Companies Mercury General Corp
Mercury General (MCY): executive pay, fiscal 2025
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CEO pay, last three years
- $1,698,348FY2023
- $3,678,591FY2024
- $5,590,472FY2025
CEO total pay was $5,590,472 in fiscal 2025, up from $3,678,591 in fiscal 2024.
FY2025: salary $1,344,706 · bonus $0 · stock awards $1,703,470 · option awards $0
Executives and directors
Frequently asked questions
Answers are drawn only from the figures disclosed in this brief and cited to their location in the source filing. Where a figure required for an answer is not disclosed, that is stated rather than estimated.
Full detail
Every table from the filing. Open any section.
Summary compensation table
| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| Gabriel Tirador | $1,344,706 | $0 | $1,703,470 | $0 | $2,498,269 | $0 | $44,027 | $5,590,472 |
| Chief Executive Officer | ||||||||
| George Joseph | 1,320,525 | 54,813 | 1,003,703 | 0 | 1,226,672 | 0 | 20,016 | 3,625,729 |
| Chairman of the Board | ||||||||
| Wei Pang | 700,134 | 299,364 | 685,821 | 0 | 812,015 | 0 | 13,530 | 2,510,864 |
| Vice President and Chief Technology Officer | ||||||||
| Victor Joseph | 815,524 | 0 | 702,511 | 0 | 946,954 | 0 | 13,450 | 2,478,439 |
| President and Chief Operating Officer | ||||||||
| Theodore Stalick | 882,180 | 0 | 670,526 | 0 | 819,481 | 0 | 13,450 | 2,385,637 |
| Senior Vice President and Chief Financial Officer | ||||||||
A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.
Three-year trend — total compensation per named executive
| Named executive officer | FY2025 total | FY2024 total | FY2023 total | Δ FY2024→2025 |
|---|---|---|---|---|
| Gabriel Tirador | $5,590,472 | $3,678,591 | $1,698,348 | ↑ +1,911,881 |
| George Joseph | 3,625,729 | — | 1,629,078 | — |
| Wei Pang | 2,510,864 | 1,998,033 | — | ↑ +512,831 |
| Victor Joseph | 2,478,439 | 2,120,779 | — | ↑ +357,660 |
| Theodore Stalick | 2,385,637 | 2,055,383 | 1,058,840 | ↑ +330,254 |
Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.
Incentive-plan design — the Compensation Discussion & Analysis
The Company’s executive compensation program is designed to be simple and clear and understandable to employees and investors. The Company seeks to attract, motivate and build the long-term commitment of talented executives and to reward and encourage activities that promote the achievement of premium growth while managing costs and losses to maximize underwriting income and ultimately increase shareholder value.
| CEO STI target (% of salary) | — |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | — |
| Clawback policy | true |
| Anti-hedging | true |
| Anti-pledging | true |
Equity grants and outstanding awards
Grants of plan-based awards — fiscal year 2025
| Executive | Award | Grant date | Threshold | Target | Granted | Maximum | Grant-date fair value |
|---|---|---|---|---|---|---|---|
| Wei Pang | RSU | 2025-02-21 | — | — | 3,409 | — | $178,034 |
| Wei Pang | RSU | 2025-10-09 | — | — | 1,831 | — | 151,720 |
| Wei Pang | PSU | 2025-02-21 | 3,409 | 6,817 | — | 10,226 | 356,067 |
| Victor Joseph | PSU | 2025-02-21 | 4,747 | 9,494 | — | 14,242 | 495,890 |
| Theodore Stalick | PSU | 2025-02-21 | 4,279 | 8,559 | — | 12,838 | 447,017 |
| Gabriel Tirador | RSU | 2025-02-21 | — | — | 13,046 | — | 681,388 |
| Gabriel Tirador | PSU | 2025-02-21 | 9,784 | 19,569 | — | 29,353 | 1,022,082 |
| George Joseph | PSU | 2025-02-21 | 9,608 | 19,217 | — | 28,825 | 1,003,703 |
| Victor Joseph | RSU | 2025-02-21 | — | — | 3,956 | — | 206,621 |
| Theodore Stalick | RSU | 2025-02-21 | — | — | 4,279 | — | 223,509 |
Vehicle mix — grant-date fair value by award type
| Named executive officer | Time-vested (RSU) | Performance-vested (PSU) | Options / SARs | % performance-vested |
|---|---|---|---|---|
| Wei Pang | $329,754 | $356,067 | $0 | 51.9% |
| Victor Joseph | 206,621 | 495,890 | 0 | 70.6% |
| Theodore Stalick | 223,509 | 447,017 | 0 | 66.7% |
| Gabriel Tirador | 681,388 | 1,022,082 | 0 | 60.0% |
| George Joseph | 0 | 1,003,703 | 0 | 100.0% |
% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.
