Safety Insurance Group Inc. Files Definitive Proxy Statement (DEF 14A)

TL;DR

<b>Safety Insurance Group Inc. has filed its Definitive Proxy Statement (DEF 14A) for the period ending May 15, 2024.</b>

AI Summary

SAFETY INSURANCE GROUP INC (SAFT) filed a Proxy Statement (DEF 14A) with the SEC on April 2, 2024. Filing is a Definitive Proxy Statement (DEF 14A) for Safety Insurance Group Inc. The filing covers the period ending May 15, 2024. The company's fiscal year ends on December 31. Safety Insurance Group Inc. is incorporated in Delaware. The company's principal business address is 20 Custom House Street, Boston, MA.

Why It Matters

For investors and stakeholders tracking SAFETY INSURANCE GROUP INC, this filing contains several important signals. This filing is crucial for shareholders as it outlines important information regarding upcoming shareholder meetings, voting matters, and executive compensation. Understanding the details within the DEF 14A allows investors to make informed decisions about company governance and strategic direction.

Risk Assessment

Risk Level: low — SAFETY INSURANCE GROUP INC shows low risk based on this filing. The filing is a routine DEF 14A, providing standard disclosures without immediate financial or operational performance indicators.

Analyst Insight

Review the proxy statement for details on shareholder proposals, director elections, and executive compensation to understand potential impacts on company strategy and governance.

Key Numbers

• 2024-05-15 — Reporting Period End Date (Conformed period of report)
• 2024-04-02 — Filing Date (Filed as of date)
• 1231 — Fiscal Year End (Fiscal year end)
• 000-50070 — SEC File Number (SEC file number)

Key Players & Entities

• SAFETY INSURANCE GROUP INC (company) — Filer name
• 2024-05-15 (date) — Conformed period of report
• 2024-04-02 (date) — Filed as of date
• DE (jurisdiction) — State of incorporation
• 20240402 (date) — Date as of change
• 20 CUSTOM HOUSE STREET (address) — Business address street 1
• BOSTON (location) — Business address city
• MA (location) — Business address state

FAQ

Industry Context

Safety Insurance Group Inc. operates within the fire, marine, and casualty insurance industry.

Regulatory Implications

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

What Investors Should Do

1. Review executive compensation details and any proposed changes.
2. Examine director nominations and voting recommendations.
3. Identify any shareholder proposals and the company's stance.

Year-Over-Year Comparison

This is a DEF 14A filing, which is a standard disclosure document for annual shareholder meetings and does not inherently represent a change from previous filings of the same type.

Key Financial Figures

• $0.01 — f the Company's common stock, par value $0.01 per share (the "Common Stock"), were ou
• $20 billion — Risk Solutions, where he led Liberty's $20 billion global commercial (re) insurance busine

Filing Documents

• saft-20240515xdef14a.htm (DEF 14A) — 1444KB
• saft-20240515xdef14a_a001.jpg (GRAPHIC) — 9KB
• saft-20240515xdef14a_a002.jpg (GRAPHIC) — 4KB
• saft-20240515xdef14a_a006.jpg (GRAPHIC) — 7KB
• saft-20240515xdef14a_a011.jpg (GRAPHIC) — 63KB
• saft-20240515xdef14a_a012.jpg (GRAPHIC) — 111KB
• saft-20240515xdef14a_a013.jpg (GRAPHIC) — 19KB
• saft-20240515xdef14a_a025.jpg (GRAPHIC) — 27KB
• saft-20240515xdef14a_a026.jpg (GRAPHIC) — 28KB
• saft-20240515xdef14a_a027.jpg (GRAPHIC) — 23KB
• saft-20240515xdef14a_a028.jpg (GRAPHIC) — 25KB
• saft-20240515xdef14a_a029.jpg (GRAPHIC) — 22KB
• saft-20240515xdef14a_a030.jpg (GRAPHIC) — 23KB
• saft-20240515xdef14a_bg001.jpg (GRAPHIC) — 119KB
• saft-20240515xdef14a_bg002.jpg (GRAPHIC) — 99KB
• 0001172052-24-000014.txt (&nbsp;) — 4178KB
• saft-20240515.xsd (EX-101.SCH) — 6KB
• saft-20240515_def.xml (EX-101.DEF) — 9KB
• saft-20240515_lab.xml (EX-101.LAB) — 14KB
• saft-20240515_pre.xml (EX-101.PRE) — 7KB
• saft-20240515xdef14a_htm.xml (XML) — 522KB

