CEO Stephen Sills was paid $4,309,280 in fiscal year 2025, ↓ down 7.9% from fiscal year 2024 (SEC filing 0002002473-26-000006 ↗): executive and director compensation, incentive-plan design, equity activity, and governance — every figure in this brief is traceable to its exact location in the company’s SEC filing — the document, the section, the page, and the table, linked directly.
$4,309,280 ↓ Stephen Sills total, FY2025 | — CEO pay percentile vs peers | — CEO-to-median pay ratio | — Say-on-pay support, latest vote |
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| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| Stephen Sills | $675,000 | $478,400 | $3,120,966 | $0 | $0 | $0 | $34,914 | $4,309,280 |
| Chief Executive Officer | ||||||||
| David Newman | 536,313 | 355,900 | 475,879 | 0 | 0 | 0 | 13,985 | 1,382,077 |
| Chief Underwriting Officer | ||||||||
| Brad Mulcahey | 343,985 | 250,900 | 571,080 | 0 | 0 | 0 | 35,789 | 1,201,754 |
| 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.
| Named executive officer | FY2025 total | FY2024 total | FY2023 total | Δ FY2024→2025 |
|---|---|---|---|---|
| Stephen Sills | $4,309,280 | $4,678,933 | — | ↓ −369,653 |
| David Newman | 1,382,077 | 1,369,519 | — | ↑ +12,558 |
| Brad Mulcahey | 1,201,754 | 932,515 | — | ↑ +269,239 |
Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.
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Data as of May 27, 2026 · Source: 0002002473-26-000006 · Velarion Executive Compensation Database, deposited on Zenodo (doi:10.5281/zenodo.22283855).
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Each company listed discloses BOW 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 BOW in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.
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One page per officer: the same table above, read for one person at a time — his own figure and every fiscal year the register holds.
| Executive | Role | FY2025 total |
|---|---|---|
| Brad Mulcahey | CFO | $1,201,754 |
| Stephen Sills | CEO | $4,309,280 |
| David Newman | Chief Underwriting Officer | $1,382,077 |
One page per director: the seat, the committees and the fee table, read for one person at a time.
| Director | Role | FY2025 total |
|---|---|---|
| Angela Brock-Kyle | Independent Director | $161,520 |
| Ava Schnidman | Independent Director | $160,760 |
| David Foy | Independent Director | $210,760 |
| David Holman | Independent Director | $155,336 |
| Fabian J. Fondriest | Director | $161,520 |
| Matthew Botein | Chair of the Board | — |
| Price Lowenstein | Independent Director | $80,000 |
| Tom Baker | Independent Director | $160,760 |
| Troy Van Beek | Director | — |
| Zhak Cohen | Director | — |
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 |
|---|---|---|---|---|---|---|---|---|
| David Holman | Director | 2026-04-30 | A | 3,361 | $0 | $0 | Common | Form 4 ↗ |
| Price Lowenstein | Director | 2026-04-30 | A | 3,361 | 0 | 0 | Common | Form 4 ↗ |
| Fabian J. Fondriest | Director | 2026-04-30 | A | 6,722 | 0 | 0 | Common | Form 4 ↗ |
| Angela Brock-Kyle | Director | 2026-04-30 | A | 6,722 | 0 | 0 | Common | Form 4 ↗ |
| Ava Schnidman | Director | 2026-04-30 | A | 3,361 | 0 | 0 | Common | Form 4 ↗ |
| David Foy | Director | 2026-04-30 | A | 3,361 | 0 | 0 | Common | Form 4 ↗ |
| Tom Baker | Director | 2026-04-30 | A | 3,361 | 0 | 0 | Common | Form 4 ↗ |
| Stephen Sills | Director | 2026-05-22 | D | 13,053 | 28 | 371,488 | Common | Form 4 ↗ |
| Stephen Sills | Director | 2026-05-22 | D | 24,353 | 28 | 693,086 | Common | Form 4 ↗ |
| Yap Shirley Shek Li | Chief Accounting Officer | 2026-05-23 | D | 2,353 | 28 | 66,590 | Common | Form 4 ↗ |
| Brad Mulcahey | CFO and Treasurer | 2026-05-23 | D | 1,027 | 28 | 29,064 | Common | Form 4 ↗ |
| David Newman | Chief Underwriting Officer | 2026-05-23 | D | 4,506 | 28 | 127,520 | Common | Form 4 ↗ |
| Brad Mulcahey | CFO and Treasurer | 2026-05-23 | D | 3,506 | 28 | 99,220 | Common | Form 4 ↗ |
| Yap Shirley Shek Li | Chief Accounting Officer | 2026-05-23 | D | 679 | 24 | 16,160 | Common | Form 4 ↗ |
| David Newman | Chief Underwriting Officer | 2026-05-23 | D | 2,118 | 28 | 59,939 | Common | Form 4 ↗ |
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.
| Executive | Award | Grant date | Threshold | Target | Granted | Maximum | Grant-date fair value |
|---|---|---|---|---|---|---|---|
| Brad Mulcahey | OTHER | — | — | — | — | — | $571,080 |
| Stephen Sills | OTHER | — | — | — | — | — | 3,120,966 |
| David Newman | OTHER | — | — | — | — | — | 475,879 |
Grant-level vehicle detail not disclosed.
% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| David Newman | RSU | 15,346 | — | $437,975 |
| Stephen Sills | RSU | 97,412 | — | 2,780,138 |
| Stephen Sills | RSU | 129,411 | — | 3,693,390 |
| Stephen Sills | RSU | 67,526 | — | 1,927,192 |
| Stephen Sills | RSU | 65,607 | — | 1,872,424 |
| Brad Mulcahey | RSU | 18,416 | — | 525,593 |
| David Newman | RSU | 18,024 | — | 514,405 |
| Brad Mulcahey | RSU | 14,024 | — | 400,245 |
The Company's compensation program is designed to attract, motivate, and retain personnel with the requisite skills and abilities to contribute to the Company's long-term success. Base salaries are intended to provide a fixed component of compensation reflecting the executive's skill set, experience, role, and responsibilities, while discretionary bonuses and equity awards align executive interests with stockholder value.
| CEO STI target (% of salary) | 100% |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | — |
| Clawback policy | true |
| Anti-hedging | true |
| Anti-pledging | true |
| Ratio (CEO : median employee) | — |
|---|---|
| CEO total compensation | — |
| Median employee compensation | — |
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| David FoyIndependent · Audit Committee (Chair) | $130,000 | $80,760 | — | — | $0 | $210,760 |
| Fabian J. FondriestNot independent | 0 | 161,520 | — | — | 0 | 161,520 |
| Angela Brock-KyleIndependent · Audit Committee | 0 | 161,520 | — | — | 0 | 161,520 |
| Ava SchnidmanIndependent · Compensation, Nominating and Corporate Governance Committee (Chair) | 80,000 | 80,760 | — | — | 0 | 160,760 |
| Tom BakerIndependent · Audit Committee | 80,000 | 80,760 | — | — | 0 | 160,760 |
| David HolmanIndependent · Compensation, Nominating and Corporate Governance Committee | 80,000 | 75,336 | — | — | 0 | 155,336 |
| Price LowensteinIndependent · Compensation, Nominating and Corporate Governance Committee · Partial-year service | 80,000 | 0 | — | — | 0 | 80,000 |
| Troy Van BeekNot independent | 0 | 0 | — | — | 0 | 0 |
| Stephen SillsEmployee director | — | — | — | — | — | 0 |
| Zhak CohenNot independent | 0 | 0 | — | — | 0 | 0 |
| Matthew BoteinNot independent · Board Chair | 0 | 0 | — | — | 0 | 0 |
| Annual cash retainer | $80,000 |
|---|---|
| Annual equity retainer | $80,000 |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | 50,000 / 25,000 |
| Stock ownership guideline | — |
| Component | FY2025 |
|---|---|
| Cash retainers and fees | $450,000 |
| Equity awards (grant-date value) | $640,656 |
| All other compensation | $0 |
| Total cost of the board | $1,090,656 |
Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.
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 | Bowhead Specialty Holdings Inc. | 2025 | Stephen Sills | $675,000 | $3,120,966 | $0 | $0 | $4,309,280 |
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.
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.
Each figure's location is given both for the eye (section · page · table · row · column) and for a script (table/row/column index and exact character span in the filed document). Any figure can be independently confirmed against the source.
