Form 4: RGA Executive Equity Grant Disclosure

EVP & Chief Strategy Officer Laura Cockrill received equity-based compensation in the form of restricted share units and stock appreciation rights.

Summary

• Laura Cockrill, EVP & Chief Strategy Officer of Reinsurance Group of America (RGA), was granted 786 restricted share units (RSUs) and 2,268 stock appreciation rights (SARs) on March 19, 2026.
• The SARs have an exercise price of $200.50 per share.
• Both the RSUs and SARs vest in 33 1/3% annual increments, with full vesting achieved by March 19, 2029.
• The filing notes that this disclosure was submitted late due to an inadvertent administrative error.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral administrative disclosure; while the equity grant is standard, the late filing reflects a minor internal control oversight.

Positives

• Alignment of executive interests with long-term shareholder value through multi-year vesting schedules.

Negatives

• The filing was submitted late, indicating a lapse in internal administrative compliance regarding SEC reporting requirements.

Risks

• Potential for regulatory scrutiny or reputational impact due to the late filing of the Form 4.

Future Outlook

The equity grants are subject to a three-year vesting schedule, incentivizing the executive's continued tenure and performance through March 2029.

Management Comments

• The filing includes a remark stating: This Form 4 is being filed late due to inadvertent administrative error.

Industry Context

StockSavvy.ai notes that equity-based compensation is standard practice for C-suite executives in the insurance and reinsurance sector to ensure long-term retention and performance alignment.

Comparison to Industry Standards

• The use of RSUs and SARs with a three-year vesting schedule is consistent with standard executive compensation packages at peer firms like Prudential Financial and MetLife.

Stakeholder Impact

• Shareholders are informed of executive compensation structures, ensuring transparency in alignment of interests.

Next Steps

• Vesting of 33 1/3% of the granted units on March 19, 2027.
• Vesting of 33 1/3% of the granted units on March 19, 2028.
• Final vesting of remaining units on March 19, 2029.

Key Dates

Keywords

RGA, Reinsurance Group of America, Form 4, Executive Compensation, Equity Grant, Insider Trading