Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-06-10

Cincinnati Financial (CINF)

Fiscal year 2025 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.

$5,943,492
Stephen Spray total, FY2025
CEO pay percentile vs peers
46.3:1
CEO-to-median pay ratio
96.39%
Say-on-pay support, latest vote
Companies that benchmark against CINF
19 companies name CINF as a compensation peer

Each company listed discloses CINF 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 CINF in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.

01

Summary Compensation Table — fiscal year 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Stephen Spray$1,130,250$0$1,768,274$1,703,668$681,450$619,823$40,027$5,943,492
President and Chief Executive Officer
Michael Sewell1,073,13701,146,1591,011,001404,3840313,8013,948,482
Chief Financial Officer, Executive Vice President and Treasurer
Steven Johnston513,7500804,764774,399309,7500373,7792,776,442
Executive Chairman of the Board and former Chief Executive Officer
John Kellington748,2970799,736704,960281,9770184,4902,719,460
Chief Information Officer and Executive Vice President
Teresa Cracas681,3520728,436641,910256,7500189,7642,498,212
Chief Risk Officer and Executive Vice President

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 officerFY2025 totalFY2024 totalFY2023 totalΔ FY20242025
Stephen Spray$5,943,492
Michael Sewell3,948,482
Steven Johnston2,776,442
John Kellington2,719,460
Teresa Cracas2,498,212

Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.

02

Equity transactions since the proxy statement was filed

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.

InsiderRoleTransaction dateCodeSharesPriceValueSecuritySource
Teresa CracasEVP, Chief Risk Off. - Sub2026-04-29D15,386$0$0Derivative, Class A CommonForm 4 ↗
Teresa CracasEVP, Chief Risk Off. - Sub2026-04-29D10,3211641,691,818CommonForm 4 ↗
John KellingtonEVP, Chief Info Off. -Sub2026-04-29D18,9351643,103,825CommonForm 4 ↗
Dividend-equivalent accruals2026-04-299571 insider, 1 accrual row
Luyang FuSr. VP, Chief Actuary - Sub2026-04-29D14716424,096CommonForm 4 ↗
Luyang FuSr. VP, Chief Actuary - Sub2026-04-29A9577168,129CommonForm 4 ↗
John KellingtonEVP, Chief Info Off. -Sub2026-04-29D28,15600Derivative, Class A CommonForm 4 ↗
John KellingtonEVP, Chief Info Off. -Sub2026-04-29A28,156712,004,426CommonForm 4 ↗
Teresa CracasEVP, Chief Risk Off. - Sub2026-04-29A15,386711,087,790CommonForm 4 ↗
Michael SewellCFO, EVP & Treasurer2026-05-01D36,90900Derivative, Class A CommonForm 4 ↗
Michael SewellCFO, EVP & Treasurer2026-05-01D8,8221641,442,750CommonForm 4 ↗
Michael SewellCFO, EVP & Treasurer2026-05-01A36,909712,609,466CommonForm 4 ↗
Roger A. BrownSr VP, COO - Subsidary2026-05-05D6,90000Derivative, Class A CommonForm 4 ↗
Roger A. BrownSr VP, COO - Subsidary2026-05-05A6,90071491,211CommonForm 4 ↗
Roger A. BrownSr VP, COO - Subsidary2026-05-05D4,685160749,038CommonForm 4 ↗
Roger A. BrownSr VP, COO - Subsidary2026-05-05D2,50000CommonForm 4 ↗
Thomas Christopher HoganEVP/CLO & Corp Secretary2026-05-07A9577168,129CommonForm 4 ↗
Thomas Christopher HoganEVP/CLO & Corp Secretary2026-05-07D7416111,911CommonForm 4 ↗
Dividend-equivalent accruals2026-05-071,4441 insider, 2 accrual rows
Thomas Christopher HoganEVP/CLO & Corp Secretary2026-05-07A4877134,431CommonForm 4 ↗
Thomas Christopher HoganEVP/CLO & Corp Secretary2026-05-07D14516123,339CommonForm 4 ↗
Charles O. SchiffDirector2026-05-11D27,12200CommonForm 4 ↗
Luyang FuSr. VP, Chief Actuary - Sub2026-05-28A7748666,309CommonForm 4 ↗
Dividend-equivalent accruals2026-05-287741 insider, 1 accrual row
Luyang FuSr. VP, Chief Actuary - Sub2026-05-28D9916115,959CommonForm 4 ↗
John KellingtonEVP, Chief Info Off. -Sub2026-06-08D17,5361642,871,169CommonForm 4 ↗
John KellingtonEVP, Chief Info Off. -Sub2026-06-08A24,221862,075,013CommonForm 4 ↗
John KellingtonEVP, Chief Info Off. -Sub2026-06-08D24,22100Derivative, Class A CommonForm 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.

