TODMAN MICHAEL 4
4 · PRUDENTIAL FINANCIAL INC · Filed Jun 15, 2026
Research Summary
AI-generated summary of this filing
Prudential (PRU) Director Michael Todman Receives 358 Deferred Units
What Happened
Michael Todman, a director of Prudential Financial, Inc. (PRU), received three grants of deferred/derivative awards on June 11, 2026: 170, 165 and 23 notional/restricted stock units at a reported per‑unit value of $106.51. The grants total 358 units with an aggregate value of approximately $38,131. These were awards (code A) under Prudential’s deferred compensation arrangements for non‑employee directors—not open‑market purchases or sales.
Key Details
- Transaction date: June 11, 2026; Filing accession: 0001137774-26-000138 (filed June 15, 2026).
- Grant breakdown and values: 170 units @ $106.51 = $18,107; 165 units @ $106.51 = $17,574; 23 units @ $106.51 = $2,450.
- Nature of awards: derivative notional shares / restricted stock units — entitle holder to one share of PRU common stock or cash value per unit under the non‑employee directors’ deferred compensation plan (see footnotes F1–F6).
- Vesting / payout: Some units are “mandatory” or “optional” deferred stock units (F1–F4) and restricted stock units that vest the earlier of the annual meeting or May 12, 2027 and were deferred until retirement (F5–F6). Payout timing depends on the reporting person’s election and plan rules (may be convertible to stock or cash).
- Shares owned after transaction: not disclosed in the provided filing excerpt.
- Filing timeliness: Filing date (June 15) follows the June 11 transaction and was submitted within the typical Form 4 reporting window (no late‑filing indication in the provided data).
Context
These grants are compensation-related deferred awards for a non‑employee director. They are derivative/notional units that represent future entitlement to shares or cash under the company’s plan, so they reflect routine director compensation rather than an immediate market purchase or sale. Such awards do not by themselves indicate a trading view by the insider.
Insider Transaction Report
- Award
Notional Shares - Mandatory
[F1][F2]2026-06-11$106.51/sh+170$18,107→ 13,179 totalExercise: $0.00→ Common Stock (170 underlying) - Award
Notional Shares - Optional
[F3][F4]2026-06-11$106.51/sh+165$17,574→ 12,792 totalExercise: $0.00→ Common Stock (165 underlying) - Award
2026 Restricted Stock Units
[F5][F6]2026-06-11$106.51/sh+23$2,450→ 1,777 totalExercise: $0.00→ Common Stock (23 underlying)
Footnotes (6)
- [F1]Each notional share - mandatory represents a deferred stock unit and entitles the holder thereof with the right to receive one share of Issuer common stock under the Issuer's deferred compensation plan for non-employee directors.
- [F2]Such shares are issuable, at the election of the reporting person, to begin on either (i) a date prior to the reporting person's retirement date, provided that such date is no earlier than the January 1 in the year following the plan period during which such fees would otherwise have been payable to the reporting person, (ii) within 90 days following the reporting person's retirement date, or (iii) such later date as selected by the reporting person, provided however, that payment must commence in the year the reporting person attains age 70 1/2.
- [F3]Each notional share - optional represents a deferred stock unit and entitles the holder thereof with the right to receive one share of Issuer common stock or the cash value thereof under the Issuer's deferred compensation plan for non-employee directors.
- [F4]Such shares are payable in common stock or cash, at the election of the reporting person, with payment to begin, at the election of the reporting person provided that such date shall be at least two (2) years after the end of the plan year with respect to which such elective deferrals relate. The reporting person may transfer her investment in the notional shares - optional to an alternative investment account, subject to the terms of the Issuer's deferred compensation plan for non-employee directors.
- [F5]Each restricted stock unit represents a contingent right to receive one share of PRU common stock or the economic equivalent thereof. The restricted stock units become payable, in PRU common stock or in cash, at the election of the reporting person, upon or following the reporting person's termination of service as a Director unless the reporting person elects an earlier date pursuant to the terms of the Prudential Financial, Inc. 2011 Deferred Compensation Plan for Non-Employee Directors.
- [F6]The restricted stock units vest the earlier of the annual meeting or in one year on May 12, 2027 and were deferred until retirement from the Board under the Prudential Financial, Inc. 2011 Deferred Compensation Plan for Non-Employee Directors.