0001039828-24-000060.txt : 20240506
0001039828-24-000060.hdr.sgml : 20240506
20240506152320
ACCESSION NUMBER: 0001039828-24-000060
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20240502
FILED AS OF DATE: 20240506
DATE AS OF CHANGE: 20240506
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: Andre Axel
CENTRAL INDEX KEY: 0001881905
ORGANIZATION NAME:
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-31911
FILM NUMBER: 24917217
MAIL ADDRESS:
STREET 1: 6000 WESTOWN PARKWAY
CITY: WEST DES MOINES
STATE: IA
ZIP: 50266
ISSUER:
COMPANY DATA:
COMPANY CONFORMED NAME: AMERICAN EQUITY INVESTMENT LIFE HOLDING CO
CENTRAL INDEX KEY: 0001039828
STANDARD INDUSTRIAL CLASSIFICATION: LIFE INSURANCE [6311]
ORGANIZATION NAME: 02 Finance
IRS NUMBER: 421447959
STATE OF INCORPORATION: IA
FISCAL YEAR END: 1231
BUSINESS ADDRESS:
STREET 1: 6000 WESTOWN PARKWAY
CITY: WEST DEMOINES
STATE: IA
ZIP: 50266
BUSINESS PHONE: 5152210002
MAIL ADDRESS:
STREET 1: 6000 WESTOWN PARKWAY
CITY: WEST DES MOINES
STATE: IA
ZIP: 50266
4
1
wk-form4_1715023389.xml
FORM 4
X0508
4
2024-05-02
1
0001039828
AMERICAN EQUITY INVESTMENT LIFE HOLDING CO
AEL
0001881905
Andre Axel
6000 WESTOWN PARKWAY
WEST DES MOINES
IA
50266
0
1
0
0
EVP & Chief Financial Officer
0
Common Stock
2024-05-02
4
D
0
13740
D
0
D
Common Stock
2024-05-02
4
D
0
813
D
0
I
By ESOP
Options - Right to Buy
32.35
2024-05-02
4
D
0
14636
D
2031-09-07
Common Stock
14636
0
D
Performance-Based Restricted Stock Units
2024-05-02
4
D
0
55686
D
Common Stock
55686
0
D
On May 2, 2024, pursuant to the Agreement and Plan of Merger (the Merger Agreement), dated as of July 4, 2023, by and among the Issuer, Brookfield Reinsurance Ltd., a Bermuda exempted company limited by shares (Parent), Arches Merger Sub, Inc., an Iowa corporation and an indirect wholly owned subsidiary of Parent (Merger Sub), and Brookfield Asset Management Ltd., a company incorporated under the laws of the Province of British Columbia (BAM), the Issuer merged with and into Merger Sub, with the Issuer surviving as a wholly-owned subsidiary of Parent (the Merger).
Pursuant to the Merger Agreement, at the effective time of the Merger (the Effective Time), each issued and outstanding share of common stock, par value $1.00 per share, of the Issuer (AEL Common Stock) was exchanged for (i) $38.85 per share in cash, without interest (the Cash Consideration) and (ii) a number of fully-paid and nonassessable shares of class A limited voting shares of BAM (BAM Class A Stock) equal to the Exchange Ratio (as defined in the Merger Agreement) (the Stock Consideration, together with the Cash Consideration, the Merger Consideration), for an aggregate value of $56.50 per share of AEL Common Stock based on the 10-day volume-weighted average share price of BAM Class A Stock (measured five business days prior to May 2, 2024) (the BAM Class A Stock Price).
Includes 11,330 restricted stock units of the Issuer (AEL RSUs). Pursuant to the Merger Agreement, at the Effective Time, each outstanding AEL RSU, other than the AEL RSUs granted following the date of the Merger Agreement (Rollover AEL RSUs), was automatically canceled and converted into the right to receive a cash payment, without interest, equal to the product of (1) the number of shares of AEL Common Stock subject to such AEL RSU immediately prior to the Effective Time and (2) $55.
Pursuant to the Merger Agreement, at the Effective Time, each outstanding and unexercised option to purchase shares of AEL Common Stock (AEL Options) (whether vested or unvested) was automatically canceled and converted into the right to receive a cash payment, without interest, equal to the product of (i) the number of shares of AEL Common Stock subject to such AEL Option immediately prior to the Effective Time and (ii) the excess, if any, of $55 over the exercise price per share of such AEL Option.
Pursuant to the Merger Agreement, at the Effective Time, each outstanding restricted stock unit subject to performance-based vesting conditions (each, an AEL PSU) was automatically canceled and converted into the right to receive a cash payment, without interest, equal to the product of (i) the number of shares of AEL Common Stock subject to such AEL PSU immediately prior to the Effective Time (based on (A) for AEL PSUs other than the AEL PSUs granted pursuant to the employee restricted stock unit award agreement, dated November 29, 2022, by and between AEL and the Chief Executive Officer of AEL (such PSUs, the VWAP PSUs), a performance level determined based on the greater of target and actual performance as reasonably determined by the Compensation and Talent Management Committee of the board of directors of the Issuer immediately prior to the Effective Time and (B) for the VWAP PSUs, attainment of applicable performance goals based on $55) and (ii) $55.
/s/ Axel Andre
2024-05-06