View all 29 transactions
InsiderRoleTransaction dateCodeSharesPriceValueSecuritySource
Teresa CracasEVP, Chief Risk Off. - Sub2026-04-29D15,386$0$0Derivative, Class A CommonForm 4 ↗
Teresa CracasEVP, Chief Risk Off. - Sub2026-04-29D10,3211641,691,818CommonForm 4 ↗
John KellingtonEVP, Chief Info Off. -Sub2026-04-29D18,9351643,103,825CommonForm 4 ↗
Luyang FuSr. VP, Chief Actuary - Sub2026-04-29D95700Derivative, Class A CommonForm 4 ↗
Luyang FuSr. VP, Chief Actuary - Sub2026-04-29D14716424,096CommonForm 4 ↗
Luyang FuSr. VP, Chief Actuary - Sub2026-04-29A9577168,129CommonForm 4 ↗
John KellingtonEVP, Chief Info Off. -Sub2026-04-29D28,15600Derivative, Class A CommonForm 4 ↗
John KellingtonEVP, Chief Info Off. -Sub2026-04-29A28,156712,004,426CommonForm 4 ↗
Teresa CracasEVP, Chief Risk Off. - Sub2026-04-29A15,386711,087,790CommonForm 4 ↗
Michael SewellCFO, EVP & Treasurer2026-05-01D36,90900Derivative, Class A CommonForm 4 ↗
Michael SewellCFO, EVP & Treasurer2026-05-01D8,8221641,442,750CommonForm 4 ↗
Michael SewellCFO, EVP & Treasurer2026-05-01A36,909712,609,466CommonForm 4 ↗
Roger A. BrownSr VP, COO - Subsidary2026-05-05D6,90000Derivative, Class A CommonForm 4 ↗
Roger A. BrownSr VP, COO - Subsidary2026-05-05A6,90071491,211CommonForm 4 ↗
Roger A. BrownSr VP, COO - Subsidary2026-05-05D4,685160749,038CommonForm 4 ↗
Roger A. BrownSr VP, COO - Subsidary2026-05-05D2,50000CommonForm 4 ↗
Thomas Christopher HoganEVP/CLO & Corp Secretary2026-05-07A9577168,129CommonForm 4 ↗
Thomas Christopher HoganEVP/CLO & Corp Secretary2026-05-07D7416111,911CommonForm 4 ↗
Thomas Christopher HoganEVP/CLO & Corp Secretary2026-05-07D48700Derivative, Class A CommonForm 4 ↗
Thomas Christopher HoganEVP/CLO & Corp Secretary2026-05-07A4877134,431CommonForm 4 ↗
Thomas Christopher HoganEVP/CLO & Corp Secretary2026-05-07D14516123,339CommonForm 4 ↗
Thomas Christopher HoganEVP/CLO & Corp Secretary2026-05-07D95700Derivative, Class A CommonForm 4 ↗
Charles O. SchiffDirector2026-05-11D27,12200CommonForm 4 ↗
Luyang FuSr. VP, Chief Actuary - Sub2026-05-28A7748666,309CommonForm 4 ↗
Luyang FuSr. VP, Chief Actuary - Sub2026-05-28D77400Derivative, Class A CommonForm 4 ↗
Luyang FuSr. VP, Chief Actuary - Sub2026-05-28D9916115,959CommonForm 4 ↗
John KellingtonEVP, Chief Info Off. -Sub2026-06-08D17,5361642,871,169CommonForm 4 ↗
John KellingtonEVP, Chief Info Off. -Sub2026-06-08A24,221862,075,013CommonForm 4 ↗
John KellingtonEVP, Chief Info Off. -Sub2026-06-08D24,22100Derivative, Class A CommonForm 4 ↗
03

