Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-05-14

Mercury General (MCY)

CEO Gabriel Tirador was paid $5,590,472 in fiscal year 2025, ↑ up 52.0% from fiscal year 2024, the 1st percentile of its disclosed peer group (SEC filing 0000064996-26-000010 ↗): 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.

$5,590,472 ↑
Gabriel Tirador total, FY2025
1st
CEO pay percentile vs peers
62:1
CEO-to-median pay ratio
98.54%
Say-on-pay support, latest vote

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Sample answer — “What is the CEO’s total compensation?”
- Gabriel Tirador (Chief Executive Officer), FY2025 total compensation $5,590,472 (base salary $1,344,706) [exec_comp, SEC accession 0000064996-26-000010, filed 2026-03-31]

Answered within 24 hours, every figure cited to its SEC filing. If our database cannot answer your question, you are refunded automatically.

MCY's next annual pay disclosure, estimated March 30, 2027.est. Filing ↗

01

Summary Compensation Table — fiscal year 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Gabriel Tirador$1,344,706$0$1,703,470$0$2,498,269$0$44,027$5,590,472
Chief Executive Officer
George Joseph1,320,52554,8131,003,70301,226,672020,0163,625,729
Chairman of the Board
Wei Pang700,134299,364685,8210812,015013,5302,510,864
Vice President and Chief Technology Officer
Victor Joseph815,5240702,5110946,954013,4502,478,439
President and Chief Operating Officer
Theodore Stalick882,1800670,5260819,481013,4502,385,637
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.

Three-year trend — total compensation per named executive

Named executive officerFY2025 totalFY2024 totalFY2023 totalΔ FY2024→2025
Gabriel Tirador$5,590,472$3,678,591$1,698,348↑ +1,911,881
George Joseph3,625,729—1,629,078—
Wei Pang2,510,8641,998,033—↑ +512,831
Victor Joseph2,478,4392,120,779—↑ +357,660
Theodore Stalick2,385,6372,055,3831,058,840↑ +330,254

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

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Companies that benchmark against MCY
7 companies name MCY as a compensation peer

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.

01b

Executives — the named officers

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.

ExecutiveRoleFY2025 total
Gabriel TiradorCEO$5,590,472
George JosephChairman of the Board$3,625,729
Theodore StalickCFO$2,385,637
Victor JosephPresident$2,478,439
Wei PangCTO$2,510,864
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
Dividend-equivalent accruals2026-04-20—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.

View all 2 transactions
InsiderRoleTransaction dateCodeSharesPriceValueSecuritySource
Charles ToneyVP - Actuary2026-04-20A79.65$0$0Derivative, Class A CommonForm 4 ↗
Barnaby Joel NardellaChief Claims Officer2026-04-20A1,580.6100Derivative, Class A CommonForm 4 ↗
03

Grants of plan-based awards — fiscal year 2025

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Wei PangRSU2025-02-21——3,409—$178,034
Wei PangRSU2025-10-09——1,831—151,720
Wei PangPSU2025-02-213,4096,817—10,226356,067
Victor JosephPSU2025-02-214,7479,494—14,242495,890
Theodore StalickPSU2025-02-214,2798,559—12,838447,017
Gabriel TiradorRSU2025-02-21——13,046—681,388
Gabriel TiradorPSU2025-02-219,78419,569—29,3531,022,082
George JosephPSU2025-02-219,60819,217—28,8251,003,703
Victor JosephRSU2025-02-21——3,956—206,621
Theodore StalickRSU2025-02-21——4,279—223,509
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Wei Pang$329,754$356,067$051.9%
Victor Joseph206,621495,890070.6%
Theodore Stalick223,509447,017066.7%
Gabriel Tirador681,3881,022,082060.0%
George Joseph01,003,7030100.0%

% 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
JosephPSU9,494—$893,039
Theodore StalickPSU8,559—805,025
Wei PangRSU1,831—172,269
Gabriel TiradorPSU23,979—2,255,443
JosephPSU23,527—2,212,904
Gabriel TiradorPSU19,569—1,840,647
JosephPSU19,217—1,807,549
Gabriel TiradorRSU13,046—1,227,098
JosephPSU11,716—1,101,979
Theodore StalickPSU11,000—1,034,636
Wei PangPSU8,461—795,873
Wei PangPSU6,817—641,235
Theodore StalickRSU4,279—402,512
JosephRSU3,956—372,099
Wei PangRSU3,409—320,617
05

