KEMPER Corp — Form 10-Q

On August 3, 2026, Kemper amended its Third Amended and Restated Credit Agreement (originally dated March 15, 2022). Key changes: (1) modified minimum Consolidated Tangible Net Worth covenant from a fixed floor to $1.4B plus 25% of quarterly positive net income plus 50% of equity issuance gains; (2) revised Risk-Based Capital Ratio requirement for Trinity and United Insurance subsidiaries to 150% minimum (effective June 29, 2026); (3) created new 2026 Inducement Plan with 1,000,000 share authorization for employment-inducement awards (non-qualified options, SARs, PSUs, RSUs) under NYSE Rule 303A.08, effective May 6, 2026, with 10-year term. Lenders include JPMorgan Chase (administrative agent), Bank of America, Regions, Northern Trust, BMO Harris, Fifth Third, Goldman Sachs, US Bank, Associated Bank, Citibank, and UBS.