Form 4: Reinsurance Group of America Director Hazel McNeilage Receives Phantom Stock Grant

Reinsurance Group of America (RGA) Director Hazel McNeilage was granted 810 shares of phantom stock as compensation for her services, aligning her interests with shareholders.

Summary

• Hazel McNeilage, a Director at Reinsurance Group of America Inc. (RGA), acquired 810 shares of phantom stock on May 21, 2025.
• The phantom stock was acquired as a deferral of a stock grant for services performed as an independent director.
• Each phantom stock unit is convertible on a 1-for-1 basis to common stock, based on the fair market value of RGA's Common Stock, which was $203.75 per share at the time of the transaction.
• Following this transaction, Ms. McNeilage beneficially owns 810 shares of phantom stock directly.
• The director has the option to receive payment upon retirement or after a five or seven-year deferral period, with distribution occurring upon retirement from the Board.

Sentiment

Score: 5

Explanation: The document reports a routine insider compensation transaction, which is neutral in terms of immediate positive or negative impact on the company's operational or financial performance. It reflects standard corporate governance practices.

Positives

• The grant of phantom stock to a director aligns their financial interests with those of the company's shareholders, promoting long-term value creation.
• This is a routine compensation mechanism for independent directors, indicating stable corporate governance practices.

Future Outlook

The phantom stock is distributable upon the director's retirement from the Board or after a five or seven-year deferral period, based on the director's election.

Industry Context

This filing is a standard disclosure of an insider transaction, specifically director compensation, which is a common practice across publicly traded companies in the financial services and insurance sectors to attract and retain qualified board members.

Corporate Governance

Related Party Transactions

• The acquisition of phantom stock by Director Hazel McNeilage constitutes a related party transaction, as it involves compensation from the company to a member of its board of directors.

Stakeholder Impact

• Shareholders: The grant of phantom stock aligns the director's interests with shareholders, potentially leading to better long-term decision-making focused on share price appreciation.

Next Steps

• Distribution of the phantom stock to Director McNeilage upon her retirement from the Board or after a selected deferral period (five or seven years).

Key Dates

Keywords

Reinsurance Group of America, RGA, Form 4, Insider Transaction, Phantom Stock, Director Compensation, Equity Grant, Corporate Governance