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RGA (NYSE: RGA) EVP receives new stock appreciation rights and RSUs

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(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

REINSURANCE GROUP OF AMERICA Executive Vice President Ronald Herrmann reported compensation-related equity grants on March 19, 2026. He received 6,049 stock appreciation rights tied to common stock at an exercise price of $200.50 per share, expiring on March 19, 2036. He also received restricted share units that settle in common stock. According to the footnote, these stock appreciation rights and restricted share units vest in 33 1/3% increments beginning on the first anniversary of the grant and fully vest on March 19, 2029. These are awards, not open-market purchases or sales, and increase his direct equity-linked exposure to the company.

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Insider HERRMANN RONALD
Role Executive Vice President
Type Security Shares Price Value
Grant/Award Restricted Share Unit - March 2026 2.095 $0.00 --
Grant/Award Stock Appreciation Right (right to purchase) 2026 6,049 $0.00 --
Holdings After Transaction: Restricted Share Unit - March 2026 — 2,095 shares (Direct, null); Stock Appreciation Right (right to purchase) 2026 — 6,049 shares (Direct, null)
Footnotes (1)
  1. [object Object]
Stock appreciation rights granted 6,049 rights Grant to Executive Vice President on March 19, 2026
Exercise price of SARs $200.50 per share Conversion or exercise price for 6,049 stock appreciation rights
SARs expiration date March 19, 2036 Expiration date of the stock appreciation rights grant
RSU grant size 2.095 units Restricted share units granted on March 19, 2026
Vesting schedule 33 1/3% annually to March 19, 2029 Vesting for SARs and RSUs settling in common stock
Stock Appreciation Right financial
"Stock Appreciation Right (right to purchase) 2026"
A stock appreciation right (SAR) is a form of employee pay that gives the holder the right to receive the increase in a company's share price over a set reference price, paid in cash or shares, without having to buy stock first. It matters to investors because SARs can create future cash outflows or dilute existing shareholders if settled in stock, and they align employee incentives with share-price performance like a bonus tied to a home's price rise.
Restricted Share Unit financial
"Restricted Share Unit - March 2026"
A restricted share unit (RSU) is a promise by a company to give an employee a set number of company shares at a future date, typically after meeting time or performance conditions. For investors, RSUs matter because when they convert into actual shares they increase the number of shares outstanding (like unlocking more tickets in a game), which can dilute existing holders, and they align employee incentives with company performance, influencing behavior and long-term value.
vest financial
"settle in common stock, vest in 33 1/3% increments"
A vest is the process by which an employee earns the right to receive certain benefits or ownership interests, such as stock or retirement funds, over time. It’s similar to earning a reward gradually, ensuring that the benefit becomes fully yours only after a set period or meeting specific conditions. This makes it important for investors because it determines when they can actually claim or use those benefits.
Common Stock financial
"Stock appreciation rights and restricted share units settle in common stock"
Common stock represents ownership shares in a company, giving investors a stake in its success and a say in important decisions through voting rights. It is the most common type of stock traded on markets and can provide income through dividends, as well as potential for value growth. For investors, holding common stock means sharing in the company’s profits and risks.
Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number:3235-0287
Estimated average burden
hours per response:0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
1. Name and Address of Reporting Person*
HERRMANN RONALD
(Last)(First)(Middle)
16600 SWINGLEY RIDGE RD.
(Street)
CHESTERFIELD MISSOURI 63017
(City)(State)(Zip)
UNITED STATES
(Country)		2. Issuer Name and Ticker or Trading Symbol
REINSURANCE GROUP OF AMERICA INC [ RGA ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director10% Owner
XOfficer (give title below)Other (specify below)
Executive Vice President
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
03/19/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm filed by One Reporting Person
Form filed by More than One Reporting Person
4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year)2A. Deemed Execution Date, if any (Month/Day/Year)3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeVAmount(A) or (D)Price
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year)3A. Deemed Execution Date, if any (Month/Day/Year)4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year)7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Restricted Share Unit - March 2026(1)03/19/2026A2.095 (1) (1)Common Stock2.095$02,095D
Stock Appreciation Right (right to purchase) 2026$200.5(1)03/19/2026A6,049 (1)03/19/2036Common Stock6,049$06,049D
Explanation of Responses:
1. Stock appreciation rights and restricted share units settle in common stock, vest in 33 1/3% increments, beginning on the first anniversary date of the grant, and fully vest on March 19, 2029.
Remarks:
This Form 4 is being filed late due to inadvertent administrative error.
/s/ My Chi To, by Power of Attorney04/27/2026
** Signature of Reporting PersonDate
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What did RGA executive Ronald Herrmann report in this Form 4 filing for RGA?

Ronald Herrmann reported equity awards, not open-market trades. He received stock appreciation rights and restricted share units that settle in RGA common stock, increasing his direct equity-linked exposure as part of his executive compensation package.

How many stock appreciation rights did RGA grant to Ronald Herrmann?

Ronald Herrmann received 6,049 stock appreciation rights. Each right is tied to RGA common stock at a specified exercise price, functioning like an option and potentially delivering value if the stock trades above the exercise level in the future.

What is the exercise price and expiration date of Herrmann’s RGA stock appreciation rights?

The stock appreciation rights carry an exercise price of $200.50 per share and expire on March 19, 2036. This long-dated structure aligns Herrmann’s potential upside with RGA’s share performance over an extended period.

What vesting schedule applies to Ronald Herrmann’s RGA stock appreciation rights and RSUs?

Both the stock appreciation rights and restricted share units vest in 33 1/3% increments starting on the first anniversary of the March 19, 2026 grant date. They fully vest on March 19, 2029, encouraging multi-year retention and performance alignment.

Are Ronald Herrmann’s reported RGA transactions open-market buys or sells?

No, the transactions are compensation-related awards, not open-market buys or sells. The Form 4 shows grants of stock appreciation rights and restricted share units, classified as acquisitions under transaction code A, with no shares bought or sold in the market.