secwatch.observer — SEC 8-K summary
======================================

Issuer:     PRINCIPAL FINANCIAL GROUP INC (PFG)
CIK:        0001126328
Form:       8-K
Filed at:   2024-11-14T23:59:59+00:00
Accession:  0001104659-24-119004
Event type: leadership
Sentiment:  neutral
Materiality: 0.60
Item codes: 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Principal Financial names Deanna Strable CEO effective Jan 7, 2025; Dan Houston becomes Executive Chairman
--------------------------------------------------------------------------------

- Deanna Strable, current President and COO, appointed CEO effective January 7, 2025; Houston becomes Executive Chairman.
- Strable's CEO compensation: $1M base salary, 300% target incentive, $8.5M long-term equity grant.
- Houston's Executive Chairman compensation: $1.1M base salary, 375% target incentive, $4.24M RSU grant.
- Strable joined Principal in 1990; served as CFO from 2017 to 2024 and President U.S. Insurance Solutions before COO role.
- Houston retires after 40 years with the company, 10 years as CEO; market cap grew from $13B to over $20B under his tenure.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1126328/000110465924119004/0001104659-24-119004-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1126328/000110465924119004/tm2428254d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-119004

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer