Frias Yanela 4

What Happened

• Yanela Frias, EVP and CFO of Prudential Financial (PRU), reported multiple equity transactions on Feb 9, 2026. She exercised/converted derivative awards and received new restricted/performance share awards. As part of the transactions, 1,567 shares were withheld to cover tax obligations, valued at $102.20 per share (~$160,147).
• Details reported: converted 8,935 derivative units (4,190 shares acquired; 4,745 shares surrendered/disposed), and was granted 16,635 and 49,903 shares (total 66,538) as restricted stock units / performance shares. Most items show $0 per-share price because these were awards or conversions rather than open-market purchases.

Key Details

• Transaction date: February 9, 2026 (Form 4 filed Feb 11, 2026; no late filing indicated).
• Tax withholding: 1,567 shares withheld at $102.20 = $160,147 (footnote F2).
• Derivative conversions: 4,190 shares acquired and 4,745 shares disposed/surrendered (codes M: exercise/conversion).
• Grants/awards: 16,635 and 49,903 RSUs/performance shares granted (codes A); total granted = 66,538 shares.
• Conversion/vesting mechanics: RSUs and performance shares convert 1-for-1 to common stock (F4, F6). RSUs vest 1/3 per year starting Feb 2027 (F5).
• Performance determination: The number of performance shares was set based on Prudential’s ROE vs. peers and growth in adjusted book value per share for the 2023–2025 period (F1). A separate footnote explains how future performance awards are target-based and will be finalized after their performance period (F7).
• Minor update: filing includes a one-share plan acquisition adjustment from the employee savings plan (F3).
• Shares owned after the transactions: not specified in the filing.

Context

• These transactions are largely compensation-related (awards and conversions), not open-market buying or selling meant as a personal investment signal. The withholding of shares to cover taxes is routine after exercises/vests and does not necessarily indicate selling for investment reasons.
• Performance awards are tied to company ROE and adjusted book value goals; RSUs have multi-year vesting, so the awarded shares will vest over time rather than being immediately liquid.