1. To electJohn J.Amore,Juan C.Andrade,WilliamF. Galtney,Jr.,John A.Graf, MerylHartzband,Gerri Losquadro,HazelMcNeilage,RogerM.SingerandJosephV.Tarantoasdirectors |
Age: 74 DirectorSince:September19,2012Independent Committees: • Audit • Compensation(Chairman) • NominatingandGovernance • Risk |
Age: 57 DirectorSince:February26,2020Non-Independent Committees: • Investment Policy • Risk • Executive Qualifications |
• Executive | |||
Age: 70 DirectorSince:March12,1996Independent Committees: • Audit • Compensation • Executive • Nominatingand Governance(Chairman) • Risk a |
Age: 63 Director Since: May 18, 2016 Independent Committees : •Audit •Compensation •Nominating andGovernance •Investment Policy (Chairman) |
Age: 68 Director Since: May 23, 2019 Independent Committees: •Audit (Chairwoman) •Compensation •Investment Policy •Nominating andGovernance |
Age: 72 Director Since: May 14, 2014 Independent Committees : • Audit •Compensation •Nominating andGovernance •Risk (Chairwoman) |
Age: 76 Director Since: February 24, 2010 Lead IndependentDirector Committees : • Audit •Compensation •Nominating andGovernance |
Age: 74 Director Since: March 12, 1996 Non-Independent Committees : • Executive •Investment Policy |
Name | Audit | Compensation | Executive | Investment Policy | Nominating and Governance | Underwriting Committee | Independent |
John J. Amore | X | Chair | X | X | X | ||
Juan C. Andrade | X | X | X | ||||
William F. Galtney, Jr. | X | X | X | Chair | X | X | |
John A. Graf | X | X | X | X | X | ||
Meryl Hartzband | X | X | X | X | X | ||
Gerri Losquadro | X | X | X | Chair | X | ||
Roger M. Singer | Chair | X | X | X | |||
Joseph V. Taranto | X | X | |||||
John A. Weber | X | X | X | X | X | X | |
Meetings | 4 | 4 | 0 | 4 | 4 | 4 | |
to Item404(a) |
2020 | 2019 | |||||||
Audit Fees(1) | $ | 6,074,428 | $ | 6,210,780 | ||||
Audit-Related Fees(2) | 309,100 | 325,950 | ||||||
Tax Fees(3) | 691,000 | 652,000 | ||||||
All Other Fees(4) | 26,000 | 25,000 | ||||||
2022 2021 AuditFees (1) $6,719,687 $6,439,802 Audit-RelatedFees (2) 587,563 610,138 Tax |
Name of Beneficial Owner | Amount and Nature of Beneficial Ownership | Percent of Class(13) | ||
John J. Amore | 20,315 | (1) | * | |
William F. Galtney, Jr. | 72,531 | (2) | * | |
John A. Graf | 13,075 | (3) | * | |
Meryl Hartzband | 5,704 | (4) | * | |
Gerri Losquadro | 11,972 | (5) | * | |
Roger M. Singer | 15,937 | (6) | * | |
Joseph V. Taranto | 310,342 | (7) | * | |
John A. Weber | 15,100 | (8) | * | |
Juan C. Andrade | 48,974 | (9) | * | |
John P. Doucette | 26,552 | (10) | * | |
Mark Kociancic | 25,100 | (11) | * | |
Sanjoy Mukherjee | 41,548 | (12) | * | |
All directors, nominees and executive officers as a group (12 persons) | 607,150 | 1.3 | ||
Name of Beneficial Owner AmountandNatureof Beneficial Ownership Percent ofClass (14) John J. Amore 22,298 (1) * WilliamF.Galtney,Jr. 63,170 (2) * John A.Graf 14,059 (3) * MerylHartzband 8,595 (4) * GerriLosquadro 12,955 (5) * Hazel McNeilage 1,377 (6) * RogerM.Singer 16,420 (7) * JosephV.Taranto 311,731 (8) * Juan C.Andrade 54,427 (9) * MikeKarmilowicz 10,551 (10) * MarkKociancic 26,882 (11) * SanjoyMukherjee 43,871 (12) * Jim Williamson 11,695 (13) * All directors, nominees and executive officers as a group (13 persons) 598,031 1.4 * Less than 1% (1) Includes 2,050 restrictedshares issued to Mr.Amore under the Company’s2003 Non-Employee DirectorEquity CompensationPlan (“2003 DirectorsPlan”)whichmay notbe soldor transferreduntilthe vestingrequirementsare satisfied. (2) Includes34,106 sharesowned byvarious familyrelated investmentsin whichMr. Galtneymaintainsa beneficialownership andfor whichhe serves as theGeneral Partner.Also includes2,050 restrictedshares issuedto Mr. Galtneyunder the 2003Directors Planwhich maynot be soldor transferreduntilthe vestingrequirementsare satisfied. (3) Includes 2,050 restricted shares issued to Mr. Graf under the 2003 Directors |
