New York-based insurer Kingstone Cos. has extended the employment contract with Barry Goldstein, its president and CEO since 2001.
The amendment extends his tenure through 2014 and grants him 50,000 shares of common stock along with options to purchase an additional 188,865 shares. His base salary, unchanged since 2004, was increased by $25,000 annually. There were no other material changes to the employment agreement.
“The company has undergone a complete transformation under Barry’s watch,” said Jack Seibald, a Kingstone director and chairman of its Compensation Committee. “We are now a property and casualty insurance carrier. Barry inspired the acquisition of the Commercial Mutual Insurance Company surplus notes in 2006 and the successful conversion of CMIC to a stock company, now known as Kingstone Insurance Co., in July 2009.
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