Lisa Rojas Bacus
SELECTIVE INSURANCE GROUPAbout Lisa Rojas Bacus
Independent director of Selective Insurance Group since 2020; age 61. Former EVP & Global CMO at Cigna (2013–2019), EVP & Chief Marketer at American Family Insurance (2008–2013), and senior marketing roles at Ford (1986–2008). Education: B.S. Northern Arizona University; MBA Duke; ESG Leadership Certification (Diligent Institute); member of Latino Corporate Directors Association and Prospanica . Board independence affirmed by SIGI; all directors except the CEO are independent under Nasdaq rules .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Cigna Corporation | EVP, Global Chief Marketing Officer | 2013–2019 | Led global marketing; strategic customer experience; digital/analytics |
| American Family Insurance | EVP & Chief Marketer | 2008–2013 | P&C marketing; independent agent relationships |
| Ford Motor Company | Executive Director, Global Marketing Strategy & senior roles | 1986–2008 | Global marketing; brand strategy |
External Roles
| Organization | Type | Role | Since | Committees/Notes |
|---|---|---|---|---|
| Teradata Corporation (NYSE: TDC) | Public | Director | 2015 | — |
| Douglas Dynamics (NYSE: PLOW) | Public | Director | 2020 | Audit Committee member |
| Culver’s Franchising System, Inc. | Private | Director | 2010 | — |
| PetSmart Charities Inc. | Non-profit | Director | 2019 | — |
Board Governance
- SIGI Board committees: Bacus serves on Compensation & Human Capital Committee (CHCC) and Corporate Governance & Nominating Committee (CGNC) .
- 2024 committee cadence: CHCC met 6 times; CGNC met 4 times .
- Independence: Bacus is independent; all members of Audit, CGNC, and CHCC are independent .
- Attendance: Board held 7 meetings in 2024; average attendance >98%; all directors attended ≥75% of their meetings; all directors attended the 2024 annual meeting .
- Governance scope: CGNC oversees corporate governance policies, board evaluations, director nominations, and sustainability oversight; CHCC oversees executive and director pay, succession, recoupment policies, and hedging/pledging policies .
Fixed Compensation (Director)
| Component | Amount ($) | Period/Notes |
|---|---|---|
| Annual cash retainer | 100,000 | 2024 |
| Committee member fees | 0 | No fees for first two committees; third committee would be $8,000 |
| Chair fees | 0 | Not a chair; chairs range $25,000–$35,000 depending on committee |
| Meeting fees | 0 | None |
Performance Compensation (Director Equity)
| Metric | 2024 | Notes |
|---|---|---|
| Annual RSU grant (grant-date fair value) | 110,004 | RSUs under 2024 Omnibus Stock Plan; unvested RSUs at 12/31/2024: 1,141 units |
| Director retainer stock election | No election | Bacus did not elect to receive retainer in stock in 2024 |
No performance metrics are tied to director equity grants; they are time-based RSUs under the director program .
Other Directorships & Interlocks
- Public boards: Teradata (technology/data analytics) and Douglas Dynamics (industrial vehicle attachments). No disclosed related-party transactions or conflicts involving Bacus at SIGI; Board’s independence review disclosed immaterial relationships for other directors, none for Bacus .
- Overboarding policy: SIGI limits directors to ≤4 public boards (including SIGI); Bacus appears within policy (SIGI + two public boards) .
Expertise & Qualifications
- P&C insurance marketing, agency distribution, digital/analytics, customer experience; strategic thinker with independent agent relationship expertise contributing to Selective’s strategies .
Equity Ownership
| Item | Value | Date/Source |
|---|---|---|
| Beneficial ownership (shares) | 4,485 | As of Feb 20, 2025; less than 1% |
| Unvested director RSUs | 1,141 | As of Dec 31, 2024 |
| Shares pledged as collateral | 0 | No directors have SIGI shares pledged; none held in margin accounts |
| Ownership guideline | 5x annual retainer | Directors must meet within 5 years; all directors have met or are on track |
Insider Form 4 activity (alignment signal):
| Metric | 2024 | 2025 |
|---|---|---|
| RSUs awarded (shares) | 1,141 | 1,666 |
| Post-transaction ownership (shares) | 4,472.4673 | 6,156.6532 |
| Filing/URLs | 2024-05-06: https://www.sec.gov/Archives/edgar/data/230557/000122520824005661/0001225208-24-005661-index.htm | 2025-05-05: https://www.sec.gov/Archives/edgar/data/230557/000122520825004652/0001225208-25-004652-index.htm |
Governance Assessment
- Board effectiveness: Bacus’ dual committee roles (CHCC and CGNC) place her directly in pay oversight, succession/human capital, and governance/sustainability—key areas for investor confidence .
- Independence and attendance: Strong governance baseline—independent classification and high attendance culture; no related-party concerns disclosed for Bacus .
- Compensation alignment: Director pay mix balanced (cash $100k, equity ~$110k); stock ownership guidelines (5x retainer) and prohibition on hedging support alignment; clawback policy in place (applies to incentive compensation for executives; board oversees recoupment) .
- Potential conflicts/red flags: None disclosed for Bacus. SIGI’s related party disclosures do not identify transactions involving Bacus; hedging prohibited; no pledging; overboarding within limits .
- Signals: SIGI’s 2024 say‑on‑pay support >99% indicates positive shareholder sentiment toward compensation governance; Bacus serves on CHCC, which reviews say‑on‑pay outcomes .
2025 Board changes: A director resignation (Coaxum) reduced Board to 11; later appointment of Julie Parsons increased to 12—committee compositions may refresh; Bacus remains on CHCC/CGNC, maintaining governance continuity .
Overall: Bacus brings deep customer/brand and P&C distribution expertise with no disclosed conflicts, active involvement in compensation and governance oversight, and growing equity stake via RSUs—supportive of board effectiveness and investor alignment .