Company: AFGC
Filing Date: 2025-04-04
Form Type: DEF 14A
Source: 0001140361-25-012231
Chunk: 38

Company: AMERICAN FINANCIAL GROUP INC
Filing Date: 2025-04-04
Form: DEF 14A
Chunk 38
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 | Carl H. Lindner III |

Co-Chief Executive Officer (Co-Principal Executive Officer)

| • | S. Craig Lindner |

Co-Chief Executive Officer (Co-Principal Executive Officer)

| • | John B. Berding |

President of AFG and American Money Management Corporation

| • | Brian S. Hertzman |

Senior Vice President and Chief Financial Officer (Principal Financial Officer)

| • | David L. Thompson, Jr. |

President and Chief Operating Officer of Great American Insurance Group

| • | Mark A. Weiss |

Senior Vice President and General Counsel Overview of Compensation Program The Compensation Committee of the Board of Directors has responsibility for reviewing and approving the compensation paid to the Company’s Co-CEOs and other Company senior executive officers and overseeing the executive compensation policies of the Company. The Compensation Committee also administers the Company’s cash and equity incentive plans. The Compensation Committee ensures that the total compensation paid to the NEOs is fair, reasonable and competitive. AFG’s philosophy regarding executive compensation programs focuses on the balance of attracting, motivating, retaining and rewarding executives with a compensation package competitive among its peers and maximizing shareholder value by designing and implementing programs that tie compensation earned to the short-term and long-term performance of the Company. In linking pay to performance, the Compensation Committee compares the Company to a group of publicly-held insurance holding companies against which it competes for business, investors and/or employees (collectively, the “Compensation Peer Group”). Guided by principles that reinforce the Company’s pay-for-performance philosophy, NEO compensation includes base salary; annual performance-based cash awards; long-term stock incentives; cash awards based on long-term performance; and other compensation, including certain perquisites. A significant portion of each NEO’s compensation is dependent upon the Company achieving business and financial goals. As part of its compensation program philosophy, the Compensation Committee evaluates the total target and maximum compensation that can be earned by each NEO, rather than considering each individual component in isolation. As such, the Compensation Committee views perquisites as an element of total compensation and, accordingly, would consider the elimination or diminution of any perquisite as a decrease in total compensation. The Compensation Committee, then, would seek to replace any such elimination or diminution with fixed compensation which, if designed to replace the value of the perquisite, may require salary increases that, on a pre-tax basis, would allow the NEOs to replace the perquisite.

| 402025 Proxy Statement | American Financial Group |

TABLE OF CONTENTS Compensation Discussion and Analysis Compensation Consultant Engagement