Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-09-22

Heritage Insurance Holdings, Inc. (HRTG)

CEO Ernie Garateix was paid $5,341,897 in fiscal year 2025, ↑ up 23.2% from fiscal year 2024, the 56th percentile of its disclosed peer group (SEC filing 0001193125-26-197339 ↗): 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.

$5,341,897 ↑
Ernie Garateix total, FY2025
56th
CEO pay percentile vs peers
—
CEO-to-median pay ratio
93.94%
Say-on-pay support, latest vote

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Sample answer — “What is the CEO’s total compensation?”
- Ernie Garateix (Chief Executive Officer), FY2025 total compensation $5,341,897 (base salary $875,500) [exec_comp, SEC accession 0001193125-26-197339, filed 2026-04-30]

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HRTG's next annual pay disclosure, estimated May 5, 2027.est. Filing ↗

01

Summary Compensation Table — fiscal year 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Ernie Garateix$875,500$0$2,757,824$0$1,663,450$0$45,123$5,341,897
Chief Executive Officer
Kirk Lusk824,0000947,5980782,800055,5322,609,930
Chief Financial Officer
Tim Moura650,0000409,5040218,855035,3841,313,743
President, Narragansett Bay Insurance Company

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
Ernie Garateix$5,341,897$4,334,512$4,995,816↑ +1,007,385
Kirk Lusk2,609,9302,593,5612,538,359↑ +16,369
Tim Moura1,313,7431,187,8041,674,295↑ +125,939

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

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$5,341,897 Ernie Garateix total, FY2025

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Data as of September 22, 2026 · Source: 0001193125-26-197339 · Velarion Executive Compensation Database, deposited on Zenodo (doi:10.5281/zenodo.22283855).

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Companies that benchmark against HRTG
10 companies name HRTG as a compensation peer

Each company listed discloses HRTG 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 HRTG 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
Irini BarlasIndependent Director$197,750
Joseph VattamattamIndependent Director$195,000
Mark BersetFormer director (through FY2025)$155,000
Nicholas PappasFormer director (through FY2025)$133,750
Paul L. WhitingIndependent Director$196,750
Pete ApostolouIndependent Director$192,500
Richard WiddicombeChair of the Board$311,873
Vijay WalvekarFormer director (through FY2025)$132,500
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
Sharon BinnunChief Accounting Officer2026-05-01D9,200$29$266,753CommonForm 4 ↗
Paul L. WhitingDirector2026-05-19A1,0002424,450CommonForm 4 ↗
Paul L. WhitingDirector2026-05-19A15,00024352,500CommonForm 4 ↗
Pete ApostolouDirector2026-06-10A2,70300CommonForm 4 ↗
Irini BarlasDirector2026-06-10A2,70300CommonForm 4 ↗
Paul L. WhitingDirector2026-06-10A2,70300CommonForm 4 ↗
Richard WiddicombeDirector2026-06-10A2,70300CommonForm 4 ↗
Joseph VattamattamDirector2026-06-10A2,70300CommonForm 4 ↗
Paul L. WhitingDirector2026-06-11D9,66200CommonForm 4 ↗
Sharon BinnunChief Accounting Officer2026-06-22D9,20024224,103CommonForm 4 ↗
Sharon BinnunChief Accounting Officer2026-07-01D9,20027244,493CommonForm 4 ↗
Sharon BinnunChief Accounting Officer2026-08-03D9,20030276,285CommonForm 4 ↗
Tim MouraSee Remarks2026-08-10D15,10432490,681CommonForm 4 ↗
Kirk LuskChief Financial Officer2026-08-17D10,00034341,587CommonForm 4 ↗
Ernie GarateixDirector2026-08-17D5,00034171,550CommonForm 4 ↗
Ernie GarateixDirector2026-08-18D5,00035172,725CommonForm 4 ↗
Timothy E. JohnsSee Remarks2026-08-19D3,50034117,864CommonForm 4 ↗
Ernie GarateixDirector2026-08-24D10,00035348,750CommonForm 4 ↗
Sharon BinnunChief Accounting Officer2026-09-01D9,20034311,994CommonForm 4 ↗
Ernie GarateixDirector2026-09-03D2,5003587,750CommonForm 4 ↗
Sharon BinnunChief Accounting Officer2026-09-09D6,56534221,995CommonForm 4 ↗
Ernie GarateixDirector2026-09-14D2,5003588,135CommonForm 4 ↗
Timothy E. JohnsSee Remarks2026-09-18D3,50035121,579CommonForm 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
Tim MouraOTHER—————$409,504
Ernie GarateixOTHER—————2,757,824
Kirk LuskOTHER—————947,598
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
Ernie GarateixRSU404,412—$11,833,095
Ernie GarateixRSU36,848—1,078,172
Tim MouraPSU44,446—1,300,490
Tim MouraRSU4,630—135,474
Kirk LuskRSU196,078—5,737,242
Tim MouraRSU98,039—2,868,621
Ernie GarateixRSU30,271—885,729
Tim MouraRSU5,472—160,111
Ernie GarateixPSU290,598—8,502,897
Kirk LuskPSU85,470—2,500,852
Kirk LuskRSU18,496—541,194
Kirk LuskPSU52,020—1,522,105
Tim MouraPSU26,263—768,455
Kirk LuskRSU15,195—444,606
Ernie GarateixPSU176,869—5,175,187
05

