HORACE MANN EDUCATORS CORP /DE/ (Form: 10-Q, Received: 05/09/2022 15:35:06)

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HORACE MANN EDUCATORS CORPORATION 2010 Comprehensive Executive Compensation Plan Performance-based Restricted Stock Units Agreement – Employee Grantee This Restricted Stock Units Agreement (“Agreement”) (consisting of the Designations herein and the Restricted Stock Units Terms and Conditions attached hereto) evidences the grant by HORACE MANN EDUCATORS CORPORATION, a Delaware corporation (the “Company”) to you of performance-based Restricted Stock Units (“PBRSUs”) under the 2010 Comprehensive Executive Compensation Plan (as amended from time to time) (the “Plan”), as an employee of the Company. Capitalized terms not otherwise defined in this Agreement have the meanings assigned to them in the Plan. Designations: Employee Grantee (“you”) «First_NameLast_Name» Grant Date: March 9, 2022 1. PBRSU Grant Requirements Target Number of PBRSUs Granted: «Perf_Base_RSU___text» Performance Period: January 1, 2022 through December 31, 2024 Vesting: Except as otherwise provided in this Agreement, contingent upon both satisfaction of the Performance Goals set forth below at the end of the Performance Period and your continued employment through the end of the Performance Period, 100% of the earned PBRSUs shall become vested and nonforfeitable on January 1, 2025. Performance Goals: Performance Goals are as follows: (a) Financial Goals Relative(1) Measures Weighting Threshold(2) Target(2) Maximum(2) TSR(3) 50% 25th%ile Ranking vs Peer Co’s 50th%ile Ranking vs Peer Co’s 90th%ile Ranking vs Peer Co’s Operating ROE(4) 50% 25th%ile Ranking vs Peer Co’s 50th%ile Ranking vs Peer Co’s 90th%ile Ranking vs Peer Co’s (1) Based on a peer group comprised of Russell 2000 Index insurance companies, excluding brokerage, reinsurance, financial guarantee, and health companies. (2) Threshold award (25th percentile) is 50% of target LTI opportunity; Target award (50th percentile) is 100%; Maximum (90th percentile) is 200% of Target award. Awards for results between Threshold-Target and Target-Maximum will be interpolated. (3) Total Shareholder Return for the 3 year period. Measures from the average price 5 trading days before and 5 trading days after the beginning of the measurement period (1/1/22) to the average price 5 trading days before and 5 trading days after the end of the measurement period (12/31/24). (Source: S&P Market Intelligence) (4) Average annual Operating Income Return on Average Equity (excluding FAS 115) for the 3 years. (Source: S&P Market Intelligence) (b) ESG Modifier Notwithstanding anything herein to the contrary, the earned PBRSUs of Employee Grantees who are Named Officers of the ESG Steering Committee (CEO, CFO, GC, CHRO, Chief Investment Officer, VP Investor Relations), as determined under subsection (a) above, are subject to a modifier ranging from -10% to +10% of the target number of PBRSUs granted, based on the achievement of ESG goals. (For clarity, PBRSUs earned under (a) above may be forfeited if target goals for ESG are not met during the Performance Period.) ESG goals shall be communicated separately to such Employee Grantees by the Compensation Committee. Attainment of ESG goals shall be determined by the Compensation Committee, in its sole discretion, at the end of the Performance Period. Measures Weighting Environmental 25% Social 50% Governance 25% Earned PBRSUs for performance levels between Threshold and Target performance levels and between Target and Maximum performance levels are calculated based on a straight-line interpolation.

Notwithstanding the attainment of any Performance Goals noted above, the Committee retains discretion to reduce the amount payable to you with respect to your PBRSUs, including to zero, if it determines such reduction to be necessary or appropriate in its sole discretion. 2. RSU Settlement Subject to the Grant Requirements set forth above, the grant of PBRSUs includes a right to Dividend Equivalents, which shall become nonforfeitable and be settled at the same time and manner as the PBRSUs to which they relate. The term “PBRSUs” includes any Dividend Equivalents credited to you. PBRSUs will be settled by delivery of one share of the Company’s Stock for each Unit being settled, as follows: (Administrator to check one) ___ No election to defer settlement has been made and the PBRSUs shall be settled as soon as administratively practicable after the date they become nonforfeitable, subject to the Terms and Conditions herein. ___ A valid election to defer settlement PBRSUs has heretofore been filed with the Company, and settlement shall be made in accordance with such election, whose terms are incorporated by reference. IN WITNESS WHEREOF, the Company has caused this Agreement to be executed by its duly authorized on this March 9, 2022. HORACE MANN EDUCATORS CORPORATION By: Marita Zuraitis President and Chief Executive Officer ____________________________________________________________________________________________________________________ EMPLOYEE ACKNOWLEDGMENT I acknowledge that I have carefully reviewed this Agreement (including the Restricted Stock Units Terms and Conditions attached hereto) and the terms of the Plan. I acknowledge that I have had an opportunity to consult with my own attorney and/or financial advisor concerning the financial and tax effects on me as a result of this Agreement. ______________________________ Employee Signature Date Employee Name This Agreement must be returned to HR Compensation, 1 Horace Mann Plaza, Springfield, IL 62715 or HRCompensation@horacemann.com, prior to distribution of any vested shares. If you have any questions, please contact HR Compensation. Attachment: Restricted Stock Unit Terms and Conditions - March 9, 2022

1 HORACE MANN EDUCATORS CORPORATION 2010 Comprehensive Executive Compensation Plan RESTRICTED STOCK UNITS TERMS AND CONDITIONS The Restricted Stock Units Agreement (“Agreement”) (consisting of the preceding Designations pages and the following Restricted Stock Units Terms and Conditions) evidences the grant by HORACE MANN EDUCATORS CORPORATION, a Delaware corporation (the “Company”) to you of performance-based Restricted Stock Units (“PBRSUs”) and/or service-vested Restricted Stock Units (SBRSUs) under the 2010 Comprehensive Executive Compensation Plan (as amended from time to time) (the “Plan”), as an employee of the Company. Capitalized terms not otherwise defined in this Agreement have the meanings assigned to them in the Plan. 1. General. By accepting the grant of the PBRSUs and SBRSUs, you agree to be bound by all of the terms and provisions of this Agreement and the Plan (as presently in effect or later amended), the terms of which are incorporated herein by this reference, the rules and regulations under the Plan adopted from time to time, and any interpretations, decisions and determinations the Compensation Committee of the Company’s Board of Directors (the “Committee”) or its delegate may make from time to time. If there is any conflict between the provisions of this Agreement and the provisions of the Plan, the provisions of the Plan govern. 2. Account for You as Employee Grantee. The Company shall maintain a bookkeeping account for you (the “Account”) reflecting the number of PBRSUs and SBRSUs granted hereunder, and adjusted for any Dividend Equivalents or other adjustments to the PBRSUs and SBRSUs or any settlement or forfeiture thereof. 3. Settlement in General; Six-month Delay for Specified Employees. Settlement of PBRSUs and SBRSUs for which no valid deferral election is in effect shall be made in shares of Stock as soon as practicable following the date such PBRSUs and SBRSUs vest and become nonforfeitable, except as provided in Paragraph 5. Settlement of PBRSUs and SBRSUs for which a valid deferral election is in effect shall be made in shares of Stock in accordance with such deferral election. Notwithstanding the foregoing provisions of this Paragraph 3, if you are a Specified Employee on the date of Separation from Service, any PBRSUs and SBRSUs subject to Section 409A of the Internal Revenue Code of 1986 becoming subject to settlement on account of Separation from Service shall not be settled earlier than the first day of the seventh month following your Separation from Service, or if earlier, the date of your death or disability. 4. Nontransferability and Other Limitations. Except as otherwise permitted under the Plan, until PBRSUs and/or SBRSUs have been settled, you may not transfer the PBRSUs and/or SBRSUs or any rights relating thereto to any third party other than by will or the laws of descent and distribution. Sales of shares of Stock delivered in settlement of PBRSUs and SBRSUs will be subject to any Company policy regulating trading by employees. Additional events could result in forfeiture or loss of the PBRSUs and SBRSUs. 5. Separation from Service; Death, Disability, Retirement; Change in Control Except as provided below in this Paragraph 5, if you have a Separation from Service for any reason, prior to satisfying the PBRSU and/or SBRSU Grant Requirements set forth on the preceding Designations pages, any unvested PBRSUs and/or SBRSUs shall thereupon be forfeited immediately. (a) Death or Disability. (i) PBRSUs. If you die or incur a disability (as defined below) prior to the end of the applicable Performance Period, the number of your earned PBRSUs shall be a pro rata portion of the number of PBRSUs that would have been earned if you had remained employed (and not become disabled, as applicable) throughout the Performance Period, determined assuming Target performance. The earned PBRSUs shall be vested and nonforfeitable and shall be settled in accordance with the terms on the preceding Designations pages under “Settlement” and Paragraph 3 hereof. The pro rata portion shall be determined by multiplying the number of PBRSUs that would have been so earned by a