Grants of plan-based awards — fiscal year 2025

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Steven JohnstonPSU2025-02-171,6895,63011,260$680,273
Teresa CracasRSU2025-02-171,245162,871
Michael SewellRSU2025-11-14101,651
Teresa CracasRSU2025-11-14101,651
Teresa CracasPSU2025-02-171,4014,6679,334563,914
Stephen SprayPSU2025-02-173,71612,38524,7701,496,480
Michael SewellRSU2025-02-171,960256,407
Stephen SprayRSU2025-02-172,065270,143
Stephen SprayRSU2025-11-14101,651
John KellingtonPSU2025-02-171,5385,12510,250619,254
John KellingtonRSU2025-11-14101,651
Steven JohnstonRSU2025-02-17939122,840
Michael SewellPSU2025-02-172,2057,35014,700888,101
John KellingtonOPTION2025-02-1716,000704,960
Teresa CracasOPTION2025-02-1714,569641,910
Steven JohnstonOPTION2025-02-1717,576774,399
Michael SewellOPTION2025-02-1722,9461,011,001
Steven JohnstonRSU2025-11-14101,651
John KellingtonRSU2025-02-171,367178,831
Stephen SprayOPTION2025-02-1738,6671,703,668
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Steven Johnston$124,491$680,273$774,39943.1%
Teresa Cracas164,522563,914641,91041.2%
Michael Sewell258,058888,1011,011,00141.2%
Stephen Spray271,7941,496,4801,703,66843.1%
John Kellington180,482619,254704,96041.2%

% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.

04

Outstanding equity awards at fiscal year-end 2025

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Stephen SprayRSU12,385$2,022,718
Michael SewellRSU7,4981,224,573
Teresa CracasRSU1,245203,333
Teresa CracasRSU4,667762,214
Michael SewellRSU667108,934
Steven JohnstonRSU14,4092,353,278
Stephen SprayRSU14,0032,286,970
John KellingtonRSU5,125837,015
Stephen SprayRSU6,8101,112,209
Teresa CracasOption12,514112.36
Steven JohnstonRSU16,7472,735,120
Michael SewellRSU8,7151,423,334
John KellingtonOption16,000137.56
Stephen SprayRSU1,556254,126
Teresa CracasOption14,569137.56
Teresa CracasRSU5,533903,650
John KellingtonRSU1,081176,549
Teresa CracasRSU984160,707
John KellingtonRSU1,367223,258
Steven JohnstonRSU801130,819
Steven JohnstonOption37,875112.36
Stephen SprayOption31,670112.36
Michael SewellOption22,946137.56
Stephen SprayOption38,667137.56
Michael SewellOption8,211125.57
Teresa CracasOption5,213125.57
Teresa CracasRSU42369,084
Michael SewellOption19,709112.36
John KellingtonOption13,743112.36
Stephen SprayRSU2,065337,256
Michael SewellRSU1,960320,107
Steven JohnstonRSU1,861303,939
Stephen SprayOption7,458125.57
Stephen SprayRSU60598,809
Steven JohnstonOption15,779125.57
Steven JohnstonRSU939153,357
Michael SewellRSU7,3501,200,402
John KellingtonRSU6,077992,496
John KellingtonRSU46575,944
Steven JohnstonRSU5,630919,492
John KellingtonRSU5,229854,000
Teresa CracasRSU4,761777,567
Steven JohnstonOption17,576137.56
Michael SewellRSU1,549252,983
John KellingtonOption5,726125.57
05

Incentive-plan design — the Compensation Discussion & Analysis

The objective of our compensation program is to attract, motivate, reward, develop and retain the executive talent required for our long-term success. To achieve this objective, we seek to ensure that compensation is competitive and that there is a direct link between pay and performance.

CEO STI target (% of salary)200%
CEO LTI target (% of salary)
Independent consultantnot disclosed
Clawback policytrue
Anti-hedgingtrue
Anti-pledgingTrue
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-05-02118,190,8634,425,146263,47196.39%Passed
20252025-05-03117,868,7745,603,679879,23695.46%Passed
20242024-05-04112,585,1274,891,426606,60695.84%Passed
20232023-05-06119,931,6795,407,743434,00695.69%Passed
20222022-05-07119,633,5185,636,563764,39295.5%Passed
20212021-05-08124,044,9033,664,488745,64097.13%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 yearMeeting dateApproval — company's computation
20262026-05-0296.39%a
20252025-05-0395.46%b
20242024-05-0495.84%c

a. Approved under the standard stated in the filing — “Abstentions and broker nonvotes have no effect on the voting for this proposal.”.

b. Approved under the standard stated in the filing — “Votes to abstain have the same effect as votes against the proposal. Broker nonvotes have no effect on the voting for this proposal.”.

c. Approved under the standard stated in the filing — “Votes to abstain have the same effect as votes against the proposal.”.

