Form 4: Reinsurance Group of America Inc. Executive Acquires Stock Appreciation Rights and Restricted Share Units

John W. Hayden, EVP and Controller of Reinsurance Group of America Inc., reports acquisition of stock appreciation rights and restricted share units.

Summary

• On March 6, 2025, John W. Hayden, EVP and Controller of Reinsurance Group of America Inc. (RGA), acquired 1,009 stock appreciation rights and 370 restricted share units.
• The stock appreciation rights have an exercise price of $193 and expire on March 6, 2035.
• The restricted share units vest in 33 and 1/3% increments over three years and fully vest on December 31, 2027.
• Both the stock appreciation rights and restricted share units settle in Common Stock.

Sentiment

Score: 5

Explanation: The document is a neutral regulatory filing. It doesn't contain information that would significantly sway investor sentiment positively or negatively.

Industry Context

This filing is a routine disclosure of executive compensation in the form of equity-based awards, common in the insurance and reinsurance industries to align management interests with shareholder value.

Comparison to Industry Standards

• Equity compensation is a standard practice among publicly traded companies, including reinsurance companies like Munich Re, Swiss Re, and Berkshire Hathaway's reinsurance operations.
• The vesting schedule of the restricted share units (33 and 1/3% increments over three years) is a common vesting structure.
• Stock appreciation rights are also a typical component of executive compensation packages in the financial services sector.

Stakeholder Impact

• The acquisition of stock appreciation rights and restricted share units aligns the executive's interests with those of the shareholders, incentivizing long-term value creation.

Key Dates