Form 4: F&G Annuities & Life Director Raymond Quirk Receives Stock Grant in Lieu of Cash Fees

Raymond R. Quirk, a Director at F&G Annuities & Life, Inc., received a grant of 845 shares of unrestricted common stock on July 1, 2025, as compensation for director fees.

Summary

• Raymond R. Quirk, a Director of F&G Annuities & Life, Inc. (FG), acquired 845 shares of common stock on July 1, 2025.
• The acquisition was a grant of unrestricted common stock, with a price of $0 per share, made in lieu of cash director fees.
• Following this transaction, Raymond R. Quirk directly beneficially owns 16,978 shares of common stock.
• Additionally, indirect beneficial ownership includes 41 shares through a 401(k) and 152,696 shares through the Quirk 2002 Trust, totaling 169,715 shares beneficially owned.

Sentiment

Score: 6

Explanation: The sentiment is slightly positive as the transaction represents a routine, non-cash compensation method for a director, aligning their interests with shareholders and conserving company cash. It does not indicate any negative operational or financial issues.

Positives

• The grant of stock in lieu of cash fees conserves company cash, which can be beneficial for liquidity and operational flexibility.
• Increases director's alignment with shareholder interests through direct equity ownership.

Negatives

• The issuance of new shares, even for compensation, can lead to minor dilution for existing shareholders, though the amount in this instance is negligible.

Future Outlook

The document does not contain any forward-looking statements or guidance beyond the reported transaction.

Industry Context

The practice of compensating directors with equity, such as unrestricted common stock, is a common corporate governance practice across various industries, including the financial services and insurance sectors, to align management and director incentives with shareholder value creation.

Comparison to Industry Standards

• Compensating directors with equity is a standard practice in the financial services industry, aligning director interests with long-term company performance, similar to practices at peers like Prudential Financial, Inc. (PRU) or MetLife, Inc. (MET).
• The specific amount of shares granted (845 shares) is a routine compensation component for a director, consistent with typical non-executive director compensation packages in companies of similar market capitalization within the annuities and life insurance sector.

Related Party Transactions

• The transaction involves a grant of common stock to Raymond R. Quirk, a Director of F&G Annuities & Life, Inc., which constitutes a related party transaction as it is compensation provided by the company to a member of its board.

Stakeholder Impact

• Shareholders: Minor, negligible dilution from the issuance of new shares for compensation, but improved alignment of director interests with shareholder value.
• Company: Conservation of cash by issuing stock instead of cash for director fees.

Key Dates

Recommendation

Keywords

F&G Annuities & Life, FG, SEC Form 4, Director Compensation, Stock Grant, Equity Compensation, Insider Transaction, Beneficial Ownership, Raymond R. Quirk