Name and Address of Beneficial Owner | Number of Shares Beneficially Owned | Percent of Class | ||
Everest International Reinsurance, Ltd. | 9,719,971 | (1) | 19.6% | |
Seon Place, 141 Front Street, 4th Floor | ||||
Hamilton HM 19, Bermuda | ||||
The Vanguard Group | 4,333,686 | (2) | 8.7% | |
100 Vanguard Boulevard | ||||
Malvern, Pennsylvania 19355 | ||||
BlackRock, Inc. | 3,568,906 | (3) | 7.2% | |
55 East 52nd Street | ||||
New York, New York 10055 | ||||
Change in | ||||||||||||||||||||||||||||
Pension Value | ||||||||||||||||||||||||||||
and Nonqualified | ||||||||||||||||||||||||||||
Fees | Non-Equity | Deferred | ||||||||||||||||||||||||||
Earned or | Share | Option | Incentive Plan | Compensation | All Other | |||||||||||||||||||||||
Name | Paid in Cash(1) | Awards(2) | Awards(3) | Compensation | Earnings | Compensation(4) | Total | |||||||||||||||||||||
Dominic J. Addesso | $ | 45,330 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 45,330 | ||||||||||||||
John J. Amore | 125,000 | 325,091 | — | — | — | 16,573 | 466,664 | |||||||||||||||||||||
William F. Galtney, Jr. | 125,000 | 325,091 | — | — | — | 16,573 | 466,664 | |||||||||||||||||||||
John A. Graf | 125,000 | 325,091 | — | — | — | 10,997 | 461,088 | |||||||||||||||||||||
Meryl Hartzband | 125,000 | 325,091 | — | — | — | 16,573 | 466,664 | |||||||||||||||||||||
Gerri Losquadro | 125,000 | 325,091 | — | — | — | 16,573 | 466,664 | |||||||||||||||||||||
Roger M. Singer | 125,000 | 325,091 | — | — | — | 26,573 | 476,664 | |||||||||||||||||||||
Joseph V. Taranto(5) | 375,000 | 325,091 | — | — | — | 16,573 | 716,664 | |||||||||||||||||||||
John A. Weber | 125,000 | 325,091 | — | — | — | 26,573 | 476,664 | |||||||||||||||||||||
Name Fees Earned or Paidin Cash (1) Share Awards (2) Option Awards (3) Non-Equity Incentive Plan Compensation Changein PensionValue and Nonqualified Deferred Compensation Earnings AllOther Compensation (4) Total John J. Amore $125,000 $325,663 — — — $15,665 $466,328 WilliamF.Galtney,Jr. $125,000 $325,663 — — — $15,665 $466,328 John A.Graf $125,000 $325,663 — — — $15,665 $466,328 MerylHartzband $125,000 $325,663 — — — $16,079 $466,742 GerriLosquadro $125,000 $325,663 — — — $15,665 $466,328 RogerM.Singer $125,000 $325,663 — — — $25,665 $476,328 JosephV.Taranto (5) $425,000 $325,663 — — — $15,665 $766,328 John A.Weber $125,000 $325,663 — — — $25,665 $476,328 (1) FortheirBoardservicesin 2022,all ofthe directorselectedto receivetheircompensationin cashexceptfor Ms.Hartzbandand Mr.Graf,who each received444 sharesin compensationfor theirservices. (2) The amountshownis theaggregategrantdate fairvalueof the2022 grantcomputedin accordancewith FinancialAccountingStandardsBoard StatementAccountingStandardsCodificationTopic718 (“FASBASC Topic718”)calculatedby multiplyingthe numberof sharesby thefair market value(the averageof thehigh andlow ofthe Company’sstockpriceon theNYSEon thedateof grant)(“FMV”).Each ofthe Non-EmployeeDirectors was awarded1,131restrictedshareson February24,2022at FMVof $287.9425. (3) In July2022,Mr.Amoreexercised454 optionawardswhichhad beenawardedto himuponhis appointmentto theBoardin September2022. (4) Dividendspaid oneach director’srestrictedshares.For Mr.Singerand Mr.Weber,also includes$10,000in directorfees formeetingsattendedas directorsof both BermudaRe and InternationalRe. (5) Mr. Taranto’s compensation reflects his salary and share awards received as a non-executive employee of Everest Global. 6 |
