Primerica Announces Board and Executive Compensation Changes
Ticker: PRI · Form: 8-K · Filed: Sep 24, 2024 · CIK: 1475922
| Field | Detail |
|---|---|
| Company | Primerica, Inc. (PRI) |
| Form Type | 8-K |
| Filed Date | Sep 24, 2024 |
| Risk Level | low |
| Pages | 3 |
| Reading Time | 3 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: governance, executive-compensation, board-changes
TL;DR
Primerica's board and exec comp got a shake-up on 9/23.
AI Summary
Primerica, Inc. announced on September 23, 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, or future performance expectations.
Risk Assessment
Risk Level: low — This filing primarily concerns corporate governance and executive compensation, which typically have a low direct impact on immediate financial risk.
Key Players & Entities
- Primerica, Inc. (company) — Registrant
- September 23, 2024 (date) — Date of earliest event reported
FAQ
What specific roles have seen departures or appointments?
The filing indicates "Departure of Directors or Certain Officers" and "Appointment of Certain Officers" but does not list specific names or roles within this summary section.
What are the key changes in compensatory arrangements?
The filing notes "Compensatory Arrangements of Certain Officers" but the specific details of these arrangements are not provided in the initial summary.
When was the earliest event reported in this 8-K filing?
The earliest event reported is dated September 23, 2024.
What is Primerica, Inc.'s fiscal year end?
Primerica, Inc.'s fiscal year ends on December 31.
What is the SIC code for Primerica, Inc.?
The Standard Industrial Classification (SIC) code for Primerica, Inc. is 6311, which corresponds to LIFE INSURANCE.
Filing Stats: 800 words · 3 min read · ~3 pages · Grade level 11.3 · Accepted 2024-09-24 16:23:53
Filing Documents
- pri-20240923.htm (8-K) — 56KB
- pri-ex99_1.htm (EX-99.1) — 13KB
- img164271198_0.jpg (GRAPHIC) — 2KB
- img164271198_1.jpg (GRAPHIC) — 43KB
- img186810224_0.jpg (GRAPHIC) — 13KB
- 0000950170-24-109087.txt ( ) — 288KB
- pri-20240923.xsd (EX-101.SCH) — 29KB
- pri-20240923_htm.xml (XML) — 4KB
02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers
Item 5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers. (b) On September 23, 2024, Gregory C. Pitts, Executive Vice President and Chief Operating Officer of Primerica, Inc. (the "Company"), informed the Company's Chief Executive Officer of Mr. Pitts' intention to retire on or about April 1, 2025. Mr. Pitts has been with the Company since 1985 and has served as Chief Operating Officer for over 14 years. Mr. Pitts will serve as an executive officer until December 31, 2024, will remain employed by the Company until his retirement, will provide transition support and work on special executive projects from October 1, 2024 until his retirement, and will cease serving as the Company's principal operating officer effective October 1, 2024. As of January 1, 2025, the Company's executive officers will consist of its Chief Executive Officer, President and Chief Financial Officer. (c) On September 24, 2024, the Board of Directors (the "Board") of the Company appointed Robert H. Peterman, Jr., age 59, as the Company's Executive Vice President and Chief Operating Officer, reporting to the Company's Chief Executive Officer, effective as of October 1, 2024. Mr. Peterman will serve as the Company's principal operating officer in such role, effective October 1, 2024. Mr. Peterman has served as Executive Vice President and Chief Distribution Officer of the Company since March 2023, as Executive Vice President and Chief Marketing Officer from June 2018 to March 2023 and as President of Primerica Distribution from December 2013 to June 2018, where he was responsible for recruiting, licensing, licensing education, field compensation, field equity, and decision support. In 2005, he became Executive Vice President and was given responsibility for the Company's Grow the Sales Force initiative. He also served as Chief Executive Officer of Primerica's New York Life Insurance Company from January 2017 to June 2018. Mr. Peterman j
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits. 99.1 Press Release dated September 24, 2024 – Primerica Names Robert H. Peterman, Jr. as Successor to Chief Operating Officer 104 Cover Page from this Current Report on Form 8-K, formatted in Inline XBRL
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. Date: September 24, 2024 PRIMERICA, INC. /s/ Stacey K. Geer Stacey K. Geer Executive Vice President and Chief Governance and Risk Officer