CNO Financial Group Files Definitive Proxy Statement for 2024 Annual Meeting

Ticker: CNO-PA · Form: DEF 14A · Filed: Mar 27, 2024 · CIK: 1224608

Cno Financial Group, Inc. DEF 14A Filing Summary
FieldDetail
CompanyCno Financial Group, Inc. (CNO-PA)
Form TypeDEF 14A
Filed DateMar 27, 2024
Risk Levellow
Pages16
Reading Time19 min
Key Dollar Amounts$4.1 billion, $276.5 m, $2.40, $630.6 m, $5.36
Sentimentneutral

Sentiment: neutral

Topics: CNO Financial, Proxy Statement, DEF 14A, Annual Meeting, Director Election

Related Tickers: CNO

TL;DR

<b>CNO Financial Group has filed its definitive proxy statement detailing the election of directors and other shareholder matters for its upcoming annual meeting.</b>

AI Summary

CNO Financial Group, Inc. (CNO-PA) filed a Proxy Statement (DEF 14A) with the SEC on March 27, 2024. CNO Financial Group, Inc. filed a Definitive Proxy Statement (DEF 14A) on March 27, 2024. The filing covers the fiscal year ending December 31, 2023. The proxy statement details the upcoming Annual Meeting of Shareholders. Key proposals include the election of eight directors for one-year terms. The company is incorporated in Delaware and headquartered in Carmel, Indiana.

Why It Matters

For investors and stakeholders tracking CNO Financial Group, Inc., this filing contains several important signals. This filing provides shareholders with crucial information regarding director nominations and voting procedures, enabling informed participation in corporate governance. As a DEF 14A filing, it serves as the official document for soliciting shareholder votes, impacting the composition and direction of the company's board.

Risk Assessment

Risk Level: low — CNO Financial Group, Inc. shows low risk based on this filing. The filing is a routine DEF 14A, providing standard disclosures for an annual meeting, with no immediate financial or operational red flags.

Analyst Insight

Shareholders should review the director nominations and other proposals in the proxy statement to make informed voting decisions.

Key Numbers

  • 8 — Directors Nominated (Proposal 1: To elect the eight directors nominated to the Board of Directors)
  • 2025 — Director Term End (Each director nominated for a one-year term ending in 2025)
  • 2023-12-31 — Fiscal Year End (Conformed period of report)
  • 2024-03-27 — Filing Date (Conformed submission date)

Key Players & Entities

  • CNO Financial Group, Inc. (company) — Registrant name
  • DEF 14A (filing) — Form type
  • 2024-03-27 (date) — Filing date
  • 2023-12-31 (date) — Reporting period end date
  • Carmel, Indiana (location) — Business address city and state
  • 11299 NORTH ILLINOIS STREET, SUITE 200 (address) — Business street address
  • 3178176100 (phone) — Business phone number
  • CONSECO INC (company) — Former company name

FAQ

When did CNO Financial Group, Inc. file this DEF 14A?

CNO Financial Group, Inc. filed this Proxy Statement (DEF 14A) with the SEC on March 27, 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 CNO Financial Group, Inc. (CNO-PA).

Where can I read the original DEF 14A filing from CNO Financial Group, 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 CNO Financial Group, Inc..

What are the key takeaways from CNO Financial Group, Inc.'s DEF 14A?

CNO Financial Group, Inc. filed this DEF 14A on March 27, 2024. Key takeaways: CNO Financial Group, Inc. filed a Definitive Proxy Statement (DEF 14A) on March 27, 2024.. The filing covers the fiscal year ending December 31, 2023.. The proxy statement details the upcoming Annual Meeting of Shareholders..

Is CNO Financial Group, Inc. a risky investment based on this filing?

Based on this DEF 14A, CNO Financial Group, Inc. presents a relatively low-risk profile. The filing is a routine DEF 14A, providing standard disclosures for an annual meeting, with no immediate financial or operational red flags.

What should investors do after reading CNO Financial Group, Inc.'s DEF 14A?

Shareholders should review the director nominations and other proposals in the proxy statement to make informed voting decisions. The overall sentiment from this filing is neutral.

How does CNO Financial Group, Inc. compare to its industry peers?

CNO Financial Group operates in the accident and health insurance industry, providing financial services to middle-income, working-class, and retired individuals.

Are there regulatory concerns for CNO Financial Group, Inc.?

The filing is made under Section 14(a) of the Securities Exchange Act of 1934, which governs the solicitation of proxies from shareholders.

