Enact Holdings, Inc. Files Definitive Proxy Statement

Ticker: ACT · Form: DEF 14A · Filed: Apr 2, 2024 · CIK: 1823529

Enact Holdings, Inc. DEF 14A Filing Summary
FieldDetail
CompanyEnact Holdings, Inc. (ACT)
Form TypeDEF 14A
Filed DateApr 2, 2024
Risk Levellow
Pages15
Reading Time18 min
Key Dollar Amounts$1.15 b, $263 b, $1.9 billion, $4.6 b, $300 million
Sentimentneutral

Sentiment: neutral

Topics: Proxy Statement, DEF 14A, Enact Holdings, Mortgage Insurance, Shareholder Meeting

TL;DR

<b>Enact Holdings, Inc. has filed its Definitive Proxy Statement for the period ending May 16, 2024.</b>

AI Summary

Enact Holdings, Inc. (ACT) filed a Proxy Statement (DEF 14A) with the SEC on April 2, 2024. Enact Holdings, Inc. filed a Definitive Proxy Statement (DEF 14A) on April 2, 2024. The filing covers the period ending May 16, 2024. Enact is a leading U.S. private mortgage insurance provider. The company's business address is 8325 Six Forks Road, Raleigh, NC 27615. Enact Holdings, Inc. was formerly known as Genworth Mortgage Holdings, Inc. until September 2, 2020.

Why It Matters

For investors and stakeholders tracking Enact Holdings, Inc., this filing contains several important signals. This filing is a standard procedural document for publicly traded companies, indicating upcoming shareholder meetings or votes. As a mortgage insurance provider, Enact's proxy statement may contain information relevant to its financial health, executive compensation, and strategic direction, which are key indicators for investors in the housing and financial sectors.

Risk Assessment

Risk Level: low — Enact Holdings, Inc. shows low risk based on this filing. The filing is a routine DEF 14A, which is a standard disclosure document and does not contain new financial performance data or significant operational updates that would inherently increase risk.

Analyst Insight

Review the proxy statement for details on executive compensation, board nominations, and any shareholder proposals to understand potential governance changes and management incentives.

Key Numbers

  • 2024-04-02 — Filing Date (DEF 14A filing date)
  • 2024-05-16 — Period of Report (Conformed period of report)
  • 001-40399 — SEC File Number (SEC file number for Enact Holdings, Inc.)
  • 27615 — ZIP Code (Business address ZIP code)
  • 461579166 — IRS Number (IRS Number for Enact Holdings, Inc.)
  • 2020-09-02 — Date of Name Change (Date Enact Holdings, Inc. changed from Genworth Mortgage Holdings, Inc.)

Key Players & Entities

  • Enact Holdings, Inc. (company) — Registrant
  • Genworth Mortgage Holdings, Inc. (company) — Former company name
  • 0001823529-24-000092 (filing_id) — Accession Number
  • 2024-04-02 (date) — Filing Date
  • 2024-05-16 (date) — Period of Report
  • 8325 Six Forks Road (address) — Business Address
  • Raleigh (location) — Business Address City
  • NC (location) — Business Address State

FAQ

When did Enact Holdings, Inc. file this DEF 14A?

Enact Holdings, Inc. filed this Proxy Statement (DEF 14A) with the SEC on April 2, 2024.

What is a DEF 14A filing?

A DEF 14A is a definitive proxy statement sent to shareholders before annual meetings, covering executive compensation, board nominations, and shareholder votes. This particular DEF 14A was filed by Enact Holdings, Inc. (ACT).

Where can I read the original DEF 14A filing from Enact Holdings, Inc.?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by Enact Holdings, Inc..

What are the key takeaways from Enact Holdings, Inc.'s DEF 14A?

Enact Holdings, Inc. filed this DEF 14A on April 2, 2024. Key takeaways: Enact Holdings, Inc. filed a Definitive Proxy Statement (DEF 14A) on April 2, 2024.. The filing covers the period ending May 16, 2024.. Enact is a leading U.S. private mortgage insurance provider..

Is Enact Holdings, Inc. a risky investment based on this filing?

