leadership
confidence high
sentiment neutral
materiality 0.40
JRVR approves $1.57M retention awards for 3 NEOs; amends CEO severance to include STI target
James River Group Holdings, Inc.
- Retention awards of aggregate ~$1.57M approved for three named executive officers, payable in 2024/2025 installments.
- CFO Sarah Doran awarded $572K; Richard Schmitzer $670K; Michael Hoffmann $332K; accelerated on change of control or qualifying termination.
- CEO Frank D'Orazio amended employment agreement on July 30, 2024, to incorporate STI target into severance.
- Severance: base salary plus STI target, paid monthly for 36 months after termination without cause/change of control.