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Employers Holdings Executive Compensation (FY25)

EIG · Executive and director compensation, fiscal 2023 to 2025
Data as of September 7, 2026Latest filing (8-K): May 29, 2026
252 figures on this page: 241 cited to the filing that reported them, 11 calculated from figures it prints. See the citations
Total compensation for Katherine Antonello, President and Chief Executive Officer, came to $3,261,998 in fiscal 2025, and compared with the $3,746,839 reported for fiscal 2024, Antonello's total was 12.9% lower. For fiscal 2025, the company reported a chief executive pay ratio of 30:1, against median employee compensation of $108,989. Shareholders recorded 98.6% support for the say-on-pay proposal at the meeting held May 28, 2026 for fiscal 2025. Companies named in the disclosed peer group include AMERISAFE, Inc., Donegal Group Inc., Global Indemnity Group, LLC, HCI Group, Inc. and Horace Mann Educators Corp, among others.
Chief executive, fiscal 2025
◇
Katherine Antonello
Median of the other named officers
$829,858
5 officers, excluding the chief executive
Latest say-on-pay support
=
May 28, 2026
Chief executive pay ratio
◇
To the median employee
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 — Katherine Antonello: $3,746,839 → $3,261,998 (12.9% lower)
CEO pay ratio: 34:1 → 30:1 (11.8% lower)

Frequently asked questions

Answers drawn from the data on this page.
Who is Employers Holdings' chief executive and what were they paid?
Total compensation for Katherine Antonello, President and Chief Executive Officer, came to $3,261,998 in fiscal 2025. Compared with the $3,746,839 reported for fiscal 2024, Antonello's total was 12.9% lower.
What was Employers Holdings' say-on-pay result?
Shareholders recorded 98.6% support for the say-on-pay proposal at the meeting held May 28, 2026 for fiscal 2025.
Which companies are in Employers Holdings' peer group?
Companies named in the disclosed peer group include AMERISAFE, Inc., Donegal Group Inc., Global Indemnity Group, LLC, HCI Group, Inc. and Horace Mann Educators Corp, among others.
What is Employers Holdings' chief executive pay ratio?
For fiscal 2025, the company reported a chief executive pay ratio of 30:1, against median employee compensation of $108,989.

Executive compensation

Every element reported for each named executive officer, by fiscal year.
Fiscal 2023
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Katherine Antonello
President and Chief Executive Officer
◇—◇—◇—◇◇
Michael Paquette
Executive Vice President, Chief Financial Officer
◇—◇—◇—◇◇
Lori Brown
Executive Vice President, Chief Legal Officer
◇—◇—◇—◇◇
Jeffrey Shaw
Former Executive Vice President, Chief Information Officer
Departed during or after this year
◇—◇—◇—◇◇
John Mutschink
Executive Vice President, Chief Administrative Officer
◇—◇—◇—◇◇
Fiscal 2024
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Katherine Antonello
President and Chief Executive Officer
◇—◇—◇—◇◇
Michael Paquette
Former Executive Vice President, Chief Financial Officer
Departed during or after this year
◇—◇—◇—◇◇
Lori Brown
Executive Vice President, Chief Legal Officer
◇—◇—◇—◇◇
John Mutschink
Executive Vice President, Chief Administrative Officer
◇—◇—◇—◇◇
Ann Marie Smith
Senior Vice President, Chief Actuarial and Underwriting Officer
◇—◇—◇—◇◇
Fiscal 2025
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Katherine Antonello
President and Chief Executive Officer
◇—◇—◇—◇◇
Michael Pedraja
Executive Vice President, Chief Financial Officer
◇◇◇—◇—◇◇
Lori Brown
Former Executive Vice President, Chief Legal Officer
Departed during or after this year
◇—◇—◇—◇◇
John Mutschink
Executive Vice President, Chief Administrative Officer
◇—◇—◇—◇◇
Ann Marie Smith
Senior Vice President, Chief Actuarial and Underwriting Officer
◇—◇—◇—◇◇
Michael Paquette
Former Executive Vice President, Chief Financial Officer
Departed during or after this year
◇—————◇◇
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
OfficerAwardGrant dateThreshold unitsTarget unitsUnits grantedMaximum unitsExercise priceGrant date fair value
Ann Marie SmithRSU◇——◇——◇
Ann Marie SmithPSU◇—◇—◇—◇
John M. MutschinkPSU◇—◇—◇—◇
John M. MutschinkRSU◇——◇——◇
Katherine H. AntonelloRSU◇——◇——◇
Katherine H. AntonelloPSU◇—◇—◇—◇
Lori A. BrownRSU◇——◇——◇
Lori A. BrownPSU◇—◇—◇—◇
Michael A. PedrajaPSU◇—◇—◇—◇
Michael A. PedrajaPSU◇—◇—◇—◇
Michael A. PedrajaRSU◇——◇——◇
Fiscal 2023, 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
OfficerAwardUnvested unitsMarket value of unvested unitsExercise priceExpires
Lori BrownRSU◇◇——
RSU◇◇——
PSU◇◇——
RSU◇◇——
PSU◇◇——
RSU◇◇——
John MutschinkRSU◇◇——
PSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
Katherine AntonelloPSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
Michael PedrajaRSU◇◇——
RSU◇◇——
PSU◇◇——
Ann Marie SmithPSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
PSU◇◇——
RSU◇◇——
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Director compensation