2 fraction (the “Proration Fraction”), the numerator of which is the number of days you were employed prior to your death or disability during the Performance Period, and the denominator of which is the total number of days in the Performance Period. You will be “disabled” for purposes of this Paragraph 5(a) if you have a disability (as determined under Treasury Regulations Section 1.409A- 3(i)(4)). (ii) SBRSUs. If you die or incur a disability (determined in the manner described below), your unvested SBRSUs shall thereupon become vested and no longer subject to forfeiture immediately and shall be settled in accordance with the terms on the preceding Designations pages under “Settlement” and Paragraph 3 hereof. The determination of disability under the Company’s long-term disability policy applicable to you (or which would be applicable if you had elected coverage) shall govern whether you are considered to have incurred a disability. (b) Retirement. (i) PBRSUs. If you Retire (as defined below) at least one year after the Grant Date and prior to the expiration of the Performance Period, the number of your earned PBRSUs shall be a pro rata portion of the number of PBRSUs that would have been earned if you had remained employed throughout the Performance Period, determined based on actual performance, which PBRSUs shall be vested and nonforfeitable and shall be settled at the expiration of the Performance Period, subject to Paragraph 5(a) above, in accordance with the terms on the preceding Designations pages under “Settlement” and Paragraph 3 hereof. The pro rata portion of such earned PBRSUs shall be determined by multiplying the number of PBRSUs that would have been earned times the Proration Fraction (as defined above). If you Retire less than one year after the Grant Date, your PBRSUs shall be forfeited. You shall be deemed to have “Retired” upon Separation from Service (this excludes separating from employment due to death, disability, or for Cause (as defined in Section 11.03 of the Plan)) on or after the earlier of (x) your attainment of 65 years of age and at least 5 years of service with the Company or (y) your attainment of age 55 and at least 10 years of service with the Company. (ii) SBRSUs. If you Retire (as defined above) one year or more after the Grant Date, a portion of your unvested SBRSUs shall thereupon become vested and no longer subject to forfeiture, and shall be settled in accordance with the terms on the preceding Designations pages under “Settlement” and Paragraph 3 hereof. The portion that vests when you Retire shall be determined by (x) multiplying the number of SBRSUs granted (as shown on the Designations page) by a fraction, the numerator of which is the number of months elapsed since the Grant Date (for example, if the Grant Date is March 15, one month elapses as of the 14th of each subsequent month) and the denominator of which is 36, and then (y) subtracting the number of SBRSUs that became vested prior to the date you Retired. If you Retire less than one year after the Grant Date, your unvested SBRSUs shall be forfeited. (iii) Notwithstanding the foregoing, all PBRSUs and SBRSUs shall be forfeited in the event of a termination of service for Cause (as defined in Section 11.03 of the Plan). (c) Change in Control. (i) PBRSUs. If on or after the occurrence of a Change in Control (as defined in Section 3.08(b) of the Plan), but prior to the first anniversary of the effective date of the Change in Control and prior to the expiration of the Performance Period, you (x) have an involuntary Separation from Service the Company other than for Cause (as defined in Section 11.03 of the Plan) and other than on account of death or disability (as provided in Paragraph 5(a)), or (y) have a voluntary termination for Good Reason (as defined below), then any unearned PBRSUs shall be deemed earned at the Target level and shall be immediately vested and no longer subject to forfeiture, and shall be settled in accordance with the terms on the preceding Designations pages under “Settlement” and Paragraph 3 hereof. For purposes hereof, “Good Reason” means the occurrence any one or more of the following actions or

3 omissions after a Change in Control and without your written consent: (A) a material reduction in your base compensation (i.e., base salary and annual incentive); (B) the Company’s requiring you to be based at any office or location more than 50 miles from the location at which you were based prior to the date of the Change in Control, and also farther from your residence than the location at which you were based prior to the date of the Change in Control; or (C) any material adverse change in your responsibilities (including offices, titles, and reporting responsibilities) or duties. (ii) SBRSUs. If on or after the occurrence of a Change in Control (as defined in Section 3.08(b) of the Plan), but prior to the first anniversary of the effective date of the Change in Control and prior to the expiration of the Performance Period, you (x) have an involuntary Separation from Service the Company other than for Cause (as defined in Section 11.03 of the Plan) and other than on account of death or disability (as provided in Paragraph 5), or (y) have a voluntary termination for Good Reason (as defined above), your unvested SBRSUs shall thereupon become vested and no longer subject to forfeiture, and shall be settled in accordance with the terms on the preceding Designations pages under “Settlement” and Paragraph 3 hereof. (iii) In order for you to have a termination of service for Good Reason, you must notify your employer of the event constituting such Good Reason within 90 days of the occurrence of such event. A delay in the delivery of such notice shall waive your right under this Agreement to terminate employment for Good Reason. The employer shall have 30 days to cure the event constituting Good Reason and you shall terminate employment upon the lapse of the cure period if no cure is effected. 6. Dividend Equivalents and Adjustments. (a) Dividend Equivalents. Dividend Equivalents will be credited on PBRSUs and SBRSUs (other than PBRSUs and SBRSUs that, at the relevant record date, previously have been settled or forfeited) and deemed reinvested in additional PBRSUs and SBRSUs, as applicable. Such crediting shall be as follows, except that the Committee, in its discretion, may vary the crediting medium (for example, by crediting cash dividend equivalents rather than additional PBRSUs and SBRSUs for administrative convenience), and Dividend Equivalents so credited will be distributed or settled when the underlying Account is settled: (i) Cash Dividends. If the Company declares and pays a dividend or distribution on Stock in the form of cash, then additional PBRSUs and SBRSUs, as applicable, shall be credited to your Account (in lieu of payment or crediting of cash dividend equivalents) in a number equal to the number of PBRSUs and SBRSUs credited to the Account as of the relevant record date multiplied by the amount of cash paid per share in such dividend or distribution divided by the Fair Market Value of a share of Stock at the payment date for such dividend or distribution. (ii) Non-Stock Dividends. If the Company declares and pays a dividend or distribution on Stock in the form of property other than shares of Stock, then a number of additional PBRSUs and SBRSUs, as applicable, shall be credited to your Account as of the payment date for such dividend or distribution in a number equal to the number of PBRSUs and SBRSUs credited to the Account as of the record date for such dividend or distribution multiplied by the fair market value of such property actually paid as a dividend or distribution on each outstanding share of Stock at such payment date, divided by the Fair Market Value of a share of Stock at such payment date. (iii) Stock Dividends and Splits. If the Company declares and pays a dividend or distribution on Stock in the form of additional shares of Stock, or there occurs a forward split of Stock, then a number of additional PBRSUs and SBRSUs, as applicable, shall be credited to your Account as of the payment date for such dividend or distribution or forward split equal to the number of PBRSUs and SBRSUs credited to the Account as of the record date for such dividend or distribution or split multiplied by the number of additional shares of Stock actually paid as a dividend or distribution or issued in such split in respect of each outstanding share of Stock.

