Jeanne L. Mockard
Employers HoldingsAbout Jeanne L. Mockard
Jeanne L. Mockard (age 61) is an independent director of Employers Holdings, Inc. (EIG) and has served on the board since 2018; she became independent Chair of the Board in March 2024. She is a CFA with over 20 years managing large investment portfolios, previously a Managing Director and Portfolio Manager at Putnam Investments, and since 2009 principal at JLM Capital & Consulting focused on financial and technology clients and private investments. She holds a B.S. from Tufts University and an MBA from the University of Virginia Darden School of Business .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| JLM Capital & Consulting | Principal | Since 2009 | Consulting for financial/technology firms; evaluates private investments |
| Putnam Investments | Managing Director & Portfolio Manager | Over 20 years | Led large investment portfolios; deep financial markets expertise |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Nuclear Electric Insurance Limited | Director; Audit Committee member; Chair of Finance Committee | Current | Financial oversight; audit governance responsibility |
| Silent Spring Institute | Director | Current | Non-profit governance |
| The Bryn Mawr School | Endowment Committee Member | Current | Endowment oversight |
| Lutheran Deaconess Association | Chair of Investment Committee; Treasurer | Current | Investment and financial stewardship |
Board Governance
- Independence: Board affirms all non-employee directors (including Mockard) are independent under NYSE standards; board currently led by independent Chair, Ms. Mockard .
- Committee assignments and chair roles:
- Chair of the Board
- Executive Committee: Chair; 2024 meetings held: 0
- Audit Committee: Member; 2024 meetings held: 5; each member deemed an “audit committee financial expert”
- Attendance and engagement: Board met 7 times in 2024; each director then serving attended at least 75% of aggregate Board and committee meetings; continuing directors attended the 2024 annual meeting .
- Inspector of election: As Chair, Mockard appointed EQ Shareowner Services as inspector of election for the 2025 annual meeting .
Fixed Compensation
| Component | Amount/Terms | 2024 Value |
|---|---|---|
| Board member annual cash retainer | $65,000 | Included in Fees Earned |
| Chair of the Board cash fee | $75,000 (pro-rated for 2024 given Chair role began March 2024) | Included in Fees Earned |
| Committee chair fees | Audit $20,000; Compensation $15,000; Other committees $10,000 | N/A for 2024 (Mockard not committee chair except Executive) |
| Committee membership fees | Audit $14,000; Compensation $12,000; Other committees $9,000 | Audit committee membership fee included |
| Committee meeting fees (over 8/year) | Audit $1,750; Comp/Other $1,500 | As applicable |
| RSU annual grant | $85,000 grant-date fair value; vests May 23, 2025 (2024 director grant) | $84,995 (grant-date fair value) |
| 2024 Director total compensation (Mockard) | Fees: $149,458; Stock awards: $84,995; All other comp: $4,739; Total: $239,192 | $239,192 |
Additional RSU details:
- Grant date: May 23, 2024; FMV per share at grant: $41.12
- Unvested RSUs outstanding as of Dec. 31, 2024: 2,067 (standard for then-serving directors)
Performance Compensation
| Director Performance-Linked Pay | Status |
|---|---|
| Performance-based equity or cash for non-employee directors | None; director compensation comprises cash retainers and time-vesting RSUs only |
Context on company-wide executive performance metrics (for governance oversight):
| Metric | 2024 Target/Threshold | 2024 Actual/Structure |
|---|---|---|
| Adjusted GAAP Calendar Year Combined Ratio (STI bonus hurdle) | Threshold 102.0% (bonus payable only if ≤102.0%) | 98.0%; resulted in STI awards 51%–95% of target depending on individual evaluation |
| PSUs metric (LTI) | 3-year annualized Change in Adjusted Book Value Per Share (ABVPS) vs. average 10-Year U.S. Treasury; Target = Treasury + 4.0%; Max = Treasury + 9.0% (250% of target) | PSU design is performance-based, measured 2024–2026; payout by Mar. 15, 2027 per achieved level |
Other Directorships & Interlocks
| Category | Disclosure |
|---|---|
| Current public company boards | None |
| Prior public company boards (last five years) | None |
| Known interlocks with EIG competitors/suppliers/customers | None disclosed; related-party transactions reviewed under policy; no director loans or debt; no specific director-related transactions noted |
Expertise & Qualifications
- Financial markets leadership (20+ years), CFA credential, investment portfolio management .
- Board and committee experience across finance and audit (NEIL finance chair; audit committee member), strengthening EIG’s audit oversight .
- Audit Committee “financial expert” designation applies to all Audit members (including Mockard) .
- Technology and financial services exposure via consulting and prior roles .
Equity Ownership
| Item | Value |
|---|---|
| Beneficial ownership (common shares) | 14,674 shares; <1% of outstanding |
| Unvested director RSUs (Dec. 31, 2024) | 2,067 RSUs (standard) |
| Director stock ownership guideline | Minimum 3× annual cash Board retainer; directors may accumulate over first 3 years |
| Compliance status | As of the record date, all non-employee directors with ≥3 years on board (including Mockard) hold requisite shares |
| Hedging/Pledging policies | Anti-hedging policy applies to directors; prohibits hedging of Company equity; equity grant policies prohibit pledging for certain executives; directors subject to anti-hedging |
Governance Assessment
- Board effectiveness: Independent Chair structure (Mockard), strong committee rotation, and comprehensive risk oversight; Audit Committee members deemed “financial experts” supports financial reporting quality .
- Independence and engagement: Confirmed independence; attendance at least 75%; annual meeting participation signals engagement .
- Director compensation alignment: Mix of cash and time-vesting RSUs; no per-meeting Board fees; committee fees calibrated; CAP engaged with independence affirmed; 2024 structure unchanged, deemed competitive .
- Policies that bolster investor confidence: Robust clawback policies; anti-hedging; no tax gross-ups for change-in-control; stock ownership guidelines for directors and executives .
- Related-party exposure: Policy in place; no director/officer loans; BlackRock IMA oversight by Audit Committee; no director-specific conflicts disclosed .
- Shareholder support: Say-on-pay approvals >95% in each of the last five years indicate sustained investor endorsement of compensation governance .
RED FLAGS: None disclosed regarding related-party transactions, hedging/pledging, attendance shortfalls, or controversial pay practices for directors .