How Garateix was paid
$5.3M 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 | Stock | Incentive | Other | Total |
|---|---|---|---|---|---|
| Ernie GarateixCEO | $875,500 | $2,757,824 | $1,663,450 | $45,123 | $5,341,897 |
| Kirk LuskCFO | $824,000 | $947,598 | $782,800 | $55,532 | $2,609,930 |
| Tim MouraPresident, NBIC | $650,000 | $409,504 | $218,855 | $35,384 | $1,313,743 |
What changed and why
- $5.3MCEO Ernie Garateix received total compensation of $5,341,897 for fiscal 2025.
- $77.5MUnexpectedly low net weather and catastrophe losses totaling $77.5 million contributed to maximum payout levels.
- Performance metrics were adjusted to incorporate increased rigor for net operating ratio and ROAE goals.
- Long-term incentives consist of annual grants of time-based and performance-based restricted stock.
- 78%Approximately 78% of votes cast approved the say-on-pay proposal at the 2025 annual meeting.
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.