Simon Wilson, CEO of Markel Insurance, and Andrew G. Crowley, President of Markel Ventures, have been appointed Executive Vice Presidents of Markel Group, effective February 23, 2026. Michael R. Heaton, Executive Vice President and Chief Operating Officer, ceased to serve in his role effective February 21, 2026, and will be leaving the company on March 23, 2026. Amy McCann has been promoted to Chief Administrative Officer, Markel Group, effective February 23, 2026, while retaining her responsibilities as General Counsel, Markel Ventures. The Compensation Committee approved increases in base salary for Simon Wilson (from $877,305 to $894,851), Andrew G. Crowley (from $500,000 to $530,000), Richard R. Grinnan (from $620,000 to $640,000), and Brian J. Costanzo (from $500,000 to $530,000), effective for the 2026 performance year. Target potential for equity awards, expressed as a percentage of base salary, increased for Thomas S. Gayner (from 550% to 565%), Simon Wilson (from 175% to 225%), and Brian J. Costanzo (from 175% to 190%). The target potential for annual cash incentive awards for Thomas S. Gayner increased from 200% to 210% of base salary. For the 2026 performance year, 75% of total equity award targets will be performance-based, and 25% will be service-based, both subject to three-year cliff vesting schedules, with service-based awards also having an additional five-year holding period. Performance-based equity awards will be tied to the company's average operating income and the compounded annual growth rate (CAGR) in its closing stock price (total shareholder return) over the five-year period from 2022 to 2026. The Board amended and restated the company's Bylaws, effective February 25, 2026, to allow special meetings of shareholders to be called by shareholders owning not less than 25% of the voting power of outstanding shares for at least one year.