GBLI finalizes CEO agreement with Joseph W. Brown: $1M salary, $2M bonus, 200K stock options

Global Indemnity Group, LLC

Term runs Oct 21, 2022 through Dec 31, 2023; base salary $1,000,000.
Bonus of $2,000,000 payable in cash by March 15, 2024 if employed through Dec 31, 2023.
Stock options for 200,000 shares vesting 25% each on Nov 1 2022, Feb 1 2023, May 1 2023, Aug 1 2023.
Severance: prorated base salary plus full $2M bonus if terminated without cause before Dec 31, 2023.
Options fully accelerate if terminated without cause before Aug 1, 2023.

item 5.02 item 9.01

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Appointed

Joseph W. Brown

Chief Executive Officer

GBLI · Global Indemnity Group, LLC

Effective: 2022-10-21
Filed: November 22, 2022, 6:59 PM ET

Global Indemnity Group, LLC (“GBLI”) and Joseph W. Brown principally agreed to the terms of a Chief Executive Officer Agreement (“CEO Agreement”) on October 21, 2022 setting forth the principal terms of Mr. Brown’s employment as Chief Executive Officer of GBLI.

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Executive change SEC 8-K Item 5.02 confidence 0.95

Joseph W. Brown was appointed as Chief Executive Officer at Global Indemnity Group, LLC.

Action: appointed
Role: Chief Executive Officer

Exact text from the filing

Global Indemnity Group, LLC (“GBLI”) and Joseph W. Brown principally agreed to the terms of a Chief Executive Officer Agreement (“CEO Agreement”) on October 21, 2022 setting forth the principal terms of Mr. Brown’s employment as Chief Executive Officer of GBLI.

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Global Indemnity Group, LLC filing history →

Source: SEC EDGAR

accession 0001193125-22-291235

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