act-20260325

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

SCHEDULE 14A INFORMATION

Proxy Statement Pursuant to Section 14(a) of

the Securities Exchange Act of 1934 (Amendment No. )

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Enact Holdings, Inc.

(Name of Registrant as Specified in its Charter)

(Name of Person(s) Filing Proxy Statement, if Other Than the Registrant)

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Letter from Dom and Rohit

March 25, 2026

Dear fellow Stockholder,

We are pleased to invite you to the 2026 Annual Meeting of Stockholders of Enact Holdings, Inc. (the “Corporation,” “Enact,” “we,” “our,” and “us”) to be held virtually at 11:00am Eastern time on Wednesday, May 13, 2026.

The Annual Meeting will include voting on the matters set forth in the accompanying Notice of 2026 Annual Meeting of Stockholders and Proxy Statement, and discussion and/or voting on any other business matters properly brought before the meeting.

Whether or not you plan to attend the 2026 Annual Meeting of Stockholders, you can ensure that your shares are represented at the meeting by promptly submitting your proxy by telephone, Internet or by completing, signing, dating, and returning your proxy card.

2025: A Year of Strong Performance

We had another excellent year in 2025, with net income of $674 million, new insurance written of $52 billion and record insurance in-force of $273 billion. We operated from a position of strong capital and liquidity, with PMIERs sufficiency of $1.9 billion, or 162% of requirements, at year end. We remained focused on advancing our capital allocation priorities: supporting existing policyholders and investing in our business while returning excess capital to stockholders. In 2025, we returned over $500 million to shareholders through dividends and share repurchases. Our performance, execution against our strategic priorities and the strength of our balance sheet was recognized by the market, as reflected in multiple ratings upgrades throughout the year and our strong total shareholder return of approximately 25%.

Navigating an Uncertain Macroeconomic Environment with Discipline

The macroeconomic environment in 2025 remained dynamic, and we again navigated it with discipline and focus. The U.S. economy continued to be supported by steady consumer spending, moderating inflation and a resilient labor market. While affordability remained an issue for many, our business remained underpinned by strong demographic tailwinds, particularly from prospective first-time homebuyers entering the market. In 2025, we helped over 134,000 borrowers buy a home and over 16,000 borrowers keep their home, and we will continue to serve this important need in the years to come. Overall, the long-term drivers of housing demand remain strong, and we are confident that mortgage insurance will continue to play an essential role for first-time homebuyers.

Executing Our Strategy

In 2025 we again delivered across all elements of our strategy. We continued to innovate across our risk selection and pricing capabilities. We built on our deep experience in advanced modeling and machine learning to deploy the latest version of our pricing engine, Rate360, which enables us to price risk with discipline as market conditions continue to evolve. We furthered our expansion into attractive adjacencies, with Enact Re continuing to perform well and generates attractive risk -adjusted returns. We remained committed to expense discipline and ended the year with operating expenses of $218 million, down 2% from 2024 and ahead of our expectations despite an inflationary environment. We maintained strong liquidity levels and further enhanced our financial flexibility by entering a new, $435 million revolving credit facility that will provide us with even greater financial flexibility to achieve our goals going forward, and we protected our forward books at attractive cost of capital through the continued execution of our credit risk transfer strategy.

Finally, as noted above, we continued to return excess capital to our shareholders. Since our IPO, we have returned over $1.6 billion to shareholders through dividends and share repurchases, and we remain committed to capital returns as we move forward.

Looking Ahead

As we look to 2026 and beyond, we remain confident in our ability to execute and capitalize on the opportunities ahead. With a strong balance sheet, a disciplined strategy, and a talented team, we are well positioned to continue supporting our customers, growing our business, and delivering sustainable value for our shareholders. Thank you for your continued support and investment in Enact. We look forward to keeping you updated on our progress.

Our people make our performance possible, and we want to once again take this opportunity to thank the Enact team for everything they do, every day, to drive our success and move our business forward.

Cordially,

Dominic Addesso

Chairperson of the Board

Rohit Gupta

President, Chief Executive Officer & Director


2026 PROXY STATEMENT			1

Notice of 2026 Annual Meeting
of Stockholders

Voting Items

Page 10

Page 24

Page 53

Election of Eleven Director Nominees Named in this Proxy Statement

Advisory Vote to Approve Named Executive Officer Compensation

Ratification of Selection of Independent Registered Public Accounting Firm for 2026

FOR ALL nominees

FOR

In addition, stockholders will discuss and vote on such other business as may properly be presented at the 2026 Annual Meeting of Stockholders or any adjournment or postponement thereof.

In accordance with the U.S. Securities and Exchange Commission rule, we are furnishing this Proxy Statement and our Annual Report on Form 10-K for the year ended December 31, 2025 (“2025 Annual Report”) to many of our stockholders solely over the Internet. We believe posting these materials on the Internet enables us to provide the information more quickly, and it lowers the cost of printing and reduces the environmental impact of our 2026 Annual Meeting of Stockholders. The Notice of Internet Availability of Proxy Materials sent to our stockholders explains how to access the proxy materials online, vote online, and, if desired, obtain a paper copy of our proxy materials. A list of registered stockholders is available on the website for the 2026 Annual Meeting of Stockholders.

