Form 4: Director Hazel McNeilage Acquires RGA Phantom Stock
Director Compensation Disclosure
Director Hazel McNeilage acquired 817 phantom stock units in Reinsurance Group of America as part of a deferred annual stock grant.
Summary
- Director Hazel McNeilage acquired 817 phantom stock units on May 20, 2026.
- The units were acquired through the deferral of an annual stock grant for services performed as a director.
- Each phantom stock unit converts 1-for-1 into common stock based on fair market value.
- The units are distributable upon the director's retirement from the Board or after a specified five or seven-year deferral period.
Sentiment
Score: 5
Explanation: StockSavvy.ai views this as a neutral, routine administrative filing regarding director compensation that does not signal a change in company strategy or financial health.
Positives
- Demonstrates alignment of director interests with shareholders through equity-based compensation.
- Reflects long-term commitment to the company by the director.
Future Outlook
The phantom stock units will convert to common stock upon the director's retirement or after a five to seven-year deferral period.
Industry Context
StockSavvy.ai notes that this is a routine disclosure of director compensation, common in the insurance and financial services sector to ensure board members maintain a vested interest in company performance.
Comparison to Industry Standards
- The use of deferred phantom stock units is a standard corporate governance practice for independent directors in large-cap financial institutions.
- The 1-for-1 conversion ratio is consistent with standard equity incentive plans for directors at peer companies like Prudential Financial or MetLife.
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Director Compensation | Deferral of annual stock grant into phantom stock units. | 05/20/2026 | Neutral; standard practice for aligning director interests. |
Stakeholder Impact
- Minimal impact on shareholders as this is a standard compensation arrangement.
Next Steps
- Conversion of phantom stock units to common stock upon director retirement or end of deferral period.
Key Dates
| Date | Description |
|---|---|
| 05/20/2026 | Date of transaction for the acquisition of phantom stock units. |
| 05/22/2026 | Date of filing for the Form 4 statement. |
Keywords
RGA, Reinsurance Group of America, Form 4, Insider Trading, Director Compensation, Phantom Stock
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