[Form 4] Jackson Financial Inc. Insider Trading Activity

Rhea-AI Filing Summary

Steven A. Kandarian, a director of Jackson Financial Inc. (JXN), reported receipt of additional shares on 09/25/2025. The Form 4 shows 836.32 common shares were acquired at a reported price of $0.00, reflecting dividend equivalent units (DEUs) credited on restricted share units and unvested restricted stock, which remain subject to the underlying awards' terms. After this transaction Kandarian beneficially owned 107,641.9 shares.

The filing was executed under power of attorney and signed on 09/29/2025. No cash purchase or option exercise is reported; the change represents non-cash accruals tied to existing equity awards.

Positive

• Increase in reported beneficial ownership: total holdings rose to 107,641.9 shares after receiving DEUs.
• Clear disclosure of non-cash issuance: transaction recorded as acquisition (code A) at $0.00, described as dividend equivalent units tied to existing awards.

Negative

• None.

Insights

Corporate Governance Expert

TL;DR: Director received non-cash dividend-equivalent accruals, modestly increasing reported beneficial ownership.

The Form 4 documents an in-kind issuance of 836.32 shares as DEUs on outstanding restricted awards, increasing the director's reported stake to 107,641.9 shares. This is a routine equity-compensation administrative event rather than a market purchase or sale. The use of a power of attorney for filing is standard practice. The disclosure appears complete for the event reported; there are no indications of policy or governance issues in the filing itself.

Securities Analyst

TL;DR: Non-cash accruals added to insider holdings; transaction is administratively material but not market-moving.

The transaction code indicates an acquisition via issuance (A) at zero cash cost, consistent with dividend equivalents on equity awards. The increment of 836.32 shares represents a small change relative to the total holdings reported. From a disclosure standpoint, the filing records necessary details: transaction date, amount, resulting beneficial ownership, and signature under power of attorney. This is a routine insider-compensation adjustment with limited immediate impact on equity float or valuation.

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

OMB APPROVAL

OMB Number:			3235-0287
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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^*

KANDARIAN STEVEN A

(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		836.32	A	$0.00	107,641.9	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 Steven A. Kandarian report on the Form 4 for JXN?

The Form 4 reports receipt of 836.32 common shares on 09/25/2025, increasing his beneficial ownership to 107,641.9 shares.

Were the shares purchased with cash in the reported transaction?

No. The filing shows the acquisition price as $0.00, indicating the shares were received as dividend equivalent units on existing awards.

What are dividend equivalent units (DEUs) as described in the filing?

The filing states DEUs were credited on restricted share units and unvested restricted stock and are subject to the same terms and conditions as the underlying awards.

When was the Form 4 signed and by whom?

The Form 4 was signed under power of attorney by Kristan L. Richardson on 09/29/2025.

Does the filing indicate any sale or disposition of JXN shares by the reporting person?

No. The Form 4 records an acquisition (code A); there is no disposition reported in this filing.