Company: PRI
Filing Date: 2025-04-01
Form Type: DEF 14A
Source: 0000950170-25-048061
Chunk: 57

Company: Primerica, Inc.
Filing Date: 2025-04-01
Form: DEF 14A
Chunk 57
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 above target levels when goals are exceeded. When goals are not met, incentive compensation awards are below target levels.                                                                                                                                                                                                                                                                                                                                                           |

| Primerica 2025 Proxy Statement | 59 |

| EXECUTIVE COMPENSATION |

Compensation Elements The elements of the fiscal 2024 executive compensation program for our named executive officers are described below.

| Pay Element             | Base Salary                                                                        | Bonus                                                                                    | RSUs                                          | PSUs                                                                |
| Type of Performance     | Short-term emphasis                                                                |                                                                                          | Hybrid of short-term and long-term emphasis   | Long-term emphasis                                                  |
| When Awarded            | Reviewed annually                                                                  | February 2025 for 2024 performance                                                       | February 2024                                 | February 2024                                                       |
| How Value is Determined | N/A                                                                                | •  Adjusted operating revenues•  Adjusted net operating income•  ROAE•  Life sales force | Fixed award values were set on the grant date | Fixed award values were set on the grant date                       |
| Performance Period      | Ongoing                                                                            | One year                                                                                 | Vest over three years                         | 2024-2026                                                           |
| How Payout Determined   | Compensation Committee judgment (based on a bi-annual competitive market analysis) | Based on performancecompared with corporate targets                                      | N/A                                           | •  Average ROAE•  Average annualEPS growth                          |
| When Delivered          | Semi-monthly                                                                       | March 2025                                                                               | Annually on March 1                           | In March 2027 after completion of the three-year performance period |
| Form of Delivery        | Cash                                                                               |                                                                                          | Equity                                        | Equity                                                              |

Compensation Elements: Base Salary Base salary is a fixed amount based on an individual’s skills, responsibilities and experience. The Compensation Committee generally reviews these amounts in February of each year and intends for them to provide a competitive fixed rate of pay recognizing different levels of responsibility. Other than Ms. Tan, who joined the Company in October 2023, the annual salaries of our named executive officers did not increase from 2015 through 2024. At the request of our Chief Executive Officer, the Compensation Committee reduced his base salary by 20% from September 1, 2022 through December 31, 2024. See “— Fiscal 2024 Executive Compensation.”

| 60 |

| EXECUTIVE COMPENSATION |

Compensation Elements: Performance-Based Awards Incentive awards are granted to reward executives for achieving critical corporate and strategic goals