Insurance
ProAssurance Executive Compensation (FY24)
PRA · Executive and director compensation, fiscal 2022 to 2024
Data as of September 7, 2026Latest filing (8-K): May 21, 2025
231 figures on this page: 222 cited to the filing that reported them, 9 calculated from figures it prints. See the citations
Total compensation for Edward L. Rand, Jr., President and Chief Executive Officer, came to $6,226,834 in fiscal 2024, and Rand, Jr.'s total was 67.1% higher than the $3,725,832 reported for fiscal 2023. Shareholders supported the say-on-pay proposal with 94.8% of votes cast for or against in favor at the meeting held May 21, 2025 for fiscal 2024. The disclosed peer group names Amerisafe, Assured Guaranty, Donegal Group, Employers Holdings and Erie Indemnity, among others. The fiscal 2024 disclosure covers 5 named executive officers.
What changed from fiscal 2023 to fiscal 2024
The figures that moved, and by how much. Analysis of these figures is part of the Velarion platform.
Chief executive total compensation — Edward L. Rand, Jr.: $3,725,832 → $6,226,834 (67.1% higher)
Say-on-pay support: 85.2% → 94.8% (9.6 points higher)
Frequently asked questions
Answers drawn from the data on this page.
Who is ProAssurance's chief executive and what were they paid?
Total compensation for Edward L. Rand, Jr., President and Chief Executive Officer, came to $6,226,834 in fiscal 2024. Rand, Jr.'s total was 67.1% higher than the $3,725,832 reported for fiscal 2023.
What was ProAssurance's say-on-pay result?
Shareholders supported the say-on-pay proposal with 94.8% of votes cast for or against in favor at the meeting held May 21, 2025 for fiscal 2024.
Which companies are in ProAssurance's peer group?
The disclosed peer group names Amerisafe, Assured Guaranty, Donegal Group, Employers Holdings and Erie Indemnity, among others.
Executive compensation
Every element reported for each named executive officer, by fiscal year.
Fiscal 2022
| Officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension and deferred earnings | All other compensation | Total |
|---|---|---|---|---|---|---|---|---|
Edward Rand, Jr. Chief Executive Officer and President | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
Jeffrey Lisenby Executive Vice President, Corporate Secretary and General Counsel | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
Dana Hendricks Chief Financial Officer, Treasurer and Executive Vice President | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
Kevin Shook President, Eastern Alliance Insurance Group | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
Fiscal 2023
| Officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension and deferred earnings | All other compensation | Total |
|---|---|---|---|---|---|---|---|---|
Edward L. Rand, Jr. Chief Executive Officer and President | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
Jeffrey P. Lisenby Executive Vice President, Corporate Secretary and General Counsel | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
Kevin M. Shook President, Workers Compensation Insurance | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
Dana S. Hendricks Chief Financial Officer, Treasurer and Executive Vice President | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
Robert D. Francis President, Healthcare Professional Liability | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
Fiscal 2024
| Officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension and deferred earnings | All other compensation | Total |
|---|---|---|---|---|---|---|---|---|
Edward L. Rand, Jr. President and Chief Executive Officer | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
Robert Francis President, Medical Professional Liability | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
Jeffrey Lisenby Executive Vice President, Corporate Secretary and General Counsel | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
Dana Hendricks Chief Financial Officer, Treasurer and Executive Vice President | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
Kevin Shook President, Eastern Alliance Insurance Group | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
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 2024
| Officer | Award | Grant date | Threshold units | Target units | Units granted | Maximum units | Exercise price | Grant date fair value |
|---|---|---|---|---|---|---|---|---|
| Dana S. Hendricks | RSU | ◇ | — | — | ◇ | — | — | ◇ |
| Dana S. Hendricks | RSU | ◇ | — | — | ◇ | — | — | ◇ |
| Edward L. Rand Jr | RSU | ◇ | — | — | ◇ | — | — | ◇ |
| Edward L. Rand Jr | RSU | ◇ | — | — | ◇ | — | — | ◇ |
| Jeffrey P. Lisenby | RSU | ◇ | — | — | ◇ | — | — | ◇ |
| Jeffrey P. Lisenby | RSU | ◇ | — | — | ◇ | — | — | ◇ |
| Kevin M. Shook | RSU | ◇ | — | — | ◇ | — | — | ◇ |
| Kevin M. Shook | RSU | ◇ | — | — | ◇ | — | — | ◇ |
| Robert D. Francis | RSU | ◇ | — | — | ◇ | — | — | ◇ |
| Robert D. Francis | RSU | ◇ | — | — | ◇ | — | — | ◇ |
