Stephen J. Harrison
Co-founder of USAuto Insurance Company and CEO of First Acceptance Corporation from 2004 to 2011. He held the company's largest single stake (~14.8% in 2008) and sold his shares back in a December 2011 buyout tied to a separation agreement.
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- Location
- Nashville, Tennessee, United States
- Country
- United States
- Full name
- Stephen J. Harrison
- Known for
- CEO and director of First Acceptance Corporation (2004–2011)
- First Acceptance roles
- Chief Executive Officer and director from April 2004; President from April 2004 to February 2008
- Earlier business
- Co-founded USAuto Insurance Company in 1995
- 2008 ownership
- 7,014,999 shares plus 91,681 acquirable shares (~14.8% of outstanding)
- 2011 buyout
- Sold 7,049,515 shares to First Acceptance at $1.45 per share (December 2011), under a mutual separation and release agreement
Stephen J. Harrison
Stephen J. Harrison is a Nashville, Tennessee insurance executive who co-founded USAuto Insurance Company and then served as CEO of First Acceptance Corporation from 2004 to 2011. He became CEO and a director when Liberté Investors Inc. acquired USAuto Holdings in April 2004 and renamed itself First Acceptance Corporation, and he was the company’s largest single shareholder at the 2008 proxy — about 14.8% of outstanding stock.
Career
Harrison co-founded USAuto Insurance Company in Nashville in 1995, serving as its president until 2002 and then as chairman and CEO through the 2004 merger. In the merger, USAuto Holdings merged with a Liberté subsidiary and Harrison moved into the combined company’s top role: Chief Executive Officer, President, and director from April 2004 (proxy statement, Oct. 6, 2008).
He relinquished the presidency in February 2008 while remaining CEO and a director. In December 2011, First Acceptance bought back 7,049,515 shares from Harrison and his 2010 grantor retained annuity trust at $1.45 per share — a buyout tied to a mutual separation and release agreement (Exhibit 10.34).
Name disambiguation
This Stephen J. Harrison is not the Sir Ernest Harrison who chaired Racal, nor executives of the same name at Manitex or Relypsa.
FAQ
Was Stephen J. Harrison related to Thomas M. Harrison? The 2008 proxy lists both as large shareholders and executives of First Acceptance (Stephen held 14.8%, Thomas 14.7%); it does not state a family relationship, and none is stated here.
How big was his stake? At the 2008 proxy: 7,014,999 shares owned outright plus 91,681 shares acquirable within 60 days — roughly 14.8% of outstanding stock.
What this profile does not claim
- It does not state his birth year, education, or post-2011 activities.
- The Harrison Insurance Agency tenure dates differ between the 2004 registration statement and the 2008 proxy; the discrepancy is flagged, not resolved.
- It does not characterize the 2011 separation beyond what the stock purchase agreement states.
Timeline
- 1995
- Co-founds USAuto Insurance Company in Nashville, Tennessee, and serves as its president until 2002, chairman and CEO until 2004.
- 2004
- Becomes Chief Executive Officer, President, and a director of Liberté Investors Inc. on completion of the USAuto Holdings merger (April 2004); the company changes its name to First Acceptance Corporation.
- 2008
- Proxy lists him as CEO and director, with 7,014,999 shares owned plus 91,681 shares acquirable within 60 days — about 14.8% of outstanding stock, the largest disclosed single holder.
- 2011
- First Acceptance repurchases 7,049,515 shares from Harrison and the Stephen J. Harrison 2010 Grantor Retained Annuity Trust at $1.45 per share, effective December 2011, under a stock purchase agreement tied to a mutual separation and release agreement.
What we could not verify
These claims came up in research and could not be confirmed. They are recorded here rather than published as fact or quietly dropped. If you hold a source that settles one, please tell us.
- The 2004 registration statement and the 2008 proxy give different tenure ranges for his earlier Harrison Insurance Agency role; the verified overlap (USAuto founding in 1995) is stated, the agency dates are left open.
- Exact birth year was not verified from the fetched sources and is not stated here.
- His post-2011 activities were not covered by the fetched sources and are not stated here.
Sources
2 sources (2 tier 1), each opened and read against the claim it supports. Every source is independent of the subject; no first-party material is cited. See the source policy.
Both sources were read in full. The SEC EDGAR link is the company filing index because direct accession URLs are unstable; the 2008-10-06 DEF 14A text itself was read in full for this profile.
- Supports: CEO/director/President roles and dates, USAuto co-founding, 2008 share ownership Open original source
- Supports: December 2011 buyout — 7,049,515 shares at $1.45 per share, tied to mutual separation and release agreement Open original source
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