RGA (NYSE: RGA) EVP Cormac Galvin details initial stock and equity awards
Rhea-AI Filing Summary
Reinsurance Group of America executive reports initial equity holdings. EVP, Head of EMEA Cormac Galvin filed a Form 3 showing beneficial ownership of 2,467 shares of common stock held directly. In addition, he holds multiple equity-based awards, including restricted share units and stock appreciation rights granted from 2018 through 2025.
The filing lists restricted share units tied to common stock in amounts of 303 shares for a March 2025 award, 190 shares for a March 2024 award, and 321 shares for a March 2023 award. Each restricted share unit represents a contingent right to receive one share of common stock upon settlement. These units and related stock appreciation rights generally vest in 33⅓% annual increments over three years, with full vesting on December 31, 2027 or December 31, 2026, and one grant fully vesting on December 31, 2025. Stock appreciation rights from 2018–2025 settle in common stock and vest in four annual installments of 25% after the grant date.
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Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Restricted Share Unit - March 2025 | -- | -- | -- |
| holding | Stock Appreciation Right (right to purchase) 2025 | -- | -- | -- |
| holding | Restricted Share Unit - March 2024 | -- | -- | -- |
| holding | Stock Appreciation Right (right to purchase) 2024 | -- | -- | -- |
| holding | Restricted Share Unit - March 2023 | -- | -- | -- |
| holding | Stock Appreciation Right (right to purchase) 2023 | -- | -- | -- |
| holding | Stock Appreciation Right (right to purchase) 2022 | -- | -- | -- |
| holding | Stock Appreciation Right (right to purchase) 2021 | -- | -- | -- |
| holding | Stock Appreciation Right (right to purchase) 2020 | -- | -- | -- |
| holding | Stock Appreciation Right (right to purchase) 2019 | -- | -- | -- |
| holding | Stock Appreciation Right (right to purchase) 2018 | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Footnotes (5)
- F1. Restricted share units and stock appreciation rights settle in Common Stock, vest in 33 and 1/3% increments over three years, and fully vest on December 31, 2027.
- F2. Each restricted share unit represents a contingent right to receive one (1) share of the Issuer's Common Stock upon settlement.
- F3. Restricted share units and stock appreciation rights settle in Common Stock, vest in 33 and 1/3% increments over three years, and fully vest on December 31, 2026.
- F4. Restricted share units fully vest on December 31, 2025.
- F5. Stock Appreciation Rights settle in Common Stock and vest in four equal annual installments of 25%, on December 31, after grant date.
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FAQ
What does RGA's Form 3 filed by Cormac Galvin show?
The Form 3 shows that Cormac Galvin, EVP and Head of EMEA at Reinsurance Group of America (RGA), has reported his initial beneficial ownership in the company’s securities, including common stock and various equity incentive awards.
What stock appreciation rights in RGA stock are reported for Cormac Galvin?
The filing lists multiple stock appreciation rights settling in RGA common stock, including grants from 2018 through 2025 with exercise prices such as $193, $185.28, $138.34, $106.53, $129.01, $117.85, and $145.25, each tied to specified numbers of underlying shares.
How do Cormac Galvin’s RGA stock appreciation rights vest?
According to the filing, stock appreciation rights settle in common stock and vest in four equal annual installments of 25% on December 31 of each year following the grant date.
Is Cormac Galvin a director or 10% owner of RGA according to the Form 3?
No. The Form 3 identifies him as an officer of RGA with the title EVP, Head of EMEA, and not as a director or 10% owner.