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Palomar Holdings Executive Compensation (FY25)

PLMR · Executive and director compensation, fiscal 2022 to 2025
Chief executive, fiscal 2025
◇
Mac Armstrong
Latest say-on-pay support
=
May 21, 2026
Chief executive pay ratio
◇
To the median employee
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Data as of October 19, 2026Latest filing (8-K): May 26, 2026
10 filings cited on this page
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257 figures on this page: 251 cited to the filing that reported them, 6 calculated from figures it prints. See the citations

More on Palomar Holdings

Five data products on this company. Each one is requested through the developer setup page.
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 — Mac Armstrong: $5,469,403 → $8,961,148 (63.8% higher)
Say-on-pay support: 92.1% → 92.6% (0.5 points higher)
CEO pay ratio: 33:1 → 65:1 (97.0% higher)

Frequently asked questions

Answers drawn from the data on this page.
Who is Palomar Holdings' chief executive and what were they paid?
Total compensation for Mac Armstrong, Chairman of the Board and Chief Executive Officer, came to $8,961,148 in fiscal 2025. Compared with the $5,469,403 reported for fiscal 2024, Armstrong's total was 63.8% higher.
What was Palomar Holdings' say-on-pay result?
For fiscal 2025, shareholders backed the say-on-pay proposal with 92.6% of votes cast for or against in favor at the meeting held May 21, 2026.
Which companies are in Palomar Holdings' peer group?
The disclosed peer group includes Assured Guaranty, First American Financial Corp., Hamilton Insurance Group, HCI Group and Kemper Corporation, among others.
What is Palomar Holdings' chief executive pay ratio?
The disclosed chief executive pay ratio for fiscal 2025 is 65:1, against median employee compensation of $137,979.

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
Mac Armstrong
Chief Executive Officer and Chairman of the Board
◇—◇◇◇—◇◇
Angela Grant
Chief Legal Officer
◇—◇◇◇—◇◇
Michelle Johnson
Chief Talent & Diversity Officer
◇—◇◇◇—◇◇
Christopher Uchida
Chief Financial Officer
◇—◇◇◇—◇◇
Jon Christianson
President Chief Underwriting Officer
◇—◇◇◇—◇◇
Jonathan Knutzen
Chief Risk Officer
◇—◇◇◇—◇◇
Heath Fisher
Former President
Departed during or after this year
◇—————◇◇
Fiscal 2023
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Mac Armstrong
Chief Executive Officer and Chairman of the Board
◇—◇—◇—◇◇
Chris Uchida
Chief Financial Officer
◇—◇—◇—◇◇
Jon Christianson
President
◇—◇—◇—◇◇
Jon Knutzen
Chief Risk Officer
◇—◇—◇—◇◇
Angela Grant
Chief Legal Officer
◇—◇—◇—◇◇
Fiscal 2024
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Mac Armstrong
Chairman of the Board and Chief Executive Officer
◇—◇—◇—◇◇
Chris Uchida
Chief Financial Officer
◇—◇—◇—◇◇
Jon Christianson
President
◇—◇—◇—◇◇
Rodolphe Hervé
Chief Operating Officer
◇—◇—◇—◇◇
Jon Knutzen
Chief Risk Officer
◇—◇—◇—◇◇
Fiscal 2025
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Mac Armstrong
Chairman of the Board and Chief Executive Officer
◇—◇—◇—◇◇
Chris Uchida
Chief Financial Officer
◇—◇—◇—◇◇
Jon Christianson
President
◇—◇—◇—◇◇
Jon Knutzen
Chief Risk Officer
◇—◇—◇—◇◇
Rodolphe Hervé
Chief Operating 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
Chris UchidaRSU◇——◇——◇
Chris UchidaPSU◇◇◇—◇—◇
Jon ChristiansonPSU◇◇◇—◇—◇
Jon ChristiansonRSU◇——◇——◇
Jon KnutzenPSU◇◇◇—◇—◇
Jon KnutzenRSU◇——◇——◇
Mac ArmstrongRSU◇——◇——◇
Mac ArmstrongPSU◇◇◇—◇—◇
Rodolphe HervéRSU◇——◇——◇
Rodolphe HervéPSU◇◇◇—◇—◇
Fiscal 2022, 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
Mac ArmstrongRSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
Jon KnutzenRSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
Jon ChristiansonRSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
Chris UchidaRSU◇◇——
RSU◇◇——
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.
Chris Uchida
Chief Financial Officer · Terms as described in the company’s compensation discussion · citing a 2025 filing
Severance multiple◇
Change-in-control multiple◇
Equity acceleration on change in control◇
Benefits continuation on change in control◇
Benefits continuation◇
Non-solicit period◇
Jon Christianson
President · Terms as described in the company’s compensation discussion · citing a 2025 filing
Severance multiple◇
Severance cash amount◇
Change-in-control multiple◇
Equity acceleration on change in control◇
Benefits continuation on change in control◇
Benefits continuation◇
Non-solicit period◇
Jon Knutzen
Chief Risk Officer · Terms as described in the company’s compensation discussion · citing a 2025 filing
Severance multiple◇
Severance base◇
Change-in-control multiple◇
Equity acceleration on change in control◇
Benefits continuation on change in control◇
Benefits continuation◇
Non-solicit period◇
Mac Armstrong
Chairman of the Board and Chief Executive Officer · Terms as described in the company’s compensation discussion · citing a 2025 filing
Severance multiple◇
Change-in-control multiple◇
Equity acceleration on change in control◇
Benefits continuation on change in control◇
Benefits continuation◇
Non-solicit period◇

