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Brighthouse Financial, Inc.·4

Mar 2, 6:27 PM ET

Spehar Edward A. 4

Research Summary

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Updated

Brighthouse (BHF) CFO Edward Spehar Receives Awards, Sells for Taxes

What Happened

  • Edward A. Spehar, CFO of Brighthouse Financial (BHF), received vested equity awards (PSUs and RSUs) and had shares withheld to cover taxes. Across transactions dated Feb 27 and Mar 2, 2026 he was credited with a total of 66,288 shares from awards/conversions (18,786; 13,658; 33,844). To satisfy tax withholding obligations he disposed of 15,373 shares in two withholding actions (8,877 shares on Feb 27 for $532,442 and 6,496 shares on Mar 2 for $389,630), totaling roughly $922,072. Several derivative conversions were recorded (exercise/conversion of derivatives), some of which were surrendered/settled at $0.00 as part of the vesting/net-settlement process.

Key Details

  • Transaction dates/prices:
    • 2026-02-27: Award/acquisition 18,786 shares (A) @ $0.00; tax withholding disposed 8,877 shares (F) @ $59.98 ($532,442).
    • 2026-03-02: Exercise/conversion net acquisition 13,658 shares (M); tax withholding disposed 6,496 shares (F) @ $59.98 ($389,630); additional derivative disposals of 3,976 / 5,444 / 4,238 shares at $0.00; award/acquisition 33,844 shares (A) @ $0.00.
  • Shares withheld for taxes: 15,373 shares (8,877 + 6,496) — cash value reported ≈ $922,072.
  • Shares acquired via vesting/conversion: 66,288 total (combining PSUs/RSUs conversions and grants).
  • Shares owned after the transactions: not specified in the provided excerpt of the Form 4 (see full filing for total beneficial ownership).
  • Notable footnotes:
    • F1–F2: PSUs earned for 2023-2025 performance; shares withheld for taxes.
    • F3–F9: RSU tranches (2023–2026 awards) vesting schedules; some tranches vested now, others vest in 2027–2029.
  • Filing timeliness: Form filed 2026-03-02 for transactions on 2026-02-27 and 2026-03-02 — filing appears timely.

Context

  • These entries reflect equity awards vesting (PSUs and RSUs) and related tax withholding, not an open-market purchase or sale motivated by trading strategy. Some derivative conversions/exercises were immediately settled/surrendered (zero-dollar dispositions), consistent with net settlement or withholding to cover taxes/obligations. Such administrative-withholding disposals are common when executive awards vest and do not necessarily indicate bullish or bearish sentiment.