Kemper Corporation (NYSE:KMPR) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02.
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
At a meeting on February 6, 2018, the Compensation Committee (“Compensation Committee”) of the Board of Directors of Kemper Corporation (“Company”) approved annual incentive compensation awards to the Company’s Executive Performance Plan and annual performance-based cash incentive program (“Annual Incentive Program”). At its meeting, the Compensation Committee approved cash incentive awards under the Annual Incentive Program for Messrs. McKinney and Roeske, two of the “named executive officers” (“NEOs”) in the Proxy Statement for the Company’s 2017 Annual Meeting of Shareholders (“Proxy Statement”)who were not participants in the Executive Performance Plan. The participants in the Executive Performance Plan were the Company’s “Covered Employees,” as defined in Section 162(m) of the Internal Revenue Code of 1986, as in effect for the applicable year. The definition of Covered Employees does not include individuals who are NEOs because they served asChief Financial Officer for the Company. As a result, Messrs. McKinney and Roeske were not Covered Employees or participants in the Executive Performance Plan. For Mr. Roeske, the amount of cash incentive approved for 2017 was materially consistent with the amount of his 2016 award disclosed in the Company's Proxy Statement. For Mr. McKinney, who did not receive a cash incentive award for 2016 because he did not join the Company until November 2016, the amount of cash incentive approved for 2017 was $750,000.
About Kemper Corporation (NYSE:KMPR) Kemper Corporation is a diversified insurance holding company. The Company, through the subsidiaries, provides automobile, homeowners, life, health and other insurance products to individuals and businesses. The Company, through its subsidiaries, is engaged in the property and casualty insurance and life and health insurance businesses. The Company operates in two segments: Property & Casualty Insurance, and Life & Health Insurance. Its Property & Casualty Insurance segment’s products include personal automobile insurance, both standard and non-standard risks, homeowners insurance, other personal insurance and commercial automobile insurance. Its Property & Casualty Insurance segment distributes its products through independent agents and brokers. Its Life & Health Insurance segment’s products include individual life, accident, health and property insurance. Its Kemper Home Service companies focus on providing individual life and supplemental accident and health insurance products.