Brighthouse Financial Announces Voluntary Sale Program

Rhea-AI Summary

Brighthouse Financial (BHF) announced a voluntary program for stockholders owning fewer than 100 shares to sell their shares conveniently. This initiative, which will be administered by Georgeson LLC, aims to cut down administrative costs. Stockholders will incur a processing fee of $3.65 per share, capped at $60 per account. Notifications will be sent by mail on October 25, 2021, with a participation deadline of January 7, 2022, unless extended. The company will not buy back shares nor recommend participation in this program.

Positive

• Voluntary program provides a convenient selling option for small shareholders.
• Reduces administrative costs for the company.

Negative

• Processing fee of $3.65 per share may deter participation.
• The program is limited to stockholders with fewer than 100 shares, potentially excluding larger investors.

CHARLOTTE, N.C.--(BUSINESS WIRE)-- Brighthouse Financial, Inc. (“Brighthouse Financial” or the “company”) (Nasdaq: BHF) announced today that it will offer a voluntary program through which stockholders owning fewer than 100 shares of Brighthouse Financial’s common stock, as of October 7, 2021, may sell all of their shares. This program allows eligible stockholders to sell their shares in a convenient and efficient manner, and helps the company reduce administrative costs.

Brighthouse Financial’s program will be independently administered by Georgeson LLC, a Computershare, Inc. company. Computershare Trust Company, N.A., the company’s transfer agent, will serve as paying agent for the program.

Stockholders participating in this program will be assessed a processing fee by Georgeson of $3.65 per share sold, with a maximum fee of $60 per account, to defray the costs of the program. Eligible stockholders will be informed of the program by mail starting October 25, 2021, and will have until January 7, 2022, to participate, unless the program is terminated or extended by the company. Shares held in the company’s employee benefit plans are excluded from this program.

Brighthouse Financial will not buy any shares sold by its stockholders through, or otherwise participate in, this program. Neither Georgeson nor Brighthouse Financial is making any recommendation to stockholders regarding their participation in this voluntary program.

Brighthouse Financial stockholders can call Georgeson at (866) 820-7667 Monday to Friday, 8:00 a.m. to 6:30 p.m. Eastern Time, for additional information.

Note Regarding Forward-Looking Statements

This news release and other oral or written statements that we make from time to time may contain information that includes or is based upon forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve substantial risks and uncertainties. We have tried, wherever possible, to identify such statements using words such as “anticipate,” “estimate,” “expect,” “project,” “may,” “will,” “could,” “intend,” “goal,” “target,” “guidance,” “forecast,” “preliminary,” “objective,” “continue,” “aim,” “plan,” “believe” and other words and terms of similar meaning, or that are tied to future periods, in connection with a discussion of future operating or financial performance. In particular, these include, without limitation, statements relating to future actions, prospective services or products, financial projections, future performance or results of current and anticipated services or products, sales efforts, expenses, the outcome of contingencies such as legal proceedings, as well as trends in operating and financial results.

Any or all forward-looking statements may turn out to be wrong. They can be affected by inaccurate assumptions or by known or unknown risks and uncertainties. Many such factors will be important in determining the actual future results of Brighthouse Financial. These statements are based on current expectations and the current economic environment and involve a number of risks and uncertainties that are difficult to predict. These statements are not guarantees of future performance. Actual results could differ materially from those expressed or implied in the forward-looking statements due to a variety of known and unknown risks, uncertainties and other factors. Risks, uncertainties and other factors that might cause such differences include the risks, uncertainties and other factors identified in Brighthouse Financial’s most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q, particularly in the sections entitled “Risk Factors” and “Quantitative and Qualitative Disclosure About Market Risk,” as well as in Brighthouse Financial’s other subsequent filings with the U.S. Securities and Exchange Commission. Further, any forward-looking statement speaks only as of the date on which it is made, and Brighthouse Financial does not undertake any obligation to update or revise any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events, except as otherwise may be required by law.

About Brighthouse Financial, Inc.

Brighthouse Financial, Inc. (Brighthouse Financial) (Nasdaq: BHF) is on a mission to help people achieve financial security. As one of the largest providers of annuities and life insurance in the U.S.,¹ we specialize in products designed to help people protect what they’ve earned and ensure it lasts. Learn more at brighthousefinancial.com.

¹ Ranked by 2020 admitted assets. Best’s Review^®: Top 200 U.S. Life/Health Insurers. A.M. Best, 2021.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211022005395/en/

FOR INVESTORS

Dana Amante

(980) 949-3073

damante@brighthousefinancial.com

FOR MEDIA

Deon Roberts

(980) 949-3071

deon.roberts@brighthousefinancial.com

Source: Brighthouse Financial, Inc.

FAQ

What is Brighthouse Financial's voluntary stock program for shareholders with fewer than 100 shares?

Brighthouse Financial is offering a program that allows shareholders with fewer than 100 shares to sell their shares efficiently, administered by Georgeson LLC.

What is the deadline for shareholders to participate in the Brighthouse Financial program?

Eligible shareholders can participate in the program until January 7, 2022, unless extended.

What fees are associated with the Brighthouse Financial stockholder program?

Shareholders will incur a processing fee of $3.65 per share sold, capped at a maximum of $60 per account.

When will shareholders be notified about the Brighthouse Financial program?

Notifications about the program will be mailed to eligible stockholders starting October 25, 2021.

Does Brighthouse Financial buy back shares in this program?

No, Brighthouse Financial will not buy any shares sold through this program.