4 (b) Adjustments. The number of PBRSUs and SBRSUs, as applicable, credited to your Account shall be appropriately adjusted, in order to prevent dilution or enlargement of your rights with respect to PBRSUs and SBRSUs or to reflect any changes in the number of outstanding shares of Stock resulting from any event referred to in Section 12.05 of the Plan or otherwise, in the discretion of the Committee. 7. Your Representations and Warranties. (a) You acknowledge receipt of the Form S-8 Prospectus for the Plan in connection with the grant of PBRSUs and SBRSUs. Upon request, a copy of the Plan document will also be provided. As a condition to the settlement of the PBRSUs and SBRSUs, the Company may require you to make any representation or warranty to the Company as may be determined by the Committee or by counsel to the Company to be appropriate or required by law or regulation. (b) Covenants. As a condition to the settlement of the PBRSUs and SBRSUs, you agree as follows: (i) Confidentiality. During your employment with the Company and for at least three (3) years thereafter, or such longer period as may be permitted by applicable law, you agree not to disclose any “Confidential Information” which you acquire or develop as an employee of the Company to any other person or entity, or use such information in any manner other than in the interest of the Company and its affiliates. “Confidential Information” shall mean information, material and trade secrets, including as defined by the Illinois Trade Secrets Act, maintained by the Company or any related or affiliated entity of the Company or designated as confidential by the Company, whether or not owned or developed by the Company, which you have obtained knowledge of or access to, through or as a result of the services provided to the Company or to any related or affiliated entity of the Company. Without limiting the generality of the foregoing, Confidential Information shall include, but is not limited to, the following types of information and other information of a similar nature (whether or not reduced to writing or still in development): data, documentation, diagrams, flow charts, formulas, research, economic and financial analysis, developments, processes, procedures, “know how,” marketing techniques and materials, marketing and development plans, customer names and other non-public information related to customers, employees, price lists, pricing policies, Company-derived market information and financial information. (ii) Non-Solicitation. You shall not, during your employment with the Company or for a period of twelve (12) months after your termination of employment with the Company: (A) on your own behalf or on behalf of any person, firm, business organization or entity, directly or indirectly, solicit (or communicate with) for the purpose of offering products or services similar to or competitive with any product or service offered by the Company or its affiliates: (x) any school, school system, school district, college, educational association or other business organization which has an established relationship with the Company or its affiliates for purposes of marketing the Company’s or its affiliates’ products and services to its employees and with which you had material contact at any time during the two (2) years immediately preceding your last day of employment with the Company, or (y) any individual policyholder or other customer of the Company’s or its affiliates’ products or services with whom you had material contact at any time during the two (2) years immediately preceding your last day of employment with the Company; or (B) directly or indirectly solicit for employment, attempt to employ or affirmatively assist any other person, firm, business organization or entity in employment or soliciting for employment any person employed or hired by the Company during the six (6) months immediately preceding your last day of employment with the Company. (iii) Non-Disparagement. During your employment with the Company and following your termination of employment with the Company, you will refrain from directly, indirectly or anonymously making or causing to be made any statements or comments (through the internet, industry outlets or channels, social media, television, radio, print media, or before or to any other audience (including to current, former or prospective customers or employees of the Company or its affiliates) that defame or disparage the Company or its affiliates (including its officers, directors, employees, or agents and any

5 of its products or services) in any way, with respect to any matter through communications that (A) state or imply that the services or business practices of the Company or its affiliates are or were inconsistent with industry standards, unlawful or otherwise improper, or (B) harass, threaten, or make knowingly false statements against representatives, officers, directors or employees of the Company or its affiliates. (iv) Notwithstanding the foregoing, nothing in the preceding paragraphs shall be construed to limit your right, if any, under Section 7 of the National Labor Relations Act and/or other applicable laws to discuss the terms and conditions of your employment or to engage in protected concerted activity as defined by law. In addition, nothing in the preceding paragraphs shall be construed to prohibit you from first (or later) reporting, or assisting in the reporting or investigation, of possible violations of federal or state law or regulation to any governmental agency or self-regulatory organization, or making other disclosures that reasonably may be protected under whistleblower or other provisions of any applicable federal or state law or regulation. Authorization by, or notice to, the Company is not required for any such reports or disclosures. If you violate any of the representations and covenants described in this Section 7, the Company shall have the right to cause a forfeiture of your rights, including, but not limited to, forfeiture of any PBRSUs and SBRSUs which have not yet been settled and, with respect to any PBRSUs and SBRSUs which have been settled, recoupment of any gain, plus reasonable interest thereon, recognized by you upon the sale of shares of Stock acquired by you upon the vesting of such PBRSUs or SBRSUs. You acknowledge that violation of the representations and covenants described in this Section 7 would cause irreparable harm to the Company and the Company may also take any action at equity or in law to enforce such covenants. 8. Miscellaneous. (a) Binding Agreement; Written Amendments. This Agreement shall be binding upon the heirs, executors, administrators and successors of the parties. The Plan, this Agreement and any deferral election relating to the PBRSUs and SBRSUs constitute the entire agreement between the parties with respect to the PBRSUs and SBRSUs, and supersede any prior agreements or understandings with respect to the PBRSUs and SBRSUs. No amendment or alteration of this Agreement which may impose any additional obligation upon the Company shall be valid unless expressed in a written instrument duly executed in the name of the Company, and no amendment, alteration, suspension or termination of this Agreement which materially impairs your rights with respect to the PBRSUs and SBRSUs shall be valid unless expressed in a written instrument executed by you. Any amendment, alteration, suspension or termination required by law or the terms of any Agreement to which the Company is a party, or necessary to preserve or improve the tax status of the PBRSUs and SBRSUs for you shall be deemed not to materially impair your rights with respect to the PBRSUs and SBRSUs. (b) No Promise of Continued Employment. The PBRSUs and SBRSUs and the granting thereof shall not constitute or be evidence of any agreement or understanding, express or implied, that you have a right to continue as an officer or employee of the Company for any period of time, or at any particular rate of compensation. (c) Recoupment. All rights granted and/or shares of Stock delivered under this Agreement are subject to recoupment under the Company’s recoupment policy as in effect from time to time. (d) Governing Law. The validity, construction, and effect of this Agreement shall be determined in accordance with the laws (including those governing contracts) of the state of Delaware, without giving effect to principles of conflicts of laws, and in accordance with applicable federal law. (e) Fractional PBRSUs and SBRSUs and Shares. The number of PBRSUs and SBRSUs credited to your Account shall include fractional PBRSUs and SBRSUs calculated to at least two decimal places, unless otherwise determined by the Committee. Upon settlement of any PBRSUs and SBRSUs you shall be paid, in cash, an amount equal to the value of any fractional share that would have otherwise been deliverable in settlement of such PBRSUs and SBRSUs.

6 (f) Mandatory Tax Withholding. Unless otherwise determined by the Committee, at the time the PBRSUs and SBRSUs become subject to tax, the Company will withhold from any shares deliverable in settlement of the PBRSUs and SBRSUs (or if the PBRSUs and SBRSUs become subject to tax prior to the settlement date, the Company will reduce the number of PBRSUs and SBRSUs in your Account), in accordance with Section 12.06 of the Plan, the number of whole shares of Stock having a value nearest to, but not exceeding, the amount of income and employment taxes required to be withheld under applicable laws and regulations, and pay the amount of such withholding taxes in cash to the appropriate taxing authorities. You will be responsible for any withholding taxes not satisfied by means of such mandatory withholding and for all taxes in excess of such withholding taxes that may be due with respect to the PBRSUs and SBRSUs upon vesting or settlement or otherwise. (g) Unfunded Obligations. The grant of the PBRSUs and SBRSUs and the maintenance of your Account shall be by means of bookkeeping entries on the books of the Company and shall not create for you any right to, or claim against any, specific assets of the Company, nor result in the creation of any trust or escrow account for you. With respect to your entitlement to any distribution hereunder, you shall be a general creditor of the Company. (h) Notices. Any notice to be given the Company under this Agreement shall be addressed to the Company at its principal executive offices, in care of the Chief Human Resources Officer, and any notice to you shall be addressed to you at your address as then appearing in the records of the Company. (i) No Shareholder Rights. You and any Beneficiary shall not have any rights with respect to Stock (including voting rights) covered by this Agreement prior to the settlement of the PBRSUs and SBRSUs and distribution of the shares of Stock as specified herein. Effective: March 9, 2022


Delaware			37-0911756
(State or other jurisdiction of incorporation or organization)			(I.R.S. Employer Identification No.)


