United Fire Group approves change-in-control severance agreement for CHRO Steven Hernandez
United Fire Group's board approved a standard Change in Control Severance Agreement with SVP and Chief Human Resources Officer Steven D. Hernandez, one of its named executive officers, effective August 28, 2025. The agreement sets severance and benefit terms that apply if a change in control is followed by termination without cause, which matters to shareholders as a compensation arrangement tied to a possible future ownership change.
Key points
- Board approved the agreement at a meeting held August 15, 2025; effective August 28, 2025
- Severance equal to 1.5 times highest annual base salary plus target annual incentive compensation, triggered by change in control and termination without cause
- Insurance benefits continue for 18 months; long-term incentive awards fully vest with performance measures deemed met at target; 18-month non-compete
The filing
Written by AI on Nov 8, 2026, 6:59 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on August 29, 2025.
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.