[Form 4] Jackson Financial Inc. Insider Trading Activity

Rhea-AI Filing Summary

Stecher Esta E, a director of Jackson Financial Inc. (JXN), reported an acquisition on 09/25/2025 of 364.94 shares of the issuer's common stock at a reported price of $0.00. The filing states these shares represent additional restricted share units received as dividend equivalent units (DEUs) on existing restricted share units and unvested restricted stock, and that the DEUs are subject to the same terms as the underlying awards. After the reported transaction the filing shows beneficial ownership of 46,971.72 shares. The Form 4 was signed by an attorney-in-fact.

Positive

• Director reported additional equity via 364.94 DEU shares, increasing disclosed beneficial ownership to 46,971.72 shares
• Disclosure specifies DEUs are subject to the same terms as underlying restricted awards, clarifying the nature of the issuance

Negative

• None.

Insights

Securities Analyst

TL;DR Director received dividend-equivalent restricted units, modestly increasing beneficial holdings without cash purchase.

The reported 09/25/2025 transaction is an accrual of 364.94 shares as dividend equivalent units on preexisting equity awards, recorded at a $0.00 price, indicating these were non-cash compensatory adjustments rather than open-market purchases or option exercises. The filing shows total beneficial ownership of 46,971.72 shares following the accrual. This is a routine insider equity compensation event disclosed under Section 16.

Corporate Governance Expert

TL;DR Routine issuance of DEUs to a director consistent with equity award terms; documentation via Form 4 is proper disclosure.

The Form 4 discloses the nature of the additional restricted share units as dividend equivalent units tied to existing restricted awards, and notes the DEUs carry the same terms as the underlying grants. The submission was executed by an attorney-in-fact and includes an explanatory remark. This disclosure aligns with typical governance practices for accruals on unvested equity.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

STECHER ESTA E

(Last) (First) (Middle)

1 CORPORATE WAY

(Street)

LANSING MI 48951

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Jackson Financial Inc. [ JXN ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
09/25/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock(1)	09/25/2025		A		364.94	A	$0.00	46,971.72	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. These shares reflect additional restricted share units received as dividend equivalent units ("DEUs") on restricted share units and unvested restricted stock. The DEUs are subject to the same terms and conditions as the underlying equity awards on which they accrue.

Remarks:

Power of Attorney on file.

	/s/ Kristan L. Richardson, as Attorney-in-Fact	09/29/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did Jackson Financial (JXN) director Stecher Esta E report on Form 4?

The director reported acquiring 364.94 shares on 09/25/2025 as dividend equivalent units on restricted share units and unvested restricted stock.

Were the reported shares purchased on the open market?

No. The filing shows a reported price of $0.00, indicating these were non-cash dividend equivalent units rather than an open-market purchase.

How many shares does the reporting person beneficially own after the transaction?

The Form 4 reports beneficial ownership of 46,971.72 shares following the reported transaction.

What is the nature of the dividend equivalent units (DEUs) reported?

The DEUs are described as additional restricted share units received as dividend equivalents and are subject to the same terms and conditions as the underlying equity awards.

Who signed the Form 4 filing for the reporting person?

The Form 4 was signed by /s/ Kristan L. Richardson, as Attorney-in-Fact on 09/29/2025.