How McCathron was paid
$6M in total for 2025, as reported in the Summary Compensation Table. Equity awards are valued at grant, not at what they turned out to be worth.
Named executive officers
| Executive | Salary | Bonus | Stock | Incentive | Total |
|---|---|---|---|---|---|
| Richard McCathronPresident and Chief Executive Officer | $660,000 | $75,000 | $4,767,265 | $495,000 | $5,997,265 |
| Stewart EllisFormer Chief Financial Officer | $605,000 | $2,000,000 | $1,250,013 | $228,071 | $4,083,084 |
| Guy ZeltserChief Financial Officer | $450,000 | — | $1,500,021 | $183,750 | $2,133,771 |
| Torben OstergaardPresident and CEO, Spinnaker | $475,000 | — | $700,018 | $193,958 | $1,368,976 |
| Michael StienstraGM & Chief Insurance Officer, HHIP | $450,000 | — | $700,018 | $183,750 | $1,333,768 |
What changed and why
- $6MCEO total compensation increased to $5,997,265 in 2025 from $2,849,375 in 2024.
- $58MThe company achieved net income profitability of $58 million for 2025.
- $1.1BGross written premium increased 24% to $1.1 billion compared to 2024.
- $2MStewart Ellis received a $2,000,000 bonus related to transition duties.
- CEO equity awards include both RSUs and performance-based PRSUs tied to TSR.
About this page
Figures are automated and can be wrong; check the filing for the exact numbers. Totals follow SEC rules, which value stock and option awards at grant. Read the DEF 14A proxy statement for footnotes and the compensation committee's full reasoning.