Outstanding equity awards at fiscal year-end 2025
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| Wei Pang | RSU | 1,831 | — | $172,269 |
| Wei Pang | RSU | 3,409 | — | 320,617 |
| Joseph | RSU | 3,956 | — | 372,099 |
| Theodore Stalick | RSU | 4,279 | — | 402,512 |
| Wei Pang | PSU | 6,817 | — | 641,235 |
| Wei Pang | PSU | 8,461 | — | 795,873 |
| Theodore Stalick | PSU | 8,559 | — | 805,025 |
| Joseph | PSU | 9,494 | — | 893,039 |
| Theodore Stalick | PSU | 11,000 | — | 1,034,636 |
| Joseph | PSU | 11,716 | — | 1,101,979 |
| Gabriel Tirador | RSU | 13,046 | — | 1,227,098 |
| Joseph | PSU | 19,217 | — | 1,807,549 |
| Gabriel Tirador | PSU | 19,569 | — | 1,840,647 |
| Joseph | PSU | 23,527 | — | 2,212,904 |
| Gabriel Tirador | PSU | 23,979 | — | 2,255,443 |
Director compensation
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| Victor JosephEmployee director · Investment | $0 | $0 | $0 | — | $0 | $0 |
| Gabriel TiradorEmployee director · Investment | 0 | 0 | 0 | — | 0 | 0 |
| George JosephEmployee director · Board Chair | 0 | 0 | 0 | — | 0 | 0 |
| James G. EllisIndependent · Nominating/Corporate Governance · Investment | 81,100 | — | — | 0 | — | — |
| George G. BrauneggIndependent · Audit · Compensation · Investment (Chair) | 110,100 | — | — | 0 | — | — |
| Ramona L. CappelloIndependent · Compensation (Chair) · Investment | 90,500 | — | — | 0 | — | — |
| Joshua E. LittleIndependent · Audit · Compensation · Nominating/Corporate Governance (Chair) | 100,700 | — | — | 0 | — | — |
| Martha E. MarconIndependent · Lead Independent Director · Audit (Chair) · Nominating/Corporate Governance | 111,700 | — | — | 0 | — | — |
| Vicky Wai Yee JosephNot independent · Investment | 67,700 | — | — | 0 | — | — |
Board fee structure and ownership guideline
| Annual cash retainer | — |
|---|---|
| Annual equity retainer | — |
| Per board meeting fee | $8,100 |
| Committee chair fees (audit / comp / nom-gov) | — |
| Stock ownership guideline | — |
Total cost of the board
| Component | FY2025 |
|---|---|
| Cash retainers and fees | $561,800 |
| Equity awards (grant-date value) | $0 |
| All other compensation | $0 |
| Total cost of the board | $561,800 |
Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.
Peer group, and who names Mercury General as a peer
Companies that benchmark against MCY
7 companies name MCY as a compensation peer
- First American Financial CorpFAFFY2025
- HANOVER INSURANCE GROUP, INC.THGFY2025
- HARTFORD INSURANCE GROUP, INC.HIGFY2025
- HCI Group, Inc.HCIFY2025
- KEMPER CorpKMPRFY2025
- SAFETY INSURANCE GROUP INCSAFTFY2025
- STEWART INFORMATION SERVICES CORPSTCFY2025
Each company listed discloses MCY in its own benchmarking peer group, as disclosed in each company's most recent proxy statement within the last two proxy seasons. Two companies are therefore absent by design: one that named MCY in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.
