Ryan M. Swed
STEWART INFORMATION SERVICESAbout Ryan M. Swed
Ryan M. Swed, 43, is Group President responsible for Stewart’s Direct Operations and all business channels within Stewart’s distributed Direct locations (appointed 2025), also overseeing the Company’s Relocation Services group . He joined Stewart in August 2020 (Group SVP, Southwest U.S. Direct Operations), later serving as Head of National Commercial Services (2021–2023) and Head of Direct Operations (2023–2024) . Education: B.A. (Political Science — Public Law), UC San Diego; J.D., Chapman University Fowler School of Law . Company performance during his leadership window improved in 2024: Corporate Pre-Tax Margin was 4.41% vs a 3.75–4.25% target range, Net Revenue was $1,612.7M, and a $100 shareholder investment was worth $193.81 at year-end, up from $163.93 in 2023 .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Stewart Information Services Corp. | Group President – Direct Operations and distributed Direct locations; oversees Relocation Services | 2025–present | Accountability for Direct Operations and Relocation Services; enterprise channel leadership |
| Stewart Information Services Corp. | Head of Direct Operations | 2023–2024 | Led company’s largest business operation; key in succession planning for Direct Ops |
| Stewart Information Services Corp. | Head of National Commercial Services | 2021–2023 | Led NCS business; expanded leadership breadth prior to Direct Ops role |
| Stewart Information Services Corp. | Group SVP, Southwest U.S. Direct Operations | 2020–2023 | Regional P&L and operations leadership upon joining Stewart in Aug 2020 |
| First American Financial | Managing Director, Midwest U.S. Operations | 2010–2020 | Led multi-state operations; industry experience prior to Stewart |
External Roles
- No current public-company directorships or committee roles disclosed in the latest proxy biography .
Fixed Compensation
Not individually disclosed for Mr. Swed in the latest proxy. Stewart’s framework includes base salary and an annual Short-Term Incentive Plan (STIP) for NEOs and executive officers, with targets calibrated by responsibility and market data .
Performance Compensation
Stewart’s executive framework (applies to NEOs and executive officers) emphasizes corporate Pre-Tax Margin and Net Revenue within the STIP and a balanced mix of performance-based and time-based RSUs in the LTIP .
2024 STIP Framework and Outcomes (Corporate)
| Metric | Weighting (CEO/CFO/Legal) | Weighting (Group Presidents: Lessack/Rable) | Target | Actual (FY 2024) | Payout (% of Target) |
|---|---|---|---|---|---|
| Corporate Pre-Tax Margin | 60% | 40% | 3.75–4.25% | 4.41% | 105.3% |
| Corporate Net Revenue | 20% | 10% | $1,500M | $1,612.7M | 150.1% |
| Individual Qualitative | 20% | 50% | Capped at higher of financial metrics or target | Company-wide qualitative outcomes; capped as described | See weighting caps (e.g., 23.3% or 57.1% weighted) |
- Weighted financial payout for CEO/CFO/Legal cohort: 93.2% (116.5% x 80%) .
- Weighted financial payout for Group Presidents cohort: 57.1% (114.3% x 50%) .
- Short-term incentive target percentages for 2024 ranged from 65%–150% of base across NEOs; CEO’s target increased to 150% in 2024, indicating elevated pay-for-performance emphasis at the top team .
Long-Term Incentive Design (RSUs)
- Time-Based RSUs: vest in equal annual installments over 3 years; realized value tied to stock price .
- Performance-Based RSUs: earn-or-forfeit at 100% of target; performance restriction requires achieving Adjusted Pre-Tax Margin thresholds in 3 of 7 quarters; time-based vesting on the third anniversary of grant .
- 2024 Performance RSUs: Adjusted Pre-Tax Margin target set at 4.5%; Committee certified performance restriction met on Feb 26, 2025 (units vest on third anniversary if time condition met) .
Equity Ownership & Alignment
| Policy/Practice | Detail |
|---|---|
| Stock Ownership Guidelines | CEO: 5x base salary; other NEOs: 2x; five years to achieve from becoming executive; committee monitors annually . |
| Hedging/Pledging Restrictions | Prohibits hedging, short sales, margin accounts, pledging Company securities; pre-clearance, blackout periods, and reporting required under insider policy . |
| Clawback Policy | Amended Oct 2, 2023 to comply with NYSE standards; recovery of erroneously awarded incentive-based compensation upon accounting restatement, regardless of fault, unless recovery impracticable . |
| Equity Grant Timing | Predetermined annual cycle in Q1; policy against granting when MNPI exists; 2024 executive compensation consisted solely of RSUs (no options granted in 2024) . |
Beneficial ownership and pledged-share data are not disclosed for Mr. Swed; NEO beneficial ownership appears separately and excludes non-NEO executive officers .
Employment Terms
- Executive employment agreements (NEOs): automatic annual renewals; confidentiality, non-competition, and non-solicitation covenants; double-trigger acceleration for equity upon change in control; severance structured around multiples of base and incentive targets for NEOs .
- Change-in-control mechanics: equity accelerates at target only with both a change-in-control and qualifying termination; options accelerate and fully vest under CIC with qualifying termination .
- Health, welfare, retirement programs: executives participate on similar terms to employees; deferred compensation plan available to key personnel .
Investment Implications
- Pay-for-performance alignment is strong: corporate incentives are tied to Pre-Tax Margin and Net Revenue—both directly influenced by operational execution in Direct Operations, the area Mr. Swed leads; 2024 results exceeded targets (Pre-Tax Margin 4.41%; Net Revenue $1,612.7M), supporting incentive payouts above target .
- Retention risk appears moderated by LTIP structure: performance RSUs require multi-quarter margin attainment and three-year time-based vesting, which can discourage short-term turnover and promote sustained execution; anti-hedging/pledging policies reduce misalignment risk and potential forced selling .
- Transparency gap: Mr. Swed is an executive officer but not a named executive officer, so individual compensation, ownership levels, and severance terms are not disclosed—investors should monitor future proxies/8-Ks for any changes in title, NEO status, or compensatory arrangements .
- Macro sensitivity: widened STIP performance ranges and the comparator group approach acknowledge real estate market volatility; execution in Direct Ops remains a critical lever for margin and revenue outcomes, making leadership continuity and operational discipline under Mr. Swed an important driver for sustained TSR improvement (2024 TSR value of $100 rose to 193.81 from 163.93 in 2023) .