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.
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.
| 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 | ||||||||
| 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 | ||||||||
| George Joseph | 1,320,525 | 54,813 | 1,003,703 | 0 | 1,226,672 | 0 | 20,016 | 2,478,439 |
| Chairman of the Board | ||||||||
| 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.
| Named executive officer | FY2025 total | FY2024 total | FY2023 total | Δ FY2024→2025 |
|---|---|---|---|---|
| Gabriel Tirador | $5,590,472 | $3,678,591 | — | +1,911,881 |
| Wei Pang | 2,510,864 | 1,998,033 | — | +512,831 |
| Victor Joseph | 2,478,439 | 3,595,477 | — | −1,117,038 |
| George Joseph | 2,478,439 | — | — | — |
| Theodore Stalick | 2,385,637 | 2,055,383 | — | +330,254 |
Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.
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.
| Executive | Award | Grant date | Threshold | Target | Granted | Maximum | Grant-date fair value |
|---|---|---|---|---|---|---|---|
| George Joseph | PSU | 2025-02-21 | 19,217 | 28,825 | — | 1,003,703 | $328,867 |
| Gabriel Tirador | PSU | 2025-02-21 | — | 669,777 | — | 2,679,108 | 669,777 |
| Theodore Stalick | PSU | 2025-02-21 | — | 219,700 | — | 878,800 | 219,700 |
| Wei Pang | PSU | 2025-02-21 | — | 217,699 | — | 870,794 | 217,699 |
| Victor Joseph | PSU | 2025-02-21 | — | 253,875 | — | 1,015,500 | 253,875 |
| Named executive officer | Time-vested (RSU) | Performance-vested (PSU) | Options / SARs | % performance-vested |
|---|---|---|---|---|
| George Joseph | $0 | $328,867 | $0 | 100.0% |
| Gabriel Tirador | 0 | 669,777 | 0 | 100.0% |
| Theodore Stalick | 0 | 219,700 | 0 | 100.0% |
| Wei Pang | 0 | 217,699 | 0 | 100.0% |
| Victor Joseph | 0 | 253,875 | 0 | 100.0% |
% 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 |
|---|---|---|---|---|
| Joseph | PSU | 19,217 | — | $1,807,549 |
| Theodore Stalick | PSU | 11,000 | — | 1,034,636 |
| Gabriel Tirador | PSU | 13,046 | — | 1,227,098 |
| Wei Pang | PSU | 8,461 | — | 795,873 |
| Gabriel Tirador | PSU | 19,569 | — | 1,840,647 |
| Theodore Stalick | PSU | 8,559 | — | 805,025 |
| Joseph | PSU | 9,494 | — | 893,039 |
| Joseph | PSU | 3,956 | — | 372,099 |
| Joseph | PSU | 23,527 | — | 2,212,904 |
| Wei Pang | PSU | 1,831 | — | 172,269 |
| Joseph | PSU | 11,716 | — | 1,101,979 |
| Gabriel Tirador | PSU | 23,979 | — | 2,255,443 |
| Wei Pang | PSU | 6,817 | — | 641,235 |
| Theodore Stalick | PSU | 4,279 | — | 402,512 |
| Wei Pang | PSU | 3,409 | — | 320,617 |
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 | None disclosed |
| Clawback policy | true |
| Anti-hedging | — |
| Anti-pledging | True |
| 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.
| 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.
| Ratio (CEO : median employee) | 62 : 1 |
|---|---|
| CEO total compensation | $5,590,472 |
| Median employee compensation | $90,662 |
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| Gabriel TiradorEmployee director · Investment | $0 | $0 | $0 | — | $0 | $0 |
| Victor JosephEmployee director · Investment | 0 | 0 | 0 | — | 0 | 0 |
| George JosephEmployee director · Board Chair | 0 | 0 | 0 | — | 0 | 0 |
| Martha E. MarconIndependent · Lead Independent Director · Audit (Chair) · Nominating/Corporate Governance | — | — | — | 0 | — | — |
| Ramona L. CappelloIndependent · Compensation (Chair) · Investment | — | — | — | 0 | — | — |
| Joshua E. LittleIndependent · Audit · Compensation · Nominating/Corporate Governance (Chair) | — | — | — | 0 | — | — |
| Vicky Wai Yee JosephNot independent · Investment | — | — | — | 0 | — | — |
| James G. EllisIndependent · Nominating/Corporate Governance · Investment | — | — | — | 0 | — | — |
| George G. BrauneggIndependent · Audit · Compensation · Investment (Chair) | — | — | — | 0 | — | — |
| Annual cash retainer | $60,000 |
|---|---|
| Annual equity retainer | — |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | — |
| Stock ownership guideline | — |
| Component | FY2025 |
|---|---|
| Cash retainers and fees | $0 |
| Equity awards (grant-date value) | $0 |
| All other compensation | $0 |
| Total cost of the board | $0 |
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 | Mercury General | 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.
