MAJORS MICHAEL CLAY 4

What Happened
Michael Clay Majors, EVP & Chief Strategy Officer at Globe Life (GL), received multiple equity awards and had shares withheld to cover tax/exercise obligations. The filing shows grants of 9,578 shares on 2026-02-25 and two additional acquisitions on 2026-02-27: 1,140 shares and a 12,500-share derivative award — all reported at $0.00 (awards). Separately, 3,769 shares were surrendered/withheld on 2026-02-25 to satisfy tax liability or exercise-related costs at $144.15 per share, a total value of $543,301 (transaction code F).

Key Details

• Transaction dates and amounts:
  • 2026-02-25: Award of 9,578 shares @ $0.00 (acquired)
  • 2026-02-25: 3,769 shares withheld/disposed @ $144.15 to cover tax/exercise = $543,301 (code F)
  • 2026-02-27: Award of 1,140 shares @ $0.00 (acquired)
  • 2026-02-27: Derivative award of 12,500 shares @ $0.00 (acquired)
• Shares owned after the transactions: Not specified in the filing.
• Footnote: Awards/derivatives are subject to vesting/exercisability — first exercisable 50% on 2028-02-27 and remaining 50% on 2029-02-27.
• Filing: Report filed 2026-02-27 covering transactions on 02-25 and 02-27; appears filed within the standard 2-business-day Form 4 window.
• Codes: A = award/grant, F = payment of exercise price or tax liability (withholding), derivative entry indicates awards tied to future vesting/exercise.

Context
The withheld/disposed shares were used to satisfy tax or exercise obligations (a common cashless mechanism) rather than an open-market sale, so it is not necessarily a bearish signal. The awards reported at $0.00 are grants/derivative awards and come with a vesting/exercise schedule (see footnote). For retail investors, direct purchases by insiders are typically more informative than routine withholding or scheduled awards.