Company: KNSL
Filing Date: 2025-03-28
Form Type: PRE 14A
Source: 0001669162-25-000016
Chunk: 30

Company: Kinsale Capital Group, Inc.
Filing Date: 2025-03-28
Form: PRE 14A
Chunk 30
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 to incentivize employees to think, operate and manage the business like owners. We design the mix of pay elements to most effectively support our strategic priorities of quality, growth and operational excellence. In 2024, our compensation consisted of the following components:

Base Salary

The CNCG Committee determined our NEOs’ base salary based on a number of factors, including:

• The nature, responsibilities and duties of the officer's position;

• The officer's expertise, demonstrated leadership ability and prior performance;

• The officer's salary history and total compensation, including annual cash bonuses and long-term incentive compensation; and

• The competitiveness of the market for the officer's services.

We intend for the base salaries of our NEOs to provide a minimum level of compensation for highly qualified executives. The base salaries of our NEOs are subject to modification based on an evaluation of each executive’s contribution, experience, responsibilities, external market data as well as the relative pay among senior executives at the Company. Each factor is considered on a discretionary basis without formulas or weights. We consider relative pay between executives because our perspective is that some consistency in pay emphasizes teamwork across the senior leadership level.

As part of its annual review of executive compensation, the CNCG Committee reviewed the base salaries of our NEOs, focusing on market competitiveness, business performance and individual performance. We operate in a highly competitive industry and have been successful in delivering profitable growth, making our employees, including NEOs, attractive to other employers in the labor market. We are proactive and deliberate in our compensation decisions to retain talented employees.

As a result, effective January 1, 2024, the CNCG Committee approved increases to the annual base salary of each of Messrs. Kehoe, Haney, Petrucelli and Beachy and Ms. Schnupp, in the amounts of $350,000, $125,000, $100,000, $65,000 and $95,000, respectively. Effective January 1, 2025, the CNCG Committee approved increases to the annual base salary of each of Messrs. Haney, Petrucelli and Beachy and Ms. Schnupp, in the amount of $50,000.

Annual Cash Incentive

All of our employees, including each NEO, are eligible to participate in our annual cash incentive program. Our annual cash incentive program is intended to directly link a portion of our employees' compensation to the financial performance of our business during the current fiscal year, especially as it relates to the compensation of each NEO. Under the