DEF 14A of Selective Insurance Group Inc, Mar 26, 2026

DEF 14A of Selective Insurance Group Inc

Filed Mar 26, 2026 · FY20250001104659-26-034953

Open on EDGAR

  1. PROPOSAL 1. ELECTION OF DIRECTORS

    PROPOSAL 1. ELECTION OF DIRECTORS DIRECTORS ARE SUBJECT TO ANNUAL ELECTION BY THE STOCKHOLDERS. THE BOARD RECOMMENDS THAT YOU VOTE “FOR” EACH OF THE FOLLOWING 12 DIRECTOR NOMINEES FOR A TERM OF ONE YEAR:

  2. PROPOSAL 1. ELECTION OF DIRECTORS

    | AINAR D. AIJALA, JR. | STEPHEN C. MILLS | | LISA ROJAS BACUS | H. ELIZABETH MITCHELL | | TERRENCE W. CAVANAUGH | CYNTHIA S. NICHOLSON | | ROBERT KELLY DOHERTY | JULIE PARSONS | | JOHN J. MARCHIONI | KATE E. R. SAMPSON | | THOMAS A. MCCARTHY | JOHN S. SCHEID |

  3. PROPOSAL 1. ELECTION OF DIRECTORS

    You can find information about the director nominees, the Board, its committees, and other related matters in the section entitled, “Information about Proposal 1” of this Proxy Statement. New Jersey law and Selective’s By-Laws govern the vote on Proposal 1, on which you may:

  4. PROPOSAL 1. ELECTION OF DIRECTORS

    | ◾ | Vote “FOR” all of the director nominees; |

  5. PROPOSAL 1. ELECTION OF DIRECTORS

    | ◾ | Vote “AGAINST” all of the director nominees; |

  6. PROPOSAL 1. ELECTION OF DIRECTORS

    | ◾ | Vote “FOR” or “AGAINST” specific director nominees; or |

  7. PROPOSAL 1. ELECTION OF DIRECTORS

    | ◾ | Abstain from voting for all or specific director nominees. |

  8. PROPOSAL 1. ELECTION OF DIRECTORS

    Under our By-Laws and assuming a quorum is present, a director nominee in an uncontested election must be elected by a majority of votes cast at the Annual Meeting. A majority exists when the number of votes cast “For” a director nominee exceeds the number of votes cast “Against” the director nominee. A director nominee who fails to receive a majority of votes cast in an uncontested election is required to tender their resignation from the Board within five days following the certification of the election results. In that event, (i) the Corporate Governance and Nominating Committee must recommend to the Board whether it should accept the resignation, and (ii) the Board must decide whether to accept the resignation and disclose its decision-making process. Stockholders may not cumulate their votes. Abstentions and broker non-votes will not be taken into account in determining the outcome of the vote.

  9. Election of Directors

    Election of Directors Under our By-Laws, directors in uncontested elections must be elected by a majority of votes cast. A majority exists when the number of votes cast “for” a director nominee exceeds the number of votes cast “against” that director nominee. For more information on our majority voting policy, please see the section entitled, “Corporate Governance – Majority Voting for Directors in Uncontested Elections” of this Proxy Statement. All directors stand for election for a one-year term. In all cases, each director will hold office until a successor has been elected and qualified, or until the director’s earlier resignation or removal. The Board currently has 12 members, all of whom are standing for reelection at the Annual Meeting. Under Selective’s Amended and Restated Certificate of Incorporation and By-Laws, Selective may have a minimum of seven and a maximum of 20 directors. By majority vote, the Board may set the number of directors within this range at any time.

  10. Demographics

    Demographics Under our Corporate Governance Guidelines, the Corporate Governance and Nominating Committee must ensure that all pools of interviewed director candidates include individuals having a wide range of experience, perspectives, and opinions. Fifty-eight percent of our director nominees self-identify as diverse, with five director nominees self-identifying as female, two director nominees self-identifying as racially or ethnically diverse, and one director nominee self-identifying as LGBTQ+. The tenure of our director nominees is as follows: 17% have served five years or less; 67% have served six through ten years; and 17% have served over ten years. The ages of our director nominees are as follows: 25% are age 50 through 59; 58% are age 60 through 69; and 17% are 70 or older (in each case as of the date of this Proxy Statement).

  11. Director Nominees

    Director Nominees No family relationships exist among Selective’s current directors, director nominees, and executive officers. The Board ratified the Corporate Governance and Nominating Committee’s nomination of the 12 director nominees listed below to stand for election at the Annual Meeting for terms expiring at the 2027 Annual Meeting of Stockholders or until their respective successors have been duly elected and qualified. All 12 director nominees have consented to be named in this Proxy Statement and to serve if elected. The Board does not know of any reason a director nominee would decline or be unable to serve if elected. If a director nominee becomes unavailable or unable to serve before the Annual Meeting, the Board can reduce its size or designate a substitute director nominee. If the Board designates a substitute director nominee, proxies that would have been cast for the original director nominee will be cast for the substitute director nominee unless contrary instructions are given.

  12. Director Nominees

    | NOMINEES OF THE BOARD OF DIRECTORS | | | AINAR D. AIJALA, JR. | | | Age: 69 Director since: 2020 Independent Director Board Committees: Compensation and Human Capital, Corporate Governance and Nominating | Background Information ◾ Senior Advisor to the Global CEO and other senior-level positions, including Chief Global Corporate Development Officer and Global Managing Partner of Consulting and Human Capital, Deloitte & Touche LLP (“Deloitte”), 1982 to 2020. ◾ Senior Manager, Coopers & Lybrand Consulting, 1977 to 1982. ◾ Town Commissioner, Ocean Ridge, Florida, since January 2024. ◾ Board of Managers, DLED, Inc., 2021 to 2023. ◾ Emeritus Governor, Board of Governors, Junior Achievement Worldwide, since 2021; Member, Junior Achievement Worldwide, 2003 to 2021, and Junior Achievement USA, 2015 to 2021; Member of the Executive Compensation Committee, 2003 to 2021, and past Chairman of Junior Achievement Worldwide, 2006 to 2009. ◾ Enrolled Actuary pursuant to the Employee Retirement Income Security Act of 1974, since 1982. ◾ University of Michigan at Ann Arbor (B.S.). Discussion of individual experience, qualifications, attributes, and skills. Mr. Aijala has significant experience as an actuary and as a corporate development and human capital executive. As a senior global advisor and managing partner at Deloitte for 38 years, he advised public companies on various strategic issues relevant to Selective, particularly human capital and benefit plan issues. Deloitte grew rapidly during his tenure as Global Managing Partner, and he was responsible for attracting, developing, and retaining top human capital. Mr. Aijala has also devoted considerable time to educating primary and secondary school students about entrepreneurship, work readiness, and financial literacy through Junior Achievement Worldwide. His broad knowledge of human relations matters, notably recruiting, developing, and retaining human capital, benefits Selective in developing its talent strategies. For these reasons, the Board believes Mr. Aijala is qualified to serve as a director. |

  13. Director Nominees

    | LISA ROJAS BACUS | | | Age: 62 Director since: 2020 Independent Director Board Committees: Compensation and Human Capital, Corporate Governance and Nominating | Background Information ◾ Executive Vice President, Global Chief Marketing Officer, Cigna Corporation (“Cigna”), 2013 to 2019. ◾ Executive Vice President and Chief Marketer, American Family Insurance Group, 2008 to 2013. ◾ Executive Director, Global Marketing Strategy and other senior positions, Ford Motor Company, 1986 to 2008. ◾ Board Member, Culver’s Franchising System, Inc., since 2010. ◾ Board Member, PetSmart Charities Inc., since 2019. ◾ Member, Latino Corporate Directors Association. ◾ Northern Arizona University (B.S.). ◾ Duke University (M.B.A.). ◾ Diligent Institute ESG Leadership Certification. ◾ Corporate Governance Institute AI Governance Certificate. Other Public Company Board Service ◾ Board Member, Teradata Corporation (NYSE: TDC), since 2015; Member of Nominating and Governance Committee. ◾ Board Member, Douglas Dynamics, Inc. (NYSE: PLOW), since 2020; Member of Audit Committee and Nominating and Corporate Governance Committee, and Chair of Compensation Committee. Discussion of individual experience, qualifications, attributes, and skills. Ms. Bacus has over 30 years of marketing, operations, and senior leadership experience in Fortune 100 global companies in the insurance and automotive industries. She has extensive property and casualty marketing experience, including developing relationships with independent agents. She is a strategic thinker and highly regarded customer experience expert. Her marketing, digital, and analytics experience contributes significantly to Selective’s strategies. For these reasons, the Board believes Ms. Bacus is qualified to serve as a director. | | TERRENCE W. CAVANAUGH | | | Age: 72 Director since: 2018 Independent Director Board Committees: Audit, Risk, Executive | Background Information ◾ Founding partner, Accretive Consulting LLC, since 2017. ◾ President and Chief Executive Officer, Erie Indemnity Company, 2008 to 2016. ◾ Chief Operating Officer of Chubb Surety & Trade Credit, Chubb Group of Insurance Companies (“Chubb Group”), 2002 to 2007; Chief Marketing Officer, Chubb Group, 1998 to 2001; various underwriting and field management roles, 1975 to 1997. ◾ Director, Highmark Health, since 2013. ◾ Board of Commissioners, Naples Airport Authority, since 2022. ◾ Director, Property Casualty Insurance Association, 2008 to 2017; Chairman, 2014 to 2015. ◾ Trustee, The Institutes, 2010 to 2016. ◾ Director, Insurance Information Institute, 2011 to 2016; Chairman, 2015 to 2016. ◾ University of Notre Dame (B.B.A.). ◾ Harvard Business School (Program for Management Development). Discussion of individual experience, qualifications, attributes, and skills. Mr. Cavanaugh has more than 40 years of insurance expertise, including serving for eight years as the chief executive officer of a Fortune 500® insurer. He has extensive experience growing property and casualty direct premiums written and increasing policyholder surplus, delivering profitability, and developing relationships with independent agents. Mr. Cavanaugh has significant customer experience and talent development knowledge and expertise. For these reasons, the Board believes Mr. Cavanaugh is qualified to serve as a director. |

  14. Director Nominees

    | ROBERT KELLY DOHERTY | | | Age: 67 Director since: 2015 Independent Director Lead Independent Director since: 2022 Board Committees: Audit, Finance and Investments, Executive | Background Information ◾ Managing Partner and Founder, Caymen Partners, since 1999, and Caymen Advisors, 1999 to 2020. ◾ Vice Chairman, Bankers Trust Company and Bankers Trust New York Corporation, 1997 to 1998; various positions in global trading and investment operations, 1982 to 1997. ◾ Director, Harding Loevner Funds, Inc., since 2004; Non-Executive Chair and Audit Committee Member. ◾ Director, Cyota, Inc., 2000 to 2005; Non-Executive Chairman, 2002 to 2005. ◾ Princeton University (B.A.). Discussion of individual experience, qualifications, attributes, and skills. Mr. Doherty has significant investment experience in both public and private companies. He plays a key advisory role in contributing to Selective’s investment strategies, particularly in the private equity sector, and has substantial knowledge about investment products. Mr. Doherty also has significant senior management experience with a large financial services company. He is familiar with the issues that Selective’s senior management faces, including business strategy development and execution. For these reasons, the Board believes Mr. Doherty is qualified to serve as a director. | | JOHN J. MARCHIONI | | | Age: 56 Director since: 2019 Chairman of the Board since: 2022 Board Committees: Executive | Background Information ◾ President and Chief Executive Officer (“CEO”), Selective, since 2020. ◾ President and Chief Operating Officer, Selective, 2013 to 2020. ◾ Executive Vice President, Insurance Operations, Selective, 2010 to 2013. ◾ Executive Vice President, Chief Underwriting and Field Operations Officer, Selective, 2008 to 2010. ◾ Executive Vice President, Chief Field Operations Officer, Selective, 2007 to 2008. ◾ Senior Vice President, Director of Personal Lines, Selective, 2005 to 2007. ◾ Various insurance operations and government affairs positions, Selective, 1998 to 2005. ◾ Member of the Board of Trustees, The Institutes, since 2022. ◾ Director, The American Property Casualty Insurance Association, since 2020; Executive Committee Member, since January 2024. ◾ Member of the Board of Overseers at St. John’s University School of Risk Management, Insurance and Actuarial Science, since 2021. ◾ Chartered Property Casualty Underwriter (CPCU). ◾ Princeton University (B.A.). ◾ Harvard University (Advanced Management Program). Discussion of individual experience, qualifications, attributes, and skills. Mr. Marchioni became Chairman of the Board in 2022 after becoming President and CEO of Selective in 2020 and having served as President and Chief Operating Officer since 2013. As Selective’s President and CEO, he oversees all aspects of the Company. Mr. Marchioni has exhibited strong leadership, guiding Selective’s management team in executing our strategic initiatives. He has extensive knowledge of the property and casualty industry and its regulation, having begun his Selective career over 25 years ago in government affairs. He serves on several significant industry-related boards, including the American Property Casualty Insurance Association, The Institutes, and the St. John’s University School of Risk Management, Insurance and Actuarial Science. His demonstrated talents and abilities will continue to help position Selective for its next phase of growth. For these reasons, the Board believes Mr. Marchioni is qualified to serve as a director. |

