Sec Form 4 Filing - Bhalla Anant @ AMERICAN EQUITY INVESTMENT LIFE HOLDING CO - 2023-09-18

FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person Bhalla Anant 2. Issuer Name and Ticker or Trading Symbol AMERICAN EQUITY INVESTMENT LIFE HOLDING CO [ AEL] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) X __ Director _____ 10% Owner X __ Officer (give title below) _____ Other (specify below) CEO & President (Last) (First) (Middle) 6000 WESTOWN PARKWAY 3. Date of Earliest Transaction (MM/DD/YY) 09/18/2023 (Street) WEST DES MOINES, IA50266 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) __ X __ Form filed by One Reporting Person _____ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock 09/18/2023 M 64,164 A $ 27.4 1,092,298 D Common Stock 09/18/2023 M 12,133 A $ 27.05 1,104,431 D Common Stock 09/18/2023 S 76,297 D $ 54.1183 ( 1 ) 1,028,134 D Common Stock 09/19/2023 M 92,638 A $ 27.05 1,120,772 D Common Stock 09/19/2023 S 92,638 D $ 54.121 ( 2 ) 1,028,134 D Common Stock 2,075 I By ESOP

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities) 1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) 6. Date Exercisable and Expiration Date (MM/DD/YY) 7. Title and Amount of Underlying Securities (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4) Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares Options - Right to Buy $ 27.4 09/18/2023 M 64,164 02/25/2022( 3 ) 02/25/2031 Common Stock 64,164 $ 0 32,082 D Options - Right to Buy $ 27.05 09/18/2023 M 12,133 01/02/2022( 4 ) 11/19/2030 Common Stock 12,133 $ 0 231,917 D Options - Right to Buy $ 27.05 09/19/2023 M 92,638 01/02/2022( 4 ) 11/19/2030 Common Stock 92,638 $ 0 139,279 D

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other Bhalla Anant 6000 WESTOWN PARKWAY WEST DES MOINES, IA50266 X CEO & President Signatures /s/ Mark A. Schuman, authorized signer 09/20/2023 Signature of Reporting Person Date

Explanation of Responses:

( 1 )This transaction was executed in multiple trades at prices ranging from $54.11 to $54.17. The price reported in column 4 is a weighted average price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares sold and the prices at which the transactions were settled. ( 2 )This transaction was executed in multiple trades at prices ranging from $54.10 to $54.17. The price reported in column 4 is a weighted average price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares sold and the prices at which the transactions were settled. ( 3 )An award of stock options pursuant to the American Equity Investment Life Holding Company Amended and Restated Equity Incentive Plan, 1/3 of which vested one year from date of grant, 1/3 vested two years from date of grant, and the remaining 1/3 will vest three years from date of grant. One-half of these options became exercisable on February 25, 2022, and the other half became exercisable on February 25, 2023. ( 4 )Fifty percent (50%) of the option award granted vested on January 2, 2022, upon the performance of certain company objectives. The remaining fifty percent (50%) of the option award vested on the one year anniversary of the vesting of the initial fifty percent (50%) of the option award.

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4(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).

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