8-K
filed May 19, 2023, 7:59 PM ET
ticker MKL
CIK 0001096343
other material
confidence high
sentiment neutral
materiality 0.50
Markel grants $4.55M in RSUs to top executives, shareholders approve compensation at AGM
MARKEL GROUP INC.
- CEO Thomas Gayner receives $1.45M in RSUs vesting May 16, 2026; aggregate $4.55M granted to six NEOs.
- Employment agreements extended through Dec 31, 2026 for Gayner, Noble, Cox, Heaton, Grinnan with auto-renewal.
- Shareholders re-elected all 12 directors; say-on-pay approved with ~98% of votes cast.
- Shareholders recommended annual frequency for advisory executive compensation votes.
- KPMG ratified as independent auditor for 2023 with 11.1M votes for.
Key facts
Extracted from this filing and checked against the source text.
Executive change
SEC 8-K Item 5.02
confidence 0.95
Richard R. Whitt, III retired as Co-Chief Executive Officer at MARKEL GROUP INC..
- Action
- retired
- Role
- Co-Chief Executive Officer
Exact text from the filing
Mr. Whitt, who retired as both the Company’s Co-Chief Executive Officer and a member of the Board on December 31, 2022, remains an employee of the Company.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Robert C. Cox changed role as President and Chief Operating Officer, Global Insurance at MARKEL GROUP INC..
- Action
- became
- Role
- President and Chief Operating Officer, Global Insurance
Exact text from the filing
Effective January 1, 2023, Mr. Cox became the President and Chief Operating Officer, Global Insurance, for the Company's insurance operations, reporting to Mr. Noble, and consequently ceased to be an executive officer of the Company.
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
MARKEL GROUP INC. shareholders approved Election of Directors to serve until the 2024 Annual Meeting of Shareholders at the 2023-05-17 meeting.
- Proposal
- director election
- Outcome
- passed
- Meeting
- 2023-05-17
Exact text from the filing
Election of Directors Director For Against Abstain Broker Non-Votes Mark M. Besca 9,922,856 234,116 13,629 1,423,638 K. Bruce Connell 9,880,695 276,053 13,853 1,423,638 Lawrence A. Cunningham 9,986,720 165,462 18,419 1,423,638 Thomas S. Gayner 9,616,165 538,356 16,080 1,423,638 Greta J. Harris 9,477,384 664,814 28,403 1,423,638 Morgan E. Housel 9,549,565 604,960 16,076 1,423,638 Diane Leopold 9,937,839 217,547 15,215 1,423,638 Anthony F. Markel 9,931,322 227,971 11,308 1,423,638 Steven A. Markel 9,655,153 504,342 11,106 1,423,638 Harold L. Morrison, Jr. 9,941,726 216,576 12,299 1,423,638 Michael O'Reilly 9,489,131 669,125 12,345 1,423,638 A. Lynne Puckett 8,753,800 1,400,170 16,631 1,423,638
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
MARKEL GROUP INC. shareholders approved Advisory vote on frequency of shareholder advisory votes on executive compensation at the 2023-05-17 meeting.
- Proposal
- say on pay frequency
- Outcome
- passed
- Meeting
- 2023-05-17
Exact text from the filing
Advisory Vote on Frequency of Advisory Votes on Approval of Executive Compensation One Year Two Years Three Years Abstain Broker Non-Votes 9,888,222 69,967 198,607 13,805 1,423,638
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
MARKEL GROUP INC. shareholders approved Advisory vote to approve executive compensation at the 2023-05-17 meeting.
- Proposal
- say on pay
- Outcome
- passed
- Meeting
- 2023-05-17
Exact text from the filing
Advisory Vote on Approval of Executive Compensation For Against Abstain Broker Non-Votes 9,865,085 198,594 106,922 1,423,638
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
MARKEL GROUP INC. shareholders approved Ratification of selection of KPMG LLP as independent registered public accounting firm at the 2023-05-17 meeting.
- Proposal
- auditor ratification
- Outcome
- passed
- Meeting
- 2023-05-17
Exact text from the filing
Ratification of Selection of Independent Registered Public Accounting Firm For Against Abstain Broker Non-Votes 11,113,172 468,356 12,711 N/A
View on SEC.gov
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