Ramy Tadros
METLIFEAbout Ramy Tadros
Ramy Tadros is Regional President of MetLife’s U.S. Business and Head of MetLife Holdings, overseeing Group Benefits and Retirement & Income Solutions (RIS) as well as the closed-block businesses in MetLife Holdings; these combined represented more than 60% of Core Adjusted Earnings in 2024 . In 2024 under his leadership, Group Benefits generated $1.7B of Core Adjusted Earnings and RIS generated $1.6B; RIS executed $6.7B of U.S. and U.K. pension risk transfer sales, with sales up 45% year-over-year . He is age 49 per the FY2024 10-K executive officer roster . Company pay-versus-performance disclosure shows MetLife’s $100 TSR rose to $190.54 by 2024, and Adjusted Earnings were $5.796B in 2024, providing broader performance context for executive incentive linkage .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| MetLife, Inc. | Executive Vice President & Chief Risk Officer | Sep 2017 – Apr 2019 | Oversaw enterprise risk; foundation for subsequent U.S. Business leadership . |
| MetLife, Inc. | President, U.S. Business | May 2019 – Aug 2023 | U.S. businesses represented approximately half of Core Adjusted Earnings in 2022; drove growth and portfolio repositioning (e.g., Versant Health acquisition, UK longevity risk transfer entry) . |
| MetLife, Inc. | Regional President, U.S. Business & Head of MetLife Holdings | Sep 2023 – Present | Led Group Benefits and RIS plus MLH; 2024 results included $1.7B Group Benefits Core Adjusted Earnings, $1.6B RIS Core Adjusted Earnings, $6.7B PRT sales . |
External Roles
No public company board roles or external directorships disclosed for Tadros in the company’s filings .
Fixed Compensation
| Metric | 2021 | 2022 | 2023 |
|---|---|---|---|
| Salary ($) | 825,000 | 843,750 | 876,250 |
| Non-Equity Incentive Plan Compensation (AVIP) ($) | 2,200,000 | 2,300,000 | 2,200,000 |
| Stock Awards (Grant-date fair value, $) | 2,661,121 | 3,001,012 | 3,643,454 |
| Option Awards (Grant-date fair value, $) | 350,007 | 383,796 | 451,678 |
| All Other Compensation ($) | 113,000 | 121,750 | 127,050 |
| Total ($) | 6,435,102 | 6,965,884 | 7,659,118 |
| 2024 Performance-Year Decisions (made in 2025) | Amount ($) |
|---|---|
| Base Salary Earned | 907,500 |
| AVIP Award (cash) | 2,100,000 |
| LTI Granted in 2025 (award value, not GAAP) | 4,750,000 |
| Total Compensation (sum of above) | 7,757,500 |
- 2024 AVIP funding performance factor for broadly eligible employees was 101.4% of target .
- The Compensation Committee endorsed a $30,000 base salary increase for Tadros in 2024, reflecting performance and market positioning .
Performance Compensation
| Component | Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|---|
| Annual Cash Incentive (AVIP) – 2024 | Company performance vs Business Plan | Not formulaic at individual level | 100% | 101.4% funding factor | $2,100,000 | Cash paid in 2025 |
| Performance Shares (2022–2024 cycle) | 3-year TSR vs peers; 3-year Adjusted ROE vs Business Plan | 70% of executive LTI award value in Performance Shares (program level) | 100% | 114.3% performance factor | Included in 2024 stock vested; Tadros vested 53,675 sh, $4,289,010 value | Vests at cycle end (Dec 31, 2024) |
| Performance Shares (2023–2025 cycle) | TSR; Adjusted ROE | Part of LTI | 100% | TBD | Max unearned PSUs outstanding: 70,021 | Vests Dec 31, 2025 |
| Performance Shares (2024–2026 cycle) | TSR; Adjusted ROE | Part of LTI | 100% | TBD | Max unearned PSUs outstanding: 76,518 | Vests Dec 31, 2026 |
| Restricted Stock Units (2024 grants) | Time-based | 30% of LTI (program level) | N/A | N/A | 9,370 RSUs granted (2024) | Vests in thirds each first business day of March on or following first three anniversaries; special 8/31/23 grant vests on 3rd anniversary |
| Stock Options (2024 grants) | Time-based, 10-year term | N/A | N/A | N/A | 28,113 options granted at $69.16 strike | Vest one-third annually over first three anniversaries; 10-year expiration |
Program design highlights:
- 70% of executive officer LTI value in Performance Shares; metrics are three-year relative TSR and three-year Adjusted ROE, aligning payouts with long-term performance; RSUs settle in shares and depend on share value at settlement .
- Clawback policies include performance-based recoupment for misconduct or materially inaccurate performance measures, and mandatory recovery of erroneously awarded compensation upon certain restatements regardless of fault .
