Director at Everest Group (EG) takes retainer in 86 shares
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Everest Group, Ltd. director Howard John M reported an acquisition of 86 Common Shares as a compensation grant valued at $360.78 per share. The shares were issued under the 2003 Non-Employee Director Plan as payment of his quarterly retainer instead of cash, in a transaction completed under Rule 16b-3. Following this award, his direct holdings total 2,343 Common Shares.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
Howard John M
Role
null
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Shares | 86 | $360.78 | $31K |
Holdings After Transaction:
Common Shares — 2,343 shares (Direct, null)
Footnotes (1)
- [object Object]
Key Figures
Compensation shares granted: 86 Common Shares
Grant fair market value per share: $360.78 per share
Shares held after transaction: 2,343 Common Shares
+2 more
5 metrics
Compensation shares granted
86 Common Shares
Quarterly retainer paid in stock
Grant fair market value per share
$360.78 per share
Value used to convert cash retainer to shares
Shares held after transaction
2,343 Common Shares
Director’s direct holdings after grant
Transaction code
A (Grant, award, or other acquisition)
Non-derivative acquisition of Common Shares
Transaction direction
Acquire
Compensation-related stock award, not an open-market buy
Key Terms
Rule 16b-3, 2003 Non-Employee Director Plan, quarterly retainer, Common Shares
4 terms
Rule 16b-3 regulatory
"in a transaction completed under Rule 16b-3."
Rule 16b-3 is a Securities and Exchange Commission regulation that exempts certain routine, pre-approved transactions by company insiders from automatic liability for short-term trading profits. It acts like a safe harbor: if an insider follows a formal plan or the board approves specific transactions in advance, profits from buying and selling company stock within six months are not automatically reclaimed. Investors care because the rule clarifies when insider trades are permissible and reduces uncertainty about potential clawbacks.
2003 Non-Employee Director Plan financial
"Shares paid as compensation under the 2003 Non-Employee Director Plan to non-employee director"
quarterly retainer financial
"The reporting person elected to receive his quarterly retainer in the form of Common Shares"
FAQ
What insider transaction did Everest Group (EG) director Howard John M report?
Everest Group director Howard John M reported receiving 86 Common Shares as compensation. The shares were granted under the 2003 Non-Employee Director Plan, representing his quarterly retainer paid in stock instead of cash pursuant to Rule 16b-3.
Was the Everest Group (EG) director’s Form 4 transaction an open-market purchase?
The transaction was not an open-market purchase; it was a compensation grant. The director elected to receive his quarterly retainer in Common Shares under the 2003 Non-Employee Director Plan, in a transaction completed under Rule 16b-3 instead of buying shares on the market.
What is the 2003 Non-Employee Director Plan at Everest Group (EG)?
The 2003 Non-Employee Director Plan provides compensation to non-employee directors, including the option to take retainers in stock. In this case, the director chose to receive his quarterly retainer as Common Shares, rather than in cash, under this plan.
What does Rule 16b-3 mean for this Everest Group (EG) stock grant?
Rule 16b-3 provides an exemption for certain insider transactions that are board-approved compensation arrangements. The filing states this director’s stock grant was completed under Rule 16b-3, reflecting that it is a structured compensation award rather than a discretionary trading transaction.