ProAssurance Corp. Files Definitive Proxy Statement

Ticker: PRA · Form: DEF 14A · Filed: Apr 12, 2024 · CIK: 1127703

Proassurance Corp DEF 14A Filing Summary
FieldDetail
CompanyProassurance Corp (PRA)
Form TypeDEF 14A
Filed DateApr 12, 2024
Risk Levellow
Pages16
Reading Time19 min
Key Dollar Amounts$0.01, $30 million, $1 billion, $80 million
Sentimentneutral

Sentiment: neutral

Topics: Proxy Statement, DEF 14A, ProAssurance Corp, Executive Compensation, Shareholder Meeting

TL;DR

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

AI Summary

PROASSURANCE CORP (PRA) filed a Proxy Statement (DEF 14A) with the SEC on April 12, 2024. Filing type: DEF 14A (Definitive Proxy Statement). Filing date: 2024-04-12. Reporting period: Fiscal year ending December 31, 2023. Company: PROASSURANCE CORP (PRA). Industry: FIRE, MARINE & CASUALTY INSURANCE [6331].

Why It Matters

For investors and stakeholders tracking PROASSURANCE CORP, this filing contains several important signals. This filing is a routine proxy statement, indicating the company is preparing for shareholder meetings and related corporate actions. The detailed financial and executive compensation data within the filing provides transparency for investors regarding the company's governance and performance.

Risk Assessment

Risk Level: low — PROASSURANCE CORP shows low risk based on this filing. The filing is a routine DEF 14A, which typically contains standard disclosures and does not present new material risks.

Analyst Insight

Review the executive compensation details and any proposals presented to shareholders in the proxy statement to understand management's incentives and key corporate decisions.

Key Numbers

  • 2024-04-12 — Filing Date (DEF 14A)
  • 2023-12-31 — Fiscal Year End (Reporting Period)
  • 6331 — SIC Code (FIRE, MARINE & CASUALTY INSURANCE)
  • 001-16533 — SEC File Number (DEF 14A)

Key Players & Entities

  • PROASSURANCE CORP (company) — Filer
  • PRA (company) — Ticker Symbol
  • 2024-04-12 (date) — Filing Date
  • 2023-12-31 (date) — Fiscal Year End
  • 100 BROOKWOOD PLACE (address) — Business Address
  • BIRMINGHAM (location) — Business City
  • AL (location) — Business State
  • 35209 (postal_code) — Business Zip

FAQ

When did PROASSURANCE CORP file this DEF 14A?

PROASSURANCE CORP filed this Proxy Statement (DEF 14A) with the SEC on April 12, 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 PROASSURANCE CORP (PRA).

Where can I read the original DEF 14A filing from PROASSURANCE CORP?

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 PROASSURANCE CORP.

What are the key takeaways from PROASSURANCE CORP's DEF 14A?

PROASSURANCE CORP filed this DEF 14A on April 12, 2024. Key takeaways: Filing type: DEF 14A (Definitive Proxy Statement).. Filing date: 2024-04-12.. Reporting period: Fiscal year ending December 31, 2023..

Is PROASSURANCE CORP a risky investment based on this filing?

Based on this DEF 14A, PROASSURANCE CORP presents a relatively low-risk profile. The filing is a routine DEF 14A, which typically contains standard disclosures and does not present new material risks.

What should investors do after reading PROASSURANCE CORP's DEF 14A?

Review the executive compensation details and any proposals presented to shareholders in the proxy statement to understand management's incentives and key corporate decisions. The overall sentiment from this filing is neutral.

How does PROASSURANCE CORP compare to its industry peers?

ProAssurance Corp. operates in the FIRE, MARINE & CASUALTY INSURANCE industry, a sector focused on underwriting various insurance policies.

Are there regulatory concerns for PROASSURANCE CORP?

As a publicly traded company, ProAssurance Corp. is subject to SEC regulations, including the requirement to file proxy statements (DEF 14A) for shareholder communication and corporate governance.

Industry Context

ProAssurance Corp. operates in the FIRE, MARINE & CASUALTY INSURANCE industry, a sector focused on underwriting various insurance policies.

Regulatory Implications

As a publicly traded company, ProAssurance Corp. is subject to SEC regulations, including the requirement to file proxy statements (DEF 14A) for shareholder communication and corporate governance.

