | | | | | | | | | | | | | | $ | 610,000 | | |
Time-Based Long-Term Incentive
|
| | | $ | 250,352 | | | | | $ | 250,352 | | | | | | | | | | | $ | 250,352 | | | | | $ | 418,423 | | |
Performance-Based Long-Term Incentive
|
| | | $ | 60,834 | | | | | $ | 60,834 | | | | | | | | | | | $ | 60,834 | | | | | $ | 182,661 | | |
Stock Options
|
| | | $ | 155,403 | | | | | $ | 155,403 | | | | | | | | | | | $ | 155,403 | | | | | $ | 956,659 | | |
COBRA Continuation (Medical Insurance)
|
| | | | | | | | | $ | 16,553 | | | | | | | | | | | $ | 16,553 | | | | | $ | 16,553 | | |
Outplacement Services
|
| | | | | | | | | | | | | | | | | | | | | $ | 10,000 | | | | | $ | 10,000 | | |
Total | | | | $ | 771,590 | | | | | $ | 788,142 | | | | | $ | 0 | | | | | $ | 798,142 | | | | | $ | 2,804,297 | | |
Name
|
| |
Fees Earned
or Paid in Cash |
| |
Stock
Awards (1) |
| |
All Other
Compensation (2)(3)(4) |
| |
Total
|
| ||||||||||||
Thomas G. Apel
|
| | | $ | 246,000 | | | | | $ | 85,000 | | | | | $ | 8,246 (5 ) | | | | | $ | 339,246 | | |
C. Allen Bradley, Jr.
|
| | | $ | 116,500 | | | | | $ | 85,000 | | | | | $ | 8,968 (6 ) | | | | | $ | 210,468 | | |
Robert L. Clarke
|
| | | $ | 55,000 | | | | | $ | 170,000 | | | | | $ | 3,968 (7 ) | | | | | $ | 228,968 | | |
William S. Corey
|
| | | $ | 130,000 | | | | | $ | 85,000 | | | | | $ | 7,573 (8 ) | | | | | $ | 222,573 | | |
Deborah Matz
|
| | | $ | 133,500 | | | | | $ | 85,000 | | | | | $ | 3,996 (9 ) | | | | | $ | 222,496 | | |
Matthew W. Morris
|
| | | $ | 95,000 | | | | | $ | 85,000 | | | | | $ | 7,246 (10 ) | | | | | $ | 187,246 | | |
Karen R. Pallotta
|
| | | $ | 122,500 | | | | | $ | 85,000 | | | | | $ | 2,246 (11 ) | | | | | $ | 209,746 | | |
Manolo Sanchez
|
| | | $ | 131,500 | | | | | $ | 85,000 | | | | | $ | 8,968 (6 ) | | | | | $ | 225,468 | | |
| | |
Year Ended December 31
|
| |||||||||
| | |
2021
|
| |
2020
|
| ||||||
Audit fees
(1)
|
| | | $ | 2,641,686 | | | | | $ | 2,125,036 | | |
Audit-related fees
|
| | | | — | | | | | | — | | |
Tax fees
(2)
.
|
| | | $ | 2,466 | | | | | $ | 3,240 | | |
No information found
* THE VALUE IS THE MARKET VALUE AS OF THE LAST DAY OF THE QUARTER FOR WHICH THE 13F WAS FILED.
FUND | NUMBER OF SHARES | VALUE ($) | PUT OR CALL |
---|
DIRECTORS | AGE | BIO | OTHER DIRECTOR MEMBERSHIPS |
---|
No information found
No Customers Found
Suppliers
Supplier name | Ticker |
---|---|
Cigna Corporation | CI |
Aon Plc | AON |
American International Group, Inc. | AIG |
Synchrony Financial | SYF |
Intercontinental Exchange, Inc. | ICE |
Arch Capital Group Ltd. | ACGL |
Price
Yield
Owner | Position | Direct Shares | Indirect Shares |
---|