Form 4: Reinsurance Group of America Executive Exercises Stock Options and Sells Shares for Tax Obligations
SEC Form 4 Filing
Executive Vice President and Controller, John W. Hayden, exercised stock options and sold shares to cover tax obligations on January 16, 2025.
Summary
- John W. Hayden, EVP and Controller at Reinsurance Group of America, executed transactions involving company stock on January 16, 2025.
- He exercised 746 restricted share units (RSUs) granted in March 2022, which vested on December 31, 2024.
- He also exercised 124 restricted share units (RSUs) granted in March 2024, which vest over three years and fully vest on December 31, 2026.
- To cover tax obligations, 249 shares were sold at a price of $223.86 per share from the 2022 RSU exercise and 37 shares were sold at the same price from the 2024 RSU exercise.
- Following these transactions, Mr. Hayden directly owns 17,074 shares of common stock.
Sentiment
Score: 7
Explanation: The document reflects standard executive compensation practices and does not indicate any positive or negative sentiment. It is a neutral event.
Industry Context
This is a routine filing related to executive compensation and is common for publicly traded companies. It reflects the standard practice of executives exercising stock options and selling shares to cover tax liabilities.
Comparison to Industry Standards
- The vesting schedules and tax withholding practices described are typical for executive compensation packages in the insurance and reinsurance industry.
- Many companies, such as Prudential Financial, MetLife, and Lincoln National, use similar RSU structures for their executive compensation.
- The share price used for tax withholding is consistent with standard practices of using the closing price on the transaction date.
Stakeholder Impact
- The transactions have a minimal impact on shareholders as they are part of standard executive compensation practices.
- The sale of shares to cover taxes may have a slight downward pressure on the stock price, but this is likely to be negligible.
Key Dates
| Date | Description |
|---|---|
| 2022-03-22 | Date of grant for 746 restricted share units that vested on December 31, 2024. |
| 2024-03-15 | Date of grant for 124 restricted share units that vest over three years and fully vest on December 31, 2026. |
| 2024-12-31 | Vesting date for the 746 restricted share units granted on March 22, 2022. |
| 2025-01-16 | Date of the stock option exercise and share sales. |
| 2025-01-21 | Date the SEC Form 4 was signed. |
| 2026-12-31 | Full vesting date for the 124 restricted share units granted on March 15, 2024. |
Keywords
stock options, restricted share units, insider trading, executive compensation, SEC Form 4, RGA, Reinsurance Group of America
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