ProAssurance Corporation Files Supplement to Proxy Statement for Annual Meeting
ProAssurance Corporation (NYSE:PRA) has filed a proxy statement supplement with the SEC for its annual shareholder meeting scheduled on May 25, 2021. The supplement corrects a typographical error in Kevin M. Shook's 2020 compensation, adjusting it from $384,562 to $348,562 under the Non-Equity Incentive Plan, with total compensation revised to $1,216,608. Additionally, it clarifies that all incumbent directors attended all committee meetings in 2020, contrary to earlier claims of attending at least two thirds. The supplement does not alter any other information in the proxy statement.
- Correction of compensation amounts enhances transparency.
- Clarification of director attendance reinforces board accountability.
- Typographical errors may raise concerns about the accuracy of disclosures.
ProAssurance Corporation (NYSE:PRA) has filed a supplement with the Securities and Exchange Commission to its previously filed proxy statement for ProAssurance’s annual meeting of shareholders that will be held at 10:00 a.m. ET on May 25, 2021.
The proxy statement supplement informs shareholders of a typographical error related to the disclosure of Kevin M. Shook’s compensation in 2020. The Summary Compensation Table on page 37 of the Proxy Statement erroneously showed that Mr. Shook received
In addition, the supplement revises the disclosure under the heading “Meetings and Committees of the Board of Directors” on page 14 of the Proxy Statement to report that each of the Company’s incumbent directors attended all of the meetings of the committees of the board on which he or she served during 2020. The Proxy Statement erroneously stated that the Company’s incumbent directors attended at least two thirds of all of the meetings of the committees of the board on which he or she served during 2020.
Except as specifically revised by the information contained herein, the supplement does not modify, amend or otherwise affect any of the other information set forth in the Proxy Statement. The proxy statement supplement may be accessed and copies of the supplement may be obtained without charge in the manner described in ProAssurance’s proxy statement and is also available without charge on the SEC’s website at www.sec.gov. Shareholders may also contact Jeff Lisenby, Executive Vice President and Corporate Secretary of ProAssurance at (800) 282-6242, Ext.362668 for assistance in obtaining the proxy statement and the supplement thereto.
About ProAssurance
ProAssurance Corporation is an industry-leading specialty insurer with extensive expertise in healthcare professional liability, products liability for medical technology and life sciences, legal professional liability, and workers’ compensation insurance. ProAssurance Group is rated “A” (Excellent) by AM Best; ProAssurance and its operating subsidiaries are rated “A-” (Strong) by Fitch Ratings. For the latest on ProAssurance and its industry-leading suite of products and services, cutting-edge risk management and practice enhancement programs, follow @ProAssurance on Twitter or LinkedIn. ProAssurance’s YouTube channel regularly presents thought provoking, insightful videos that communicate effective practice management, patient safety and risk management strategies.
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