TODMAN MICHAEL 4

What Happened
Michael Todman, a member of Prudential Financial's Board of Directors, received an award of deferred stock units (derivative securities) on March 12, 2026. The filing shows three awards: 194 units at $92.34 each ($17,914), 162 units at $92.34 each ($14,959), and 26 units at $92.34 each ($2,401), totaling 382 units valued at approximately $35,274. This was an award/grant (code A) under the company’s non-employee director deferred compensation arrangements — not an open-market purchase or sale.

Key Details

• Transaction date: 2026-03-12; Form 4 filed: 2026-03-16 (appears timely under the 2-business-day rule).
• Grants: 194 units @ $92.34 ($17,914); 162 units @ $92.34 ($14,959); 26 units @ $92.34 ($2,401). Total = 382 units, ~$35,274.
• Shares owned after transaction: Not specified in the provided filing excerpt.
• Transaction type: A = Award/Grant of derivative securities (deferred stock units / restricted stock units).
• Notable footnotes: Awards are described as "notional shares" (deferred stock units) or restricted stock units under the Prudential Deferred Compensation Plan for non-employee directors. They generally convert to one share of PRU common stock (or cash at election) and have payout/vesting rules tied to retirement, elected payment dates, or specified vesting dates.

Context

• These are deferred compensation awards, meaning Todman did not buy shares on the open market; instead he received rights to future delivery of shares (or cash equivalent) per plan terms.
• Payout timing and form (stock vs. cash) are subject to the plan and the reporting person’s elections (may be payable at retirement, after a deferral period, or at elected dates).
• Such director awards are routine compensation and do not, by themselves, indicate insider buying or selling sentiment in the market.