Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-08-05

CNA FINANCIAL CORP (CNA)

CEO Douglas Worman was paid $12,619,149 in fiscal year 2025, ↑ up 47.0% from fiscal year 2024, the 22nd percentile of its disclosed peer group (SEC filing 0001104659-26-032500 ↗): 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.

$12,619,149 ↑
Douglas Worman total, FY2025
22nd
CEO pay percentile vs peers
91:1
CEO-to-median pay ratio
96.48%
Say-on-pay support, latest vote

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Sample answer — “What is the CEO’s total compensation?”
- Douglas Worman (Chief Executive Officer), FY2025 total compensation $12,619,149 (base salary $1,100,000) [exec_comp, SEC accession 0001104659-26-032500, filed 2026-03-20]

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CNA's next annual pay disclosure, estimated March 19, 2027.est. Filing ↗

01

Summary Compensation Table — fiscal year 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Douglas Worman$1,100,000$0$4,999,970$0$5,500,000$0$1,019,179$12,619,149
Chief Executive Officer
Dino Robusto6,000,0002,000,00000002,111,94510,111,945
Executive Chairman
Scott Lindquist802,50001,754,98501,940,0000554,3025,051,787
EVP & Chief Financial Officer
Daniel Franzetti795,00001,559,96001,910,0000439,0274,703,987
EVP & Chief Administrative Officer
Susan Stone408,33301,049,9910002,968,2694,426,593
EVP & General Counsel
Jane Possell662,5000937,45201,300,0000233,5063,133,458
EVP & Chief Information, Analytics, and Operations 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 officerFY2025 totalFY2024 totalFY2023 totalΔ FY2024→2025
Douglas Worman$12,619,149$8,585,558$7,944,099↑ +4,033,591
Dino Robusto10,111,94516,076,49316,084,212↓ −5,964,548
Scott Lindquist5,051,7874,541,3564,196,564↑ +510,431
Daniel Franzetti4,703,9874,494,9384,301,740↑ +209,049
Susan Stone4,426,5933,106,1603,206,262↑ +1,320,433
Jane Possell3,133,458———

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

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$12,619,149 Douglas Worman total, FY2025

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Data as of August 5, 2026 · Source: 0001104659-26-032500 · Velarion Executive Compensation Database, deposited on Zenodo (doi:10.5281/zenodo.22283855).

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Companies that benchmark against CNA
17 companies name CNA as a compensation peer

Each company listed discloses CNA 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 CNA 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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01c

Board of directors

One page per director: the seat, the committees and the fee table, read for one person at a time.

DirectorRoleFY2025 total
André RiceIndependent Director—
Andrew H. TischDirector—
Benjamin J. TischDirector—
Don M. RandelIndependent Director—
James S. TischDirector—
Jose O. MontemayorIndependent Director—
Michael A. BlessIndependent Director—
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
Mark Steven JamesEVP, Chief Risk & Rein Off2026-08-04D8,273$53$439,710CommonForm 4 ↗
Daniel FranzettiEVP & CAO2026-08-04D22,656531,202,807CommonForm 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.

03

Grants of plan-based awards — fiscal year 2025

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Daniel FranzettiPSA2025-03-1516,06532,131—64,262$1,559,960
Scott LindquistPSA2025-03-1518,07436,148—72,2961,754,985
Douglas WormanPSA2025-03-1551,493102,986—205,9724,499,970
Susan StonePSA2025-03-1510,81321,627—43,2541,049,991
Jane PossellPSA2025-03-159,65419,309—38,618937,452
03b

Vehicle mix — grant-date fair value by award type

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.

04

Outstanding equity awards at fiscal year-end 2025

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Daniel FranzettiRSU33,094—$1,579,908
Daniel FranzettiRSU34,938—1,667,940
Scott LindquistRSU37,232—1,777,456
Dino RobustoRSU165,716—7,911,282
Dino RobustoRSU128,109—6,115,924
Douglas WormanRSU106,075—5,064,021
Douglas WormanRSU74,572—3,560,067
Douglas WormanRSU66,383—3,169,124
Scott LindquistRSU42,182—2,013,769
Daniel FranzettiRSU40,674—1,941,777
Scott LindquistRSU39,305—1,876,421
Jane PossellRSU19,888—949,453
Jane PossellRSU18,342—875,647
Jane PossellRSU15,817—755,104
Susan StoneRSU12,937—617,612
05

Incentive-plan design — the Compensation Discussion & Analysis

We believe that our success is dependent upon the quality of senior management, and that compensation programs are important in attracting and retaining NEOs of superior ability and motivating their efforts on behalf of the Company. Accordingly, our compensation program for NEOs recognizes individual performance and contributions, as reflected both in the Company’s overall results and in each NEO’s contribution to them.

