Form 4: RGA Officer Laura Cockrill Reports RSU Vesting & Stock Transactions

Reinsurance Group of America's EVP & Chief Strategy Officer, Laura Cockrill, reported the vesting of restricted share units and subsequent common stock transactions, including tax-related sales, scheduled for January 15, 2026.

Summary

• Laura Cockrill, EVP & Chief Strategy Officer of Reinsurance Group of America Inc. (RGA), reported transactions involving the vesting of Restricted Share Units (RSUs) and subsequent common stock activity.
• On January 15, 2026, 112 shares of common stock were acquired upon the vesting of March 2025 RSUs, which had an exercise price of $193.
• Concurrently, 39 shares of common stock were disposed of at a price of $196.73, likely for tax withholding purposes.
• Additionally, 89 shares of common stock were acquired from the vesting of March 2024 RSUs, with an exercise price of $185.28.
• Another 31 shares of common stock were disposed of at $196.73, also likely for tax withholding.
• Furthermore, 231 shares of common stock were acquired from the vesting of March 2023 RSUs, with an exercise price of $138.34.
• A final disposition of 80 shares of common stock occurred at $196.73, again likely for tax withholding.
• Following these transactions, Laura Cockrill directly beneficially owns 2,046 shares of RGA Common Stock.
• All reported transactions are pursuant to a Rule 10b5-1(c) pre-arranged trading plan.

Sentiment

Score: 6

Explanation: The filing reports routine, pre-scheduled executive compensation events (RSU vesting and tax-related sales) under a 10b5-1 plan. This is a neutral event, slightly positive as it shows executive compensation alignment, but not significantly impactful on its own.

Positives

• The vesting of Restricted Share Units indicates the fulfillment of long-term incentive compensation for a key executive.
• The transactions are part of a pre-arranged Rule 10b5-1(c) plan, demonstrating structured and compliant insider trading.

Negatives

• A portion of the vested shares were sold to cover tax obligations, which is a common practice but reduces the executive's direct equity holding from the gross vested amount.

Future Outlook

The filing indicates future vesting schedules for Restricted Share Units, with full vesting dates extending to December 31, 2027, for certain grants, suggesting ongoing long-term incentive alignment for the executive.

Industry Context

This filing reflects routine executive compensation practices within the insurance and reinsurance industry, where Restricted Share Units are a common component of long-term incentive plans designed to align executive interests with shareholder value over multi-year periods.

Stakeholder Impact

• Shareholders: Minor, as these are routine compensation events. The executive's direct ownership remains substantial, indicating continued alignment.
• Management: The EVP & Chief Strategy Officer continues to receive long-term equity compensation, aligning her interests with the company's performance.

Next Steps

• Future vesting of remaining Restricted Share Units for Laura Cockrill on December 31, 2025, December 31, 2026, and December 31, 2027, as per the original grant terms.

Key Dates

Recommendation

This Form 4 reports routine, pre-scheduled executive compensation events (RSU vesting and subsequent tax-related sales) under a Rule 10b5-1 plan. Such transactions are generally neutral and do not provide new fundamental information about the company's operational performance or strategic direction that would warrant a change in investment recommendation. The executive's continued equity ownership maintains alignment with shareholder interests.

Keywords

Reinsurance Group of America, RGA, Laura Cockrill, Form 4, Insider Trading, Restricted Share Units, RSU Vesting, Common Stock, Executive Compensation, Rule 10b5-1, Officer Transactions