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.

07

CEO pay ratio

Ratio (CEO : median employee)46.3 : 1
CEO total compensation$5,943,492
Median employee compensation$128,245
08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Dirk J. DebbinkIndependent · Lead Independent Director · Audit · Executive · Investment · Nominating (Chair)$228,000$135,020$0$0$17,922$380,942
Gretchen W. ScharIndependent · Audit (Chair) · Compensation · Nominating160,000135,0200012,313307,333
David P. OsbornIndependent · Audit · Compensation (Chair) · Investment166,000135,020003,150304,170
Larry R. WebbIndependent · Executive · Investment136,500135,0200024,021295,541
Nancy C. BenacciIndependent · Audit · Investment141,000135,0200012,157288,177
Douglas S. SkidmoreIndependent · Executive · Nominating135,000135,0200018,054288,074
Charles O. SchiffIndependent · Investment135,000135,0200016,067286,087
Cheng-sheng Peter WuIndependent · Audit135,000135,0200015,962285,982
Linda W. Clement-HolmesIndependent · Audit · Compensation · Nominating135,000135,0200015,545285,565
John F. Steele, JrIndependent · Executive135,000135,0200014,755284,775
Jill P. MeyerIndependent · Compensation · Nominating135,000135,020001,568271,588
Edward S. WilkinsIndependent · Audit · Newly elected99,56099,6310014,983214,174
Steven J. JohnstonEmployee director · Board Chair · Executive (Chair) · Investment (Chair)000000
Stephen M. SprayEmployee director · Executive · Investment000000
09

Board fee structure and ownership guideline

Annual cash retainer$75,000
Annual equity retainer$75,000
Per board meeting fee$4,500
Committee chair fees (audit / comp / nom-gov)50,000
Stock ownership guidelineAll of our directors and executive officers are in compliance with our published stock ownership guidelines.
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$1,741,060
Equity awards (grant-date value)$1,584,851
All other compensation$166,497
Total cost of the board$3,492,408

Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.

10

Disclosed peer group — fiscal year 2025

The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.

10a

Peer reciprocity

Of the companies Cincinnati Financial names as compensation peers, which name it back in their own disclosed peer groups. A peer set the market reciprocates reads differently from one selected in a single direction.

Reciprocity shown where the peer's own current proxy has been read — each mark is cited in the register to that peer's filing. A dash means the peer's current proxy was read and names no reciprocal group including Cincinnati Financial.

10b

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.

RankCompanyFYChief executiveSalaryStock awardsOption awardsNon-equity incentiveTotal
1The Travelers Companies Inc.2025Alan Schnitzer$1,450,000$9,417,364$6,100,056$9,000,000$26,968,756
2The Allstate Corporation2025Thomas Wilson1,465,38510,886,4004,530,2275,597,23522,920,898
3Hartford Financial Services Group Inc.2025Christopher Swift1,200,00010,982,7903,412,5005,808,00022,114,212
4W.R. Berkley Corporation2025W. Robert Berkley, Jr.1,097,8003,850,038011,176,03016,823,866
5Markel Group Inc.2025Thomas Gayner1,100,0009,226,08103,740,00014,124,065
6CNA Financial Corporation2025Douglas Worman1,100,0004,999,97005,500,00012,619,149
7Hanover Insurance Group Inc.2025John Roche1,138,4624,603,5571,400,0233,220,00010,486,571
8Selective Insurance Group Inc.2025John Marchioni1,050,0004,000,07601,575,0006,858,564
9Cincinnati Financial2025Stephen Spray1,130,2501,768,2741,703,668681,4505,943,492
10United Fire Group Inc.2025Kevin Leidwinger821,0001,656,00801,350,9343,896,774

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.

10c

Incentive design against the same peers

CompanyAnnual incentive payoutLong-term vehicle mixPSU measures include TSRCompensation consultant
Cincinnati Financial30%Options 50 · PSU 50Nonot disclosed
CNA Financial Corporation103%PSU 100NoWillis Towers Watson
Hanover Insurance Group Inc.140%PSU 50 · RSU 25 · Options 25NoCompensation Advisory Partners LLC
Hartford Financial Services Group Inc.176%PSU 75 · Options 25Yes — Peer-relative TSRCompensation Advisory Partners, LLP (CAP)
Markel Group Inc.not disclosedPSU 75 · RSU 25NoCompensation Advisory Partners LLC (CAP)
Selective Insurance Group Inc.150.0%RSU 75 · Cash LTI 25Yes — Cumulative TSR over the three-year performance periodExequity LLP
The Allstate Corporation127.2%PSA 70 · Option 30Yes — Relative Total Shareholder Return (TSR)Pay Governance
The Travelers Companies Inc.not disclosedPSU 60 · Options 40NoFW Cook
United Fire Group Inc.130%PSU 50 · RSU 50NoMercer
W.R. Berkley Corporationnot disclosednot disclosedNoMeridian

