Globe Life EVP exercises options, sells shares
GLOBE LIFE INC. executive vice president and chief strategy officer Michael Clay Majors reported an exercise-and-sell transaction in company stock.
Rhea-AI Filing Summary
GLOBE LIFE INC. executive vice president and chief strategy officer Michael Clay Majors reported an exercise-and-sell transaction in company stock. He exercised 34,000 employee stock options at an exercise price of $98.32 per share, converting them into common shares.
On the same date, he completed open-market sales totaling 34,000 common shares in multiple trades. Reported sale prices include specific executions such as $154.4305 per share, with footnotes noting price ranges from $152.325 to $155.05 per share across the different sale tranches.
Positive
- None.
Negative
- None.
Insider Trade Summary
Exercise and Sale: 34,000 shares ($1.89M approx. pre-tax spread)
Exercise and Sale
6 txns
Insider
MAJORS MICHAEL CLAY
Role
EVP - Chief Strategy Officer
Sold
34,000 shs ($5.23M)
Approx. gross sale proceeds
$5.23M
Approx. exercise cost
$3.34M
Approx. pre-tax spread
$1.89M
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Employee Stock Option (Right to Buy) | 34,000 | $0.00 | $0.00 |
| Exercise | Common Stock | 34,000 | $98.32 | $3.34M |
| Sale | Common Stock | 5,165 | $152.8435 | $789K |
| Sale | Common Stock | 17,251 | $153.6878 | $2.65M |
| Sale | Common Stock | 11,584 | $154.4305 | $1.79M |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Employee Stock Option (Right to Buy) — 0 contracts (Direct);
Common Stock — 53,518.447 shares (Direct);
Common Stock — 0 shares (Indirect, N/A)
Footnotes (4)
- F1. Reporting person will provide full information regarding the number of shares sold at each separate price upon request by the SEC staff, the issuer or any security holder of the issuer.
- F2. Sales at prices ranging from $152.325 per share to $153.19 per share.
- F3. Sales at prices ranging from $153.20 per share to $154.19 per share.
- F4. Sales at prices ranging from $154.20 per share to $155.05 per share.
Key Figures
Options exercised: 34,000 shares
Exercise price: $98.32 per share
Shares sold: 34,000 shares
+3 more
6 metrics
Options exercised
34,000 shares
Employee stock options converted to common stock
Exercise price
$98.32 per share
Employee stock option exercise price
Shares sold
34,000 shares
Total common shares sold in open-market trades
Reported sale price
$154.4305 per share
One tranche of Globe Life common stock sales
Sale price range (low)
$152.325 per share
Lowest price range noted in sale footnotes
Sale price range (high)
$155.05 per share
Highest price range noted in sale footnotes
Key Terms
Employee Stock Option (Right to Buy), open-market sale, derivative exercise/conversion, non-derivative, +1 more
5 terms
Employee Stock Option (Right to Buy) financial
"security_title: "Employee Stock Option (Right to Buy)""
open-market sale financial
"transaction_action: "open-market sale""
An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.
derivative exercise/conversion financial
"transaction_action: "derivative exercise/conversion""
non-derivative financial
"transaction_type: "non-derivative""
derivative financial
"transaction_type: "derivative""
A derivative is a financial contract whose value depends on the price or performance of another asset or measure — for example a stock, index, interest rate, commodity, or currency. Investors use derivatives like insurance or leveraged bets to hedge risk, speculate, or gain exposure without owning the underlying asset; they can protect portfolios but also amplify losses and introduce counterparty and market risk.
FAQ
What insider transaction did Globe Life (GL) executive Michael Clay Majors report?
Michael Clay Majors reported an exercise-and-sell transaction involving Globe Life common stock. He exercised 34,000 employee stock options at $98.32 per share and sold 34,000 common shares in open-market trades at various prices on the same date.
At what price did Michael Clay Majors exercise his Globe Life (GL) stock options?
He exercised 34,000 employee stock options with an exercise price of $98.32 per share. This option exercise converted the derivative securities into common stock before the reported open-market sales of an equivalent number of shares on the same transaction date.
Does the Globe Life (GL) Form 4 show any remaining employee stock options after the exercise?
The Form 4 shows a derivative transaction for 34,000 employee stock options labeled as an exercise, with 34,000 underlying common shares. The derivative summary is empty following this transaction, indicating no remaining options of this specific grant in the reported data.
AI-generated analysis. How Rhea-AI works. Not financial advice.