PART I - FINANCIAL INFORMATION		Page

Item 1.	Consolidated Financial Statements

	Report of Independent Registered Public Accounting Firm	1

	Consolidated Balance Sheets as of March 31, 2022 (Unaudited) and December, 31 2021	2

	Consolidated Statements of Operations and Comprehensive Loss for the Three Months Ended March 31, 2022 and 2021 (Unaudited)	3

	Consolidated Statements of Changes in Shareholders’ Equity for the Three Months Ended March 31, 2022 and 2021 (Unaudited)	4

	Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2022 and 2021 (Unaudited)	5

	Notes to Consolidated Financial Statements (Unaudited)
	Note 1 - Basis of Presentation and Significant Accounting Policies	6
	Note 2 - Acquisitions	7
	Note 3 - Investments	8
	Note 4 - Fair Value of Financial Instruments	14
	Note 5 - Goodwill and Intangible Assets	19
	Note 6 - Unpaid Claims and Claim Expenses	21
	Note 7 - Reinsurance	22
	Note 8 - Commitments	22
	Note 9 - Segment Information	23
	Note 10 - Accumulated Other Comprehensive Income (Loss)	24
	Note 11 - Supplemental Consolidated Cash and Cash Flow Information	24

Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	25

Item 3.	Quantitative and Qualitative Disclosures About Market Risk	46

Item 4.	Controls and Procedures	47

PART II - OTHER INFORMATION

Item 1A.	Risk Factors	48

Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	48

Item 5.	Other Information	48

Item 6.	Exhibits	48

SIGNATURES		53


/s/ KPMG LLP
KPMG LLP

Chicago, Illinois
May 9, 2022


	March 31, 2022		December 31, 2021
	(Unaudited)
Assets
Investments
Fixed maturity securities, available for sale, at fair value (amortized cost, net 2022, $5,970.7; 2021, $5,797.7)	$	5,987.4	$	6,239.3
Equity securities at fair value	126.8		147.2
Limited partnership interests	801.9		712.8
Short-term and other investments	337.0		350.2
Total investments	7,253.1		7,449.5
Cash	49.1		133.7
Deferred policy acquisition costs	323.5		248.0
Reinsurance balances receivable	510.9		153.2
Deposit asset on reinsurance	2,491.8		2,481.5
Intangible assets	200.6		145.4
Goodwill	56.3		43.5
Other assets	320.2		288.1
Separate Account (variable annuity) assets	3,221.9		3,441.0
Total assets	$	14,427.4	$	14,383.9

Liabilities and Shareholders' Equity
Policy liabilities
Investment contract and policy reserves	$	7,020.2	$	6,577.8
Unpaid claims and claim expenses	475.7		425.9
Unearned premiums	244.4		255.1
Total policy liabilities	7,740.3		7,258.8
Other policyholder funds	1,009.8		945.9
Other liabilities	415.9		428.2
Short-term debt	249.0		249.0
Long-term debt	253.7		253.6
Separate Account (variable annuity) liabilities	3,221.9		3,441.0
Total liabilities	12,890.6		12,576.5
Preferred stock, $0.001 par value, authorized 1,000,000 shares; none issued	—		—
Common stock, $0.001 par value, authorized 75,000,000 shares; issued, 2022, 66,484,165; 2021, 66,436,821	0.1		0.1
Additional paid-in capital	496.6		495.3
Retained earnings	1,525.9		1,524.9
Accumulated other comprehensive income (loss), net of tax:
Net unrealized investment gains on fixed maturity securities	20.0		290.7
Net funded status of benefit plans	(10.2)		(10.2)
Treasury stock, at cost, 2022, 25,103,083 shares; 2021, 25,043,337 shares	(495.6)		(493.4)
Total shareholders’ equity	1,536.8		1,807.4
Total liabilities and shareholders’ equity	$	14,427.4	$	14,383.9


	Three Months Ended March 31,
		2022		2021
Statements of Operations
Revenues
Net premiums and contract charges earned		$	255.9	$	227.6
Net investment income		97.9		95.5
Net investment losses		(15.5)		(9.0)
Other income		8.5		7.9

Total revenues		346.8		322.0

Benefits, losses and expenses
Benefits, claims and settlement expenses		177.0		134.3
Interest credited		40.8		50.6
Operating expenses		76.8		58.0
DAC unlocking and amortization expense		26.4		24.1
Intangible asset amortization expense		4.2		3.3
Interest expense		3.9		3.5


Total benefits, losses and expenses		329.1		273.8

Income before income taxes		17.7		48.2
Income tax expense		3.2		8.9

Net income		$	14.5	$	39.3

Net income per share
Basic		$	0.35	$	0.94
Diluted		$	0.35	$	0.93

Weighted average number of shares and equivalent shares
Basic		41.9		41.9
Diluted		42.1		42.1

Statements of Comprehensive Loss
Net income		$	14.5	$	39.3
Other comprehensive loss, net of tax:
Change in net unrealized investment gains (losses) on fixed maturity securities		(270.7)		(122.7)
Change in net funded status of benefit plans		—		—
Other comprehensive loss		(270.7)		(122.7)
Comprehensive loss		$	(256.2)	$	(83.4)


Horace Mann Educators Corporation			1			Quarterly Report on Form 10-Q


($ in millions)
Assets:
Investments	$	90.4
Cash and short-term investments	123.4
Reinsurance recoverable	356.0
Intangible assets(1)	59.4
Other assets	23.2
Liabilities:
Investment contract and policy reserves	274.5
Unpaid claims and claim expenses	48.2
Unearned premiums	1.5
Other policyholder funds	152.8
Other liabilities	15.9
Total identifiable net assets acquired	159.5
Goodwill(2)	12.8
Purchase price	$	172.3


($ in millions)	Amortized Cost, net		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
March 31, 2022
Fixed maturity securities
U.S. Government and federally sponsored agency obligations:(1)
Mortgage-backed securities	$	613.4	$	15.2	$	13.1	$	615.5
Other, including U.S. Treasury securities	372.5		11.5		20.9		363.1
Municipal bonds	1,530.9		72.2		23.6		1,579.5
Foreign government bonds	41.3		1.4		0.1		42.6
Corporate bonds	2,308.1		63.4		75.5		2,296.0
Other asset-backed securities	1,104.5		7.1		20.9		1,090.7
Totals	$	5,970.7	$	170.8	$	154.1	$	5,987.4

December 31, 2021
Fixed maturity securities
U.S. Government and federally sponsored agency obligations:(1)
Mortgage-backed securities	$	612.1	$	51.9	$	1.5	$	662.5
Other, including U.S. Treasury securities	342.5		27.7		4.3		365.9
Municipal bonds	1,519.7		184.4		0.7		1,703.4
Foreign government bonds	40.2		3.4		—		43.6
Corporate bonds	2,217.7		176.2		5.2		2,388.7
Other asset-backed securities	1,065.5		16.6		6.9		1,075.2
Totals	$	5,797.7	$	460.2	$	18.6	$	6,239.3