Read from each company's Compensation Discussion and Analysis: annual incentive payout as a percentage of target, the disclosed long-term vehicle mix, whether performance-share measures include a total shareholder return component, and the retained compensation consultant. “Not disclosed” appears only where the company's filing does not state the item.

11

Source register

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.

#SupportsDocumentFiledAccessionLocation in document
1Section 01, Stephen SprayDEF 14A2026-03-180000020286-26-000015Section “2025 Summary Compensation Table”. As printed: 5,943,492. Filing ↗machine: t3 · r2 · c13 · span 164603–164612
2Section 01, Michael SewellDEF 14A2026-03-180000020286-26-000015Section “2025 Summary Compensation Table”. As printed: 3,948,482. Filing ↗machine: t3 · r5 · c13 · span 168545–168554
3Section 01, Steven JohnstonDEF 14A2026-03-180000020286-26-000015Section “2025 Summary Compensation Table”. As printed: 2,776,442. Filing ↗machine: t3 · r8 · c13 · span 172471–172480
4Section 01, John KellingtonDEF 14A2026-03-180000020286-26-000015Section “2025 Summary Compensation Table”. As printed: 2,719,460. Filing ↗machine: t23 · r17 · c16 · span 757258–757267
5Section 01, Teresa CracasDEF 14A2026-03-180000020286-26-000015Section “2025 Summary Compensation Table”. As printed: 2,498,212. Filing ↗machine: t23 · r22 · c16 · span 766813–766822
6Section 03, Steven Johnston PSUDEF 14A2026-03-180000020286-26-000015Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t18 · r4 · c2 · span 628688–628693
7Section 03, Teresa Cracas RSUDEF 14A2026-03-180000020286-26-000015Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t18 · r6 · c3 · span 630763–630768
8Section 03, Michael Sewell RSUDEF 14A0000020286-26-000015Section “SERP” · grants of plan-based awards table. Filing ↗machine: t25 · r19 · c8 · span 869225–869227
9Section 03, Teresa Cracas RSUDEF 14A0000020286-26-000015Section “SERP” · grants of plan-based awards table. Filing ↗machine: t27 · r3 · c7 · span 945952–945954
10Section 03, Teresa Cracas PSUDEF 14A2026-03-180000020286-26-000015Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t18 · r6 · c2 · span 630525–630530
11Section 03, Stephen Spray PSUDEF 14A2026-03-180000020286-26-000015Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t18 · r2 · c2 · span 626905–626911
12Section 03, Michael Sewell RSUDEF 14A2026-03-180000020286-26-000015Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t18 · r3 · c3 · span 628020–628025
13Section 03, Stephen Spray RSUDEF 14A2026-03-180000020286-26-000015Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t18 · r2 · c3 · span 627144–627149
14Section 03, Stephen Spray RSUDEF 14A0000020286-26-000015Section “SERP S” · grants of plan-based awards table. Filing ↗machine: t32 · r4 · c10 · span 1055657–1055659
15Section 03, John Kellington PSUDEF 14A2026-03-180000020286-26-000015Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t18 · r5 · c2 · span 629563–629568
16Section 03, John Kellington RSUDEF 14A0000020286-26-000015Section “RSU. S” · grants of plan-based awards table. Filing ↗machine: t19 · r12 · c5 · span 653886–653888
17Section 03, Steven Johnston RSUDEF 14A2026-03-180000020286-26-000015Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t18 · r4 · c3 · span 628897–628900
18Section 03, Michael Sewell PSUDEF 14A2026-03-180000020286-26-000015Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t18 · r3 · c2 · span 627811–627816
19Section 03, John Kellington OPTIONDEF 14A2026-03-180000020286-26-000015Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t3 · r11 · c6 · span 175103–175110
20Section 03, Teresa Cracas OPTIONDEF 14A2026-03-180000020286-26-000015Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t3 · r14 · c6 · span 179014–179021
21Section 03, Steven Johnston OPTIONDEF 14A2026-03-180000020286-26-000015Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t3 · r8 · c6 · span 171169–171176
