Company: PRI
Filing Date: 2025-04-01
Form Type: DEF 14A
Source: 0000950170-25-048061
Chunk: 56

Company: Primerica, Inc.
Filing Date: 2025-04-01
Form: DEF 14A
Chunk 56
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31, 2024. Say-on-Pay In 2023, our stockholders approved an annual Say-on-Pay vote. The Company’s most recent advisory vote on executive compensation occurred at the 2024 Annual Meeting. Approximately 95.1% of votes cast approved our executive compensation program as described in our 2024 Proxy Statement, and the Compensation Committee has not taken any action in response to that Say-on-Pay vote. Tax Implications The ultimate goal of the Compensation Committee is to provide compensation that is in the best interests of the Company. Therefore, to maintain flexibility to compensate our executives in a manner designed to promote long-term corporate goals and objectives, the Compensation Committee has not adopted a policy with respect to the deductibility of executive compensation or requiring that executive compensation have favorable accounting treatment to the Company.

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| EXECUTIVE COMPENSATION |

Compensation Program Objectives Our executive compensation program was designed to achieve the following four primary objectives:

| Compensation Program Objective                                                                                                                                                                        | How Objective is Achieved                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| Motivate and reward executives when they deliver desired business results and stockholder value                                                                                                       | Incentive compensation is tied directly to corporate performance and the achievement of strategic objectives.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
| Align executive and stockholder interests over the long term                                                                                                                                          | Equity-based incentive awards are tied to performance and their value increases with stock price appreciation. All executive officers receive 50% of the value of equity grants in the form of time-based RSUs. The remaining 50% of the value of equity grants to executive officers is awarded in the form of PSUs, which are delivered following completion of the three-year performance period only upon achievement of one or more performance goals. All executive officers are also subject to mandatory stock ownership guidelines. This further links executive performance with stockholder interests. |
| Avoid pay programs that may encourage excessive or unreasonable risk-taking, misalign the timing of rewards and performance, or otherwise fail to promote the creation of long-term stockholder value | The ranges of performance and payout levels are structured on a pro rata basis, rather than rewarding executives in lockstep fashion as performance increases, so that management is not encouraged to take excessive risk to reach the next level of incentive compensation. In addition, there is a cap for the maximum performance at each level.                                                                                                                                                                                                                                                              |
| Attract and retain the very best executive talent                                                                                                                                                     | Executive pay is designed to be competitive and performance-based. Executives are held accountable for results and rewarded