Andrew F. Sullivan, Chief Executive Officer and Chairman of the Board of Prudential Financial Inc, filed a Form 4 on November 10, 2026, disclosing stock option exercises and related share sales that occurred on November 6, 2026.

Key Highlights

  • Two option exercises: Sullivan exercised 2,577 options at $110.45 and 1,128 options at $107.28, both on November 6, 2026.
  • Shares sold to cover costs: 2,476 shares were sold at $121.32 and 1,068 shares were sold at $121.32 to cover exercise prices and applicable tax-withholding obligations.
  • Direct ownership after transactions: Sullivan holds 50,317 shares directly following the first set of transactions, and 50,377 shares directly after all reported transactions.
  • Indirect holdings: Sullivan holds 474 shares indirectly through a 401(k) account.
  • Additional holdings disclosed: Sullivan also holds 3,251 vested stock options, 43,685 restricted stock units, 12,559 deferred compensation shares, and 165,958 target performance shares.
  • Options expiration context: The exercised options were scheduled to expire on February 14, 2027 and October 2, 2027, respectively.

Sullivan's November 2026 Option Exercises at Prudential Financial

According to the filing, Andrew F. Sullivan exercised two sets of employee stock options on November 6, 2026, both pertaining to options set to expire in 2027. The first exercise involved 2,577 options with a conversion price of $110.45 per share, originally granted under a 2017 employee stock option plan that vested in three equal annual installments beginning February 14, 2018. The second exercise covered 1,128 options at $107.28 per share, from an October 2, 2017 grant that vested in three equal annual installments beginning October 2, 2018.

The filing states that Sullivan "sold a portion of the shares acquired upon exercise to cover the exercise price and applicable tax-withholding obligations" in both instances, with the remaining acquired shares retained. Specifically, 2,476 shares were disposed of at $121.32 per share in connection with the first exercise, and 1,068 shares were disposed of at $121.32 per share for the second. Following all reported transactions, Sullivan directly holds 50,377 shares of Prudential Financial common stock, listed on NYSE:PRU.

The filing also notes that the 474 shares reported as indirectly held reflect an adjustment to include 18 shares of Prudential Financial common stock acquired under The Prudential Employee Savings Plan between December 31, 2025, and September 30, 2026, based on a plan statement dated September 30, 2026. The filing states that acquisition of such shares "was exempt from Section 16 pursuant to Rules 16b-3(c) and 16a-3(f)(1)(i)(B)." After the reported transactions, Sullivan's derivative securities positions are reduced to zero for both exercised option grants.

What Was Disclosed

The Form 4 discloses two stock option exercises and related share sales by Prudential Financial's CEO and Chairman on November 6, 2026, along with Sullivan's resulting beneficial ownership of common stock held directly, through a 401(k), and in other equity-based instruments.