Company: TIPT
Filing Date: 2025-03-17
Form Type: DEF 14A
Source: 0001393726-25-000038
Chunk: 38

Company: TIPTREE INC.
Filing Date: 2025-03-17
Form: DEF 14A
Chunk 38
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 Group, Inc.’s (“Fortegra”) specialty insurance lines, net investment income, investment gains, and mortgage revenues. Excluding investment gains and losses, revenues increased 22.4%.

• Net income of $53.4 million compared to net income of $14.0 million in 2023, driven by growth in our insurance business and improved mortgage operations.

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• Adjusted net income of $100.1 million increased by 61.6% from $61.9 million in 2023. Adjusted return on average equity was 22.9% for the year, as compared to 15.2% in 2023.

#### 2024 Compensation Highlights
Compensation of our NEOs is largely driven by the financial and strategic performance of the Company. Total compensation of our NEOs related to fiscal 2024 was approximately $25 million compared to $16.5 million in fiscal 2023, with the increase year over year driven largely by the grant date fair value of the grants of PRSUs with a $70 share price target (adjusted for dividends) as the vesting criteria for such awards. In approving the compensation program for 2024, the CNG Committee considered a number of factors including, but not limited to the responsibilities of the executives’ positions, the executives’ experience and contributions, the competitive marketplace for executive talent and corporate performance.

Consistent with Tiptree’s pay for performance philosophy, NEO pay mix is heavily weighted toward variable, performance-based pay, which ties a large portion of compensation to the achievement of our short- and long-term performance objectives. The charts below illustrate the fixed versus variable mix of compensation for our NEOs in 2024. As seen in the illustration below, for 2024, only 15% of compensation was fixed for the Executive Committee while 85% was variable, which we define as compensation in the form of any cash or stock award subject to forfeiture (including RSUs and PRSUs). 17% of the compensation of the other current NEOs at year-end was fixed while 83% was variable.

Fixed compensation consists of base salary and other guaranteed reimbursements such as travel and information technology reimbursements and related tax gross-ups and the premiums paid for executives under our medical expense reimbursement plan, or MERP. Variable compensation consists of any award based on performance and CNG Committee determination (including negative discretion).

#### 2024 Executive Compensation Program and Decisions
Our 2024 executive compensation