Company: PRI
Filing Date: 2025-04-01
Form Type: DEF 14A
Source: 0000950170-25-048061
Chunk: 64

Company: Primerica, Inc.
Filing Date: 2025-04-01
Form: DEF 14A
Chunk 64
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 The Company adopted an Incentive Compensation Recovery Policy in 2023 that complies with the requirements of the NYSE. In addition, the 2020 Incentive Plan provides that the Compensation Committee may require the reimbursement of cash or forfeiture of equity awards (whether time-based or performance-based) if it determines that an award was granted, vested or paid based on the achievement of performance criteria that would not have been granted, vested or paid absent fraud or misconduct, an event giving rise to a restatement of the Company’s financial statements or a significant write-off not in the ordinary course affecting the Company’s financial statements. Further, it provides broad discretion to the Board or a committee of the Board to adopt a forfeiture, clawback or recoupment policy that covers additional circumstances, such as actions, failures to act, events or other activities that it considers detrimental to the Company. Stock Ownership Stock Ownership Guidelines The Compensation Committee recognizes the critical role that executive stock ownership has in aligning the interests of management with those of our stockholders. As such, we maintain stock ownership guidelines under which our executive officers are required to acquire and hold our common stock in an amount representing a multiple of base salary. In determining compliance with these guidelines, stock ownership includes shares beneficially owned by the participant (or by immediate family members) as well as unvested RSUs. Until the ownership guidelines are satisfied, our executive officers are required to hold 75% of the net shares received by them under the Company’s equity-based incentive compensation program (after having shares withheld to satisfy taxes associated with the vesting of RSUs and PSUs). The Compensation Committee reviews compliance with our stock ownership guidelines at least annually. PSUs, which represent 50% of the annual equity award to our executive officers, do not count towards satisfaction of the guidelines. The Compensation Committee believes that it is general industry practice to exclude PSUs from the calculation of stock ownership for purposes of the guidelines because their dependency on stock price and/or future performance makes their realization, and the amount that may be realized, highly uncertain. As a result, the current holdings reflected below do not represent actual interests in our common stock. The following table sets forth the minimum stock ownership requirements and current holdings for our executive officers as of March 1, 2025.

|                    |     | Ownership        
 Guideline        
 (as a Multiple   
 of Base  Salary) |     | Multiple of Base   
 Salary Owned as of 
 March 1, 2025      |
|:-------------------|:----|