Form 4: ProAssurance Director Richard J. Bielen Receives Stock Award

Director Richard J. Bielen acquired 6,520 shares of ProAssurance Corp stock at $14.57 per share on May 23, 2024, under the company's Director Deferred Stock Compensation Plan.

Summary

• Richard J. Bielen, a director of ProAssurance Corp, acquired 6,520 shares of common stock on May 23, 2024.
• The shares were awarded under the ProAssurance Corporation Director Deferred Stock Compensation Plan.
• The price per share was $14.57.
• Following the transaction, Bielen beneficially owns 6,520 shares.
• The stock compensation grant was for shares having a value not to exceed $95,000.
• The grant was recommended by the Compensation Committee and approved by the Board of Directors on May 22, 2024.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to director compensation, which is generally viewed neutrally. The fact that the compensation plan is overseen by an independent committee is a positive.

Positives

• The stock award to the director aligns his interests with those of the shareholders.
• The compensation plan is overseen by an independent Compensation Committee.

Future Outlook

NA

Industry Context

This is a routine disclosure related to director compensation, common in publicly traded companies.

Comparison to Industry Standards

• Director compensation packages vary widely across the insurance industry.
• Stock awards are a common component of director compensation, aligning their interests with shareholders.
• The value of the stock award, not to exceed $95,000, appears to be within a reasonable range for director compensation at a company of ProAssurance's size.

Stakeholder Impact

• The stock award aligns the director's interests with those of the shareholders.
• The compensation plan is designed to attract and retain qualified directors.

Key Dates