  15. Director Nominees

    | THOMAS A. MCCARTHY | | | Age: 69 Director since: 2018 Independent Director Board Committees: Finance and Investments, Audit, Executive | Background Information ◾ Executive Vice President and Chief Financial Officer, Cigna, 2013 to 2017; Vice President, Finance, 2011 to 2013; Acting Chief Financial Officer, 2010 to 2011; Vice President and Treasurer, 2008 to 2010; and Vice President, Strategy and Corporate Development, 2003 to 2008. ◾ Director, Avenue of the Arts, since 2022. ◾ Trustee, American University of Rome, since 2018. ◾ Director, Habitat for Humanity of Montgomery & Delaware Counties, 2017 to 2024. ◾ Wharton School of the University of Pennsylvania (B.S.). ◾ Carnegie Mellon University (M.B.A.). ◾ NACD Directorship Certified®. Other Public Company Board Service ◾ Director, Privia Health Group, Inc. (Nasdaq: PRVA), since 2021; Member of Audit Committee. Discussion of individual experience, qualifications, attributes, and skills. Mr. McCarthy retired in 2017 after more than 30 years with Cigna, where his responsibilities included strategy and corporate development, including mergers and acquisitions, corporate risk management, corporate finance, capital management, and treasury operations. Mr. McCarthy’s significant operational experience as the chief financial officer of a Fortune 100 company and his knowledge of investments, finance, public company operations, controls, and disclosures are invaluable assets to Selective as it develops and implements its investment and growth strategies. For these reasons, the Board believes Mr. McCarthy is qualified to serve as a director. | | STEPHEN C. MILLS | | | Age: 66 Director since: 2020 Independent Director Board Committees: Compensation and Human Capital, Corporate Governance and Nominating, Finance and Investments, Executive | Background Information ◾ President and General Manager, New York Knicks, 2013 to 2020. ◾ Founding Partner and Chief Executive Officer, Athletes & Entertainers Wealth Management, LLC, 2010 to 2013. ◾ President and Chief Operating Officer, MSG Sports, and previously Executive Vice President, Franchise Operations, New York Knicks, Madison Square Garden, 2000 to 2009. ◾ Director, Project Level, since February 2025. ◾ Member, Board of Trustees and Audit Committee, Ariel Investments, 2015 to January 2025. ◾ Director, Ladies Professional Golf Association, since 2023; Chairperson, Nominating Committee and Member, Tournaments and Finance Committee. ◾ Director, Madison Square Garden Networks, 2020 to 2021. ◾ Member, Board of Advisors, Hospital for Special Surgery, since 2011. ◾ Director, Princeton University Varsity Club, since 2010. ◾ Princeton University (B.A.). Other Public Company Board Service ◾ Director, Madison Square Garden Sports Corp. (NYSE: MSGS), since 2020. ◾ Director, AMC Networks (Nasdaq: AMCX), since 2024. Discussion of individual experience, qualifications, attributes, and skills. Mr. Mills has extensive general management, marketing, brand communication, and human capital experience after three decades in senior positions with Madison Square Garden Sports, the New York Knicks, the National Basketball Association, and his own sports agency. Having served as an investment fiduciary on the Mutual Fund Board of Trustees of Ariel Investments, he can contribute insights to our investment strategies. Mr. Mills has been active with several prominent charities, and these experiences and his knowledge of media-intensive public companies advance our marketing strategies. He is knowledgeable on corporate sustainability and social responsibility issues. For these reasons, the Board believes Mr. Mills is qualified to serve as a director. |

  16. Director Nominees

    | H. ELIZABETH MITCHELL | | | Age: 64 Director since: 2018 Independent Director Board Committees: Audit, Risk | Background Information ◾ President, CEO and Director, Renaissance Reinsurance U.S. Inc., 2015 to 2016. ◾ President, Platinum Underwriters Reinsurance, Inc., 2005 to 2015; Chief Executive Officer, 2007 to 2015; Chief Operating Officer and Executive Vice President, 2004 to 2005; Executive Vice President, 2002 to 2004; Director, 2002 to 2015. ◾ Executive Vice President, St. Paul Reinsurance, Inc., 1998 to 2002; Senior Vice President, 1998; Vice President, 1993 to 1998. ◾ Advisor, Hudson Structured Capital Management Ltd., 2018 to 2024. ◾ Director, StanCorp Financial Group, Inc., 2017 to 2022. ◾ Chairperson, Weston Insurance Holdings, 2020 to 2022. ◾ Board of Overseers, St. John’s University School of Risk Management, Insurance and Actuarial Science, 2007 to 2016. ◾ Trustee, The Institutes, 2010 to 2016. ◾ Board Member, Reinsurance Association of America, 2002 to 2007; 2014 to 2016. ◾ Board Member, Broker and Reinsurance Market Association, 2002 to 2016; Chair of the Board, 2007 to 2008; Vice Chair, 2006 to 2007; Executive Committee, 2006 to 2010. ◾ Fellow of the Casualty Actuarial Society. ◾ Member, American Academy of Actuaries. ◾ College of the Holy Cross (B.A.). ◾ NACD Directorship Certified®. ◾ CERT Certificate in Cybersecurity Oversight. Other Public Company Board Service ◾ Director, Principal Financial Group (Nasdaq: PFG), since 2022; Member of Audit Committee. ◾ Director, Enact Holdings, Inc. (Nasdaq: ACT), since March 2025; Chair of Audit Committee. Discussion of individual experience, qualifications, attributes, and skills. Ms. Mitchell is an experienced insurance industry executive with a proven record of accomplishment leading an organization with sustained profitability. In addition to her extensive senior management experience in the property and casualty insurance and reinsurance industries, Ms. Mitchell is an actuary and very knowledgeable about risk, actuarial science, insurance operations, mergers and acquisitions, and operational reorganization matters. For these reasons, the Board believes Ms. Mitchell is qualified to serve as a director. |

  17. Director Nominees

    | CYNTHIA S. NICHOLSON | | | Age: 62 Director since: 2009 Independent Director Board Committees: Compensation and Human Capital, Corporate Governance and Nominating, Executive | Background Information ◾ Managing Member, Band of Sisters, LLC, since 2021. ◾ Advisor, Yext, Inc., 2019 to October 2024. ◾ Advisor, Tangelo (formerly known as Tangerine/Feed Each Other/Forkcast), since 2018; Chief Marketing Officer, 2017 to 2018; Chief Operating Officer, 2015 to 2017. ◾ Chief Marketing Officer, Softcard®, 2013 to 2015. ◾ Executive Vice President and Chief Marketing Officer, Equinox Holdings, Inc., 2010 to 2012. ◾ Advisor, GamesThatGive, Inc., 2010 to 2011; Principal Strategist and Director, 2009 to 2010. ◾ Senior Vice President and Chief Marketing Officer, Pepsi-Cola North America, a division of PepsiCo, Inc., 2005 to 2008. ◾ Member of Advisory Board, Lavit, LLC, 2017 to 2024. ◾ Director, Heartland Consumer Products Investments Holdings, LLC, 2016 to 2018. ◾ Director, Association of National Advertisers, 2006 to 2008. ◾ University of Illinois (B.S.). ◾ Kelley School of Business, Indiana University (M.B.A.). Discussion of individual experience, qualifications, attributes, and skills. Ms. Nicholson is a marketing expert with over 30 years of experience in several consumer-focused industries. She was chief marketing officer at Equinox Holdings, Inc. and Pepsi-Cola North America. Ms. Nicholson has extensive experience building brands, developing advertising messaging, buying media, and developing and implementing strategies for promotions, innovation, digital and social media, and direct marketing. Her strong consumer marketing and branding experience benefits our efforts to expand our brand with distribution partners, businesses, and consumers in property and casualty insurance markets. Ms. Nicholson’s marketing experience includes developing messaging related to culture building and she is a Managing Member of Band of Sisters, LLC, which assists corporate leaders build inclusive cultures. This experience and knowledge will help inform Selective’s human capital strategies. For these reasons, the Board believes Ms. Nicholson is qualified to serve as a director. | | JULIE PARSONS | | | Age: 53 Director since: 2025 Independent Director Board Committees: Compensation and Human Capital, Risk | Background Information ◾ Executive Vice President, Chief Operating Officer, Property & Liability, Insurance, Allstate Corporation, 2019 to 2024; Executive Vice President, Product Operations, Insurance, 2017 to 2019; Senior Vice President, Vehicle Product Management, Insurance, 2014 to 2017; Senior Vice President, Product, Eastern Territory Regions, 2010 to 2014; Senior Vice President, Emerging Businesses, 2008 to 2010; Vice President, Product, 2007 to 2008; Vice President, Chief Actuary, 2005 to 2007; other positions, 1993 to 2005. ◾ Chicago Advisory Board Chair, Member of National Board and Finance Committee, The Posse Foundation, since 2022. ◾ Achieved Fellowship in the Casualty Actuarial Society. ◾ Purdue University (B.S.) Discussion of individual experience, qualifications, attributes, and skills. Ms. Parsons has over 30 years of experience in the insurance industry, focusing specifically in personal lines property and casualty product management and pricing in the U.S. She has held executive positions leading pricing, risk management, and product management and operations. Ms. Parsons also has experience in managing large-scale operational transformations. For these reasons, the Board believes Ms. Parsons is qualified to serve as a director. |

  18. Director Nominees

    | KATE E. R. SAMPSON | | | Age: 53 Director since: 2024 Independent Director Board Committees: Finance and Investments, Risk | Background Information ◾ Owner, Merinn Advisors LLC, since 2019. ◾ Managing Director and Partner leading insurance technology venture investments, Anthemis Group, 2019 to 2024. ◾ Vice President of Risk Solutions, Lyft, 2014 to 2018. ◾ Managing Director, Marsh McLennan, 1996 to 2014. ◾ Member of Advisory Board, Duke University FinTech, 2023 to July 2025. ◾ University of Massachusetts at Amherst (B.A.). ◾ Stanford University Graduate School of Business (Executive Education in Finance and Accounting). ◾ NACD Directorship Certified®. ◾ NACD Effective AI Oversight for Directors Certificate. Discussion of individual experience, qualifications, attributes, and skills. Ms. Sampson is an insurance industry and technology specialist with 30 years of experience in financial, operational, and management roles. She has experience with emerging technologies oversight, having served as an advisor or board member to a number of the leading InsurTech companies. She is a recognized thought leader in insurance innovation, disruption, product development, distribution, and mobility. Ms. Sampson is passionate about insurance and firmly committed to positive change in the insurance industry, particularly in attracting and developing talent. For these reasons, the Board believes Ms. Sampson is qualified to serve as a director. | | JOHN S. SCHEID | | | Age: 70 Director since: 2014 Independent Director Board Committees: Audit, Risk, Executive | Background Information ◾ Owner and sole member, Scheid Investment Group, LLC, since 2013. ◾ Senior Partner, PricewaterhouseCoopers LLP, 2009 to 2013; Global Insurance Assurance Practice Leader, 2001 to 2009; Chairman, Americas Insurance Practice, 2001 to 2010; U.S. Insurance Practice Leader, 1995 to 2001; Midwest Region Financial Services Leader, 1991 to 1995; Partner, 1988 to 1991; other positions, 1977 to 1988. ◾ Director, Groupware Technologies Holdings, Inc., since 2021. ◾ Director, Catholic Relief Services, since 2021; Chair of Audit and Risk Committee. ◾ Director, Sprecher Brewing Company, since 2022. ◾ Member, Finance Council for the Archdiocese of Milwaukee, since 2016; Chairman since 2023. ◾ Member, Golden Angels Investment Group, since 2013. ◾ Director, University of Wisconsin-Milwaukee Foundation, 2002 to 2011; Emeritus Director, since 2011. ◾ Director, Extraordinary Re Holdings LTD and Extraordinary Reinsurance Bermuda, 2018 to 2022. ◾ Director, Dynamis Software Corporation, 2014 to 2018. ◾ Director, Messmer Catholic Schools, 2013 to 2021; Chairman, 2016 to 2021. ◾ Chairman, Accounting Examining Board, State of Wisconsin, 2013 to 2019. ◾ Investment Committee Member, Marquette University High School, 2011 to 2024. ◾ Certified Public Accountant (Wisconsin). ◾ University of Notre Dame (B.B.A.). ◾ NACD Directorship Certified®. ◾ CERT Certificate in Cybersecurity Oversight. ◾ NACD Effective AI Oversight for Directors Certificate. Discussion of individual experience, qualifications, attributes, and skills. Mr. Scheid retired after 36 years at PricewaterhouseCoopers LLP, most recently serving as a senior partner, primarily in the insurance and asset management industries. He has extensive experience in finance and insurance, financial management, public company governance and disclosure, corporate transactions, strategic leadership, succession planning, and cybersecurity. For these reasons, the Board believes Mr. Scheid is qualified to serve as a director. |

  19. Director Nominees

    THE BOARD UNANIMOUSLY RECOMMENDS THAT STOCKHOLDERS VOTE “FOR” EACH OF THE DIRECTOR NOMINEES.

  20. Compensation Risk Assessment

    | ◾ | The maximum potential payments under our compensation plans; |

  21. Role and Function of the Compensation & Human Capital Committee (CHCC), the Compensation Consultant, and Management

    Role and Function of the Compensation & Human Capital Committee (CHCC), the Compensation Consultant, and Management The CHCC oversees executive compensation and retains an independent executive compensation consultant, Exequity LLP (the “Compensation Consultant”), to advise it on executive and director compensation matters. The Compensation Consultant (i) reviews our NEO compensation structure and amounts, (ii) prepares comprehensive competitive compensation analyses for our NEOs, (iii) provides counsel to the CHCC about award metrics, compensation components, amounts allocated to those components, and the total compensation opportunities for the CEO and the other NEOs, and (iv) attends CHCC meetings. The Compensation Consultant has advised the CHCC since 2007. The Compensation Consultant advises the CHCC on executive and director compensation matters and does not provide any additional services to Selective. The CHCC determined that the Compensation Consultant has no conflicts of interest with Selective based on applicable SEC and Nasdaq rules. The CHCC has full autonomy to make compensation decisions about the NEOs, incorporating information and advice from the Compensation Consultant. In 2025, Mr. Marchioni made recommendations to the CHCC regarding the other NEOs’ compensation, based on his assessment of their annual performance, contributions to Selective, and potential for advancement. Mr. Marchioni did not participate in the deliberations on his compensation. In making its compensation decisions, the CHCC also considers (i) pre-established guidelines regarding award amounts, (ii) pay levels at companies with which we compete for business and executive talent (discussed below), (iii) Selective’s performance, (iv) executive retention issues, (v) internal compensation parity, and (vi) advancement in abilities, experience, and responsibilities. As part of their usual duties and responsibilities, the Executive Vice President, Chief Human Resources Officer, and certain other human resources officers provide the CHCC with information about the overall design of the executive compensation program and its components.

