Albo Giuseppina 4

What Happened

• Giuseppina Albo, a director of Reinsurance Group of America, Inc. (RGA), was granted 1,469 phantom stock units on 2026-05-20. The filing reports an acquisition price of $0.00 because these are derivative phantom units rather than an open‑market purchase. The units convert 1-for-1 into common shares based on fair market value.

Key Details

• Transaction date: 2026-05-20; Filing date: 2026-05-22 (filed for the May 20 transaction).
• Amount: 1,469 phantom stock units (652 units from deferral of annual retainer + 817 units from deferral of annual stock grant).
• Reported price/value: $0.00 on Form 4 (derivative award; conversion value tied to FMV).
• Shares owned after transaction: not disclosed in the filing.
• Notable footnotes: units convert 1-for-1 to common stock based on fair market value (F1); awarded pursuant to director deferral elections (F2); distribution timing per director election — upon retirement or after 5- or 7-year deferral (F3); distributable upon retirement per distribution elections (F4).

Context

• These phantom stock units are a form of deferred compensation for independent directors and are commonly used to align director pay with shareholder value; they are not an immediate cash purchase or sale. Because conversion is based on future fair market value and payouts are subject to deferral/retirement rules, the grant itself should be viewed as routine director compensation rather than a direct market signal.