Globe Life Inc.

11/06/2025 | Press release | Distributed by Public on 11/06/2025 15:52

Management Change/Compensation (Form 8-K)

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On November 5, 2025, Globe Life Inc. (the "Company") entered into an Amendment One (the "Amendment") to the Globe Life Inc. Supplemental Executive Retirement Plan (the "SERP"). The Amendment:
•Revises the early retirement reduction factor for reducing the amount of benefit payable under the SERP when participants retire before the age of 65 as set forth below:
Age Factor
55 50 %
56 55 %
57 60 %
58 70 %
59 80 %
60 90 %
61 92 %
62 94 %
63 96 %
64 98 %
65 100 %
•Provides that if a participant in the SERP is in the Company's Executive Severance Plan (the "Severance Plan") and the participant's employment is terminated due to a "Qualifying Termination" during a "Change of Control Protection Period" as such terms are defined in the Severance Plan, the participant will be deemed vested and eligible for Retirement Income under the SERP, notwithstanding other provisions of the SERP.
•A participant's benefit in the case of a Qualifying Termination during a Change of Control Protection Period will be determined based on the following assumptions:
◦Participant's retirement age shall be deemed to the greater of their actual age of age 55;
◦Participant's Pension Plan benefit determined under Section 4.2(c) of the SERP shall be assumed to be vested, early retirement eligible and calculated as of the greater of participant's actual age or age 55; and
◦Participant shall receive no additional Credited (as defined in the Pension Plan) in either the calculation of the Pension Plan or SERP benefit.
The foregoing summary of the terms of the Amendment does not purport to be complete and is subject to, and qualified in its entirety by, the full text of the Amendment, which is filed as Exhibit 10.1 hereto and incorporated herein by reference.
Globe Life Inc. published this content on November 06, 2025, and is solely responsible for the information contained herein. Distributed via Edgar on November 06, 2025 at 21:52 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]