Dolores L. Skarjune
GLOBE LIFEAbout Dolores L. Skarjune
Dolores L. Skarjune is Executive Vice President and Chief Administrative Officer (EVP & CAO) at Globe Life Inc., serving since January 2023. She is 59, with prior leadership across multiple GL subsidiaries: Divisional SVP, Sales & Administration for American Income, Globe Life And Accident, Liberty National, and United American (since September 2019); Corporate SVP, Sales Administration (January 2021–December 2022); and Divisional SVP, Administration at Family Heritage (since June 2023) . Company performance under the executive team shows operating EPS up 16% in 2024, NOI ROE (excluding AOCI) at 15.1%, and total premium up 5% . Revenues rose from $5.30B to $5.80B over 2022–2024 and EBITDA from $1.22B to $1.50B*, supporting pay-for-performance alignment across incentive programs.
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Globe Life Inc. | EVP & Chief Administrative Officer | Jan 2023–present | Enterprise administration leadership across subsidiaries; supports execution of long-term growth and operational objectives . |
| Family Heritage Life (GL subsidiary) | Divisional SVP, Administration | Jun 2023–present | Scales administrative processes to support health product sales growth and persistency . |
| American Income Life; Globe Life And Accident; Liberty National; United American (GL subsidiaries) | Divisional SVP, Sales & Administration | Sep 2019–present | Drives sales operations and administrative discipline across key distribution channels . |
| Globe Life Inc. | Corporate SVP, Sales Administration | Jan 2021–Dec 2022 | Corporate-level sales administration leadership; alignment of policy acquisition and execution . |
External Roles
No external directorships or roles disclosed for Ms. Skarjune in the latest proxy.
Fixed Compensation
Not individually disclosed for Ms. Skarjune (she was not a Named Executive Officer in 2024). Company-wide EVP/NEO framework: base salary set annually by the Compensation Committee based on market ranges, experience, internal parity, and performance; Co-CEOs’ 2025 salaries remained at $900,000 .
Performance Compensation
Company incentive design applicable to executive management (including EVPs):
- Annual cash incentive (MIP): Co-CEOs 100% corporate metrics; other NEOs 75% corporate metrics + 25% individual objectives. Corporate metrics and weights: Operating EPS (50%), Total Premium (30%), First-Year Collected Premium (20%) .
- Long-term incentives: stock options (7-year term; 50% vesting at year 2 and 50% at year 3), performance shares (3-year cliff; 50% cumulative book value per share growth and 50% average NOI ROE), and RSUs (3-year cliff; retirement proration) .
2024 MIP corporate metrics and outcome:
| Metric | Weight | Target | Actual | Payout (component) |
|---|---|---|---|---|
| Operating EPS ($) | 50% | $11.40 | $11.96 | 150.0% |
| Total Premium ($MM) | 30% | $4,680 | $4,666 | 93.2% |
| First-Year Collected Premium ($MM) | 20% | $545 | $576.2 | 128.5% |
| Corporate Performance Factor (weighted) | — | — | — | 128.6% |
LTI mix evolution:
- 2024 intended mix (Co-CEOs): Options 45%, PSUs 45%, RSUs 10% .
- From 2025 (all executives): Performance shares 60%, Options 30%, RSUs 10% .
Equity Ownership & Alignment
- Insider transactions (2025): Ms. Skarjune exercised options and sold shares in September 2025. On 9/12/2025, she exercised 2,100 options at $82.56 and 2,400 options at $98.32, and sold 4,500 shares at $142.52; post-transaction, she directly owned 9,417 shares and indirectly held 2,701.527 shares via a 401(k) plan . On 9/10/2025, she exercised 6,200 options at $103.23 and sold 3,354 and 1,620 shares in price ranges ~$139.31–$140.49; post-transaction, she directly owned 11,037 shares and indirectly held 2,701.527 shares .
- Stock ownership guidelines: EVPs must hold stock equal to 3x salary; seven-year compliance period; until met, executives must retain at least 50% of “profit shares” from option exercises/vests; options/PSUs do not count toward guideline .
- Hedging/pledging: Prohibited for Section 16 officers; no pledging permitted .
