Statement of Changes in Beneficial Ownership (4)
February 11 2021 - 05:43PM
Edgar (US Regulatory)
FORM 4
[ ]
Check this box if no longer subject to Section 16. Form 4 or Form 5
obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL
OWNERSHIP OF SECURITIES
|
OMB
APPROVAL
OMB Number: 3235-0287
Estimated average burden
hours per response... 0.5 |
|
Filed pursuant to Section 16(a) of the
Securities Exchange Act of 1934 or Section 30(h) of the Investment
Company Act of 1940
|
|
1. Name
and Address of Reporting Person * TANJI KENNETH |
2. Issuer Name and Ticker or Trading
Symbol PRUDENTIAL FINANCIAL INC [ PRU ] |
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)_____
Director _____
10% Owner
__X__ Officer (give title
below) _____ Other
(specify below)
EVP and CFO |
(Last)
(First)
(Middle)
751 BROAD STREET, 4TH FLOOR, ATTN. CORPORATE
COMPLIANCE |
3. Date of Earliest Transaction (MM/DD/YYYY)
2/9/2021
|
(Street)
NEWARK, NJ 07102
(City)
(State)
(Zip)
|
4. If Amendment, Date Original Filed
(MM/DD/YYYY)
|
6. Individual or Joint/Group Filing
(Check Applicable Line) _X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person |
Table I - Non-Derivative Securities Acquired, Disposed of, or
Beneficially Owned
|
1.Title of Security
(Instr. 3) |
2. Trans. Date |
2A. Deemed Execution Date, if any |
3. Trans. Code
(Instr. 8) |
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) |
5. Amount of Securities Beneficially Owned Following
Reported Transaction(s)
(Instr. 3 and 4) |
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4) |
7. Nature of Indirect Beneficial Ownership (Instr.
4) |
Code |
V |
Amount |
(A) or (D) |
Price |
Common Stock |
2/9/2021 |
|
M |
|
3800 (1)(2) |
A |
$0 |
26018 |
D |
|
Common Stock |
2/9/2021 |
|
F |
|
1384 (3) |
D |
$81.43 |
24634 |
D |
|
Common Stock |
|
|
|
|
|
|
|
44 (4) |
I |
By 401(k) |
Table II - Derivative Securities Beneficially Owned
(e.g., puts, calls, warrants, options, convertible
securities)
|
1. Title of Derivate Security
(Instr. 3) |
2. Conversion or Exercise Price of Derivative
Security |
3. Trans. Date |
3A. Deemed Execution Date, if any |
4. Trans. Code
(Instr. 8) |
5. Number of Derivative Securities Acquired (A) or
Disposed of (D)
(Instr. 3, 4 and 5) |
6. Date Exercisable and Expiration Date |
7. Title and Amount of Securities Underlying
Derivative Security
(Instr. 3 and 4) |
8. Price of Derivative Security
(Instr. 5) |
9. Number of derivative Securities Beneficially
Owned Following Reported Transaction(s) (Instr. 4) |
10. Ownership Form of Derivative Security: Direct
(D) or Indirect (I) (Instr. 4) |
11. Nature of Indirect Beneficial Ownership (Instr.
4) |
Code |
V |
(A) |
(D) |
Date Exercisable |
Expiration Date |
Title |
Amount or Number of Shares |
2021 Restricted Stock Units |
(5) |
2/9/2021 |
|
A |
|
11503 |
|
(6) |
(6) |
Common Stock |
11503 |
$0 |
11503 |
D |
|
2021 Performance Shares |
(7) |
2/9/2021 |
|
A |
|
33158 |
|
(8) |
(8) |
Common Stock |
33158 |
$0 |
33158 |
D |
|
2018 Performance Shares |
$0 (1) |
2/9/2021 |
|
M |
|
|
1785 |
(1) |
(1) |
Common Stock |
1785 |
$0 |
0 |
D |
|
Explanation of
Responses: |
(1) |
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 2018 through 2020 performance period, as
adjusted based on the results of an inclusion and diversity
modifier. |
(2) |
Includes cash settled
performance units which were converted from cash to equity
settlement based on a decision by the Compensation
Committee. |
(3) |
Represents shares withheld
for the payment of taxes. |
(4) |
Amount reported has been
adjusted to include 1 share of Issuer common stock acquired by the
reporting person under The Prudential Employee Savings Plan between
September 30, 2020 and December 31, 2020 based on a plan statement
dated December 31, 2020. The acquisition of such shares was exempt
from Section 16 pursuant to Rules 16b-3(c) and
16a-3(f)(1)(i)(B). |
(5) |
The Restricted Stock Units
convert to common stock on a 1 to 1 basis. |
(6) |
The Restricted Stock Units
will vest 1/3 per year beginning on February 28, 2022. |
(7) |
The performance shares
convert to common stock on a 1 to 1 basis. |
(8) |
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 2024 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 2021 through 2023 performance period, as adjusted based on the
results of an inclusion and diversity modifier. |
Reporting
Owners
|
Reporting Owner Name / Address |
Relationships
|
Director |
10% Owner |
Officer |
Other |
TANJI KENNETH
751 BROAD STREET, 4TH FLOOR
ATTN. CORPORATE COMPLIANCE
NEWARK, NJ 07102 |
|
|
EVP and CFO |
|
Signatures
|
/s/ Richard J. Baker,
attorney-in-fact |
|
2/11/2021 |
**Signature of Reporting
Person |
Date |