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First American Financial Corp

For the period ended May 21, 2024. Filed Apr 1, 2024.

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About this filing

What shareholders are asked to vote on at a company's meeting. It is where to find what directors and top executives are paid, and who owns the most shares.

May 21, 2024 · Filed Apr 1, 2024

FAF$67.01-1.7%Stored close · as of Nov 6, 2026
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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

SCHEDULE 14A

Proxy Statement Pursuant to Section 14(a) of the

Securities Exchange Act of 1934 (Amendment No._ )

Filed by the Registrant

Filed by a party other than the Registrant 

Check the appropriate box:

 Preliminary Proxy Statement

 Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))

 Definitive Proxy Statement

 Definitive Additional Materials

 Soliciting Material under §240.14a-12

FIRST AMERICAN FINANCIAL

CORPORATION

(Name of Registrant as Specified In Its Charter)

(Name of Person(s) Filing Proxy Statement, if other than the Registrant)

Payment of Filing Fee (Check all boxes that apply):

 No fee required

 Fee paid previously with preliminary materials.

 Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11

2024 Notice of annual meeting and proxy statement first American financial Corporation

2023 notice of annual meeting and proxy statement

First American Financial Corporation

Dear Fellow Stockholder,

You are cordially invited to attend our annual meeting of stockholders at 1:00 PM Pacific time, on May 21, 2024. This year’s annual meeting of stockholders will be held in a virtual-only meeting format online via live webcast using a unique link to be provided by email after registering atregister.proxypush.com/FAF.

With this letter, we are including the notice for the annual meeting, the proxy statement and the proxy card. We are also including a copy of our 2023 annual report. More information regarding how to vote, participate in, and submit questions for the annual meeting can be found in the proxy statement.

We have made arrangements for you to vote your proxy over the Internet or by telephone, as well as by mail with the traditional proxy card. The proxy card contains instructions on these methods of voting.

Your vote is important. Whether or not you plan on participating in the virtual annual meeting on May 21, 2024, we hope you will vote as soon as possible.

Thank you for your continued support of First American Financial Corporation.

Dennis J. GilmoreChairman of the BoardKenneth D. DeGiorgioChief Executive Officer
First American Financial CorporationNOTICE OF ANNUAL MEETING OF STOCKHOLDERS
Date · Matters to be voted on
May 21, 2024 · Proposal · Board Recommendation
Time
1Election of the three persons named in the accompanying proxy statement to serve as Class II directors on our board of directors for a three-year term expiring on the date of the 2027 annual meeting of stockholders.Vote For
1:00 PM Pacific Time
Website
2Approval, on an advisory basis, of our Company’s executive compensation.Vote For
register.proxypush.com/FAF
3Ratification of the selection of PricewaterhouseCoopers LLP as our Company’s independent registered public accounting firm for the fiscal year ending December 31, 2024.Vote For
Who can voteOnly stockholders of record at the close of business on March 25, 2024 are entitled to notice of the meeting and an opportunity to vote.
At the meeting, we will also transact such other business as may properly come before the meeting or any postponements or adjournments thereof.

This year’s meeting will be held in a virtual-only meeting format online via live webcast. To participate in the meeting, stockholders must go toregister.proxypush.com/FAF with the control number provided on their proxy card or voting instruction form and register by following the instructions. Upon completing registration, a stockholder will receive further instructions via email, including a unique link that will allow that stockholder access to the meeting. During the meeting, stockholders may vote and submit questions. For additional information on voting at or participating in the meeting online, including how to submit questions, please see “Questions and Answers” on page 74.

How to vote your shares before the meeting

Your vote is very important. Please submit your vote by proxy as soon as possible via the Internet, telephone or mail. Brokers are not permitted to vote on certain proposals and may not vote on any of the proposals unless you provide voting instructions. Voting your shares will help to ensure that your interests are represented at the meeting.

VIA THE INTERNETVisit the website listed on your proxy card, notice or voting instruction form.BY PHONECall the phone number listed on your proxy card or voting instruction form.YBY MAILComplete, sign, date and return your proxy card or voting instruction form in the envelope provided.

Important Notice Regarding the Availability of Proxy Materials for the Stockholder Meeting to Be Held on May 21, 2024: First American Financial Corporation’s notice of annual meeting and proxy statement, annual report and other proxy materials are available atwww.firstam.com/proxymaterials.

Meeting Contingencies

In the event of a technical malfunction or other situation that the meeting chair determines may affect the ability of the meeting to satisfy the requirements for a meeting of stockholders to be held by means of remote communication under the Delaware General Corporation Law, or that otherwise makes it advisable to adjourn the meeting, the chair of the meeting will convene the meeting at 2:00 P.M. Pacific Time on the date specified above and at our address, 1 First American Way, Santa Ana, CA 92707, solely for the purpose of adjourning the meeting to reconvene at a date, time and physical or virtual location announced by the meeting chair. Under either of the foregoing circumstances, we will post information regarding the announcement on the Investors page of our website at investors.firstam.com.

Lisa W. Cornehl

Senior Vice President, Chief Legal Officer and Secretary

Santa Ana, California

Page
PROXY STATEMENT1
I.PROPOSALS2
Item 1. Election of Class II Directors9
Item 2. Advisory Vote to Approve Executive Compensation10
Item 3. Ratification of Selection of Independent Auditor11
II.REQUIRED INFORMATION12
Security Ownership of Management12
Board and Committee Meetings13
Independence of Directors15
Board Leadership Structure; Meetings of Non-Management and Independent Directors16
Annual Performance Evaluation16
Risk Oversight16
Director Attendance at Annual Meetings18
Stockholder and Interested Party Communications with Directors18
Transactions and Litigation with Management and Others18
Executive Officers19
Executive Compensation21
Compensation Discussion and Analysis21
Introduction21
Executive Summary21
Performance Overview22
Pay Philosophy27
Executive Compensation Program32
Compensation Decision Process34
Pay Elements and Practices35
Impact of Tax and Accounting49
Compensation Committee Report50
Executive Compensation Tables51
Summary Compensation Table51
Grants of Plan-Based Awards52
Outstanding Equity Awards at Fiscal Year-End53
Option Exercises and Stock Vested54
Pension Benefits54
Nonqualified Deferred Compensation55

First American Financial Corporation 2024 Proxy Statement |i

Page
Potential Payments upon Termination or Change-in-Control56
Pay Ratio61
Pay Versus Performance62
Clawback Policy Actions67
Director Compensation68
Code of Ethics70
Corporate Governance Guidelines70
Compensation Committee Interlocks and Insider Participation70
Report of the Audit Committee70
Securities Authorized for Issuance under Equity Compensation Plans71
Relationship with Independent Registered Public Accounting Firm71
Principal Accountant Fees and Services71
Policy on Audit Committee Pre-approval of Audit and Permissible Nonaudit Services of Independent Auditor72
Stockholder Proposals, Director Nominations and Proxy Access72
Appraisal Rights72
III.CORPORATE RESPONSIBILITY AND SUSTAINABILITY73
IV.QUESTIONS AND ANSWERS74
V.OTHER INFORMATION81
APPENDIX A Non-GAAP Financial MeasuresA-1

First American Financial Corporation 2024 Proxy Statement |ii

First American Financial Corporation

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.