billion from $13 billion in 2021. • TheCompanyearned$1,065millioninafter-taxoperatingincome 7 representinga 10.6%aftertaxoperatingreturn on equity (“ROE”) 8 • The Company returned $316 million in capital to shareholders during 2022 as follows: – We paid quarterly dividends totaling $255 million in 2022. – We returned $61 million to shareholders through share repurchases. 7 |
2023 ProxyStatement 53 Componentsof theCompany’sCompensationProgram Componentsof ExecutiveCompensation Short Term CompensationComponent Description KeyFeatures Fixedcomponentof compensationintendedto attract andretain top talent Generallypositionednearthe medianof ourpay levelpeer group, butvarieswithindividualskills, experience,responsibilitiesand performance At - Risk Pay Performancegoals | ||
2020 INCENTIVE-BASED BONUS TARGETS AND AWARDS | ||||||||||||||||
Named Executive Officer | Target Incentive Bonus (% Base Salary) | Target Incentive Bonus | Potential Maximum Incentive Bonus | Actual Bonus Award | ||||||||||||
Juan C. Andrade CEO | 200 | % | $ | 2,500,000 | $ | 3,500,000 | $ | 2,500,000 | ||||||||
John P. Doucette President and CEO of the Reinsurance Division | 130 | % | $ | 1,137,500 | $ | 1,750,000 | $ | 820,000 | ||||||||
Sanjoy Mukherjee Executive Vice President, General Counsel & Secretary | 120 | % | $ | 734,400 | $ | 1,224,000 | $ | 700,000 | ||||||||
Craig Howie Former Executive Vice President, Chief Financial Officer | 100 | % | $ | 571,200 | $ | 1,142,400 | $ | 350,000 | ||||||||
TOTAL | $ | 4,943,100 | $ | 7,616,400 | $ | 4,370,000 |
NAMED EXECUTIVE OFFICERS13 | ||||
Target Award | Juan C. Andrade | John Doucette | Sanjoy Mukherjee | Craig Howie |
2018 PSU | 1,825 | 1,140 | 925 | |
2019 PSU | 1,980 | 1,290 | 1,005 | |
2020 PSU | 6,770 | 1,895 | 1,150 | 825 |
2018 PSU TARGET MEASURES | |||||||
Award Multiplier | |||||||
Weight | Performance Year | Target ROE | 0% | 25% | 100% | 175% | |
Operating ROE | 50.0% | ||||||
2018 | 11% | <4% | 4% | 11% | >=16% | ||
2019 | 12.2% | <5.2% | 5.2% | 12.2% | >=17.2% | ||
2020 | 11.1% | <4.1% | 4.1% | 11.1% | >=16.1% | ||
Award Multiplier | |||||||
Weight | Performance Period | Target | 0.0% | 25% | 100% | 175% | |
3Yr Relative Change in BVPS to Peers | 50.0% | 2018 - 2020 | Median | <26th%tile | 26th%tile | Median | >=75th%tile |
2019 PSU TARGET MEASURES | |||||||
Award Multiplier | |||||||
Weight | Performance Year | Target ROE | 0% | 25% | 100% | 175% | |
Operating ROE | 60.0% | ||||||
2019 | 12.2% | <5.2% | 5.2% | 12.2% | >=17.2% | ||
2020 | 11.1% | <4.1% | 4.1% | 11.1% | >=16.1% | ||
Award Multiplier | |||||||
Weight | Performance Period | Target | 0.0% | 25% | 100% | 175% | |
3Yr Relative Change in BVPS to Peers | 40.0% | 2019 - 2021 | Median | <26th%tile | 26th%tile | Median | >=75th%tile |
2020 PSU TARGET MEASURES | |||||||
Award Multiplier | |||||||
Weight | Performance Year | Target ROE | 0% | 25% | 100% | 175% | |
Operating ROE | 60.0% | ||||||
2020 | 11.1% | <4.1% | 4.1% | 11.1% | >=16.1% | ||