Incentive-plan design — the Compensation Discussion & Analysis

We provide base salaries, which are intended to be generally competitive with salaries of similarly situated executives at comparable companies and are based on the executive officer's role and responsibilities, individual job performance and experience.

CEO STI target (% of salary)120%
CEO LTI target (% of salary)—
Independent consultant—
Clawback policytrue
Anti-hedgingfalse
Anti-pledgingTrue
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-06-1016,268,4171,049,362271,06893.94%Passed
20252025-06-1015,111,2794,260,104776,47775%Passed
20242024-06-0511,287,0513,531,897520,20273.58%Passed
20232023-06-079,824,1721,967,360777,74678.16%Passed
20222022-06-2312,840,0294,497,72460,98573.8%Passed
20212021-05-2515,995,7203,444,819729,70679.3%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
20262026-06-1093.94%a
20252025-06-1075%b
20242024-06-0573.58%c

a. Voting standard not stated in the filing.

b. Approved under the standard stated in the filing — “Abstentions will have the effect of a vote against the approval of the Say on Pay proposal.”.

c. Approved under the standard stated in the filing — “Abstentions will have the effect of a vote against the approval of the Say on Pay 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)—
CEO total compensation—
Median employee compensation—
08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Richard WiddicombeIndependent · Board Chair$171,875$60,000$0$0$79,998$311,873
Irini BarlasIndependent · Audit (Chair) · Corporate Governance and Nominating137,75060,00000—197,750
Paul L. WhitingIndependent · Audit · Compensation (Chair) · Corporate Governance and Nominating136,75060,00000—196,750
Joseph VattamattamIndependent · Audit · Compensation135,00060,00000—195,000
Pete ApostolouIndependent · Compensation · Corporate Governance and Nominating (Chair)132,50060,00000—192,500
Mark BersetNot independent · Not standing for re-election · Departed during FY95,00060,00000—155,000
Nicholas PappasIndependent · Not standing for re-election · Departed during FY133,750—00—133,750
Vijay WalvekarIndependent · Not standing for re-election · Departed during FY132,500—00—132,500
Ernie GarateixEmployee director000—00
09

Board fee structure and ownership guideline

Annual cash retainer$125,000
Annual equity retainer$40,000
Per board meeting fee—
Committee chair fees (audit / comp / nom-gov)5,000 / 5,000 / 5,000
Stock ownership guideline—
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$1,075,125
Equity awards (grant-date value)$360,000
All other compensation$79,998
Total cost of the board$1,515,123

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

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
1Heritage Insurance Holdings, Inc.2025Ernie Garateix$875,500$2,757,824$0$1,663,450$5,341,897

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.

