Everest Group Adds Directors, Sets CFO Compensation
Ticker: EG · Form: 8-K · Filed: Dec 3, 2024 · CIK: 1095073
| Field | Detail |
|---|---|
| Company | Everest Group, Ltd. (EG) |
| Form Type | 8-K |
| Filed Date | Dec 3, 2024 |
| Risk Level | low |
| Pages | 1 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Sentiment: neutral
Topics: management-change, executive-compensation, board-of-directors
TL;DR
Everest Group adds 2 directors, names new CFO with $650K salary + 150% bonus.
AI Summary
Everest Group, Ltd. announced on December 2, 2024, changes in its board of directors and executive compensation. Specifically, the company elected two new directors, Ms. Sarah L. Cooper and Mr. Michael J. Scharff, to its Board of Directors, effective December 2, 2024. Additionally, the company entered into a new employment agreement with its Chief Financial Officer, Mr. Michael J. Scharff, which includes a base salary of $650,000 and a target annual bonus of 150% of his base salary.
Why It Matters
The appointment of new directors and the specific compensation details for the CFO signal potential strategic shifts and provide transparency into executive financial arrangements.
Risk Assessment
Risk Level: low — The filing reports routine corporate governance changes and executive compensation, which typically carry low inherent risk.
Key Numbers
- $650,000 — CFO Base Salary (Annual compensation for Michael J. Scharff)
- 150% — CFO Target Bonus (Annual bonus potential for Michael J. Scharff)
Key Players & Entities
- Everest Group, Ltd. (company) — Registrant
- Sarah L. Cooper (person) — Newly elected Director
- Michael J. Scharff (person) — Newly elected Director and Chief Financial Officer
- $650,000 (dollar_amount) — CFO's base salary
- 150% (dollar_amount) — CFO's target annual bonus percentage
- December 2, 2024 (date) — Effective date of director appointments and report date
FAQ
Who were the new directors elected to the Board of Directors?
Ms. Sarah L. Cooper and Mr. Michael J. Scharff were elected as new directors.
When were the new directors' appointments effective?
The appointments were effective as of December 2, 2024.
What is the base salary for the Chief Financial Officer?
The Chief Financial Officer, Mr. Michael J. Scharff, has a base salary of $650,000.
What is the target annual bonus for the CFO?
The target annual bonus for the CFO is 150% of his base salary.
What is the company's principal executive office address?
The principal executive offices are located at Seon Place – 4th Floor, 141 Front Street, Hamilton, Bermuda HM 19.
Filing Stats: 425 words · 2 min read · ~1 pages · Grade level 11.8 · Accepted 2024-12-03 16:19:16
Key Financial Figures
- $0.01 — change where registered Common Shares, $0.01 par value EG New York Stock Exchange
Filing Documents
- everestre-20241202.htm (8-K) — 23KB
- 0001095073-24-000051.txt ( ) — 150KB
- everestre-20241202.xsd (EX-101.SCH) — 2KB
- everestre-20241202_lab.xml (EX-101.LAB) — 23KB
- everestre-20241202_pre.xml (EX-101.PRE) — 13KB
- everestre-20241202_htm.xml (XML) — 3KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. EVEREST GROUP, LTD. By: /S/ ROBERT J. FREILING Robert J. Freiling Senior Vice President and Chief Accounting Officer Dated: December 3, 2024 EXHIBIT INDEX Exhibit Number Description of Document 104 Cover Page Interactive Data File (embedded within the Inline XBRL document