($ in millions)	12 Months or Less					More than 12 Months					Total
	Fair Value			Gross Unrealized Losses		Fair Value			Gross Unrealized Losses		Fair Value			Gross Unrealized Losses
March 31, 2022
Fixed maturity securities
U.S. Government and federally sponsored agency obligations:
Mortgage-backed securities	$	238.4		$	10.7	$	11.0		$	2.4	$	249.4		$	13.1
Other	116.2			9.2		50.4			11.7		166.6			20.9
Municipal bonds	456.0			23.4		1.4			0.2		457.4			23.6
Foreign government bonds	1.5			0.1		—			—		1.5			0.1
Corporate bonds	1,012.5			66.7		74.9			8.8		1,087.4			75.5
Other asset-backed securities	637.5			14.5		160.2			6.4		797.7			20.9
Total	$	2,462.1		$	124.6	$	297.9		$	29.5	$	2,760.0		$	154.1

Number of positions with a gross unrealized loss	1,756					189					1,945
Fair value as a percentage of total fixed maturity securities at fair value	41.1		%			5.0		%			46.1		%

December 31, 2021
Fixed maturity securities
U.S. Government and federally sponsored agency obligations:
Mortgage-backed securities	$	67.4		$	1.3	$	3.9		$	0.2	$	71.3		$	1.5
Other	59.5			1.7		35.1			2.6		94.6			4.3
Municipal bonds	56.8			0.7		0.6			—		57.4			0.7
Foreign government bonds	—			—		—			—		—			—
Corporate bonds	220.7			3.8		44.1			1.4		264.8			5.2
Other asset-backed securities	379.0			3.8		128.2			3.1		507.2			6.9
Total	$	783.4		$	11.3	$	211.9		$	7.3	$	995.3		$	18.6

Number of positions with a gross unrealized loss	516					122					638
Fair value as a percentage of total fixed maturity securities at fair value	12.6		%			3.4		%			16.0		%


($ in millions)	Percent of Total Fair Value				March 31, 2022
	March 31, 2022		December 31, 2021		Fair Value		Amortized Cost, net
Estimated expected maturity:
Due in 1 year or less	4.1	%	4.0	%	$	248.0	$	248.0
Due after 1 year through 5 years	27.4		27.0		1,638.0		1,628.4
Due after 5 years through 10 years	27.2		27.7		1,626.1		1,599.9
Due after 10 years through 20 years	24.1		23.9		1,443.1		1,429.5
Due after 20 years	17.2		17.4		1,032.2		1,064.9
Total	100.0	%	100.0	%	$	5,987.4	$	5,970.7

Average option-adjusted duration, in years	6.6		6.7


($ in millions)			Gross Amounts Offset in the Consolidated Balance Sheets		Net Amounts of Assets/ Liabilities Presented in the Consolidated Balance Sheets		Gross Amounts Not Offset in the Consolidated Balance Sheets
	Gross Amounts						Financial Instruments		Cash Collateral Received		Net Amount
March 31, 2022
Asset derivatives:
Free-standing derivatives	$	6.0	$	—	$	6.0	$	1.5	$	5.2	$	(0.7)

December 31, 2021
Asset derivatives:
Free-standing derivatives	$	10.7	$	—	$	10.7	$	4.5	$	6.4	$	(0.2)


($ in millions)	Carrying Amount		Fair Value		Fair Value Measurements at Reporting Date Using
					Level 1		Level 2		Level 3
March 31, 2022
Financial Assets
Investments
Fixed maturity securities
U.S. Government and federally sponsored agency obligations:
Mortgage-backed securities	$	615.5	$	615.5	$	—	$	615.5	$	—
Other, including U.S. Treasury securities	363.1		363.1		25.2		337.9		—
Municipal bonds	1,579.5		1,579.5		—		1,525.4		54.1
Foreign government bonds	42.6		42.6		—		42.6		—
Corporate bonds	2,296.0		2,296.0		14.0		2,056.0		226.0
Other asset-backed securities	1,090.7		1,090.7		—		1,000.9		89.8
Total fixed maturity securities	5,987.4		5,987.4		39.2		5,578.3		369.9
Equity securities	126.8		126.8		25.6		99.9		1.3
Short-term investments	126.9		126.9		122.0		4.9		—
Other investments	38.1		38.1		—		38.1		—
Totals	$	6,279.2	$	6,279.2	$	186.8	$	5,721.2	$	371.2
Separate Account (variable annuity) assets(1)	$	3,221.9	$	3,221.9	$	3,221.9	$	—	$	—
Financial Liabilities
Investment contract and policy reserves, embedded derivatives	$	1.5	$	1.5	$	—	$	1.5	$	—
Other policyholder funds, embedded derivatives	$	99.1	$	99.1	$	—	$	—	$	99.1

December 31, 2021
Financial Assets
Investments
Fixed maturity securities
U.S. Government and federally sponsored agency obligations:
Mortgage-backed securities	$	662.5	$	662.5	$	—	$	662.5	$	—
Other, including U.S. Treasury securities	365.9		365.9		17.7		348.2		—
Municipal bonds	1,703.4		1,703.4		—		1,642.6		60.8
Foreign government bonds	43.6		43.6		—		43.6		—
Corporate bonds	2,388.7		2,388.7		14.9		2,163.5		210.3
Other asset-backed securities	1,075.2		1,075.2		—		976.3		98.9
Total fixed maturity securities	6,239.3		6,239.3		32.6		5,836.7		370.0
Equity securities	147.2		147.2		35.2		110.6		1.4
Short-term investments	157.8		157.8		157.8		—		—
Other investments	43.6		43.6		—		43.6		—
Totals	$	6,587.9	$	6,587.9	$	225.6	$	5,990.9	$	371.4
Separate Account (variable annuity) assets(1)	$	3,441.0	$	3,441.0	$	3,441.0	$	—	$	—
Financial Liabilities
Investment contract and policy reserves, embedded derivatives	$	2.1	$	2.1	$	—	$	2.1	$	—
Other policyholder funds, embedded derivatives	$	106.6	$	106.6	$	—	$	—	$	106.6


($ in millions)	Financial Assets												Financial Liabilities(1)
	Municipal Bonds		Corporate Bonds		Mortgage-Backed and Other Asset- Backed Securities(2)		Total Fixed Maturity Securities		Equity Securities		Total
Beginning balance, January 1, 2022	$	60.8	$	210.3	$	98.9	$	370.0	$	1.4	$	371.4	$	106.6
Transfers into Level 3(3)	—		67.5		4.7		72.2		—		72.2		—
Transfers out of Level 3(3)	(3.2)		—		(4.8)		(8.0)		—		(8.0)		—
Total gains or losses
Net investment gains (losses) included in net income related to financial assets	—		—		(0.9)		(0.9)		(0.1)		(1.0)		—
Net investment (gains) losses included in net income related to financial liabilities	—		—		—		—		—		—		(5.2)
Net unrealized investment gains (losses) included in OCI	(3.4)		(6.4)		(4.1)		(13.9)		—		(13.9)		—
Purchases	—		—		—		—		—		—		—
Issuances	—		—		—		—		—		—		0.9
Sales	—		—		—		—		—		—		—
Settlements	—		—		—		—		—		—		—
Paydowns, maturities and distributions	(0.1)		(45.4)		(4.0)		(49.5)		—		(49.5)		(3.2)
Ending balance, March 31, 2022	$	54.1	$	226.0	$	89.8	$	369.9	$	1.3	$	371.2	$	99.1

