---
schema_version: "secwatch.filing_event.v1"
accession: "0000074260-23-000027"
form_type: "8-K"
ticker: "ORI"
cik: "0000074260"
company_name: "OLD REPUBLIC INTERNATIONAL CORP"
filed_at: "2023-03-21T23:59:59+00:00"
generated_at: "2026-06-17T22:38:41.942224+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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).

## SEC filing metadata
- accession: 0000074260-23-000027
- form_type: 8-K
- ticker: ORI
- cik: 0000074260
- company_name: OLD REPUBLIC INTERNATIONAL CORP
- filed_at: 2023-03-21T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/74260/000007426023000027/0000074260-23-000027-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/74260/000007426023000027/ori-20230316.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000074260-23-000027
- JSON: https://secwatch.observer/filing/0000074260-23-000027.json
- Plain text: https://secwatch.observer/filing/0000074260-23-000027.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.