Mercury General Corp Files Definitive Proxy Statement

TL;DR

<b>Mercury General Corp has filed its Definitive Proxy Statement for the fiscal year ending December 31, 2023.</b>

AI Summary

MERCURY GENERAL CORP (MCY) filed a Proxy Statement (DEF 14A) with the SEC on March 26, 2024. Filing type: DEF 14A (Definitive Proxy Statement). Reporting period: Fiscal year ending December 31, 2023. Filed as of date: March 26, 2024. Company SIC code: 6331 (Fire, Marine & Casualty Insurance). Incorporated in: California.

Why It Matters

For investors and stakeholders tracking MERCURY GENERAL CORP, this filing contains several important signals. This filing provides detailed information to shareholders regarding the company's governance, executive compensation, and matters to be voted on at the upcoming annual meeting. As a DEF 14A filing, it is a crucial document for investors to understand the company's operational and financial direction, as well as executive decision-making processes.

Risk Assessment

Risk Level: low — MERCURY GENERAL CORP shows low risk based on this filing. The filing is a routine proxy statement and does not contain new financial results or significant strategic changes, indicating a stable operational status.

Analyst Insight

Review the proxy statement for details on executive compensation, board nominations, and any shareholder proposals to inform voting decisions.

Key Numbers

• 2023-12-31 — Fiscal Year End (Reporting period)
• 2024-03-26 — Filing Date (Date of submission)
• 2024-05-08 — Period of Report (Date for which the report is effective)
• 001-12257 — SEC File Number (SEC filing identifier)

Key Players & Entities

• MERCURY GENERAL CORP (company) — Filer name
• 0000064996 (company) — Central Index Key
• 6331 (company) — Standard Industrial Classification
• CA (company) — State of Incorporation
• 2024-03-26 (date) — Filing date
• 2024-05-08 (date) — Period of report
• 2023-12-31 (date) — Fiscal year end
• 2139371060 (company) — Business phone

FAQ

Industry Context

Mercury General Corp operates in the Fire, Marine & Casualty Insurance industry, providing various insurance products.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, requiring public companies to disclose information to shareholders.

What Investors Should Do

1. Review executive compensation details for key personnel.
2. Examine board member nominations and qualifications.
3. Analyze any shareholder proposals and the company's recommendation.

Key Dates

• 2024-03-26: Filing Date — Submission of the Definitive Proxy Statement
• 2024-05-08: Period of Report — Effective date for the proxy statement's reporting scope

Year-Over-Year Comparison

This is a DEF 14A filing, which is a standard proxy statement, and does not represent a change from previous filings of this type.

Filing Documents

• mcy-20240325.htm (DEF 14A) — 461KB
• mcy-20240325_g1.jpg (GRAPHIC) — 17KB
• mcy-20240325_g2.jpg (GRAPHIC) — 11KB
• mcy-20240325_g3.jpg (GRAPHIC) — 24KB
• mcy-20240325_g4.jpg (GRAPHIC) — 25KB
• mcy-20240325_g5.jpg (GRAPHIC) — 28KB
• mcy-20240325_g6.jpg (GRAPHIC) — 55KB
• mcy-20240325_g7.jpg (GRAPHIC) — 79KB
• mcy-20240325_g8.jpg (GRAPHIC) — 130KB
• 0000064996-24-000014.txt (&nbsp;) — 1967KB
• mcy-20240325.xsd (EX-101.SCH) — 3KB
• mcy-20240325_def.xml (EX-101.DEF) — 3KB
• mcy-20240325_lab.xml (EX-101.LAB) — 4KB
• mcy-20240325_pre.xml (EX-101.PRE) — 2KB
• mcy-20240325_htm.xml (XML) — 127KB

