Heritage Insurance Holdings Management
Management criteria checks 3/4
Heritage Insurance Holdings' CEO is Ernie Garateix, appointed in Dec 2020, has a tenure of 3.42 years. total yearly compensation is $5.00M, comprised of 20% salary and 80% bonuses, including company stock and options. directly owns 3.45% of the company’s shares, worth $10.88M. The average tenure of the management team and the board of directors is 6.3 years and 10.1 years respectively.
Key information
Ernie Garateix
Chief executive officer
US$5.0m
Total compensation
| CEO salary percentage | 20.0% |
| CEO tenure | 3.4yrs |
| CEO ownership | 3.5% |
| Management average tenure | 6.3yrs |
| Board average tenure | 10.1yrs |
Recent management updates
Recent updates
A Piece Of The Puzzle Missing From Heritage Insurance Holdings, Inc.'s (NYSE:HRTG) 56% Share Price Climb
Mar 21
Earnings Beat: Heritage Insurance Holdings, Inc. Just Beat Analyst Forecasts, And Analysts Have Been Updating Their Models
Mar 14Heritage Insurance: An Unjustified Premium
Jan 18Heritage Insurance Is My Best Value Idea
Oct 26Heritage Insurance announces $10M stock buyback plan
Jan 17Heritage Insurance sees $40M in net retained losses from Hurricane Ian
Oct 13Heritage Insurance GAAP EPS of -$3.32 misses by $3.34, revenue of $163.77M beats by $4.78M
Aug 04Heritage Insurance: A Potential Lifebuoy In The Stormy Florida Market
Jun 17Heritage Insurance Holdings (NYSE:HRTG) Will Pay A Dividend Of US$0.06
May 27Heritage Insurance Holdings' (NYSE:HRTG) Dividend Will Be US$0.06
May 09Heritage Insurance Holdings (NYSE:HRTG) Has Affirmed Its Dividend Of US$0.06
Nov 28Heritage Insurance Holdings (NYSE:HRTG) Has Re-Affirmed Its Dividend Of US$0.06
Nov 08CEO Compensation Analysis
| Date | Total Compensation | Salary | Company Earnings |
|---|---|---|---|
| Mar 31 2024 | n/a | n/a | US$46m |
| Dec 31 2023 | US$5m | US$1m | US$45m |
| Sep 30 2023 | n/a | n/a | US$27m |
| Jun 30 2023 | n/a | n/a | -US$14m |
| Mar 31 2023 | n/a | n/a | -US$110m |
| Dec 31 2022 | US$2m | US$1m | -US$154m |
| Sep 30 2022 | n/a | n/a | -US$216m |
| Jun 30 2022 | n/a | n/a | -US$184m |
| Mar 31 2022 | n/a | n/a | -US$100m |
| Dec 31 2021 | US$3m | US$1m | -US$75m |
| Sep 30 2021 | n/a | n/a | -US$23m |
| Jun 30 2021 | n/a | n/a | -US$12m |
| Mar 31 2021 | n/a | n/a | -US$3m |
| Dec 31 2020 | US$2m | US$1m | US$9m |
| Sep 30 2020 | n/a | n/a | US$19m |
| Jun 30 2020 | n/a | n/a | US$33m |
| Mar 31 2020 | n/a | n/a | US$29m |
| Dec 31 2019 | US$1m | US$900k | US$29m |
| Sep 30 2019 | n/a | n/a | US$20m |
| Jun 30 2019 | n/a | n/a | US$18m |
| Mar 31 2019 | n/a | n/a | US$19m |
| Dec 31 2018 | US$1m | US$900k | US$27m |
| Sep 30 2018 | n/a | n/a | US$18m |
| Jun 30 2018 | n/a | n/a | US$3m |
| Mar 31 2018 | n/a | n/a | US$8m |
| Dec 31 2017 | US$1m | US$773k | -US$1m |
Compensation vs Market: Ernie's total compensation ($USD5.00M) is above average for companies of similar size in the US market ($USD2.41M).
Compensation vs Earnings: Ernie's compensation has been consistent with company performance over the past year.
CEO
Ernie Garateix (51 yo)
3.4yrs
Tenure
US$4,995,816
Compensation
Mr. Ernesto Jose Garateix, CPCU, also known as Ernie, had been the Chief Operating Officer at Heritage Insurance Holdings, Inc. since December 22, 2014 and served as its Executive Vice President since Augu...
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO & Director | 3.4yrs | US$5.00m | 3.45% $ 10.9m | |
| CFO & Treasurer | 6.1yrs | US$2.54m | 1.78% $ 5.6m | |
| President of Narragansett Bay Insurance Company | 6.3yrs | US$1.67m | 0.82% $ 2.6m | |
| Chief Accounting Officer | 8yrs | US$728.61k | 0.54% $ 1.7m | |
| Vice President of Compliance | 10yrs | no data | no data | |
| President of Zephyr Insurance Company | 6.1yrs | US$454.45k | 0.12% $ 369.4k | |
| Advisory | no data | US$959.41k | no data |
6.3yrs
Average Tenure
62yo
Average Age
Experienced Management: HRTG's management team is seasoned and experienced (6.3 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO & Director | 3.5yrs | US$5.00m | 3.45% $ 10.9m | |
| Independent Chairman | 11.8yrs | US$243.33k | 2.26% $ 7.1m | |
| Independent Director | 1.2yrs | US$134.83k | 0.23% $ 725.8k | |
| Director | 5.3yrs | US$165.00k | 2.46% $ 7.8m | |
| Independent Director | 11.8yrs | US$167.50k | 0.60% $ 1.9m | |
| Independent Director | 10.1yrs | US$175.00k | 0.27% $ 837.6k | |
| Independent Director | 10.1yrs | US$175.00k | 0.17% $ 551.5k | |
| Independent Director | 11.8yrs | US$170.00k | 1.01% $ 3.2m | |
| Independent Director | 9.8yrs | US$175.00k | 0.26% $ 827.9k |
10.1yrs
Average Tenure
51yo
Average Age
Experienced Board: HRTG's board of directors are seasoned and experienced ( 10.1 years average tenure).