Scott Sleyster - 08 Feb 2022 Form 4 Insider Report for PRUDENTIAL FINANCIAL INC (PRU)

Role
Executive Vice President
Signature
/s/ Richard J. Baker, attorney-in-fact
Issuer symbol
PRU
Transactions as of
08 Feb 2022
Net transactions value
-$12,097,086
Form type
4
Filing time
10 Feb 2022, 17:48:22 UTC
Previous filing
20 Dec 2021
Next filing
11 Feb 2022
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction PRU Common Stock Options Exercise $0 +22,884 +38% $0.000000 82,899 08 Feb 2022 Direct F1, F2
transaction PRU Common Stock Tax liability $1,270,810 -10,474 -13% $121.33 72,425 08 Feb 2022 Direct F3
holding PRU Common Stock 8,320 08 Feb 2022 By 401(k) F4

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction PRU 2022 Restricted Stock Units Award $0 +9,067 $0.000000 9,067 08 Feb 2022 Common Stock 9,067 $0.000000 Direct F5, F6
transaction PRU 2022 Performance Shares Award $0 +27,199 $0.000000 27,199 08 Feb 2022 Common Stock 27,199 $0.000000 Direct F7, F8
transaction PRU Deferred Compensation Shares Discretionary transaction in accordance with Rule 16b-3(f) resulting in acquisition or disposition of issuer securities $10,826,276 -89,230 -84% $121.33 16,573 08 Feb 2022 Common Stock 89,230 $0.000000 Direct F9, F10
transaction PRU 2019 Performance Shares Options Exercise $0 -12,211 -100% $0.000000* 0 08 Feb 2022 Common Stock 12,211 $0.000000 Direct F1
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The Compensation Committee determined the number of shares received based on the Company's return on equity ("ROE") performance relative to a pre-determined goal and relative to the ROE performance of certain life insurance peer companies for the 2019 through 2021 performance period
F2 Includes cash settled performance units which were converted from cash to equity settlement based on a decision by the Compensation Committee.
F3 Represents shares withheld for the payment of taxes.
F4 Amount reported has been adjusted to include 79 shares of Issuer common stock acquired by the reporting person under The Prudential Employee Savings Plan between September 30, 2021, and December 31, 2021, based on a plan statement dated December 31, 2021. The acquisition of such shares was exempt from Section 16 pursuant to Rules 16b-3(c) and 16a-3(f)(1)(i)(B).
F5 The Restricted Stock Units convert to common stock on a 1 to 1 basis.
F6 The Restricted Stock Units will vest 1/3 per year beginning on February 28, 2023.
F7 The performance shares convert to common stock on a 1 to 1 basis.
F8 Represents the target number of shares to be received. The actual number of shares to be received will be determined by the Compensation Committee in February 2025 based on the Company's ROE performance relative to certain life insurance peer companies and performance relative to a pre-determined goal for growth in adjusted book value per share for the 2022 through 2024 performance period.
F9 Deferred Compensation Shares are based on unitized accounting and convert to common stock on a 1 to 1 basis.
F10 Deferred Compensation Shares are deemed immediately exercisable and are payable in cash at a date selected by the participant.