ProAssurance Corp: Board and Executive Compensation Changes
Ticker: PRA · Form: 8-K · Filed: May 22, 2024 · CIK: 1127703
| Field | Detail |
|---|---|
| Company | Proassurance Corp (PRA) |
| Form Type | 8-K |
| Filed Date | May 22, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Sentiment: neutral
Topics: governance, executive-compensation, board-changes
TL;DR
ProAssurance shakes up board, adjusts exec pay. Watch for strategy shifts.
AI Summary
ProAssurance Corporation announced on May 22, 2024, changes in its board of directors and executive compensation arrangements. The filing details the departure of certain officers and the election of new directors, alongside updates to compensatory arrangements for key executives.
Why It Matters
Changes in board composition and executive compensation can signal shifts in company strategy, governance, and future financial performance.
Risk Assessment
Risk Level: medium — Changes in leadership and compensation can indicate underlying strategic shifts or challenges within the company.
Key Players & Entities
- ProAssurance Corporation (company) — Registrant
- May 22, 2024 (date) — Date of earliest event reported
FAQ
What specific roles have seen departures or appointments?
The filing indicates the departure of certain officers and the election of new directors, though specific names and roles are not detailed in this excerpt.
What are the key items being reported in this 8-K?
The key items reported are the departure of directors or certain officers, election of directors, appointment of certain officers, and compensatory arrangements of certain officers, as well as submission of matters to a vote of security holders.
When was the earliest event reported in this filing?
The earliest event reported was on May 22, 2024.
What is ProAssurance Corporation's state of incorporation and fiscal year end?
ProAssurance Corporation is incorporated in Delaware and its fiscal year ends on December 31.
What is the primary business of ProAssurance Corporation?
ProAssurance Corporation is in the FIRE, MARINE & CASUALTY INSURANCE industry, SIC code 6331.
Filing Stats: 674 words · 3 min read · ~2 pages · Grade level 6.7 · Accepted 2024-05-22 16:15:32
Key Financial Figures
- $0.01 — ich registered Common Stock, par value $0.01 per share PRA New York Stock Exchange
Filing Documents
- pra-20240522.htm (8-K) — 36KB
- pra-20240522_g1.jpg (GRAPHIC) — 203KB
- 0001875246-24-000035.txt ( ) — 633KB
- pra-20240522.xsd (EX-101.SCH) — 2KB
- pra-20240522_lab.xml (EX-101.LAB) — 21KB
- pra-20240522_pre.xml (EX-101.PRE) — 12KB
- pra-20240522_htm.xml (XML) — 3KB
07 SUBMISSION OF MATTERS TO A VOTE OF SECURITY SHAREHOLDERS
ITEM 5.07 SUBMISSION OF MATTERS TO A VOTE OF SECURITY SHAREHOLDERS At the Annual Meeting of Stockholders of ProAssurance, held on May 22, 2023, our shareholders voted on three proposals with the following outcomes: a) Bruce D. Angiolillo, J.D., Richard J. Bielen, C.P.A. (new to board), Samuel A. DiPiazza, Jr., C.P.A., and Staci M. Pierce, J.D. (new to board) were elected to the Board and each will serve a three-year term ending at the Annual Meeting of Shareholders in 2027 and until their successors are elected and qualified. Voting was as follows: FOR WITHHELD Bruce D. Angiolillo, J.D. 38,451,274 4,360,259 Richard J. Bielen, C.P.A. 38,759,735 4,051,798 Samuel A. DiPiazza, Jr., C.P.A. 38,462,732 4,348,801 Staci M. Pierce, J.D. 38,715,447 4,096,086 b) The ProAssurance Corporation 2024 Equity Incentive Plan was approved by the following vote: FOR AGAINST ABSTAIN 41,366,281 1,383,623 61,629 c) The selection of Ernst & Young, LLP as our independent auditing firm for the fiscal year ending December 31, 2024 was ratified by the following vote: FOR AGAINST ABSTAIN 45,198,387 541,326 32,912 2 d) The 2023 compensation of our named executive officers was approved, on an advisory basis, by the following vote: FOR AGAINST ABSTAIN 36,404,470 6,348,151 58,912 There were a total of 2,961,092 broker non-votes on matters (b) and (d). SIGNATURE 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. Date: May 22, 2024 PROASSURANCE CORPORATION by: /s/ Jeffrey P. Lisenby ----------------------------------------------------- Jeffrey P. Lisenby General Counsel 3