Form 4: AIG Director Linda A. Mills Reports Acquisition of Deferred Stock Units

Director Linda A. Mills reports the acquisition of 2,344 deferred stock units (DSUs) in American International Group, Inc. (AIG) as part of her compensation for service as a non-employee director.

Summary

• On May 15, 2024, Linda A. Mills, a director of American International Group, Inc. (AIG), acquired 2,344 deferred stock units (DSUs).
• These DSUs were awarded under the AIG 2021 Omnibus Incentive Plan as compensation for her 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 upon the end of her service on the AIG Board of Directors, unless she elects to defer the vesting date.
• The award includes dividend equivalent rights that accrue during the vesting period in the form of DSUs.
• Following this transaction, Mills beneficially owns a total of 38,532 DSUs, reflecting grants under both the AIG 2013 and 2021 Omnibus Incentive Plans.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to director compensation, which is generally viewed neutrally. The acquisition of DSUs aligns the director's interests with those of shareholders, which is a positive aspect.

Positives

• The acquisition of DSUs aligns the director's interests with those of the shareholders, as the value of the DSUs is tied to the performance of AIG's common stock.
• The 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 end of the director's service on the AIG Board, unless the director has elected to defer the vesting date.

Industry Context

This filing is a routine disclosure of director compensation in the form of deferred stock units, a common practice among publicly traded companies to align the interests of directors with those of shareholders.

Comparison to Industry Standards

• Deferred stock units are a common form of compensation for non-employee directors in publicly traded companies, including those in the financial services industry.
• Companies like Goldman Sachs, JP Morgan Chase, and Citigroup also utilize similar equity-based compensation plans for their directors.
• The vesting and settlement terms described in the filing are typical for DSU awards.

Stakeholder Impact

• The acquisition of DSUs aligns the director's interests with those of the shareholders, potentially leading to better corporate governance and decision-making.
• The compensation structure does not have a direct impact on employees, customers, suppliers, or creditors.

Key Dates