PFGPrincipal Financial Group

Financials · Health Insurance · Nasdaq

Employees: 19,700
Headquarters: Des Moines, IA
CEO: Deanna D. Strable-Soethout
Next results: around Feb 8, 2027

Deals between PFG and its directors, executives, owners of more than 5% or their families: a relative on the payroll, a plane the company charters from its CEO, a director's company that buys from it. SEC rules (Item 404) make the company list every such deal over $120,000 in its proxy statement. Below: what the proxy filed 2025-04-07 reports that the one filed 2024-04-08 did not, quoted as filed.

This proxy is more than 15 months old. No newer annual proxy statement of PFG is stored, so the deals below may not be current.

New this year

1 new

Paragraphs about a deal, a person or a relative with nothing like them in the proxy filed 2024-04-08.

Certain relationships and related party transactions

“Kristine Pitz, Director - Accounting, is the spouse of Joel M. Pitz, Interim Chief Financial Officer. Ms. Pitz has been an employee since 1995. In 2024, she received $225,033 in base salary and bonuses. Her compensation is commensurate with that of her peers. Her employment and compensation were approved by the Human Resources Committee.”
Read it in the proxy ↗

The whole section 6 paragraphs, proxy filed 2025-04-07

Certain relationships and related party transactions

“As of December 31, 2024, the Vanguard Group, Inc. managed funds holding in the aggregate approximately 12.64% of the Company’s common stock. During 2024, Principal paid the Vanguard Group $62,038.12 in fees for banking operations. Principal Life Insurance Company accounts held approximately $46,840,360 in privately placed debt issued by Vanguard. Principal Life Insurance Company and affiliates hold or manage accounts holding securities issued by Vanguard funds and common stock of Vanguard Group, Inc.”
Read it in the proxy ↗

Certain relationships and related party transactions

“As of December 31, 2024, BlackRock, Inc. (together with its affiliates “BlackRock”) and certain subsidiaries collectively owned or managed funds holding in the aggregate approximately 8.35% of the Company’s common stock. During 2024, Principal Global Investors, LLC paid BlackRock Financial Management $1,683,952.90 in sub-advisor management fees. In 2024, Principal affiliates paid BlackRock $2,914,895 for fees for consulting services and software. Principal Life Insurance Company and affiliates hold, or manage accounts holding, securities issued by BlackRock, Inc. BlackRock affiliates manage investment funds in which affiliates of the Company invest for their own or managed accounts.”
Read it in the proxy ↗

Certain relationships and related party transactions

“As of December 31, 2024, Nippon Life Insurance Company (“Nippon Life”) held approximately 8.02% of the Company’s common stock. Nippon Life is the parent company of Nippon Life Insurance Company of America (“NLICA”). Nippon Life, NLICA and Principal Life Insurance Company have had business relationships for more than 20 years. In 2024, Nippon Life and NLICA paid the following amounts to Principal Life Insurance Company or its affiliates: $155,044.10 for fees and investment income related to pension services and $5,487,968.34 for investment management and other service fees. The Company owns common stock of NLICA and received $196,710 in dividends in 2024. Principal Life Insurance Company general and separate accounts hold privately placed bonds and common stock issued by Nippon Life Americas, Inc. Nippon Life, directly or through affiliates, holds a minority interest in Post Advisory Group, LLC (“Post”), an affiliate of the Company. During 2024, Post paid an aggregate of $2,560,003 in dividends. The Company’s affiliates hold and manage accounts holding securities issued by Nippon Life, and Nippon Life invests in funds managed by the Company’s affiliates.”
Read it in the proxy ↗

Certain relationships and related party transactions

“Dwight Soethout, Vice President-Chief Actuary, is the spouse of Deanna D. Strable-Soethout, President and Chief Executive Officer. Mr. Soethout has been an employee since 1993. Mr. Soethout has indicated his intention to retire from the Company during 2025. He will stay on for a transition period until his successor is named and will assist in the transition. In 2024, Mr. Soethout received $792,996 in base salary, bonuses, and long-term incentive compensation. His compensation is commensurate with that of his peers. His employment and compensation were approved by the Human Resources Committee.”
Read it in the proxy ↗

Certain relationships and related party transactions

“Kristine Pitz, Director - Accounting, is the spouse of Joel M. Pitz, Interim Chief Financial Officer. Ms. Pitz has been an employee since 1995. In 2024, she received $225,033 in base salary and bonuses. Her compensation is commensurate with that of her peers. Her employment and compensation were approved by the Human Resources Committee.”
Read it in the proxy ↗

Certain relationships and related party transactions

“The Company maintains robust policies and procedures for the identification and monitoring of arrangements with related parties. The Nominating and Governance Committee or its Chair must approve or ratify all transactions with related parties that are not preapproved by or exempted from the Company’s Related Party Transaction Policy (the “Policy”).At each quarterly meeting, the Nominating and Governance Committee reviews transactions with related parties and ratifies any transaction that is subject to the Policy if it determines it is appropriate and may attach conditions to that approval. Transactions involving employment of a relative of an executive officer or Director must be approved by the Human Resources Committee. The Company’s Related Party Transaction Policy is publicly available at www.principal.com.”
Read it in the proxy ↗

Paragraphs are compared by their words, not read by AI: one counts as new when no paragraph last year shares half of its words, or when it names a person or company last year's section did not. A deal reported again with a new amount is not new. Always check the filing. Open the proxy ↗ · Last year's proxy ↗

Work on PFG in a spreadsheet: Excel workbook (a sheet per section, ten years by column, charts, links to the filings) · CSV. For a Google Sheet that stays up to date, paste =IMPORTDATA("https://tickdelta.com/company/PFG/export.csv") into a cell.