Beginning balance, January 1, 2021	$	59.6	$	155.8	$	139.4	$	354.8	$	0.3	$	355.1	$	104.5
Transfers into Level 3(3)	—		24.1		3.1		27.2		—		27.2		—
Transfers out of Level 3(3)	—		(27.3)		(5.9)		(33.2)		—		(33.2)		—
Total gains or losses
Net investment gains (losses) included in net income related to financial assets	—		—		—		—		—		—		—
Net investment (gains) losses included in net income related to financial liabilities	—		—		—		—		—		—		4.3
Net unrealized investment gains (losses) included in OCI	(0.9)		(2.0)		(0.3)		(3.2)		—		(3.2)		—
Purchases	—		—		—		—		—		—		—
Issuances	—		—		—		—		—		—		0.7
Sales	—		—		—		—		—		—		—
Settlements	—		—		—		—		—		—		—
Paydowns, maturities and distributions	(0.1)		(1.5)		(4.1)		(5.7)		—		(5.7)		(1.9)
Ending balance, March 31, 2021	$	58.6	$	149.1	$	132.2	$	339.9	$	0.3	$	340.2	$	107.6


($ in millions)	December 31, 2021		Impairment		Acquisition		March 31, 2022
Property & Casualty	$	9.5	$	—	$	—	$	9.5
Life & Retirement	14.4		—		—		14.4
Supplemental & Group Benefits	19.6		—		12.8		32.4
Total	$	43.5	$	—	$	12.8	$	56.3


($ in millions)	Weighted Average
	Useful Life (in Years)
At inception:
Value of business acquired	28	$	100.1
Value of distribution acquired	17	54.0
Value of agency relationships	14	17.0
Value of customer relationships	10	59.9
Total	20	231.0
Accumulated amortization and impairments:
Value of business acquired		(20.5)
Value of distribution acquired		(12.4)
Value of agency relationships		(6.7)
Value of customer relationships		(4.5)
Total		(44.1)
Net intangible assets subject to amortization:		$	186.9


($ in millions)
Year Ending December 31,
2022 (excluding the three months ended March 31, 2022)	$	12.6
2023	15.5
2024	15.1
2025	14.8
2026	14.5
Thereafter	114.4
Total	$	186.9


($ in millions)	Direct Amount		Ceded to Other Companies(1)		Assumed from Other Companies		Net Amount










Three months ended March 31, 2022
Net premiums written and contract deposits(2)	$	359.6	$	14.9	$	12.4	$	357.1
Net premiums and contract charges earned	260.5		17.2		12.6		255.9
Benefits, claims and settlement expenses	179.5		11.5		9.0		177.0

Three months ended March 31, 2021
Net premiums written and contract deposits(2)	$	320.6	$	5.9	$	1.5	$	316.2
Net premiums and contract charges earned	234.2		8.4		1.8		227.6
Benefits, claims and settlement expenses	135.6		2.5		1.2		134.3


($ in millions)	Net Unrealized Investment Gains (Losses) on Securities(1)		Net Funded Status of Benefit Plans(1)		Total(1)












Beginning balance, January 1, 2022	$	290.7	$	(10.2)	$	280.5
Other comprehensive income (loss) before reclassifications	(284.8)		—		(284.8)
Amounts reclassified from AOCI(2)	14.1		—		14.1
Net current period other comprehensive income (loss)	(270.7)		—		(270.7)
Ending balance, March 31, 2022	$	20.0	$	(10.2)	$	9.8

Beginning balance, January 1, 2021	$	366.3	$	(11.2)	$	355.1
Other comprehensive income (loss) before reclassifications	(129.1)		—		(129.1)
Amounts reclassified from AOCI(2)	6.4		—		6.4
Net current period other comprehensive income (loss)	(122.7)		—		(122.7)
Ending balance, March 31, 2021	$	243.6	$	(11.2)	$	232.4


						Page
Introduction						26
Consolidated Financial Highlights						27
Consolidated Results of Operations						27
Outlook for 2022						29
Application of Critical Accounting Estimates						30
Results of Operations by Segment						31
Property & Casualty						31
Life & Retirement						34
Supplemental & Group Benefits						37
Corporate & Other						38
Investment Results						38
Liquidity and Capital Resources						41


($ in millions)	Three Months Ended March 31,				2022-2021
		2022			2021			Change %
Total revenues		$	346.8		$	322.0		7.7	%
Net income		14.5			39.3			-63.1	%
Per diluted share:
Net income		0.35			0.93			-62.4	%
Net investment losses after tax		(0.29)			(0.17)			N.M.
Book value per share		$	37.14		$	40.83		-9.0	%
Net income return on equity - last twelve months		6.8		%	9.3		%
Net income return on equity - annualized		3.5		%	9.0		%


($ in millions, unless otherwise indicated)	Three Months Ended March 31,				2022-2021
		2022			2021			Change
Financial Data:
Net premiums written*:
Auto		$	94.5		$	99.2		-4.7	%
Property and other		45.1			42.6			5.9	%
Total net premiums written		139.6			141.8			-1.6	%
Change in unearned net premiums		10.6			14.0			-24.3	%
Total net premiums earned		150.2			155.8			-3.6	%
Incurred claims and claims expenses:
Claims occurring in the current year		108.3			94.7			14.4	%
Prior years' reserve development(1)		—			—			—	%
Total claims and claim expenses incurred		108.3			94.7			14.4	%
Operating expenses, including DAC amortization		39.4			39.5			-0.3	%
Underwriting gain		2.5			21.6			-88.4	%
Net investment income		7.2			10.8			-33.3	%
Income before income taxes		10.5			34.4			-69.5	%
Net income / Core earnings*		8.5			27.9			-69.5	%

Operating Statistics:
Auto
Loss and loss adjustment expense ratio		76.0		%	59.1		%	16.9	pts
Expense ratio		25.8		%	25.1		%	0.7	pts
Combined ratio:		101.8		%	84.2		%	17.6	pts
Prior years' reserve development(1)		—		%	—		%	—	pts
Catastrophe losses		0.5		%	0.3		%	0.2	pts
Underlying combined ratio*		101.3		%	83.9		%	17.4	pts
Property
Loss and loss adjustment expense ratio		65.0		%	64.1		%	0.9	pts
Expense ratio		27.3		%	26.0		%	1.3	pts
Combined ratio:		92.3		%	90.1		%	2.2	pts
Prior years' reserve development(1)		—		%	—		%	—	pts
Catastrophe losses		12.7		%	20.1		%	-7.4	pts
Underlying combined ratio*		79.6		%	70.0		%	9.6	pts

Risks in force (in thousands)
Auto(2)		372			393			-5.3	%
Property		175			182			-3.8	%
Total		547			575			-4.9	%


($ in millions)	March 31, 2022
	Total Deferred Annuities				Deferred Annuities at Minimum Guaranteed Rate
	Percent of Total		Accumulated Value (AV)		Percent of Total Deferred Annuities AV		Percent of Total		Accumulated Value
Guaranteed minimum crediting rates:
Less than 2%	55.8	%	$	1,411.1	74.8	%	49.6	%	$	1,056.2
Equal to 2% but less than 3%	11.2		283.5		83.6		11.1		236.9
Equal to 3% but less than 4%	24.6		622.8		99.9		29.2		622.4
Equal to 4% but less than 5%	6.5		165.7		100.0		7.8		165.7
5% or higher	1.9		48.0		100.0		2.3		48.0
Total	100.0	%	$	2,531.1	84.1	%	100.0	%	$	2,129.2


($ in millions)	March 31, 2022
	Number of Issuers	Fair Value		Amortized Cost, net		Pretax Net Unrealized Gain (Loss)
Fixed maturity securities
Corporate bonds
Banking & Finance	170	$	531.8	$	535.2	$	(3.4)
Energy	94	179.0		177.4		1.6
Insurance	56	173.2		165.9		7.3
Healthcare, Pharmacy	89	160.8		163.7		(2.9)
Miscellaneous	37	144.9		146.1		(1.2)
Utilities	78	138.8		141.5		(2.7)
Transportation	51	107.9		109.5		(1.6)
Real Estate	45	105.0		106.4		(1.4)
Food and Beverage	36	86.6		84.2		2.4
Consumer Products	56	79.7		83.3		(3.6)
All other corporates(1)	362	588.3		594.9		(6.6)
Total corporate bonds	1,074	2,296.0		2,308.1		(12.1)
Mortgage-backed securities
U.S. Government and federally sponsored agencies	256	419.3		422.4		(3.1)
Commercial(2)	137	297.5		296.0		1.5
Other	31	17.6		17.8		(0.2)
Municipal bonds(3)	613	1,579.5		1,530.9		48.6
Government bonds
U.S.	43	365.9		375.3		(9.4)
Foreign	8	42.5		41.3		1.2
Collateralized loan obligations(4)	210	679.4		680.6		(1.2)
Asset-backed securities	106	289.7		298.3		(8.6)
Total fixed maturity securities	2,478	$	5,987.4	$	5,970.7	$	16.7