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, Gabriel Tirador | DEF 14A | 2026-03-31 | 0000064996-26-000010 | Section “Summary Compensation Table”. As printed: 5,590,472. Filing ↗machine: span 225414–225423 |
| 2 | Section 01, Wei Pang | DEF 14A | 2026-03-31 | 0000064996-26-000010 | Section “Summary Compensation Table”. As printed: 2,510,864. Filing ↗machine: span 255108–255117 |
| 3 | Section 01, Victor Joseph | DEF 14A | 2026-03-31 | 0000064996-26-000010 | Section “Summary Compensation Table”. As printed: 2,478,439. Filing ↗machine: span 235171–235180 |
| 4 | Section 01, George Joseph | DEF 14A | 2026-03-31 | 0000064996-26-000010 | Section “Summary Compensation Table”. As printed: 2,478,439. Filing ↗machine: span 215437–215446 |
| 5 | Section 01, Theodore Stalick | DEF 14A | 2026-03-31 | 0000064996-26-000010 | Section “Summary Compensation Table”. As printed: 2,385,637. Filing ↗machine: span 245349–245358 |
| 6 | Section 03, George Joseph PSU | DEF 14A | 2026-03-31 | 0000064996-26-000010 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t15 · r3 · c5 · span 334593–334600 |
| 7 | Section 03, Gabriel Tirador PSU | DEF 14A | 2026-03-31 | 0000064996-26-000010 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t15 · r4 · c4 · span 339111–339118 |
| 8 | Section 03, Theodore Stalick PSU | DEF 14A | 2026-03-31 | 0000064996-26-000010 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t15 · r8 · c4 · span 351474–351481 |
| 9 | Section 03, Wei Pang PSU | DEF 14A | 2026-03-31 | 0000064996-26-000010 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t15 · r10 · c4 · span 357245–357252 |
| 10 | Section 03, Victor Joseph PSU | DEF 14A | 2026-03-31 | 0000064996-26-000010 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t15 · r6 · c4 · span 344893–344900 |
| 11 | Section 07, pay ratio | DEF 14A | 2026-03-31 | 0000064996-26-000010 | Section “CEO Pay Ratio”. As printed: 62 : 1. Filing ↗ |
| 12 | Section 08, Gabriel Tirador | DEF 14A | 2026-03-31 | 0000064996-26-000010 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 13 | Section 08, Victor Joseph | DEF 14A | 2026-03-31 | 0000064996-26-000010 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 14 | Section 08, George Joseph | DEF 14A | 2026-03-31 | 0000064996-26-000010 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 15 | Section 08, Martha E. Marcon | DEF 14A | 2026-03-31 | 0000064996-26-000010 | Section “Director Compensation”. As printed: —. Filing ↗ |
| 16 | Section 08, Ramona L. Cappello | DEF 14A | 2026-03-31 | 0000064996-26-000010 | Section “Director Compensation”. As printed: —. Filing ↗ |
| 17 | Section 08, Joshua E. Little | DEF 14A | 2026-03-31 | 0000064996-26-000010 | Section “Director Compensation”. As printed: —. Filing ↗ |
| 18 | Section 08, Vicky Wai Yee Joseph | DEF 14A | 2026-03-31 | 0000064996-26-000010 | Section “Director Compensation”. As printed: —. Filing ↗ |
| 19 | Section 08, James G. Ellis | DEF 14A | 2026-03-31 | 0000064996-26-000010 | Section “Director Compensation”. As printed: —. Filing ↗ |
| 20 | Section 08, George G. Braunegg | DEF 14A | 2026-03-31 | 0000064996-26-000010 | Section “Director Compensation”. As printed: —. Filing ↗ |
| 21 | Section 02, Barnaby Joel Nardella 2026-04-20 | Form 4 | 2026-04-22 | 0001193125-26-170997 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 22 | Section 02, Charles Toney 2026-04-20 | Form 4 | 2026-04-22 | 0001193125-26-170989 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 23 | Section 06, 2026 vote | Form 8-K | 2026-05-14 | 0000064996-26-000017 | Item 5.07 · say-on-pay result. As reported: 98.54% (votes for as printed: 40,328,913). Filing ↗ |
| 24 | Section 06, 2025 vote | Form 8-K | 2025-05-15 | 0000064996-25-000031 | Item 5.07 · say-on-pay result. As reported: 97.62% (votes for as printed: 40,255,122). Filing ↗ |
| 25 | Section 06, 2024 vote | Form 8-K | 2024-05-09 | 0000064996-24-000022 | Item 5.07 · say-on-pay result. As reported: 96.22% (votes for as printed: 47,505,355). Filing ↗ |
| 26 | Section 01 trend, Δ column (computed) | Computed | — | computed | Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1) |
| 27 | Section 03b vehicle mix (computed) | Computed | — | computed | RSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).machine: formula: sums + PSU ratio |
| 28 | Section 09b board cost (computed) | Computed | — | computed | Cash 0 + equity 0 + all other 0 = 0, summed across the director compensation table rows.machine: formula: Σ = 0 |
| 29 | Mercury General (subject), Section 10b CEO total | DEF 14A | 2026-03-31 | 0000064996-26-000010 | CEO total compensation as printed in Mercury General's own proxy. As printed: 5,590,472. Filing ↗machine: span 225414–225423 |