Incentive-plan design — the Compensation Discussion & Analysis

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—
Clawback policytrue
Anti-hedgingtrue
Anti-pledgingtrue
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-05-1340,328,913568,70128,08698.54%Passed
20252025-05-1440,255,122958,25123,90197.62%Passed
20242024-05-0847,505,3551,808,66659,14596.22%Passed
20232023-05-1045,047,4142,895,38965,56593.83%Passed
20222022-05-1145,015,5552,712,83976,92294.16%Passed
20212021-05-1244,777,6043,368,97151,81592.9%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.

Say-on-pay — history, company's computation

Meeting yearMeeting dateApproval — company's computation
20262026-05-1398.54%a
20252025-05-1497.62%b
20242024-05-0896.22%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.

07

CEO pay ratio

Ratio (CEO : median employee)62 : 1
CEO total compensation$5,590,472
Median employee compensation$90,662
08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Victor JosephEmployee director · Investment$0$0$0—$0$0
Gabriel TiradorEmployee director · Investment000—00
George JosephEmployee director · Board Chair000—00
James G. EllisIndependent · Nominating/Corporate Governance · Investment81,100——0——
George G. BrauneggIndependent · Audit · Compensation · Investment (Chair)110,100——0——
Ramona L. CappelloIndependent · Compensation (Chair) · Investment90,500——0——
Joshua E. LittleIndependent · Audit · Compensation · Nominating/Corporate Governance (Chair)100,700——0——
Martha E. MarconIndependent · Lead Independent Director · Audit (Chair) · Nominating/Corporate Governance111,700——0——
Vicky Wai Yee JosephNot independent · Investment67,700——0——
09

Board fee structure and ownership guideline

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

Total cost of the board

ComponentFY2025
Cash retainers and fees$561,800
Equity awards (grant-date value)$0
All other compensation$0
Total cost of the board$561,800

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
1Mercury General2025Gabriel 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.