10d

Frequently asked questions

Who was the highest-paid executive at Heritage Insurance Holdings, Inc. in fiscal 2025?
As disclosed, Ernie Garateix (Chief Executive Officer) was the highest-paid executive at Heritage Insurance Holdings, Inc. in fiscal 2025, with total compensation of $5,341,897.
How does Heritage Insurance Holdings, Inc.'s chief executive pay compare to its disclosed peer group?
As disclosed, Ernie Garateix's total compensation ranked at the 56th percentile of Heritage Insurance Holdings, Inc.'s disclosed peer group.
How did shareholders vote on Heritage Insurance Holdings, Inc.'s executive compensation?
As disclosed, 93.94% of shareholders supported Heritage Insurance Holdings, Inc.'s executive compensation in the latest say-on-pay vote.
How much does Heritage Insurance Holdings, Inc. spend in total on board compensation for fiscal 2025?
As disclosed, Heritage Insurance Holdings, Inc. reported total board compensation of $1,515,123 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, Ernie GarateixDEF 14A2026-04-300001193125-26-197339Section “Summary Compensation Table” · page 21. As printed: 5,341,897. Filing ↗machine: r2 · c27 · span 259277–259286
2Section 01, Kirk LuskDEF 14A2026-04-300001193125-26-197339Section “Summary Compensation Table” · page 21. As printed: 2,609,930. Filing ↗machine: r4 · c27 · span 263109–263118
3Section 01, Tim MouraDEF 14A2026-04-300001193125-26-197339Section “Summary Compensation Table” · page 21. As printed: 1,313,743. Filing ↗machine: r6 · c27 · span 266937–266946
4Section 03, Tim Moura OTHERDEF 14A2026-04-300001193125-26-197339Section “EXECUTIVE COMPENSATION” · grants of plan-based awards table. Filing ↗machine: t85 · r6 · c15 · span 266257–266264
5Section 03, Ernie Garateix OTHERDEF 14A2026-04-300001193125-26-197339Section “EXECUTIVE COMPENSATION” · grants of plan-based awards table. Filing ↗machine: t85 · r2 · c15 · span 258593–258602
6Section 03, Kirk Lusk OTHERDEF 14A2026-04-300001193125-26-197339Section “EXECUTIVE COMPENSATION” · grants of plan-based awards table. Filing ↗machine: t85 · r4 · c15 · span 262429–262436
7Section 07, pay ratio10-K/A2026-03-190001193125-26-115451Section “CEO Pay Ratio”. As printed: —. Filing ↗
8Section 08, Richard WiddicombeDEF 14A2026-04-300001193125-26-197339Section “Director Compensation”. As printed: 311,873. Filing ↗machine: t111 · r9 · c15 · span 446641–446648
9Section 08, Irini BarlasDEF 14A2026-04-300001193125-26-197339Section “Director Compensation”. As printed: 197,750. Filing ↗machine: t111 · r3 · c15 · span 439252–439259
10Section 08, Paul L. WhitingDEF 14A2026-04-300001193125-26-197339Section “Director Compensation”. As printed: 196,750. Filing ↗machine: t111 · r8 · c15 · span 445477–445484
11Section 08, Joseph VattamattamDEF 14A2026-04-300001193125-26-197339Section “Director Compensation”. As printed: 195,000. Filing ↗machine: t111 · r6 · c15 · span 442984–442991
12Section 08, Pete ApostolouDEF 14A2026-04-300001193125-26-197339Section “Director Compensation”. As printed: 192,500. Filing ↗machine: t111 · r2 · c15 · span 438046–438053
13Section 08, Mark BersetDEF 14A2026-04-300001193125-26-197339Section “Director Compensation”. As printed: 155,000. Filing ↗machine: t111 · r4 · c15 · span 440484–440491
14Section 08, Nicholas PappasDEF 14A2026-04-300001193125-26-197339Section “Director Compensation”. As printed: 133,750. Filing ↗machine: t111 · r5 · c3 · span 440987–440994
15Section 08, Vijay WalvekarDEF 14A2026-04-300001193125-26-197339Section “Director Compensation”. As printed: 132,500. Filing ↗machine: t111 · r7 · c3 · span 443486–443493
16Section 08, Ernie GarateixDEF 14A2026-04-300001193125-26-197339Section “Director Compensation”. As printed: 0. Filing ↗
17Section 02, Sharon Binnun 2026-05-01Form 42026-05-050001639407-26-000010Insider equity transaction reported since the proxy statement. Filing ↗
18Section 02, Paul L. Whiting 2026-05-19Form 42026-05-200001272769-26-000002Insider equity transaction reported since the proxy statement. Filing ↗