Based on this DEF 14A, Enact Holdings, Inc. presents a relatively low-risk profile. The filing is a routine DEF 14A, which is a standard disclosure document and does not contain new financial performance data or significant operational updates that would inherently increase risk.

What should investors do after reading Enact Holdings, Inc.'s DEF 14A?

Review the proxy statement for details on executive compensation, board nominations, and any shareholder proposals to understand potential governance changes and management incentives. The overall sentiment from this filing is neutral.

Key Dates

  • 2024-04-02: Filing of Definitive Proxy Statement (DEF 14A) — Indicates upcoming shareholder actions or meetings.
  • 2024-05-16: Period of Report End Date — Defines the reporting period for the proxy statement.
  • 2020-09-02: Name Change to Enact Holdings, Inc. — Marks the transition from Genworth Mortgage Holdings, Inc.

Filing Stats: 4,514 words · 18 min read · ~15 pages · Grade level 16.2 · Accepted 2024-04-02 06:35:52

Key Financial Figures

  • $1.15 b — iness. Enact achieved record revenue of $1.15 billion, an insurance-in-force of $263 bi
  • $263 b — $1.15 billion, an insurance-in-force of $263 billion, and a record low expense ratio o
  • $1.9 billion — ERs sufficiency at year end of 161%, or $1.9 billion above the PMIERs requirements, total eq
  • $4.6 b — he PMIERs requirements, total equity of $4.6 billion, and consolidated risk to capital
  • $300 million — g performance enabled us to return over $300 million to shareholders, exceeding our target.
  • $53 billion — erated new insurance written ("NIW") of $53 billion and our 2023 market share was approxima
  • $263 billion — ce Insurance-in-force rose to a record $263 billion on $53 billion of NIW Executed on our
  • $223 million — expenses were down 7% year over year to $223 million Invested to increase differentiation,
  • $75 million — first-ever share repurchase program of $75 million and initiated a new $100 million share
  • $100 million — gram of $75 million and initiated a new $100 million share repurchase program Capital and l
  • $225,000 — n the moments that matter Awarded over $225,000 in grants to nonprofit organizations th
  • $425,000 — e Enact Foundation has distributed over $425,000 in grants to support nonprofit organiza

Filing Documents

Executive Compensation

Executive Compensation 39 P roposal 2 Advisory Vote to Approve Named Executive Officer Compensation 39 Compensation Discussion and Analysis 40 Named Executive Officers 40 2023 Corporation Performance 41 Compensation Philosophy 41 Key Governance Practices 42 Compensation Decision-Making Process 42 Key Compensation Program Elements 43 Other Key Compensation Governance Policies 49 Report of the Compensation Committee 50

Executive Compensation Tables

Executive Compensation Tables 51 2023 Summary Compensation Table 51 Grants of Plan-Based Awards 52 Outstanding Equity Awards at 2023 Fiscal Year-End Table 54 2023 Options Exercised and Stock Vested Table 55 Pension Benefits 55 Non-Qualified Deferred Compensation 56 Potential Payments upon Termination or Change of Control 57 CEO Pay Ratio 61 Pay Versus Performance 62 Audit Matters 65 P roposal 3 Ratification of Selection of Independent Registered Public Accounting Firm 65 Approval of Audit and Non-Audit Services 66 Auditor Fees 66 Report of the Audit Committee 66 Proposal 4 Approval of an Amendment to the Corporation's Certificate of Incorporation to Adopt Provisions Limiting the Liability of Certain Officers as Permitted under Delaware Law 67 Information About Our Stock 69 69 Equity Compensation Plan Information 70 Questions and Answers about the 2024 Annual Meeting and Proxy Voting 71 Other Information 75 Voting 75 Meeting Admission 75 2023 Annual Report 75 Date of Distribution 75 Internet Availability of Proxy Materials 75 Appendix A 76 Certain statements in this proxy statement, other than purely historical information, including estimates, projections, statements relating to our business plans, objectives and expected operating results, and the assumptions upon which those statements are based, are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements may appear throughout this report. These forward-looking statements generally are identified by the words "believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," "future," "opportunity," "plan," "may," "should," "will," "would," "will be," "will continue," "will likely result," and similar expressions. For

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