AIG sells 80M shares of Corebridge in IPO at $21/share, gross proceeds $1.613B

AMERICAN INTERNATIONAL GROUP, INC.

Underwriting agreement: AIG to sell 80M Corebridge shares at $21 each, gross proceeds ~$1.613B; underwriters have 30-day option for 12M more.
Separation Agreement governs post-IPO relationship: AIG retains board designation rights, consent rights on major actions while >50% owner.
Registration Rights Agreement gives AIG demand and piggyback registration rights for its Corebridge shares after lock-up expiry.
AIG's lock-up on Corebridge shares lasts 180 days from IPO prospectus date, subject to exceptions.
IPO proceeds to AIG before expenses ~$1.613B; Corebridge remains a majority-owned subsidiary post-IPO.

item 1.01 item 5.02 item 8.01 item 9.01

Executive movements

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Departed

Kevin Hogan

Executive Vice President and Chief Executive Officer, Life and Retirement

AIG · AMERICAN INTERNATIONAL GROUP, INC.

Effective: 2022-09-19
Filed: September 20, 2022, 7:59 PM ET

Kevin Hogan, President and Chief Executive Officer of Corebridge, no longer serves as Executive Vice President and Chief Executive Officer, Life and Retirement, AIG.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Kevin Hogan departed as Executive Vice President and Chief Executive Officer, Life and Retirement at AMERICAN INTERNATIONAL GROUP, INC..

Action: no longer serves
Role: Executive Vice President and Chief Executive Officer, Life and Retirement

Exact text from the filing

Kevin Hogan, President and Chief Executive Officer of Corebridge, no longer serves as Executive Vice President and Chief Executive Officer, Life and Retirement, AIG.

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AMERICAN INTERNATIONAL GROUP, INC. filing history →

Source: SEC EDGAR

accession 0001104659-22-101574

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