Old Republic adopts 2023 PRP, sets target awards for CEO and other NEOs

OLD REPUBLIC INTERNATIONAL CORP

New 2023 Performance Recognition Plan replaces prior Key Employee Performance Recognition Plans.
CEO Craig R. Smiddy target award = 165% of base salary; max payout = 200% of target.
Performance metrics: Net Earned Premiums & Fees change (35%), Underwriting Margin/Combined Ratio (35%), Discretionary (30%).
CFO Frank J. Sodaro target 90% of base; EVP/Trsr Gray and EVP Oberst each target 130%.
Awards are cash, payable in 2024; vesting requires employment through payment date (except death/disability/change-in-control).

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