Bruce Lucas is the CEO of Heritage Insurance Holdings, where he has been leading the company since 2015. Born in 1964, he has built extensive experience in the insurance industry. Bruce's leadership is marked by significant achievements, including an impressive...

Bruce Lucas is the CEO of Heritage Insurance Holdings, where he has been leading the company since 2015. Born in 1964, he has built extensive experience in the insurance industry. Bruce's leadership is marked by significant achievements, including an impressive performance that brought the company through challenging times, like natural disasters that impacted financial results. Under his guidance, Heritage Insurance has maintained strong revenue growth, with total revenues hitting $480 million recently.

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1. Rivals

2. Holdings

3. Insider Trading

4. Compensation History

5. Other Heritage Insurance Holdings CEOs

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Bruce Lucas

Founder and Ex-CEO of Heritage Insurance Holdings

Education

Bachelor's degree in Finance from Indiana University.

Field of Expertise

Finance & Banking - Insurance

Sector of Economy

Financial Services

CEO of Heritage Insurance Holdings for

8 years 3 months (Aug 2012 - Dec 2020)

Previous Experience

Founder and CEO of Heritage Insurance Holdings.

Rivals

Competitors/colleagues of Bruce Lucas

Holdings

See how much did Bruce Lucas make over time.

Bruce Lucas holds a notable stake in Heritage Insurance Holdings, owning approximately 1.99 million shares, which is around 6.3% of the company. His wealth in stock fluctuated significantly; for instance, at its peak in 2019, his holdings were valued at...

Bruce Lucas holds a notable stake in Heritage Insurance Holdings, owning approximately 1.99 million shares, which is around 6.3% of the company. His wealth in stock fluctuated significantly; for instance, at its peak in 2019, his holdings were valued at about $17.46 million, but by 2023, the value was closer to $4-5 million due to market variations. These fluctuations reflect not only the company's performance but also his commitment to align his interests with the shareholders.

Total Stock Sold

$20.00M

HRTG

$20.00M

925,000 HRTG shares

What if they kept their stock?

If Bruce Lucas didn't sell their stock, today they would have:
Extra HRTG925,000 shares worth $10.45M.
This is -47.74% and $9.55M less than what they got when they sold the stock.

Insider Trading

See recent insider trades of Bruce Lucas.

HRTG

$1.08M

HRTG at $14.37/share

Nov 4, 2019

Sale

HRTG

$71.95K

HRTG at $14.39/share

May 9, 2019

Purchase

HRTG

$25.14K

HRTG at $13.92/share

Mar 8, 2019

Purchase

HRTG

$63.86K

HRTG at $16.46/share

Nov 13, 2018

Purchase

HRTG

$81.15K

HRTG at $16.23/share

Nov 9, 2018

Purchase

HRTG

$149.40K

HRTG at $16.07/share

Nov 7, 2018

Purchase

HRTG

$80.25K

HRTG at $16.05/share

Nov 5, 2018

Purchase

HRTG

$74.55K

HRTG at $14.91/share

Aug 23, 2018

Purchase

HRTG

$101.21K

HRTG at $14.46/share

Aug 9, 2018

Purchase

HRTG

$50.59K

HRTG at $16.86/share

May 14, 2018

Purchase

Compensation History

See how much did Bruce Lucas make over time.

In 2020, Bruce Lucas earned a total compensation of about $7.79 million, which included a base salary of $2.27 million and a substantial annual bonus of $2.5 million as part of his employment agreement. His compensation reflects a performance-driven structure, rewards for achieving at least $50 million in EBITDA, and additional benefits like stock options and allowances.

Year

2020

Total Compensation

$11.68M

Salary

$2.28M

Board Justification

The compensation philosophy is based on pay-for-performance principles, aiming to reward superior financial and operational performance, motivate executives, align interests with stockholders, and attract and retain qualified executives.

Bonus

$2.50M

Board Justification

Minimum annual bonus for 2020 under the terms of the Lucas Employment Agreement.

Other

$5.51M

Board Justification

Includes severance payments, non-renewal payment, non-compete payment, and accrued vacation.

Restricted Stock

$1.39M(150K restricted stock)

Board Justification

150,000 shares of restricted stock that vested in 2020 as part of the Terminated Lucas Agreement.

Performance Metrics

The performance metrics for determining compensation included achieving at least $50 million in EBITDA for 2020.

Other Heritage Insurance Holdings CEOs

Here are other CEOs of Heritage Insurance Holdings

Ernie Garateix

CEO of Heritage Insurance Holdings

December 2020 - Present