Ownership snapshot (recent filings):
| Date | Direct Shares | Indirect (401k) | Notes |
|---|---|---|---|
| 2025-09-10 | 11,037 | 2,701.527 | After option exercise (6,200 @ $103.23) and sales (3,354 + 1,620) |
| 2025-09-12 | 9,417 | 2,701.527 | After option exercises (2,100 @ $82.56; 2,400 @ $98.32) and sale (4,500 @ $142.52) |
Employment Terms
- Appointment/role: Executive officers are appointed annually by the Board (or subsidiary boards) and serve at the pleasure of those boards; no arrangements or understandings for selection .
- Employment contracts: Company emphasizes that NEOs do not have employment contracts; compensation is governed by plans/policies overseen by the Compensation Committee .
- Non-compete/non-solicit: Equity award agreements include non-compete, non-solicit, and confidentiality provisions effective for two years post-separation (or through remaining vesting period for retirements) .
- Clawback: NYSE/SEC-compliant clawback adopted November 8, 2023; requires recoupment of excess incentive compensation for three completed fiscal years preceding a required restatement; “no-fault,” applies to current/former executive officers .
- Change-in-control treatment: No single-trigger vesting; if awards are not assumed, options become fully exercisable, PSUs pay at target pro-rata, RSUs vest; if assumed, double-trigger applies (termination without cause or for good reason within 2 years for options/PSUs, 3 years for RSUs) .
- Executive Severance Plan: Adopted November 2024, effective January 1, 2025 (applies to NEOs); SERP amended November 2025 to coordinate vesting assumptions during change-of-control severance periods (deemed age/vesting and no additional credited service) .
Company Performance (context for pay-for-performance)
| Metric | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|
| Revenues ($MM) | 5,302.0* | 5,512.9* | 5,801.9* |
| EBITDA ($MM) | 1,216.0* | 1,318.5* | 1,502.3* |
| Net Income ($MM) | 894.4* | 970.8* | 1,070.8* |
| Values retrieved from S&P Global.* |
Additional performance highlights:
- Operating EPS increased 16% in 2024; total premium up 5%; net operating income surpassed $1B for second consecutive year .
- Pay-versus-performance analyses show compensation actually paid tracking TSR and operating metrics over time; 2024 NOI ROE excluding AOCI was 15.1% .
Compensation Structure Insights
- Annual incentives capped at 150% of target; 2024 corporate factor was 128.6% .
- Long-term equity emphasizes performance shares and options; from 2025 mix increases PSUs to 60% to intensify performance linkage .
- No tax gross-ups; no repricing; robust stock ownership and anti-hedging/pledging policies; independent consultant (Pay Governance) retained by the Compensation Committee .
Risk Indicators & Red Flags
- Hedging/pledging: Prohibited for officers (reduces misalignment risk) .
- Clawback: Broad, no-fault restatement clawback (strong governance) .
- Related-party transactions: Board reported none for 2024 .
- Insider selling pressure: September 2025 Form 4s show option exercises with sales around $139–$142, indicating potential tax/ownership-guideline retention considerations rather than unusual patterns; no 10b5-1 plan indicated in filings .
Compensation Peer Group & Shareholder Feedback
- Peer group methodology: Emphasizes enterprise value, product alignment, and profitability; 2025 benchmarking updated (added PFG, EQH, VOYA, BHF, JXN, FG; removed AFG, CNA, ERIE, FNF, FAF, WRB) .
- The Committee does not target a specific percentile; pay emphasizes variable, equity-linked compensation .
- Say-on-Pay: 92% approval in 2024; five-year average ~90% .
Investment Implications
- Alignment: Strong pay-for-performance architecture (PSUs tied to book value growth and NOI ROE; MIP tied to operating EPS and premium growth) supports long-term value creation and discourages short-term risk-taking .
- Governance: Prohibitions on hedging/pledging, robust clawback, and double-trigger CoC vesting reduce misalignment and windfall risks; no tax gross-ups and no repricing remove shareholder-unfriendly practices .
- Retention/pressure: Insider sales in September 2025 appear related to option exercises and do not signal outsized selling pressure; ownership guidelines require retention of profit shares until compliance (mitigates premature disposals) .
- Performance backdrop: Rising revenues and EBITDA*, operating EPS growth, and sustained NOI ROE underpin incentive payout quality; continued focus on performance shares (60% from 2025) heightens sensitivity to fundamental execution . Values retrieved from S&P Global.*