Christopher K. Tyler
GLOBE LIFEAbout Christopher K. Tyler
Christopher K. Tyler is Executive Vice President and Chief Information Officer (CIO) of Globe Life Inc., serving since June 2022. Prior roles include CIO at Magellan Health (Feb 2020–May 2022) and CIO at Lifecare Health Partners (May 2018–Dec 2019) . Age 51 (as of the 2025 proxy), he leads enterprise IT and cybersecurity-related functions within a governance framework where the Board (via the Audit Committee) receives quarterly briefings from the CISO and oversees cybersecurity as part of enterprise risk management . During his tenure, Globe Life delivered strong operating results: Operating EPS grew from $10.65 (2023) to $12.37 (2024); book value per share (ex-AOCI) rose from $76.21 to $86.40; and net operating income ROE was 14.7% in 2023 and 15.1% in 2024 .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Globe Life Inc. | EVP & Chief Information Officer | Jun 2022–present | Oversees enterprise IT; operates under Board/Audit Committee cybersecurity oversight and ERM structure . |
| Magellan Health | Chief Information Officer | Feb 2020–May 2022 | Led health-tech IT function prior to joining GL . |
| Lifecare Health Partners | Chief Information Officer | May 2018–Dec 2019 | Directed IT transformation in healthcare operations . |
External Roles
No public company directorships or external board roles disclosed for Tyler .
Fixed Compensation
- Globe Life structures EVP pay with base salary set annually by the Compensation Committee considering role experience, peer ranges, and individual performance .
- The company emphasizes long-term equity over cash across executives (co-CEOs target mix 83% performance-linked in 2024), consistent with pay-for-performance and shareholder alignment philosophy .
Performance Compensation
Annual Incentive (MIP) – 2024 framework and outcomes
- Metrics and weighting: Operating EPS (50%), Total Premium (30%), First-Year Collected Premium (20%) .
- Corporate performance factor: 128.6% (no Committee discretion applied) .
- Individual performance factors apply to NEOs (not co-CEOs); EVP-level executives typically have both corporate and individual components under MIP design .
| 2024 MIP Performance Goals & Payout Levels | Threshold | Target | Maximum | Actual | Metric Payout |
|---|---|---|---|---|---|
| Operating EPS (50% weighting) | $10.90 | $11.40 | $11.70 | $11.96 | 150.0% |
| Total Premium ($mm, 30%) | $4,550 | $4,680 | $4,810 | $4,666 | 93.2% |
| First-Year Collected Premium ($mm, 20%) | $495 | $545 | $595 | $576.2 | 128.5% |
| Weighted corporate performance factor | 128.6% |
Long-Term Equity – vehicles and vesting
- Options: 7-year term; grant price = NYSE closing price on grant date; vest 50% at 2-year and 50% at 3-year anniversaries .
- Performance Shares (PSUs): 3-year cliff vest based on two metrics—book value per share (ex-AOCI, inclusive of cumulative dividends over period) and average net operating income ROE—each at 50% weighting for recent cycles .
- RSUs: 3-year cliff vest; retirement provisions prorate after age 60 .
2022–2024 PSUs vesting (awarded in 2022; paid Feb 2025)
| Metric (weight) | Threshold | Target | Maximum | Actual | Performance Multiplier |
|---|---|---|---|---|---|
| Cumulative Operating EPS (40%) | $24.76 | $28.10 | $30.25 | $29.08 | 123% |
| Underwriting Income ($mm, 30%) | $2,469.0 | $2,820.0 | $3,077.0 | $2,725.5 | 87% |
| Net Operating Income ROE (30%) | 11.50% | 13.60% | 15.10% | 13.86% | 109% |
| Payout factor | 107.7% |
Equity Ownership & Alignment
- Stock ownership guidelines: EVPs must hold stock equal to 3× annual salary; co-CEOs 6×; directors 5× annual cash retainer .
- Accumulation period: 7 years from role/election; until compliance, executives may not sell owned shares and must retain at least 50% of “profit shares” from option exercises or share vesting .
- Hedging/pledging: Prohibited for officers and directors (no collars/swaps/exchange funds; no pledging shares as collateral) .
- Section 16 compliance: All required filings were made timely for 2024 .
