Selective Insurance adds Wole Coaxum to board
Selective Insurance Group, Inc. (SIGI) reports that its Board of Directors increased its size from 12 to 13 members and appointed Wole C. Coaxum as a non-employee director, effective September 16, 2026.
Rhea-AI Filing Summary
Selective Insurance Group, Inc. (SIGI) reports that its Board of Directors increased its size from 12 to 13 members and appointed Wole C. Coaxum as a non-employee director, effective September 16, 2026. He will serve until the 2027 Annual Meeting of Stockholders or until a successor is elected and qualified.
Coaxum, who previously served on the Board from 2020 to 2025, has been appointed to the Board’s Audit Committee and Compensation and Human Capital Committee. He will receive the standard non-employee director compensation, except he will not receive an annual equity award for fiscal year 2026 and his 2026 cash retainer will be prorated from his appointment date.
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Filing Explained
The board is now 13 members, including 12 independent directors, with no disclosed Item 404(a) transaction involving the returning appointee.
This Form 8-K reports a specified corporate event: effective September 16, Wole C. Coaxum’s appointment makes Selective’s board a 13-member body with 12 independent directors.
The filing also states that no arrangement or understanding led to the appointment, and discloses no family relationship or transaction with Mr. Coaxum reportable under Item 404(a) of Regulation S-K.
8-K Event Classification
Key Figures
Key Terms
non-employee director regulatory
Regulation FD regulatory
Audit Committee financial
Compensation and Human Capital Committee financial
Write Your Own Program financial
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What board change did SELECTIVE INSURANCE GROUP INC (SIGI) announce on September 16, 2026?
What committees will Wole C. Coaxum serve on at SIGI?
How will Wole C. Coaxum be compensated as a director of SIGI?
Did Wole C. Coaxum previously serve on Selective Insurance Group’s board?
How many independent directors does SIGI have after Coaxum’s appointment?
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT PURSUANT
TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
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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).
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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. ¨
Section 5 - Corporate Governance and Management
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On September 16, 2026, the Board of Directors (the “Board”) of Selective Insurance Group, Inc. (the “Company”) increased the size of the Board from 12 members to 13 members and appointed Wole C. Coaxum as a non-employee director of the Company, effective September 16, 2026 (the “Appointment”). The Board also named Mr. Coaxum to the Board’s Audit Committee and Compensation and Human Capital Committee. Mr. Coaxum previously served on the Board from 2020 to 2025. Mr. Coaxum’s term will continue until the Company’s 2027 Annual Meeting of Stockholders or until his successor has been duly elected and qualified.
Mr. Coaxum will receive the same compensation and benefits as the other non-employee directors on the Board, consistent with the Company’s non-employee director compensation program described in the Definitive Proxy Statement on Schedule 14A (at pages 77 to 79) that the Company filed with the Securities and Exchange Commission on March 26, 2026. However, Mr. Coaxum will not receive an annual equity award for fiscal year 2026, as the Company’s 2026 Annual Meeting of Stockholders, at which time the annual equity awards were granted, was already held. Mr. Coaxum’s annual cash retainer for fiscal year 2026 will be prorated for the period from the Appointment through December 31, 2026.
No arrangements or understandings exist between Mr. Coaxum or any other persons by which he was named a director of the Company. Mr. Coaxum has no family relationships with any Company director or executive officer, and the Company has not entered into any transactions with Mr. Coaxum reportable per Item 404(a) of Regulation S-K.
Item 7.01. Regulation FD Disclosure.
On September 16, 2026, the Company issued a press release regarding the Appointment, a copy of which is attached hereto as Exhibit 99.1 and incorporated herein by reference.
The information in Item 7.01 of this Current Report on Form 8-K, including Exhibit 99.1, is being furnished and shall not be deemed “filed” for the purpose or liabilities of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as expressly set forth by specific reference in any filing. The Company makes no admission about the materiality of any information in this report or the attached exhibits.
Important information may be disseminated initially or exclusively via the Company’s corporate website, www.selective.com/investors. Investors should consult the site to access this information. Any website addresses included herein are inactive textual references only. The information contained on any such website referenced herein is not incorporated into this Current Report on Form 8-K.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
| Exhibit No. | Description of Exhibit | |
| 99.1 | Press Release of Selective Insurance Group, Inc. dated September 16, 2026 | |
| 104 | The cover page from this Current Report on Form 8-K, formatted in Inline XBRL |
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.
| SELECTIVE INSURANCE GROUP, INC. | |||
| Date: | September 16, 2026 | By: | /s/ Michael H. Lanza |
|
Michael H. Lanza Executive Vice President and General Counsel | |||
Exhibit 99.1
SELECTIVE APPOINTS WOLE COAXUM AS INDEPENDENT DIRECTOR
Short Hills, N.J., September 16, 2026 – Selective Insurance Group, Inc. (Nasdaq: SIGI) today announced that Wole Coaxum has been appointed to its Board of Directors, effective today. Mr. Coaxum previously served as an independent director for Selective from 2020 to 2025. With this new appointment, Selective’s Board now consists of 13 directors, 12 of whom are independent.
“Wole has a unique set of skills that will enhance our collective Board capabilities,” said John J. Marchioni, Chairman, President and Chief Executive Officer. “He brings extensive expertise in financial services and FinTech, along with an entrepreneurial leadership background and a strong commitment to increasing economic access. We are excited to welcome him back to the boardroom to help us guide our long-term strategic priorities.”
Mr. Coaxum is the founder and Chief Executive Officer of On Our Block, a New York-based firm that offers strategic advisory services and supports capital-raising for owner-operated businesses. He previously founded Mobility Capital Finance, Inc. (“MoCaFi”), a New York-based digital banking platform that he led as Chief Executive Officer from 2015 until its wind-down in 2026.
Earlier in his three-decade career in the financial services and insurance industries, Mr. Coaxum was a Managing Director at JPMorganChase, which he joined in 2007. In this role, he was responsible for commercial credit card sales and relationship management. The first ten years of his career were spent at Citigroup, and he subsequently held senior executive positions for five years at Willis Group Holdings, the multi-national insurance brokerage, in both the U.S. and Canada. He earned a Bachelor of Arts in history from Williams College and a Master of Business Administration in finance from New York University’s Stern School of Business.
“Selective has a proud 100-year legacy of serving customers and communities with leading insurance solutions. I am honored to rejoin the Board and support the company’s continued success,” said Mr. Coaxum.
Mr. Coaxum has been appointed to the Board’s Audit Committee and Compensation and Human Capital Committee.
About Selective Insurance Group, Inc.
Selective Insurance Group, Inc. (Nasdaq: SIGI) is a holding company for 10 property and casualty insurance companies rated “A+” (Superior) by AM Best. Through independent agents, the insurance companies offer standard insurance for commercial and personal risks and specialty insurance for commercial risks. Selective also offers flood insurance through the National Flood Insurance Program’s Write Your Own Program. Selective’s unique position as both a leading insurance group and employer of choice is widely recognized, with awards and honors including listing in Forbes Best Midsize Employers and certification for seven consecutive years as a Great Place to Work®.
Investor Contact:
Brad Wilson
973-948-1283
Brad.Wilson@Selective.com
Media Contact:
Jamie Beal
973-948-1234
Jamie.Beal@Selective.com