Markel appoints Mike Heaton as COO; revamps executive compensation metrics

MARKEL GROUP INC.

Michael R. Heaton appointed EVP and COO, effective Feb 21, 2024, overseeing day-to-day operations.
Compensation Committee replaced 5-year CAGR in book value with 5-year average operating income as metric.
New service-based equity award for executives requires additional 5-year holding after 3-year vesting.
Base salary increased for CEO Gayner ($50K), Heaton ($40K), Noble ($40K), Grinnan ($20K); equity targets raised for all five.
Performance-based equity now 75% of total target; service-based (new) accounts for 25% for 2024.

item 5.02 item 9.01

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Appointed

Michael R. Heaton

Executive Vice President and Chief Operating Officer

MKL · MARKEL GROUP INC.

Effective: 2024-02-21
Filed: February 26, 2024, 6:59 PM ET

On February 21, 2024, the Board of Directors (the Board) of Markel Group Inc. (the Company) appointed Michael R. Heaton as the Company’s Executive Vice President and Chief Operating Officer.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 1.0

Michael R. Heaton was appointed as Executive Vice President and Chief Operating Officer at MARKEL GROUP INC..

Action: appointed
Role: Executive Vice President and Chief Operating Officer

Exact text from the filing

On February 21, 2024, the Board of Directors (the Board) of Markel Group Inc. (the Company) appointed Michael R. Heaton as the Company’s Executive Vice President and Chief Operating Officer.

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Source: SEC EDGAR

accession 0001096343-24-000028

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