Company: AXS-PE
Filing Date: 2025-04-03
Form Type: DEF 14A
Source: 0001214816-25-000088
Chunk: 31

Company: AXIS CAPITAL HOLDINGS LTD
Filing Date: 2025-04-03
Form: DEF 14A
Chunk 31
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 (iv) delivered on the Company's strategy to enhance its high-performance culture and people initiatives.

#### Aligning Pay and Performance
Short Term Incentives

Payouts under AXIS' annual incentive plan are based on performance against financial and non-financial targets. For the CEO, the annual incentive plan is weighted 75% against a financial performance target (the Company’s OROACE) and 25% against achievement of the Company’s strategic business goals. As a result of the Company’s outstanding underlying financial results and Mr. Tizzio’s leadership in executing on our strategic business priorities, the annual incentive program paid out at 150.5% for the CEO. For the Company's other named executive officers, payouts under the annual incentive plan ranged between 127% - 148% based on their individual performance in advancing the Company's strategic priorities, along with the financial metrics under the plan.

Long Term Incentives

The CEO and other named executive officers also receive long-term incentives in the form of annual equity awards. The CEO’s annual equity grant consists of 60% PSUs and 40% of time-vesting restricted stock units (“RSUs”). In 2025, the CEO was granted an equity award equal to 120% of his target reflecting his strong performance in 2024. The annual equity awards for the other named executive officers consist of RSUs (between 60% - 50% of total grant value) and PSUs (between 50% - 40% of the total grant value). These non-CEO named executive officers received annual equity awards in 2025 ranging between 110% - 125% of target based on each officer's individual performance in 2024.

The performance period for the PSU awards granted to the CEO and other named executive officers in January 2022 ended on December 31, 2024. These PSU awards were based on the Company’s growth in TSR relative to its peer group. AXIS' relative total shareholder return for the three-year period ending December 31, 2024 ranked in the 83rd percentile of our PSU peer group, resulting in a payout factor of 192%.

| 40 |     | AXIS 2025 Proxy Statement |

The Human Capital and Compensation Committee regularly evaluates the metrics under our short term and long-term incentive plans. We believe the design of our current compensation program appropriately incentivizes and motivates our senior executives to achieve long-term, sustainable value for our shareholders without taking unreasonable risks.

Key Human Capital and Compensation Committee