Industry Context

CNO Financial Group operates in the accident and health insurance industry, providing financial services to middle-income, working-class, and retired individuals.

Regulatory Implications

The filing is made under Section 14(a) of the Securities Exchange Act of 1934, which governs the solicitation of proxies from shareholders.

What Investors Should Do

  1. Review the list of nominated directors and their qualifications.
  2. Understand the voting procedures and deadlines for the annual meeting.
  3. Examine any other proposals presented to shareholders for a vote.

Key Dates

  • 2024-03-27: Filing of DEF 14A — Official filing of the proxy statement for the annual meeting.
  • 2023-12-31: Fiscal Year End — The period covered by the financial information in the proxy statement.

Year-Over-Year Comparison

This is the initial filing of the definitive proxy statement for the 2024 annual meeting, following the reporting period of December 31, 2023.

Filing Stats: 4,691 words · 19 min read · ~16 pages · Grade level 11.5 · Accepted 2024-03-27 16:06:37

Key Financial Figures

  • $4.1 billion — r "our") is a Fortune 1000 company with $4.1 billion in total revenues for the year ended De
  • $276.5 m — lts in 2023. We reported net income of $276.5 million, or $2.40 per diluted share, comp
  • $2.40 — ported net income of $276.5 million, or $2.40 per diluted share, compared to $630.6 m
  • $630.6 m — or $2.40 per diluted share, compared to $630.6 million, or $5.36 per diluted share, in 2
  • $5.36 — d share, compared to $630.6 million, or $5.36 per diluted share, in 2022. Net income
  • $334.9 m — reased) earnings by $(18.8) million and $334.9 million, respectively. Net operating inc
  • $356.1 m — ectively. Net operating income (1) was $356.1 million, or $3.09 per diluted share, comp
  • $3.09 — ating income (1) was $356.1 million, or $3.09 per diluted share, compared to $360.4 m
  • $360.4 m — or $3.09 per diluted share, compared to $360.4 million, or $3.06 per diluted share, in 2
  • $3.06 — d share, compared to $360.4 million, or $3.06 per diluted share, in 2022. Results re
  • $3.2 billion — were up 20% year-over-year to a record $3.2 billion. Demand for Worksite products exceeded
  • $311 million — chases. In 2023, the Company generated $311 million in free cash flow, (1) including the im
  • $233 million — affiliate described below. We returned $233 million to shareholders — $165 million in the f
  • $165 million — returned $233 million to shareholders — $165 million in the form of share repurchases, which
  • $68 million — uted share count outstanding by 4%, and $68 million in the form of common stock dividends.

Filing Documents

Executive Compensation

Executive Compensation 40 Compensation Discussion and Analysis 40 Compensation Committee Report 66 Summary Compensation Table for 2023 67 Grants of Plan-Based Awards in 2023 68 Narrative Supplement to the Summary Compensation Table for 2023 and the Grants of Plan-Based Awards in 2023 Table 69 Outstanding Equity Awards at 2023 Fiscal Year-End 70 Option Exercises and Stock Vested in 2023 73 Nonqualified Deferred Compensation in 2023 73 Potential Payments Upon Termination or Change in Control 74 CEO Pay Ratio 77 2023 Pay Versus Performance 77 Proposal 3—Ratification of the Appointment of Our Independent Registered Public Accounting Firm for 2024 80 Fees Paid to PricewaterhouseCoopers LLP 81 Pre-Approval Policy and Independence 81 Report of the Audit & Enterprise Risk Committee 82 Proposal 4—Approval of Amended and Restated Section 382 Shareholder Rights Plan 83 Stock Ownership Information 88 Other Information 90 Shareholder Proposals for 2025 Annual Meeting 90 Annual Report 90 Householding of Proxy Materials 91 Other Matters 91 ANNEX A—Information Related to Certain Non-GAAP Financial Measures A- 1 ANNEX B—Amended and Restated Section 382 Shareholder Rights Plan B- 1 About CNO Financial Group Our Business CNO Financial Group, Inc. ("CNO," the "Company," "we," "us," or "our") is a Fortune 1000 company with $4.1 billion in total revenues for the year ended December 31, 2023. Our mission is to secure the future of middle-income America by providing insurance and financial services that help protect their health, income and retirement needs, while building enduring value for all our stakeholders. Our strategic plan focuses on delivering long-term value for our shareholders. CNO has a unique set of highly valuable distribution assets that market our annuity, health and life insurance products and workforce benefits solutions. We view the financial results of our business based on our consolidated

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