Form 4: Director Shundrawn Thomas Acquires RGA Phantom Stock

Director Shundrawn Thomas acquired 817 phantom stock units as part of a deferred annual stock grant for board services.

Summary

• Director Shundrawn Thomas received 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 routine administrative filing regarding director compensation, which is neutral for the stock price.

Positives

• Alignment of director interests with shareholders through equity-based compensation.
• Demonstrates long-term commitment to the company by deferring compensation.

Negatives

• None identified.

Risks

• Value of phantom stock is subject to the future market performance of RGA common stock.

Future Outlook

The units will convert to common stock upon the director's retirement or at the end of a five or seven-year deferral period.

Industry Context

StockSavvy.ai notes that director equity deferral programs are standard corporate governance practices in the insurance sector to ensure long-term alignment between board members and shareholders.

Comparison to Industry Standards

• The use of phantom stock for director compensation is consistent with standard practices among large-cap financial services firms.
• The 1-for-1 conversion ratio is standard for equity-linked director compensation plans.

Corporate Governance

Stakeholder Impact

• Shareholders: Minimal impact; reflects standard director compensation structure.

Next Steps

• Conversion of phantom stock units to common stock upon retirement or the end of the deferral period.

Key Dates

Keywords

RGA, Reinsurance Group of America, Form 4, Insider Trading, Director Compensation, Phantom Stock