John S. Scheid

About John S. Scheid

Independent director of Selective Insurance Group, Inc. since 2014 (age 69), serving on the Audit, Risk, and Executive Committees; designated Audit Committee financial expert and current Chair of the Board Risk Committee . A Wisconsin CPA, former PwC senior partner and global insurance assurance leader, with NACD Directorship Certification and CERT Certificate in Cybersecurity Oversight . Tenure on SIGI’s Board aligns with mandatory retirement age policy (no election after age 72) and independence standards under Nasdaq; the Board determined he is independent .

Past Roles

External Roles

Board Governance

• Committee assignments and roles:
  • Risk Committee: Chair; oversees ERM, reinsurance, cybersecurity/AI/data privacy; 4 meetings in 2024 .
  • Audit Committee: Member; Designated Audit Committee financial expert; 6 meetings in 2024 .
  • Executive Committee: Member; 1 meeting in 2024 .
• Independence, attendance, and engagement:
  • Board determined Scheid is independent under Nasdaq/SEC rules; all members of Audit, Governance, and Compensation Committees are independent .
  • Board held 7 meetings in 2024; independent directors met 4 times without management; all directors attended at least 75% of aggregate meetings, with average attendance over 98%; all directors attended 2024 annual meeting .
• Board processes and safeguards:
  • Majority voting policy for uncontested elections and resignation process for <50% support; term limits replaced by mandatory retirement at 72 to ensure refreshment .
  • Overboarding limits: max four public boards; pre-clearance to avoid conflicts; consistent with related person/COI policies .

Fixed Compensation

Performance Compensation

• Structure: Non-employee director equity is time-based restricted stock units under the 2024 Omnibus Stock Plan; no director performance metrics disclosed; no stock options granted or repriced .
• Current RSU position: Unvested RSUs 1,141 as of 12/31/2024 .

Other Directorships & Interlocks

Expertise & Qualifications

• Financial reporting and audit: Designated Audit Committee financial expert; former PwC global insurance assurance leader; CPA (Wisconsin) .
• Risk and cybersecurity: Chairs Risk Committee; CERT cybersecurity oversight credential; ERM and reinsurance program oversight .
• Insurance and investments: Decades advising insurers; investment governance roles (foundations/committees) .
• Board governance credentials: NACD Directorship Certified .

Equity Ownership

Insider trades (Form 4 – awards)

Governance Assessment

• Strengths for investor confidence:
  • Financial oversight depth: Scheid’s Audit Committee financial expert designation and PwC insurance assurance leadership bolster financial reporting rigor and audit quality .
  • ERM and cyber resilience: As Risk Committee Chair overseeing reinsurance structure, catastrophe, climate, cybersecurity/AI/data privacy, his governance mitigates operational and emerging risks; two directors hold cybersecurity credentials, including Scheid .
  • Alignment: Material personal share ownership with no pledging; annual RSU grants; director ownership guidelines (5× retainer) with compliance on track; retainer partially taken in stock signals alignment .
  • Independence and attendance: Board independence determinations and high meeting attendance; executive sessions held without management .
• Potential risk indicators/RED FLAGS:
  • Related-party exposure: None disclosed involving Scheid; Audit Committee pre-approves and polices related-person transactions; low risk given policy framework .
  • Overboarding: Governance guidelines limit boards; Scheid’s disclosed external roles do not include current public company boards, reducing time/attention risk .
  • Compensation anomalies: Director pay structure is standard (cash retainer + RSUs + chair fees); no option grants or repricings; no hedging/pledging permitted; clawback policy applies to executives (context) .

Overall, Scheid’s audit/risk expertise, independence, and ownership alignment constitute positive governance signals; absence of pledging, related-party conflicts, or overboarding supports board effectiveness for SIGI .