Insurance
Bowhead Specialty Holdings Executive Compensation (FY25)
BOW · Executive and director compensation, fiscal 2024 to 2025
Chief executive, fiscal 2025 ◇ Stephen Sills |
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Data as of October 22, 2026Latest filing (DEF 14A): March 16, 2026
2 filings cited on this page
Method: intel.velarion.ai/methodology
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Published by Velarion Company Intelligence
Velarion Member, one year
75 figures on this page, cited to the filing that reported them. See the citations
This company is not required to report a chief executive pay ratio.
What changed from fiscal 2024 to fiscal 2025
The figures that moved, and by how much. Analysis of these figures is part of the Velarion platform.
Chief executive total compensation — Stephen Sills: $4,678,933 → $4,309,280 (7.9% lower)
Frequently asked questions
Answers drawn from the data on this page.
Who is Bowhead Specialty Holdings' chief executive and what were they paid?
Stephen Sills was paid $4,309,280 in total compensation as Chief Executive Officer for fiscal 2025. Sills' total was 7.9% lower than the $4,678,933 reported for fiscal 2024.
What was Bowhead Specialty Holdings' say-on-pay result?
The company is an emerging growth company and is exempt from the advisory say-on-pay vote.
Executive compensation
Every element reported for each named executive officer, by fiscal year.
Fiscal 2024
| Officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension and deferred earnings | All other compensation | Total |
|---|---|---|---|---|---|---|---|---|
Stephen Sills Chief Executive Officer | ◇ | ◇ | ◇ | — | — | — | ◇ | ◇ |
David Newman Chief Underwriting Officer | ◇ | ◇ | ◇ | — | — | — | ◇ | ◇ |
Brad Mulcahey Chief Financial Officer | ◇ | ◇ | ◇ | — | — | — | ◇ | ◇ |
Fiscal 2025
| Officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension and deferred earnings | All other compensation | Total |
|---|---|---|---|---|---|---|---|---|
Stephen Sills Chief Executive Officer | ◇ | ◇ | ◇ | — | — | — | ◇ | ◇ |
David Newman Chief Underwriting Officer | ◇ | ◇ | ◇ | — | — | — | ◇ | ◇ |
Brad Mulcahey Chief Financial Officer | ◇ | ◇ | ◇ | — | — | — | ◇ | ◇ |
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. A negative change in pension value is shown but, as the company reports it, not included in the total.
Equity awards granted
Individual awards as disclosed: type, date, unit counts at each level, and grant date value.
Fiscal 2025
| Officer | Award | Grant date | Threshold units | Target units | Units granted | Maximum units | Exercise price | Grant date fair value |
|---|---|---|---|---|---|---|---|---|
| Brad Mulcahey | OTHER | — | — | — | — | — | — | ◇ |
| David Newman | OTHER | — | — | — | — | — | — | ◇ |
| Stephen Sills | OTHER | — | — | — | — | — | — | ◇ |
Fiscal 2024 are included in the PDF.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. Threshold, target and maximum apply only to performance awards and are never shown for time-based or option awards.
Outstanding awards
Awards still held at fiscal year end.
As disclosed at fiscal 2025 year end
| Officer | Award | Unvested units | Market value of unvested units | Exercise price | Expires |
|---|---|---|---|---|---|
| David Newman | RSU | ◇ | ◇ | — | — |
| RSU | ◇ | ◇ | — | — | |
| Stephen Sills | RSU | ◇ | ◇ | — | — |
| RSU | ◇ | ◇ | — | — | |
| RSU | ◇ | ◇ | — | — | |
| RSU | ◇ | ◇ | — | — | |
| Brad Mulcahey | RSU | ◇ | ◇ | — | — |
| RSU | ◇ | ◇ | — | — |
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.
Severance and change in control
The terms as written in the agreements.
Stephen Sills
Chief Executive Officer · Employment agreement
| Non-compete period | ◇ |
| Non-solicit period | ◇ |
Director compensation
What each non-employee director was paid.