Company performance context (during Tyler’s tenure)
| Metric | FY 2023 | FY 2024 |
|---|---|---|
| Operating EPS ($) | 10.65 | 12.37 |
| Net Income per share ($) | 10.07 | 11.94 |
| Book value per share (ex-AOCI, $) | 76.21 | 86.40 |
| Net operating income (NOI, $mm) | 1,026.6 | 1,109.0 |
| NOI ROE (%) | 14.7% | 15.1% |
Employment Terms
- Contracts: The company historically has not used employment contracts for NEOs; practices focus on at-risk compensation and equity-based retention .
- Severance: In Nov 2024, Globe Life adopted an Executive Severance Plan effective Jan 1, 2025 (participants sign agreements). SERP was amended Nov 5, 2025 to coordinate with the Severance Plan (age/vesting deeming, including during change-in-control protection periods) .
- Clawback: A no-fault clawback policy (adopted Nov 8, 2023) applies to current and former executive officers for three fiscal years preceding any required accounting restatement; recovery of excess incentive compensation is mandatory unless impracticable .
- Non-compete / non-solicit: Equity awards include post-separation restrictive covenants (non-compete, non-solicit, confidentiality) generally for two years (or longer through remaining vesting period upon retirement) .
- Change-of-control (equity):
- If awards are not assumed/substituted: options fully exercisable; PSUs paid at 100% target pro-rata; RSUs vest .
- If assumed/substituted: double-trigger—full vesting/payout if terminated without cause or for good reason within two years (three years for RSUs) post-CIC; PSUs paid at 100% target pro-rata .
Change-of-Control Equity Treatment (summary)
| Scenario | Options | PSUs | RSUs |
|---|---|---|---|
| Not assumed/substituted | Fully exercisable | 100% target, pro-rata | Vest fully |
| Assumed/substituted + termination w/o cause or for good reason (≤2 yrs; 3 yrs for RSUs) | Fully exercisable | 100% target, pro-rata | Vest fully |
Compensation Structure Analysis
- MIP redesign (Nov 2023) for 2024: codified corporate bonus pool and change-in-control proration; Committee can reduce (not increase) co-CEO bonuses; non-CEO participants have corporate and individual objectives .
- Equity practices: One annual grant cycle post-10-K filing (e.g., Feb 28, 2024); no repricing; options at market; minimum vesting provisions; dilution managed via shareholder value transfer analytics .
- Peer benchmarking: 2025 peer group refreshed to emphasize product alignment/profitability (added Principal, Equitable, Voya, Brighthouse, Jackson, F&G; removed AFG, CNA, Erie, FNF, First American, W.R. Berkley) .
- Consultants: Pay Governance retained in Feb 2024; Board Advisory served previously; both provide peer, pay-performance, and design guidance .
Risk Indicators & Red Flags
- Legal proceedings: Ongoing consolidated shareholder derivative litigation (E.D. Tex.) and a Dallas County Business Court derivative suit reference allegations (oversight, insider trading by certain individuals, compensation waste) largely derived from a short-seller report; Globe Life intends a robust defense .
- Governance mitigants: Lead independent director, independent committees, clawback policy, prohibition on hedging/pledging, and executive stock ownership requirements .
Equity Award Vesting & Insider Selling Pressure
- Standard schedules can create periodic sell-to-cover activity on vest dates (tax withholding) and option exercises; company requires retention of at least 50% of “profit shares” until guideline compliance, reducing discretionary selling pressure .
- Options vest at years 2 and 3; PSUs cliff vest at year 3 based on multi-year metrics; RSUs cliff vest at year 3 (or prorated at retirement after age 60), concentrating events to known annual cycles .
Say-on-Pay & Shareholder Support
- Approval rates: 84% (2023) and 92% (2024) advisory votes in favor of executive compensation; 5-year average ~90% .
Investment Implications
- Alignment: Strong governance (ownership guidelines, clawback, anti-hedging/pledging) and performance-linked incentives (EPS, premium growth, book value/NOI ROE PSUs) indicate good pay-for-performance discipline that should align Tyler’s incentives with long-term shareholder value .
- Retention risk: With equity-heavy compensation and standard 2/3-year vesting, retention risk is mitigated by continued grant cycles and ownership requirements; however, lack of disclosed individual grant detail for Tyler limits precision on his unvested equity exposure .
- Execution risk: As CIO, Tyler operates under robust board-level cybersecurity oversight; continued investment in technology to enhance customer and operations suggests the function remains a strategic priority, but litigation context elevates headline risk until matters resolve .
- Trading signals: Expect periodic vest/exercise-related flows around February grant/vest cycles; corporate buybacks aim to offset option exercise dilution, reducing net supply impacts .