22Section 03, Michael Sewell OPTIONDEF 14A2026-03-180000020286-26-000015Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t3 · r5 · c6 · span 167244–167253
23Section 03, Steven Johnston RSUDEF 14A0000020286-26-000015Section “SERP” · grants of plan-based awards table. Filing ↗machine: t26 · r3 · c8 · span 897558–897560
24Section 03, John Kellington RSUDEF 14A2026-03-180000020286-26-000015Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t18 · r5 · c3 · span 629772–629777
25Section 03, Stephen Spray OPTIONDEF 14A2026-03-180000020286-26-000015Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t3 · r2 · c6 · span 163300–163309
26Section 07, pay ratioDEF 14A2026-03-180000020286-26-000015Section “CEO Pay Ratio”. As printed: 46.3 : 1. Filing ↗
27Section 08, Dirk J. DebbinkDEF 14A2026-03-180000020286-26-000015Section “Director Compensation”. As printed: 380,942. Filing ↗machine: t9 · r5 · c7 · span 371117–371124
28Section 08, Gretchen W. ScharDEF 14A2026-03-180000020286-26-000015Section “Director Compensation”. As printed: 307,333. Filing ↗machine: t9 · r8 · c7 · span 375492–375499
29Section 08, David P. OsbornDEF 14A2026-03-180000020286-26-000015Section “Director Compensation”. As printed: 304,170. Filing ↗machine: t9 · r7 · c7 · span 374031–374038
30Section 08, Larry R. WebbDEF 14A2026-03-180000020286-26-000015Section “Director Compensation”. As printed: 295,541. Filing ↗machine: t9 · r12 · c7 · span 381336–381343
31Section 08, Nancy C. BenacciDEF 14A2026-03-180000020286-26-000015Section “Director Compensation”. As printed: 288,177. Filing ↗machine: t9 · r3 · c7 · span 368194–368201
32Section 08, Douglas S. SkidmoreDEF 14A2026-03-180000020286-26-000015Section “Director Compensation”. As printed: 288,074. Filing ↗machine: t9 · r10 · c7 · span 378416–378423
33Section 08, Charles O. SchiffDEF 14A2026-03-180000020286-26-000015Section “Director Compensation”. As printed: 286,087. Filing ↗machine: t9 · r9 · c7 · span 376953–376960
34Section 08, Cheng-sheng Peter WuDEF 14A2026-03-180000020286-26-000015Section “Director Compensation”. As printed: 285,982. Filing ↗machine: t9 · r14 · c7 · span 384259–384266
35Section 08, Linda W. Clement-HolmesDEF 14A2026-03-180000020286-26-000015Section “Director Compensation”. As printed: 285,565. Filing ↗machine: t9 · r4 · c7 · span 369658–369665
36Section 08, John F. Steele, JrDEF 14A2026-03-180000020286-26-000015Section “Director Compensation”. As printed: 284,775. Filing ↗machine: t9 · r11 · c7 · span 379879–379886
37Section 08, Jill P. MeyerDEF 14A2026-03-180000020286-26-000015Section “Director Compensation”. As printed: 271,588. Filing ↗machine: t9 · r6 · c7 · span 372573–372580
38Section 08, Edward S. WilkinsDEF 14A2026-03-180000020286-26-000015Section “Director Compensation”. As printed: 214,174. Filing ↗machine: t9 · r13 · c7 · span 382795–382802
39Section 08, Steven J. JohnstonDEF 14A2026-03-180000020286-26-000015Section “Director Compensation”. As printed: 0. Filing ↗
40Section 08, Stephen M. SprayDEF 14A2026-03-180000020286-26-000015Section “Director Compensation”. As printed: 0. Filing ↗
41Section 02, Teresa Cracas 2026-04-29Form 42026-05-010001519774-26-000006Insider equity transaction reported since the proxy statement. Filing ↗
42Section 02, Teresa Cracas 2026-04-29Form 42026-05-010001519774-26-000006Insider equity transaction reported since the proxy statement. Filing ↗
43Section 02, John Kellington 2026-04-29Form 42026-05-010001141268-26-000006Insider equity transaction reported since the proxy statement. Filing ↗
44Section 02, Luyang Fu 2026-04-29Form 42026-05-010002110299-26-000008Insider equity transaction reported since the proxy statement. Filing ↗
45Section 02, Luyang Fu 2026-04-29Form 42026-05-010002110299-26-000008Insider equity transaction reported since the proxy statement. Filing ↗
46Section 02, Luyang Fu 2026-04-29Form 42026-05-010002110299-26-000008Insider equity transaction reported since the proxy statement. Filing ↗
