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

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

Reinsurance Group of America executive Cormac Galvin received new equity-based awards as part of his compensation. He was granted stock appreciation rights covering 1,572 shares of common stock at an exercise price of $200.50 per share and 544 restricted share units. These awards settle in common stock and vest in equal one-third installments each year, beginning on the first anniversary of the March 19, 2026 grant date, and fully vest on March 19, 2029.

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Insider Galvin Cormac
Role EVP, Head of EMEA
Type Security Shares Price Value
Grant/Award Restricted Share Unit - March 2026 544 $0.00 $0.00
Grant/Award Stock Appreciation Right (right to purchase) 2026 1,572 $0.00 $0.00
Holdings After Transaction: Restricted Share Unit - March 2026 — 544 shares (Direct); Stock Appreciation Right (right to purchase) 2026 — 1,572 shares (Direct)
Footnotes (1)
  1. F1. 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.
Stock appreciation rights granted 1,572 shares Grant of stock appreciation rights on March 19, 2026
SAR exercise price $200.50 per share Exercise price for stock appreciation rights
Restricted share units granted 544 units Grant of RSUs on March 19, 2026
Full vesting date March 19, 2029 Awards vest in thirds annually until fully vested
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.
exercise price financial
"conversion_or_exercise_price": "200.5000""
The exercise price is the fixed amount at which you can buy or sell an asset, like a stock, when using an options contract. It matters because it helps determine whether exercising the option will be profitable or not, depending on the current market price. Think of it as the set price you agree on today to buy or sell later.
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.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Form 4 Insider Transactions: What Each Field Means →

FAQ

What did RGA executive Cormac Galvin report in this Form 4 filing?
Cormac Galvin reported receiving equity-based compensation from Reinsurance Group of America. The filing shows grants of stock appreciation rights and restricted share units that settle in common stock, reflecting routine awards rather than open‑market stock purchases or sales.

How many stock appreciation rights did Cormac Galvin receive from RGA?
Cormac Galvin received stock appreciation rights covering 1,572 shares of Reinsurance Group of America common stock. These rights have an exercise price of $200.50 per share and represent compensation that may convert into shares if vesting and exercise conditions are satisfied.

What restricted share units were granted to Cormac Galvin by RGA?
Cormac Galvin was granted 544 restricted share units linked to Reinsurance Group of America common stock. These units represent a right to receive shares in the future, subject to the vesting schedule outlined in the grant, rather than an immediate stock purchase or sale.

What is the vesting schedule for Cormac Galvin’s RGA equity awards?
Both the stock appreciation rights and restricted share units vest in equal 33 1/3% increments. Vesting begins on the first anniversary of the March 19, 2026 grant date and continues annually until full vesting on March 19, 2029, provided applicable conditions are met.

Do Cormac Galvin’s stock appreciation rights and RSUs settle in RGA common stock?
Yes, the filing states that the stock appreciation rights and restricted share units settle in Reinsurance Group of America common stock. This means that, upon vesting and, for the rights, exercise, the compensation is delivered in company shares rather than cash.

Were any open-market RGA stock purchases or sales reported in this Form 4?
No open-market purchases or sales were reported. The transactions involve grants of stock appreciation rights and restricted share units, both categorized as grant or award acquisitions, rather than discretionary buying or selling of Reinsurance Group of America shares in the market.
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*
Galvin Cormac
(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)
EVP, Head of EMEA
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)03/19/2026A544 (1) (1)Common Stock544$0544D
Stock Appreciation Right (right to purchase) 2026$200.5(1)03/19/2026A1,572 (1)03/19/2036Common Stock1,572$01,572D
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