From the Filing

mcy-20240325 SCHEDULE 14A INFORMATION Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No. ) Filed by the Registrant Filed by a Party other than the Registrant Check the appropriate box: Preliminary Proxy Statement Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) Definitive Proxy Statement Definitive Additional Materials Soliciting Material under Rule 14a-12 Mercury General Corporation (Name of Registrant As Specified In Its Charter) (Name of Person(s) Filing Proxy Statement if Other Than the Registrant) Payment of Filing Fee (Check the appropriate box): No Fee required Fee computed on table below per Exchange Act Rules 14a-6(i)(4) and 0-11. (1) Title of each class of securities to which transaction applies: (2) Aggregate number of securities to which transaction applies: (3) Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (Set forth the amount on which the filing fee is calculated and state how it was determined): (4) Proposed maximum aggregate value of transaction: (5) Total fee paid: Fee paid previously with preliminary materials. Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing. (1) Amount Previously Paid: (2) Form, Schedule or Registration Statement No.: (3) Filing Party: (4) Date Filed: 4484 Wilshire Boulevard Los Angeles, California 90010 NOTICE OF ANNUAL MEETING OF SHAREHOLDERS AND PROXY STATEMENT To The Shareholders of Mercury General Corporation Notice is hereby given that the Annual Meeting of Shareholders of MERCURY GENERAL CORPORATION (the "Company") will be held at the corporate headquarters of the Company located at 4484 Wilshire Boulevard, Los Angeles, California on May 8, 2024 at 10:00 a.m., for the following purposes: 1. To elect nine directors for the ensuing year to serve until the next Annual Meeting of Shareholders and until their successors are elected and have qualified; 2. To consider an advisory vote on executive compensation; and 3. To ratify the selection of KPMG LLP as the independent registered public accounting firm for the Company for the fiscal year ending December 31, 2024. The Board of Directors has fixed the close of business on March 13, 2024 as the record date for the determination of shareholders entitled to notice of and to vote at the meeting. Accompanying this Notice of Annual Meeting is a proxy. WHETHER OR NOT YOU EXPECT TO BE AT THE MEETING, PLEASE COMPLETE, SIGN AND DATE THE ENCLOSED PROXY AND RETURN IT PROMPTLY. BY ORDER OF THE BOARD OF DIRECTORS, Judy A. Walters, Secretary Los Angeles, California March 26, 2024 MERCURY GENERAL CORPORATION 4484 Wilshire Boulevard Los Angeles, California 90010 PROXY STATEMENT The Board of Directors of the Company is soliciting the enclosed proxy for use at the Annual Meeting of Shareholders of the Company to be held at 10:00 a.m. May 8, 2024, at the corporate headquarters of the Company located at 4484 Wilshire Boulevard, Los Angeles, California. This Proxy Statement was first furnished to shareholders on or about March 26, 2024. All shareholders who find it convenient to do so are cordially invited to attend the meeting in person. In any event, please complete, sign, date and return the proxy in the enclosed envelope. A proxy may be revoked by written notice to the Secretary of the Company at any time prior to the voting of the proxy, or by executing a later proxy or by attending the meeting and voting in person. Unrevoked proxies will be voted in accordance with the instructions indicated in the proxies, or if there are no such instructions, such proxies will be voted FOR the election of the Board of Directors' nominees for director; FOR the proposal regarding an advisory vote on executive compensation; FOR the ratification of the selection of KPMG LLP as the independent registered public accounting firm for the Company for the fiscal year ending December 31, 2024; and every ONE YEAR in response to the proposal regarding an advisory vote on the frequency of future advisory votes on executive compensation. Shares represented by proxies that reflect abstentions or include "broker non-votes" will be treated as present and entitled to vote for purposes of determining the presence of a quorum. Shareholders of record at the close of business on March 13, 2024 will be entitled to vote at the meeting. As of that date, 55,371,127 shares of common stock, without par value ("Common Stock"), of the Company were outstanding. Each share of Common Stock is entitled to one vote. A majority of the outstanding shares of the Company, represented in person or by proxy at the meeting, constitutes a quorum. The costs of prepari

View Full Filing

View this DEF 14A filing on SEC EDGAR