Fidelity National updates CEO Nolan pay deal
Fidelity National Financial updated its employment agreement with Chief Executive Officer Michael J. Nolan effective May 8, 2026.
Rhea-AI Filing Summary
Fidelity National Financial updated its employment agreement with Chief Executive Officer Michael J. Nolan effective May 8, 2026. The First Amended and Restated Employment Agreement runs for three years and automatically renews annually unless either side gives notice.
Under the agreement, Mr. Nolan’s annual base salary is set at $1,100,000, and his annual incentive target is 200% of base salary, payable based on performance against targets. He remains eligible for the company’s equity incentive plans.
The agreement also includes a restricted stock Retention Award with a grant date value of $2,000,000, to be converted into shares using the New York Stock Exchange closing price on the grant date. One-third of these shares vest on each of the first three anniversaries of the grant date, contingent on his continued employment. The company notes that other terms largely match his prior agreement and that the decision reflects his skills and the company’s performance during his tenure.
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8-K Event Classification
2 items: 5.02, 9.01
2 items
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.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Key Figures
CEO base salary: $1,100,000 per year
Incentive target: 200% of base salary
Retention Award value: $2,000,000
+2 more
5 metrics
CEO base salary
$1,100,000 per year
Annual base salary under amended agreement
Incentive target
200% of base salary
Annual incentive opportunity tied to performance
Retention Award value
$2,000,000
Grant date value of restricted stock award
Agreement term
3 years
Initial term from May 8, 2026 with auto-renewals
Vesting schedule
1/3 annually over 3 years
Retention Award vesting on grant anniversaries
Key Terms
First Amended and Restated Employment Agreement, Retention Award, equity incentive plans, restricted stock award, +1 more
5 terms
First Amended and Restated Employment Agreement regulatory
"the Company entered into a First Amended and Restated Employment Agreement (the “A&R Employment Agreement”)"
Retention Award financial
"a restricted stock award with a grant date value of $2,000,000 (the “Retention Award”)"
equity incentive plans financial
"Mr. Nolan is eligible to participate in the Company’s equity incentive plans during the term of the agreement"
Equity incentive plans are company programs that pay employees, executives, or directors with company stock, stock options, or share units instead of or in addition to cash, aiming to align their interests with shareholders—like giving team members a stake in the house they help build. For investors this matters because such plans can motivate better company performance but also dilute existing ownership and increase reported compensation costs, so they affect future earnings, voting power, and share value.
restricted stock award financial
"a restricted stock award with a grant date value of $2,000,000"
A restricted stock award is company shares given to an employee or executive that cannot be sold or fully owned until certain conditions—like staying with the company for a set time or hitting performance targets—are met. Think of it as a gift that only becomes yours after you fulfill specific obligations; for investors, these awards matter because they can increase the total shares outstanding when they vest, reveal how management is being paid and motivated, and create potential selling pressure when restrictions lift.
emerging growth company regulatory
"Emerging growth company"
An emerging growth company is a recently public or smaller public firm that qualifies for temporary, lighter regulatory and disclosure rules to reduce the cost and effort of being public. For investors, it means the company may provide less historical financial detail and face fewer reporting requirements than larger firms, so it can grow more quickly but also carries higher uncertainty—like buying a promising early-stage product with fewer user reviews.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did Fidelity National Financial (FNF) change in Michael J. Nolan’s agreement?
Fidelity National Financial entered a First Amended and Restated Employment Agreement with CEO Michael J. Nolan. It sets a three-year term with automatic annual renewals, updating compensation details while remaining generally consistent with his prior agreement.
What is Michael J. Nolan’s new base salary and bonus target at FNF?
Michael J. Nolan’s annual base salary is set at $1,100,000 with an annual incentive target of 200% of base salary. Actual incentive amounts depend on performance relative to targeted results under the company’s incentive framework.
How large is the new retention stock award for FNF’s CEO?
The amended agreement grants Michael J. Nolan a restricted stock Retention Award with a grant date value of $2,000,000. The number of shares will equal $2,000,000 divided by the New York Stock Exchange closing price on the grant date.
How does the vesting schedule work for FNF CEO Michael J. Nolan’s Retention Award?
One-third of the shares under the Retention Award vest on each of the first three anniversaries of the grant date. Vesting is subject to Michael J. Nolan’s continued employment with Fidelity National Financial throughout the vesting periods.
Why did Fidelity National Financial grant a Retention Award to its CEO?
The compensation committee considered Michael J. Nolan’s skills, qualifications, individual performance, and the company’s strong performance during his tenure as CEO. Based on these factors, it approved the amended agreement and the $2,000,000 Retention Award.
How long is the term of Michael J. Nolan’s amended employment agreement with FNF?
The amended employment agreement has an initial three-year term beginning May 8, 2026. It includes automatic one-year extensions starting on the first anniversary of the effective date, unless either party timely elects not to extend.
AI-generated analysis. How Rhea-AI works. Not financial advice.