47Section 02, John Kellington 2026-04-29Form 42026-05-010001141268-26-000006Insider equity transaction reported since the proxy statement. Filing ↗
48Section 02, John Kellington 2026-04-29Form 42026-05-010001141268-26-000006Insider equity transaction reported since the proxy statement. Filing ↗
49Section 02, Teresa Cracas 2026-04-29Form 42026-05-010001519774-26-000006Insider equity transaction reported since the proxy statement. Filing ↗
50Section 02, Michael Sewell 2026-05-01Form 42026-05-050001522167-26-000006Insider equity transaction reported since the proxy statement. Filing ↗
51Section 02, Michael Sewell 2026-05-01Form 42026-05-050001522167-26-000006Insider equity transaction reported since the proxy statement. Filing ↗
52Section 02, Michael Sewell 2026-05-01Form 42026-05-050001522167-26-000006Insider equity transaction reported since the proxy statement. Filing ↗
53Section 02, Roger A. Brown 2026-05-05Form 42026-05-070001674175-26-000007Insider equity transaction reported since the proxy statement. Filing ↗
54Section 02, Roger A. Brown 2026-05-05Form 42026-05-070001674175-26-000007Insider equity transaction reported since the proxy statement. Filing ↗
55Section 02, Roger A. Brown 2026-05-05Form 42026-05-070001674175-26-000007Insider equity transaction reported since the proxy statement. Filing ↗
56Section 02, Roger A. Brown 2026-05-05Form 42026-05-070001674175-26-000007Insider equity transaction reported since the proxy statement. Filing ↗
57Section 02, Thomas Christopher Hogan 2026-05-07Form 42026-05-110002023036-26-000008Insider equity transaction reported since the proxy statement. Filing ↗
58Section 02, Thomas Christopher Hogan 2026-05-07Form 42026-05-110002023036-26-000008Insider equity transaction reported since the proxy statement. Filing ↗
59Section 02, Thomas Christopher Hogan 2026-05-07Form 42026-05-110002023036-26-000008Insider equity transaction reported since the proxy statement. Filing ↗
60Section 02, Thomas Christopher Hogan 2026-05-07Form 42026-05-110002023036-26-000008Insider equity transaction reported since the proxy statement. Filing ↗
61Section 02, Thomas Christopher Hogan 2026-05-07Form 42026-05-110002023036-26-000008Insider equity transaction reported since the proxy statement. Filing ↗
62Section 02, Thomas Christopher Hogan 2026-05-07Form 42026-05-110002023036-26-000008Insider equity transaction reported since the proxy statement. Filing ↗
63Section 02, Charles O. Schiff 2026-05-11Form 42026-05-130001820994-26-000006Insider equity transaction reported since the proxy statement. Filing ↗
64Section 02, Luyang Fu 2026-05-28Form 42026-06-010002110299-26-000010Insider equity transaction reported since the proxy statement. Filing ↗
65Section 02, Luyang Fu 2026-05-28Form 42026-06-010002110299-26-000010Insider equity transaction reported since the proxy statement. Filing ↗
66Section 02, Luyang Fu 2026-05-28Form 42026-06-010002110299-26-000010Insider equity transaction reported since the proxy statement. Filing ↗
67Section 02, John Kellington 2026-06-08Form 42026-06-100001141268-26-000008Insider equity transaction reported since the proxy statement. Filing ↗
68Section 02, John Kellington 2026-06-08Form 42026-06-100001141268-26-000008Insider equity transaction reported since the proxy statement. Filing ↗
69Section 02, John Kellington 2026-06-08Form 42026-06-100001141268-26-000008Insider equity transaction reported since the proxy statement. Filing ↗
70Section 06, 2026 voteForm 8-K2026-05-060000020286-26-000030Item 5.07 · say-on-pay result. As reported: 96.39% (votes for as printed: 118,190,863). Filing ↗
71Section 06, 2025 voteForm 8-K2025-05-070000020286-25-000032Item 5.07 · say-on-pay result. As reported: 95.46% (votes for as printed: 117,868,774). Filing ↗
72Section 06, 2024 voteForm 8-K2024-05-090000020286-24-000033Item 5.07 · say-on-pay result. As reported: 95.84% (votes for as printed: 112,585,127). Filing ↗
