Form 4: Reinsurance Group of America EVP, CIO Acquires Stock Appreciation Rights and Restricted Share Units

Mark J. Brooks, EVP and CIO of Reinsurance Group of America, acquired stock appreciation rights and restricted share units on March 15, 2024.

Summary

• On March 15, 2024, Mark J. Brooks, the EVP and CIO of Reinsurance Group of America Inc. (RGA), acquired 2,525 stock appreciation rights and 926 restricted share units.
• The price for both the stock appreciation rights and restricted share units was $185.28.
• The stock appreciation rights expire on March 15, 2034.
• Both the stock appreciation rights and restricted share units vest in 33 and 1/3% increments over three years, fully vesting on December 31, 2026.
• The reporting person directly owns the securities.

Sentiment

Score: 6

Explanation: The sentiment is neutral as it reports a standard executive compensation transaction. It doesn't inherently indicate positive or negative performance, but rather aligns executive interests with shareholders.

Positives

• The acquisition of stock appreciation rights and restricted share units by a high-ranking executive may signal confidence in the company's future performance.

Industry Context

Executive compensation in the form of stock appreciation rights and restricted share units is a common practice in the reinsurance industry to align management's interests with those of shareholders.

Comparison to Industry Standards

• Companies like Prudential Financial, MetLife, and Manulife Financial also utilize stock-based compensation for their executives.
• The vesting schedules and terms of these grants are generally in line with industry norms, aiming to incentivize long-term performance and retention.

Stakeholder Impact

• The acquisition of stock appreciation rights and restricted share units by an executive can potentially align the executive's interests with those of the shareholders, as the value of these rights is tied to the company's stock performance.

Key Dates