Award Multiplier | |||||||
Weight | Performance Period | Target | 0.0% | 25% | 100% | 175% | |
3Yr Relative Change in BVPS to Peers | 40.0% | 2020 - 2022 | Median | <26th %tile | 26th %tile | Median | >=75th %tile |
OPERATING ROE | Juan C. Andrade | John Doucette | Craig Howie | Sanjoy Mukherjee | ||||
Target Award | Target Award | Target Award | Target Award | |||||
N/A | 1,825 | 925 | 1,140 | |||||
Target | Actual14 | Earn Out % | Target Multiplier | Earned PSU | Earned PSU | Earned PSU | Earned PSU | |
2018 Period | 11% | 2.3% | 16.7% | 0% | 0 | 0 | 0 | |
2019 Period | 12.2% | 10.3% | 16.7% | 79.6% | 243 | 123 | 152 | |
2020 Period | 11.1% | 8.4% | 16.7% | 71.1% | 217 | 110 | 136 |
OPERATING ROE | Juan C. Andrade | John Doucette | Craig Howie | Sanjoy Mukherjee | ||||
Target Award | Target Award | Target Award | Target Award | |||||
N/A | 1,980 | 1,005 | 1,290 | |||||
Target | Actual | Earn Out % | Target Multiplier | Earned PSU | Earned PSU | Earned PSU | Earned PSU | |
2019 Period | 12.2% | 10.3% | 20% | 79.6% | 316 | 161 | 206 | |
2020 Period | 11.1% | 8.4% | 20% | 71.1% | 282 | 143 | 184 |
OPERATING ROE | Juan C. Andrade | John Doucette | Craig Howie | Sanjoy Mukherjee | ||||
Target Award | Target Award | Target Award | Target Award | |||||
6,770 | 1,895 | 825 | 1,150 | |||||
Target | Actual | Earn Out % | Target Multiplier | Earned PSU | Earned PSU | Earned PSU | Earned PSU | |
2020 Period | 11.1% | 8.4% | 20% | 71.1% | 963 | 270 | 118 | 164 |
2018 PSU (BVPS) | John Doucette | Craig Howie | Sanjoy Mukherjee | ||||
Target Award | Target Award | Target Award | |||||
1,825 | 925 | 1,140 | |||||
Weight | Award Multiplier | Earned PSU | Earned PSU | Earned PSU | |||
2018-2020 Period | 50.0% | 121%15 | 1,105 | 560 | 690 | ||
John Doucette | Craig Howie | Sanjoy Mukherjee | |||
2018 PSU Target Award | 1,825 | 925 | 1,140 | ||
Total 2018 Operating ROE PSU Earned | 460 | 233 | 288 | ||
Total 2018 BVPS PSU Earned | 1,105 | 560 | 690 | ||
Total PSU Earned | 1,565 | 793 | 978 | ||
Name | Title/Business Unit | Annual Base Salary | Incentive Cash Bonus | Time-Vested Equity Award | Performance- Based Equity Award | Total Direct Compensation | |||||||||||||||
Juan C. Andrade | President and CEO | $ | 1,250,000 | $ | 2,500,000 | $ | 2,000,000 | $ | 2,000,000 | $ | 7,750,000 | ||||||||||
John P. Doucette | Executive Vice President and President and CEO of the Reinsurance Division | 875,000 | 820,000 | 787,500 | 525,000 | 3,007,500 | |||||||||||||||
Craig Howie | Former Executive Vice President and Chief Financial Officer | 571,200 | 350,000 | — | — | 921,200 | |||||||||||||||
Sanjoy Mukherjee | Executive Vice President and General Counsel, Secretary | 612,000 | 700,000 | 585,000 | 390,000 | 2,287,000 | |||||||||||||||
Mark Kociancic17 | Executive Vice President and Chief Financial Officer | 875,000 | 500,000 | 992,160 | 495,340 | 2,862,500 |
Performance Measure | 2020 Plan ROE (Target) | 2020 Adjusted ROE | Percentage of Base Salary Maximum Bonus | Resulting Maximum Bonus Potential | ||||||||||||
Operating ROE | 11.1 | % | 8.0 | % | 50 | % | $ | 834,821 | ||||||||
Non-Financial Performance Measure | Maximum Bonus Potential | |||
50% of 280% Base Salary Bonus Maximum | $ | 1,750,000 | ||
Performance Measure | 2020 Plan ROE (Target) | 2020 Adjusted ROE | Resulting Maximum Bonus Potential | |||||||||
Operating ROE | 11.1 | % | 8.0 | % | $ | 834,821 | ||||||
Non-Financial | $ | 1,750,000 | ||||||||||
