Pam Bottles
Jackson FinancialAbout Pam Bottles
Pam Bottles is interim Chief Actuary at Jackson National Life Insurance Company, effective April 14, 2025 . She has been listed as an officer (Vice President) in Jackson’s statutory statements since at least 2021, indicating multi‑year tenure at the company . Company performance context during 2024 includes net income attributable to common shareholders of $902 million, adjusted operating ROE of 12.9%, and RBC ratio of 572% at JNL; Jackson’s TSR ranked 94th percentile versus the S&P Insurance Select Industry Index peer group . Jackson prohibits executive hedging and pledging and maintains executive stock ownership guidelines overseen by the Compensation Committee .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Jackson National Life Insurance Company (JNL) | Interim Chief Actuary | 2025–present | Leads actuarial function, supporting enterprise risk and ALM; appointed amid executive transitions effective Apr 14, 2025 . |
| Jackson National Life Insurance Company / JNLIC‑NY | Vice President | ≥2021–2025 | Senior leadership across actuarial/finance operations per statutory officer listings . |
External Roles
No public company or nonprofit board roles for Bottles are disclosed in Jackson’s SEC filings or company press materials .
Fixed Compensation
- Base salary, target bonus %, and actual bonus for Pam Bottles are not disclosed in Jackson’s 2025 proxy or 8‑K filings; the April 10, 2025 8‑K provided compensation details for other appointees but did not include Bottles .
Performance Compensation
Company program design and 2024 outcomes (indicative of pay‑for‑performance alignment across executives; individual Bottles payout not disclosed):
| 2024 Short‑Term Incentive Performance Metrics | Weighting | Threshold | Target | Maximum | Performance Outcome | Payout % |
|---|---|---|---|---|---|---|
| Pretax Adjusted Operating Earnings | 60% | $1,357m | $1,696m | $2,035m | $1,815m | 135.1% |
| Controllable Costs | 20% | $847m | $770m | $693m | $735m | 145.5% |
| Key Strategic Objectives | 20% | Qualitative | Qualitative | Qualitative | Target Achieved (see Board notes) | 120.0% |
| Cumulative Payout (Jackson Annual Bonus Program) | — | — | — | — | — | 134.1% |
Long‑Term Incentive PSU metrics (company‑wide design refined in 2024):
| 2024–2026 PSU Metric | Weighting | Threshold (50% payout) | Target (100% payout) | Maximum (200% payout) |
|---|---|---|---|---|
| Net Cash Flow to JFI | 50% | $1,225m | $2,449m | $3,674m |
| Adjusted Operating ROE | 50% | 11.1% | 13.9% | 16.7% |
| rTSR Modifier vs S&P Insurance Select Industry Index | Modifier | Bottom quartile: 80% | 2nd/3rd quartile: 100% | Top quartile: 120% |
- Key notes: 2024 changes increased ROE weighting and replaced the cash flow metric to reduce volatility, maintaining rTSR alignment with shareholders .
Equity Ownership & Alignment
| Policy/Requirement | Details |
|---|---|
| Hedging & Pledging | Directors and executive officers are prohibited from hedging and pledging company stock . |
| Executive Stock Ownership Guidelines | CEO: 7x base salary; Executive Committee members: 4x; SVPs/equivalent: 1x; 5‑year compliance window; unvested RSUs count, PSUs do not . |
| Clawback Policy | Recoupment for restatements, breaches of law/standards, or misconduct; effective Dec 1, 2023 for incentive received on/after Oct 2, 2023 . |
- Beneficial ownership, vested/unvested breakdown, and Form 4 trading activity for Bottles are not disclosed in the 2025 proxy tables; monitor future Section 16 filings for insider transactions .
Employment Terms
General executive plan terms (Bottles’ specific participation not disclosed):
| Element | Key Terms |
|---|---|
| Severance Plan | Lump‑sum cash: CEO 2.0x; other NEOs 1.5x “severance compensation basis” (base salary + target bonus + 12 months COBRA). Includes pro‑rated current‑year bonus and prior‑year earned bonus if unpaid; subject to release . |
| RSU Termination Treatment | Death/disability: full vest; without cause/good reason: pro‑rata vest to next date; qualifying retirement: vest on schedule (covenants and release conditions apply) . |
| PSU Termination Treatment | Death: vest at target; disability/qualifying retirement: earned based on full performance cycle; without cause/good reason: pro‑rata earned based on actual performance (release conditions apply) . |
| Change‑in‑Control | If awards assumed, double‑trigger acceleration (involuntary termination or good reason within 24 months) leads to immediate vest and value settlement; if not assumed, unvested awards vest pre‑closing . |
Investment Implications
- Alignment and risk controls: Hedging/pledging prohibitions, robust ownership guidelines, and clawback provisions suggest strong alignment and risk discipline; pay design emphasizes ROE, cash flow, and rTSR, which may support shareholder returns if targets are met .
- Disclosure gap and retention: Bottles’ interim status and absence of individual compensation/ownership disclosure create limited visibility into personal incentives and selling pressure; watch for future proxies and Form 4 filings to assess equity skin‑in‑the‑game and retention risk .
- Company performance context: Elevated 2024 TSR percentile and capital strength (RBC 572%, $902m net income; increased capital return targets) provide favorable backdrop for executive incentive attainment, potentially supporting pay‑for‑performance narratives .