In 2011, Larry A. Frakes earned $756.17K in total compensation at Global Indemnity Group, LLC , primarily from $600.00K salary. Led Global Indemnity Group, LLC as CEO for 3 years.
Compensation History
Annual executive compensation data for Larry A. Frakes, including salary, bonuses, and stock awards.
Year
2011
Total Compensation
$756.17K
Salary
$600.00K
Bonus
$0.00
Other
$156.17K
Salary
$600.00KBoard Justification
Our primary goals in structuring compensation opportunities for our named executive officers are: (1) fostering achievement of corporate performance objectives; (2) recognizing executives’ contributions to corporate success; and (3) attracting and retaining quality professionals.
Bonus
$0.00Board Justification
Mr. Frakes\' target bonus opportunity for 2011 was $1,500,000. Under Mr. Frakes\ employment agreement, if all targets were met, generally, two-thirds would be paid in cash.
Other Compensation
$156.17KBoard Justification
For 2011, amount includes $1,188 in life insurance premiums, $108,827 as a part of the tax gross up for restricted shares, and $46,154 in accrued but unused vacation pay paid in connection with the end of Mr. Frakes’ employment.
Restricted Stock
Board Justification
N/A
Performance Metrics
For 2011, the consolidated accident year net income per share target was set at $1.82, and our actual consolidated accident year net income per share was $0.97. This performance did not meet the 90% threshold necessary for Mr. Frakes to receive his bonus.
Larry A. Frakes
Ex-CEO of Global Indemnity Group, LLC
Education
Bachelor's in Business Administration from University of Pennsylvania.
Field of Expertise
Finance & Banking - Insurance
Sector of Economy
Financial Services
Born
January 1, 1956 - 69 years ago
CEO of Global Indemnity Group, LLC for
3 years 8 months (Jan 2008 - Sep 2011)
Previous Experience
Various executive roles in insurance industry.
Other Global Indemnity Group, LLC CEOs
Holdings
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Insider Trading
Larry A. Frakes's recent stock transactions, purchases, and sales filed with the SEC.
No insider trades found for this CEO.
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