  22. Compensation Elements

    | ◾ | Annual cash incentive program (“ACIP”) payments; and |

  23. Compensation Elements

    | ◾ | Long-term incentive program (“LTIP”) awards in the form of performance-based restricted stock units and performance-based cash incentive units. |

  24. Compensation Best Practices

    | WHAT WE DO | WHAT WE DO NOT DO | | We use fixed and variable compensation components. | We do not include excise tax gross-up provisions in employment agreements. | | We align pay with performance, with compensation weighted toward performance-based equity and performance-based cash bonus awards to NEOs. | We do not re-price stock options. | | We have stock ownership and retention requirements for our senior executives. | We do not grant stock options at less than fair market value. | | We have double triggers for cash and equity award payments upon a change in control under employment agreements. | We do not pay dividends on unvested stock-based awards. | | We have a recoupment policy that provides for the clawback of certain incentive-based compensation (see section entitled, “Recoupment of Awards” of this Proxy Statement for more information). | We have not included incentive compensation in pension calculations (accrual of additional pension benefits ceased in 2016). | | We offer very limited perquisites to executive officers. | We do not permit hedging of Selective stock by directors, officers, or employees (see section entitled, “Policy on Hedging” of this Proxy Statement for more information). | | The CHCC engages an independent compensation consultant. | We do not guarantee annual salary increases. |

  25. Benchmarking

    Benchmarking When making compensation decisions, the CHCC believes it is important to have information from multiple sources about compensation practices at an array of publicly traded companies, focusing on property and casualty insurance holding companies. The CHCC believes that:

  26. Benchmarking

    | ◾ | Benchmarking provides the CHCC with relevant context to make appropriate compensation decisions that will help attract, retain, and motivate the key talent required to drive company performance and long-term stockholder value; |

  27. Benchmarking

    | ◾ | Measuring our compensation against practices from two benchmark sources (see below for more details) helps ensure that the CHCC has an ample and robust assessment of our competitive compensation posture; and |

  28. Benchmarking

    | ◾ | Considering multiple market references alleviates potential volatility inherent in a single-market data point and enhances the CHCC’s decisions by allowing it to rely on a more comprehensive set of market-competitive pay boundaries. |

  29. Benchmarking

    The CHCC reviewed with the Compensation Consultant the following benchmarking information in October 2024 for purposes of establishing 2025 compensation:

  30. Benchmarking

    | ◾ | Analyses of both the individual compensation elements and total compensation that we pay our NEOs compared to a peer group that consisted of companies with which we compete in the sale of products and services and for talent (“Proxy Peer Group”); and |

  31. Benchmarking

    | ◾ | Data from a third-party vendor survey, the 2024 Property and Casualty Insurance Compensation Survey for our NEOs against a group consisting of 59 property and casualty insurance organizations, including Selective, with annual median direct written premiums of $4.4 billion and annual median revenues of $3.6 billion. |

  32. Benchmarking

    As part of the 2025 compensation process, in late 2024, the Compensation Consultant furnished the CHCC with the most recent NEO compensation information available from the following:

  33. Benchmarking

    | Proxy Peer Group* | | Third-Party Vendor Survey | | Arch Capital Group, Ltd. | Kemper Corporation | Property and Casualty Insurance Compensation Survey | | AXIS Capital Holdings Limited | RLI Corporation | | | Cincinnati Financial Corporation | The Hanover Insurance Group, Inc. | | | CNA Financial Corporation | The Hartford Financial Services Group, Inc. | | | Erie Indemnity Company | United Fire Group, Inc. | | | Everest Re Group, Ltd. | W. R. Berkley Corporation | |

  34. Benchmarking

    * Except with respect to the removal of Argo Group International Holdings, Ltd. following its acquisition, the Proxy Peer Group used in making 2025 compensation decisions was the same as the Proxy Peer Group used in 2024. Information for the Proxy Peer Group companies was obtained from proxy statements and other SEC filings. This information includes data on compensation components and comparative analyses of the overall financial performance of the Proxy Peer Group. The Proxy Peer Group is comprised of companies that provide similar products, have a similar geographic market scope, and compete with us for executive talent. The Property and Casualty Insurance Compensation Survey provides supplemental data from organizations of various sizes. We also analyze data from across the property and casualty insurance industry because we strive to engage the best talent and recruit from organizations that are both smaller and larger than Selective. In late 2025 and early 2026, to evaluate 2025 and 2026 pay decisions, including the ACIP payouts for 2025, the CHCC reviewed information (i) from the Proxy Peer Group and (ii) reported in the 2025 Property and Casualty Insurance Compensation Survey group consisting of 57 property and casualty insurance organizations, including Selective, with annual median direct written premiums of $4.1 billion and annual median revenues of $4.6 billion. The CHCC reviewed compensation information from these two market reference sources in setting the NEOs’ total compensation (consisting of aggregate base salaries, ACIP payments, and LTIP awards) 20.3% below the combined benchmark median. The components comprising NEO total compensation for 2025 differed from market to varying degrees. Specifically, base salary was 4.2% below the combined benchmark median. Driven by the 2025 financial performance indicators that reflected considerable year-on-year improvement over 2024 results, most notably improvements in GAAP combined ratio from 103.0% to 97.2% and non-GAAP operating ROE from 7.1% to 14.2%, ACIP awards were materially higher for 2025 than for 2024 but were still 35.7% below the combined benchmark median. The relative positioning of the combined base salary and ACIP awards resulted in annual total cash compensation that was 24.9% below the combined benchmark median. The grant date fair value of our 2025 LTIP awards was 13.5% below the combined benchmark median. The CHCC felt that each NEO’s compensation, on an absolute basis and relative to market references, was appropriate, considering their individual accomplishments and contributions, performance relative to 2025 financial, operational, and strategic goals, and performance compared to projected industry performance.

  35. 2025 ELEMENTS OF COMPENSATION AND ALLOCATION BETWEEN CURRENT AND LONG-TERM COMPENSATION

    2025 ELEMENTS OF COMPENSATION AND ALLOCATION BETWEEN CURRENT AND LONG-TERM COMPENSATION The table below shows the percentages of compensation for 2025 for the CEO and the other NEOs that are fixed compensation (i.e., base salary) versus variable compensation (i.e., ACIP and LTIP), and short-term incentive compensation (i.e., ACIP) versus long-term incentive compensation (i.e., LTIP). As indicated in the table below, the 2025 compensation allocation aligns closely with our compensation philosophy, which is designed to motivate our NEOs to achieve short- and long-term corporate objectives consistent with our stockholders’ economic interests. We strive to balance pay incentive elements and performance time horizons.

  36. 2025 ELEMENTS OF COMPENSATION AND ALLOCATION BETWEEN CURRENT AND LONG-TERM COMPENSATION

    | | Fixed Compensation | Variable Compensation | | | | NEOs | 2025 Base Salary | 2025 Short-Term (ACIP) | 2025 Long-Term (LTIP) | 2025 Total Variable (ACIP + LTIP) | | John J. Marchioni | 16% | 24% | 60% | 84% | | Patrick S. Brennan | 23% | 36% | 41% | 77% | | Joseph O. Eppers | 28% | 35% | 37% | 72% | | Brenda M. Hall | 28% | 23% | 49% | 72% | | Michael H. Lanza | 39% | 26% | 35% | 61% |

  37. 2025 ELEMENTS OF COMPENSATION AND ALLOCATION BETWEEN CURRENT AND LONG-TERM COMPENSATION

    The chart below reflects the allocation of 2025 compensation among LTIP, ACIP, and base salary for the CEO and the average of all other NEOs:

  38. Annual Cash Incentive Program

    Annual Cash Incentive Program Our ACIP is intended to link a meaningful portion of annual cash compensation to one or more pre-established annual short-term strategic and financial organizational performance goals. For 2025, all NEOs were eligible to participate in the ACIP. As described below, the ACIP calculation for Mr. Eppers, our Chief Investment Officer, is determined under an Investment Department ACIP framework that focuses primarily on investment-related criteria. ACIP awards are granted under the Selective Insurance Group, Inc. Cash Incentive Plan, As Amended and Restated as of May 1, 2014 (the “Cash Incentive Plan”).

  39. ELEMENTS OF LONG-TERM COMPENSATION

    ELEMENTS OF LONG-TERM COMPENSATION

  40. Design Elements

    Design Elements Our long-term incentive opportunities are intended to reward our NEOs and encourage their long-term retention. By aligning financial rewards with our stockholders’ economic interests, our NEOs are motivated to achieve our long-term strategic objectives and increase stockholder value. We use both cash and non-cash elements under our LTIP to deliver long-term compensation. LTIP awards are typically granted in overlapping three-year cycles and are allocated between performance-based restricted stock units and performance-based cash incentive units. By granting performance-based restricted stock units and performance-based cash incentive units with three-year performance periods, we seek to align our economic interests with those of our stockholders and further support retention.

  41. LTIP Award Grants

    LTIP Award Grants

  42. LTIP Award Grants

    | Performance Period | Restricted Stock Unit Performance Measures | Cash Incentive Unit Performance Measures | | 01/01/23 – 12/31/25 | Generate a cumulative non-GAAP operating ROE of at least 12% (computed by excluding from the determination of average equity any unrealized gain or loss occurring after December 31, 2022), or achieve a 5% cumulative growth in policy count or statutory NPW at the end of the three-year performance period. | Cumulative TSR over the three-year performance period, and cumulative three-year statutory NPW growth and statutory operating return on policyholder surplus(1) relative to peer index. | | 01/01/24 – 12/31/26 | Generate a cumulative non-GAAP operating ROE of at least 12% (computed by excluding from the determination of average equity any unrealized gain or loss occurring after December 31, 2023), or achieve a 5% cumulative growth in policy count or statutory NPW at the end of the three-year performance period. | Cumulative TSR over the three-year performance period, and cumulative three-year statutory NPW growth and statutory operating return on policyholder surplus relative to peer index. | | 01/01/25 – 12/31/27 | Generate a cumulative non-GAAP operating ROE of at least 12% (computed by excluding from the determination of average equity any unrealized gain or loss occurring after December 31, 2024), or achieve a 5% cumulative growth in policy count or statutory NPW at the end of the three-year performance period. | Cumulative TSR over the three-year performance period, and cumulative three-year statutory NPW growth and statutory operating return on policyholder surplus relative to peer index. |

  43. LTIP Award Grants

    (1) Statutory operating return on policyholder surplus is a profitability measurement calculated by dividing statutory operating income by the average policyholder surplus during the performance period. In determining the amount of LTIP awards granted to the NEOs in 2025, the CHCC considered several factors, including: (i) each NEO’s performance during the previous year, including the achievement of departmental goals and other projects and endeavors accomplished throughout the year; (ii) each NEO’s total compensation in comparison to our Proxy Peer Group and Property and Casualty Insurance Compensation Survey data; and (iii) our desire for long-term retention of high-performing executives. Performance-Based Restricted Stock Units Approximately 75% of the total grant date fair value of each NEO’s LTIP award made in 2025 consisted of performance-based restricted stock units granted under the Selective Insurance Group, Inc. 2024 Omnibus Stock Plan (the “Omnibus Stock Plan”), subject to the following conditions:

  44. LTIP Award Grants

    | ◾ | Three-year vesting period; and |

  45. LTIP Award Grants

    | ◾ | Achievement at the end of the three-year period beginning on January 1, 2025 and ending on December 31, 2027, of either (i) a cumulative non-GAAP operating ROE of at least 12% (computed by excluding from the determination of average equity any unrealized gain or loss occurring after December 31, 2024), or (ii) a cumulative 5% growth in policy count or statutory NPW. |

  46. LTIP Award Grants

    Dividend equivalent units (“DEUs”) are credited on performance-based restricted stock units at the same time and same dividend rate paid to all Selective stockholders. Payments of DEUs, which are payable in shares of Selective common stock, remain subject to the same vesting conditions and performance measures as the underlying restricted stock units. DEUs are not paid unless and until the related restricted stock units vest. Using performance-based restricted stock units aligns this component of our NEOs’ compensation with overall corporate performance and stockholder interests. Performance-Based Cash Incentive Units The remaining approximate 25% of the total grant date fair value of each NEO’s LTIP award granted in 2025 consisted of performance-based cash incentive units granted under the Cash Incentive Plan, subject to the following terms:

  47. LTIP Award Grants

    | ◾ | Three-year performance period; |

  48. LTIP Award Grants

    | ◾ | The value of each cash incentive unit, initially awarded at $100 per unit, increases or decreases to reflect the TSR of Selective common stock over the three-year performance period for the award beginning on January 1, 2025 and ending on December 31, 2027; and |

  49. LTIP Award Grants

    | ◾ | The number of cash incentive units ultimately earned increases or decreases based on the performance criteria in the following table: |

  50. LTIP Award Grants

    | Matrix of Potential Performance-Based Cash Incentive Unit Payouts (as a % of Initial Award Value) | | | | | | | | | | Cumulative 3-Year Statutory Net Premium Growth Relative to Peer Index | >=80% | 100% | 108% | 117% | 125% | 133% | 142% | 150% | | | 70% | 86% | 100% | 108% | 117% | 125% | 133% | 142% | | | 60% | 72% | 86% | 100% | 108% | 117% | 125% | 133% | | | 50% | 58% | 72% | 86% | 100% | 108% | 117% | 125% | | | 40% | 44% | 58% | 72% | 86% | 100% | 108% | 117% | | | 30% | 30% | 44% | 58% | 72% | 86% | 100% | 108% | | | <=20% | 0% | 30% | 44% | 58% | 72% | 86% | 100% | | | | <=20% | 30% | 40% | 50% | 60% | 70% | >=80% | | | Cumulative 3-Year Statutory Operating Return on Policyholder Surplus Relative to Peer Index | | | | | | | |

  51. LTIP Award Grants

    In establishing the 2025 peer group to compare performance and determine the ultimate number of performance-based cash incentive units earned (the “Cash Incentive Unit Peer Group”), the CHCC sought to include companies with similar premium volume, product mix, geographic operations, and independent insurance agents’ product distribution. The Cash Incentive Unit Peer Group used for 2025 was consistent with that used in 2024. The Cash Incentive Unit Peer Group differs from the Proxy Peer Group, as the Proxy Peer Group also includes companies with which we compete for executive talent. The Cash Incentive Unit Peer Group consists of the following companies:

  52. LTIP Award Grants

    | Auto-Owners Insurance Group | Liberty Mutual Group Inc. | | Cincinnati Financial Corporation | The Hanover Insurance Group, Inc. | | CNA Financial Corporation | United Fire Group, Inc. | | Donegal Insurance Group | Utica National Insurance Group | | Erie Indemnity Company | Westfield Group |

  53. Timing of LTIP Awards

    Timing of LTIP Awards LTIP awards are generally granted each year after Selective releases its year-end results.

