AMERISAFE INC
For the period ended Dec 31, 2025. Filed Feb 27, 2026.
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FY2025 · Filed Feb 27, 2026
AMSF$19.89+1.3%Stored close · as of Nov 10, 2026
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Item 15. Exhibits and Financial Statement Schedules
The following consolidated financial statements and schedules are filed in Item 8 of Part II of this report:
| Page | |
|---|---|
| Financial Statements: | |
| Report of Independent Registered Public Accounting Firm (PCAOB ID: 42) | 52 |
| Consolidated Balance Sheets | 54 |
| Consolidated Statements of Income | 55 |
| Consolidated Statements of Comprehensive Income | 56 |
| Consolidated Statements of Changes in Shareholders’ Equity | 57 |
| Consolidated Statements of Cash Flows | 58 |
| Notes to Consolidated Financial Statements | 59 |
| Financial Statement Schedules: | |
| Schedule II. Condensed Financial Information of Registrant | 89 |
| Schedule VI. Supplemental Information Concerning Property-Casualty Insurance Operations | 92 |
| (Schedules I, III, IV and V are not applicable and have been omitted.) | |
EXHIBIT INDEX
| Exhibits: | |
|---|---|
| 3.1 | Amended and Restated Certificate of Formation of AMERISAFE, Inc. (incorporated by reference to Exhibit 3.1 to the Company's Quarterly Report on Form 10-Q filed August 6, 2010) |
| 3.2 | Amended and Restated Bylaws of the Company (incorporated by reference to Exhibit 3.1 to the Company's Quarterly Report on Form 10-Q filed October 30,2025) |
| 4.1 | Description of the Registrant’s Securities Registered (incorporated by reference to Exhibit 4.1 to the Company’s Annual Report on Form 10-K filed February 26, 2021) |
| 10.1* | Amended and Restated Employment Agreement, dated March 4, 2015 by and between the Company and G. Janelle Frost (incorporated by reference to Exhibit 10.1 to the Company's Current Report on Form 8-K filed March 5, 2015) |
| 10.2* | Employment Agreement, dated January 15, 2013 by and between the Company and Vincent J. Gagliano (incorporated by reference to Exhibit 10.6 to the Company's Annual Report on Form 10-K filed March 6, 2013) |
| 10.3* | Employment Agreement effective as of March 1, 2016 by and between the Company and Kathryn H. Shirley (incorporated by reference to Exhibit 10.1 to the Company's Quarterly Report on Form 10-Q filed April 29, 2016) |
| 10.4* | Employment Agreement effective as of July 24, 2023 by and between the Company and Raymond F. Wise (incorporated by reference to Exhibit 10.1 to the Company’s Quarterly Report on Form 10-Q filed on July 28, 2023) |
| 10.5* | AMERISAFE, Inc. 2012 Equity and Incentive Compensation Plan (incorporated by reference to Appendix A to the Company’s Proxy Statement on Schedule 14A filed April 27, 2017) |
| 10.6* | Form of 2012 Equity and Incentive Compensation Plan Long-Term Incentive Award Agreement (incorporated by reference to Exhibit 10.12 to the Company's Annual Report on Form 10-K filed February 27, 2015) |
| 10.7* | Form of 2012 Equity and Incentive Compensation Plan Restricted Stock Award Agreement (incorporated by reference to Exhibit 10.14 to the Company's Annual Report on Form 10-K filed February 28, 2014) |
| 10.8* | Form of Director and Officer Indemnification Agreement (incorporated by reference to Exhibit 10.1 to the Company's Current Report on Form 8-K filed August 6, 2010) |
| 10.9* | Form of Annual Incentive Compensation Agreement (incorporated by reference to Exhibit 10.13 to the Company's Annual Report on Form 10-K filed February 26, 2016) |
| 10.10* | Form of 2012 Plan Share Withholding Letter (incorporated by reference to Exhibit 10.1 to the Company's Quarterly Report on Form 10-Q filed October 28,2022) |
| 10.11* | AMERISAFE, Inc. 2022 Equity and Incentive Compensation Plan (incorporated by reference to Appendix A to the Company’s Proxy Statement on Schedule 14A filed April 29, 2022) |
| 10.12* | Form of 2022 Equity and Incentive Compensation Plan Restricted Share Units Award Agreement (incorporated by reference to Exhibit 10.2 to the Company’s Current Report on Form 8-K filed on August 25, 2022) |
| 10.13* | Form of 2022 Long-Term Incentive Plan Award Agreement (incorporated by reference to Exhibit 10.15 to the Company’s Annual Report on Form 10-K filed February 21, 2023) |
| 10.14* | Form of 2022 Equity and Incentive Plan Restricted Stock Award Agreement (incorporated by reference to Exhibit 10.16 to the Company's Annual Report on Form 10-K filed February 28, 2025) |
| 10.15* | Non-Employee Director Restricted Stock Plan, as amended and restated effective June 6, 2025 (incorporated by reference to Appendix A to the Company's Proxy Statement on Schedule 14A filed April 30, 2025) |
| 19.1 | AMERISAFE, Inc. Insider Trading Policy (incorporated by reference to Exhibit 19.1 to the Company's Annual Report on Form 10-K filed February 28, 2025) |
| 19.2 | AMERISAFE, Inc. Rule 10b5-1 Policy (incorporated by reference to Exhibit 19.2 to the Company's Annual Report on Form 10-K filed February 28, 2025) |
| 21.1 | Subsidiaries of the Company (incorporated by reference to Exhibit 21.1 to the Company's Annual Report on Form 10-K filed February 26, 2016) |
| 23.1 | Consent of Ernst & Young LLP |
| 24.1 | Powers of Attorney for our directors and certain executive officers |
| 31.1 | Certification of G. Janelle Frost filed pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 |
| 32.1 | Certification of G. Janelle Frost filed pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 |
| 97.1 | AMERISAFE, Inc. Clawback Policy (incorporated by reference to Exhibit 97.1 to the Company's Annual Report on Form 10-K filed February 23, 2024) |
| 101.INS | XBRL Instance Document – The instance document does not appear in the interactive data file because its XBRL tags are embedded within the Inline XBRL document |
| 101.SCH | Inline XBRL Taxonomy Extension Schema with Embedded Document |
| 104 | Cover Page Interactive Data File (formatted as inline XBRL and contained in Exhibit 101) |
| * Management contract, compensatory plan or arrangement | |
|---|---|
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