Company: PRI
Filing Date: 2025-04-01
Form Type: DEF 14A
Source: 0000950170-25-048061
Chunk: 84

Company: Primerica, Inc.
Filing Date: 2025-04-01
Form: DEF 14A
Chunk 84
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 1, 2021 | $146.66 |
| March 1, 2020 | $111.34 |

(6) TSR for 2020 is for that year only, TSR for 2021 is a two-year return from January 1, 2020 through December 31, 2021, TSR for 2022 is a three-year return from January 1, 2020 through December 31, 2022, TSR for 2023 is a four-year return from January 1, 2020 through December 31, 2023 and TSR for 2024 is a five-year return from January 1, 2020 through December 31, 2024.

(7) Represents the S&P 500 Insurance Index, as used in the Total Stockholder Return graph included under “— Compensation Disclosure and Analysis (CD&A) – Total Stockholder Return.”

(8) In fiscal 2024, net income was reduced by a loss from discontinued operations of $249.6 million, most of which was driven by one-time charges associated with the Company's disposal of the Senior Health business. Operating results for fiscal 2023 have been restated from the 2024 Proxy Statement to exclude the results of the Senior Health business, which has been reported as a discontinued operation. Refer to the 2024 Annual Report for a definition of the Senior Health business. Operating results for fiscal 2022 and fiscal 2021 have not been restated from the 2024 Proxy Statement so they still include the results of the Senior Health business, which was acquired on July 1, 2021 and disposed of on September 30, 2024. Fiscal 2022 and fiscal 2021 values were updated from originally published amounts to reflect the application of a new accounting standard relating to the accounting for long-duration contracts, referred to as LDTI.

| Primerica 2025 Proxy Statement | 81 |

| EXECUTIVE COMPENSATION |

(9) The Compensation Committee has selected adjusted net operating income as the most important financial measure that relates to executive pay for fiscal 2024. This measure, which is a non-GAAP financial measure, is a performance metric under the Company's short-term incentive plan. Further, it is the basis for the operating EPS growth metric under the Company's long-term incentive plan. Finally, adjusted net operating income is the numerator to the calculation of operating ROAE, which is a performance metric in both the short-term incentive plan