Fiscal 2025
| Director | Fees earned in cash | Stock awards | Option awards | Non-equity incentive | Pension and deferred earnings | All other compensation | Total |
|---|---|---|---|---|---|---|---|
David Foy | ◇ | ◇ | — | — | — | — | ◇ |
Fabian J. Fondriest | — | ◇ | — | — | — | — | ◇ |
Angela Brock-Kyle | — | ◇ | — | — | — | — | ◇ |
Tom Baker | ◇ | ◇ | — | — | — | — | ◇ |
Ava Schnidman | ◇ | ◇ | — | — | — | — | ◇ |
David Holman | ◇ | ◇ | — | — | — | — | ◇ |
Price Lowenstein | ◇ | — | — | — | — | — | ◇ |
Matthew Botein, Stephen Sills, Troy Van Beek and Zhak Cohen served on the board in fiscal 2025 and received no compensation for board service. Executive directors are typically paid through their executive roles, shown above.
Earlier years are included in the PDF.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.
Director fee schedule
The standing retainers and premiums the board pays, as published.
| Board cash retainer | ◇ |
| Board equity retainer | ◇ |
| Total board retainer | ◇ |
| Audit committee chair | ◇ |
| Compensation committee chair | ◇ |
| Nominating and governance chair | ◇ |
Equity is delivered as restricted stock units.
Disclosed peer group
The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.
Say-on-pay history
Shareholder support for the compensation program, by year.
This company is an emerging growth company and is exempt from the advisory vote on executive compensation. There is no vote to report.
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- Stephen Sills (Chief Executive Officer), FY2025 total compensation $4,309,280 (base salary $675,000) [exec_comp, SEC accession 0002002473-26-000006, filed 2026-03-16]What this page does not include
Everything above is a fact Bowhead Specialty Holdings disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Written compensation analysis
A read of the pay program as designed and as paid: incentive structure, goal rigor, the alignment between the committee's stated philosophy and what the numbers show.
Executive Compensation Report — $1,500Board and governance analysis
Committee composition, independence, director pay positioning, and the governance provisions read together rather than listed.
Board Governance Report — $499Realizable pay
What the awards above are actually worth today against what they were valued at on grant, and what the gap says about the pay-for-performance link.
Velarion IntelligenceAdviser switching and vote outcomes
Two datasets covering compensation-adviser changes and what followed a contested vote. Both are part of the Velarion platform.
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Velarion IntelligenceCitations
Every figure on this page is cited to the document that reported it. Select any figure to see its citation.
75 figures on this page, cited to the filing that reported them.
75 cited to the filing
Documents cited
- 0002002473-26-000006EXECUTIVE COMPENSATION
- 0002002473-25-000008
Cite this data
This page is free to cite. Attribution we ask for:
Velarion, “Bowhead Specialty Holdings executive compensation, FY2024–FY2025.” https://intel.velarion.ai/comp/BOW (accessed 2026).
Short form: data: Velarion
The Bowhead Specialty Holdings brief, $1,500
Positioning against its disclosed peers, the governance read, incentive design, and the CD&A alignment analysis; the full peer table; a committee-ready PDF.
From $499 for the board report; $2,400 for both.
2 filings cited on this page
Method: intel.velarion.ai/methodology
A report that fails to generate is refunded in full
Published by Velarion Company Intelligence
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Cite this data
APA
Velarion Company Intelligence. (2026). Velarion database: executive and board compensation data (Version 2026Q3) [Data set]. Zenodo. https://doi.org/10.5281/zenodo.22283854
BibTeX
@misc{velarionData2026,
author = {{Velarion Company Intelligence}},
title = {Velarion database: executive and board compensation data},
year = {2026},
version = {2026Q3},
doi = {10.5281/zenodo.22283854},
publisher = {Zenodo},
url = {https://doi.org/10.5281/zenodo.22283854}
}