Equity Ownership & Alignment
| Ownership Snapshot | Mar 28, 2024 | Mar 31, 2025 |
|---|---|---|
| Common Stock (#) | 121,191 | 147,033 |
| Exercisable Stock Options (#) | 107,328 | 133,701 |
| Deferred Shares (#) | 0 | 0 |
| Total Beneficial Ownership (#) | 228,519 | 280,734 |
| Percent of Class (%) | <1% | <1% (674,385,252 shares outstanding) |
Stock ownership alignment:
- Executive stock ownership guideline multiple: 4x base salary; Tadros is at/above guideline and compliant with 100% net share retention (retain all net shares from awards until guideline met/maintained) .
- Hedging and pledging of company securities are prohibited for directors and employees, including officers, mitigating misalignment risk from derivatives or collateralized holdings .
Outstanding equity awards at 2024 fiscal year-end (Ramy Tadros):
| Award Type | Status | Quantity | Terms |
|---|---|---|---|
| Options | Exercisable | 5,933 | $45.50 strike; expires 3/1/2028 |
| Options | Exercisable | 20,162 | $44.65; exp 2/25/2029 |
| Options | Exercisable | 28,374 | $47.58; exp 2/24/2030 |
| Options | Exercisable | 27,430 | $57.43; exp 2/22/2031 |
| Options | Exercisable/Unexercisable | 16,855 / 8,428 | $68.96; exp 2/21/2032 |
| Options | Exercisable/Unexercisable | 8,574 / 17,148 | $71.73; exp 2/27/2033 |
| Options | Unexercisable | 28,113 | $69.16; exp 2/26/2034 |
| RSUs Not Vested | Shares | 25,790 | Market value $2,111,685 at 12/31/2024 |
| PSUs Not Vested (Max) | Shares | 146,539 | Payout value $11,998,613 at 12/31/2024 |
Stock vested and option exercises:
| Metric | 2023 | 2024 |
|---|---|---|
| Options Exercised (#) | — | — |
| Stock Vested (#) | 71,933 | 53,675 |
| Value Realized on Vesting ($) | 4,803,236 | 4,289,010 |
Insider trading plan:
| Item | Detail |
|---|---|
| Rule 10b5-1 plan adoption | Adopted Dec 13, 2023 to sell 4,026 shares; plan expiration Aug 1, 2024 . |
Employment Terms
- No individual employment contracts for U.S.-based executive officers .
- Standard severance: eligibility for involuntary termination (excluding cause) provides severance based on grade, salary rate, and service; longer service yields greater benefits; outplacement included; pro-rata cash consideration for certain forfeited performance shares; rule-of-65 criteria can preserve outstanding LTI .
- Change-in-control (CIC) plan: Double-trigger required; no payments based solely on CIC; LTI may be substituted by equivalent awards; if no substitution, immediate vesting upon CIC; no excise tax gross-ups; CIC cash severance not beyond 2x total annual cash compensation (salary + average annual cash incentive) .
Potential payments upon termination/CIC (hypothetical at 12/31/2024):
| Scenario | Accelerated Options ($) | Issuance of Shares for Share Awards ($) | Severance Pay ($) | Outplacement ($) | Pro-Rata Delivery of Shares ($) | Benefits Continuation ($) |
|---|---|---|---|---|---|---|
| Death | 640,539 | 8,968,071 | — | — | — | — |
| Severance-Eligible Termination (No CIC) | — | — | 615,865 | 3,071 | 3,157,400 | — |
| CIC (Assuming No Alternative Award) | 640,539 | 8,968,071 | — | — | — | — |
| CIC Severance-Eligible Termination | — | — | 6,296,667 | — | — | 89,221 |
Clawbacks and risk controls:
- Performance-based recoupment for fraudulent or wrongful conduct causing harm, including restatements; executive-level recoupment for materially inaccurate performance measures; Dodd-Frank compliant clawback for erroneous compensation upon certain restatements .
- Anti-hedging/anti-pledging; multi-year LTI performance periods; AVIP design and Adjusted Earnings metric exclude volatile items, aligning incentives to prudent risk-taking .
Investment Implications
- Alignment: High variable pay with 70% of LTI in performance shares tied to three-year TSR and Adjusted ROE, plus strict ownership/retention and anti-hedging/anti-pledging policies → strong shareholder alignment and reduced misalignment risk .
- Retention risk: Meaningful unvested RSUs/PSUs and multi-year vesting, with double-trigger CIC protections and standard severance; absence of employment contracts or tax gross-ups suggests balanced retention without entrenchment .
- Trading signals: Adoption of a Rule 10b5-1 plan (Dec 2023) for 4,026 shares indicates structured selling; no options exercised in 2023–2024, while sizable vesting occurred, which may imply limited near-term discretionary sales outside planned programs .
- Execution track record: Oversight of segments driving majority of Core Adjusted Earnings, with strong 2024 operating outcomes (Group Benefits $1.7B Core AE; RIS $1.6B; $6.7B PRT sales) supports pay-for-performance and confidence in forward strategic initiatives .