PRI Primerica Inc

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

DATE OF REPORT (Date of earliest event reported): September 23, 2024

Primerica, Inc.

(Exact Name of Registrant as Specified in Its Charter)

(770) 381-1000

(Registrant’s telephone number, including area code)

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

Securities registered pursuant to Section 12(b) of the Act:

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. 

Item 5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers.

(b) On September 23, 2024, Gregory C. Pitts, Executive Vice President and Chief Operating Officer of Primerica, Inc. (the “Company”), informed the Company’s Chief Executive Officer of Mr. Pitts’ intention to retire on or about April 1, 2025. Mr. Pitts has been with the Company since 1985 and has served as Chief Operating Officer for over 14 years. Mr. Pitts will serve as an executive officer until December 31, 2024, will remain employed by the Company until his retirement, will provide transition support and work on special executive projects from October 1, 2024 until his retirement, and will cease serving as the Company’s principal operating officer effective October 1, 2024. As of January 1, 2025, the Company’s executive officers will consist of its Chief Executive Officer, President and Chief Financial Officer.

(c) On September 24, 2024, the Board of Directors (the “Board”) of the Company appointed Robert H. Peterman, Jr., age 59, as the Company’s Executive Vice President and Chief Operating Officer, reporting to the Company’s Chief Executive Officer, effective as of October 1, 2024. Mr. Peterman will serve as the Company’s principal operating officer in such role, effective October 1, 2024.

Mr. Peterman has served as Executive Vice President and Chief Distribution Officer of the Company since March 2023, as Executive Vice President and Chief Marketing Officer from June 2018 to March 2023 and as President of Primerica Distribution from December 2013 to June 2018, where he was responsible for recruiting, licensing, licensing education, field compensation, field equity, and decision support. In 2005, he became Executive Vice President and was given responsibility for the Company’s Grow the Sales Force initiative. He also served as Chief Executive Officer of Primerica’s New York Life Insurance Company from January 2017 to June 2018. Mr. Peterman joined the Company in October 1984 and has served in many varying roles throughout the business.

There are no arrangements or understandings between Mr. Peterman and any other persons pursuant to which he was appointed the Company’s principal operating officer. Mr. Peterman has no related party transactions with the Company that are reportable under Item 404(a) of Regulation S-K and has no family relationships with any director, executive officer or nominee for director or executive officer of the Company.

A copy of a press release dated September 24, 2024 announcing Mr. Pitts’ retirement and Mr. Peterman’s appointment is attached hereto as Exhibit 99.1.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

EXHIBIT 99.1

Primerica Names Robert H. Peterman, Jr. as Successor to Chief Operating Officer

“For over four decades, Greg Pitts has provided high-impact leadership to Primerica. No task has been too difficult, and no responsibility has been too large for him to engage and lead. Greg is a role model to others and one of his greatest accomplishments has been developing a team of leaders who will continue his standard of excellence years into the future,” said Glenn Williams, Primerica CEO.

Williams continued, “Primerica is fortunate to have tremendous depth of leadership talent within our organization. This allows us to make a seamless transition by naming a long-tenured, respected leader with Mr. Peterman’s experience as our new Chief Operating Officer. Bobby also brings over 40 years of experience at Primerica to his expanded role. His leadership is felt throughout our organization today and he is considered a strategic thought leader by our sales force and our Home Office team.”

Most recently, Peterman served as the Executive Vice President and Chief Distribution Officer since March 2023 and previously served as Chief Marketing Officer from June 2018 to March 2023 and President of Primerica Distribution from December 2013 to June 2018. He oversaw recruiting, licensing, education, field compensation, and decision support. In 2005, he became Executive Vice President, leading the Company’s “Grow the Sales Force” initiative. He also served as CEO of Primerica’s New York life Insurance subsidiary from January 2017 to June 2018. Mr. Peterman joined the Company in October 1984 and has held various leadership roles throughout his tenure.

“I am proud to be part of Primerica, a company that places the well-being of our clients, field, and home office at the heart of everything we do”, said Mr. Peterman. “With many years of dedication and commitment, I have witnessed firsthand how our values nurture growth and build strong relationships. I look forward to an even brighter future as our team is united by our mission.”

About Primerica, Inc.

Primerica, Inc., headquartered in Duluth, GA, is a leading provider of financial products and services to middle-income households in North America. Independent licensed representatives educate Primerica clients about how to better prepare for a more secure financial future by assessing their needs and providing appropriate solutions through term life insurance, which we underwrite, and mutual funds, annuities and other financial products, which we distribute primarily on behalf of third parties. We insured approximately 5.7 million lives and had approximately 2.9 million client investment accounts on December 31, 2023. Primerica, through its insurance company subsidiaries, was the #2 issuer of Term Life insurance coverage in the United States and Canada in 2023. Primerica stock is included in the S&P MidCap 400 and the Russell 1000 stock indices and is traded on The New York Stock Exchange under the symbol “PRI”.

Public Relations
Susan Chana, 404-229-8302

susan.chana@primerica.com

Investor Relations
Nicole Russell, 470-564-6663

nicole.russell@primerica.com