Anthony Vidovich
About Anthony Vidovich
Anthony Vidovich was appointed Executive Vice President and General Counsel of Everest Group, Ltd. (NYSE: EG), effective on or before January 5, 2026, reporting to CEO Jim Williamson and joining the Executive Leadership Team . He is a seasoned legal and business leader with nearly 30 years across P&C insurance and reinsurance, most recently Global Head of Insurance Legal at AIG, with prior executive roles at XL Group/XL Catlin and The Hartford; he holds a JD from Rutgers University and serves on the U.S. Chamber’s Institute for Legal Reform and the RAND Institute for Civil Justice . For pay-for-performance context, Everest delivered FY2024 net income of $1.4B, gross written premium of $18.2B (+9.1% YoY), TSR 9.2%, and net operating income ROE 9.0% ; in FY2023, net income was $2.5B, TSR 26.5%, and after-tax operating ROE 23.1% with GWP $16.6B .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| AIG | Global Head of Insurance Legal | — | Advised on legal matters for insurance, reinsurance, and risk-capital businesses |
| XL Group/XL Catlin | Executive legal leadership roles | — | Guided multinational legal teams through integrations and enterprise transformations |
| The Hartford | Executive legal leadership roles | — | Led legal teams through strategic change initiatives |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| U.S. Chamber of Commerce Institute for Legal Reform | Advisory/Industry service | — | Contributes expertise to legal reform initiatives impacting insurers |
| RAND Corporation Institute for Civil Justice | Advisory/Industry service | — | Supports research on civil justice impacting insurance risk and litigation environments |
Fixed Compensation
| Item | Detail |
|---|---|
| Employment start date | Effective on or before January 5, 2026 |
| Title | Executive Vice President and General Counsel |
| Reporting line | Reports to President & CEO Jim Williamson |
| Base salary | Not disclosed in 8-K/press release |
| Target bonus % | Not disclosed; EG EVP precedent in 2025 program set target incentive bonus framework with caps (see Performance Compensation) |
| Cash bonus cap | Executive Performance Annual Incentive Plan maximum per participant $3.5M |
| Clawback | Broad clawback covering current/former employees and restatements without regard to misconduct |
| Hedging/Pledging | Prohibited for Company stock |
| Stock ownership guideline | CEO: 6x base salary; other NEOs: 3x base salary (General Counsel historically a NEO at EG) |
Performance Compensation
Everest’s LTI mix for NEOs from 2025 is 50% PSUs and 50% time-vested restricted stock, with RSUs vesting 33-1/3% annually over 3 years and PSU payout range 0–175% of target based on ROE and TSR metrics .
| Metric | Weighting | 2024 Target | 0% Payout | 25% Payout | 100% Payout | 175% Payout |
|---|---|---|---|---|---|---|
| Net Operating Income ROE | 50% | 17.0% | <8.0% | 8.0% | 17.0% | ≥25.0% |
| Annual TSR | 25% | 17.0% | <8.0% | 8.0% | 17.0% | ≥25.0% |
| 3-year Relative TSR vs Peers | 25% | Median | <25th percentile | 25th percentile | Median | ≥75th percentile |
Annual incentive (cash bonus) design for NEOs:
- Two components: Company financial performance (60%) using Adjusted Net Operating Income ROE tiers; and individual goals (40%) .
- Maximum per participant: $3.5M; 2025 updates set Williamson’s cap at 140% of target bonus and Kociancic/Anzaldua at 200% of target bonus, each subject to the $3.5M cap .
RSU vesting schedule:
- RSUs granted in 2024 and thereafter vest in equal annual installments over 3 years; pre-2024 grants vest 20% annually over 5 years .
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Beneficial ownership | Not yet disclosed for Vidovich; 2025 beneficial ownership table does not list him (pre-start) |
| Ownership guidelines | 3x base salary for other NEOs; promotes alignment |
| Pledging/Hedging policy | Prohibited, reducing alignment red flags |
| Clawback | Broad policy applies to incentive compensation, including restatements |
Employment Terms
- Appointment: EVP & General Counsel, effective on or before January 5, 2026 .
- Contract terms: Not disclosed in 8-K; Everest typically discloses compensatory arrangements via Item 5.02 upon execution—none filed yet for Vidovich .
- Change-in-Control (CIC) Plan (applicable to CEO and other NEOs; prior General Counsel participated):
- Double-trigger required; upon qualifying termination within two years of a material change: immediate vesting of stock options; RSU restrictions lapse; PSUs governed separately by PSU agreement; cash payment equals average salary+bonus over prior three years multiplied by a factor set by the Compensation Committee (2.00–2.99; 2.0 for EVPs in 2024; 2.5 for CEO); two years of health/dental continuation; special retirement benefits; “Best Net” 280G cutback if beneficial .
- Non-CIC severance (precedent for EVPs): cash severance of 2x base salary over 12 months; continued RSU vesting for 12 months; PSUs vest per performance achieved prior to departure; benefits continuation per agreement .
Performance & Pay Context (Everest Group)
| Metric | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|
| Revenues ($USD) | $12,542,000,000* | $14,755,000,000* | $16,935,000,000* |
| Net Income ($USD) | $597,000,000* | $2,517,000,000* | $1,373,000,000* |
| Cash from Operations ($USD) | $3,695,000,000* | $4,553,000,000* | $4,957,000,000* |
Values retrieved from S&P Global.*
Additional Everest performance metrics:
- FY2024: Gross Written Premium $18.2B; +9.1% growth; TSR 9.2%; Net Operating Income $1.3B; Net Operating Income ROE 9.0% .
- FY2023: Gross Written Premium $16.6B; TSR 26.5%; After-tax operating ROE 23.1% .
Compensation governance and shareholder inputs:
- Compensation Committee fully independent; annual say-on-pay support: 93% in 2024 (for 2023 comp) and 93% in 2025 (for 2024 comp) .
- Compensation peer group includes AIG, Arch, AXIS, Chubb, Cincinnati Financial, CNA, Hanover, Markel, RenRe, W.R. Berkley (2024/2025 peer sets) .
Investment Implications
- Alignment: Everest’s prohibition on hedging/pledging, 3x salary ownership guideline for NEOs, and broad clawback reduce governance red flags and strengthen pay-for-performance alignment for senior executives such as the General Counsel .
- Performance-tied LTI: PSU design tied to ROE and TSR (with relative TSR to peers) over multi-year periods supports long-term value creation and mitigates short-termism—beneficial for legal-risk oversight roles influencing underwriting, reserving, and litigation exposure management .
- Retention economics: Double-trigger CIC and structured severance with continued vesting of certain awards balance retention and shareholder protection, limiting single-trigger windfalls while providing competitive protections for a critical control function executive .
- Near-term disclosure watch: Vidovich’s specific base, target bonus, and equity grant terms were not in the appointment 8-K; monitor subsequent Item 5.02 filings for compensatory arrangements to refine pay-for-performance and severance/CIC economics analysis .
Citations:
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