TODMAN MICHAEL 4
4 · PRUDENTIAL FINANCIAL INC · Filed Mar 16, 2026
Research Summary
AI-generated summary of this filing
Prudential (PRU) Director Michael Todman Receives 382-Unit Award
What Happened
Michael Todman, a member of Prudential Financial's Board of Directors, received an award of deferred stock units (derivative securities) on March 12, 2026. The filing shows three awards: 194 units at $92.34 each ($17,914), 162 units at $92.34 each ($14,959), and 26 units at $92.34 each ($2,401), totaling 382 units valued at approximately $35,274. This was an award/grant (code A) under the company’s non-employee director deferred compensation arrangements — not an open-market purchase or sale.
Key Details
- Transaction date: 2026-03-12; Form 4 filed: 2026-03-16 (appears timely under the 2-business-day rule).
- Grants: 194 units @ $92.34 ($17,914); 162 units @ $92.34 ($14,959); 26 units @ $92.34 ($2,401). Total = 382 units, ~$35,274.
- Shares owned after transaction: Not specified in the provided filing excerpt.
- Transaction type: A = Award/Grant of derivative securities (deferred stock units / restricted stock units).
- Notable footnotes: Awards are described as "notional shares" (deferred stock units) or restricted stock units under the Prudential Deferred Compensation Plan for non-employee directors. They generally convert to one share of PRU common stock (or cash at election) and have payout/vesting rules tied to retirement, elected payment dates, or specified vesting dates.
Context
- These are deferred compensation awards, meaning Todman did not buy shares on the open market; instead he received rights to future delivery of shares (or cash equivalent) per plan terms.
- Payout timing and form (stock vs. cash) are subject to the plan and the reporting person’s elections (may be payable at retirement, after a deferral period, or at elected dates).
- Such director awards are routine compensation and do not, by themselves, indicate insider buying or selling sentiment in the market.
Insider Transaction Report
Form 4
TODMAN MICHAEL
Director
Transactions
- Award
Notional Shares - Mandatory
[F1][F2]2026-03-12$92.34/sh+194$17,914→ 13,008 totalExercise: $0.00→ Common Stock (194 underlying) - Award
Notional Shares - Optional
[F3][F4]2026-03-12$92.34/sh+162$14,959→ 10,861 totalExercise: $0.00→ Common Stock (162 underlying) - Award
2025 Restricted Stock Units
[F5][F6]2026-03-12$92.34/sh+26$2,401→ 1,765 totalExercise: $0.00→ Common Stock (26 underlying)
Footnotes (6)
- [F1]Each notional share - mandatory represents a deferred stock unit and entitles the holder thereof with the right to receive one share of Issuer common stock under the Issuer's deferred compensation plan for non-employee directors.
- [F2]Such shares are issuable, at the election of the reporting person, to begin on either (i) a date prior to the reporting person's retirement date, provided that such date is no earlier than the January 1 in the year following the plan period during which such fees would otherwise have been payable to the reporting person, (ii) within 90 days following the reporting person's retirement date, or (iii) such later date as selected by the reporting person, provided however, that payment must commence in the year the reporting person attains age 70 1/2.
- [F3]Each notional share - optional represents a deferred stock unit and entitles the holder thereof with the right to receive one share of Issuer common stock or the cash value thereof under the Issuer's deferred compensation plan for non-employee directors.
- [F4]Such shares are payable in common stock or cash, at the election of the reporting person, with payment to begin, at the election of the reporting person provided that such date shall be at least two (2) years after the end of the plan year with respect to which such elective deferrals relate. The reporting person may transfer her investment in the notional shares - optional to an alternative investment account, subject to the terms of the Issuer's deferred compensation plan for non-employee directors.
- [F5]Each restricted stock unit represents a contingent right to receive one share of PRU common stock or the economic equivalent thereof. The restricted stock units become payable, in PRU common stock or in cash, at the election of the reporting person, upon or following the reporting person's termination of service as a Director unless the reporting person elects an earlier date pursuant to the terms of the Prudential Financial, Inc. 2011 Deferred Compensation Plan for Non-Employee Directors.
- [F6]The restricted stock units vest the earlier of the annual meeting or in one year on May 13, 2026 and were deferred until retirement from the Board under the Prudential Financial, Inc. 2011 Deferred Compensation Plan for Non-Employee Directors.
Signature
/s/ Richard J. Baker, attorney-in-fact|2026-03-16