Filing Details
- Accession Number:
- 0001127602-20-005395
- Form Type:
- 4
- Zero Holdings:
- No
- Publication Time:
- 2020-02-13 20:46:12
- Reporting Period:
- 2020-02-11
- Accepted Time:
- 2020-02-13 20:46:12
- SEC Url:
- Form 4 Filing
Issuer
| Cik | Name | Symbol | Sector (SIC) | IRS No |
|---|---|---|---|---|
| 1137774 | Prudential Financial Inc | PRU | Life Insurance (6311) | 223703799 |
Insiders
| Cik | Name | Reported Address | Insider Title | Director | Officer | Large Shareholder | Other |
|---|---|---|---|---|---|---|---|
| 1256465 | Robert Falzon | 751 Broad Street, 4Th Floor Attn. Corporate Compliance Newark NJ 07102 | Evp And Vice Chairman | No | Yes | No | No |
Reported Non-Derivative Transactions
| Sec. Name | Acquisiton - Disposition | Date | Amount | Price | Remaning Holdings | Equity Swap Involved | Form Type | Code | Nature of Ownership | Explanation |
|---|---|---|---|---|---|---|---|---|---|---|
| Common Stock | Acquisiton | 2020-02-11 | 22,268 | $0.00 | 85,396 | No | 4 | M | Direct | |
| Common Stock | Disposition | 2020-02-11 | 11,300 | $95.87 | 74,096 | No | 4 | F | Direct | |
| Common Stock | Acquisiton | 2020-02-11 | 50,474 | $63.59 | 124,570 | No | 4 | M | Direct | |
| Common Stock | Disposition | 2020-02-11 | 39,748 | $96.44 | 84,822 | No | 4 | S | Direct |
| Equity Swap Involved | Form Type | Code | Nature of Ownership | Explanation |
|---|---|---|---|---|
| No | 4 | M | Direct | |
| No | 4 | F | Direct | |
| No | 4 | M | Direct | |
| No | 4 | S | Direct |
Reported Derivative Transactions
| Sec. Name | Sec. Type | Acquisiton - Disposition | Date | Amount | Price | Amount - 2 | Price - 2 |
|---|---|---|---|---|---|---|---|
| Common Stock | 2017 Performance Shares | Disposition | 2020-02-11 | 11,380 | $0.00 | 11,380 | $0.00 |
| Common Stock | 2020 Employee Stock Option (Right to Buy) | Acquisiton | 2020-02-11 | 74,325 | $0.00 | 74,325 | $95.87 |
| Common Stock | 2020 Performance Share | Acquisiton | 2020-02-11 | 41,306 | $0.00 | 41,306 | $0.00 |
| Common Stock | 2016 Employee Stock Option (Right to Buy) | Disposition | 2020-02-11 | 50,474 | $0.00 | 50,474 | $63.59 |
| Remaning Holdings | Exercise Date | Expiration Date | Equity Swap Involved | Transaction Form Type | Transaction Code | Nature of Ownership |
|---|---|---|---|---|---|---|
| 0 | No | 4 | M | Direct | ||
| 74,325 | 2030-02-11 | No | 4 | A | Direct | |
| 41,306 | No | 4 | A | Direct | ||
| 0 | 2026-02-09 | No | 4 | M | Direct |
Reported Non-Derivative Holdings
| Sec. Name | Remaning Holdings | Nature of Ownership | Explanation |
|---|---|---|---|
| Common Stock | 605 | Indirect | By 401(k) |
| Common Stock | 3,580 | Indirect | By Spouse |
Footnotes
- The Compensation Committee awarded these shares based upon performance relative to the average Return On Equity (ROE) goals and relative to the ROE achievement of certain life insurance peer companies for the 2017 through 2019 performance period.
- Includes cash settled performance units which were converted from cash to equity settlement based on a decision by the Compensation Committee.
- Represents shares withheld for the payment of taxes.
- The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $96.43 to $96.45 inclusive. The reporting person undertakes to provide to Prudential Financial, Inc., any security holder of Prudential Financial, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnote (4) to this Form 4.
- Following the transactions reported on this Form 4, Mr. Falzon continues to hold 84,822 shares directly and 605 shares indirectly in a 401(k) account. Mr. Falzon also holds an additional 86,751 vested stock options, 136,943 unvested stock options and 101,294 target performance shares (the exact number awarded being dependent on achievement of performance goals).
- Amount reported has been adjusted to include 6 shares of Issuer common stock acquired by the reporting person under The Prudential Employee Savings Plan between September 30, 2019 and December 31, 2019 based on a plan statement dated December 31, 2019. The acquisition of such shares was exempt from Section 16 pursuant to Rules 16b-3(c) and 16a-3(f)(1)(i)(B).
- The options vest in three equal annual installments beginning on February 11, 2021.
- The performance shares convert to common stock on a 1 to 1 basis.
- Represents the target number of shares to be received relative to the Company's average ROE goals and relative to the ROE achievement of certain life insurance peer companies for the 2020 through 2022 performance period. The actual number of shares to be received will be determined by the Compensation Committee in February 2023.
- The options vest in three equal annual installments beginning on February 9, 2017.
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