19Section 02, Paul L. Whiting 2026-05-19Form 42026-05-200001272769-26-000002Insider equity transaction reported since the proxy statement. Filing ↗
20Section 02, Pete Apostolou 2026-06-10Form 42026-06-120001607789-26-000002Insider equity transaction reported since the proxy statement. Filing ↗
21Section 02, Irini Barlas 2026-06-10Form 42026-06-120001616723-26-000002Insider equity transaction reported since the proxy statement. Filing ↗
22Section 02, Paul L. Whiting 2026-06-10Form 42026-06-120001272769-26-000004Insider equity transaction reported since the proxy statement. Filing ↗
23Section 02, Richard Widdicombe 2026-06-10Form 42026-06-120001186207-26-000002Insider equity transaction reported since the proxy statement. Filing ↗
24Section 02, Joseph Vattamattam 2026-06-10Form 42026-06-120001607784-26-000002Insider equity transaction reported since the proxy statement. Filing ↗
25Section 02, Paul L. Whiting 2026-06-11Form 42026-06-120001272769-26-000004Insider equity transaction reported since the proxy statement. Filing ↗
26Section 02, Sharon Binnun 2026-06-22Form 42026-06-240001639407-26-000012Insider equity transaction reported since the proxy statement. Filing ↗
27Section 02, Sharon Binnun 2026-07-01Form 42026-07-020001639407-26-000014Insider equity transaction reported since the proxy statement. Filing ↗
28Section 02, Sharon Binnun 2026-08-03Form 42026-08-050001639407-26-000016Insider equity transaction reported since the proxy statement. Filing ↗
29Section 02, Tim Moura 2026-08-10Form 42026-08-120001808766-26-000010Insider equity transaction reported since the proxy statement. Filing ↗
30Section 02, Kirk Lusk 2026-08-17Form 42026-08-190001730226-26-000006Insider equity transaction reported since the proxy statement. Filing ↗
31Section 02, Ernie Garateix 2026-08-17Form 42026-08-190001607776-26-000014Insider equity transaction reported since the proxy statement. Filing ↗
32Section 02, Ernie Garateix 2026-08-18Form 42026-08-190001607776-26-000014Insider equity transaction reported since the proxy statement. Filing ↗
33Section 02, Timothy E. Johns 2026-08-19Form 42026-08-210001469998-26-000010Insider equity transaction reported since the proxy statement. Filing ↗
34Section 02, Ernie Garateix 2026-08-24Form 42026-08-260001607776-26-000016Insider equity transaction reported since the proxy statement. Filing ↗
35Section 02, Sharon Binnun 2026-09-01Form 42026-09-030001639407-26-000018Insider equity transaction reported since the proxy statement. Filing ↗
36Section 02, Ernie Garateix 2026-09-03Form 42026-09-080001607776-26-000018Insider equity transaction reported since the proxy statement. Filing ↗
37Section 02, Sharon Binnun 2026-09-09Form 42026-09-110001639407-26-000020Insider equity transaction reported since the proxy statement. Filing ↗
38Section 02, Ernie Garateix 2026-09-14Form 42026-09-160001607776-26-000020Insider equity transaction reported since the proxy statement. Filing ↗
39Section 02, Timothy E. Johns 2026-09-18Form 42026-09-220001469998-26-000012Insider equity transaction reported since the proxy statement. Filing ↗
40Section 06, 2026 voteForm 8-K2026-06-110001193125-26-267535Item 5.07 · say-on-pay result. As reported: 93.94% (votes for as printed: 16,268,417). Filing ↗
41Section 06, 2025 voteForm 8-K2025-06-110001193125-25-139195Item 5.07 · say-on-pay result. As reported: 75% (votes for as printed: 15,111,279). Filing ↗
42Section 06, 2024 voteForm 8-K2024-06-070001628280-24-027257Item 5.07 · say-on-pay result. As reported: 73.58% (votes for as printed: 11,287,051). Filing ↗
43Section 01 trend, Δ column (computed)Computed——Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
44Section 09b board cost (computed)Computed——Cash 1,075,125 + equity 360,000 + all other 79,998 = 1,515,123, summed across the director compensation table rows.machine: formula: Σ = 1,515,123
45Heritage Insurance Holdings, Inc. (subject), Section 10b CEO totalDEF 14A2026-04-300001193125-26-197339CEO total compensation as printed in Heritage Insurance Holdings, Inc.'s own proxy. As printed: 5,341,897. Filing ↗machine: r2 · c27 · span 259277–259286

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