CEO STI target (% of salary)—
CEO LTI target (% of salary)—
Independent consultantWillis Towers Watson
Clawback policytrue
Anti-hedgingtrue
Anti-pledgingtrue
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-04-29252,589,1789,203,022499,18896.48%Passed
20252025-04-30258,775,7075,138,06980,97898.05%Passed
20242024-05-01255,730,0259,030,47358,72796.59%Passed
20232023-04-26261,057,4562,954,47133,92998.88%Passed
20222022-04-27257,103,6208,879,52946,62996.66%Passed
20212021-04-28247,621,96018,970,03142,11592.88%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
20262026-04-2996.48%a
20252025-04-3098.05%b
20242024-05-0196.59%c

a. Voting standard not stated in the filing.

b. Voting standard not stated in the filing.

c. Voting standard not stated in the filing.

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)91 : 1
CEO total compensation$12,619,149
Median employee compensation—
08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Benjamin J. TischNot independent · Finance (Chair)$0$0$0$0$0$0
Dino E. RobustoEmployee director—————0
Douglas M. WormanEmployee director · Board Chair · Executive—————0
Andrew H. TischNot independent · Executive · Audit133,000—————
Jane J. WangNot independent · Finance——————
Jose O. MontemayorIndependent · Audit · Compensation · Finance245,000—————
Michael A. BlessIndependent · Audit · Compensation230,000—————
Kenneth I. SiegelNot independent · Finance——————
André RiceIndependent · Audit · Compensation · Finance225,000—————
James S. TischNot independent · Executive · Finance · Audit133,000—————
Don M. RandelIndependent · Audit · Compensation225,000—————
09

Board fee structure and ownership guideline

Annual cash retainer$129,000
Annual equity retainer—
Per board meeting fee—
Committee chair fees (audit / comp / nom-gov)87,000 / 30,000
Stock ownership guideline—
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$1,191,000
Equity awards (grant-date value)$0
All other compensation$0
Total cost of the board$1,191,000

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 CNA FINANCIAL CORP 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 CNA FINANCIAL CORP.

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
1Chubb Limited2025Evan Greenberg$1,600,000$18,850,128$0—$33,180,582
2The Travelers Companies, Inc.2025Alan Schnitzer1,450,0009,417,3646,100,0569,000,00026,968,756
3The Allstate Corporation2025Thomas Wilson1,465,38510,886,4004,530,2275,597,23522,920,898
4The Hartford Financial Services Group, Inc.2025Christopher Swift1,200,00010,982,7903,412,5005,808,00022,114,212
5The Progressive Corporation2025Susan Patricia Griffith1,094,23111,000,278—5,443,79917,705,924
6W.R. Berkley Corporation2025W. Robert Berkley, Jr.1,097,8003,850,038011,176,03016,823,866
7Markel Corporation2025Thomas Gayner1,100,0009,226,08103,740,00014,124,065
8CNA FINANCIAL CORP2025Douglas Worman1,100,0004,999,97005,500,00012,619,149
9American Financial Group, Inc.2025S. Craig Lindner1,250,0001,500,009—6,454,77011,148,296
10Cincinnati Financial Corporation2025Stephen Spray1,130,2501,768,2741,703,668681,4505,943,492

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
CNA FINANCIAL CORPnot disclosedPSU 100not disclosedWillis Towers Watson
American Financial Group, Inc.not disclosednot disclosedNoPay Governance LLC
Chubb Limitednot disclosedPSU 100NoFarient Advisors LLC
Cincinnati Financial Corporation30%Options 50 · PSU 50Nonot disclosed
Markel Corporationnot disclosednot disclosedNoCAP
The Allstate Corporation127.2%PSA 70 · Option 30Yes — Relative Total Shareholder Return (TSR)Pay Governance
The Hartford Financial Services Group, Inc.176%not disclosedYes — Peer-relative TSRCompensation Advisory Partners, LLP (CAP)
The Progressive Corporation199%PSU 82 · RSU 18NoSemler Brossy
The Travelers Companies, Inc.not disclosedPSU 60 · Option 40NoFW Cook
W.R. Berkley Corporationnot disclosedPSU 100NoMeridian Compensation Partners, LLC

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.