Equity securities
Non-redeemable preferred stocks	28	$	108.3
Common stocks	17	0.5
Closed-end fund	1	18.0
Total equity securities	46	$	126.8

Total	2,524	$	6,114.2


($ in millions)	Percent of Portfolio Fair Value				March 31, 2022
	December 31, 2021		March 31, 2022		Fair Value		Amortized Cost, net
Fixed maturity securities
AAA	10.1	%	10.0	%	$	595.8	$	599.3
AA(2)	36.7		37.2		2,230.0		2,221.4
A	17.4		16.9		1,014.1		991.7
BBB	21.3		21.3		1,272.7		1,274.9
BB	3.1		3.0		180.2		183.0
B	1.3		1.4		84.5		86.0
CCC or lower	—		—		0.8		0.8
Not rated(3)	10.1		10.2		609.3		613.6
Total fixed maturity securities	100.0	%	100.0	%	$	5,987.4	$	5,970.7
Equity securities
AAA	—		—		$	—
AA	—		—		—
A	0.5	%	0.5	%	0.7
BBB	67.3		70.4		89.3
BB	12.7		13.6		17.2
B	—		—		—
CCC or lower	—		—		—
Not rated	19.5		15.5		19.6
Total equity securities	100.0	%	100.0	%	$	126.8

Total					$	6,114.2


($ in millions)	Interest Rates	Final Maturity	March 31, 2022		December 31, 2021

Short-term debt
Bank Credit Facility	Variable	2026	$	249.0	$	249.0
Long-term debt(1)
4.50% Senior Notes, Aggregate principal amount of $250.0 less unaccrued discount of $0.3 and $0.3 and unamortized debt issuance costs of $1.0 and $1.1	4.50%	2025	248.7		248.6
FHLB borrowings	0.00%	2022	5.0		5.0
Total			$	502.7	$	502.6


Period	Total Number of Shares Purchased	Average Price Paid per Share		Total Number of Shares Purchased under the Program	Approximate Dollar Value of Shares that may yet be Purchased under the Program
January 1 - 31	53,874	$	37.13	53,874	$	13.3	million
February 1 - 28	5,872	37.21		5,872	$	13.1	million
March 1 - 31	—	—		—	$	13.1	million
Total	59,746	$	37.14	59,746	$	13.1	million


Exhibit
No.						Description

(3) Articles of incorporation and bylaws:

3.1						Restated Certificate of Incorporation of HMEC, filed with the Delaware Secretary of State on June 24, 2003, incorporated by reference to Exhibit 3.1 to HMEC’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2003, filed with the Securities and Exchange Commission (the "SEC") on August 14, 2003.

3.2						Bylaws of HMEC, incorporated by reference to Exhibit 3.2 to HMEC’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2003, filed with the SEC on August 14, 2003.



(4) Instruments defining the rights of security holders, including indentures:

4.1						Indenture, dated as of November 23, 2015, by and between HMEC and The Bank of New York Mellon Trust Company, N.A., as trustee, incorporated by reference to Exhibit 4.1 to HMEC’s Current Report on Form 8-K dated November 18, 2015, filed with the SEC on November 23, 2015.

4.1(a)						Form of HMEC 4.500% Senior Notes due 2025, incorporated by reference to Exhibit 4.2 to HMEC’s Current Report on Form 8-K dated November 18, 2015, filed with the SEC on November 23, 2015.

4.2						Certificate of Designations for HMEC Series A Cumulative Convertible Preferred Stock, incorporated by reference to Exhibit 4.3 to HMEC’s Annual Report on Form 10-K for the year ended December 31, 2005, filed with the SEC on March 16, 2006.

4.3						Description of Securities, incorporated by reference to Exhibit 4.3 to HMEC's Annual Report on Form 10-K for the year ended December 31, 2019, filed with the SEC on March 2, 2020.

(10) Material contracts:

10.1						Credit Agreement dated as of June 21, 2019 among HMEC, certain financial institutions named therein and PNC Bank, N.A., as administrative agent, incorporated by reference to Exhibit 10.1 to HMEC’s Current Report on Form 8-K dated June 24, 2019, filed with the SEC on June 24, 2019.

10.1(a)						First Amendment to Credit Agreement dated as of June 21, 2019 among HMEC, certain financial institutions named therein and PNC Bank, N.A., as administrative agent, incorporated by reference to Exhibit 10.1(a) to HMEC's Annual Report on Form 10-K for the year ended December 31, 2019, filed with the SEC on March 2, 2020.

10.1(b)						Second Amendment to Credit Agreement dated as of July 12, 2021, among HMEC, as borrower, PNC Bank, National Association, as administrative agent, and certain lenders party thereto, incorporated by reference to Exhibit 10.1(b) to HMEC's Current Report on Form 8-K dated July 14, 2021, filed with the SEC on July 14, 2021.

10.2*						Horace Mann Educators Corporation Amended and Restated 2002 Incentive Compensation Plan ("2002 Incentive Compensation Plan"), incorporated by reference to Exhibit 10.2 to HMEC’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2005, filed with the SEC on August 9, 2005.

10.2(a)*						Revised Specimen Employee Stock Option Agreement under the 2002 Incentive Compensation Plan, incorporated by reference to Exhibit 10.6(b) to HMEC’s Annual Report on Form 10-K for the year ended December 31, 2008, filed with the SEC on March 2, 2009.

10.2(b)*						Specimen Employee Restricted Stock Unit Agreement under the 2002 Incentive Compensation Plan, incorporated by reference to Exhibit 10.6(d) to HMEC’s Annual Report on Form 10-K for the year ended December 31, 2005, filed with the SEC on March 16, 2006.

10.2(c)*						Revised Specimen Employee Restricted Stock Unit Agreement under the 2002 Incentive Compensation Plan, incorporated by reference to Exhibit 10.6(f) to HMEC’s Annual Report on Form 10-K for the year ended December 31, 2008, filed with the SEC on March 2, 2009.

10.2(d)*						Specimen Non-employee Director Restricted Stock Unit Agreement under the 2002 Incentive Compensation Plan, incorporated by reference to Exhibit 10.6(e) to HMEC’s Annual Report on Form 10-K for the year ended December 31, 2005, filed with the SEC on March 16, 2006.



10.2(e)*						Revised Specimen Non-employee Director Restricted Stock Unit Agreement under the 2002 Incentive Compensation Plan, incorporated by reference to Exhibit 10.6(h) to HMEC’s Annual Report on Form 10-K for the year ended December 31, 2008, filed with the SEC on March 2, 2009.

10.3*						HMEC 2010 Comprehensive Executive Compensation Plan (As Amended and Restated Effective March 3, 2021), incorporated by reference to Exhibit 1 (beginning on page 59) to HMEC’s Proxy Statement, filed with the SEC on April 8, 2021.

10.3(a)*						HMEC 2010 Comprehensive Executive Compensation Plan (As Amended and Restated Effective May 20, 2015) (Section 16 Officer) Non-Qualified Stock Option Agreement - Employee Grantee, incorporated by reference to Exhibit 10.3(a) to HMEC's Quarterly Report on Form 10-Q for the quarter ended March 31, 2017, filed with the SEC on May 9, 2017.