Total Potential Cash Bonus | $ | 2,584,821 | ||||||||||
Performance Level | Financial Performance Measure (ROE) | Potential Maximum Bonus for each NEO | |||||||||||||||||
JOHN DOUCETTE | CRAIG HOWIE | SANJOY MUKHERJEE | |||||||||||||||||
Maximum | >=16.1% | 200% Base Salary | $ | 1,750,000 | 200% Base Salary | $ | 1,142,400 | 200% Base Salary | $ | 1,224,000 | |||||||||
Target | 11.1% | 130% Base Salary | $ | 1,137,500 | 100% Base Salary | $ | 571,200 | 120% Base Salary | $ | 734,400 | |||||||||
Threshold | 4.1% | 25% Base Salary | $ | 218,750 | 25% Base Salary | $ | 142,800 | 25% Base Salary | $ | 153,000 | |||||||||
Below Threshold | <4.1% | Zero | $ | 0 | Zero | $ | 0 | Zero | $ | 0 |
JOHN DOUCETTE | CRAIG HOWIE | SANJOY MUKHERJEE | ||||||||||||||||||
Financial Performance Measure (ROE) | 2020 Plan ROE (Target) | 2020 Adjusted ROE | Resulting Maximum Bonus Potential | Resulting Maximum Bonus Potential | Resulting Maximum Bonus Potential | |||||||||||||||
70.0% | 11.1 | % | 8.0 | % | $ | 511,438 | $ | 267,036 | $ | 333,846 |
Non-Financial Performance Measure | JOHN DOUCETTE | CRAIG HOWIE | SANJOY MUKHERJEE | |||||||||
30% of 200% Base Salary Bonus Maximum | $ | 525,000 | $ | 342,720 | $ | 367,200 |
JOHN DOUCETTE | CRAIG HOWIE | SANJOY MUKHERJEE | ||||||||||||||||||
Performance Measure | 2020 Plan ROE (Target) | 2020 Adjusted ROE | Resulting Maximum Bonus Potential | Resulting Maximum Bonus Potential | Resulting Maximum Bonus Potential | |||||||||||||||
Operating ROE | 11.1 | % | 8.0 | % | $ | 511,438 | $ | 267,036 | $ | 333,846 | ||||||||||
Non-Financial | $ | 525,000 | $ | 342,720 | $ | 367,200 | ||||||||||||||
Total Maximum Bonus | $ | 1,036,438 | $ | 609,756 | $ | 701,046 |
Change in Pension | |||||||||||||||||||||||||||||||||
Value and | |||||||||||||||||||||||||||||||||
Stock Awards | Nonqualified | ||||||||||||||||||||||||||||||||
Name and | Restricted | Performance | Non-Equity | Deferred | |||||||||||||||||||||||||||||
Principal | Stock | Share Unit | Incentive Plan | Compensation | All Other | ||||||||||||||||||||||||||||
Position | Year | Salary | Bonus | Awards(1) | Awards(2) | Compensation | Earnings(3) | Compensation(4) | Total | ||||||||||||||||||||||||
Juan C. Andrade | |||||||||||||||||||||||||||||||||
CEO and President | |||||||||||||||||||||||||||||||||
2020 | $ | 1,298,077 | $ | — | 1,876,272 | $ | 1,876,272 | $ | 2,500,000 | $ | — | $ | 512,591 | $ | 8,063,212 | ||||||||||||||||||
John P. Doucette | |||||||||||||||||||||||||||||||||
Executive Vice President and President and CEO of Reinsurance Division | |||||||||||||||||||||||||||||||||
2020 | $ | 908,654 | $ | — | $ | 788,478 | $ | 525,190 | $ | 820,000 | $ | 454,247 | $ | 217,281 | $ | 3,713,850 | |||||||||||||||||
2019 | 853,461 | — | 1,938,900 | 442,431 | 920,000 | 478,661 | 150,659 | 4,784,112 | |||||||||||||||||||||||||
2018 | 823,077 | — | 664,149 | 442,362 | 400,000 | (78,346 | ) | 169,933 | 2,421,175 | ||||||||||||||||||||||||
Craig Howie | |||||||||||||||||||||||||||||||||
Former Executive Vice President and Chief Financial Officer | |||||||||||||||||||||||||||||||||
2020 | $ | 587,957 | $ | — | $ | 457,289 | $ | 228,645 | $ | 350,000 | $ | — | $ | 140,279 | $ | 1,764,170 | |||||||||||||||||
2019 | 556,000 | — | 448,017 | 224,567 | 500,000 | — | 117,025 | 1,845,609 | |||||||||||||||||||||||||
2018 | 555,154 | — | 448,422 | 224,211 | 250,000 | — | 128,738 | 1,606,525 | |||||||||||||||||||||||||