  54. 2022 LTIP Award Grant Results

    2022 LTIP Award Grant Results The following table summarizes the achievement of the performance metrics for the 2022 LTIP award grants and the corresponding payout in 2025:

  55. 2022 LTIP Award Grant Results

    | Performance Metrics | Actual Performance Versus Performance Metrics | Percentage Achieved | | 2022 Grant Results | | | | Restricted Stock Units Generate a cumulative non-GAAP operating ROE of at least 12% (computed by excluding from the determination of average equity any unrealized gain occurring after December 31, 2021), or achieve a 5% cumulative growth in policy count or statutory NPW for the period of January 1, 2022 to December 31, 2024. | Achieved a 29% cumulative non-GAAP operating ROE, an 8% cumulative growth in policy count, and a 45% cumulative growth of NPW | 100% | | Cash Incentive Units(1) Cumulative TSR over the three-year performance period, and cumulative three-year statutory NPW growth and statutory operating return on policyholder surplus relative to the peer index for the period of January 1, 2022 to December 31, 2024. | Achieved a TSR of 118.91%, a statutory operating return on policyholder surplus of 32.26%, and NPW growth of 45.15%(2) | 133% of units at $118.91 |

  56. 2022 LTIP Award Grant Results

    (1) Cash incentive unit awards are denominated in units and granted at a target amount, with an initial value of $100. The number and final value of the cash incentive units ultimately earned by the NEOs are variable, depending on the level of achievement of the underlying performance metrics. (2) Selective’s cumulative three-year statutory operating return on policyholder surplus of 32.26% positioned us in the 100th percentile of the Cash Incentive Unit Peer Group. The cumulative three-year statutory NPW growth of 45.15% placed us in the 68.29th percentile of the Cash Incentive Unit Peer Group, resulting in the earning of 133% of the cash incentive units initially granted. Please refer to the Matrix of Potential Performance-Based Cash Incentive Unit Payouts above.

  57. 2025 COMPENSATION ACTIONS FOR THE CEO AND OTHER NEOS

    | ◾ | Grant date value of LTIP award granted in February 2025 was 0.5% higher than his award granted in February 2024; and |

  58. 2025 COMPENSATION ACTIONS FOR THE CEO AND OTHER NEOS

    | ◾ | Total compensation, including salary paid, ACIP payment, and LTIP award, was 6.5% higher in 2025 than 2024. |

  59. 2025 COMPENSATION ACTIONS FOR THE CEO AND OTHER NEOS

    | ◾ | The grant date values of LTIP awards granted in February 2025, compared to LTIP awards granted in February 2024, increased 0.9% for Mr. Eppers and 0.9% for Ms. Hall. Mr. Lanza’s LTIP award was unchanged; |

  60. 2025 COMPENSATION ACTIONS FOR THE CEO AND OTHER NEOS

    | ◾ | Mr. Brennan participated in the ACIP and LTIP for the first time in 2025, as he did not receive an ACIP payment or annual LTIP award for 2024 given his October 2024 hire date. As previously disclosed and in accordance with the terms of his employment agreement, Mr. Brennan received a $464,000 cash payment (the “2024 Cash Make-Whole and Retention Award”)(1) and an equity make-whole and retention award, consisting of time-vested restricted stock units having a three-year vesting period (“2024 Equity Make-Whole and Retention Award”), in each case, in part as a make-whole payment for compensation forfeited for leaving his prior employer; and |

  61. 2025 COMPENSATION ACTIONS FOR THE CEO AND OTHER NEOS

    | ◾ | Total compensation, including salary paid, ACIP payments, and LTIP awards, compared to 2024, increased 6.2% for Mr. Eppers, 6.3% for Ms. Hall, and 6.9% for Mr. Lanza. Mr. Brennan’s total compensation increased by 49.7%, primarily reflecting a full year of salary in 2025, compared to three months of salary in 2024. |

  62. 2025 COMPENSATION ACTIONS FOR THE CEO AND OTHER NEOS

    | ◾ | Supporting the Chief Investment Officer to achieve the after-tax net investment income budget and exceed total return benchmark; |

  63. 2025 COMPENSATION ACTIONS FOR THE CEO AND OTHER NEOS

    | ◾ | Actively managed a diversified, high-quality investment portfolio that supported Selective’s capital needs and long-term objectives; |

  64. 2025 COMPENSATION ACTIONS FOR THE CEO AND OTHER NEOS

    | ◾ | Delivering strong total return results that exceeded the portfolio benchmark; |

  65. EMPLOYMENT AGREEMENTS

    EMPLOYMENT AGREEMENTS SICA has entered into employment agreements with its key executive officers, including the NEOs. Each employment agreement provides for severance in the event of termination: (i) due to death or Disability; (ii) without “Cause”; (iii) due to resignation for “Good Reason” within two years following a “Change in Control” (as each capitalized term is defined in the applicable employment agreement); (iv) due to resignation of the NEO within two years of the Company first imposing a requirement, without the consent of the NEO, that relocates the NEO’s business location more than 50 miles; and (v) for the CEO, a resignation at any time for Good Reason. The CHCC believes these agreements are important for the recruitment and retention of key executives, and its Compensation Consultant advised that the terms of the employment agreements, when executed, were market-competitive within our peer group. Furthermore, after or in connection with a change in control, uncertainty may arise among our key executives regarding their continued employment, possibly leading to their distraction or departure. The purpose of the employment agreements is to retain our key executives and reinforce and encourage their continued attention and dedication during the potentially critical period of a change in control. The change in control provisions of the NEOs’ employment agreements concerning severance payments, outstanding awards under our stock and cash plans, and continued insurance coverages or coverage reimbursement, are triggered following the NEO’s employment termination without Cause or the resignation of the NEO for Good Reason within two years following a change in control. This double trigger ensures that such a payout does not automatically occur upon a change in control only. The employment agreements are described in the section entitled “Employment Agreements and Potential Payments upon Termination or Change in Control” of this Proxy Statement. This section includes information on multipliers used to calculate the severance payment and duration of reimbursement for the cost of certain benefit coverages provided to individual executives upon termination. We believe these multipliers are consistent with each NEO’s level and value of position to the organization. SICA’s current employment agreements do not contain excise tax gross-up provisions.

  66. TAX TREATMENT AND ACCOUNTING

    TAX TREATMENT AND ACCOUNTING Code Section 162(m) generally disallows a federal income tax deduction to public companies for annual compensation over $1 million (per individual) paid to their chief executive officer, chief financial officer, and certain other NEOs. In considering the goals of our executive compensation program in making its compensation decisions, the CHCC retains the flexibility to award compensation it believes to be in Selective’s best long-term interests, even if the awards may not be fully deductible under Code Section 162(m). GAAP requires compensation expense to be measured on the income statement for all stock-based payments at the grant date fair value for equity instruments (including restricted stock unit awards) and at market value on the date of vesting for liability instruments (including cash incentive unit awards). The CHCC has considered the impact of GAAP on our use of stock-based compensation as a retention tool. The CHCC has determined that the current estimated costs of using stock-based compensation relative to the benefits they provide are appropriate and do not warrant any change to our current incentive framework. We have designed our executive compensation programs and awards to be exempt from or, where applicable, comply with the provisions of Section 409A of the Code. For example, if the executives are “specified employees” under Section 409A of the Code, any payments of deferred compensation under our nonqualified deferred compensation plans that are triggered by the executive officer’s separation from service are not payable before the first day of the seventh month after the executive’s date of separation from service.

  67. POLICIES AND PRACTICES RELATED TO THE GRANT OF CERTAIN EQUITY AWARDS CLOSE IN TIME TO THE RELEASE OF MATERIAL NON-PUBLIC INFORMATION

    POLICIES AND PRACTICES RELATED TO THE GRANT OF CERTAIN EQUITY AWARDS CLOSE IN TIME TO THE RELEASE OF MATERIAL NON-PUBLIC INFORMATION In response to Item 402(x)(1) of Regulation S-K, Selective does not currently grant new awards of stock options, stock appreciation rights, or similar option-like instruments. Selective, however, maintains a Policy on Granting Equity and Cash Incentive Unit Awards specifying that Selective will grant LTIP awards, other than new hire awards and interim promotion and retention awards, at a meeting of the CHCC held following the release of the Company’s fourth quarter and year-end earnings results. Under the policy, LTIP awards to Section 16 “officers” must be approved by the CHCC at a meeting or by unanimous written consent. The grant date of any LTIP award approved at a meeting, or by unanimous consent, of the CHCC will be the date of such meeting or unanimous written consent.

  68. SUMMARY COMPENSATION TABLE

    SUMMARY COMPENSATION TABLE The following Summary Compensation Table reflects the compensation earned by or paid to the NEOs during 2025, 2024, and 2023.

  69. SUMMARY COMPENSATION TABLE

    | Name and Principal Position | Year | Salary ($) | Bonus ($) | Stock Awards ($)(1) | Non-Equity Incentive Plan Compensation ($)(2) | Change in Pension Value and Nonqualified Deferred Compensation Earnings ($)(3) | All Othe Compensation ($)(4) | Total ($) | | John J. Marchioni President and Chief Executive Officer | 2025 2024 2023 | 1,050,000 1,042,308 1,000,000 | | 4,000,076 3,979,260 2,764,181 | 1,575,000 1,200,000 2,000,000 | 95,907 – 130,795 | 137,581 93,096 88,850 | 6,858,564 6,314,664 5,983,826 | | Patrick S. Brennan EVP, Chief Financial Officer | 2025 2024 | 658,462 160,000 | 244,000(5) 220,000(5) | 1,154,449 1,052,548 | 750,000 500,000 | – – | 32,346 – | 2,839,257 1,932,548 | | Joseph O. Eppers EVP, Chief Investment Officer | 2025 2024 | 458,461 443,538 | | 597,979 592,386 | 575,000 500,000 | – – | 39,124 38,801 | 1,670,564 1,574,725 | | Brenda M. Hall Former EVP, Chief Operating Officer, Standard Lines | 2025 2024 2023 | 568,462 556,154 529,615 | | 993,333 984,851 636,374 | 465,000 365,000 610,000 | 28,207 – 32,328 | 56,494 51,523 52,192 | 2,111,496 1,957,528 1,860,510 | | Michael H. Lanza EVP, General Counsel and Chief Compliance Officer | 2025 2024 2023 | 599,231 593,769 585,923 | | 550,074 550,068 550,077 | 400,000 305,000 510,000 | 55,648 – 78,462 | 64,934 53,807 52,803 | 1,669,887 1,502,644 1,777,265 |

  70. SUMMARY COMPENSATION TABLE

    (1) This column reflects the aggregate grant date fair value of the 2025, 2024, and 2023 grants of performance-based restricted stock unit awards and 2025, 2024, and 2023 grants of performance-based cash incentive unit awards and, for Mr. Brennan, the grant date fair value of his 2024 Equity Make-Whole and Retention Award. The grants of performance-based restricted stock units generally vest three years from the date of grant, conditioned on the attainment of certain pre-determined performance goals. Grants of performance-based cash incentive unit awards generally vest at the payment date, which is as soon as practicable in the calendar year following the end of the calendar year coincident with the end of the three-year performance period. The value of each cash incentive unit initially awarded increases or decreases to reflect the TSR on Selective common stock over the three-year performance period for the award. For the 2025, 2024, and 2023 performance-based cash incentive unit awards, the number of cash incentive units ultimately earned increases or decreases based on (i) cumulative three-year statutory NPW growth relative to the Cash Incentive Unit Peer Group, and (ii) cumulative three-year statutory operating return on policyholder surplus relative to the Cash Incentive Unit Peer Group. Restricted stock unit and cash incentive unit awards are generally subject to forfeiture should the grantee resign or be terminated for cause prior to vesting. However, restricted stock unit and cash incentive unit awards granted to Messrs. Marchioni, Eppers, and Lanza and Ms. Hall will vest upon attainment of the performance condition only, as they have attained their early retirement ages. The grant date fair values for the performance-based restricted stock unit and performance-based cash incentive unit awards granted to the NEOs are as follows:

  71. SUMMARY COMPENSATION TABLE

    | Name | Year | Performance-Based Restricted Stock Units ($) | Performance-Based Cash Incentive Units ($) | | John J. Marchioni | 2025 2024 2023 | 3,000,076 2,979,260 2,064,181 | 1,000,000 1,000,000 700,000 | | Patrick S. Brennan | 2025 2024 | 854,449 N/A | 300,000 N/A | | Joseph O. Eppers | 2025 2024 | 447,979 442,386 | 150,000 150,000 | | Brenda M. Hall | 2025 2024 2023 | 743,333 734,851 473,874 | 250,000 250,000 162,500 | | Michael H. Lanza | 2025 2024 2023 | 412,574 412,568 412,577 | 137,500 137,500 137,500 |

