Reinsurance Group of America (NYSE: RGA) director gets 817 phantom units
Rhea-AI Filing Summary
Reinsurance Group of America director Michele Bang received a grant of 817 phantom stock units as board compensation. These units were acquired through deferral of her annual stock grant and convert 1-for-1 into common shares based on fair market value. Payment will be made in accordance with her distribution elections, either after a five- or seven-year deferral period or upon retirement from the board. This is a non-cash, compensation-related award rather than an open-market stock purchase or sale.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
BANG MICHELE MI KYUNG
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Phantom Stock | 817 | $0.00 | $0.00 |
Holdings After Transaction:
Phantom Stock — 817 shares (Direct)
Footnotes (4)
- F1. The phantom stock units convert 1 for 1 to common stock, based on fair market value.
- F2. Acquired pursuant to deferral of annual stock grant (817 shares) to independent directors for services performed as a director.
- F3. Director can elect to receive payment (1) upon retirement or (2) after a five or seven year deferral period.
- F4. Distributable upon director's retirement from the Board in accordance with distribution elections.
Key Figures
Phantom units granted: 817 units
Conversion ratio: 1-for-1 to common stock
Total phantom units after grant: 817 units
+1 more
4 metrics
Phantom units granted
817 units
Director phantom stock award on 2026-05-20
Conversion ratio
1-for-1 to common stock
Phantom stock converts to common shares at fair market value
Total phantom units after grant
817 units
Total derivative holdings following this transaction
Exercise/Conversion price
$0.00 per unit
Compensation grant, no cash exercise price
Key Terms
Phantom Stock, deferral of annual stock grant, distribution elections, phantom stock units
4 terms
Phantom Stock financial
"The phantom stock units convert 1 for 1 to common stock, based on fair market value."
A phantom stock is a form of compensation that gives employees or executives the benefits of stock ownership, such as the increase in stock value, without actually giving them real shares. It acts like a promise to pay the employee the equivalent value of company stock later, often as a bonus or incentive. This allows companies to motivate and reward staff without diluting ownership or transferring actual shares.
deferral of annual stock grant financial
"Acquired pursuant to deferral of annual stock grant (817 shares) to independent directors for services performed as a director."
distribution elections financial
"Distributable upon director's retirement from the Board in accordance with distribution elections."
phantom stock units financial
"The phantom stock units convert 1 for 1 to common stock, based on fair market value."
Phantom stock units are company promises that pay a cash or stock-equivalent award tied to the firm’s share price or value growth, but they do not issue actual shares. Think of them as a bonus check that moves with the stock like a mirror rather than handing over an ownership slice. Investors care because these awards can affect a company’s future cash obligations, executive incentives and reported expenses without causing share dilution.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What did Michele Bang report in this Form 4 for RGA?
Michele Bang reported receiving 817 phantom stock units as director compensation. These units were granted through deferral of her annual stock grant and track Reinsurance Group of America common stock on a 1-for-1 basis.
How many phantom stock units were granted to the RGA director?
The director received 817 phantom stock units. The grant represents a deferred form of the annual stock award to independent directors, rather than an open-market purchase or sale of Reinsurance Group of America shares.
How do the RGA phantom stock units convert into common stock?
The phantom stock units convert into common stock on a 1-for-1 basis, using the fair market value. This means each of the 817 units is economically equivalent to one share of Reinsurance Group of America common stock at distribution.
When will Michele Bang receive payment for the phantom stock units at RGA?
The director can elect payment either upon retirement from the board or after a five- or seven-year deferral period. Distribution timing follows her prior elections and will be based on the units’ fair market value.