Company: PRI
Filing Date: 2025-04-01
Form Type: DEF 14A
Source: 0000950170-25-048061
Chunk: 52

Company: Primerica, Inc.
Filing Date: 2025-04-01
Form: DEF 14A
Chunk 52
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 the Compensation Committee expected the management team to focus its attention. Specifically, the size of the independent life-licensed sales force was given the highest weighting because the Board of Directors believes that this metric has historically driven the success of the business and the Compensation Committee sought to incentivize management to focus on initiatives to grow the independent sales force. The Compensation Committee believes that this metric, which is at the heart of the Company’s purpose to create financially independent families, reflects a “social” factor under the Company’s sustainability program. For all corporate performance metrics, payout levels at various levels of performance are as follows:

|              | Threshold Performance (1) | Target Performance | Maximum Performance (2) |
| Payout Level | 50% of Target             | 100%               | 200% of Target          |

(1) Represents performance at 85% of target, or 90% for the size of the independent life-licensed sales force. (2) Represents performance at 115% of target, or 110% for the size of the independent life-licensed sales force. The payout is zero for results below threshold performance and, for results between threshold and maximum performance levels, the actual payout factor is interpolated. The Compensation Committee intentionally narrowed the performance band for the size of the independent life-licensed sales force metric compared to the other metrics because it believes that performance in only the narrower band would justify an incentive payout. The graph below shows the actual results for the fiscal 2024 corporate performance metric at 147.4% of target and shows the corporate performance and targeted goal for each metric for fiscal 2024. Adjustments to Compensation Targets Financial measures for the short-term and long-term equity incentive programs are developed based on expectations about our planned activities and reasonable assumptions about the performance of our key business drivers for the applicable period. The Compensation Committee spends considerable time determining appropriate targets for these programs and, because both the Compensation Committee and

| Primerica 2025 Proxy Statement | 55 |

| EXECUTIVE COMPENSATION |

the Board of Directors believe that management is tasked with reacting appropriately to external challenges, the Compensation Committee is reluctant to change the measures of success during a performance period. As a result, the Compensation Committee does not expect to modify corporate performance targets absent extraordinary circumstances. From time to time, however, discrete items or events may arise that were not contemplated by these plans or assumptions and that would result in inappropriate executive compensation payouts if such items or events were not given special consideration. Such items or events could include items such as