Erie Indemnity Management

Management criteria checks 2/4

Erie Indemnity's CEO is Tim NeCastro, appointed in Aug 2016, has a tenure of 8.25 years. total yearly compensation is $7.82M, comprised of 14.1% salary and 85.9% bonuses, including company stock and options. directly owns 0.029% of the company’s shares, worth €6.14M. The average tenure of the management team and the board of directors is 8.1 years and 17.6 years respectively.

Key information

Tim NeCastro

Chief executive officer

US$7.8m

Total compensation

CEO salary percentage	14.1%
CEO tenure	8.3yrs
CEO ownership	0.03%
Management average tenure	8.1yrs
Board average tenure	17.6yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Tim NeCastro's remuneration changed compared to Erie Indemnity's earnings?
Date	Total Compensation	Salary	Company Earnings
Sep 30 2024	n/a	n/a	US$559m
Jun 30 2024	n/a	n/a	US$530m
Mar 31 2024	n/a	n/a	US$484m
Dec 31 2023	US$8m	US$1m	US$446m
Sep 30 2023	n/a	n/a	US$401m
Jun 30 2023	n/a	n/a	US$354m
Mar 31 2023	n/a	n/a	US$316m
Dec 31 2022	US$5m	US$1m	US$299m
Sep 30 2022	n/a	n/a	US$288m
Jun 30 2022	n/a	n/a	US$294m
Mar 31 2022	n/a	n/a	US$293m
Dec 31 2021	US$5m	US$966k	US$298m
Sep 30 2021	n/a	n/a	US$306m
Jun 30 2021	n/a	n/a	US$305m
Mar 31 2021	n/a	n/a	US$308m
Dec 31 2020	US$5m	US$940k	US$293m
Sep 30 2020	n/a	n/a	US$290m
Jun 30 2020	n/a	n/a	US$295m
Mar 31 2020	n/a	n/a	US$301m
Dec 31 2019	US$4m	US$885k	US$317m
Sep 30 2019	n/a	n/a	US$320m
Jun 30 2019	n/a	n/a	US$306m
Mar 31 2019	n/a	n/a	US$298m
Dec 31 2018	US$3m	US$807k	US$288m
Sep 30 2018	n/a	n/a	US$258m
Jun 30 2018	n/a	n/a	US$236m
Mar 31 2018	n/a	n/a	US$215m
Dec 31 2017	US$4m	US$738k	US$197m

Compensation vs Market: Tim's total compensation ($USD7.82M) is above average for companies of similar size in the German market ($USD4.77M).

Compensation vs Earnings: Tim's compensation has increased by more than 20% in the past year.

CEO

Tim NeCastro (64 yo)

8.3yrs

Tenure

US$7,824,320

Compensation

Mr. Timothy Gerard NeCastro, also known as Tim, CPA, CIC, serves as President, CEO and Director of Flagship City Insurance Company, Erie Insurance Company, Erie Insurance Company of New York ("ENY") and Er...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Timothy NeCastro	President & CEO	8.3yrs	US$7.82m	0.029% € 6.1m
Julie Pelkowski	Executive VP & CFO	1.5yrs	US$1.83m	0.0012% € 249.0k
Parthasarathy Srinivasa	Executive VP & Chief Information Officer	2.6yrs	US$1.97m	no data
Douglas Smith	Executive Vice President of Sales & Products	8yrs	US$2.07m	0.0098% € 2.1m
Bill Matrogran	Vice President of Construction Management & Operations	no data	no data	no data
Ronald Habursky	Senior VP & Chief Investment Officer	4.3yrs	no data	no data
Scott Beilharz	Vice President of Capital Management & Investor Relations	12.8yrs	no data	no data
Brian Bolash	Executive VP	8.8yrs	no data	0.00085% € 177.9k
Charles Fletcher	Senior Vice President of Sales & Marketing	no data	no data	no data
Sean Dugan	Executive VP of Human Resources & Corporate Services	no data	no data	0.00068% € 142.3k
Jeffrey Brinling	Senior Vice President of Corporate Services	no data	no data	no data
Marc Cipriani	Senior Vice President of Underwriting	12.8yrs	no data	0.031% € 6.4m

