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Douglas D. Dirks is a notable figure in the insurance industry, having spent years driving growth and performance at Employers Holdings, Inc. He has a Bachelor's degree in Business Administration and was the CEO of Employers Holdings from 2018 until...

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Douglas D. Dirks

CEO of Employers Holdings

Education

B.A. and M.B.A. degrees from the University of Texas and a J.D. degree from the University of South Dakota

Field of Expertise

Finance & Banking - Finance

Sector of Economy

Financial Services

CEO of Employers Holdings for

20 years 0 months (Apr 2005 - Present)

Previous Experience

Chief Executive Officer of EICN since December 1999, ECIC since May 2002, EPIC since November 2008, and EAC since November 2008

Holdings

See how much did Douglas D. Dirks make over time.

Throughout his tenure at Employers Holdings, Douglas Dirks witnessed significant fluctuations in his holdings. Notably, he entered 2020 with considerable wealth tied to his performance-based structure, reflecting a strategic focus on cash compensation rather than stock. By 2021, however, his...

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Total Stock Sold

$16.10M

EIG

$16.10M

478,534 EIG shares

What if they kept their stock?

If Douglas D. Dirks didn't sell their stock, today they would have:
Extra EIG478,534 shares worth $17.45M.
This is 8.35% and $1.35M more than what they got when they sold the stock.

Insider Trading

See recent insider trades of Douglas D. Dirks.

EIG

51,240 shares

EIG

Apr 1, 2021

Received

EIG

$1.25M

EIG at $33.56/share

Feb 23, 2021

Sale

EIG

52,920 shares

EIG

Jan 22, 2021

Received

EIG

$175.56K

EIG at $29.26/share

May 5, 2020

Purchase

EIG

$557.65K

EIG at $29.35/share

May 1, 2020

Purchase

EIG

14,320 shares

EIG

Mar 10, 2020

Received

EIG

$1.54M

EIG at $42.47/share

Feb 24, 2020

Sale

EIG

55,240 shares

EIG

Jan 24, 2020

Received

EIG

13,800 shares

EIG

Mar 6, 2019

Received

EIG

57,240 shares

EIG

Jan 22, 2019

Received

Compensation History

See how much did Douglas D. Dirks make over time.

Douglas Dirks' compensation journey at Employers Holdings is quite telling of his emphasis on performance. In 2021, his total compensation was $265,375, which came after his retirement on April 1. Prior to that in 2020, he earned nearly $3.7 million, showcasing a peak in his earnings during a successful financial year with substantial variable pay. His 2019 compensation was even higher at almost $4.8 million, revealing how his bonuses were closely tied to the company’s performance metrics. Over the years, Dirks prioritized cash bonuses over stocks, a strategy that aligned his pay directly with the company's results. His compensation strategy revolved around performance metrics, specifically the adjusted GAAP ratios, which reflect the effectiveness of his leadership. This performance-based compensation philosophy played a crucial role in motivating not just himself, but also the entire company to reach its goals.

Year

2021

Total Compensation

$1.13M

Salary

$441.97K

Board Justification

The compensation philosophy emphasizes performance-based compensation linked to the company's financial performance and aligns executive interests with those of stockholders.

Bonus

$265.38K

Board Justification

The bonus awarded to Mr. Dirks reflects an annual incentive cash bonus prorated for the period during which he was employed with the Company, as he retired on April 1, 2021.

Other

$423.86K

Board Justification

Includes the following payments: car allowance, perquisites, 401(k) matching contributions, cash dividends paid, excess accrued vacation, life insurance premiums, and personal benefits.

Restricted Stock

$0.00(0 RSU)

Board Justification

Mr. Dirks did not receive any stock grants in 2021 as he received additional vesting acceleration of outstanding RSU and PSU awards upon his retirement on April 1, 2021.

Performance Metrics

The performance metrics for the CEO's compensation in 2021 were based on the company's Adjusted GAAP Calendar Year Combined Ratio.