Form 4: RGA Executive Converts RSUs, Sells Shares for Tax

Cormac Galvin, EVP and Head of EMEA at Reinsurance Group of America, converted restricted share units into common stock and subsequently sold a portion to cover tax obligations.

Summary

• Cormac Galvin, Executive Vice President and Head of EMEA for Reinsurance Group of America Inc. (RGA), reported transactions involving the conversion of Restricted Share Units (RSUs) into common stock and subsequent sale of shares.
• On January 15, 2026, Galvin converted 101 RSUs (granted March 6, 2025) into 101 shares of common stock.
• On the same date, 48 shares of common stock were disposed of at a price of $196.73 per share, likely to cover tax liabilities related to the RSU vesting.
• Additionally, 95 RSUs (granted March 15, 2024) were converted into 95 shares of common stock.
• 45 shares of common stock were disposed of at $196.73 per share on January 15, 2026, for tax purposes.
• Furthermore, 321 RSUs (granted March 9, 2023) were converted into 321 shares of common stock.
• 151 shares of common stock were disposed of at $196.73 per share on January 15, 2026, also for tax purposes.
• Following these transactions, Galvin's direct beneficial ownership of RGA common stock is 2,740 shares.

Sentiment

Score: 5

Explanation: The filing reports routine executive compensation transactions (RSU vesting and tax-related sales). These are standard events and do not inherently indicate a positive or negative sentiment regarding the company's operational or financial performance.

Positives

• The vesting and conversion of Restricted Share Units represent the realization of executive compensation, indicating a successful fulfillment of performance or tenure conditions.
• The executive's beneficial ownership of common stock remains substantial at 2,740 shares, demonstrating continued alignment with shareholder interests.

Negatives

• A total of 244 shares of common stock were sold to cover tax liabilities, which reduces the executive's direct equity stake in the company.

Future Outlook

This Form 4 filing is a report of past insider transactions and does not contain forward-looking statements or guidance regarding the company's future performance or outlook.

Industry Context

This is a routine insider transaction filing (Form 4) reporting the vesting of executive compensation and subsequent 'sell to cover' tax sales. It does not provide information directly related to broader industry trends or competitive positioning within the reinsurance sector.

Stakeholder Impact

• Shareholders: The transactions represent a routine compensation event for an executive. The sale of shares for tax purposes is common and does not typically signal a change in company fundamentals or executive confidence. The executive retains a significant stake, maintaining alignment with shareholder interests.
• Employees: The vesting of RSUs is a standard component of executive compensation packages, which can serve as a benchmark for other equity-based incentive programs within the company.

Key Dates

Keywords

RGA, Reinsurance Group of America, Form 4, Insider Transaction, Restricted Share Units, RSU Conversion, Executive Compensation, Stock Sale, Tax Liability