Form 4: RGA Executive Exercises SARs, Adjusts Holdings

Simon Wainwright, an Executive Advisor to the CEO of Reinsurance Group of America, exercised stock appreciation rights and adjusted his common stock holdings.

Summary

• Simon Wainwright, Executive Advisor to the CEO of Reinsurance Group of America Inc. (RGA), reported transactions on February 10, 2026.
• Exercised Stock Appreciation Rights (SARs) to acquire 2,671 shares of common stock at an exercise price of $93.53 per share.
• 1,149 shares were withheld to cover the exercise price of the common stock.
• An additional 716 shares were withheld to satisfy company tax withholding obligations at a price of $217.51 per share.
• The net settlement resulted in 806 shares.
• Following these transactions, Wainwright directly beneficially owns 13,943 shares of RGA common stock.
• The SARs were granted on March 4, 2016, and vested in 25% increments on December 31, 2016, 2017, 2018, and 2019, with an expiration date of March 4, 2026.

Sentiment

Score: 6

Explanation: StockSavvy.ai views this as a routine, slightly positive event, as an executive is realizing value from previously granted equity compensation, which typically implies the stock has performed well.

Positives

• The exercise of Stock Appreciation Rights indicates that the underlying stock price has appreciated significantly since the grant date, allowing the executive to realize value.
• The executive chose to exercise vested SARs, demonstrating confidence in the value of the compensation.

Negatives

• A significant portion of shares (1,149 for exercise price and 716 for taxes) were withheld, reducing the net shares received by the executive. This is a common practice but results in a reduction of direct ownership.

Future Outlook

NA

Industry Context

StockSavvy.ai notes that Form 4 filings provide transparency into insider trading activities, which can sometimes signal management's confidence or lack thereof in the company's future prospects. In the reinsurance industry, executive compensation often includes equity components like SARs to align management interests with long-term shareholder value.

Comparison to Industry Standards

• Insider transactions like SAR exercises are standard components of executive compensation packages across various industries, including reinsurance.
• The specific terms (grant price, vesting schedule) are typical for long-term incentive plans designed to reward executives for sustained company performance.
• No specific comparable companies, projects, or results are mentioned in the filing to allow for a direct comparison of results.

Stakeholder Impact

• Shareholders: The transaction is a routine exercise of equity compensation and has a minimal direct impact on the company's overall share structure or value. It reflects an executive realizing value from their compensation.
• Employees: No direct impact on employees.
• Customers/Suppliers/Creditors: No direct impact on these stakeholders.

Key Dates

Keywords

RGA, Form 4, Insider Transaction, Stock Appreciation Rights, Executive Compensation, Reinsurance Group of America