10d

Frequently asked questions

Who was the highest-paid executive at Mercury General in fiscal 2025?
As disclosed, Gabriel Tirador (Chief Executive Officer) was the highest-paid executive at Mercury General in fiscal 2025, with total compensation of $5,590,472.
How does Mercury General's chief executive pay compare to its disclosed peer group?
As disclosed, Gabriel Tirador's total compensation ranked at the 1st percentile of Mercury General's disclosed peer group.
What is Mercury General's CEO-to-median employee pay ratio?
As disclosed, Mercury General's CEO-to-median employee pay ratio was 62:1.
How did shareholders vote on Mercury General's executive compensation?
As disclosed, 98.54% of shareholders supported Mercury General's executive compensation in the latest say-on-pay vote.
How much does Mercury General spend in total on board compensation for fiscal 2025?
As disclosed, Mercury General reported total board compensation of $561,800 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, Gabriel TiradorDEF 14A2026-03-310000064996-26-000010Section “Executive Compensation”. As printed: 5,590,472. Filing ↗machine: span 225414–225423
2Section 01, George JosephDEF 14A2026-03-310000064996-26-000010Section “Executive Compensation”. As printed: 3,625,729. Filing ↗machine: span 215437–215446
3Section 01, Wei PangDEF 14A2026-03-310000064996-26-000010Section “Executive Compensation”. As printed: 2,510,864. Filing ↗machine: span 255108–255117
4Section 01, Victor JosephDEF 14A2026-03-310000064996-26-000010Section “Summary Compensation Table”. As printed: 2,478,439. Filing ↗machine: span 235171–235180
5Section 01, Theodore StalickDEF 14A2026-03-310000064996-26-000010Section “Executive Compensation”. As printed: 2,385,637. Filing ↗machine: span 245349–245358
6Section 03, Wei Pang RSUDEF 14A2026-03-310000064996-26-000010Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 362727–362734
7Section 03, Wei Pang RSUDEF 14A2026-03-310000064996-26-000010Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 365789–365796
8Section 03, Wei Pang PSUDEF 14A2026-03-310000064996-26-000010Section “Executive Compensation” · grants of plan-based awards table. Filing ↗
9Section 03, Victor Joseph PSUDEF 14A2026-03-310000064996-26-000010Section “Executive Compensation” · grants of plan-based awards table. Filing ↗
10Section 03, Theodore Stalick PSUDEF 14A2026-03-310000064996-26-000010Section “Executive Compensation” · grants of plan-based awards table. Filing ↗
11Section 03, Gabriel Tirador RSUDEF 14A2026-03-310000064996-26-000010Section “Executive Compensation” · grants of plan-based awards table. Filing ↗
12Section 03, Gabriel Tirador PSUDEF 14A2026-03-310000064996-26-000010Section “Executive Compensation” · grants of plan-based awards table. Filing ↗
13Section 03, George Joseph PSUDEF 14A2026-03-310000064996-26-000010Section “Executive Compensation” · grants of plan-based awards table. Filing ↗
14Section 03, Victor Joseph RSUDEF 14A2026-03-310000064996-26-000010Section “Executive Compensation” · grants of plan-based awards table. Filing ↗
15Section 03, Theodore Stalick RSUDEF 14A2026-03-310000064996-26-000010Section “Executive Compensation” · grants of plan-based awards table. Filing ↗
16Section 07, pay ratioDEF 14A2026-03-310000064996-26-000010Section “CEO Pay Ratio”. As printed: 62 : 1. Filing ↗
17Section 08, Victor JosephDEF 14A2026-03-310000064996-26-000010Section “Director Compensation”. As printed: 0. Filing ↗
18Section 08, Gabriel TiradorDEF 14A2026-03-310000064996-26-000010Section “Director Compensation”. As printed: 0. Filing ↗
19Section 08, George JosephDEF 14A2026-03-310000064996-26-000010Section “Director Compensation”. As printed: 0. Filing ↗
20Section 08, James G. EllisDEF 14A2026-03-310000064996-26-000010Section “Director Compensation”. As printed: —. Filing ↗machine: span 426264–426505
21Section 08, George G. BrauneggDEF 14A2026-03-310000064996-26-000010Section “Director Compensation”. As printed: —. Filing ↗machine: span 425021–425153
22Section 08, Ramona L. CappelloDEF 14A2026-03-310000064996-26-000010Section “Director Compensation”. As printed: —. Filing ↗machine: span 425605–425846
23Section 08, Joshua E. LittleDEF 14A2026-03-310000064996-26-000010Section “Director Compensation”. As printed: —. Filing ↗machine: span 427587–427829
24Section 08, Martha E. MarconDEF 14A2026-03-310000064996-26-000010Section “Director Compensation”. As printed: —. Filing ↗machine: span 428249–428491
25Section 08, Vicky Wai Yee JosephDEF 14A2026-03-310000064996-26-000010Section “Director Compensation”. As printed: —. Filing ↗machine: span 426926–427167
26Section 02, Charles Toney 2026-04-20Form 42026-04-220001193125-26-170989Insider equity transaction reported since the proxy statement. Filing ↗
27Section 02, Barnaby Joel Nardella 2026-04-20Form 42026-04-220001193125-26-170997Insider equity transaction reported since the proxy statement. Filing ↗
28Section 06, 2026 voteForm 8-K2026-05-140000064996-26-000017Item 5.07 · say-on-pay result. As reported: 98.54% (votes for as printed: 40,328,913). Filing ↗
29Section 06, 2025 voteForm 8-K2025-05-150000064996-25-000031Item 5.07 · say-on-pay result. As reported: 97.62% (votes for as printed: 40,255,122). Filing ↗
30Section 06, 2024 voteForm 8-K2024-05-090000064996-24-000022Item 5.07 · say-on-pay result. As reported: 96.22% (votes for as printed: 47,505,355). Filing ↗
31Section 01 trend, Δ column (computed)Computed——Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
32Section 03b vehicle mix (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
33Section 09b board cost (computed)Computed——Cash 561,800 + equity 0 + all other 0 = 561,800, summed across the director compensation table rows.machine: formula: Σ = 561,800
34Mercury General (subject), Section 10b CEO totalDEF 14A2026-03-310000064996-26-000010CEO total compensation as printed in Mercury General's own proxy. As printed: 5,590,472. Filing ↗machine: span 225414–225423

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