What each non-employee director was paid.
Fiscal 2025
DirectorFees earned in cashStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Jeanne L. Mockard
Board chair · Lead independent director
◇◇———◇◇
Michael J. McColgan
◇◇———◇◇
Barbara A. Higgins
◇◇———◇◇
Alejandro "Alex" Perez-Tenessa
◇◇———◇◇
John M. de Figueiredo
◇◇———◇◇
Steven P. Sorenson
◇◇———◇◇
Michael J. McSally
◇————◇◇
James R. Kroner
◇————◇◇
Katherine H. Antonello and William B. Pestcoe 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 equity retainer◇
Board chair premium◇
Compensation committee member◇

Disclosed peer group

The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.
Fiscal 2025
  • AMERISAFE, Inc. AMSF
  • Donegal Group Inc. DGICA
  • Global Indemnity Group, LLC GBLI
  • HCI Group, Inc. HCI
  • Horace Mann Educators Corp HMN
  • Kinsale Capital Group, Inc. KNSL
  • Lemonade, Inc. LMND
  • NI Holdings, Inc. NODK
  • Palomar Holdings, Inc. PLMR
  • ProAssurance Corporation PRA
  • RLI Corp RLI
  • Safety Insurance Group, Inc. SAFT
  • Selective Insurance Group, Inc. SIGI
  • SiriusPoint, Ltd. SPNT
  • Tiptree, Inc. TIPT
  • United Fire Group, Inc. UFCS

Say-on-pay history

Shareholder support for the compensation program, by year.
YearMeetingSupportVotes forVotes againstAbstentions
2025May 28, 2026=◇◇◇
2024May 22, 2025=◇◇◇
2023May 23, 2024=◇◇◇
2022May 25, 2023=◇◇◇
2021May 26, 2022=◇◇◇
2020May 27, 2021=◇◇◇
2019May 28, 2020=◇◇◇
2018May 24, 2019=◇◇◇
2017May 24, 2018=◇◇◇
2016May 25, 2017=◇◇◇
2015May 24, 2016=◇◇◇

Chief executive pay ratio

As calculated and reported by the company.
Ratio
◇
Median employee compensation
◇
Chief executive total compensation
◇
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What this page does not include

Everything above is a fact Employers Holdings disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Peer benchmarking
Where Employers Holdings sits against its disclosed peers — percentile position by role and by pay element, and the ranking behind it. The disclosed peer group is free; comparisons across it are part of the Velarion platform.
Executive Compensation Report — $1,500
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 — $1,500
Board and governance analysis
Committee composition, independence, director pay positioning, and the governance provisions read together rather than listed.
Board Governance Report — $1,200
Realizable 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 Intelligence
Adviser 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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Citations

Every figure on this page is cited to the document that reported it. Select any figure to see its citation.
252 figures on this page: 241 cited to the filing that reported them, 11 calculated from figures it prints.
241 cited to the filing
11 calculated from the filing

Documents cited

  1. 0001379041-26-000040
    Item 5.07 Submission of Matters to a Vote of Security Holders
  2. 0001379041-26-000015
    2025 Director Compensation · 2025 Outstanding Equity Awards at Fiscal Year-End · 2025 Summary Compensation Table · AFI C · and 2 more sections
  3. 0001379041-25-000104
    Item 5.07 Submission of Matters to a Vote of Security Holders
  4. 0001379041-25-000087
    2024 Summary Compensation Table
  5. 0001379041-24-000117
    Item 5.07 Submission of Matters to a Vote of Security Holders
  6. 0001379041-24-000094
    2023 Summary Compensation Table · Executive Compensation Tables
  7. 0001379041-23-000090
  8. 0001379041-22-000069
  9. 0001379041-21-000096
  10. 0001379041-20-000116
  11. 0001379041-19-000108
  12. 0001379041-18-000121
  13. 0001379041-17-000135
  14. 0001379041-16-000337
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Velarion, “Employers Holdings executive compensation, FY2023–FY2025.” https://intel.velarion.ai/comp/EIG (accessed 2026).
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Insurance rankings

Chief executive pay — InsuranceCEO pay ratio — InsuranceSay-on-pay support — Insurance

Peers Employers Holdings discloses

The companies named in EIG's own disclosed peer group.

Donegal Group Inc.HCI Group, Inc.Horace Mann Educators CorpKinsale Capital Group, Inc.Lemonade, Inc.Palomar Holdings, Inc.ProAssurance CorporationSafety Insurance Group, Inc.Selective Insurance Group, Inc.SiriusPoint, Ltd.Tiptree, Inc.United Fire Group, Inc.

Terms on this page

Say-on-Pay VoteCEO Pay RatioMedian Employee CompensationAll companies
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}
}
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