Mark Kociancic | |||||||||||||||||||||||||||||||||
Executive Vice President and Chief Financial Officer | |||||||||||||||||||||||||||||||||
2020 | $ | 201,923 | $ | — | $ | 5,000,048 | $ | — | $ | 500,000 | $ | — | $ | 89,743 | $ | 5,791,714 | |||||||||||||||||
Sanjoy Mukherjee | |||||||||||||||||||||||||||||||||
Executive Vice President, General Counsel and Secretary | |||||||||||||||||||||||||||||||||
2020 | $ | 632,307 | $ | — | $ | 478,075 | $ | 318,717 | $ | 700,000 | $ | 724,858 | $ | 138,885 | $ | 2,992,842 | |||||||||||||||||
2019 | 593,268 | — | 1,232,404 | 288,251 | 625,000 | 376,429 | 248,415 | 3,363,767 | |||||||||||||||||||||||||
2018 | 558,038 | — | 414,487 | 276,325 | 400,000 | (67,805 | ) | 252,153 | 1,833,198 | ||||||||||||||||||||||||
Jonathan Zaffino | |||||||||||||||||||||||||||||||||
Former Executive Vice President and President and CEO of Everest Insurance® | |||||||||||||||||||||||||||||||||
2020 | $ | 441,538 | $ | — | $ | 800,949 | $ | 400,475 | $ | — | $ | — | $ | 139,671 | $ | 1,782,633 | |||||||||||||||||
2019 | 686,923 | — | 1,611,147 | 280,430 | 1,082,000 | — | 141,436 | 3,801,936 | |||||||||||||||||||||||||
2018 | 573,077 | — | 481,144 | 241,178 | 550,000 | — | 110,003 | 1,955,402 | |||||||||||||||||||||||||
Andrade | Doucette | Howie | Kociancic | Mukherjee | Zaffino | |||||||||||||||||||
Life insurance premiums | $ | 1,008 | $ | 1,008 | $ | 1,008 | $ | 168 | $ | 1,008 | $ | 504 | ||||||||||||
Employer Matching Contributions (Qualified and Non-qualified) | 38,839 | 26,724 | 17,567 | 6,058 | 18,437 | 11,400 | ||||||||||||||||||
Dividends on Restricted Shares | 268,032 | 80,820 | 34,491 | 32,550 | 51,378 | 36,354 | ||||||||||||||||||
Employer Discretionary Contribution(5) | 192,712 | 108,729 | 87,213 | 14,135 | 68,062 | 91,413 | ||||||||||||||||||
Estimated Future Payouts Under Non-Equity Incentive Plan Awards(1) | Estimated Future Payouts Under Equity Incentive Plan Awards | Grant Date Fair Value of Stock Awards | |||||||||||||||||||||||||||||||||||
Name | Grant Date | Threshold | Target | Maximum | Threshold | Target(4) | Maximum(5) | All Other Stock Awards: Number of Shares of Stock or Units(2) | Restricted Stock Awards(3) | PSU Awards(6) | |||||||||||||||||||||||||||
Juan C. Andrade | 2/26/2020 | — | $ | 2,500,000 | $ | 3,500,000 | — | 6,770 | 11,848 | 6,770 | $ | 1,876,272 | $ | 1,876,272 | |||||||||||||||||||||||
John P. Doucette | 2/26/2020 | — | 1,137,500 | 1,750,000 | — | 1,895 | 3,316 | 2,845 | 788,478 | 525,190 | |||||||||||||||||||||||||||
Craig Howie | 2/26/2020 | — | 571,200 | 1,142,400 | — | 825 | 1,444 | 1,650 | 457,289 | 228,645 | |||||||||||||||||||||||||||
Mark Kociancic | 11/18/2020 | — | 1,137,500 | 1,750,000 | — | — | — | 21,000 | 5,000,048 | — | |||||||||||||||||||||||||||
Sanjoy Mukherjee | 2/26/2020 | — | 734,400 | 1,224,000 | — | 1,150 | 2,013 | 1,725 | 478,075 | 318,717 | |||||||||||||||||||||||||||
Jonathan Zaffino | 2/26/2020 | — | — | — | — | 1,445 | 2,529 | 2,890 | 800,949 | 400,475 |
Stock Awards(1) | ||||||||||||||||
Restricted Stock Awards | PSU Awards | |||||||||||||||
Name | Number of Shares or Units of Stock That Have Not Vested(1) | Market Value of Shares or Units of Stock That Have Not Vested(2) | Equity Incentive Plan Awards: Number of Unearned Shares, Units or Other Rights That Have Not Vested(3) | Equity Incentive Plan Awards: Market or Payout Value of Unearned Shares, Units or Other Rights That Have Not Vested(2) | ||||||||||||
