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RGA (NYSE: RGA) CEO awarded 32,767 stock appreciation rights at $200.50 strike

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

REINSURANCE GROUP OF AMERICA INC reported that President and CEO Tony Kin Shun Cheng received a grant of stock appreciation rights linked to 32,767 shares of common stock. These derivative awards have an exercise price of $200.50 per share and expire on March 19, 2036.

The stock appreciation rights settle in common stock and vest in 33 1/3% increments, beginning on the first anniversary of the March 19, 2026 grant date, and fully vest on March 19, 2029. Following this grant, Cheng holds 32,767 stock appreciation rights directly.

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Insider CHENG TONY KIN SHUN
Role President and CEO
Type Security Shares Price Value
Grant/Award Stock Appreciation Right (right to purchase) 2026 32,767 $0.00 --
Holdings After Transaction: Stock Appreciation Right (right to purchase) 2026 — 32,767 shares (Direct, null)
Footnotes (1)
  1. [object Object]
Stock appreciation rights granted 32,767 rights Grant to CEO on March 19, 2026
Exercise price $200.50 per share Strike price for stock appreciation rights
Underlying common shares 32,767 shares Shares tied to the stock appreciation rights
Expiration date March 19, 2036 Rights lapse after this date
Full vesting date March 19, 2029 All rights fully vested by this date
Stock Appreciation Right financial
"Stock appreciation rights settle in common stock, vest in 33 1/3% increments"
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.
exercise price financial
"conversion_or_exercise_price: 200.5000"
The exercise price is the fixed amount at which you can buy or sell an asset, like a stock, when using an options contract. It matters because it helps determine whether exercising the option will be profitable or not, depending on the current market price. Think of it as the set price you agree on today to buy or sell later.
vest financial
"vest in 33 1/3% increments, beginning on the first anniversary date"
A vest is the process by which an employee earns the right to receive certain benefits or ownership interests, such as stock or retirement funds, over time. It’s similar to earning a reward gradually, ensuring that the benefit becomes fully yours only after a set period or meeting specific conditions. This makes it important for investors because it determines when they can actually claim or use those benefits.
expiration date financial
"expiration_date: 2036-03-19T00:00:00.000Z"
The expiration date is the deadline after which a financial contract, such as an option or a futures agreement, is no longer valid or can be exercised. It matters to investors because it determines the timeframe during which they can take action or benefit from the contract, similar to how a coupon or a food item has a limited period of usefulness. Once the expiration date passes, the contract loses its value or ability to be used.
Common Stock financial
"underlying_security_title: "Common Stock""
Common stock represents ownership shares in a company, giving investors a stake in its success and a say in important decisions through voting rights. It is the most common type of stock traded on markets and can provide income through dividends, as well as potential for value growth. For investors, holding common stock means sharing in the company’s profits and risks.
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Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED 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)
XDirector10% Owner
XOfficer (give title below)Other (specify below)
President and CEO
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
03/19/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm 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)
CodeVAmount(A) or (D)Price
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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Stock Appreciation Right (right to purchase) 2026$200.5(1)03/19/2026A32,767 (1)03/19/2036Common Stock32,767$032,767D
Explanation of Responses:
1. Stock appreciation rights settle in common stock, vest in 33 1/3% increments, beginning on the first anniversary date of the grant, and fully vest on March 19, 2029.
Remarks:
This Form 4 is being filed late due to inadvertent administrative error.
/s/ My Chi To, by Power of Attorney04/27/2026
** Signature of Reporting PersonDate
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)

Source: View Original Filing on SEC EDGAR

FAQ

What did RGA (RGA) CEO Tony Kin Shun Cheng receive in this Form 4 filing?

Tony Kin Shun Cheng received a grant of stock appreciation rights tied to 32,767 shares of RGA common stock. These awards are part of his compensation and give him value based on future stock price increases above the exercise price.

How many stock appreciation rights were granted to the RGA CEO and at what price?

The RGA CEO was granted 32,767 stock appreciation rights with an exercise price of $200.50 per share. Each right represents potential value if RGA’s stock trades above this price when exercised, settling in shares of common stock.

When do Tony Kin Shun Cheng’s RGA stock appreciation rights vest?

The stock appreciation rights vest in 33 1/3% increments starting on the first anniversary of the March 19, 2026 grant date. They fully vest on March 19, 2029, aligning the CEO’s compensation with multi-year company performance.

When do the RGA CEO’s stock appreciation rights granted in this Form 4 expire?

The stock appreciation rights granted to the RGA CEO expire on March 19, 2036. After that date, any unexercised rights lapse and cannot be used, which sets a long-term window for potential value realization tied to RGA’s share price.

Do the RGA stock appreciation rights in this filing settle in cash or stock?

The filing states that the stock appreciation rights settle in RGA common stock. This means any gain above the exercise price, if realized, is delivered in shares rather than cash, directly linking the award’s value to the company’s equity.

How many stock appreciation rights does the RGA CEO hold after this transaction?

After this transaction, the RGA CEO holds 32,767 stock appreciation rights directly. This total reflects the newly granted award reported in the filing and represents a long-term incentive position tied to RGA’s future share performance.