Reinsurance Group of America CEO exercises 3,280 rights

Available on EDGAR 11/13/2026 - 04:08 PM EST Accepted by SEC EDGAR 11/13/2026 - 04:07 PM EST Learn about SEC filing dates

Rhea-AI Filing Summary

Reinsurance Group of America, Inc. (RGA) director and President and CEO Tony Kin Shun Cheng exercised 3,280 stock appreciation rights on November 10, 2026, at an exercise price of $129.72 per share. The exercise resulted in 3,280 common shares, of which 1,553 were withheld to cover the exercise price, leaving a net settlement of 1,727 common shares. No shares were withheld for taxes.

Insider Trade Summary

3,280 shares exercised/converted

Exercise 3 txns

Insider CHENG TONY KIN SHUN

Role President and CEO

Type	Security	Shares	Price	Value
Exercise	Stock Appreciation Right (right to purchase) 2017 F2	3,280	$0.00	$0.00
Exercise	Common stock	3,280	$129.72	$425K
Exercise Price or Tax Liability	Common stock F1	1,553	$274.06	$426K

Holdings After Transaction: Stock Appreciation Right (right to purchase) 2017 — 0 rights (Direct); Common stock — 45,135 shares (Direct)

Holdings Before and After: Stock Appreciation Right (right to purchase) 2017, 3,280 to 0 rights (Direct); Common stock, 43,408 to 45,135 shares (Direct)

Footnotes (2)

1. F1. Represents 1,553 shares withheld to cover the exercise price of the stock appreciation rights, resulting in a net settlement of 1,727 shares of Common Stock. No shares were withheld for taxes.
2. F2. Stock appreciation rights settle in Common Stock, vest in 25% increments over four years, starting on December 31 of the year of the grant. The stock appreciation rights were granted on March 3, 2017.

Key Figures

Stock appreciation rights exercised: 3,280 rights Exercise price: $129.72 per share Shares withheld: 1,553 shares +1 more

4 metrics

Stock appreciation rights exercised 3,280 rights November 10, 2026

Exercise price $129.72 per share Stock appreciation rights exercised November 10, 2026

Shares withheld 1,553 shares Withheld to cover the exercise price

Net settlement 1,727 common shares After withholding shares to cover the exercise price

Key Terms

Stock Appreciation Right, net settlement

2 terms

Stock Appreciation Right financial

"Stock Appreciation Right (right to purchase) 2017"

A stock appreciation right (SAR) is a form of employee pay that gives the holder the right to receive the increase in a company's share price over a set reference price, paid in cash or shares, without having to buy stock first. It matters to investors because SARs can create future cash outflows or dilute existing shareholders if settled in stock, and they align employee incentives with share-price performance like a bonus tied to a home's price rise.

net settlement financial

"resulting in a net settlement of 1,727 shares of Common Stock"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many RGA shares did Tony Kin Shun Cheng receive from exercising his stock appreciation rights?

Tony Kin Shun Cheng received a net settlement of 1,727 common shares on November 10, 2026. He exercised 3,280 stock appreciation rights, and 1,553 shares were withheld to cover the exercise price; no shares were withheld for taxes.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Form 4 Insider Transactions: What Each Field Means →

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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
Estimated average burden
hours per response:			0.5

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

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

CHENG TONY KIN SHUN

(Last) (First) (Middle)

16600 SWINGLEY RIDGE RD.

(Street)

CHESTERFIELD MISSOURI 63017

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
REINSURANCE GROUP OF AMERICA INC [ RGA ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
11/10/2026

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

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

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

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	11/10/2026		M		3,280	A	$129.72	46,688	D
Common stock	11/10/2026		F		1,553(1)	D	$274.06	45,135	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
Stock Appreciation Right (right to purchase) 2017	$129.72	11/10/2026		M			3,280	(2)	03/03/2027	Common stock	3,280	$0	0	D

Explanation of Responses:

1. Represents 1,553 shares withheld to cover the exercise price of the stock appreciation rights, resulting in a net settlement of 1,727 shares of Common Stock. No shares were withheld for taxes.

2. Stock appreciation rights settle in Common Stock, vest in 25% increments over four years, starting on December 31 of the year of the grant. The stock appreciation rights were granted on March 3, 2017.

Remarks:

	/s/ My Chi To, by Power of Attorney	11/13/2026
	** 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.
* Form 4: SEC 1474 (03-26)