What Investors Should Do

  1. Review the executive compensation section for details on CEO and other named executive officer pay.
  2. Examine any proposals being put forth to shareholders for voting.
  3. Note the company's fiscal year end and reporting period for context.

Key Dates

  • 2024-04-12: Filing of DEF 14A — Indicates the company is providing formal disclosure to shareholders regarding corporate governance and executive matters.

Year-Over-Year Comparison

This is a DEF 14A filing, which is a standard disclosure document. No specific comparative data from a previous filing was provided in the extracted text.

Filing Stats: 4,824 words · 19 min read · ~16 pages · Grade level 10.4 · Accepted 2024-04-12 16:16:38

Key Financial Figures

  • $0.01 — d shares of our common stock, par value $0.01 per share ("Common Stock"). Of that amo
  • $30 million — , she guided the company from less than $30 million to nearly $1 billion in annual sales. S
  • $1 billion — ny from less than $30 million to nearly $1 billion in annual sales. She continues to overs
  • $80 million — ic institution that has invested nearly $80 million in the Greater Birmingham region, and o

Filing Documents

From the Filing

pra-20240412 SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 14A (RULE 14a-101) INFORMATION REQUIRED IN PROXY STATEMENT SCHEDULE 14A INFORMATION PROXY STATEMENT PURSUANT TO SECTION 14(a) OF THE SECURITIES EXCHANGE ACT OF 1934 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 pursuant to Rule 14a-11(c) or Rule 14a-12 ProAssurance 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)(1) and 0-11 The filing fee of $ was calculated on the basis of the information that follows: 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: PROASSURANCE CORPORATION 100 Brookwood Place Birmingham, Alabama 35209 NOTICE OF ANNUAL MEETING OF STOCKHOLDERS to be held May 22, 2024 To our Stockholders: The Annual Meeting of Stockholders of ProAssurance Corporation ("ProAssurance") will be held at 9:00 a.m., Central Daylight Time, on Wednesday, May 22, 2024, in the O'Neil Multimedia Room at the headquarters of ProAssurance, located at 100 Brookwood Place, Birmingham, Alabama 35209, for the following purposes: (1) To elect four (4) directors of ProAssurance as Class II directors to serve until the 2027 annual meeting, and until their successors are elected and qualified; (2) To approve the ProAssurance Corporation 2024 Equity Incentive Plan; (3) To ratify the appointment of Ernst & Young LLP as independent auditors; (4) An advisory vote to approve the compensation of our named executive officers disclosed in this proxy statement; (5) To transact such other business as may properly come before the annual meeting or any adjournment or postponement thereof. The Board of Directors set March 25, 2024, as the record date for the annual meeting. You are entitled to notice of, and to vote at, the annual meeting only if you were a holder of record of shares of ProAssurance's Common Stock at the close of business on the record date. The stock transfer books will not be closed. We may adjourn the annual meeting without notice other than announcement at the meeting or adjournments thereof, and any business for which notice is hereby given may be transacted at any such adjournment. We have provided details concerning those matters to come before the annual meeting in the accompanying proxy statement. Whether you plan to attend the annual meeting or not, please vote your shares in accordance with the instructions provided with these materials. Voting your shares by proxy does not deprive you of your right to attend the annual meeting and to vote your shares in person. A copy of ProAssurance's Annual Report to the Stockholders for the year ended December 31, 2023, accompanies our proxy materials and is also available in the "Investor Relations" section of our website at Investor.ProAssurance.com. We hope you will find it informative. By order of the Board of Directors, Jeffrey P. Lisenby Secretary April 12, 2024 PROASSURANCE CORPORATION 100 Brookwood Place Birmingham, Alabama 35209 PROXY STATEMENT Annual Meeting of Stockholders to be held May 22, 2024 INTRODUCTION We are furnishing this proxy statement and proxy card to the stockholders of ProAssurance Corporation, which we sometimes refer to as "ProAssurance" or the "Company," on behalf of ProAssurance's Board of Directors on or about April 12, 2024. Our Board of Directors is soliciting your proxy to vote your shares at the Annual Meeting of ProAssurance's Stockholders to be held at 9:00 a.m., Central Daylight Time, on Wednesday, May 22, 2024, in the O'Neil Multimedia Room of our headquarters located at 100 Brookwood Place, Birmingham, Alabama 35209, or at any adjournment or postponement thereof. What is a proxy? A proxy is a person or persons whom you designate to vote your stock. If you designate someone as y

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