Director compensation

What each non-employee director was paid.
Fiscal 2025
DirectorFees earned in cashStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Richard H. Taketa
Lead independent director
◇◇————◇
Catriona Fallon
◇◇————◇
Martha Notaras
◇◇————◇
Daryl Bradley
◇◇————◇
Daina Middleton
◇◇————◇
Thomas Bradley
◇◇————◇
Mac Armstrong 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.

Disclosed peer group

The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.
Fiscal 2025
  • Assured Guaranty AGO
  • First American Financial Corp. FAF
  • Hamilton Insurance Group HG
  • HCI Group HCI
  • Kemper Corporation KMPR
  • Kinsale Capital Group KNSL
  • Lemonade, Inc. LMND
  • RLI Corp. RLI
  • Safety Insurance Group SAFT
  • Selective Insurance Group SIGI
  • Skyward Specialty Insurance SKWD
  • Steward Information Services STC
  • The Baldwin Insurance Group BWIN
  • The Hanover Insurance Group THG
  • White Mountains Insurance Group WTM

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 27, 2021=◇◇◇

Chief executive pay ratio

As calculated and reported by the company.
Ratio
◇
Median employee compensation
◇
Chief executive total compensation
◇

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Sample answer — “What is the CEO’s total compensation?”
- Mac Armstrong (Chairman of the Board and Chief Executive Officer), FY2025 total compensation $8,961,148 (base salary $1,243,269) [exec_comp, SEC accession 0002071876-26-000105, filed 2026-04-10]

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What this page does not include

Everything above is a fact Palomar Holdings disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Peer benchmarking
Where Palomar 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 — $499
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.
257 figures on this page: 251 cited to the filing that reported them, 6 calculated from figures it prints.
251 cited to the filing
6 calculated from the filing

Documents cited

  1. 0001193125-26-239334
    Item 5.07 Submission of Matters to a Vote of Security Holders
  2. 0002071876-26-000105
    2025 Director Compensation Table · 2025 Grant of Plan-Based Awards Table · 2025 OUTSTANDING EQUITY AWARDS AT FISCAL YEAR-END · CEO Pay Ratio · and 1 more section
  3. 0001437749-25-018147
    Item 5.07 Submission of Matters to a Vote of Security Holders
  4. 0001171200-25-000184
    Compensation Discussion and Analysis · SUMMARY COMPENSATION TABLE · Summary Compensation Table
  5. 0001437749-24-018181
    Item 5.07 Submission of Matters to a Vote of Security Holders
  6. 0001171200-24-000165
    SUMMARY COMPENSATION TABLE
  7. 0001558370-23-010468
  8. 0001171200-23-000236
    Executive Compensation Tables
  9. 0001558370-22-009480
    Item 5.07 Submission of Matters to a Vote of Security Holders
  10. 0001558370-21-007809
    Item 5.07 Submission of Matters to a Vote of Security Holders
Cite this data
This page is free to cite. Attribution we ask for:
Velarion, “Palomar Holdings executive compensation, FY2022–FY2025.” https://intel.velarion.ai/comp/PLMR (accessed 2026).
Short form: data: Velarion

The paid brief for Palomar Holdings

Positioning against its disclosed peers, the governance read, incentive design, and the CD&A alignment analysis; the full peer table; a committee-ready PDF.
$1,500 for the Executive Compensation Report. Both reports for $2,400.
Get the executive briefGet the board briefNo account needed.
10 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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Insurance rankings

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

Peers Palomar Holdings discloses

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

Assured GuarantyFirst American Financial Corp.Hamilton Insurance GroupHCI GroupKemper CorporationKinsale Capital GroupLemonade, Inc.RLI Corp.Safety Insurance GroupSelective Insurance GroupSkyward Specialty InsuranceSteward Information ServicesThe Baldwin Insurance GroupThe Hanover Insurance GroupWhite Mountains Insurance Group

Terms on this page

Say-on-Pay VoteCEO Pay RatioMedian Employee CompensationAll companies

Free to read and cite. Redistribution or bulk use of the dataset requires a data license. Talk to us about the data license.

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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