Form 4: RGA Executive Raymond Kleeman Reports Stock Appreciation Right and Restricted Share Unit Acquisition

Raymond Kleeman, EVP and Chief HR Officer of Reinsurance Group of America, reports the acquisition of stock appreciation rights and restricted share units.

Summary

• On March 15, 2024, Raymond Kleeman, EVP and Chief HR Officer of Reinsurance Group of America Inc. (RGA), acquired 2,539 stock appreciation rights (SARs) and 931 restricted share units.
• The SARs have an exercise price of $185.28 and expire on March 15, 2034.
• The restricted share units vest in 33 and 1/3% increments over three years and fully vest on December 31, 2026.
• Both the SARs and restricted share units settle in common stock.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing related to executive compensation, indicating a neutral sentiment.

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 across the reinsurance industry.
• Companies like Munich Re, Swiss Re, and Hannover Re also utilize stock options and restricted stock units as part of their executive compensation packages.
• The vesting schedules and terms of these awards are generally comparable across the industry, designed to incentivize long-term performance.

Stakeholder Impact

• The granting 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