Juan C. Andrade | 37,474 | $ | 8,772,289 | 5,416 | $ | 1,267,831 | ||||||||||
John P. Doucette | 12,317 | 2,883,287 | 2,704 | 632,979 | ||||||||||||
Craig Howie | 5,563 | 1,302,243 | 1,262 | 295,422 | ||||||||||||
Mark Kociancic | 21,000 | 4,915,890 | — | — | ||||||||||||
Sanjoy Mukherjee | 7,836 | 1,834,329 | 1,694 | 396,548 | ||||||||||||
Jonathan Zaffino | — | — | — | — | ||||||||||||
Grant Date | 2/24/2016 | 2/22/2017 | 2/21/2018 | 2/27/2019 | 9/18/2019 | 11/19/2019 | 2/26/2020 | 11/18/2020 |
Juan C. Andrade | ||||||||
Restricted Share Awards | — | — | — | — | 30,704 | — | 6,770 | — |
PSU Awards | — | — | — | — | — | — | 6,770 | — |
John P. Doucette | ||||||||
Restricted Share Awards | 594 | 1,026 | 1,644 | 2,376 | — | 3,832 | 2,845 | — |
PSU Awards | — | — | 1,825 | 1,980 | — | — | 1,895 | — |
Craig Howie | ||||||||
Restricted Share Awards | 457 | 742 | 1,110 | 1,604 | — | — | 1,650 | — |
PSU Awards | — | — | 925 | 1,005 | — | — | 825 | — |
Mark Kociancic | ||||||||
Restricted Share Awards | — | — | — | — | — | — | — | 21,000 |
PSU Awards | — | — | — | — | — | — | — | — |
Sanjoy Mukherjee | ||||||||
Restricted Share Awards | 431 | 702 | 1,026 | 1,548 | — | 2,404 | 1,725 | — |
PSU Awards | — | — | 1,140 | 1,290 | — | — | 1,150 | — |
Share Awards | Share Awards | |||||||||||||||
Name | Number of Shares Acquired on Settlement | Value Realized Settlement(1) | Number of Shares Acquired on Vesting | Value Realized on Vesting(2) | ||||||||||||
Juan C. Andrade | — | — | 7,676 | $ | 1,561,932 | |||||||||||
John P. Doucette | 764 | $ | 211,739 | 3,811 | $ | 1,022,911 | ||||||||||
Craig Howie | 554 | $ | 153,538 | 2,060 | $ | 579,012 | ||||||||||
Mark Kociancic | — | — | — | — | ||||||||||||
Sanjoy Mukherjee | 523 | $ | 144,947 | 2,533 | $ | 681,748 | ||||||||||
Jonathan Zaffino | 509 | $ | 141,067 | 2,098 | $ | 588,337 | ||||||||||
Number of | Present Value | Payments | |||||||||||||
Years Credited | of Accumulated | During | |||||||||||||
Name | Plan Name | Service | Benefit(1) | Last Fiscal Year | |||||||||||
Juan C, Andrade | Retirement Plan | N/A | $ | — | $ | — | |||||||||
Supplemental Plan | — | — | |||||||||||||
John P. Doucette | Retirement Plan | 12.3 | 847,216 | — | |||||||||||
Supplemental Plan | 2,519,990 | — | |||||||||||||
Craig Howie | Retirement Plan | N/A | — | — | |||||||||||
Supplemental Plan | — | — | |||||||||||||
Mark Kociancic | Retirement Plan | N/A | — | — | |||||||||||
Supplemental Plan | — | — | |||||||||||||
Sanjoy Mukherjee | Retirement Plan | 20.5 | 1,461,376 | — | |||||||||||
Supplemental Plan | 3,078,438 | — | |||||||||||||
Jonathan Zaffino | Retirement Plan | N/A | — | — | |||||||||||
Supplemental Plan | — | — | |||||||||||||
Executive | Registrant | Aggregate | Aggregate | Aggregate | ||||||||||||||||
Contributions in | Contributions in | Earnings in | Withdrawal/ | Balance at Last | ||||||||||||||||
Name | Last Fiscal Year(2) | Last Fiscal Year(2) | Last Fiscal Year | Distributions | Fiscal Year-End(3) | |||||||||||||||
Juan C. Andrade | ||||||||||||||||||||
Everest Re Supplemental | ||||||||||||||||||||
Savings Plan | $ | 30,289 | $ | 203,050 | $ | 238 | $ | — | $ | 246,677 | ||||||||||
John P. Doucette | ||||||||||||||||||||
Everest Re Supplemental | ||||||||||||||||||||
Savings Plan | 18,173 | 126,902 | 174,642 | — | 903,611 | |||||||||||||||
Craig Howie | ||||||||||||||||||||
Everest Re Supplemental | ||||||||||||||||||||
