Form 4: AIG Director Paola Bergamaschi Receives Dividend Equivalent Rights in Deferred Stock Units

Paola Bergamaschi, a director of American International Group, Inc. (AIG), acquired dividend equivalent rights in the form of deferred stock units (DSUs) related to previously awarded DSUs.

Summary

• On April 1, 2024, Paola Bergamaschi, a director of AIG, acquired 23 deferred stock units (DSUs) representing dividend equivalent rights.
• These DSUs are related to previously awarded DSUs under the 2021 Omnibus Incentive Plan as compensation for her service as a non-employee director.
• The DSUs, along with the underlying previously awarded DSUs, 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 her service on the Board ends, unless she has elected to defer the vesting date.
• Following the transaction, Bergamaschi beneficially owns 4,930 DSUs.
• Bergamaschi has granted a power of attorney to Rose Marie Glazer, Christina Banthin, and Linda Kalayjian to execute and file SEC forms on her behalf.

Sentiment

Score: 7

Explanation: The document is a routine regulatory filing indicating standard director compensation practices. It doesn't contain any information that would significantly impact investor sentiment positively or negatively.

Positives

• The acquisition of DSUs reflects continued alignment of the director's interests with those of shareholders through equity-based compensation.
• The power of attorney ensures timely and accurate filing of required SEC forms.

Future Outlook

The DSUs will be settled in shares of AIG common stock upon the end of the director's board service, unless deferred, indicating a future conversion of these units into equity.

Industry Context

This filing is a routine disclosure related to director compensation and equity ownership, common in publicly traded companies like AIG. It reflects standard practices for aligning director interests with shareholder value.

Comparison to Industry Standards

• Director compensation in the form of deferred stock units (DSUs) is a common practice among large, publicly traded companies like AIG.
• Companies such as Goldman Sachs, JP Morgan Chase, and Citigroup also utilize similar equity-based compensation plans for their directors to align their interests with those of shareholders.
• The vesting and settlement terms of these DSUs, typically tied to the director's tenure on the board, are also consistent with industry norms.
• The use of a power of attorney for SEC filings is a standard administrative practice to ensure compliance with reporting requirements.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders by aligning director compensation with company performance.
• There is no significant impact on employees, customers, suppliers, or creditors.

Key Dates