Every material Form 8-K Principal Financial filed with the SEC in 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Principal Financial Group said Deanna Strable, its president and chief operating officer, will become chief executive officer effective January 7, 2025, succeeding Dan Houston, who has held the role since 2015. Houston will remain executive chairman, and Strable will join the Board in January 2025. The filing discloses pay terms for both executives and that Strable's spouse, a vice president and chief actuary, plans to retire.
Deanna Strable, 55, becomes CEO effective January 7, 2025, and will also serve as Class III Board member; she remains president.
Dan Houston retires as CEO but continues as executive chairman, with a $1,100,000 base salary and 375% target annual incentive.
Strable's CEO pay includes a $1,000,000 base salary, 300% target annual incentive and an $8,500,000 long-term incentive target in restricted stock units.
Dwight Soethout, Strable's spouse and vice president-chief actuary, plans to retire after a transition period; he received $738,787 in 2023 compensation.
Principal Financial Group reported a third quarter 2024 net loss attributable to the company of $220 million, or $0.95 per diluted share, driven by a loss from exited business. Non-GAAP operating earnings were $412 million, or $1.76 per diluted share, down 2% from a year earlier, while the company returned $416 million to shareholders and raised its fourth quarter 2024 dividend to $0.73 per share.
Net loss attributable to PFG of $220 million, or $0.95 per diluted share, versus net income of $1,246.2 million in 3Q23
Non-GAAP operating earnings of $412 million, or $1.76 per diluted share, versus $419.7 million in 3Q23; excluding significant variances, $480 million, or $2.05 per diluted share
Returned $416 million to shareholders, including $251 million of share repurchases; quarterly dividend raised to $0.73 per share, payable December 18, 2024
Excess and available capital of $1.6 billion; assets under management of $741 billion
Principal Financial Group's board appointed Deanna Strable, its chief financial officer since 2017, as president and chief operating officer on August 20, 2024, and named Joel Pitz, senior vice president and controller, as interim chief financial officer. Daniel Houston remains chief executive officer and chairman, and the filing does not state a permanent CFO or any change to Strable's responsibilities beyond the new title.
Strable's appointment as president and COO took effect August 20, 2024, with a base salary of $850,000 and a long-term incentive target of $5,100,000 in restricted stock units
Pitz, who joined the company in 1995, will serve as interim CFO and interim principal financial and accounting officer, with a $400,000 restricted stock unit award on a three-year cliff vesting period
Houston will continue as chief executive officer and chairman of the board
Principal Financial Group reported second quarter 2024 results on July 25, 2024. Non-GAAP operating earnings rose 3% to $386 million, or $1.63 per diluted share, while GAAP net income fell 9% to $353 million, or $1.49 per diluted share. The company also raised its third quarter common stock dividend to $0.72 per share and returned $415 million to shareholders in the quarter.
Non-GAAP operating earnings of $386 million, or $1.63 per diluted share, up from $375.8 million and $1.53 a year earlier
GAAP net income attributable to PFG of $353 million, or $1.49 per diluted share, versus $388.8 million a year earlier
Third quarter dividend raised to $0.72 per share, a 1 cent increase, payable September 27, 2024 to holders of record as of September 5, 2024
$415 million returned to shareholders in the quarter, including $250 million of share repurchases
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every Principal Financial filing is on SEC EDGAR ↗. 8-K briefs of other companies →