AEL accelerates $8M+ in executive payouts to avoid merger-related excise taxes

American National Group Inc.

Committee approved Dec 2023 payment of 2023 cash bonuses: Bhalla $3.65M, André $1.916M, Hamalainen $1.916M, Lorenzen $568,960.
Accelerated vesting/settlement of 2021 PSUs for Bhalla (109,490), Hamalainen (26,460), Lorenzen (26,884) at Dec 20 closing price.
Accelerated payouts require repayment if executive leaves without good reason or is terminated for cause before original payment/vesting date.
Actions taken to mitigate 'excess parachute payment' exposure under Sections 280G/4999 due to pending Brookfield merger.

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