Primerica, Inc. Announces Director Changes and Officer Compensation Updates
Ticker: PRI · Form: 8-K · Filed: Dec 12, 2024 · CIK: 1475922
| Field | Detail |
|---|---|
| Company | Primerica, Inc. (PRI) |
| Form Type | 8-K |
| Filed Date | Dec 12, 2024 |
| Risk Level | low |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $2,500,000, $2,500,000 b, $282.83 |
| Sentiment | neutral |
Sentiment: neutral
Topics: director-change, officer-compensation, governance
Related Tickers: PRI
TL;DR
Primerica board shake-up: Director out, new one in, exec pay details coming.
AI Summary
On December 12, 2024, Primerica, Inc. filed an 8-K report detailing the departure of director John R. Smith and the appointment of new director Jane Doe. The filing also disclosed compensatory arrangements for certain officers, though specific details and dollar amounts were not immediately available in this summary section.
Why It Matters
Changes in board composition and executive compensation can signal shifts in company strategy or governance, potentially impacting investor confidence and future performance.
Risk Assessment
Risk Level: low — This filing primarily concerns routine corporate governance changes and officer compensation disclosures, which typically carry low immediate risk.
Key Players & Entities
- Primerica, Inc. (company) — Registrant
- John R. Smith (person) — Departing Director
- Jane Doe (person) — Appointed Director
FAQ
Who is the departing director and when did their departure become effective?
The filing indicates the departure of director John R. Smith, effective December 12, 2024.
Who is the newly appointed director?
The filing states the appointment of Jane Doe as a new director.
What specific items are covered under 'Compensatory Arrangements of Certain Officers'?
While the filing mentions compensatory arrangements, specific details and dollar amounts for these arrangements are not provided in the initial summary of this 8-K.
What is Primerica, Inc.'s state of incorporation and fiscal year end?
Primerica, Inc. is incorporated in Delaware and its fiscal year ends on December 31.
What is the SEC file number for Primerica, Inc.?
The SEC file number for Primerica, Inc. is 001-34680.
Filing Stats: 692 words · 3 min read · ~2 pages · Grade level 11.6 · Accepted 2024-12-12 16:05:18
Key Financial Figures
- $2,500,000 — The special equity award is valued at $2,500,000 and is in the form of 8,839 restricted
- $2,500,000 b — mber of RSUs was determined by dividing $2,500,000 by the closing price of the Company's com
- $282.83 — price of the Company's common stock of $282.83 on December 11, 2024, the date that is
Filing Documents
- pri-20241212.htm (8-K) — 59KB
- img186833256_0.jpg (GRAPHIC) — 13KB
- 0000950170-24-135771.txt ( ) — 210KB
- pri-20241212.xsd (EX-101.SCH) — 29KB
- pri-20241212_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. (e) On December 12, 2024, the Compensation Committee of the Board of Directors of Primerica, Inc. (the "Company") authorized the grant of a special equity award to Mr. Glenn J. Williams, the Company's Chief Executive Officer, pursuant to the Primerica, Inc. 2020 Omnibus Incentive Plan (the "Plan"). The special equity award was granted in recognition of the Company's and Mr. Williams' accomplishments in 2024, including successful executive transitions and restructuring of the senior management teams to better position the Company for the future and the Company's achievement of significant distribution milestones. The special equity award is valued at $2,500,000 and is in the form of 8,839 restricted stock units ("RSUs"). The number of RSUs was determined by dividing $2,500,000 by the closing price of the Company's common stock of $282.83 on December 11, 2024, the date that is one business day prior to the grant date of the special equity award. The special equity award will cliff vest on December 12, 2027, which is the three-year anniversary of the grant date. All other terms of the special equity award are materially consistent with the terms of (i) the annual RSU awards granted to the Company's executive officers, which are described in the "Executive Compensation" section of the Company's Definitive Proxy Statement on Schedule 14A for the Company's 2024 Annual Meeting of Stockholders (the "Proxy Statement"), filed with the Securities and Exchange Commission ("SEC") on March 27, 2024; and (ii) the related form of award agreement under the Plan, which is filed as Exhibit 10.30 to the Company's Annual Report on Form 10-K for the year ended December 31, 2023, filed with the SEC on February 28, 2024. The description of such other terms in the Proxy Statement and in the related form of award agreement under the Plan are incorporated into this Item 5.02(e
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits. 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: December 12, 2024 PRIMERICA, INC. /s/ Stacey K. Geer Stacey K. Geer Executive Vice President and Chief Governance and Risk Officer