TORCHMARK CORPORATION (NYSE:TMK) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

e) On February 21, 2017, to the Companys 2011 Incentive Plan (the
2011 Plan), the independent numbers of the Board of Directors
(Board) of the Company (in the case of the Co-Chairmen and Chief
Executive Officers) or the Compensation Committee (in the case of
the other named executive officers (NEOs)) granted non-qualified
stock options with a seven year term and an exercise price per
share equal to the NYSE market closing price of Company common
stock on February 21, 2017 ($77.26) to the following executives:
Gary L. Coleman, 150,000 shares; Larry M. Hutchison, 150,000
shares; Frank M. Svoboda, 62,000 shares; Roger C. Smith, 115,000
shares; W. Michael Pressley, 65,000 shares; and Vern D. Herbel,
40,000 shares. On February 21, 2017, the following executives
were also issued performance share unit awards (shown at target
level) by the independent members of the Board or the
Compensation Committee for the three year performance period
commencing January 1, 2017 through December 31, 2019 to be earned
and issued (from 0% if below threshold to 200% at maximum) based
upon the extent the Company achieves performance goals set by the
Compensation Committee (40% weight to three year growth in
earnings per share (ranging from 2% to 10%), 30% weight to three
year growth in underwriting income (ranging from -1% to 5.5%),
and 30% weight to average return on equity over the three year
period (ranging from 12.7% to 14.7%)): Gary L. Coleman, 35,000
shares; Larry M. Hutchison, 35,000 shares; Frank M. Svoboda,
11,000 shares; W. Michael Pressley, 10,000 shares and Vern D.
Herbel, 7,000 shares. The independent members of the Board or the
Compensation Committee also fixed 2017 annual cash bonus targets
for Messrs. Coleman, Hutchison, Svoboda, Herbel, and Pressley as
follows: 40% weight to growth in earnings per share (ranging from
2% to 6.5% with a lower band of 2.4% and a higher band of 5.6%);
30% weight to growth in underwriting income (ranging from -2% to
2.5% with a lower band of -1.5% and a higher band of 1.5%) and
30% weight to return on equity (ranging from 13.3% to 14.5% with
a lower band of 13.6% and a higher band of 14.2%). 2017 salaries
were set as follows: $900,000 for each of Gary L. Coleman and
Larry M. Hutchison; $520,000 for Frank M. Svoboda; $520,000 for
Vern D. Herbel; $600,000 for Roger C. Smith; and $520,000 for W.
Michael Pressley.

Item 9.01 Financial Statement and Exhibits.

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