Company: AFGC
Filing Date: 2025-04-04
Form Type: DEF 14A
Source: 0001140361-25-012231
Chunk: 15

Company: AMERICAN FINANCIAL GROUP INC
Filing Date: 2025-04-04
Form: DEF 14A
Chunk 15
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 to this proxy statement, and the following summary is qualified in its entirety by reference to Appendix A. Director Equity Compensation During the past three years, aggregate awards to non-employee Directors (all of which have been comprised of restricted shares), which are made annually on or about June 1, have totaled 10,232 restricted shares, 11,288 restricted shares and 9,144 restricted shares for 2024, 2023 and 2022, respectively. There are currently no shares underlying outstanding awards to non-employee Directors as of the date of this Proxy Statement. Administration and Eligibility The Board of Directors has designated the Compensation Committee as administrator of the Amended Plan. Each member of the Compensation Committee is a (i) “non-employee director” within the meaning of Rule 16b-3 under the Securities Exchange Act of 1933, as amended, and (ii) an “independent director” within the meaning of the rules of the NYSE. The Compensation Committee has exclusive power to determine the participants in the Amended Plan, the level of participation of each participant and the terms and conditions of all awards. In addition to non-employee Directors of the Company, all full-time employees of the Company and its subsidiaries are eligible to participate in the Amended Plan. Limits on Plan Awards The number of shares available for issuance pursuant to awards under the Amended Plan is limited to the total number approved by shareholders. A participant may receive multiple awards under the Amended Plan, but no participant will receive awards representing more than 500,000 shares in any year. Types of Awards Restricted Stock As discussed above, we have awarded solely restricted stock to employees since 2016 and expect to continue to do so. Non-employee Directors are not eligible to receive any award other than restricted stock awards under the Amended Plan. A restricted stock award represents common shares that are issued subject to restrictions on transfer and vesting requirements as determined by the Compensation Committee. Restricted stock awards to employee participants generally provide for “cliff vesting” after four years. Subject to the transfer restrictions and vesting requirements of the award, the participant has the same rights as a shareholder, including all voting and dividend rights, during the restriction period, unless the Committee determines otherwise at the time of the grant.

| 2025 Proxy Statement | American Financial Group21 |

TABLE OF CONTENTS Proposal No. 4 Stock Options Non-employee Directors are not eligible to receive stock options under the Amended Plan. Stock options granted under the Amended Plan