Form 4: Reinsurance Group of America Director Acquires Shares Through Deferral Program

Director George Nichols III acquires 1,367 shares of Reinsurance Group of America Inc. through deferral of annual retainer and stock grant.

Summary

• On May 22, 2024, George Nichols III, a director of Reinsurance Group of America Inc. (RGA), acquired 1,367 shares of common stock.
• The acquisition was made through the deferral of his annual retainer (589 shares) and stock grant (778 shares) as compensation for services performed as a director.
• The price of the common stock at the time of acquisition was $212.2.
• The director now beneficially owns a total of 1,367 phantom shares, which are distributable upon retirement from the Board according to elected distribution options.

Sentiment

Score: 7

Explanation: The sentiment is neutral to positive. It reflects a director's continued investment in the company through a standard compensation mechanism.

Positives

• The acquisition reflects the director's continued investment and confidence in the company.
• The deferral program aligns the director's interests with the long-term performance of the company.

Future Outlook

The director can elect to receive payment (1) upon retirement or (2) after a five or seven year deferral period. Distributable upon director's retirement from the Board in accordance with distribution elections.

Industry Context

Directors often receive stock as part of their compensation, aligning their interests with shareholders. Deferral programs are common to incentivize long-term commitment.

Comparison to Industry Standards

• Director compensation packages often include a mix of cash, stock options, and restricted stock units (RSUs).
• Deferral programs are a common practice among publicly traded companies to encourage long-term alignment between directors and shareholders.
• Companies like Prudential Financial and MetLife also utilize similar compensation structures for their board members.

Stakeholder Impact

• The transaction signals confidence in the company's future prospects to shareholders.
• The director's alignment with long-term value creation benefits shareholders.

Key Dates