8.1yrs

Average Tenure

55yo

Average Age

Experienced Management: EI2's management team is seasoned and experienced (8.1 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Eugene Connell	Independent Director	7.6yrs	US$197.50k	0.038% € 8.0m
George Lucore	Independent Director	8.6yrs	US$169.00k	0.0033% € 690.5k
Thomas Hagen	Independent Chairman of the Board	17.6yrs	US$283.07k	32.9% € 6.9b
John Borneman	Non-Independent Director	32.6yrs	US$176.50k	0.019% € 4.0m
Salvatore Correnti	Independent Director	6.6yrs	US$182.50k	0.00061% € 127.6k
Charles Hartz	Independent Director	21.6yrs	US$160.00k	0.0021% € 439.4k
Jonathan Hagen	Independent Vice Chairman of the Board	19.6yrs	US$200.50k	0.43% € 90.5m
Thomas Palmer	Independent Director	18.6yrs	US$204.50k	0.0015% € 307.6k
Elizabeth Ann Vorsheck	Independent Director	17.6yrs	US$190.00k	7.57% € 1.6b
Brian Hudson	Independent Director	7.6yrs	US$203.00k	0.00056% € 117.2k
LuAnn Datesh	Independent Director	8.6yrs	US$164.50k	0.00078% € 163.2k

17.6yrs

Average Tenure

69yo

Average Age

Experienced Board: EI2's board of directors are seasoned and experienced ( 17.6 years average tenure).

Erie Indemnity Management

Management criteria checks 2/4

Key information

Recent management updates

Erie Indemnity Company, Annual General Meeting, Apr 23, 2024

Erie Indemnity Company, Annual General Meeting, Apr 23, 2024

Non-Independent Director recently sold €3.8m worth of stock

Lorianne Feltz to Retire as Executive Vice President of Claims & Customer Service of Erie Indemnity Company on May 30, 2024

Erie Insurance Announces Management Changes

Insufficient new directors

Recent updates

Third quarter 2024 earnings released: EPS: US$3.46 (vs US$2.51 in 3Q 2023)

Erie Indemnity Company to Report Q3, 2024 Results on Oct 31, 2024

Upcoming dividend of US$1.28 per share

Second quarter dividend of US$1.28 announced

Investor sentiment improves as stock rises 15%

Second quarter 2024 earnings released: EPS: US$3.14 (vs US$2.25 in 2Q 2023)

Erie Indemnity Company to Report Q2, 2024 Results on Jul 25, 2024

Upcoming dividend of US$1.28 per share

First quarter dividend of US$1.28 announced

First quarter 2024 earnings released: EPS: US$2.70 (vs US$1.87 in 1Q 2023)

Erie Indemnity Company to Report Q1, 2024 Results on Apr 25, 2024

Upcoming dividend of US$1.28 per share

Erie Indemnity Company, Annual General Meeting, Apr 23, 2024

Erie Indemnity Company, Annual General Meeting, Apr 23, 2024

Fourth quarter dividend of US$1.28 announced

Investor sentiment improves as stock rises 19%

Non-Independent Director recently sold €3.8m worth of stock

Erie Indemnity Company Announce Dividend of Class A, Payable on April 23, 2024

Full year 2023 earnings released: EPS: US$9.66 (vs US$5.71 in FY 2022)

Erie Indemnity Company to Report Q4, 2023 Results on Feb 26, 2024

Upcoming dividend of US$1.28 per share at 1.4% yield

Erie Indemnity Company Declares Regular Dividend, Payable on January 23, 2024

Erie Indemnity Company Declares Regular Dividend, Payable on January 23, 2024

Lorianne Feltz to Retire as Executive Vice President of Claims & Customer Service of Erie Indemnity Company on May 30, 2024

Third quarter 2023 earnings released: EPS: US$2.51 (vs US$1.61 in 3Q 2022)

Erie Indemnity Company to Report Q3, 2023 Results on Oct 26, 2023

Upcoming dividend of US$1.19 per share at 1.6% yield

Investor sentiment improves as stock rises 31%

Erie Insurance Announces Management Changes

Erie Indemnity Company Approves Quarterly Dividend on Class A Common Stock, Payable on October 20, 2023

Second quarter 2023 earnings released: EPS: US$2.55 (vs US$1.53 in 2Q 2022)

Erie Indemnity Company to Report Q2, 2023 Results on Jul 27, 2023

Erie Indemnity Company(NasdaqGS:ERIE) dropped from Russell 1000 Value-Defensive Index

Insufficient new directors

CEO Compensation Analysis

CEO

Tenure

Compensation

Leadership Team

Average Tenure

Average Age

Board Members

Average Tenure

Average Age