We encourage your participation in the 2026 Annual Meeting of Stockholders. You may vote by telephone, through the Internet, or by mailing your completed and signed proxy card (or voting instruction form, if you hold your shares through a broker, bank, or other nominee). Each share of common stock issued and outstanding as of the record date is entitled to one vote on each matter to be voted upon at our 2026 Annual Meeting of Stockholders. Your vote is important, and we encourage you to vote.

This Notice, the Proxy Statement, our 2025 Annual Report, and proxy card are first being made available or mailed to stockholders on or about March 30, 2026.

Cordially,



						Evan S. Stolove Corporate Secretary

Logistics


Date and Time Wednesday, May 13, 2026, at 11:00 a.m. ET Location www.virtualshareholdermeeting.com/ACT2026 Who Can Vote? Stockholders of record at the close of business on March 16, 2026


How to Vote Internet www.proxyvote.com Telephone 1-800-579-1639 E-mail sendmaterial@proxyvote.com Mail You can vote by mail by requesting a paper copy of the materials, which will include a proxy card.


			Important Notice Regarding the Availability of Proxy Materials for the 2026 Annual Meeting of Stockholders to be Held on May 13, 2026. Enact’s Notice of 2026 Annual Meeting of Stockholders, Proxy Statement, and 2025 Annual Report are Available, Free of Charge, at: www.proxyvote.com.


2			ENACT

Table of Contents


Letter from Dom and Rohit		1

Notice of 202 6 Annual Meeting of Stockholders		2

Proxy Summary		4

Enact Board of Directors		10


	Proposal 1 Election of Directors	10


Nominees		11
How We Select Our Directors		17
Director Independence		18

Enact Corporate Governance		19
Governance Principles		19
Board Oversight of Strategy		19
Board Leadership Structure		19
Meetings of Independent Directors		20
Meeting Attendance		20
Board Responsibilities		20
Board Policies and Processes		21
Compensation of Directors		22

Executive Compensation		24


	Proposal 2 Advisory Vote to Approve Named Executive Officer Compensation	24


Compensation Discussion and Analysis		25
Named Executive Officers		25
202 5 Corporation Performance		26
Compensation Philosophy		27
Key Governance Practices		27
Compensation Decision-Making Process		28
Key Compensation Program Elements		29
Other Key Compensation Governance Policies		37


Report of the Compensation Committee		38
Executive Compensation Tables		39
2025 Summary Compensation Table		39
Grants of Plan-Based Awards Table		40
Outstanding Equity Awards at 2025 Fiscal Year-End Table		42
2025 Options Exercised and Stock Vested Table		43
Pension Benefits		43
Non-Qualified Deferred Compensation		44
Potential Payments upon Termination or Change of Control		45

CEO Pay Ratio		49
Pay Versus Performance		50

Audit Matters		53


	Proposal 3 Ratification of Selection of Independent Registered Public Accounting Firm	53


Approval of Audit and Non-Audit Services		54
Auditor Fees		54
Report of the Audit Committee		54

Information About Our Stock		55
Ownership of Enact Common Stock		55
Equity Compensation Plan Information		56

Questions and Answers about the 2026 Annual Meeting and Proxy Voting		57

Other Information		61
Voting		61
Meeting Admission		61
2025 Annual Report		61
Date of Distribution		61
Internet Availability of Proxy Materials		61

Certain statements in this proxy statement, other than purely historical information, including estimates, projections, statements relating to our business plans, objectives and expected operating results, and the assumptions upon which those statements are based, are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements may appear throughout this report. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Forward-looking statements are based on current expectations and assumptions that are subject to risks and uncertainties which may cause actual results to differ materially from the forward-looking statements, including the risks and uncertainties set forth in our 2025 Annual Report for the year ended December 31, 2025. We undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events, or otherwise. In addition, our environmental, social and governance goals are aspirational and may change. Statements regarding our goals are not guarantees or promises that they will be met. The information included in, and any issues identified as material for purposes of, our sustainability reports shall not be considered material for Securities and Exchange Commission (“SEC”) reporting purposes. As such, in the context of our sustainability reports, the term “material” is distinct from, and should not be confused with, such term as defined for SEC reporting purposes. Finally, websites provided throughout this document are provided for convenience only, and the content on the referenced websites does not constitute a part of this Proxy Statement and is not incorporated herein by reference.


2026 PROXY STATEMENT			3

Proxy Summary

This summary highlights the information contained in this Proxy Statement for Enact’s 2026 Annual Meeting of Stockholders (the “2026 Annual Meeting”). This summary does not contain all of the information you should consider, and you should read the entire Proxy Statement and 2025 Annual Report carefully before voting.



1	Election of Directors
		The Board recommends that stockholders vote FOR ALL nominees. See page 10

Our Director Nominees

The table below sets forth information about our eleven director nominees, each of whom is an incumbent member of the Enact Board. The Board has determined that eight of the eleven nominees are independent directors under the Nasdaq Stock Market, LLC (“Nasdaq”) Exchange listing requirements.


Name and Primary Occupation		Age	Director Since	Other Public Company Boards	Committee Membership
					A	C	N	R	ICC


	Dominic J. Addesso Former CEO of Everest Re Group, Ltd.	72	2021	0


	Michael A. Bless Former CEO of Century Aluminum Company	60	2022	1


	John D. Fisk Former CEO of FHLBanks Office of Finance	69	2021	1

SEC Form DEF 14A filed by Enact Holdings Inc.