Company: PRI
Filing Date: 2025-04-01
Form Type: DEF 14A
Source: 0000950170-25-048061
Chunk: 61

Company: Primerica, Inc.
Filing Date: 2025-04-01
Form: DEF 14A
Chunk 61
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 advisors), with a similar business model (target customer, independent sales force and profitability) and similar size (revenue and market capitalization) as well as the marketplace for certain skills needed by our executives (direct marketing). This approach reflects the uniqueness and complexity of Primerica’s product and service mix, as opposed to focusing on a more narrow view of Primerica as a traditional life insurance company, and it enables the Compensation Committee to make judgments based on the type of business in which the Company is engaged. Because of the unique nature of our business model, not all selected peer companies fit all identified criteria. The executive compensation peer group was updated during fiscal 2024 to reflect changes in the relevant industries. Although used as a primary basis for developing a peer group by certain proxy advisory firms, the Compensation Committee did not consider the Global Industry Classification Standard (“GICS”) code of potential peer companies. The Company’s GICS code characterizes it as a life or health insurance company, while the GICS code of many of the peers classifies them as diversified financial services companies. As a result, the peer group considered by the Compensation Committee may differ from the peer group considered by certain proxy advisory firms. In fiscal 2024, the Compensation Committee completed a review of peer group compensation by comparing individual executive compensation for comparable positions. The Compensation Committee considered these analyses and findings as part of its overall decision-making process regarding executive compensation. The compensation peer group for fiscal 2024 is set forth below:

| Life and Health Insurers          | Insurance Brokers             | Wealth Advisors               |
| CNO Financial Group, Inc.         | Arthur J. Gallagher & Co.     | Ameriprise Financial, Inc.    |
| Globe Life Inc.                   | Brown & Brown                 | Invesco Ltd.                  |
| Horace Mann Educators Corporation | Ryan Specialty Holdings, Inc. | LPL Financial Holdings Inc.   |
| Principal Financial Group, Inc.   |                               | Raymond James Financial, Inc. |
|                                   |                               | Stifel Financial Corp         |

| 64 |

| EXECUTIVE COMPENSATION |

Compensation Consultant The Compensation Committee’s Charter authorizes it to retain advisors, including compensation consultants, to assist it in its work. The Compensation Committee believes that compensation consultants can provide important market information and perspectives that can help it establish executive and director compensation programs that best meet the objectives of our compensation policies. The Compensation Committee retained Pearl Meyer & Partners (“Pearl Meyer”) as its independent compensation consultant for fiscal 2024.