Company: PRI
Filing Date: 2025-04-01
Form Type: DEF 14A
Source: 0000950170-25-048061
Chunk: 87

Company: Primerica, Inc.
Filing Date: 2025-04-01
Form: DEF 14A
Chunk 87
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 COMPENSATION |

of the Senior Health business. Adjusted net operating income for fiscal 2022 and fiscal 2021 has not been restated from the 2024 Proxy Statement so those results include the results of the Senior Health business, which was acquired on July 1, 2021 and disposed of on September 30, 2024. Adjusted net operating income for fiscal 2022 and fiscal 2021 reflects adjustments to originally published amounts due to the adoption of ASU 2018-12 or LDTI. P ay Ratio In August 2015, pursuant to a mandate of the Dodd-Frank Wall Street Reform and Consumer Protection Act, the SEC adopted a rule requiring annual disclosure of the ratio of the median employee’s annual total compensation to the total annual compensation of the principal executive officer. The stated purpose of the disclosure is to provide a measure of the equitability of pay within the organization. The Company’s PEO is Mr. G. Williams, our Chief Executive Officer. Management determined that there have been no changes to its employee population that would result in a significant change to this pay ratio disclosure. As a result, as permitted by the rule, the median employee used for the 2024 calculation is unchanged from the median employee used for the 2023 calculation. In determining the median employee, a listing was prepared of all employees as of December 1, 2024. The list of 2,847 employees included 533 employees who are characterized as “hours worked only employees”, most of whom teach insurance licensing classes. It excluded 11 of such employees with zero earnings in fiscal 2024. It also excluded individuals who are affiliated with the Company solely as independent contractors. The Company’s total number of U.S. and non-U.S. employees is 2,858. For simplicity, the median employee was identified based on earnings reflected on Internal Revenue Service Form W-2 and Canada Revenue Agency Form T4. We annualized wages and salaries for those employees that were not employed for the full year of 2024 and applied a U.S. dollar exchange rate to the compensation elements paid in foreign currency. The median amount was represented by an employee who works as an analyst on the Life Operations team at the Company’s home office in Duluth, Georgia. The annual total compensation for fiscal year 2024 for our Chief Executive Officer was $7,190,309 and for the median employee was $59,340. The resulting ratio of our Chief Executive Officer’s pay to the pay