Erie Indemnity Management
Management criteria checks 2/4
Erie Indemnity's CEO is Tim NeCastro, appointed in Aug 2016, has a tenure of 8.17 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 €7.49M. The average tenure of the management team and the board of directors is 8 years and 17.5 years respectively.
Key information
Tim NeCastro
Chief executive officer
US$7.8m
Total compensation
| CEO salary percentage | 14.1% |
| CEO tenure | 8.2yrs |
| CEO ownership | 0.03% |
| Management average tenure | 8yrs |
| Board average tenure | 17.5yrs |
Recent management updates
Recent updates
CEO Compensation Analysis
| Date | Total Compensation | Salary | Company Earnings |
|---|---|---|---|
| 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 ($USD5.44M).
Compensation vs Earnings: Tim's compensation has increased by more than 20% in the past year.
CEO
Tim NeCastro (64 yo)
8.2yrs
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 |
|---|---|---|---|---|
| President & CEO | 8.2yrs | US$7.82m | 0.029% $ 7.5m | |
| Executive VP & CFO | 1.4yrs | US$1.83m | 0.0012% $ 303.7k | |
| Executive VP & Chief Information Officer | 2.5yrs | US$1.97m | no data | |
| Executive Vice President of Sales & Products | 7.9yrs | US$2.07m | 0.0098% $ 2.5m | |
| Vice President of Construction Management & Operations | no data | no data | no data | |
| Senior VP & Chief Investment Officer | 4.3yrs | no data | no data | |
| Vice President of Capital Management & Investor Relations | 12.8yrs | no data | no data | |
| Executive VP | 8.8yrs | no data | 0.00085% $ 216.9k | |
| Senior Vice President of Sales & Marketing | no data | no data | no data | |
| Executive VP of Human Resources & Corporate Services | no data | no data | 0.00068% $ 173.5k | |
| Senior Vice President of Corporate Services | no data | no data | no data | |
| Senior Vice President of Underwriting | 12.8yrs | no data | 0.031% $ 7.8m |
8.0yrs
Average Tenure
55yo
Average Age
Experienced Management: EI2's management team is seasoned and experienced (8 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Independent Director | 7.5yrs | US$197.50k | 0.038% $ 9.7m | |
| Independent Director | 8.5yrs | US$169.00k | 0.0033% $ 842.2k | |
| Independent Chairman of the Board | 17.5yrs | US$283.07k | 32.9% $ 8.4b | |
| Non-Independent Director | 32.5yrs | US$176.50k | 0.019% $ 4.9m | |
| Independent Director | 6.5yrs | US$182.50k | 0.00061% $ 155.7k | |
| Independent Director | 21.5yrs | US$160.00k | 0.0021% $ 535.9k | |
| Independent Vice Chairman of the Board | 19.5yrs | US$200.50k | 0.43% $ 110.4m | |
| Independent Director | 18.5yrs | US$204.50k | 0.0015% $ 375.1k | |
| Independent Director | 17.5yrs | US$190.00k | 7.57% $ 1.9b | |
| Independent Director | 7.5yrs | US$203.00k | 0.00056% $ 142.9k | |
| Independent Director | 8.5yrs | US$164.50k | 0.00078% $ 199.1k |
17.5yrs
Average Tenure
69yo
Average Age
Experienced Board: EI2's board of directors are seasoned and experienced ( 17.5 years average tenure).