Company: PRI
Filing Date: 2025-04-01
Form Type: DEF 14A
Source: 0000950170-25-048061
Chunk: 59

Company: Primerica, Inc.
Filing Date: 2025-04-01
Form: DEF 14A
Chunk 59
---
 |

(1) Awards were paid in February 2024 based on corporate performance in fiscal 2023. (2) Fixed award values were set on the grant date in February 2024. The award value was granted 50% in PSUs, of which between 0% and 150% will be delivered to the named executive officer after the completion of the 2024-2026 performance period. Excludes the special equity award granted to Mr. Williams in December 2024. (3) At Mr. Williams’ request, the Compensation Committee reduced his salary and target cash award by 20% from September 1, 2022 through December 31, 2024. If not for these reductions, his 2024 actual salary would have been $750,000, his fiscal 2024 target cash award would have been $1,500,000, his February 2024 long-term equity award would have been $2,750,000 and his total target incentive award would have been $4,250,000.

| 62 |

| EXECUTIVE COMPENSATION |

Compensation Elements: Benefits As with other employees, our named executive officers are eligible to participate in our employee health benefit programs, including health and dental insurance plans and a life insurance program, on the same terms as other regular employees. In addition, all regular employees, including our named executive officers, receive dividends on unvested RSUs and are entitled to a Company match of employee contributions to our 401(k) plan. Compensation Elements: Perquisites The Company provides only limited perquisites to our executive officers. The Compensation Committee has adopted a Director and Executive Perquisites Policy. This policy outlines the items that the Company is required to disclose as perquisites in its proxy statement, requires Compensation Committee approval of all perquisites paid to directors, named executive officers and certain significant employees and provides for pre-approval of certain categories of perquisites, including spousal travel to company events, executive physicals, and entertainment and gifts provided during Company-sponsored events. During fiscal 2024, perquisites included only items that had been pre-approved by the Compensation Committee. The Compensation Setting Process Timing of Executive Compensation Decisions Our executive compensation process begins in the fall, with preparations for the next compensation season. Following the conclusion of our fiscal year on December 31, the Compensation Committee reviews proposed payouts under previously established compensation programs in January and finalizes such payouts in February. Some of these compensation awards are based on results for the fiscal year just ended