Form 4: RGA Executive Arthur Ozeki Converts RSUs to Common Stock

Reinsurance Group of America's EVP, Head of Asia Pacific, Arthur Ozeki, converted restricted share units into common stock on January 15, 2026, increasing his direct beneficial ownership.

Summary

• Arthur Ozeki, Executive Vice President and Head of Asia Pacific for Reinsurance Group of America Inc. (RGA), reported changes in his beneficial ownership of RGA common stock.
• On January 15, 2026, Ozeki acquired a total of 961 shares of RGA common stock through the conversion of Restricted Share Units (RSUs).
• The conversions included 232 shares from RSUs granted on March 6, 2025, 153 shares from RSUs granted on March 15, 2024, and 576 shares from RSUs granted on March 9, 2023.
• Each restricted share unit represents a contingent right to receive one share of the Issuer's Common Stock upon settlement.
• Following these transactions, Ozeki's direct beneficial ownership of RGA common stock increased to 10,347 shares.

Sentiment

Score: 6

Explanation: The filing reports a routine conversion of Restricted Share Units into common stock by a key executive, increasing their direct beneficial ownership. This is generally viewed as a positive signal of management's continued alignment with shareholder interests, though it's a scheduled compensation event rather than an open market purchase.

Positives

• Increased direct beneficial ownership by a key executive, Arthur Ozeki, to 10,347 shares, signaling continued alignment with shareholder interests.
• The conversion of Restricted Share Units (RSUs) into common stock demonstrates the executive's long-term commitment to the company.

Future Outlook

Future vesting of remaining Restricted Share Units for Arthur Ozeki is scheduled, with full vesting dates on December 31, 2026, and December 31, 2027, for different tranches of RSUs.

Industry Context

This Form 4 filing reports a routine insider transaction related to equity compensation, which is a common practice across all industries, including the reinsurance sector. It does not provide specific insights into broader industry trends or competitive landscape.

Comparison to Industry Standards

• The use of Restricted Share Units (RSUs) as a form of executive compensation, with multi-year vesting schedules, is a standard practice in publicly traded companies, including those in the financial and insurance sectors like Reinsurance Group of America. This aligns with typical long-term incentive plans designed to align executive interests with shareholder value creation.

Related Party Transactions

• The RSU conversions are part of an executive compensation plan, which is a standard, disclosed compensation mechanism between the company and an executive.

Stakeholder Impact

• Shareholders: Increased insider ownership may be viewed positively as it aligns executive incentives with shareholder value creation.
• Employees: No direct impact on general employees.
• Customers, Suppliers, Creditors: No direct impact.

Next Steps

• Continued vesting of outstanding Restricted Share Units for Arthur Ozeki on December 31, 2026, and December 31, 2027.

Key Dates

Recommendation

This Form 4 reports a routine conversion of Restricted Share Units (RSUs) into common stock by a senior executive. While an increase in insider ownership is generally a positive signal, indicating management's continued commitment and alignment with shareholder interests, this is a scheduled compensation event rather than a discretionary open market purchase. As such, it does not provide new fundamental information that would warrant a change in investment recommendation, but rather reinforces a 'hold' position based on existing company fundamentals.

Keywords

RGA, Reinsurance Group of America, Arthur Ozeki, Form 4, insider transaction, RSU conversion, common stock, executive compensation