Form 4: AIG Director Courtney Leimkuhler Awarded Deferred Stock Units

Director Courtney Leimkuhler received 1,284 deferred stock units (DSUs) from American International Group (AIG) as part of their compensation for service as a non-employee director.

Summary

• Courtney Leimkuhler, a director at American International Group, Inc. (AIG), was awarded 1,284 deferred stock units (DSUs) on November 5, 2024.
• These DSUs were granted under the 2021 Omnibus Incentive Plan as compensation for their service as a non-employee director.
• The DSUs will vest without any cash consideration or conditions and will be settled in shares of AIG common stock on a 1-to-1 basis on the last trading day of the month in which the director's service on the AIG Board of Directors ends, unless the director has elected to defer the vesting date.
• The award includes dividend-equivalent rights that accrue during the vesting period in the form of DSUs.

Sentiment

Score: 7

Explanation: The document reflects a standard compensation practice, indicating stability and alignment of interests. It's a neutral event with a slightly positive implication for corporate governance.

Positives

• The award of DSUs aligns the director's interests with those of the shareholders.
• The vesting schedule encourages continued service on the AIG Board of Directors.
• Dividend-equivalent rights provide additional value to the director during the vesting period.

Future Outlook

The DSUs will be settled in shares of AIG common stock upon the director's departure from the board, unless the director has elected to defer the vesting date.

Industry Context

This type of equity compensation is common for non-employee directors at publicly traded companies to align their interests with shareholders.

Comparison to Industry Standards

• Deferred stock units are a typical form of compensation for non-employee directors in publicly traded companies like AIG.
• Companies such as Goldman Sachs, JP Morgan Chase, and Citigroup also use similar equity-based compensation plans for their directors.
• The specific number of units awarded and the vesting schedule can vary based on company size, performance, and industry standards.

Stakeholder Impact

• Shareholders may view this as a positive sign that the director's interests are aligned with theirs.
• Employees may see this as a standard practice for director compensation.
• The company's creditors are unlikely to be significantly impacted by this transaction.

Key Dates