James P. Brannen
GLOBE LIFEAbout James P. Brannen
Independent director at Globe Life Inc. since November 2021 and Chair of the Governance & Nominating Committee; age 62. Former CEO and CFO of FBL Financial Group with nearly three decades of insurance and financial services leadership, and a B.B.A. in Accounting from the University of Iowa; member of the AICPA and Iowa Society of CPAs. The Board affirmed his independence on February 26, 2025 under NYSE and Globe Life’s categorical standards .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| FBL Financial Group, Inc. | Chief Executive Officer | 2012–2019 | Led strategy, capital management, and executive oversight |
| FBL Financial Group, Inc. | CFO, Chief Administrative Officer, Treasurer | 2007–2012 | Finance leadership and enterprise administration |
| FBL Financial Group, Inc. | Vice President – Finance | 1999–2006 | Financial planning and performance |
| FBL Financial Group, Inc. | Tax Vice President | 1991–1999 | Tax leadership |
| Ernst & Young, LLC | Tax Manager | 1985–1991 | Public accounting and tax |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Amerisure Mutual Insurance Company | Director | 2020–present | Private mutual insurer board |
| First Interstate BancSystem (NASDAQ: FIBK) | Director | 2022–2023 | Former public company board |
| Great Western Bancorp, Inc. (NYSE: GWB) | Director | 2015–2022 | Former public company board |
| FBL Financial Group Inc. | Director | 2012–2019 | Prior board service |
| Greater Des Moines Partnership | Director | 2012–2019 | Regional economic development |
| Property Casualty Insurers Association of America | Director | 2012–2019 | Industry association governance |
| United Way of Central Iowa | Director | 2010–2016 | Non-profit governance |
Board Governance
- Committee roles:
- Governance & Nominating Committee: Chair; 4 meetings in 2024 .
- Special Pricing Committee member in August 2024 (terms for $450M Senior Notes due 2034) .
- Independence: Determined independent under NYSE and Board standards as of Feb 26, 2025 .
- Attendance and engagement:
- All directors attended ≥75% of Board and applicable committee meetings in 2024; all directors present at the April 25, 2024 Annual Meeting .
- Board held 4 physical meetings and took action by unanimous written consent 3 times in 2024; regular executive sessions of independent directors presided over by the Lead Director .
- Lead Director context: Board has a Lead Independent Director with defined responsibilities; current Lead Director is Linda L. Addison through the 2026 annual meeting .
Fixed Compensation
| Item | 2023 | 2024 |
|---|---|---|
| Fees Earned or Paid in Cash ($) | $113,333 | $120,000 (includes $20,000 Governance Chair retainer) |
| Option Awards ($) | $0 | $0 |
| Total ($) | $283,390 | $300,039 |
| Cash Retainer Policy | $100,000 cash retainer; Lead Director +$45,000; Committee Chairs: Audit $35,000, Compensation $25,000, Governance $20,000; Audit members +$12,500 | Standard policy unchanged; equity +$180,000; same chair fees |
Performance Compensation
| Grant Component | 2024 Detail |
|---|---|
| RSU Grant Date | January 2, 2024 |
| RSU Shares Granted | 1,475 |
| Grant Date Fair Value ($) | $180,039 |
| Vesting Terms | Not disclosed for directors (equity delivered per director election under 2018 Plan) |
| Option Awards | None |
| Director Equity Structure | Annual equity retainer $180,000 in director-elected form (options, restricted stock, or RSUs), issued first NYSE trading day of the year |
No explicit performance metrics are tied to non-management director compensation; the mix is cash retainers plus equity grants, designed to align with shareholder interests rather than short-term targets .
Other Directorships & Interlocks
| Category | Company | Role | Period |
|---|---|---|---|
| Current public boards | None | — | — |
| Prior public boards | First Interstate BancSystem (NASDAQ: FIBK) | Director | 2022–2023 |
| Prior public boards | Great Western Bancorp (NYSE: GWB) | Director | 2015–2022 |
| Current private/industry boards | Amerisure Mutual Insurance Company | Director | 2020–present |
- Interlocks/conflicts: No related-party transactions were identified for 2024 under the Board’s policy . Independence determinations applied NYSE and Board standards with no material relationships found .
Expertise & Qualifications
- Insurance and financial services leadership (CEO/CFO at FBL), with strengths in operations, finance, capital management, strategic planning, and executive management; former E&Y tax manager .
- Education/certifications: B.B.A. in Accounting (University of Iowa); AICPA and Iowa Society of CPAs .
Equity Ownership
| Metric | Value |
|---|---|
| Total beneficial ownership (shares) | 8,674 |
| Ownership % of shares outstanding | <1% (company denotes asterisk for under 1%) |
| Options exercisable/unexercisable | 0 options outstanding (director cohort detail explicitly lists 0 for Brannen) |
| Pledging/Hedging | Prohibited by company policy for directors and officers |
| Stock ownership guidelines | Non-management directors: 5x annual cash retainer; 7-year window to comply |
| Guideline compliance status | As of Dec 31, 2024 all directors and NEOs met guidelines or were within the accumulation period |
Governance Assessment
- Board effectiveness: As Governance & Nominating Chair, Brannen oversees director qualifications, independence assessments, committee assignments, governance guidelines, culture and human capital risk, and succession planning—central levers of board quality and refreshment; the committee met 4 times in 2024 .
- Independence & alignment: Affirmed independent; director equity retainer and RSUs support ownership alignment; hedging/pledging prohibited; stock ownership guidelines in place and in compliance across the board .
- Attendance & engagement: Met attendance thresholds; present at annual meeting; executive sessions regularly held—signals active oversight and independent board processes .
- Compensation structure: Cash increased modestly YoY driven by committee chair fee; equity award consistent at $180,039 with 1,475 RSUs; no options—mix emphasizes long-term alignment without performance metrics or meeting fees (reduces short-term incentives) .
- Related-party and red flags:
- No related-party transactions in 2024 .
- Section 16 compliance was timely in 2024 (company-wide) ; note in 2023 a single late Form 4 filing was recorded for several directors including Brannen due to administrative error (two business days late), which appears remediated in 2024 .
- Say-on-pay (NEO) support remained strong at 92% in 2024, supporting broader governance confidence .
RED FLAGS: None disclosed for Brannen in 2024 (no related-party transactions, no pledging/hedging, attendance met policy, independent status affirmed) .