Eric T. Steigerwalt

President and Chief Executive Officer at Brighthouse Financial Inc

Board

Since August 2017

Age

63 years

Education

Earned a Bachelor of Arts (BA) degree from Drew University.

Tenure

Joined Brighthouse Financial in August 2016 and assumed the role of President and CEO in August 2017.

Also at Brighthouse Financial Inc

Allie Lin

Executive Vice President and General Counsel

EAS

Edward A. Spehar

Executive Vice President and Chief Financial Officer (CFO)

JLR

John L. Rosenthal

Executive Vice President and Chief Investment Officer

About

Eric T. Steigerwalt is a seasoned executive currently serving as President and CEO of Brighthouse Financial, Inc., noted for his extensive experience in the insurance and financial services industry.

He began his journey at Brighthouse Financial in August 2016 during its transition from MetLife, later taking on the role of President and CEO in August 2017, marking a significant milestone in his career.

Prior to his leadership at Brighthouse Financial, he held several executive roles at MetLife and contributed at AXA S.A., showcasing a deep expertise in corporate strategy, finance, and investments.

$BHF Performance Under Eric T. Steigerwalt

Past Roles

Organization	Role	Date Range	Details
MetLife, Inc.	Executive Vice President, U.S. Retail	2012 – 2017	N/A
MetLife, Inc.	Executive Vice President and Interim Chief Financial Officer	2011 – 2012	N/A
MetLife, Inc.	Executive Vice President, Chief Financial Officer of U.S. Business	2010 – 2011	N/A
MetLife, Inc.	Senior Vice President and Chief Financial Officer of U.S. Business	2009 – 2010	N/A
MetLife, Inc.	Senior Vice President and Treasurer	2007 – 2009	N/A
MetLife, Inc.	Senior Vice President and Chief Financial Officer of Individual Business	2003 – 2007	N/A
MetLife, Inc.	Vice President, Financial Management	1998 – 2003	N/A
AXA S.A.	Not Specified	1993 – 1998	Role details not provided

External Roles

Organization	Role	Date Range	Details
American Council of Life Insurers	Member of the Board of Directors	2018 – present	Member of the Consumer and Tax Steering Committees
Wells Fargo Champions for Education	Member of the Board of Directors	2017 – present	N/A
FTI Consulting, Inc.	Director	March 2025 – present	N/A

Fixed Compensation

Data from FY 2024

Component Name	Amount	Payment Schedule	Additional Details
Base Salary	$1,040,385	Annual	Fixed cash compensation for services rendered in 2024
Stock Awards Vested	$6,562,428	Vesting as specified upon meeting conditions	Aggregate grant date fair value of RSUs and PSUs granted in 2024 in accordance with ASC Topic 718
All Other Compensation	$305,120	Annual	Breakdown: Brighthouse Savings Plan Contribution ($30,798 ), Auxiliary Plan Contribution ($273,842 ), and Annual Stipend for Home Office Expenses ($480 )
Involuntary Not-for-Cause Termination Base Salary	$1,050,000	Lump sum upon termination	Equal to one year of base salary
Involuntary Not-for-Cause or Good Reason Termination Base Salary	$2,100,000	Lump sum upon termination	Equal to two years of base salary
Involuntary Not-for-Cause Termination Annual STI	$4,410,000	Lump sum upon termination	Prorated target STI award for the termination year
Involuntary Not-for-Cause or Good Reason Termination Annual STI	$6,615,000	Lump sum upon termination	Prorated target STI award plus additional compensation
Termination RSUs	$3,636,580	Vest upon termination	Value of RSUs that would vest upon termination
Termination PSUs	$12,436,883	Vest upon termination	Value of PSUs that would vest upon termination
Supplemental Death Benefit	$350,000	Lump sum upon death	Supplemental benefit provided in the event of death
Involuntary Not-for-Cause Termination Miscellaneous Payments	$35,107	Lump sum upon termination	Miscellaneous termination payments
Involuntary Not-for-Cause or Good Reason Termination Miscellaneous Payments	$58,714	Lump sum upon termination	Miscellaneous termination payments for good reason

Performance Compensation

Data from FY 2024

Short-Term Incentive (STI)

Metric	Threshold	Target	Maximum	Actual Results	Payout Percentage
Corporate Expenses (40%)	$910M	$870M	$840M	$820M	150%
Sales – Annuity (80% of Sales 40%)	$6.4B	$9.4B	$11.4B	$10.0B	116%
Sales – Life (20% of Sales 40%)	$70M	$113M	$140M	$120M	111%
Normalized Statutory Earnings (20%)	–$1.0B	$300M	$600M	–$1.3B	0%

Overall STI Award Details:
- Target STI Award: $2,205,000
- Actual STI Payout: $2,160,900 (≈98%)
- Evaluation Period: 2024, with performance assessed based on pre-established corporate goals
- Payment: Cash-based incentive paid out after the performance year

Long-Term Incentive (LTI)

Performance Period: 2024–2026
Award Breakdown:
- Total LTI Award Value: $6,562,500
- PSUs:
  - Dollar Value: $4,593,704
  - Share Quantity: 99,517 PSUs
  - Weight: 70% of the LTI Award
  - Vesting: Cliff vesting after 3 years at the end of the performance period
  - Maximum Payout: Up to $7,349,918 if maximum performance is achieved
- RSUs:
  - Dollar Value: $1,968,724
  - Share Quantity: 42,650 RSUs
  - Vesting: Ratably over 3 years (1/3 vests on each anniversary)
Performance Metrics:
- PSU Metrics:
  - Include Statutory Expense Ratio and Net Cash Flow to the Holding Company
  - Relative TSR modifier applied to adjust achievements relative to a comparator group
  - Threshold: 40% of target, Target: 100%, Maximum: 160% (150% base plus an extra 10% for the rTSR modifier)
Grant Details:
- Grant Date: March 1, 2024
- Approval Date: February 6, 2024
- Grant Date Fair Value: PSUs: $4,593,704 and RSUs: $1,968,724
- No specific grant date stock price provided; share quantities determined by dividing the award dollar value by the closing stock price on the grant date

The above details represent the performance-based compensation components for 2024, covering both STI and LTI elements with precise metrics, thresholds, targets, vesting schedules, and payout outcomes.