10d

Frequently asked questions

Who was the highest-paid executive at CNA FINANCIAL CORP in fiscal 2025?
As disclosed, Douglas Worman (Chief Executive Officer) was the highest-paid executive at CNA FINANCIAL CORP in fiscal 2025, with total compensation of $12,619,149.
How does CNA FINANCIAL CORP's chief executive pay compare to its disclosed peer group?
As disclosed, Douglas Worman's total compensation ranked at the 22nd percentile of CNA FINANCIAL CORP's disclosed peer group.
What is CNA FINANCIAL CORP's CEO-to-median employee pay ratio?
As disclosed, CNA FINANCIAL CORP's CEO-to-median employee pay ratio was 91:1.
How did shareholders vote on CNA FINANCIAL CORP's executive compensation?
As disclosed, 96.48% of shareholders supported CNA FINANCIAL CORP's executive compensation in the latest say-on-pay vote.
How much does CNA FINANCIAL CORP spend in total on board compensation for fiscal 2025?
As disclosed, CNA FINANCIAL CORP reported total board compensation of $1,191,000 for fiscal 2025.

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.

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, Douglas WormanDEF 14A2026-03-200001104659-26-032500Section “Executive Compensation”. As printed: 12,619,149. Filing ↗machine: span 576701–576711
2Section 01, Dino RobustoDEF 14A2026-03-200001104659-26-032500Section “Executive Compensation”. As printed: 10,111,945. Filing ↗machine: span 611855–611865
3Section 01, Scott LindquistDEF 14A2026-03-200001104659-26-032500Section “Executive Compensation”. As printed: 5,051,787. Filing ↗machine: span 594612–594621
4Section 01, Daniel FranzettiDEF 14A2026-03-200001104659-26-032500Section “Executive Compensation”. As printed: 4,703,987. Filing ↗machine: span 629743–629752
5Section 01, Susan StoneDEF 14A2026-03-200001104659-26-032500Section “Executive Compensation”. As printed: 4,426,593. Filing ↗machine: span 653695–653704
6Section 01, Jane PossellDEF 14A2026-03-200001104659-26-032500Section “Executive Compensation”. As printed: 3,133,458. Filing ↗machine: span 647278–647287
7Section 03, Daniel Franzetti PSADEF 14A2026-03-200001104659-26-032500Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t67 · r8 · c38 · span 767299–767305
8Section 03, Scott Lindquist PSADEF 14A2026-03-200001104659-26-032500Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t67 · r4 · c38 · span 740516–740522
9Section 03, Douglas Worman PSADEF 14A2026-03-200001104659-26-032500Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t67 · r2 · c50 · span 728547–728556
10Section 03, Susan Stone PSADEF 14A2026-03-200001104659-26-032500Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t67 · r12 · c38 · span 794057–794063
11Section 03, Jane Possell PSADEF 14A2026-03-200001104659-26-032500Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t67 · r10 · c38 · span 780680–780686
12Section 07, pay ratioDEF 14A2026-03-200001104659-26-032500Section “CEO Pay Ratio”. As printed: 91 : 1. Filing ↗
13Section 08, Benjamin J. TischDEF 14A2026-03-200001104659-26-032500Section “Director Compensation”. As printed: 0. Filing ↗
14Section 08, Dino E. RobustoDEF 14A2026-03-200001104659-26-032500Section “Director Compensation”. As printed: 0. Filing ↗
15Section 08, Douglas M. WormanDEF 14A2026-03-200001104659-26-032500Section “Director Compensation”. As printed: 0. Filing ↗
16Section 08, Andrew H. TischDEF 14A2026-03-200001104659-26-032500Section “Director Compensation”. As printed: —. Filing ↗
17Section 08, Jane J. WangDEF 14A2026-03-200001104659-26-032500Section “Director Compensation”. As printed: —. Filing ↗
18Section 08, Jose O. MontemayorDEF 14A2026-03-200001104659-26-032500Section “Director Compensation”. As printed: —. Filing ↗
19Section 08, Michael A. BlessDEF 14A2026-03-200001104659-26-032500Section “Director Compensation”. As printed: —. Filing ↗
20Section 08, Kenneth I. SiegelDEF 14A2026-03-200001104659-26-032500Section “Director Compensation”. As printed: —. Filing ↗
21Section 08, André RiceDEF 14A2026-03-200001104659-26-032500Section “Director Compensation”. As printed: —. Filing ↗
22Section 08, James S. TischDEF 14A2026-03-200001104659-26-032500Section “Director Compensation”. As printed: —. Filing ↗
23Section 08, Don M. RandelDEF 14A2026-03-200001104659-26-032500Section “Director Compensation”. As printed: —. Filing ↗
