Form 4: Jackson Financial Inc. Director Steven A. Kandarian Reports Acquisition of Dividend Equivalents
SEC Form 4 Filing
Director Steven A. Kandarian reports acquiring dividend equivalents in the form of Restricted Share Units (RSUs) related to previous director awards and retainers.
Summary
- On March 21, 2024, Steven A. Kandarian, a director of Jackson Financial Inc., acquired dividend equivalents in the form of Restricted Share Units (RSUs).
- These RSUs are linked to several director awards and retainers, including the October 4, 2021, Director Founders' Award, the October 4, 2021 Annual Director Retainer, the January 31, 2022 True-Up Award, the June 9, 2022 Annual Director Retainer, and the June 1, 2023 Annual Director Retainer.
- The acquired RSUs are subject to the same terms and conditions as the underlying equity.
- 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 beneficial ownership of Jackson Financial Inc. common stock is 94,112.53 shares.
Sentiment
Score: 7
Explanation: The document reflects a routine transaction related to director compensation, indicating stability and adherence to established practices. The sentiment is neutral to slightly positive as it reflects ongoing commitment.
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.
Industry Context
This filing is a routine disclosure of a director's acquisition of dividend equivalents, which is a common practice in executive compensation.
Stakeholder Impact
- The acquisition of RSUs by a director signals continued alignment of interests with shareholders.
Key Dates
| Date | Description |
|---|---|
| 10/04/2021 | Date of Director Founders' Award and Annual Director Retainer |
| 01/31/2022 | Date of True-Up Award |
| 06/09/2022 | Date of Annual Director Retainer |
| 06/01/2023 | Date of Annual Director Retainer |
| 03/21/2024 | Date of transaction (acquisition of dividend equivalents) |
| 03/25/2024 | Date of signature on the Form 4 |
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