The company received approximately 93% shareholder support on last year's Say on Pay vote, well above the 70% threshold of concern. The pay program is heavily weighted toward variable compensation — approximately 88% of the CEO's target pay is at risk — with meaningful performance conditions including annual pretax margin and return on equity targets (which paid out at 142% of target reflecting genuine outperformance) and a three-year relative total shareholder return component benchmarked against the S&P MidCap 400 Index (^MDY) that paid out at 137% of target at the 59th percentile, demonstrating alignment between pay and performance. The company also has a meaningful clawback policy, anti-hedging restrictions, and stock ownership guidelines in place.

PwC has served as FAF's auditor since 2009 (approximately 17 years), which is below the 25-year tenure threshold that would trigger a concern. Non-audit fees (audit-related fees of $1,783,925 plus tax fees of $371,581 plus other fees of $31,000, totaling $2,186,506) represent approximately 32% of audit fees of $6,859,258, which is well below the 50% threshold that would raise independence concerns. PwC is a Big 4 firm appropriate for a $6.1 billion market cap company.