24Section 02, Mark Steven James 2026-08-04Form 42026-08-050001940727-26-000004Insider equity transaction reported since the proxy statement. Filing ↗
25Section 02, Daniel Franzetti 2026-08-04Form 42026-08-040001811655-26-000004Insider equity transaction reported since the proxy statement. Filing ↗
26Section 06, 2026 voteForm 8-K2026-04-290000021175-26-000019Item 5.07 · say-on-pay result. As reported: 96.48% (votes for as printed: 252,589,178). Filing ↗
27Section 06, 2025 voteForm 8-K2025-04-300000021175-25-000040Item 5.07 · say-on-pay result. As reported: 98.05% (votes for as printed: 258,775,707). Filing ↗
28Section 06, 2024 voteForm 8-K2024-05-010000021175-24-000033Item 5.07 · say-on-pay result. As reported: 96.59% (votes for as printed: 255,730,025). Filing ↗
29Section 01 trend, Δ column (computed)Computed——Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
30Section 09b board cost (computed)Computed——Cash 1,191,000 + equity 0 + all other 0 = 1,191,000, summed across the director compensation table rows.machine: formula: Σ = 1,191,000
31Chubb Limited, Section 10b CEO totalDEF 14A2026-04-030001104659-26-039513CEO total compensation as printed in Chubb Limited's own proxy. As printed: 33,180,582. Filing ↗machine: span 1543364–1543374
32The 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
33The 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
34The Hartford Financial Services Group, Inc., Section 10b CEO totalDEF 14A2026-04-090000874766-26-000025CEO total compensation as printed in The Hartford Financial Services Group, Inc.'s own proxy. As printed: 22,114,212. Filing ↗machine: r2 · c51 · span 1020351–1020361
35The Progressive Corporation, Section 10b CEO totalDEF 14A2026-03-230000080661-26-000099CEO total compensation as printed in The Progressive Corporation's own proxy. As printed: 17,705,924. Filing ↗machine: t53 · r2 · c16 · span 816709–816719
36W.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
37Markel Corporation, Section 10b CEO totalDEF 14A2026-04-020001096343-26-000033CEO total compensation as printed in Markel Corporation's own proxy. As printed: 14,124,065. Filing ↗machine: r2 · c45 · span 566440–566451
38CNA FINANCIAL CORP (subject), Section 10b CEO totalDEF 14A2026-03-200001104659-26-032500CEO total compensation as printed in CNA FINANCIAL CORP's own proxy. As printed: 12,619,149. Filing ↗machine: span 576701–576711
39American Financial Group, Inc., Section 10b CEO totalDEF 14A2026-04-030001140361-26-013118CEO total compensation as printed in American Financial Group, Inc.'s own proxy. As printed: 11,148,296. Filing ↗
40Cincinnati Financial Corporation, Section 10b CEO totalDEF 14A2026-03-180000020286-26-000015CEO total compensation as printed in Cincinnati Financial Corporation's own proxy. As printed: 5,943,492. Filing ↗machine: t3 · r2 · c13 · span 164603–164612
41Section 10a, The Progressive Corporation reciprocityDEF 14A—0000080661-26-000099The Progressive Corporation's most recent proxy was read; its disclosed peer group does not include CNA FINANCIAL CORP. Filing ↗
42Section 10a, Chubb Limited reciprocityDEF 14A—0001104659-26-039513Chubb Limited names CNA FINANCIAL CORP in its own disclosed peer group (read from its most recent proxy). Filing ↗
43Section 10a, Cincinnati Financial Corporation reciprocityDEF 14A—0000020286-26-000015Cincinnati Financial Corporation names CNA FINANCIAL CORP in its own disclosed peer group (read from its most recent proxy). Filing ↗
44Section 10a, The Travelers Companies, Inc. reciprocityDEF 14A—0000086312-26-000103The Travelers Companies, Inc.'s most recent proxy was read; its disclosed peer group does not include CNA FINANCIAL CORP. Filing ↗
45Section 10a, The Allstate Corporation reciprocityDEF 14A—0000899051-26-000063The Allstate Corporation's most recent proxy was read; its disclosed peer group does not include CNA FINANCIAL CORP. Filing ↗
46Section 10a, American Financial Group, Inc. reciprocityDEF 14A—0001140361-26-013118American Financial Group, Inc. names CNA FINANCIAL CORP in its own disclosed peer group (read from its most recent proxy). Filing ↗
47Section 10a, W.R. Berkley Corporation reciprocityDEF 14A—0001193125-26-170583W.R. Berkley Corporation names CNA FINANCIAL CORP in its own disclosed peer group (read from its most recent proxy). Filing ↗

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