  72. SUMMARY COMPENSATION TABLE

    The aggregate grant date fair value reported in this column assumes the following: (i) the predetermined performance goals for the restricted stock unit grants are probable of being attained; (ii) initial per unit values for the cash incentive unit awards of $100; and (iii) a 100% peer group unit multiplier for cash incentive unit awards. For further discussion of the fair value calculation of the awards in this column, please refer to Note 16. “Share-Based Payments” to the consolidated financial statements in our 2025 Annual Report. The maximum value assuming the highest level of performance conditions for the performance-based restricted stock units are consistent with the amounts above. Although the maximum number of performance-based cash incentive units potentially issuable is 150% of the original grant for the 2023, 2024, and 2025 grants, the ultimate maximum value of the 2023, 2024, and 2025 grants cannot be determined at this time because the initial value of each unit is adjusted based on the TSR of Selective common stock over the grant’s three-year performance period. Mr. Brennan was not granted performance-based restricted stock unit or performance-based cash incentive unit awards in 2024, as he received the 2024 Equity Make-Whole and Retention Award. (2) Amounts in this column are ACIP awards to the NEOs earned in 2025 and paid in 2026, earned in 2024 and paid in 2025 (except for Mr. Brennan), and earned in 2023 and paid in 2024. These awards were granted under the Cash Incentive Plan. Mr. Brennan did not receive an ACIP payment for 2024; instead, he received the 2024 Make-Whole ACIP Payment given his date of hire in October 2024. (3) Amounts in this column reflect the actuarial increase in the present value of each NEO’s pension benefits under all defined benefit pension plans of SICA, determined using the same interest rate and mortality assumptions as those used for financial statement reporting purposes. There were no changes to the benefit formulas under the defined pension benefit plans in 2025, as the plans were amended to cease further accruals effective as of March 31, 2016. The changes in pension values reported in this column are primarily attributable to a decrease in the discount rate used to calculate present value and the use of the most-recently released mortality tables. Based on Messrs. Brennan’s and Eppers’ hire dates, they are not eligible to participate in SICA’s defined benefit pension plans. There were no above-market or preferential earnings on deferred compensation under SICA’s nonqualified deferred compensation program. (4) For 2025, amounts in this column for each NEO reflect the following, which are based on actual incremental Company costs of providing these items to the NEOs (amounts in this footnote may not exactly match the figures in the Summary Compensation Table due to rounding):

  73. SUMMARY COMPENSATION TABLE

    | ◾ | Mr. Marchioni: $31,500 of company matching contributions and $28,000 of non-elective contributions to his Deferred Compensation Plan account, $15,750 of company matching contributions and $14,000 of non-elective contributions to his 401(k) plan account, $33,488 for company-directed security assessments and services, $4,400 for tax preparation services, and $10,443 for the executive physical examination. |

  74. SUMMARY COMPENSATION TABLE

    | ◾ | Mr. Brennan: $15,750 of company matching contributions and $7,108 of non-elective contributions to his 401(k) plan account, $5,000 for tax preparation services, $3,695 for the executive physical examination service, and $793 for relocation services provided in 2024 that were invoiced and paid in 2025. |

  75. SUMMARY COMPENSATION TABLE

    | ◾ | Mr. Eppers: $4,881 of company matching contributions and $4,338 of non-elective contributions to his Deferred Compensation Plan account, $15,750 of company matching contributions and $14,000 of non-elective contributions to his 401(k) plan account, and $155 in connection with a 10-year service award. |

  76. SUMMARY COMPENSATION TABLE

    | ◾ | Ms. Hall: $9,831 of company matching contributions and $8,738 of non-elective contributions to her Deferred Compensation Plan account, $15,750 of company matching contributions and $14,000 of non-elective contributions to her 401(k) plan account, $2,175 for tax preparation services, and $6,000 for the executive physical examination service. |

  77. SUMMARY COMPENSATION TABLE

    | ◾ | Mr. Lanza: $11,215 of company matching contributions and $9,969 of non-elective contributions to his Deferred Compensation Plan account, $15,750 of company matching contributions and $14,000 of non-elective contributions to his 401(k) plan account, $3,000 for tax preparation services, and $11,000 for the executive physical examination service. |

  78. SUMMARY COMPENSATION TABLE

    (5) Amount reflects the first and second installments of Mr. Brennan’s 2024 Cash Make-Whole and Retention Award that were paid in 2024 and 2025, respectively, pursuant to the terms of his employment agreement.

  79. GRANTS OF PLAN-BASED AWARDS

    GRANTS OF PLAN-BASED AWARDS The following table shows the grants of plan-based awards to our NEOs in 2025.

  80. GRANTS OF PLAN-BASED AWARDS

    | Name | Grant Date | Estimated Future Payouts under Non-Equity Incentive Plan Awards(1) | | | Estimated Future Payouts under Equity Incentive Plan Awards(2) | | | | All other stock awards: number of shares of stock or units (#) | Grant Date Fair Value of Cash Incentive Unit and Restricted Stock Units Awards ($)(4) | | | | | | | Cash Incentive Unit Awards(3) | | | Restricted Stock Unit Awards (#) | | | | | | Thre- shold ($) | Target ($) | Maximum ($) | Thre- shold (#) | Target (#) | Maxi- mum (#) | Maxi- mum (#) | | | | John J. Marchioni | 1/31/2025 | | | | | | | 35,660 | | 3,000,076 | | | 1/31/2025 | | | | 4,400 | 10,000 | 15,000 | | | 1,000,000 | | | | 0 | | 3,675,000 | | | | | | | | Patrick S. Brennan | 1/31/2025 | | | | | | | 10,698 | | 854,449 | | | 1/31/2025 | | | | 1,320 | 3,000 | 4,500 | | | 300,000 | | | | 0 | | 1,650,000 | | | | | | | | Joseph O. Eppers | 1/31/2025 | | | | | | | 5,349 | | 447,979 | | | 1/31/2025 | | | | 660 | 1,500 | 2,250 | | | 150,000 | | | | 0 | | 690,000 | | | | | | | | Brenda M. Hall | 1/31/2025 | | | | | | | 8,915 | | 743,333 | | | 1/31/2025 | | | | 1,100 | 2,500 | 3,750 | | | 250,000 | | | | 0 | | 855,000 | | | | | | | | Michael H. Lanza | 1/31/2025 | | | | | | | 4,904 | | 412,574 | | | 1/31/2025 | | | | 605 | 1,375 | 2,063 | | | 137,500 | | | | 0 | | 900,000 | | | | | | |

  81. GRANTS OF PLAN-BASED AWARDS

    (1) Amounts represent minimum and maximum potential ACIP awards under the Cash Incentive Plan for 2025 based on 2025 base salary rates. Maximum awards reflect the maximum ACIP award established by the CHCC. Actual payouts of the above-referenced awards are included in the Non-Equity Incentive Plan Compensation column of the Summary Compensation Table. For information regarding the ACIP, see the section of the Compensation Discussion and Analysis entitled, “Annual Cash Incentive Program.” (2) Performance-based cash incentive unit awards were granted under the Cash Incentive Plan, and performance-based restricted stock unit awards were granted under the Omnibus Stock Plan. For a description of the material terms of such awards, see the section of the Compensation Discussion and Analysis entitled, “Elements of Long-Term Compensation.” (3) The number of performance-based cash incentive units paid can range from 0%-150%, and therefore, the amount payable could be $0. The threshold selected represents performance compared to the 30th percentile of the Cash Incentive Unit Peer Group, the target represents performance compared to the 50th percentile of the Cash Incentive Unit Peer Group, and the maximum represents performance greater than or equal to the 80th percentile of the Cash Incentive Unit Peer Group. (4) The grant date fair value reported in this column assumes the following: (i) the pre-determined performance goals for the restricted stock unit grants are probable of being attained; (ii) initial per unit values for the cash incentive unit awards of $100; and (iii) a 100% peer group unit multiplier for cash incentive unit awards. For further discussion of the fair value calculation of the awards in this column, please refer to Note 16. “Share-Based Payments” to the consolidated financial statements in our 2025 Annual Report.

  82. OUTSTANDING EQUITY AWARDS AT FISCAL YEAR END

    OUTSTANDING EQUITY AWARDS AT FISCAL YEAR END The following table shows the unvested stock awards of our NEOs as of December 31, 2025:

  83. OUTSTANDING EQUITY AWARDS AT FISCAL YEAR END

    | | Stock Awards | | | | | Name | No. of Shares or Units of Stock That Have Not Vested (#)(1) | Market Value of Shares or Units of Stock That Have Not Vested ($) | Equity Incentive Plan Awards: No. of Unearned Shares, Units or Other Rights That Have Not Vested (#) | Equity Incentive Plan Awards: Market or Payout Value of Unearned Shares, Units or Other Rights That Have Not Vested ($)(8) | | John J. Marchioni | 28,687(2) | 2,853,021(3) | 10,000(4) 31,223(5) 10,000(6) 36,349(7) | 1,305,305 2,612,442 1,368,167 3,041,343 | | Patrick S. Brennan | 12,315(9) | 1,030,401(9) | 3,000(6) 10,905(7) | 410,450 912,403 | | Joseph O. Eppers | 3,587(2) | 356,693(3) | 1,500(4) 4,684(5) 1,500(6) 5,452(7) | 195,796 391,888 205,225 456,202 | | Brenda M. Hall | 6,660(2) | 662,330(3) | 2,500(4) 7,807(5) 2,500(6) 9,087(7) | 326,326 653,175 342,042 760,336 | | Michael H. Lanza | 5,636(2) | 560,481(3) | 1,375(4) 4,294(5) 1,375(6) 4,999(7) | 179,479 359,259 188,123 418,249 |

  84. OUTSTANDING EQUITY AWARDS AT FISCAL YEAR END

    (1) In the event of a termination of employment on or after an individual attains Early Retirement Age, as defined under the 2023, 2024 and 2025 restricted stock unit award agreements (the “Award Early Retirement Age”), holders of performance-based restricted stock unit awards granted in 2023, 2024, and 2025 are vested in such awards subject only to the attainment of applicable performance measures. The respective dates upon which each NEO attained, or is anticipated to attain, their Award Early Retirement Age are as follows: Mr. Marchioni, May 28, 2024; Mr. Brennan, October 1, 2034; Mr. Eppers, March 2, 2025; Ms. Hall, May 28, 2025; and Mr. Lanza, December 16, 2016. (2) Reflects number of performance-based restricted stock units initially granted on February 6, 2023, and the related accrued DEUs, which were vested and paid on February 6, 2026. Also reflects number of performance-based cash incentive units initially granted on February 6, 2023, to the NEOs for the three-year performance period ended December 31, 2025, which vested on February 6, 2026. In the event of a termination of employment on or after an individual’s Award Early Retirement Age, holders of such awards are vested in such awards, with the initial number of units and the value of each unit subject to adjustment, based on the attainment of specified performance measures. Award Early Retirement Age dates for the NEOs are set forth in footnote 1. Settlement of the 2023 cash incentive unit awards will be made as soon as practicable in the 2026 calendar year, following the determination of the attainment of the applicable performance measures. The amounts reflected in this column are attributable to the number of performance-based restricted stock units and related accrued DEUs as follows: Mr. Marchioni, 21,687; Mr. Eppers, 2,712; Ms. Hall, 5,035; and Mr. Lanza, 4,261. The amounts reflected in this column are attributable to the number of performance-based cash incentive units as follows: Mr. Marchioni, 7,000; Mr. Eppers, 875; Ms. Hall, 1,625; and Mr. Lanza, 1,375. (3) Reflects a $83.67 per unit value and a $98.90 per unit value for the restricted stock units and cash incentive units, respectively, granted on February 6, 2023. The amounts assume maximum performance level for the cash incentive units. (4) Reflects number of performance-based cash incentive units initially granted on February 2, 2024, to the NEOs for the three-year performance period ending December 31, 2026, which generally will vest on February 2, 2027, following the determination of the attainment of the applicable performance measures. In the event of a termination of employment on or after an individual’s Award Early Retirement Age, holders of such awards are vested in such awards, with the initial number of units and the value of each unit subject to adjustment, based on the attainment of specified performance measures. Award Early Retirement Age dates for the NEOs are set forth in footnote 1. Settlement of the 2024 cash incentive unit awards will be made as soon as practicable in the 2027 calendar year, following the determination of the attainment of the applicable performance measures. (5) Reflects number of performance-based restricted stock units initially granted on February 2, 2024, and the related accrued DEUs for which the applicable performance measures will be evaluated as of December 31, 2026, which generally will vest and be payable on February 2, 2027. (6) Reflects number of performance-based cash incentive units initially granted on January 31, 2025, to the NEOs for the three-year performance period ending December 31, 2027, which generally will vest on January 31, 2028, following the determination of the attainment of the applicable performance measures. In the event of a termination of employment on or after an individual’s Award Early Retirement Age, holders of such awards are vested in such awards, with the initial number of units and the value of each unit subject to adjustment, based on the attainment of specified performance measures. Award Early Retirement Age dates for the NEOs are set forth in footnote 1. Settlement of the 2025 cash incentive unit awards will be made as soon as practicable in the 2028 calendar year, following the determination of the attainment of the applicable performance measures. (7) Reflects number of performance-based restricted stock units initially granted on January 31, 2025, and the related accrued DEUs: (i) for which the attainment of the applicable performance measures will be calculated at the end of the performance period on December 31, 2027 and (ii) that generally will vest and be payable on January 31, 2028, subject to the attainment of the applicable performance measures. (8) The amounts in this column reflect: (i) a $87.02 per unit value for the February 2, 2024 cash incentive unit grant, and a $91.21 per unit value for the January 31, 2025 cash incentive unit grant based on the TSR of Selective common stock at December 31, 2025 and (ii) an $83.67 per unit value for the February 2, 2024 and January 31, 2025 restricted stock unit grants. The amounts assume maximum performance for the cash incentive units. (9) Amount reflects Mr. Brennan’s 2024 Equity Make-Whole and Retention Award, which will vest on the third anniversary of the grant date of October 8, 2024.

