Form 4: Corebridge Financial CEO Kevin Hogan Reports Stock and Option Awards

Corebridge Financial CEO Kevin T. Hogan reports the acquisition of restricted stock units and employee stock options.

Summary

• Kevin T. Hogan, CEO of Corebridge Financial, Inc., filed a Form 4 on February 21, 2025, reporting transactions related to Corebridge's stock.
• On February 19, 2025, Hogan received 58,351 Restricted Stock Units (RSUs) under the company's 2022 Omnibus Incentive Plan, which vest in equal installments over three years.
• Each RSU represents the right to receive one share of Corebridge common stock upon vesting, contingent on continued employment.
• Hogan also acquired 224,883 employee stock options with an exercise price of $33.55, vesting in three equal annual installments beginning February 19, 2026, also contingent on continued employment.
• Following these transactions, Hogan beneficially owns 337,084 shares of common stock (including RSUs) and 354,584 derivative securities (employee stock options).

Sentiment

Score: 7

Explanation: The document reflects a standard executive compensation practice, indicating stability and alignment of interests. The sentiment is neutral to positive as it suggests confidence in the company's future.

Positives

• The granting of RSUs and stock options to the CEO aligns his interests with those of the shareholders.
• The vesting schedules of the RSUs and stock options incentivize continued employment and performance.

Risks

• The value of the RSUs and stock options is dependent on the future performance of Corebridge Financial's stock.
• Hogan's departure from the company before the vesting dates would result in the forfeiture of unvested RSUs and stock options.

Future Outlook

The document does not contain specific forward-looking statements beyond the vesting schedules of the granted securities.

Industry Context

Granting stock options and RSUs to key executives is a common practice in the financial industry to incentivize performance and align management's interests with shareholders. These grants are typically part of a broader compensation package designed to attract and retain top talent.

Comparison to Industry Standards

• Stock option and RSU grants are standard compensation tools used across the financial services industry.
• Companies like Prudential, MetLife, and AIG also utilize similar equity-based compensation plans for their executives.
• The vesting schedules and grant sizes are generally benchmarked against peer companies to ensure competitiveness.

Stakeholder Impact

• Shareholders may view the equity grants positively as they align management's interests with the company's long-term success.
• Employees may be motivated by the potential for similar equity-based compensation opportunities.

Key Dates