Hayden John W. 4

What Happened
John W. Hayden, Executive Vice President and Controller of Reinsurance Group of America, exercised/converted 2,252 performance-contingent stock units into 2,252 shares on March 12, 2026. The shares were valued at the closing price of $205.00 ($461,660). To cover tax withholding, 656 of those shares were delivered back to the issuer (valued at $134,480), leaving a net 1,596 shares retained (net value ≈ $327,180).

Key Details

• Transaction date: 2026-03-12; Form 4 filed 2026-03-16 (filed within the normal two-business-day window).
• Gross shares issued on conversion: 2,252 at $205.00 (reported value $461,660).
• Shares withheld for taxes: 656 at $205.00 (reported value $134,480).
• Net shares retained: 1,596 (2,252 − 656), net value ≈ $327,180.
• Footnotes: F1 — units were performance-contingent stock granted March 9, 2023; F2 — shares delivered to issuer to satisfy tax withholding using the $205.00 closing price; F3 — each unit equals one share; F4 — expiration not applicable.
• Transaction codes: M = exercise/conversion of derivative; F = shares delivered for tax withholding.
• Shares owned after the transaction are not reported in the provided filing extract.

Context
This was a conversion of awarded performance units into common shares (not an open-market buy or sale). The portion of shares surrendered to the company to satisfy tax withholding is a routine administrative step and not a directional sale on the open market.