  85. OPTION EXERCISES AND STOCK VESTED

    OPTION EXERCISES AND STOCK VESTED The following table shows the stock vesting of awards by our NEOs in 2025:

  86. OPTION EXERCISES AND STOCK VESTED

    | | Stock Awards | | | Name | Number of Shares Acquired on Vesting (#)(1) | Value Realized on Vesting ($)(2) | | John J. Marchioni | 36,302 | 3,396,680 | | Patrick S. Brennan | - | - | | Joseph O. Eppers | 3,430 | 320,932 | | Brenda M. Hall | 8,068 | 754,897 | | Michael H. Lanza | 7,060 | 660,592 |

  87. OPTION EXERCISES AND STOCK VESTED

    (1) Amounts in this column include the number of performance-based restricted stock units and related accrued DEUs that vested in 2025, and performance-based cash incentive units paid in 2025. The amounts reflected in this column are attributable to the number of performance-based restricted stock units and related accrued DEUs as follows: Mr. Marchioni, 27,325; Mr. Eppers, 2,581; Ms. Hall, 6,073; and Mr. Lanza, 5,314. The amounts reflected in this column are attributable to the number of performance-based cash incentive units as follows: Mr. Marchioni, 8,977; Mr. Eppers, 849; Ms. Hall, 1,995; and Mr. Lanza, 1,746. (2) Amounts in this column include the value of performance-based restricted stock units and related accrued DEUs that vested in 2025, and the amount paid for performance-based cash incentive units in 2025. The amounts reflected in this column are attributable to the number of performance-based restricted stock units and related accrued DEUs as follows: Mr. Marchioni, 2,329,166; Mr. Eppers, 220,032; Ms. Hall, 517,671; and Mr. Lanza, 452,940. The amounts reflected in the table attributable to performance-based cash incentive units are as follows: Mr. Marchioni, 1,067,514; Mr. Eppers, 100,900; Ms. Hall, 237,226; and Mr. Lanza, 207,652.

  88. PENSION BENEFITS

    PENSION BENEFITS SICA maintains a tax-qualified, non-contributory defined benefit pension plan, the Retirement Income Plan. Many SICA employees, including Mr. Marchioni, Ms. Hall, and Mr. Lanza, and certain former employees whose employment commenced on or before December 31, 2005, are eligible to receive benefits under the Retirement Income Plan. SICA also maintains the unfunded Selective Insurance Supplemental Pension Plan (“SERP”) to provide supplemental benefits to certain executives and other participants in the Retirement Income Plan equal to the difference between: (i) the benefits payable to these participants under the Retirement Income Plan, calculated without regard to Code limitations on annual amounts payable under the Retirement Income Plan; and (ii) the actual benefits payable to these participants under the Retirement Income Plan. Benefits under the Retirement Income Plan and SERP were curtailed in the first quarter of 2013, when both plans were amended to cease accrual of additional benefits for all participants as of March 31, 2016. Participants as of March 31, 2016, remain entitled to the benefits already earned but have not earned additional benefits since that date. The Retirement Income Plan was amended as of July 1, 2002, to provide for different calculations based on age and company service as of that date. Monthly benefits payable at normal retirement age under the Retirement Income Plan and the SERP for the NEOs are computed as follows. Defined terms used in this section, but not defined in this Proxy Statement, have the meanings given to them in the Retirement Income Plan.

  89. PENSION BENEFITS

    | 1. | If a participant: (i) completed at least five years of Vesting Service on or before July 1, 2002; and (ii) the sum of a participant’s age and Vesting Service is 55 or more on or before July 1, 2002, a participant’s benefit is equal to the sum of: (a) 2% of Average Monthly Compensation (base salary), less 1 3/7% of Primary Social Security benefit multiplied by the number of years of Benefit Service through June 30, 2002 (up to 35 years) reduced by the monthly amount, if any, of retirement annuity payable under the group annuity contract issued by AXA Equitable Life Insurance Company that was purchased under a prior terminated defined benefit pension plan, based on Benefit Service as of June 30, 2002, but including compensation earned after such date; and (b) 1.2% of Average Monthly Compensation multiplied by the number of years of Benefit Service after June 30, 2002. |

  90. PENSION BENEFITS

    | 2. | If a participant first became eligible for the plan before July 1, 2002, but did not qualify for 1 above, the participant’s benefit is equal to the greater of: (i) the benefit accrued as of June 30, 2002 equal to 2% of Average Monthly Compensation less 1 3/7% of Primary Social Security Benefit multiplied by years of Benefit Service reduced by the monthly amount, if any, of retirement annuity payable under the group annuity contract issued by AXA Equitable Life Insurance Company that was purchased under a prior terminated defined benefit pension plan, based on Benefit Service as of June 30, 2002, but including compensation earned after such date for purposes of determining the participant’s Average Monthly compensation; and (ii) 1.2% of Average Monthly Compensation multiplied by years of Benefit Service. |

  91. PENSION BENEFITS

    | 3. | If a participant first became a participant in the plan after July 1, 2002, the benefit is equal to 1.2% of Average Monthly Compensation multiplied by years of Benefit Service. |

  92. PENSION BENEFITS

    The earliest retirement age is 55 with 10 years of service or the attainment of 70 points (age plus years of service). If a participant chooses to begin receiving benefits before their 65th birthday, the amount of the monthly benefit will be reduced as follows:

  93. PENSION BENEFITS

    | ◾ | By 1/180th for each complete calendar month for the first 60 months by which the first early retirement benefit payment precedes the attainment of Normal Retirement Age (age 65); |

  94. PENSION BENEFITS

    | ◾ | By 1/360th for each complete calendar month for the next 60 months by which the first early retirement benefit payments precede Normal Retirement Age; and |

  95. PENSION BENEFITS

    | ◾ | By 40% plus 1/600th per month for each month before age 55. |

  96. PENSION BENEFITS

    At retirement, participants receive monthly pension payments. There are four optional forms of payments that can be chosen as alternatives to the normal form of payment, which for a married participant is an automatic 50% joint and surviving spouse annuity, and for an unmarried participant is a single life annuity. The following table shows information regarding the pension benefits of our NEOs. Based on Mr. Brennan’s hire date of October 1, 2024, and Mr. Eppers’ hire date of March 2, 2015, they are not eligible to participate in the Retirement Income Plan or the SERP:

  97. PENSION BENEFITS

    | Name(1) | Plan Name | Number of Years Credited Service (#)(2) | Present Value of Accumulated Benefit ($)(3) | Payments During Last Fiscal Year ($) | | John J. Marchioni | Retirement Income Plan | 17.25 | 414,884 | – | | | SERP | 17.25 | 672,020 | – | | Brenda M. Hall | Retirement Income Plan | 13.42 | 298,531 | – | | | SERP | 13.42 | 12,849 | – | | Michael H. Lanza | Retirement Income Plan | 10.67 | 381,076 | – | | | SERP | 10.67 | 363,984 | – |

  98. PENSION BENEFITS

    (1) Messrs. Marchioni and Lanza and Ms. Hall have attained their early retirement ages under the terms of the Retirement Income Plan and the SERP. (2) The Retirement Income Plan imposes a one-year waiting period for plan participation, which year is not included in years of credited service. (3) Present value as of December 31, 2025, is calculated based on Normal Retirement Age of 65 using a 5.48% discount rate. For further discussion, see Note 15. “Retirement Plans” to the consolidated financial statements in our 2025 Annual Report.

  99. NONQUALIFIED DEFERRED COMPENSATION

    NONQUALIFIED DEFERRED COMPENSATION The Deferred Compensation Plan allows participants to defer receipt of up to 50% of base salary and up to 100% of their annual bonus (subject to certain limitations to provide for required tax withholding). Participant accounts are credited with a notional rate of return (positive or negative) based on the performance of investment options selected by the participants from a menu of notional investment options. Participants can elect to schedule in-service withdrawals or withdrawals upon separation from service. SICA makes matching contributions to a participant’s Deferred Compensation Plan account to supplement matching contributions under the Retirement Savings Plan. For 2025, such matching contributions consisted of 100% of the first 3% of base salary and 50% of the next 3% of base salary deferred to the Retirement Savings Plan and the Deferred Compensation Plan together, minus any matching contribution made to a participant’s Retirement Savings Plan account. Effective January 1, 2010, the Deferred Compensation Plan was amended for participants ineligible to participate in the Retirement Income Plan to provide a non-elective contribution to the extent not made to a participant’s Retirement Savings Plan account due to limitations under the Code and the Retirement Savings Plan. The non-elective contribution to the Deferred Compensation Plan is equal to 4% of a participant’s base salary, minus any non-elective contribution made to the Retirement Savings Plan. In conjunction with the amendment of the Retirement Income Plan and the SERP to cease accrual of further benefits under those plans effective as of March 31, 2016, all participants affected by the curtailment, including the NEOs, became eligible for the non-elective contribution effected on April 5, 2013. The following table shows information regarding nonqualified deferred compensation of our NEOs:

  100. NONQUALIFIED DEFERRED COMPENSATION

    | Name | Executive Contributions in 2025 ($)(1) | Company Contributions in 2025 ($)(2) | Aggregate Earnings in 2025 ($)(3) | Aggregate Withdrawals/ Distributions ($) | Aggregate Balance at December 31, 2025 ($)(4) | | John J. Marchioni | 42,000 | 59,271 | 295,338 | – | 2,363,286 | | Patrick S. Brennan | - | - | - | – | - | | Joseph O. Eppers | 72,923 | 8,376 | 62,078 | – | 420,895 | | Brenda M. Hall | 83,173 | 17,948 | 157,825 | – | 1,232,357 | | Michael H. Lanza | 60,354 | 21,145 | 269,682 | – | 1,740,842 |

  101. NONQUALIFIED DEFERRED COMPENSATION

    (1) Amounts in this column are attributable to (i) 2025 salaries deferred by Messrs. Marchioni, Eppers, and Lanza and Ms. Hall, which are included in the Salary column of the Summary Compensation Table and (ii) 2024 ACIP awards credited in 2025 deferred by Messrs. Eppers and Lanza and Ms. Hall, which are included in the Non-Equity Incentive Plan Compensation column of the Summary Compensation Table. (2) Amounts in this column are included in the All Other Compensation column of the Summary Compensation Table for the year in which they were paid. (3) Amounts in this column are not included in the Summary Compensation Table because such earnings or losses were not above-market or preferential. (4) The following amounts represent NEO and SICA contributions to the Deferred Compensation Plan that were reported as compensation in the Summary Compensation Table for fiscal 2025 and previous fiscal years, commencing with fiscal year 2009 for Mr. Lanza: $787,557; fiscal year 2010 for Mr. Marchioni: $1,033,896; fiscal year 2021 for Ms. Hall: $295,227; and fiscal year 2024 for Mr. Eppers: $133,367. The All Other Compensation column of the Summary Compensation Table includes company matching contributions under the Deferred Compensation Plan added to the NEOs account in 2026 with respect to compensation earned in plan-year 2025.

  102. EMPLOYMENT AGREEMENTS AND POTENTIAL PAYMENTS UPON TERMINATION OR CHANGE IN CONTROL

    EMPLOYMENT AGREEMENTS AND POTENTIAL PAYMENTS UPON TERMINATION OR CHANGE IN CONTROL SICA entered into employment agreements or amended employment agreements, as applicable, with: (i) Mr. Marchioni, commencing as of February 1, 2020, in connection with his appointment as President and Chief Executive Officer; (ii) Mr. Brennan, commencing as of October 1, 2024, in connection with his appointment as Executive Vice President and Chief Financial Officer; (iii) Mr. Eppers, commencing as of February 28, 2022, in connection with his promotion to Executive Vice President; (iv) Ms. Hall, commencing as of September 30, 2019, in connection with her promotion to Executive Vice President; and (v) Mr. Lanza, commencing as of March 2, 2020, to conform his agreement to SICA’s current terms (collectively, the “Employment Agreements”). The following tables summarize the principal provisions of the Employment Agreements.

  103. EMPLOYMENT AGREEMENTS AND POTENTIAL PAYMENTS UPON TERMINATION OR CHANGE IN CONTROL

    | Term | Initial three-year term, automatically renewed for additional one-year periods unless terminated by either party with written notice.(1) | | Compensation | Base salary.(2) | | Benefits | Eligible to participate in cash incentive compensation plan, stock plan, 401(k) plan, and any other stock option, stock appreciation right, stock bonus, pension (based on date of hire), group insurance, retirement, profit sharing, medical, disability, accident, life insurance, relocation plan or policy, or any other plan, program, policy or arrangement of Selective or SICA intended to benefit SICA’s employees generally. | | Vacation and Reimbursements | Vacation time and reimbursements for ordinary travel and entertainment expenses per SICA’s policies. | | Perquisites | Suitable offices, administrative and other services, and other perquisites to which other SICA executives are generally entitled. | | Severance and Benefits on Termination without Change in Control | ◾ For Cause or Resignation by NEO other than for Good Reason: Salary and benefits accrued through termination date. ◾ Death or Disability: Multiple(3) of: (i) NEO’s salary; plus (ii) average of three most recent annual cash incentive payments; provided that any such severance payments be reduced by life or disability insurance payments under policies with respect to which SICA paid premiums, paid in 12 equal installments. ◾ Without Cause by SICA, Relocation of Office over 50 Miles (without NEO’s consent), Resignation for Good Reason by CEO: ◾ Multiple(3) of: (i) NEOs salary; plus (ii) average of three most recent annual cash incentive payments paid in 12 equal installments. ◾ Partial reimbursement for the cost of medical, dental, and vision insurance coverage in effect for NEO and dependents until the earlier of specified period of months(4) following termination or commencement of equivalent benefits from a new employer. ◾ Stock Awards: Except for termination for Cause or resignation by the NEO other than for Good Reason, immediate vesting and possible extended exercise period, as applicable, for any previously granted stock options, stock appreciation rights, cash incentive units, restricted stock, restricted stock units, and stock bonuses. |

  104. EMPLOYMENT AGREEMENTS AND POTENTIAL PAYMENTS UPON TERMINATION OR CHANGE IN CONTROL

    | Severance and Benefits on Termination after Change in Control | For termination without Cause or resignation for Good Reason for: (i) CEO at any time; or (ii) other NEO within two years following a Change in Control (as defined in the Employment Agreement), NEO is entitled to: ◾ Severance payment equal to multiple(5) of the greater of: (i) NEO’s salary plus target annual cash incentive payment; or (ii) NEO’s salary plus the average of NEO’s annual cash incentive payments for the three calendar years prior to the calendar year in which the termination occurs, paid in lump sum. ◾ Partial reimbursement for the cost of medical, dental, and vision insurance coverage in effect for NEO and dependents until the earlier of a period of months(6) following termination or commencement of equivalent benefits from a new employer. ◾ Stock awards, same as above, except that the initial number of cash incentive units is multiplied by 150%. | | Release; Confidentiality and Non-Solicitation | ◾ Receipt of severance payments and benefits conditioned upon: ◾ Entry into release of claims; and ◾ No disclosure of confidential or proprietary information, or solicitation of employees to leave Selective or its subsidiaries for a period of two years following the termination of the Employment Agreement, and assignment of intellectual property rights. |

