Corebridge Financial Inc.
03/24/2026 | Press release | Distributed by Public on 03/24/2026 05:12
Management Change/Compensation (Form 8-K)
|
Item 5.02
|
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
|
On March 23, 2026, each of Rose Marie Glazer and Adam Burk resigned as members of the Board of Directors (the Board) of Corebridge Financial, Inc. (the Company) effective as of the close of business on March 23, 2026. Their resignations were not related to any disagreement with the Company on any matter relating to the Company's operations, policies or practices.
Ms. Glazer's and Mr. Burk's resignations follow: (a) the repurchase by the Company of its common stock from American International Group, Inc. (AIG), a Delaware corporation, on February 17, 2026, at a price of $30.42 per share for an aggregate purchase price of approximately $750 million (the Share Repurchase), which Share Repurchase decreased AIG's ownership interest to approximately 5%, and the resulting decrease to one (1) from two (2) of the number of Board members that AIG has the right to designate (such reduction in the number of Board member designees, and the related resignation of an AIG designee from the Board, being subject to the approval of certain insurance regulators, which has been obtained) pursuant to the Separation Agreement, dated as of September 14, 2022, between the Company and AIG (the Separation Agreement), as amended by that certain Amendment, dated as of May 16, 2024, by and between the Company and AIG (the Amendment); and (b) the waiver by AIG on March 23, 2026 of its right under the Separation Agreement and the Amendment to designate any members of the Board, and the resulting decrease to zero (0) from one (1) of the number of Board members designated by AIG.
The foregoing description of the Separation Agreement and the Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the Separation Agreement and the Amendment, copies of which are filed as Exhibits 10.4 and 10.58, respectively, to the Company's Annual Report on Form 10-K filed on February 11, 2026 and incorporated by reference herein.
Following Ms. Glazer's and Mr. Burk's resignations, the Board intends to decrease the authorized number of Board members to eleven (11) from thirteen (13).
Corebridge Financial Inc. published this content on March 24, 2026, and is solely responsible for the information contained herein. Distributed via EDGAR on March 24, 2026 at 11:12 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]