Everest Group (NYSE: EG) to pay $7.25M in General Counsel exit deal

Filing Impact

(Moderate)

Filing Sentiment

(Neutral)

Form Type

8-K

Rhea-AI Filing Summary

Everest Group, Ltd. disclosed a separation agreement with former Executive Vice President and General Counsel Ricardo Anzaldua. The March 13, 2026 Agreement provides a $7.25 million payment covering accrued amounts, other compensation and benefits, forfeited equity awards, and up to nine months of post-employment advisory services.

The company will waive Anzaldua’s non-compete covenant after the advisory period ends, while he extends his employee non-solicit covenant for six months following his employment end date. In return, he grants a full release of claims. Everest plans to file the full Agreement as an exhibit to a future Form 10-Q.

8-K Event Classification

Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers

1 item

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers Governance

Key personnel changes including departures, elections, or appointments of directors and executive officers.

Understanding 8-K Material Events →

03/16/2026 - 04:19 PM

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)

March 16, 2026 (March 13, 2026)

Everest Group, Ltd.

(Exact name of registrant as specified in its charter)


Bermuda	1-15731	98-0365432

(State or other jurisdiction	(Commission	(IRS Employer
of incorporation)	File Number)	Identification No.)

Seon Place – 4th Floor 141 Front Street PO Box HM 845 Hamilton, Bermuda		HM 19

(Address of principal executive offices)		(Zip Code)

Registrant’s telephone number, including area code 441-295-0006


Not Applicable

(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 (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

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

Class

Trading Symbol(s)

Name of Exchange where registered

Common Shares, $0.01 par value

New York Stock Exchange

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 12(a) of the Exchange Act. ☐

ITEM 5.02 DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS.

In connection with its previously announced General Counsel transition, Everest Group, Ltd. (the “Company”) entered into a Separation, Transition Services and General Release Agreement (the “Agreement”), dated March 13, 2026, with its former Executive Vice President and General Counsel, Ricardo Anzaldua. Under the Agreement, in recognition of his service to the Company, assistance as a special advisor to the Company during an extended transition period, agreement to act as an advisor to the Company for a further additional period of time, and in exchange for a full release of all contractual entitlements, claims, rights, and other undertakings with respect to the Company, the Company agreed to pay $7.25 million in respect of certain accrued payments and other compensation and benefits under Mr. Anzaldua’s employment agreement, forfeiture of previously granted equity awards and Mr. Anzaldua’s agreement to provide certain advisory services to the Company for up to nine months after the date his employment ends. In addition, the Company agreed to waive Mr. Anzaldua’s non-compete covenant upon the termination of the advisory services, and Mr. Anzaldua agreed to an extension of his employee non-solicit covenant for an additional six months following the end of his employment.

The foregoing summary of the Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Agreement, which the Company will file as an exhibit to a subsequent periodic report on Form 10-Q to be filed with the U.S. Securities and Exchange Commission.

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.


		EVEREST GROUP, LTD.

	By:	/S/ ANTHONY VIDOVICH
		Anthony Vidovich Executive Vice President and General Counsel

Dated: March 16, 2026

Source: View Original Filing on SEC EDGAR

FAQ

What did Everest Group (EG) report in its March 2026 Form 8-K?

Everest Group reported a separation and transition agreement with former Executive Vice President and General Counsel Ricardo Anzaldua. The filing details a $7.25 million payment, advisory services arrangements, and changes to his non-compete and non-solicit covenants, plus a full release of claims.

How much will Everest Group (EG) pay former General Counsel Ricardo Anzaldua?

Everest Group agreed to pay Ricardo Anzaldua $7.25 million. This amount covers certain accrued payments, other compensation and benefits under his employment agreement, and consideration for forfeited equity awards and up to nine months of post-employment advisory services to the company.

What advisory role will Ricardo Anzaldua have with Everest Group (EG)?

Ricardo Anzaldua will serve as a special advisor during an extended transition period and then as an advisor for up to nine months after his employment ends. These advisory services form part of the consideration for the $7.25 million payment and related arrangements.

How does the Everest Group (EG) agreement affect Ricardo Anzaldua’s non-compete and non-solicit?

Everest Group agreed to waive Ricardo Anzaldua’s non-compete covenant once his advisory services conclude. In exchange, he agreed to extend his employee non-solicit covenant for an additional six months following the end of his employment with the company.

Will investors be able to review the full Everest Group (EG) separation agreement?

Yes. Everest Group stated it will file the full Separation, Transition Services and General Release Agreement as an exhibit to a subsequent periodic report on Form 10-Q, allowing investors to review the complete terms once that filing is made.

What legal rights does Ricardo Anzaldua release in the Everest Group (EG) agreement?

Under the agreement, Ricardo Anzaldua provides a full release of contractual entitlements, claims, rights, and other undertakings with respect to Everest Group. This release is part of the overall consideration, which includes the $7.25 million payment and his advisory commitments.

Filing Exhibits & Attachments

3 documents