Andre Axel 4

What Happened
Andre Axel, Chief Financial Officer of Reinsurance Group of America (RGA), received two derivative awards on March 19, 2026: 2,993 units and 8,642 units (total 11,635). Both were reported as grants/awards (code A) at $0.00 per share (derivative awards), meaning they are compensation awards rather than open-market purchases.

Key Details

• Transaction date: 2026-03-19 (reported on Form 4 filed 2026-04-27).
• Award amounts: 2,993 and 8,642 units (total 11,635). Price recorded: $0.00 (award).
• Shares owned after transaction: Not specified in the filing.
• Footnote: The awards are stock appreciation rights (SARs) and restricted stock units (RSUs) that settle in common stock and vest in 33 1/3% increments beginning on the first anniversary of the grant; fully vest on March 19, 2029.
• Timeliness: The Form 4 was filed late; the filing states this was due to an inadvertent administrative error (timeliness flag: L).

Context
These are derivative compensation awards (RSUs and SARs) that will convert into shares as they vest over the next three years; they are not immediate open-market purchases or sales. Awards like these are common executive compensation and do not by themselves signal a buy/sell decision by the insider. The late filing is noted in the document but the transaction details are now disclosed.