  105. EMPLOYMENT AGREEMENTS AND POTENTIAL PAYMENTS UPON TERMINATION OR CHANGE IN CONTROL

    (1) The initial three-year term ended or will end as follows:

  106. EMPLOYMENT AGREEMENTS AND POTENTIAL PAYMENTS UPON TERMINATION OR CHANGE IN CONTROL

    | NEO | Date | | John J. Marchioni | January 31, 2023 | | Patrick S. Brennan | October 1, 2027 | | Joseph O. Eppers | February 28, 2025 | | Brenda M. Hall | September 30, 2022 | | Michael H. Lanza | March 2, 2023 |

  107. EMPLOYMENT AGREEMENTS AND POTENTIAL PAYMENTS UPON TERMINATION OR CHANGE IN CONTROL

    (2) The annual base salary rates for the NEOs, as of February 23, 2025, were as follows: Mr. Marchioni, $1,050,000; Mr. Brennan, $660,000; Mr. Eppers, $460,000; Ms. Hall, $570,000; and Mr. Lanza, $600,000. (3) For Mr. Marchioni, the multiple is two, and for Messrs. Brennan, Eppers, and Lanza and Ms. Hall, the multiple is 1.5. (4) For Mr. Marchioni, the period is 24 months, and for Messrs. Brennan, Eppers, and Lanza and Ms. Hall, the period is 18 months. (5) For Mr. Marchioni, the multiple is 2.99. For Messrs. Brennan, Eppers, and Lanza and Ms. Hall, the calculation for the severance payment is 1.5 times the sum of the NEO’s salary and the average of the NEO’s annual cash incentive payments for the three calendar years prior to the calendar year in which the termination occurs. (6) For Mr. Marchioni, the period is 36 months, and for Messrs. Brennan, Eppers, and Lanza and Ms. Hall, the period is 18 months. The following table shows information regarding payments and benefits to which our NEOs would be entitled under the terms of their respective Employment Agreements and the scenarios shown as of December 31, 2025:

  108. EMPLOYMENT AGREEMENTS AND POTENTIAL PAYMENTS UPON TERMINATION OR CHANGE IN CONTROL

    | Name | Resignation(1) or Termination For Cause ($) | Retirement ($)(2) | Death or Disability ($)(3) | Termination without Cause or Resignation with Good Reason ($)(4) | Termination Following Change in Control ($)(5) | | John J. Marchioni | – | 9,942,963 | 15,576,296 | 15,627,294 | 22,245,025 | | Patrick S. Brennan | – | 2,239,511 | 3,479,511 | 3,517,735 | 3,416,088 | | Joseph O. Eppers | – | 1,428,860 | 2,818,860 | 2,861,424 | 2,988,367 | | Brenda M. Hall(6) | – | 2,441,062 | 4,088,562 | 4,126,786 | 4,552,433 | | Michael H. Lanza | – | 1,515,062 | 3,087,562 | 3,125,786 | 3,453,815 |

  109. EMPLOYMENT AGREEMENTS AND POTENTIAL PAYMENTS UPON TERMINATION OR CHANGE IN CONTROL

    (1) Other than a resignation for Good Reason. (2) This column includes the value of earned and unearned performance-based restricted stock units granted under the Omnibus Stock Plan and any related accrued DEUs. These performance-based awards would normally vest upon: (i) achievement of early or normal retirement eligibility or continuation in service through the end of the applicable performance period; and (ii) the achievement of the specified performance goals applicable to each such award and be payable following the end of the applicable three-year performance period. As each of Messrs. Marchioni, Eppers, and Lanza and Ms. Hall have attained their early retirement ages, their respective restricted stock unit awards have vested, but their ultimate payment value will only be determined upon achievement of each award’s applicable performance condition. This column also includes the value of performance-based cash incentive units awarded under the Cash Incentive Plan to the NEOs. The value of such awards is calculated using: (i) the target 100% unit multiplier for the number of cash incentive units granted; and (ii) the per unit value at December 31, 2025. Under the Cash Incentive Plan, the NEOs’ awards would fully vest upon achievement of early or normal retirement eligibility or continuation in service through the end of the payment date and be payable following the end of the applicable three-year performance period. As Messrs. Marchioni, Eppers, and Lanza and Ms. Hall have attained their early retirement ages, their respective cash incentive unit awards have vested, but their ultimate payment value will only be determined upon achievement of each award’s applicable performance conditions. (3) This column includes the value of unvested performance-based restricted stock units granted under the Omnibus Stock Plan and any related accrued DEUs. In the event of total disability, these performance-based awards would normally vest for all the NEOs upon the achievement of the specified performance goals applicable to each such award and be payable following the end of the applicable three-year performance period. In the event of death, these performance-based awards are immediately vested and payable for all the NEOs. This column also includes the value of performance-based cash incentive units awarded under the Cash Incentive Plan to the NEOs. The value of such awards is calculated using: (i) the target 100% unit multiplier for the number of cash incentive units granted; and (ii) the per unit value at December 31, 2025. Under the Cash Incentive Plan, in the event of death or total disability, the NEOs’ awards would fully vest and be payable following the end of the applicable three-year performance period. This column also includes the cash severance payment provided for in each NEO’s Employment Agreement. (4) This column includes the value of unvested performance-based restricted stock units granted under the Omnibus Stock Plan and any related accrued DEUs. These performance-based awards would normally vest upon: (i) a termination without Cause or resignation for Good Reason; and (ii) the achievement of the specified performance goals applicable to each such award and be payable following the end of the applicable three-year performance period. This column also includes the value of performance-based cash incentive units awarded under the Cash Incentive Plan to the NEOs. The value is calculated using: (i) the target 100% unit multiplier for the number of cash incentive units granted; and (ii) the per unit value at December 31, 2025. The cash incentive unit awards would fully vest and be payable following the end of the applicable three-year performance period. This column also includes the cash severance payment and the value of applicable medical, dental, and vision coverages, as provided for in each respective NEO’s Employment Agreement. (5) This column includes the value of unvested performance-based restricted stock units granted under the Omnibus Stock Plan, and any related accrued DEUs, which would immediately vest and be payable upon a termination of employment within two years following a change in control. This column also includes the value of performance-based cash incentive units awarded under the Cash Incentive Plan to the NEOs, all of which would vest upon a termination of employment within two years following a change in control. The value of such awards is calculated using: (i) a 150% per unit multiplier; and (ii) the per unit value at December 31, 2025. This column also includes the cash severance payment and the value of applicable medical, dental, and vision coverages, as provided for in each NEO’s Employment Agreement. (6) Ms. Hall retired on January 5, 2026, and is therefore no longer eligible for any such payments.

  110. CEO PAY RATIO

    CEO PAY RATIO Section 953(b) of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (the “Dodd-Frank Act”) and Item 402(u) of Regulation S-K requires us to provide the ratio of the annual total compensation of our CEO, Mr. Marchioni, to that of our median employee. The assumptions, estimates, and methodologies that we used for this pay ratio disclosure may differ from those used by other companies. As a result, the following information may not be directly comparable to the information provided by other companies in our peer group or otherwise. The pay ratio included in this information is a reasonable estimate calculated in a manner consistent with Item 402(u) of Regulation S-K. SEC rules require us to identify a new median employee at least once every three years. During 2025 and 2024, there were no changes to our employee population or our employee compensation arrangements that we believed would significantly impact our pay ratio disclosure, however our previous median employee departed the organization. Accordingly, a new median employee was determined for 2025. We identified the median employee by tabulating 2025 W-2 Medicare Wages on December 31, 2025. In our analysis, we included all employees employed by us on December 31, 2025, whether employed full-time, part-time, or seasonally, excluding the CEO. We did not make any adjustments or annualize compensation for employees we did not employ for all of 2025. We believe using W-2 Medicare Wages is a consistent and straightforward methodology that we can easily replicate in future years. This methodology is consistent with our approach for identifying the previous median employee. Mr. Marchioni’s 2025 total compensation was $6,848,121 (reflected in the Summary Compensation Table), and our median employee’s 2025 total compensation was $118,344. Mr. Marchioni’s 2025 total compensation was approximately 58 times that of our median employee.

  111. PAY VERSUS PERFORMANCE

    PAY VERSUS PERFORMANCE The table below discloses “Compensation Actually Paid” (“CAP”), calculated under SEC rules, for (i) Selective’s principal executive officer (“PEO”) and (ii) Selective’s NEOs other than the PEO, on an average basis, as well as certain financial performance measures for Selective for the past five fiscal years. Consistent with SEC rules, Selective has identified GAAP combined ratio as its “Company-Selected Measure,” an accepted insurance industry standard of profitability. Selective believes this measure is the most important financial performance measure used to link CAP to company performance. GAAP combined ratio is a key component of Selective’s compensation program, as described in our Compensation Discussion and Analysis section above.

  112. Pay Versus Performance Table

    Pay Versus Performance Table

  113. Pay Versus Performance Table

    | | | | | | Value of Initial Fixed $100 Investment Based On: | | | | | Fiscal Year (a) | Summary Compensation Table (“SCT”) Total for PEO ($)(1) (b) | CAP to PEO ($)(1)(2) (3)(c) | Average SCT Total for Non- PEO NEOs ($)(4) (d) | Average CAP to Non-PEO NEOs ($)(2)(4)(5) (e) | Total Share- Holder Return ($)(6) (f) | Peer Group Total Share- holder Return ($)(6) (g) | Net Income ($) (In Thou- sands) (h) | GAAP Comb- ined Ratio (%) (i) | | 2025 | 6,858,564 | 6,114,097 | 2,072,801 | 1,969,498 | 134.47 | 181.29 | 466,411 | 97.2 | | 2024 | 6,314,664 | 5,813,139 | 1,702,268 | 1,648,875 | 147.43 | 174.85 | 207,012 | 103.0 | | 2023 | 5,983,826 | 7,598,807 | 1,603,837 | 992,458 | 154.53 | 135.82 | 365,238 | 96.5 | | 2022 | 5,810,187 | 7,100,961 | 1,958,112 | 2,282,919 | 135.96 | 120.69 | 224,886 | 95.1 | | 2021 | 5,435,625 | 7,471,943 | 1,889,803 | 2,490,130 | 123.98 | 113.93 | 403,837 | 92.8 |

  114. Pay Versus Performance Table

    (1) The dollar amounts reported in column (b) are the amounts of total compensation reported for the Company’s PEO for each corresponding fiscal year in the “Total” column of the SCT. Mr. Marchioni served as PEO during 2025, 2024, 2023, 2022, and 2021. (2) Consistent with SEC rules, we made the following adjustments to the SCT totals for NEOs to calculate CAP amounts:

  115. Pay Versus Performance Table

    | ◾ | Deducted the actuarial increase in the present value of each applicable NEO’s pension benefits under SICA’s defined benefit pension plans, which represented changes in pension values primarily attributable to an increase in the discount rate used to calculate present value and the use of the most-recently released mortality tables. See tables below for quantitative detail for the PEO and non-PEO NEOs. |

  116. Pay Versus Performance Table

    | ◾ | Added changes in pension values attributable to current years’ service and any change in pension value attributable to plan amendments made during each fiscal year. Our pension plan is closed to new entrants and existing participants ceased accruing benefits after March 31, 2016. There were no amendments to the pension plan in each fiscal year that changed pension values. |

  117. Pay Versus Performance Table

    | ◾ | Deducted the grant date fair values for the performance-based restricted stock unit (“RSU”) and performance-based cash incentive unit (“CIU”) awards granted to the NEOs. See tables below for quantitative detail for the PEO and non-PEO NEOs. |

  118. Pay Versus Performance Table

    | ◾ | Added the fair values of performance-based RSU (and related accrued dividend equivalent units) and performance-based CIU awards granted to the NEOs in each year, valued as of each fiscal year end. See tables below for quantitative detail for the PEO and non-PEO NEOs. |

  119. Pay Versus Performance Table

    | ◾ | Added the year-over-year change in fair value of the prior years’ unvested performance-based RSU (and related accrued dividend equivalent units) and performance-based CIU awards, and the awards that vested during each fiscal year. See tables below for quantitative detail for the PEO and non-PEO NEOs. |

  120. Pay Versus Performance Table

    Additionally, assumptions made in the valuation of the 2025, 2024, 2023, 2022, and 2021 grants of performance-based RSU awards, and the 2025, 2024, 2023, 2022, and 2021 grants of performance-based CIU awards that differ materially from those disclosed as of the grant date of such awards include adjustment of:

  121. Pay Versus Performance Table

    | ◾ | Selective’s common stock price per share and reinvested dividends to reflect the measurement date value (instead of the common stock price per share and reinvested dividends at grant date). Measurement date represents each fiscal year end or the date of vesting for those awards that vested in each fiscal year. |

  122. Pay Versus Performance Table

    | ◾ | Per unit values for the performance-based CIU awards for the TSR value at the measurement date (instead of using the initial per unit value of $100). |

  123. Pay Versus Performance Table

    | ◾ | The peer group multiplier for CIU awards to reflect the Monte Carlo valuation received at the measurement date, recorded on a one-quarter lag (instead of using the initial peer group multiplier of 100%). |

  124. Pay Versus Performance Table

    (3) The following table reconciles SCT Total for PEO (b) to Total CAP to PEO (c):

  125. Pay Versus Performance Table

    | PEO (c): | Fiscal Year 2025 | Fiscal Year 2024 | Fiscal Year 2023 | Fiscal Year 2022 | Fiscal Year 2021 | | SCT Total ($) (A) | 6,858,564 | 6,314,664 | 5,983,826 | 5,810,187 | 5,435,625 | | Deducted from SCT: Pension Value and Nonqualified Deferred Compensation Earnings ($) (B) | 95,907 | – | 130,795 | – | – | | Added to CAP: Pension Value Attributable to Fiscal Years’ Service and Plan Amendments ($) (C) | – | – | – | – | – | | Deducted from SCT: Grant Date Fair Value of Awards ($) (D) | 4,000,076 | 3,979,260 | 2,764,181 | 2,628,160 | 2,124,100 | | Added to CAP: Fair Value of Awards Granted in Fiscal Year ($)(a) (E) | 4,254,451 | 4,044,688 | 3,264,588 | 3,420,746 | 3,075,273 | | Added to CAP: Change in Fair Value of Prior Years’ Unvested Awards ($)(a) (F) | (676,686) | (496,125) | 1,001,299 | 584,812 | 1,093,366 | | Added to CAP: Change in Fair Value of Prior Years’ Awards that Vested in Fiscal Year ($)(a) (G) | (226,249) | (70,828) | 244,070 | (86,623) | (8,221) | | Total CAP (A - B + C - D + E + F + G) | 6,114,097 | 5,813,139 | 7,598,807 | 7,100,961 | 7,471,943 |

  126. Pay Versus Performance Table

    (a) The table below shows information on performance-based RSU awards and performance-based CIU awards previously granted to PEO (c).

