Director receives 96 Everest Group (EG) shares as quarterly retainer
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
HARTZBAND MERYL D reported acquisition or exercise transactions in this Form 4 filing.
EVEREST GROUP, LTD. director Meryl D. Hartzband received a grant of 96 Common Shares on April 1 as compensation under the 2003 Non-Employee Director Plan. The shares were issued in lieu of her quarterly cash retainer at a fair market value of $325.28 per share, bringing her direct holdings to 12,503 Common Shares.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
HARTZBAND MERYL D
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Shares | 96 | $325.28 | $31K |
Holdings After Transaction:
Common Shares — 12,503 shares (Direct)
Footnotes (1)
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Key Figures
Shares granted: 96 Common Shares
Grant value per share: $325.28 per share
Shares owned after grant: 12,503 Common Shares
3 metrics
Shares granted
96 Common Shares
Stock compensation for quarterly director retainer on April 1
Grant value per share
$325.28 per share
Fair market value used to convert cash retainer into shares
Shares owned after grant
12,503 Common Shares
Director’s direct holdings following the compensation award
Key Terms
2003 Non-Employee Director Plan, quarterly retainer, Rule 16b-3
3 terms
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 her quarterly retainer in the form of Common Shares"
Rule 16b-3 regulatory
"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.
FAQ
What insider transaction did EVEREST GROUP, LTD. (EG) report for Meryl D. Hartzband?
EVEREST GROUP, LTD. reported that director Meryl D. Hartzband received 96 Common Shares as compensation. The shares were granted instead of a cash quarterly retainer under the 2003 Non-Employee Director Plan at fair market value.
What is the purpose of the 2003 Non-Employee Director Plan at Everest Group (EG)?
The 2003 Non-Employee Director Plan allows Everest Group to pay non-employee directors in stock rather than cash. In this case, Hartzband elected to receive her quarterly retainer in Common Shares with fair market value equal to the cash amount otherwise payable.