PAPPAS BILL 4

What Happened
Bill Pappas, EVP, Global Technology & Operations at MetLife (MET), was the recipient of equity awards and had shares withheld to satisfy tax obligations. On Feb 24, 2026 he was granted 20,508 shares (restricted stock units under the 2025 plan) and 22,866 shares (from the 2023–2025 performance share payout). Also on Feb 24, 2026, 11,683 shares were disposed (withheld) at $75.34 per share to cover tax withholding, generating proceeds of $880,197. These were award-related transactions (acquisitions via grant and a tax-withholding disposition), not open-market purchases or opportunistic sales.

Key Details

• Transaction date(s): Feb 24, 2026 (grants and withholding disposition); Form 4 filed Feb 26, 2026 (timely).
• Grants: 20,508 RSUs (MetLife 2025 Stock & Incentive Compensation Plan) and 22,866 performance shares (2023–2025 payout).
• Disposition: 11,683 shares withheld/sold at $75.34 to satisfy tax withholding; proceeds reported $880,197.
• Shares owned after transaction: Not specified in the provided excerpt.
• Relevant footnotes:
  • F1: RSU award under the 2025 Stock and Incentive Compensation Plan.
  • F3: Shares from the performance-factor determination/payout for 2023–2025 performance award.
  • F4: Shares withheld to satisfy the reporting person’s tax withholding obligation on the performance share payout.
  • F2/F5: Notes about prior GRAT (Grantor Retained Annuity Trust) distributions/contributions affecting prior reported ownership.
• Filing timeliness: Filed Feb 26, 2026 for a Feb 24, 2026 transaction — appears timely under Form 4 rules.

Context
These transactions reflect compensation (RSU and performance-share awards) and routine tax-related withholding, not an open-market buy or a discretionary sale meant to signal opinion on the stock. The withholding of 11,683 shares functions like a cashless settlement to cover taxes on the award. For retail investors, award grants are common executive compensation and do not necessarily indicate bullish or bearish insider sentiment.