Form 4: Jackson Financial Inc. Director Steven A. Kandarian Reports Acquisition of Dividend Equivalents

Director Steven A. Kandarian reports the acquisition of dividend equivalents in the form of Restricted Share Units (RSUs) related to various director awards and retainers.

Summary

• On September 19, 2024, Steven A. Kandarian, a director of Jackson Financial Inc., reported the acquisition of dividend equivalents in the form of Restricted Share Units (RSUs).
• These RSUs are related to several director awards and retainers, including the Director Founders' Award from October 4, 2021, the Annual Director Retainers from October 4, 2021, June 9, 2022, June 1, 2023, and June 1, 2024, and the True-Up Award from January 31, 2022.
• The acquired RSUs are subject to the same terms and conditions as the underlying equity and are fully vested, except for the RSUs from the June 1, 2024 Annual Director Retainer, which vest on June 1, 2025, or the next Annual Meeting of Shareholders, whichever comes first, subject to continued service.
• Upon the director's end of service, vested RSUs will settle in shares of common stock on a one-for-one basis, with fractional shares paid out in cash.
• Following these transactions, Kandarian's total direct holdings in Jackson Financial Inc. common stock amount to 100,105.85 shares.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. The director is increasing their holdings, which signals confidence. However, it's a routine transaction related to compensation.

Positives

• The acquisition of dividend equivalents indicates continued alignment of the director's interests with those of the shareholders.
• The director's significant holdings in Jackson Financial Inc. common stock demonstrate a strong commitment to the company.

Future Outlook

The vested RSUs will settle in shares of common stock on a one-for-one basis upon the director's end of service, with fractional shares paid out in cash.

Industry Context

This filing is a routine disclosure of changes in beneficial ownership by a company director, which is standard practice in the financial industry to ensure transparency and compliance with SEC regulations.

Comparison to Industry Standards

• Director compensation in the form of RSUs is a common practice among publicly traded companies, including those in the financial services sector.
• Companies like Prudential Financial, MetLife, and Lincoln National Corporation also utilize RSU grants as part of their director compensation packages.
• The vesting schedules and settlement terms described in the filing are generally consistent with industry norms for director equity awards.

Stakeholder Impact

• The disclosure provides transparency to shareholders regarding director compensation and ownership.

Key Dates