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 2024 year end
| Officer | Award | Unvested units | Market value of unvested units | Exercise price | Expires |
|---|---|---|---|---|---|
| Robert Francis | PSU | ◇ | ◇ | — | — |
| PSU | ◇ | ◇ | — | — | |
| RSU | ◇ | ◇ | — | — | |
| RSU | ◇ | ◇ | — | — | |
| RSU | ◇ | ◇ | — | — | |
| PSU | ◇ | ◇ | — | — | |
| Kevin Shook | RSU | ◇ | ◇ | — | — |
| PSU | ◇ | ◇ | — | — | |
| RSU | ◇ | ◇ | — | — | |
| PSU | ◇ | ◇ | — | — | |
| PSU | ◇ | ◇ | — | — | |
| RSU | ◇ | ◇ | — | — | |
| Jeffrey Lisenby | PSU | ◇ | ◇ | — | — |
| PSU | ◇ | ◇ | — | — | |
| RSU | ◇ | ◇ | — | — | |
| RSU | ◇ | ◇ | — | — | |
| RSU | ◇ | ◇ | — | — | |
| PSU | ◇ | ◇ | — | — | |
| Dana Hendricks | RSU | ◇ | ◇ | — | — |
| PSU | ◇ | ◇ | — | — | |
| RSU | ◇ | ◇ | — | — | |
| PSU | ◇ | ◇ | — | — | |
| PSU | ◇ | ◇ | — | — | |
| RSU | ◇ | ◇ | — | — | |
| Edward Rand | PSU | ◇ | ◇ | — | — |
| PSU | ◇ | ◇ | — | — | |
| 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 2024
| Director | Fees earned in cash | Stock awards | Option awards | Non-equity incentive | Pension and deferred earnings | All other compensation | Total |
|---|---|---|---|---|---|---|---|
Bruce D. Angiolillo Board chair | ◇ | ◇ | — | — | — | — | ◇ |
Kedrick D. Adkins Jr | ◇ | ◇ | — | — | — | — | ◇ |
Fabiola Cobarrubias | ◇ | ◇ | — | — | — | — | ◇ |
Maye Head Frei | ◇ | ◇ | — | — | — | — | ◇ |
Katisha T. Vance | ◇ | ◇ | — | — | — | — | ◇ |
Samuel A. Di Piazza, Jr | ◇ | ◇ | — | — | — | — | ◇ |
Scott C. Syphax | ◇ | ◇ | — | — | — | — | ◇ |
Richard J. Bielen | ◇ | ◇ | — | — | — | — | ◇ |
Staci M. Pierce | ◇ | ◇ | — | — | — | — | ◇ |
Edward L. Rand, Jr served on the board in fiscal 2024 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 | ◇ |
| Audit committee chair | ◇ |
| Audit committee member | ◇ |
| Compensation committee chair | ◇ |
| Nominating and governance chair | ◇ |
Disclosed peer group
The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.
Fiscal 2024
- Amerisafe AMSF
- Assured Guaranty AGO
- Donegal Group DGICA
- Employers Holdings EIG
- Erie Indemnity ERIE
- Global Indemnity Group GBLI
- Horace Mann Educators HMN
- James River Group Holdings JRVR
- RLI RLI
- Safety Insurance Group SAFT
- Selective Insurance Group SIGI
- SiriusPoint SPNT
- Stewart Information Services STC
- TipTree TIPT
- United Fire Group UFCS
- Universal Insurance Holdings UVE
- White Mtns Insurance Group symbol not shown
Say-on-pay history
Shareholder support for the compensation program, by year.
| Year | Meeting | Support | Votes for | Votes against | Abstentions |
|---|---|---|---|---|---|
| 2024 | May 21, 2025 | = | ◇ | ◇ | ◇ |
| 2023 | May 22, 2024 | = | ◇ | ◇ | ◇ |
| 2021 | May 25, 2022 | = | ◇ | ◇ | ◇ |
| 2020 | May 25, 2021 | = | ◇ | ◇ | ◇ |
| 2019 | May 20, 2020 | = | ◇ | ◇ | ◇ |
| 2018 | May 22, 2019 | = | ◇ | ◇ | ◇ |
| 2017 | May 23, 2018 | = | ◇ | ◇ | ◇ |
| 2016 | May 31, 2017 | = | ◇ | ◇ | ◇ |
| 2015 | May 25, 2016 | = | ◇ | ◇ | ◇ |
What this page does not include
Everything above is a fact ProAssurance disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Peer benchmarking
Where ProAssurance 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 — $1,500Written 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 — $1,200Realizable 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.
Enquire about accessMultiple companies at once
Cross-company views, cohort screens, and data export across the industries we cover. This page is one company; the platform is all of them.
Velarion IntelligenceCitations
Every figure on this page is cited to the document that reported it. Select any figure to see its citation.
231 figures on this page: 222 cited to the filing that reported them, 9 calculated from figures it prints.
222 cited to the filing
9 calculated from the filing
Documents cited
- 0002031090-25-000007Item 5.07 Submission of Matters to a Vote of Security Holders
- 0001875246-25-000023DIRECTOR COMPENSATION · DIRECTOR COMPENSATION (D · Grants of Plan-Based Awards · NON-QUALIFIED DEFERRED COMPENSATION · and 2 more sections
- 0001875246-24-000035Item 5.07 Submission of Matters to a Vote of Security Holders
- 0001875246-24-000020SUMMARY COMPENSATION TABLE
- 0001875246-23-000007SUMMARY COMPENSATION TABLE
- 0001910277-22-000013Item 5.07 Submission of Matters to a Vote of Security Holders
- 0001777343-21-000028Item 5.07 Submission of Matters to a Vote of Security Holders
- 0001777343-20-000027
- 0001777343-19-000002
- 0001194794-18-000078
- 0001194794-17-000049
- 0001194794-16-000177
Cite this data
This page is free to cite. Attribution we ask for:
Velarion, “ProAssurance executive compensation, FY2022–FY2024.” https://intel.velarion.ai/comp/PRA (accessed 2026).
Short form: data: Velarion
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Insurance rankings
Peers ProAssurance discloses
The companies named in PRA's own disclosed peer group.
Terms on this page
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}
}