Chubb Ltd
For the period ended May 15, 2025. Filed Apr 1, 2025.
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May 15, 2025 · Filed Apr 1, 2025
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Contents
Summary Compensation Table
Summary Compensation Table
The following table sets forth NEO compensation for 2024, 2023 and 2022.
| | Name and Principal Position | | | Year | | | Salary | | | Bonus | | | StockAwards1 | | | OptionAwards2 | | | All OtherCompensation3 | | | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| | Evan G. GreenbergChairman and Chief Executive Officer | | | 2024 | | | $1,600,000 | | | $9,500,000 | | | $17,350,017 | | | — | | | $1,688,077 | | | $30,138,094 | |
| | 2023 | | | $1,550,000 | | | $9,000,000 | | | $15,650,006 | | | — | | | $1,461,311 | | | $27,661,317 | | |||
| | 2022 | | | $1,400,000 | | | $7,700,000 | | | $11,625,143 | | | $3,022,290 | | | $1,404,637 | | | $25,152,070 | | |||
| | Peter C. EnnsChief Financial Officer | | | 2024 | | | $900,000 | | | $1,893,000 | | | $3,125,103 | | | — | | | $320,469 | | | $6,238,572 | |
| | 2023 | | | $895,385 | | | $1,764,000 | | | $2,600,199 | | | — | | | $294,501 | | | $5,554,085 | | |||
| | 2022 | | | $880,000 | | | $1,528,000 | | | $1,800,027 | | | $467,971 | | | $252,138 | | | $4,928,136 | | |||
| | John W. KeoghPresident and Chief Operating Officer | | | 2024 | | | $1,200,000 | | | $3,769,000 | | | $7,850,091 | | | — | | | $612,272 | | | $13,431,363 | |
| | 2023 | | | $1,176,923 | | | $3,343,000 | | | $7,000,199 | | | — | | | $560,989 | | | $12,081,111 | | |||
| | 2022 | | | $1,088,462 | | | $3,084,000 | | | $5,250,013 | | | $1,364,909 | | | $525,036 | | | $11,312,420 | | |||
| | John J. Lupica Vice Chairman; Executive Chairman, North America Insurance | | | 2024 | | | $975,000 | | | $3,413,000 | | | $5,325,137 | | | — | | | $609,519 | | | $10,322,656 | |
| | 2023 | | | $969,231 | | | $3,100,000 | | | $5,000,142 | | | — | | | $561,533 | | | $9,630,906 | | |||
| | 2022 | | | $938,461 | | | $2,814,000 | | | $3,750,123 | | | $974,946 | | | $552,480 | | | $9,030,010 | | |||
| | Juan Luis OrtegaPresident, North America Insurance | | | 2024 | | | $881,731 | | | $1,875,000 | | | $1,875,368 | | | $714,045 | | | $618,127 | | | $5,964,271 | |
| | 2023 | | | $838,462 | | | $1,650,000 | | | $1,713,858 | | | $628,431 | | | $676,099 | | | $5,506,850 | | |||
This column discloses the aggregate grant date fair value of stock awards granted during the year. This column includes time-based restricted stock awards (RSUs/RSAs) as well as performance-based equity awards (PSUs/PSAs) for which the target amount is included (Target Award). For information on performance targets and vesting, see “Compensation Discussion & Analysis — How We Determine Total Direct Compensation Pay Mix — Equity Compensation.” Additional detail regarding stock awards made in 2024 is provided in the Grants of Plan-Based Awards table below in this section of the proxy statement, and for further information on stock-based compensation, see note 16 to our consolidated financial statements included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2024. Assuming the highest level of performance is achieved, which would result in Premium Award vesting of (i) 100% of the Target Award granted in 2024 and 2023 and (ii) 65% of the Target Award granted in 2022 (i.e., all Target Awards and Premium Awards), the aggregate grant date fair value of the stock awards set forth in the table above would be:
| | | | 2024 | | | 2023 | | | 2022 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Evan G. Greenberg | | | $34,700,034 | | | $31,300,012 | | | $19,181,516 | |
| Peter C. Enns | | | $6,250,206 | | | $5,200,398 | | | $2,677,550 | |
| John W. Keogh | | | $15,700,182 | | | $14,000,398 | | | $8,662,581 | |
| John J. Lupica | | | $10,650,274 | | | $10,000,284 | | | $6,187,643 | |
| Juan Luis Ortega | | | $3,281,830 | | | $2,999,251 | | | — | |
The Target Awards granted in 2021 met relevant performance criteria and cliff-vested in 2024 as scheduled. Target Awards granted to NEOs in 2021 earned a Premium Award of 100% (65% of the Target Awards granted) based on Cumulative Performance exceeding the 75th percentile and three-year TSR meeting or exceeding the 55th percentile. The table below shows the value realized on vesting of those Premium Awards at the respective three-year anniversary dates for the 2021, 2020 and 2019 grants. The Target Awards granted to NEOs in 2020 and 2019 earned a Premium Award of 100% (65% of the Target Award).
| | | | 2021 GrantVested in 2024 | | | 2020 GrantVested in 2023 | | | 2019 GrantVested in 2022 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Evan G. Greenberg | | | $10,568,977 | | | $6,541,216 | | | $6,962,921 | |
| Peter C. Enns | | | $996,479 | | | — | | | — | |
| John W. Keogh | | | $4,070,941 | | | $2,217,274 | | | $2,130,732 | |
| John J. Lupica | | | $2,763,758 | | | $1,368,439 | | | $1,723,575 | |
| Juan Luis Ortega | | | $822,188 | | | $465,297 | | | — | |
This column discloses the aggregate grant date fair value of stock option awards granted during the year. Option values are based on the grant date fair market value computed in accordance with FASB ASC Topic 718. For further information on stock options, see note 16 to our consolidated financial statements included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2024. Additional detail regarding stock option awards made in 2024 is provided in the Grants of Plan-Based Awards table below in this section of the proxy statement.
| | 96 | | | Chubb Limited 2025 Proxy Statement | |
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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.