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ProAssurance Executive Compensation (FY24)

PRA · Executive and director compensation, fiscal 2022 to 2024
Chief executive, fiscal 2024
◇
Edward L. Rand, Jr.
Latest say-on-pay support
=
May 21, 2025
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Data as of October 17, 2026Latest filing (8-K): May 21, 2025
11 filings cited on this page
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247 figures on this page: 237 cited to the filing that reported them, 10 calculated from figures it prints. See the citations

More on ProAssurance

Five data products on this company. Each one is requested through the developer setup page.
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
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
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
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
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
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
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
OfficerAwardGrant dateThreshold unitsTarget unitsUnits grantedMaximum unitsExercise priceGrant date fair value
Dana S. HendricksRSU◇——◇——◇
Dana S. HendricksPSU◇◇◇—◇—◇
Edward L. Rand Jr.PSU◇◇◇—◇—◇
Edward L. Rand Jr.RSU◇——◇——◇
Jeffrey P. LisenbyPSU◇◇◇—◇—◇
Jeffrey P. LisenbyRSU◇——◇——◇
Kevin M. ShookRSU◇——◇——◇
Kevin M. ShookPSU◇◇◇—◇—◇
Robert D. FrancisRSU◇——◇——◇
Robert D. FrancisPSU◇◇◇—◇—◇
Fiscal 2023 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 2024 year end
OfficerAwardUnvested unitsMarket value of unvested unitsExercise priceExpires
Dana HendricksPSU◇◇——
RSU◇◇——
PSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
Kevin ShookRSU◇◇——
RSU◇◇——
PSU◇◇——
RSU◇◇——
PSU◇◇——
PSU◇◇——
Edward L. Rand, Jr.RSU◇◇——
PSU◇◇——
PSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
Jeffrey LisenbyRSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
PSU◇◇——
PSU◇◇——
Robert FrancisPSU◇◇——
RSU◇◇——
PSU◇◇——
PSU◇◇——
RSU◇◇——
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
DirectorFees earned in cashStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Bruce D. Angiolillo
◇◇————◇
Kedrick D. Adkins Jr
◇◇————◇
Fabiola Cobarrubias
◇◇————◇
Maye Head Frei
◇◇————◇
Katisha T. Vance
◇◇————◇
Samuel A. Di Piazza, Jr
◇◇————◇
Samuel A. Di Piazza
◇◇————◇
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◇
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.
YearMeetingSupportVotes forVotes againstAbstentions
2024May 21, 2025=◇◇◇
2023May 22, 2024=◇◇◇
2022May 22, 2023=◇◇◇
2021May 25, 2022=◇◇◇
2020May 25, 2021=◇◇◇
2019May 20, 2020=◇◇◇
2018May 22, 2019=◇◇◇
2017May 23, 2018=◇◇◇
2016May 31, 2017=◇◇◇
2015May 25, 2016=◇◇◇

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Sample answer — “What is the CEO’s total compensation?”
- Edward L. Rand, Jr. (President and Chief Executive Officer), FY2024 total compensation $6,226,834 (base salary $1,029,231) [exec_comp, SEC accession 0001875246-25-000023, filed 2025-04-11]

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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 — $1,500
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.
247 figures on this page: 237 cited to the filing that reported them, 10 calculated from figures it prints.
237 cited to the filing
10 calculated from the filing

Documents cited

  1. 0002031090-25-000007
    ITEM 5.07 SUBMISSION OF MATTERS TO A VOTE OF SECURITY SHAREHOLDERS
  2. 0001875246-25-000023
    DIRECTOR COMPENSATION (D · SUMMARY COMPENSATION TABLE
  3. 0001875246-24-000035
    ITEM 5.07 SUBMISSION OF MATTERS TO A VOTE OF SECURITY SHAREHOLDERS · Item 5.07 Submission of Matters to a Vote of Security Holders
  4. 0001875246-24-000020
    SUMMARY COMPENSATION TABLE
  5. 0001910277-22-000013
    Item 5.07 Submission of Matters to a Vote of Security Holders
  6. 0001777343-21-000028
    Item 5.07 Submission of Matters to a Vote of Security Holders
  7. 0001777343-20-000027
  8. 0001777343-19-000002
  9. 0001194794-18-000078
  10. 0001194794-17-000049
  11. 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

The paid brief for ProAssurance

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.
11 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 ProAssurance discloses

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

AmerisafeAssured GuarantyDonegal GroupEmployers HoldingsErie IndemnityGlobal Indemnity GroupHorace Mann EducatorsJames River Group HoldingsRLISafety Insurance GroupSelective Insurance GroupSiriusPointStewart Information ServicesTipTreeUnited Fire GroupUniversal Insurance Holdings

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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