The Nominating & Governance Committee believes that it is important that the Board be comprised of individuals with a variety of experience and perspectives, including expertise in fields relevant to the Company’s business, experience from different professions, and a range of tenures.
The current Board of Directors represent a variety of perspectives, as well as an appropriate level of age and tenure, as further illustrated below.
Guiding Principles
Our Compensation Committee has established a set of core principles that underlie our executive compensation program.
These core principles provide guidance to the Committee and management in making decisions while administering the
program or when considering changes. These core principles include strong alignment between pay and performance,
incentive to drive shareholder value and market competitiveness.
Strong pay for performance alignment
We target compensation around the median of the competitive market, with executives earning more or less than median,
based on their experience, the performance of the Company and value delivered to Shareholders and their individual
performance. Our core executive compensation program includes base salary, an annual cash incentive plan (AIP), and
long-term equity awards (LTIP). Both AIP and LTIP are administered under the Shareholder-approved 2010 Comprehensive
Executive Compensation Plan, as amended and restated, March 9, 2021. Incentive awards are earned upon the achievement
of short-term and long-term business goals that are reviewed and approved by the Committee at the beginning of each
performance period. Performance goals are structured to reward business growth, profitability, and relative TSR,
balanced with productivity, risk and capital management.
Corporate Social Responsibility Oversight
The Horace Mann Board of Directors oversees the Company’s Corporate Social Responsibility strategy and priorities,
with various committees responsible for different aspects of the program:
- Nominating & Governance Committee provides general oversight, as well as direction on governance, environmental
risks and goals, and social risks and goals.
- Investment & Finance Committee oversees responsible investing strategy.
- Compensation Committee provides oversight and direction on human capital management strategy.
- Audit Committee oversees the Enterprise Risk Management function, including cybersecurity, as well as ethics
issues and policies, such as the Code of Conduct.
Through its committees, Horace Mann’s Board of Directors evaluates and oversees the Company’s overall Corporate
Social Responsibility reporting as well as development of vital policies and programs needed to achieve short and
long-term objectives. These policies and programs include, but are not limited to, the Company’s:
- Emphasis on human capital development, including inclusion initiatives and executive officer leadership
development and succession, which encompasses the identification of high-potential employees and candidates to
strengthen the talent pipeline;
- Statements of broad corporate policy related to human rights, employee health and safety, environment and climate
change, and ESG Investment Policy;
- Independent audits of information security policies and systems (a minimum of biennially) supported by
implementation of data protection standards and employee trainings on cybersecurity risks and procedures; and
- Reporting our Corporate Social Responsibility progress in-line with Task Force on Climate-related Financial
Disclosures (TCFD), Global Reporting Initiative (GRI), Sustainable Accounting Standards Board (SASB) and CDP Climate
Change Questionnaire models.
Horace Mann’s General Counsel is the strategic lead for our Corporate Social Responsibility program and briefs the
Board quarterly on the Company’s initiatives and progress. Additionally, management at least annually prepares and
presents an update to responsible Committees on its corporate social responsibility policies and programs, including a
discussion of targets, risks and objectives.