Savings Plan | 9,089 | 73,325 | 159,929 | — | 962,193 | |||||||||||||||
Mark Kociancic | ||||||||||||||||||||
Everest Re Supplemental | ||||||||||||||||||||
Savings Plan | — | — | — | — | — | |||||||||||||||
Sanjoy Mukherjee | ||||||||||||||||||||
Everest Re Supplemental | ||||||||||||||||||||
Savings Plan | 9,886 | 77,948 | 150,498 | — | 586,780 | |||||||||||||||
Jonathan Zaffino | ||||||||||||||||||||
Everest Re Supplemental | ||||||||||||||||||||
Savings Plan | 4,015 | 78,328 | 86,743 | — | 477,065 | |||||||||||||||
Fiscal Year | 2020 | 2020 | ||||||
Employee | Median Employee | CEO | ||||||
Annual Base Salary | $ | 124,800 | $ | 1,250,000 | ||||
Bonus Paid March 2021 | $ | 13,000 | $ | 2,500,000 | ||||
Res Share Value Granted Feb. 2020 | $ | 0 | $ | 1,875,000 | ||||
Perf Share Target Value Granted Feb. 2020 | $ | 0 | $ | 1,875,000 | ||||
Pension Value and Nonqualified Deferred Comp Earnings PY 2020 | $ | 0 | $ | 0 | ||||
All Other Compensation PY 2020 | $ | 7,708 | $ | 500,590 | ||||
Total Comp | $ | 145,508 | $ | 8,000,590 | ||||
Name | PSU | Restricted Shares | Total | |||||||||
Juan C. Andrade | $ | 1,508,410 | $ | 8,772,289 | $ | 10,280,699 | ||||||
John P. Doucette | 1,214,302 | 2,883,287 | 4,097,589 | |||||||||
Craig W. Howie | 585,387 | 1,302,243 | 1,887,629 | |||||||||
Mark Kociancic | — | 4,915,890 | 4,915,890 | |||||||||
Sanjoy Mukherjee | 762,515 | 1,834,329 | 2,596,844 |
Name | Incremental Benefit | Termination Without Cause or Resignation for Good Reason | Termination Following Change in Control | ||||||||||||||
Juan C. Andrade Cash Payment | $ | 5,000,000 | (1) | $ | 6,745,193 | (5) | |||||||||||
Restricted Stock Value | 7,187,499 | (2) | 8,772,289 | (6) | |||||||||||||
PSU Value | 225,357 | (3) | 225,357 | (7) | |||||||||||||
Benefits Continuation | 55,485 | (4) | 39,000 | ||||||||||||||
Pension Enhancement | — | — | |||||||||||||||
Total Value | $ | 12,468,341 | $ | 15,781,839 | (8) | ||||||||||||
John P. Doucette Cash Payment | $ | 2,570,000 | (1) | $ | 3,170,128 | (5) | |||||||||||
Restricted Stock Value | 883,924 | (2) | 2,883,287 | (6) | |||||||||||||
PSU Value | 1,202,485 | (3) | 1,202,485 | (7) | |||||||||||||
Benefits Continuation | 24,589 | (4) | 35,000 | ||||||||||||||
Pension Enhancement | — | 803,000 | |||||||||||||||
Total Value | $ | 4,680,998 | $ | 8,093,900 | (8) | ||||||||||||
Craig Howie Cash Payment | $ | 1,492,400 | (1) | $ | 2,002,074 | (5) | |||||||||||
Restricted Stock Value | 451,560 | (2) | 1,302,243 | (6) | |||||||||||||
PSU Value | 579,783 | (3) | 579,783 | (7) | |||||||||||||
Benefits Continuation | 24,201 | (4) | 35,000 | ||||||||||||||
Pension Enhancement | — | 334,000 | |||||||||||||||
Total Value | $ | 2,547,944 | $ | 4,253,100 | (8) | ||||||||||||
$ | 2,250,000 | (1) | $ | 2,750,000 | (5) | ||||||||||||
Restricted Stock Value | 983,178 | (2) | 4,915,890 | (6) | |||||||||||||
PSU Value | — | — | |||||||||||||||
Benefits Continuation | 27,743 | (4) | 39,000 | ||||||||||||||
Pension Enhancement | — | 385,000 | |||||||||||||||
Total Value | $ | 3,260,921 | $ | 8,089,890 | (8) | ||||||||||||
Sanjoy Mukherjee Cash Payment | $ | 1,924,000 | (1) | $ | 2,239,077 | (5) | |||||||||||
Restricted Stock Value | 575,159 | (2) | 1,834,329 | (6) | |||||||||||||
PSU Value | 755,022 | (3) | 755,022 | (7) | |||||||||||||
Benefits Continuation | 19,520 | (4) | 26,000 | ||||||||||||||
Pension Enhancement | — | 708,000 | |||||||||||||||
Total Value | $ | 3,273,701 | $ | 5,562,428 | (8) |