Chief executive pay against the peer group
Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company’s own proxy statement.
| Rank | Company | FY | Chief executive | Salary | Stock awards | Option awards | Non-equity incentive | Total |
|---|---|---|---|---|---|---|---|---|
| 1 | Mercury General Corp | 2025 | Gabriel Tirador | $1,344,706 | $1,703,470 | $0 | $2,498,269 | $5,590,472 |
Each peer’s compensation is from its most recently filed proxy; fiscal years differ by company. Each peer’s figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.
Say-on-pay history and pay ratio
| Meeting year | Meeting date | For | Against | Abstain | Support | Outcome |
|---|---|---|---|---|---|---|
| 2026 | 2026-05-13 | 40,328,913 | 568,701 | 28,086 | 98.54% | Passed |
| 2025 | 2025-05-14 | 40,255,122 | 958,251 | 23,901 | 97.62% | Passed |
| 2024 | 2024-05-08 | 47,505,355 | 1,808,666 | 59,145 | 96.22% | Passed |
| 2023 | 2023-05-10 | 45,047,414 | 2,895,389 | 65,565 | 93.83% | Passed |
| 2022 | 2022-05-11 | 45,015,555 | 2,712,839 | 76,922 | 94.16% | Passed |
| 2021 | 2021-05-12 | 44,777,604 | 3,368,971 | 51,815 | 92.9% | Passed |
Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year’s compensation.
Say-on-pay — history, company’s computation
| Meeting year | Meeting date | Approval — company’s computation |
|---|---|---|
| 2026 | 2026-05-13 | 98.54%a |
| 2025 | 2025-05-14 | 97.62%b |
| 2024 | 2024-05-08 | 96.22%c |
a. Approved under the standard stated in the filing — “Abstentions and broker non-votes will be considered shares entitled to vote in the tabulation of votes cast on this proposal, and will have the same effect as negative votes.”.
b. Approved under the standard stated in the filing — “Abstentions and broker non-votes will be considered shares entitled to vote in the tabulation of votes cast on this proposal, and will have the same effect as negative votes.”.
c. Approved under the standard stated in the filing — “Abstentions and broker non-votes will be considered shares entitled to vote in the tabulation of votes cast on this proposal, and will have the same effect as negative votes.”.
Approval percentages are the company’s own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.
CEO pay ratio
| Ratio (CEO : median employee) | 62 : 1 |
|---|---|
| CEO total compensation | $5,590,472 |
| Median employee compensation | $90,662 |
Insider trades since the proxy
Every insider equity transaction reported on Form 4 after the 2025 proxy statement — acquisitions, dispositions, exercises, and withholdings — and therefore not reflected in any table in that document.
| Insider | Role | Transaction date | Code | Shares | Price | Value | Security | Source |
|---|---|---|---|---|---|---|---|---|
| Dividend-equivalent accruals | 2026-04-20 | — | 1,660 | — | — | 2 insiders, 2 accrual rows | ||
Transaction codes per Form 4: A acquisition · S open-market sale · F tax withholding · M option exercise · G gift. Value = shares × price as reported. Dividend-equivalent and fractional-share accrual rows (derivative Class A, under $10,000 and under 2,000 shares) are aggregated per date; every row appears in full below.
Sources (34 citations)
Each figure is listed with the filing it comes from, where it appears in that filing, and the value as printed. Any figure can be independently confirmed against the source.
