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Old Republic International Executive Compensation (FY25)

ORI · Executive and director compensation, fiscal 2022 to 2025
Data as of September 7, 2026Latest filing (8-K): May 27, 2026
297 figures on this page: 287 cited to the filing that reported them, 10 calculated from figures it prints. See the citations
Total compensation for Craig Smiddy, President and Chief Executive Officer, came to $8,238,993 in fiscal 2025, and Smiddy's total moved 7.3% higher from the $7,679,154 reported for fiscal 2024. The disclosed chief executive pay ratio for fiscal 2025 is 98:1, against median employee compensation of $83,798. The say-on-pay proposal drew 99.0% of votes cast for or against in favor at the meeting held May 21, 2026 for fiscal 2025. Companies named in the disclosed peer group include American Financial Group, Inc., American International Group, Inc., Chubb Limited, Cincinnati Financial Corporation and CNA Financial Corporation, among others.
Chief executive, fiscal 2025
◇
Craig Smiddy
Latest say-on-pay support
=
May 21, 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 — Craig Smiddy: $7,679,154 → $8,238,993 (7.3% higher)
Say-on-pay support: 97.2% → 99.0% (1.8 points higher)
CEO pay ratio: 92:1 → 98:1 (6.5% higher)

Frequently asked questions

Answers drawn from the data on this page.
Who is Old Republic International's chief executive and what were they paid?
Total compensation for Craig Smiddy, President and Chief Executive Officer, came to $8,238,993 in fiscal 2025. Smiddy's total moved 7.3% higher from the $7,679,154 reported for fiscal 2024.
What was Old Republic International's say-on-pay result?
The say-on-pay proposal drew 99.0% of votes cast for or against in favor at the meeting held May 21, 2026 for fiscal 2025.
Which companies are in Old Republic International's peer group?
Companies named in the disclosed peer group include American Financial Group, Inc., American International Group, Inc., Chubb Limited, Cincinnati Financial Corporation and CNA Financial Corporation, among others.
What is Old Republic International's chief executive pay ratio?
The disclosed chief executive pay ratio for fiscal 2025 is 98:1, against median employee compensation of $83,798.

