Form 4: Jackson Financial Inc. Executive Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Christopher Raub, EVP and Chief Risk Officer of Jackson Financial Inc., reports transactions involving common stock and restricted share units.
Summary
- On September 19, 2024, Christopher Raub, the EVP and Chief Risk Officer of Jackson Financial Inc., reported changes in beneficial ownership.
- These changes involve transactions in common stock and restricted share units (RSUs).
- Raub acquired dividend equivalents in the form of RSUs related to underlying equity grants from March 10, 2022, March 10, 2023, September 10, 2023, and March 10, 2024.
- Shares were withheld to cover tax obligations upon the vesting of dividend equivalent units (DEUs) related to RSUs that vested on September 10, 2024.
- A small number of RSUs (0.53) were cashed out due to a change in the Company's Stock Plan Administrator.
- Following these transactions, Raub beneficially owns 24,440.59 shares of common stock and 8,590.36 restricted share units.
Sentiment
Score: 7
Explanation: The sentiment is neutral to slightly positive as the transactions reflect standard compensation practices and increased ownership by the executive, offset by tax obligations.
Positives
- The acquisition of dividend equivalents in the form of RSUs increases the executive's stake in the company.
Negatives
- Shares were withheld to cover tax obligations, reducing the overall increase in share ownership.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders and their holdings in the company's securities.
Stakeholder Impact
- The transactions provide transparency to shareholders regarding executive compensation and ownership.
Key Dates
| Date | Description |
|---|---|
| March 10, 2022 | Date of underlying equity grant for some of the acquired Restricted Share Units (RSUs). |
| March 10, 2023 | Date of underlying equity grant for some of the acquired Restricted Share Units (RSUs). |
| September 10, 2023 | Date of underlying equity grant for some of the acquired Restricted Share Units (RSUs) as a Mid-Cycle Award. |
| March 10, 2024 | Date of underlying equity grant for some of the acquired Restricted Share Units (RSUs). |
| September 5, 2024 | Record date for JFI's dividend for the third quarter of 2024. |
| September 10, 2024 | Date of vesting for restricted share units, leading to tax obligations. |
| September 19, 2024 | Date of the reported transactions. |
| September 23, 2024 | Date of signature on the Form 4 filing. |
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.