| # | Supports | Document | Filed | Accession | Location in document |
|---|---|---|---|---|---|
| 1 | Section 01, Stephen Sills | DEF 14A | 2026-03-16 | 0002002473-26-000006 | Section “Executive Compensation”. As printed: 4,309,280. Filing ↗machine: span 243043–243052 |
| 2 | Section 01, David Newman | DEF 14A | 2026-03-16 | 0002002473-26-000006 | Section “Executive Compensation”. As printed: 1,382,077. Filing ↗machine: span 255347–255356 |
| 3 | Section 01, Brad Mulcahey | DEF 14A | 2026-03-16 | 0002002473-26-000006 | Section “Executive Compensation”. As printed: 1,201,754. Filing ↗machine: span 249355–249364 |
| 4 | Section 03, Brad Mulcahey OTHER | DEF 14A | 2026-03-16 | 0002002473-26-000006 | Section “EXECUTIVE COMPENSATION” · grants of plan-based awards table. Filing ↗machine: t9 · r4 · c11 · span 248450–248457 |
| 5 | Section 03, Stephen Sills OTHER | DEF 14A | 2026-03-16 | 0002002473-26-000006 | Section “EXECUTIVE COMPENSATION” · grants of plan-based awards table. Filing ↗machine: t9 · r2 · c13 · span 241506–241515 |
| 6 | Section 03, David Newman OTHER | DEF 14A | 2026-03-16 | 0002002473-26-000006 | Section “EXECUTIVE COMPENSATION” · grants of plan-based awards table. Filing ↗machine: t9 · r6 · c11 · span 254292–254299 |
| 7 | Section 07, pay ratio | 10-K | 2026-02-24 | 0001628280-26-011089 | Section “CEO Pay Ratio”. As printed: —. Filing ↗ |
| 8 | Section 08, David Foy | DEF 14A | 2026-03-16 | 0002002473-26-000006 | Section “Director Compensation”. As printed: 210,760. Filing ↗machine: span 140071–140202 |
| 9 | Section 08, Fabian J. Fondriest | DEF 14A | 2026-03-16 | 0002002473-26-000006 | Section “Director Compensation”. As printed: 161,520. Filing ↗machine: span 135890–136021 |
| 10 | Section 08, Angela Brock-Kyle | DEF 14A | 2026-03-16 | 0002002473-26-000006 | Section “Director Compensation”. As printed: 161,520. Filing ↗machine: span 130172–130303 |
| 11 | Section 08, Ava Schnidman | DEF 14A | 2026-03-16 | 0002002473-26-000006 | Section “Director Compensation”. As printed: 160,760. Filing ↗machine: span 149004–149135 |
| 12 | Section 08, Tom Baker | DEF 14A | 2026-03-16 | 0002002473-26-000006 | Section “Director Compensation”. As printed: 160,760. Filing ↗machine: span 125623–125754 |
| 13 | Section 08, David Holman | DEF 14A | 2026-03-16 | 0002002473-26-000006 | Section “Director Compensation”. As printed: 155,336. Filing ↗machine: span 143052–143183 |
| 14 | Section 08, Price Lowenstein | DEF 14A | 2026-03-16 | 0002002473-26-000006 | Section “Director Compensation”. As printed: 80,000. Filing ↗machine: span 144236–144366 |
| 15 | Section 08, Troy Van Beek | DEF 14A | 2026-03-16 | 0002002473-26-000006 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 16 | Section 08, Stephen Sills | DEF 14A | 2026-03-16 | 0002002473-26-000006 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 17 | Section 08, Zhak Cohen | DEF 14A | 2026-03-16 | 0002002473-26-000006 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 18 | Section 08, Matthew Botein | DEF 14A | 2026-03-16 | 0002002473-26-000006 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 19 | Section 02, David Holman 2026-04-30 | Form 4 | 2026-05-04 | 0002019477-26-000002 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 20 | Section 02, Price Lowenstein 2026-04-30 | Form 4 | 2026-05-04 | 0002002473-26-000008 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 21 | Section 02, Fabian J. Fondriest 2026-04-30 | Form 4 | 2026-05-04 | 0002019649-26-000002 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 22 | Section 02, Angela Brock-Kyle 2026-04-30 | Form 4 | 2026-05-04 | 0002002473-26-000010 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 23 | Section 02, Ava Schnidman 2026-04-30 | Form 4 | 2026-05-04 | 0002042584-26-000002 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 24 | Section 02, David Foy 2026-04-30 | Form 4 | 2026-05-04 | 0001221318-26-000002 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 25 | Section 02, Tom Baker 2026-04-30 | Form 4 | 2026-05-04 | 0002020006-26-000002 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 26 | Section 02, Stephen Sills 2026-05-22 | Form 4 | 2026-05-27 | 0001362369-26-000006 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 27 | Section 02, Stephen Sills 2026-05-22 | Form 4 | 2026-05-26 | 0001362369-26-000004 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 28 | Section 02, Yap Shirley Shek Li 2026-05-23 | Form 4 | 2026-05-27 | 0002020205-26-000004 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 29 | Section 02, Brad Mulcahey 2026-05-23 | Form 4 | 2026-05-27 | 0002019632-26-000006 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 30 | Section 02, David Newman 2026-05-23 | Form 4 | 2026-05-26 | 0001362378-26-000004 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 31 | Section 02, Brad Mulcahey 2026-05-23 | Form 4 | 2026-05-26 | 0002019632-26-000004 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 32 | Section 02, Yap Shirley Shek Li 2026-05-23 | Form 4 | 2026-05-27 | 0002020205-26-000006 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 33 | Section 02, David Newman 2026-05-23 | Form 4 | 2026-05-27 | 0001362378-26-000006 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 34 | Section 01 trend, Δ column (computed) | Computed | — | — | Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1) |
| 35 | Section 09b board cost (computed) | Computed | — | — | Cash 450,000 + equity 640,656 + all other 0 = 1,090,656, summed across the director compensation table rows.machine: formula: Σ = 1,090,656 |
| 36 | Bowhead Specialty Holdings Inc. (subject), Section 10b CEO total | DEF 14A | 2026-03-16 | 0002002473-26-000006 | CEO total compensation as printed in Bowhead Specialty Holdings Inc.'s own proxy. As printed: 4,309,280. Filing ↗machine: span 243043–243052 |
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