Executive compensation

Every element reported for each named executive officer, by fiscal year.
Fiscal 2022
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Craig Smiddy
President and Chief Executive Officer
◇◇◇◇——◇◇
Carolyn Monroe
Senior Vice President Title
◇—◇◇◇—◇◇
Stephen Oberst
Executive Vice President
◇◇◇◇——◇◇
W. Todd Gray
Executive Vice President and Treasurer
◇◇◇◇——◇◇
Frank Sodaro
Senior Vice President and Chief Financial Officer
◇◇◇◇——◇◇
Fiscal 2023
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Craig Smiddy
President and Chief Executive Officer
◇—◇◇◇—◇— not reconciled
Stephen Oberst
Executive Vice President
◇—◇◇◇◇◇◇
W. Todd Gray
Executive Vice President and Treasurer
◇—◇◇◇—◇◇
Frank Sodaro
Senior Vice President and Chief Financial Officer
◇—◇◇◇—◇◇
Fiscal 2024
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Craig Smiddy
President and Chief Executive Officer
◇—◇◇◇—◇◇
Stephen Oberst
Executive Vice President
◇—◇◇◇—◇◇
W. Todd Gray
Executive Vice President and Treasurer
◇—◇◇◇—◇◇
Carolyn Monroe
Senior Vice President
◇—◇◇◇—◇◇
Frank Sodaro
Senior Vice President and Chief Financial Officer
◇—◇◇◇—◇◇
Fiscal 2025
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Craig Smiddy
President and Chief Executive Officer
◇—◇◇◇—◇◇
Stephen Oberst
Executive Vice President
◇—◇◇◇◇◇◇
W. Todd Gray
Executive Vice President and Treasurer
◇—◇◇◇—◇◇
Carolyn Monroe
Senior Vice President Title
◇—◇◇◇—◇◇
Frank Sodaro
Senior Vice President and 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
OfficerAwardGrant dateThreshold unitsTarget unitsUnits grantedMaximum unitsExercise priceGrant date fair value
PRPRSU———◇——◇
PRPPSU—◇◇—◇—◇
PRPRSU———◇——◇
PRPRSU———◇——◇
PRPOPTION———◇—◇◇
PRPRSU———◇——◇
PRPRSU———◇——◇
PRPOPTION———◇—◇◇
PRPPSU—◇◇—◇—◇
PRPPSU—◇◇—◇—◇
PRPPSU—◇◇—◇—◇
PRPOPTION———◇—◇◇
PRPPSU—◇◇—◇—◇
PRPOPTION———◇—◇◇
Fiscal 2022 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
W. GrayOption◇—◇—
Option◇—◇—
RSU◇◇——
Option◇—◇—
PSU◇◇——
Frank SodaroOption◇—◇—
Option◇—◇—
RSU◇◇——
Option◇—◇—
PSU◇◇——
Carolyn MonroeOption◇—◇—
Option◇—◇—
PSU◇◇——
RSU◇◇——
Option◇—◇—
Stephen OberstPSU◇◇——
Option◇—◇—
Option◇—◇—
Option◇—◇—
RSU◇◇——
Craig SmiddyOption◇—◇—
Option◇—◇—
PSU◇◇——
RSU◇◇——
Option◇—◇—
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
Spencer LeRoy III
Board chair
◇◇————◇
Steven J. Bateman
◇◇————◇
Steven R. Walker
Lead independent director
◇◇————◇
Peter B. McNitt
◇◇————◇
Michael D. Kennedy
◇◇————◇
Lisa J. Caldwell
◇◇————◇
Barbara A. Adachi
◇◇————◇
Fredricka Taubitz
◇◇————◇
Charles J. Kovaleski
◇◇————◇
J. Eric Smith
◇◇————◇
Therace M. Risch
◇◇————◇
Glenn W. Reed
◇◇————◇
John M. Dixon
◇◇————◇
Craig R. Smiddy 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◇
Board chair premium◇
Lead independent director premium◇
Audit committee chair◇
Compensation committee chair◇
Compensation committee member◇
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.
Fiscal 2025
  • American Financial Group, Inc. AFG
  • American International Group, Inc. AIG
  • Chubb Limited CB
  • Cincinnati Financial Corporation CINF
  • CNA Financial Corporation CNA
  • Fidelity National Financial, Inc. FNF
  • First American Financial Corporation FAF
  • Stewart Information Services Corporation STC
  • The Hartford Insurance Group, Inc. HIG
  • The Travelers Companies, Inc. TRV
  • W. R. Berkley Corporation WRB

Say-on-pay history

Shareholder support for the compensation program, by year.
YearMeetingSupportVotes forVotes againstAbstentions
2025May 21, 2026=◇◇◇
2024May 22, 2025=◇◇◇
2023May 23, 2024=◇◇◇
2022May 25, 2023=◇◇◇
2021May 26, 2022=◇◇◇
2020May 28, 2021=◇◇◇
2019May 22, 2020=◇◇◇
2018May 24, 2019=◇◇◇
2016May 26, 2017=◇◇◇
2015May 27, 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 Old Republic International disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Peer benchmarking
Where Old Republic International 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.
297 figures on this page: 287 cited to the filing that reported them, 10 calculated from figures it prints.
287 cited to the filing
10 calculated from the filing

Documents cited

  1. 0000074260-26-000074
  2. 0001140361-26-012317
    2025 Director Compensation · CEO Pay Ratio Disclosure · Director Compensation · Grants of Plan-Based Awards in 2025 · and 2 more sections
  3. 0000074260-25-000106
  4. 0001140361-25-010962
    Summary Compensation Table
  5. 0000074260-24-000088
  6. 0001140361-24-016091
    Summary Compensation Table
  7. 0000074260-23-000046
  8. 0000074260-22-000044
  9. 0000074260-21-000058
  10. 0000074260-20-000069
  11. 0000074260-19-000041
  12. 0000074260-17-000039
  13. 0000074260-16-000110
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Velarion, “Old Republic International executive compensation, FY2022–FY2025.” https://intel.velarion.ai/comp/ORI (accessed 2026).
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Insurance rankings

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

Peers Old Republic International discloses

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

American Financial Group, Inc.American International Group, Inc.Chubb LimitedCNA Financial CorporationThe Hartford Insurance Group, Inc.The Travelers Companies, Inc.W. R. Berkley Corporation

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}
}
For informational purposes only. Not investment, legal, or compensation advice.  The Pay Desk · Methodology · Terms · Privacy