10.3(b)*						HMEC 2010 Comprehensive Executive Compensation Plan (As Amended and Restated Effective May 20, 2015) (Non-Section 16) Non-Qualified Stock Option Agreement - Employee Grantee, incorporated by reference to Exhibit 10.3(b) to HMEC's Quarterly Report on Form 10-Q for the quarter ended March 31, 2017, filed with the SEC on May 9, 2017.

10.3(c)*						HMEC 2010 Comprehensive Executive Compensation Plan (As Amended and Restated Effective May 20, 2015) Service-Vested Restricted Stock Units Agreement - Employee Grantee, incorporated by reference to Exhibit 10.3(c) to HMEC's Quarterly Report on Form 10-Q for the quarter ended March 31, 2017, filed with the SEC on May 9, 2017.

10.3(d)*						HMEC 2010 Comprehensive Executive Compensation Plan (As Amended and Restated Effective May 20, 2015) Performance-Based Restricted Stock Units Agreement - Employee Grantee.

10.3(e)*						HMEC 2010 Comprehensive Executive Compensation Plan (As Amended and Restated Effective May 20, 2015) Service-Vested Restricted Stock Units Agreement - Employee Grantee (One-Time Grant Service), incorporated by reference to Exhibit 10.3(e) to HMEC's Quarterly Report on Form 10-Q for the quarter ended March 31, 2017, filed with the SEC on May 9, 2017.

10.3(f)*						Specimen Employee Performance-Based Restricted Stock Units Agreement - Key Strategic Grantee under the HMEC 2010 Comprehensive Executive Compensation Plan incorporated by reference to Exhibit 10.3(e) to HMEC’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2016, filed with the SEC on May 6, 2016.

10.3(g)*						Specimen Non-employee Director Restricted Stock Unit Agreement under the HMEC 2010 Comprehensive Executive Compensation Plan, incorporated by reference to Exhibit 10.17(a) to HMEC’s Current Report on Form 8-K dated May 27, 2010, filed with the SEC on June 2, 2010.

10.4*						Horace Mann Supplemental Employee Retirement Plan, 2002 Restatement, incorporated by reference to Exhibit 10.1 to HMEC’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2002, filed with the SEC on May 15, 2002.

10.5*						Horace Mann Executive Supplemental Employee Retirement Plan, 2002 Restatement, incorporated by reference to Exhibit 10.2 to HMEC’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2002, filed with the SEC on May 15, 2002.

10.6*						Amended and Restated Horace Mann Nonqualified Supplemental Money Purchase Pension Plan, incorporated by reference to Exhibit 10.9 to HMEC’s Annual Report on Form 10-K for the year ended December 31, 2008, filed with the SEC on March 2, 2009.


10.7*						Summary of HMEC Non-employee Director Compensation, incorporated by reference to Exhibit 10.7 to HMEC's Quarterly Report on Form 10-Q for the quarter ended June 30, 2021, filed with the SEC on August 6, 2021.

10.8*						Summary of HMEC Named Executive Officer Annualized Salaries.

10.9*						Form of Severance Agreement between HMEC, Horace Mann Service Corporation ("HMSC") and certain officers of HMEC and/or HMSC, incorporated by reference to Exhibit 10.13 to HMEC’s Annual Report on Form 10-K for the year ended December 31, 2012, filed with the SEC on February 28, 2013.

10.10*						HMSC Executive Change in Control Plan, incorporated by reference to Exhibit 10.15 to HMEC’s Current Report on Form 8-K dated February 15, 2012, filed with the SEC on February 22, 2012.

10.10(a)*						HMSC Executive Change in Control Plan Schedule A Plan Participants.

10.11*						HMSC Executive Severance Plan, incorporated by reference to Exhibit 10.16 to HMEC’s Current Report on Form 8-K dated March 7, 2012, filed with the SEC on March 13, 2012.

10.11(a)*						First Amendment to the HMSC Executive Severance Plan, incorporated by reference to Exhibit 10.16(a) to HMEC’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2012, filed with the SEC on August 9, 2012.

10.11(b)*						HMSC Executive Severance Plan Schedule A Participants.

10.12						Stock Purchase Agreement Among Horace Mann Educators Corporation, and Robert Paglione, Paglione Family Irrevocable Trust F/B/O Adam Paglione, Paglione Family Irrevocable Trust F/B/O Lisa and Jorge Arroyo, Beau Adams and Benefit Consultants Group, Inc. dated as of October 30, 2018, incorporated by reference to Exhibit 10.12 to HMEC's Annual Report on Form 10-K for the year ended December 31, 2018, filed with the SEC on March 1, 2019.

10.13						Purchase Agreement By and Among Ellard Family Holdings, Inc., Brian M. Ellard, The JCE Exempt Trust and Horace Mann Educators Corporation dated as of December 10, 2018, incorporated by reference to Exhibit 10.13 to HMEC's Annual Report on Form 10-K for the year ended December 31, 2018, filed with the SEC on March 1, 2019.

10.14						Stock Purchase Agreement for Madison National Life, incorporated by reference to Exhibit 10.14 to HMEC's Quarterly Report on Form 10-Q for the quarter ended September 30, 2021, filed with the SEC on November 5, 2021.

(11) Statement regarding computation of per share earnings.

(15) KPMG LLP letter regarding unaudited interim financial information.

(31) Certification pursuant to Section 302 of the Sarbanes-Oxley Act of 2002:

31.1						Certification by Marita Zuraitis, Chief Executive Officer of HMEC.

31.2						Certification by Bret A. Conklin, Chief Financial Officer of HMEC.

(32) Certification pursuant to Section 906 of the Sarbanes-Oxley Act of 2002:

32.1						Certification by Marita Zuraitis, Chief Executive Officer of HMEC.

32.2						Certification by Bret A. Conklin, Chief Financial Officer of HMEC.



(99) Additional exhibits:

99.1						Glossary of Selected Terms.

(101) Interactive Data File:

101.INS						XBRL Instance Document - the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document

101.SCH						XBRL Taxonomy Extension Schema

101.CAL						XBRL Taxonomy Extension Calculation Linkbase

101.DEF						XBRL Taxonomy Extension Definition Linkbase

101.LAB						XBRL Taxonomy Extension Label Linkbase

101.PRE						XBRL Taxonomy Extension Presentation Linkbase


		HORACE MANN EDUCATORS CORPORATION
		(Registrant)






Date	May 9, 2022	/s/ Marita Zuraitis

		Marita Zuraitis
		President and Chief Executive Officer






Date	May 9, 2022	/s/ Bret A. Conklin

		Bret A. Conklin
		Executive Vice President and
		Chief Financial Officer






Date	May 9, 2022	/s/ Kimberly A. Johnson

		Kimberly A. Johnson
		Senior Vice President, Controller and
		Principal Accounting Officer


Named Executive Officer						Annualized Salary
Marita Zuraitis President and Chief Executive Officer						$1,000,000
Bret A. Conklin Executive Vice President and Chief Financial Officer						$525,000
Matthew P. Sharpe Executive Vice President, Supplemental & Group Benefits and Corporate Strategy						$495,000
Don M. Carley Executive Vice President and General Counsel						$410,000
Mark R. Desrochers Senior Vice President, Property & Casualty and Chief Corporate Actuary						$360,500


Note: The effective date of entry shall be subject to Section 4.2(a)

NAME OR TITLE						EFFECTIVE DATE OF
						PARTICIPATION*

TIER I PARTICIPANTS
President and CEO						May 16, 2013

TIER II PARTICIPANTS
EVP and CFO						May 23, 2017
EVP, Supplemental & Group Benefits and Corporate Strategy						February 15, 2012
EVP and General Counsel						December 3, 2019

TIER III PARTICIPANTS

*Subject to acceptance within 30 days of effective date of participation.


/s/ Marita Zuraitis
Marita Zuraitis, Chief Executive Officer
Horace Mann Educators Corporation

Date:			May 9, 2022