Company: KNSL
Filing Date: 2025-03-28
Form Type: PRE 14A
Source: 0001669162-25-000016
Chunk: 31

Company: Kinsale Capital Group, Inc.
Filing Date: 2025-03-28
Form: PRE 14A
Chunk 31
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 annual cash incentive program, the CNCG Committee approved the bonus pool calculation parameters for 2024, which is determined by calculating the amount that is equal to a specified percentage of actual underwriting profit in 2024. Actual underwriting profit is defined as earned premiums plus fee income less net loss and loss adjustment expenses and underwriting expenses, before any deduction for bonuses. The CNCG Committee selected actual underwriting profit as the basis for the bonus pool calculation because it believes it is a useful

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metric to evaluate the Company’s results of operations and our underlying business performance, without regard to investment income.

The CNCG Committee oversees the bonus program, retains discretion in evaluating the individual performance component and approves the bonus payments for each NEO. Individual awards paid from the pool are determined based on a discretionary assessment of the individual's performance for the year (which takes into account the target bonus for such individual, which is 150% of base salary for Mr. Kehoe, and 125% of base salary for Messrs. Haney, Petrucelli and Beachy and for Ms. Schnupp). Bonus awards are payable in cash by March 15th of the year following the performance year. Bonuses with respect to 2024 were paid to our CEO at approximately 160% of target level and to the other NEOs between approximately 200% and 202% of target level. Actual payouts exceeded targets as a result of the Company's profitability relative to the CNCG Committee’s expectations. See “Executive Compensation - Summary Compensation Table” for amounts.

Equity Compensation

In connection with the completion of our IPO in July of 2016, we adopted the Kinsale Capital Group, Inc. 2016 Omnibus Incentive Plan (the “2016 Incentive Plan”). Our 2016 Incentive Plan provides for grant of options, restricted stock awards, restricted stock units and other share-based awards to our officers, employees, directors, independent contractors and consultants. These awards are an important part of our long-term incentive compensation program which we use in order to strengthen the commitment of such individuals to us, motivate them to faithfully and diligently perform their responsibilities and attract and retain competent and dedicated individuals whose efforts are expected to result in our long-term growth and profitability. All of our outstanding equity awards are governed by the 2016 Incentive Plan. All of our equity awards are subject to vesting conditions and require each executive to remain employed with the Company for a period of