EXECUTIVE COMPENSATION

EXECUTIVE COMPENSATION 19 Compensation Discussion and Analysis 19 Compensation Committee Report 31 Compensation Policies and Practices as They Relate to the Company's Risk Management 32 Summary Compensation Table 33 Grants of Plan-Based Awards 34 Outstanding Equity Awards at Fiscal Year-End 36 Restricted Stock Vested 37 Pension Benefits Table 37 Nonqualified Deferred Compensation 38 Potential Payments Upon Termination or Change in Control 39 DIRECTOR COMPENSATION 43 REPORT OF THE AUDIT COMMITTEE 44

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS, DIRECTORS AND MANAGEMENT

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS, DIRECTORS AND MANAGEMENT 45 COMPENSATION COMMITTEE INTERLOCKS AND INSIDER PARTICIPATION 46 PAY RATIO 47 CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS 51 OTHER MATTERS 52 Table of Contents SAFETY INSURANCE GROUP, INC. 20 Custom House Street, Boston, Massachusetts 02110 PROXY STATEMENT FOR ANNUAL MEETING OF STOCKHOLDERS TO BE HELD MAY 15, 2024 GENERAL INFORMATION This Proxy Statement is being furnished in connection with the solicitation of proxies on behalf of the Board of Directors (the "Board") of Safety Insurance Group, Inc. (the "Company" or "Safety" or "we") for the 2024 Annual Meeting of Stockholders to be held on May 15, 2024 at the Company's headquarters located at 20 Custom House Street, Boston, Massachusetts 02110 (the "2024 Annual Meeting"). The record date for determining stockholders entitled to vote at the 2024 Annual Meeting has been fixed at the close of business on March 18, 2024 (the "Record Date"). As of the Record Date, 14,836,665 shares of the Company's common stock, par value $0.01 per share (the "Common Stock"), were outstanding and entitled to be voted. Every stockholder will be entitled to one vote for each share of Common Stock recorded in his or her name on the Company's books as of the Record Date. The Company mailed this Proxy Statement and the related form of proxy (the "Proxy") on or about April 2, 2024. If you timely return a validly executed proxy card without indicating how your shares should be voted on a matter and you do not revoke your proxy, your proxy will be voted in accordance with the Board's recommendation as follows: Board Item Description Recommendation Page 1 Election of three Class I directors FOR the Board's Nominees 3 2 Ratification of Appointment of Deloitte & Touche LLP as the Company's Independent Registered Public Accounting Firm FOR 14 3 Advisory Vote on Executive Compensation FOR 16 With respect to Propo

: Gender Identify

Part I: Gender Identify Directors 3 5 - -

: Demographic Background

Part II: Demographic Background African American or Black 1 - - - Alaskan Native or Native American 0 - - - Asian 0 - - - Hispanic or Latino 0 - - - Native Hawaiian or Pacific Islander 0 - - - White 2 5 - - Two or More Races or Ethnicities 0 - - - LGBTQ+ 1 - - - Meetings of the Board of Directors During 2023, the following meetings of the Board were held: five meetings of the Board, four meetings of the Audit Committee, four meetings of the Compensation Committee, four meetings of the Nominating and Governance Committee and four meetings of the Investment Committee. All of the incumbent Directors 8 Table of Contents attended 100% of the Board and committee meetings held while they were members during 2023. The directors also gathered throughout the year for less formal business updates and provided input to management. At each quarterly meeting of the Board, the non-executive directors held an executive session without management present. Board Leadership Structure The positions of Chairman of the Board and Chief Executive Officer are held by Mr. George M. Murphy. As the Chairman of the Board, Mr. Murphy provides leadership to the Board and works with the Board to define its str

View Full Filing

View this DEF 14A filing on SEC EDGAR