02/09/2026 | Press release | Distributed by Public on 02/09/2026 16:19
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FORM 3
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 |
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| Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | SEC 1473 (7-02) | ||
| Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. | |||
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1. Title of Derivative Security (Instr. 4) |
2. Date Exercisable and Expiration Date (Month/Day/Year) |
3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) |
4. Conversion or Exercise Price of Derivative Security |
5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5) |
6. Nature of Indirect Beneficial Ownership (Instr. 5) |
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| Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||
| 2023 Performance Shares | (1) | (1) | Common Stock | 12,371 | $0(2) | D | |
| 2023 Restricted Stock Units | (3) | (3) | Common Stock | 1,768 | (4) | D | |
| 10/10/2023 Restricted Stock Units | (5) | (5) | Common Stock | 1,774 | $0(4) | D | |
| 2024 Performance Shares | (6) | (6) | Common Stock | 13,470 | $0(2) | D | |
| 2024 Restricted Stock Units | (7) | (7) | Common Stock | 3,849 | (4) | D | |
| 2025 Performance Shares | (8) | (8) | Common Stock | 13,271 | $0(2) | D | |
| 2025 Restricted Stock Units | (9) | (9) | Common Stock | 5,688 | $0(4) | D | |
| Reporting Owner Name / Address | Relationships | |||
| Director | 10% Owner | Officer | Other | |
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Waldeck George P Jr. 751 BROAD STREET, 5TH FLOOR ATTN: REGULATORY FILINGS UNIT NEWARK, NJ 07102 |
Executive Vice President | |||
| /s/ Richard J. Baker, attorney-in-fact | 02/09/2026 | |
| **Signature of Reporting Person | Date |
| * | If the form is filed by more than one reporting person, see Instruction 5(b)(v). |
| ** | Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). |
| (1) | 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 2026 based on the Company's ROE performance relative to a performance peer group of companies and performance relative to a pre-determined goal for growth in adjusted book value per share for the 2023 through 2025 performance period. |
| (2) | The performance shares convert to common stock on a 1 to 1 basis. |
| (3) | The Restricted Stock Units will vest 1/3 per year beginning the last day of February 2024. |
| (4) | The Restricted Stock Units convert to common stock on a 1 to 1 basis. |
| (5) | he Restricted Stock Units will vest 1/3 per year beginning the last day of October 2024. |
| (6) | Represents the target number of shares to be received. The actual number of shares to be received will be determined by the Compensation and Human Capital Committee in February 2027 based on the Company's ROE performance relative to a performance peer group of companies and performance relative to a pre-determined goal for growth in adjusted book value per share for the 2024 through 2026 performance period. |
| (7) | The Restricted Stock Units will vest 1/3 per year beginning the last day of February 2025. |
| (8) | Represents the target number of shares to be received. The actual number of shares to be received will be determined by the Compensation and Human Capital Committee in February 2028 based on the Company's ROE performance relative to a performance peer group of companies and performance relative to a pre-determined goal for growth in adjusted book value per share for the 2025 through 2027 performance period. |
| (9) | The Restricted Stock Units will vest 1/3 per year beginning the last day of February 2026. |