Prudential Financial (NYSE: PRU) EVP Waldeck details stock and equity awards
Filing Impact
Filing Sentiment
Form Type
3
Rhea-AI Filing Summary
Prudential Financial Inc. Executive Vice President George P. Waldeck Jr. filed an initial statement of beneficial ownership of company securities. He reports owning 58,912 shares of common stock directly and 350 shares indirectly through a 401(k) plan.
He also reports several equity-based awards that can convert into common stock. These include 2023, 2024, and 2025 performance shares totaling 12,371, 13,470, and 13,271 target shares, respectively, which convert to common stock on a 1-to-1 basis and depend on return-on-equity and adjusted book value per share performance over multi-year periods. In addition, he holds restricted stock units from 2023, 2024, and 2025 grants that vest in equal thirds annually starting on the last day of February 2024, February 2025, October 2024, and February 2026, and convert to common stock on a 1-to-1 basis.
Positive
- None.
Negative
- None.
Insider Trade Summary
9 transactions reported
Mixed
9 txns
Insider
Waldeck George P Jr.
Role
Executive Vice President
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | 2023 Performance Shares | -- | -- | -- |
| holding | 2023 Restricted Stock Units | -- | -- | -- |
| holding | 10/10/2023 Restricted Stock Units | -- | -- | -- |
| holding | 2024 Performance Shares | -- | -- | -- |
| holding | 2024 Restricted Stock Units | -- | -- | -- |
| holding | 2025 Performance Shares | -- | -- | -- |
| holding | 2025 Restricted Stock Units | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
2023 Performance Shares — 12,371 shares (Direct);
2023 Restricted Stock Units — 1,768 shares (Direct);
10/10/2023 Restricted Stock Units — 1,774 shares (Direct);
2024 Performance Shares — 13,470 shares (Direct);
2024 Restricted Stock Units — 3,849 shares (Direct);
2025 Performance Shares — 13,271 shares (Direct);
2025 Restricted Stock Units — 5,688 shares (Direct);
Common Stock — 58,912 shares (Direct);
Common Stock — 350 shares (Indirect, By 401(k))
Footnotes (1)
- Represents the target number of shares to be received. The actual number of shares to be received will be determined by the Compensation Committee in February 2026 based on the Company's ROE performance relative to a performance peer group of companies and performance relative to a pre-determined goal for growth in adjusted book value per share for the 2023 through 2025 performance period. The performance shares convert to common stock on a 1 to 1 basis. The Restricted Stock Units will vest 1/3 per year beginning the last day of February 2024. The Restricted Stock Units convert to common stock on a 1 to 1 basis. he Restricted Stock Units will vest 1/3 per year beginning the last day of October 2024. Represents the target number of shares to be received. The actual number of shares to be received will be determined by the Compensation and Human Capital Committee in February 2027 based on the Company's ROE performance relative to a performance peer group of companies and performance relative to a pre-determined goal for growth in adjusted book value per share for the 2024 through 2026 performance period. The Restricted Stock Units will vest 1/3 per year beginning the last day of February 2025. Represents the target number of shares to be received. The actual number of shares to be received will be determined by the Compensation and Human Capital Committee in February 2028 based on the Company's ROE performance relative to a performance peer group of companies and performance relative to a pre-determined goal for growth in adjusted book value per share for the 2025 through 2027 performance period. The Restricted Stock Units will vest 1/3 per year beginning the last day of February 2026.
FAQ
What does Prudential Financial (PRU) Form 3 for George P. Waldeck Jr. disclose?
The Form 3 shows Executive Vice President George P. Waldeck Jr. initially reporting 58,912 shares of Prudential Financial common stock held directly and 350 shares held indirectly via a 401(k) plan, plus multiple performance share and restricted stock unit awards convertible into common stock.
What restricted stock units does George P. Waldeck Jr. report in this Prudential filing?
He reports several restricted stock unit grants, including 2023, 10/10/2023, 2024, and 2025 awards. These RSUs generally vest in equal one-third installments beginning on the last day of February 2024, October 2024, February 2025, and February 2026, and convert to common stock 1-for-1.
When do the Prudential Financial restricted stock units begin vesting for George P. Waldeck Jr.?
The RSUs begin vesting 1/3 per year on specific dates: the last day of February 2024, October 2024, February 2025, and February 2026. Each vested unit converts into one share of Prudential Financial common stock according to the terms described in the filing.