Kalmbach Thomas Peter 4

What Happened

• Thomas P. Kalmbach, Executive Vice President & Chief Financial Officer of Globe Life (GL), exercised options and sold shares on May 19, 2026. He exercised 15,000 shares at a strike of $103.23 (cost = $1,548,450). On the same day he disposed of 11,903 shares in an open-market sale for reported proceeds of $1,864,186 (average price reported $156.61). The filing also lists a 15,000-share derivative disposition at $0 (see key details/footnotes).

Key Details

• Transaction dates: May 19, 2026 (reported on Form 4 filed May 20, 2026).
• Exercises: 15,000 shares exercised at $103.23 each (total $1,548,450).
• Sale: 11,903 shares sold in open market for $1,864,186 (average ~ $156.61; prices ranged $156.145–$157.05 per footnote).
• Derivative disposition: 15,000 shares listed as disposed at $0 (reported separately on the form).
• Shares owned after transaction: Not specified in the supplied data.
• Footnotes: F1 notes the reporting person will supply per-price sale breakdown on request; F2 shows sale-price range $156.145–$157.05.
• Timeliness: Filed the next day (May 20) for the May 19 transactions — appears timely under Form 4 rules.

Context

• This filing shows an option exercise (code M) plus an open-market sale (code S). When insiders both exercise and sell shares on the same date it can be a cashless or partial cashless exercise strategy or a tax/withholding-related surrender — the $0 derivative disposition likely represents surrendered shares (the filing lists it but does not explain). These are routine insider transactions; the sale generated roughly $1.86M of proceeds while the exercise converted options into shares at a $103.23 strike.