  127. Pay Versus Performance Table

    | PEO (c): | | | | | | Fiscal Year | Fair Value of Equity Awards Granted in Fiscal Year at Fiscal Year End ($) | Change in Fair Value of Prior Years’ Awards Unvested ($) | Change in Fair Value of Prior Years’ Awards that Vested in Fiscal Year ($) | Equity Fair Value Included in Compensation Actually Paid ($) | | 2025 | | | | | | RSUs | 3,041,343 | (427,336) | (226,249) | 2,387,758 | | CIUs | 1,213,108 | (249,350) | – | 963,758 | | Total | 4,254,451 | (676,686) | (226,249) | 3,351,516 | | 2024 | | | | | | RSUs | 2,864,620 | (186,201) | (70,828) | 2,607,591 | | CIUs | 1,180,068 | (309,924) | – | 870,144 | | Total | 4,044,688 | (496,125) | (70,828) | 3,477,735 | | 2023 | | | | | | RSUs | 2,071,218 | 696,533 | 244,070 | 3,011,821 | | CIUs | 1,193,370 | 304,766 | – | 1,498,136 | | Total | 3,264,588 | 1,001,299 | 244,070 | 4,509,957 | | 2022 | | | | | | RSUs | 2,310,409 | 406,192 | (86,623) | 2,629,977 | | CIUs | 1,110,337 | 178,620 | – | 1,288,957 | | Total | 3,420,746 | 584,812 | (86,623) | 3,918,934 | | 2021 | | | | | | RSUs | 2,052,416 | 598,684 | (36,748) | 2,614,352 | | CIUs | 1,022,857 | 494,682 | 28,527 | 1,546,066 | | Total | 3,075,273 | 1,093,366 | (8,221) | 4,160,419 |

  128. Pay Versus Performance Table

    (4) The dollar amounts reported in column (d) are the average amounts of total compensation reported for the Non-PEO NEOs for each corresponding fiscal year in the “Total” column of the SCT. For 2025, the Non-PEO NEOs were Messrs. Brennan, Eppers, and Lanza and Ms. Hall. For 2024, the Non-PEO NEOs were Messrs. Brennan, Harnett, Eppers, and Lanza and Ms. Hall. For 2023, the Non-PEO NEOs were Messrs. Harnett, Lanza, Senia, and Wilcox and Ms. Hall. For 2022 and 2021, the Non-PEO NEOs were Messrs. Lanza, Senia, and Wilcox, and Ms. Hall. (5) The following table reconciles Average SCT Total for Non-PEO NEOs (d) to Average CAP to Non-PEO NEOs (e):

  129. Pay Versus Performance Table

    | Average for Non-PEO NEOs: | Fiscal Year 2025 | Fiscal Year 2024 | Fiscal Year 2023 | Fiscal Year 2022 | Fiscal Year 2021 | | SCT Total ($) (A) | 2,072,801 | 1,702,268 | 1,603,837 | 1,958,112 | 1,889,803 | | Deducted from SCT: Pension Value and Nonqualified Deferred Compensation Earnings ($) (B) | 20,964 | – | 29,919 | – | – | | Added to CAP: Pension Value Attributable to Fiscal Years’ Service and Plan Amendments ($) (C) | – | – | – | – | – | | Deducted from SCT: Grant Date Fair Value of Awards ($) (D) | 823,959 | 706,829 | 615,769 | 665,944 | 580,838 | | Added to CAP: Fair Value of Awards Granted in Fiscal Year ($)(a) (E) | 881,774 | 722,054 | 437,329 | 863,214 | 835,690 | | Added to CAP: Change in Fair Value of Prior Years’ Unvested Awards ($)(a) (F) | (111,240) | (59,313) | 132,153 | 158,607 | 348,738 | | Added to CAP: Change in Fair Value of Prior Years’ Awards that Vested in Fiscal Year ($)(a) (G) | (28,914) | (9,305) | 62,458 | (31,070) | (3,263) | | Deducted from CAP: Fair Value at End of Prior Fiscal Year on Awards Granted in Prior Fiscal Years Not Meeting Vesting Conditions ($)(a) (H) | – | – | 597,631(b) | – | – | | Total CAP (A - B + C - D + E + F + G - H) | 1,969,498 | 1,648,875(d) | 992,458(c) | 2,282,919 | 2,490,130 |

  130. Pay Versus Performance Table

    (a) The table below shows information on performance-based RSUs and performance-based CIUs previously granted to the Non-PEO NEOs.

  131. Pay Versus Performance Table

    | | Average for Non-PEO NEOs: | | | | | | Fiscal Year | Fair Value of Equity Awards Granted in Fiscal Year at Fiscal Year End ($) | Change in Fair Value of Prior Years’ Awards Unvested ($) | Change in Fair Value of Prior Years’ Awards that Vested in Fiscal Year ($) | Fair Value at End of Prior Fiscal Year on Awards Granted in Prior Fiscal Years Not Meeting Vesting Conditions ($) | Equity Fair Value Included in Compensation Actually Paid ($) | | 2025 | | | | | | | RSUs | 627,774 | (77,068) | (28,914) | – | 521,792 | | CIUs | 254,000 | (34,172) | – | – | 219,828 | | Total | 881,774 | (111,240) | (28,914) | – | 741,620 | | 2024 | | | | | | | RSUs | 573,649 | (21,576) | (9,305) | – | 542,768 | | CIUs | 148,405 | (37,737) | – | – | 110,668 | | Total | 722,054 | (59,313) | (9,305) | – | 653,436 | | 2023 | | | | | | | RSUs | 277,099 | 90,533 | 62,458 | (399,002) | 31,088 | | CIUs | 160,230 | 41,620 | – | (198,629) | 3,221 | | Total | 437,329 | 132,153 | 62,458 | (597,631) | 34,309 | | 2022 | | | | | | | RSUs | 583,518 | 108,458 | (31,070) | – | 660,907 | | CIUs | 279,695 | 50,149 | – | – | 329,844 | | Total | 863,214 | 158,607 | (31,070) | – | 990,751 | | 2021 | | | | | | | RSUs | 559,612 | 188,746 | (14,317) | – | 734,040 | | CIUs | 276,078 | 159,992 | 11,054 | – | 447,124 | | Total | 835,690 | 348,738 | (3,263) | – | 1,181,165 |

  132. Pay Versus Performance Table

    (b) Average includes a ($2,988,157) adjustment related to Mr. Wilcox’s forfeited 2021 and 2022 RSU and CIU awards. (c) Average includes no fair value adjustment related to Mr. Wilcox’s forfeited 2023 RSU and CIU awards and a ($2,988,157) adjustment for his forfeited 2021 and 2022 RSU and CIU awards. (d) Average includes no 2024 CIU award granted to Mr. Brennan and no fair value adjustment of prior years’ unvested awards related to Mr. Brennan, as there were none. (6) We used our peer group for purposes of Item 201(e) of Regulation S-K to calculate peer group total shareholder return. The peer group used for this purpose is the group of all Nasdaq-listed companies with SIC Code 6330-6339, “Fire, Marine, and Casualty Insurance.” TSR for both the Company and the peer group is based on an initial $100 investment, measured on a cumulative basis from the market close on December 31, 2020, through and including the end of the applicable fiscal year as presented in the table.

  133. DIRECTOR COMPENSATION

    DIRECTOR COMPENSATION We compensate non-employee directors for their Board service with a combination of cash and equity in amounts commensurate with their role and involvement, and consistent with peer company practices. In setting director compensation, we consider the significant time and effort our directors expend in fulfilling their duties, and the skill level required of our Board members. We intend to compensate our non-employee directors competitively to attract and retain high-caliber directors and align their interests with those of our stockholders. Mr. Marchioni, our CEO, did not receive additional compensation for his service as a director in 2025. The CHCC, which is comprised solely of independent directors, has the primary responsibility for reviewing and approving compensation for non-employee directors, including the following elements: retainer; meeting fees; committee member fees; committee chairperson fees; lead independent director fee; and equity compensation. In October 2024, the CHCC reviewed the form and amount of compensation paid to our non-employee directors for their Board service for 2025. The CHCC considered the results of an independent analysis conducted by the Compensation Consultant, who reviewed non-employee director compensation trends and data from companies comprising the Proxy Peer Group that the CHCC uses in its review of executive compensation. After consulting with the Compensation Consultant, and in light of peer data, the CHCC approved the following changes to Selective’s non-employee director compensation program (in each case, effective as of January 1, 2025): (i) increased the Annual Retainer Fee from $100,000 to $105,000; (ii) increased the Grant Date Fair Value of Annual Equity Award from $110,000 to $125,000; and (iii) increased the Annual Lead Independent Director Fee from $40,000 to $50,000. The following table summarizes the types and amounts of compensation paid to our non-employee directors in 2025:

  134. DIRECTOR COMPENSATION

    | Type of Compensation | Amount ($) | | Annual Retainer Fee | 105,000 | | Grant Date Fair Value of Annual Equity Award | 125,000 | | Board Meeting Attendance | – | | Annual Committee Member Retainer Fees* | | | First Committee | 0 | | Second Committee | 0 | | Third Committee | 8,000 | | Annual Committee Chairperson Fees** | | | Audit Committee | 35,000 | | CHCC | 25,000 | | Corporate Governance and Nominating Committee | 25,000 | | Finance and Investments Committee | 35,000 | | Risk Committee | 25,000 | | Lead Independent Director Fee | 50,000 | | Expenses | Reasonable |

  135. DIRECTOR COMPENSATION

    * Directors do not receive annual committee member retainer fees for service on two standing committees. Any Director who serves on a third Board committee will be paid an annual retainer for that committee service. Non-standing committees and the Executive Committee have no annual committee member retainer fees or annual chairperson fees unless otherwise determined by the CHCC. ** A Director who receives an annual chairperson fee for a committee does not also receive an annual committee member retainer fee for such committee. As the table above shows, in 2025, the non-employee directors received compensation in the forms of cash and equity (consisting of restricted stock units) for their director service. The CHCC annually reviews and approves the compensation for non-employee directors, including the Annual Retainer Fee. For 2025, non-employee directors had the election to receive up to 100% of their Annual Retainer Fee in shares of Selective common stock. Any remaining balance of the Annual Retainer Fee was paid in cash. Non-employee directors made this election before December 31, 2024. The Annual Retainer Fee was paid in one installment on the second business day following Selective’s 2025 Annual Meeting of Stockholders. For 2025, the annual equity grant under Selective’s non-employee director compensation program was made entirely in restricted stock units granted under the Company’s 2024 Omnibus Stock Plan. Shares of Selective common stock paid to directors as a portion of their Annual Retainer Fee were issued under the Company’s 2024 Omnibus Stock Plan. Annual Committee Member Fees, Annual Committee Chairperson Fees, and the Lead Independent Director Fee were paid in cash as reflected in the table above. The following table shows compensation earned by or paid to our non-employee directors during 2025 for 2025 service:

  136. DIRECTOR COMPENSATION

    | Name | Fees Earned or Paid in Cash ($)(1) | Stock Awards ($)(2) | Total ($) | | Ainar D. Aijala, Jr. | 105,041 | 125,032 | 230,073 | | Lisa Rojas Bacus | 105,043 | 125,032 | 230,075 | | Terrence W. Cavanaugh | 128,630 | 125,032 | 253,662 | | Wole C. Coaxum(3) | 105,032 | 125,032 | 230,064 | | Robert Kelly Doherty | 155,000 | 125,032 | 280,032 | | Thomas A. McCarthy | 140,000 | 125,032 | 265,032 | | Stephen C. Mills | 124,478 | 125,032 | 249,510 | | H. Elizabeth Mitchell | 116,507 | 125,032 | 241,539 | | Cynthia S. Nicholson | 130,000 | 125,032 | 255,032 | | Julie Parsons(4) | 16,972 | 0 | 16,972 | | Kate E. R. Sampson | 105,000 | 125,032 | 230,032 | | John S. Scheid | 130,000 | 125,032 | 255,032 | | Philip H. Urban(5) | 42,803 | 0 | 42,803 |

  137. DIRECTOR COMPENSATION

    (1) Information on the election by directors to receive shares of Selective common stock instead of cash for their 2025 annual retainer is included below under the heading “Annual Retainer Stock Election.” (2) This column reflects the aggregate grant date fair value for the 2025 grants of restricted stock units to directors, based on a grant date fair value of $87.68 per share, calculated in accordance with ASC Topic 718. Information on unvested restricted stock units held by each director as of December 31, 2025, is set forth below under the heading “Unvested Restricted Stock Units.” (3) Mr. Coaxum resigned from the Board effective July 30, 2025. (4) Ms. Parsons was appointed to the Board effective November 3, 2025. (5) Mr. Urban did not stand for reelection at the 2025 Annual Meeting of Stockholders and, therefore, ceased to be a director on April 30, 2025.