73Section 03b vehicle mix (computed)ComputedcomputedRSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).machine: formula: sums + PSU ratio
74Section 09b board cost (computed)ComputedcomputedCash 1,741,060 + equity 1,584,851 + all other 166,497 = 3,492,408, summed across the director compensation table rows.machine: formula: Σ = 3,492,408
75The Travelers Companies Inc., Section 10b CEO totalDEF 14A2026-04-070000086312-26-000103CEO total compensation as printed in The Travelers Companies Inc.'s own proxy. As printed: 26,968,756. Filing ↗machine: r2 · c9 · span 2959229–2959239
76The Allstate Corporation, Section 10b CEO totalDEF 14A2026-04-100000899051-26-000063CEO total compensation as printed in The Allstate Corporation's own proxy. As printed: 22,920,898. Filing ↗machine: r4 · c27 · span 2365026–2365036
77Hartford Financial Services Group Inc., Section 10b CEO totalDEF 14A2026-04-090000874766-26-000025CEO total compensation as printed in Hartford Financial Services Group Inc.'s own proxy. As printed: 22,114,212. Filing ↗machine: r2 · c51 · span 1020351–1020361
78W.R. Berkley Corporation, Section 10b CEO totalDEF 14A2026-04-220001193125-26-170583CEO total compensation as printed in W.R. Berkley Corporation's own proxy. As printed: 16,823,866. Filing ↗machine: t411 · r4 · c21 · span 915307–915317
79Markel Group Inc., Section 10b CEO totalDEF 14A2026-04-020001096343-26-000033CEO total compensation as printed in Markel Group Inc.'s own proxy. As printed: 14,124,065. Filing ↗machine: r2 · c45 · span 566440–566451
80CNA Financial Corporation, Section 10b CEO totalDEF 14A2026-03-200001104659-26-032500CEO total compensation as printed in CNA Financial Corporation's own proxy. As printed: 12,619,149. Filing ↗machine: r1 · c44 · span 576701–576711
81Hanover Insurance Group Inc., Section 10b CEO totalDEF 14A2026-03-260001193125-26-125009CEO total compensation as printed in Hanover Insurance Group Inc.'s own proxy. As printed: 10,486,571. Filing ↗machine: t68 · r4 · c7 · span 1352246–1352256
82Selective Insurance Group Inc., Section 10b CEO totalDEF 14A2026-03-260001104659-26-034953CEO total compensation as printed in Selective Insurance Group Inc.'s own proxy. As printed: 6,858,564. Filing ↗machine: span 752843–752852
83Cincinnati Financial (subject), Section 10b CEO totalDEF 14A2026-03-180000020286-26-000015CEO total compensation as printed in Cincinnati Financial's own proxy. As printed: 5,943,492. Filing ↗machine: t3 · r2 · c13 · span 164603–164612
84United Fire Group Inc., Section 10b CEO totalDEF 14A2026-04-070000101199-26-000020CEO total compensation as printed in United Fire Group Inc.'s own proxy. As printed: 3,896,774. Filing ↗machine: r2 · c54 · span 775843–775852
85Section 10a, W.R. Berkley Corporation reciprocityDEF 14A0001193125-26-170583W.R. Berkley Corporation's most recent proxy was read; its disclosed peer group does not include Cincinnati Financial. Filing ↗
86Section 10a, Hanover Insurance Group Inc. reciprocityDEF 14A0001193125-26-125009Hanover Insurance Group Inc. names Cincinnati Financial in its own disclosed peer group (read from its most recent proxy). Filing ↗
87Section 10a, The Allstate Corporation reciprocityDEF 14A0000899051-26-000063The Allstate Corporation's most recent proxy was read; its disclosed peer group does not include Cincinnati Financial. Filing ↗
88Section 10a, The Travelers Companies Inc. reciprocityDEF 14A0000086312-26-000103The Travelers Companies Inc.'s most recent proxy was read; its disclosed peer group does not include Cincinnati Financial. Filing ↗
89Section 10a, United Fire Group Inc. reciprocityDEF 14A0000101199-26-000020United Fire Group Inc.'s most recent proxy was read; its disclosed peer group does not include Cincinnati Financial. Filing ↗
90Section 10a, CNA Financial Corporation reciprocityDEF 14A0001104659-26-032500CNA Financial Corporation names Cincinnati Financial in its own disclosed peer group (read from its most recent proxy). Filing ↗