- Section 01, Gabriel Tirador. DEF 14A, filed 2026-03-31. Section “Executive Compensation” · page 13. As printed: 5,590,472. View filing ↗
- Section 01, George Joseph. DEF 14A, filed 2026-03-31. Section “Executive Compensation”. As printed: 3,625,729. View filing ↗
- Section 01, Wei Pang. DEF 14A, filed 2026-03-31. Section “Executive Compensation”. As printed: 2,510,864. View filing ↗
- Section 01, Victor Joseph. DEF 14A, filed 2026-03-31. Section “Summary Compensation Table”. As printed: 2,478,439. View filing ↗
- Section 01, Theodore Stalick. DEF 14A, filed 2026-03-31. Section “Executive Compensation”. As printed: 2,385,637. View filing ↗
- Section 03, Wei Pang RSU. DEF 14A, filed 2026-03-31. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Wei Pang RSU. DEF 14A, filed 2026-03-31. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Wei Pang PSU. DEF 14A, filed 2026-03-31. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Victor Joseph PSU. DEF 14A, filed 2026-03-31. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Theodore Stalick PSU. DEF 14A, filed 2026-03-31. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Gabriel Tirador RSU. DEF 14A, filed 2026-03-31. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Gabriel Tirador PSU. DEF 14A, filed 2026-03-31. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, George Joseph PSU. DEF 14A, filed 2026-03-31. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Victor Joseph RSU. DEF 14A, filed 2026-03-31. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Theodore Stalick RSU. DEF 14A, filed 2026-03-31. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 07, pay ratio. DEF 14A, filed 2026-03-31. Section “CEO Pay Ratio”. As printed: 62 : 1. View filing ↗
- Section 08, Victor Joseph. DEF 14A, filed 2026-03-31. Section “Director Compensation”. As printed: 0. View filing ↗
- Section 08, Gabriel Tirador. DEF 14A, filed 2026-03-31. Section “Director Compensation”. As printed: 0. View filing ↗
- Section 08, George Joseph. DEF 14A, filed 2026-03-31. Section “Director Compensation”. As printed: 0. View filing ↗
- Section 08, James G. Ellis. DEF 14A, filed 2026-03-31. Section “Director Compensation”. As printed: —. View filing ↗
- Section 08, George G. Braunegg. DEF 14A, filed 2026-03-31. Section “Director Compensation”. As printed: —. View filing ↗
- Section 08, Ramona L. Cappello. DEF 14A, filed 2026-03-31. Section “Director Compensation”. As printed: —. View filing ↗
- Section 08, Joshua E. Little. DEF 14A, filed 2026-03-31. Section “Director Compensation”. As printed: —. View filing ↗
- Section 08, Martha E. Marcon. DEF 14A, filed 2026-03-31. Section “Director Compensation”. As printed: —. View filing ↗
- Section 08, Vicky Wai Yee Joseph. DEF 14A, filed 2026-03-31. Section “Director Compensation”. As printed: —. View filing ↗
- Section 02, Charles Toney 2026-04-20. Form 4, filed 2026-04-22. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Barnaby Joel Nardella 2026-04-20. Form 4, filed 2026-04-22. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 06, 2026 vote. Form 8-K, filed 2026-05-14. Item 5.07 · say-on-pay result. As reported: 98.54% (votes for as printed: 40,328,913). View filing ↗
- Section 06, 2025 vote. Form 8-K, filed 2025-05-15. Item 5.07 · say-on-pay result. As reported: 97.62% (votes for as printed: 40,255,122). View filing ↗
- Section 06, 2024 vote. Form 8-K, filed 2024-05-09. Item 5.07 · say-on-pay result. As reported: 96.22% (votes for as printed: 47,505,355). View filing ↗
- Section 01 trend, Δ column (computed). Computed. Δ = current-FY total − prior-FY total per named officer.
- Section 03b vehicle mix (computed). Computed. RSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).
- Section 09b board cost (computed). Computed. Cash 561,800 + equity 0 + all other 0 = 561,800, summed across the director compensation table rows.
- Mercury General Corp (subject), Section 10b CEO total. DEF 14A, filed 2026-03-31. CEO total compensation as printed in Mercury General Corp's own proxy. As printed: 5,590,472. View filing ↗