Richard W. Scott - Feb 6, 2023 Form 4 Insider Report for LOEWS CORP (L)

Role
SVP & Chief Investment Officer
Signature
/s/ Thomas H. Watson, by power of attorney for Richard W. Scott
Stock symbol
L
Transactions as of
Feb 6, 2023
Transactions value $
-$781,710
Form type
4
Date filed
2/8/2023, 11:57 AM
Previous filing
May 24, 2022
Next filing
Feb 9, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction L Common Stock Options Exercise $524K +11.3K +26.21% $46.58 54.2K Feb 7, 2023 Direct
transaction L Common Stock Options Exercise $488K +11.3K +20.77% $43.37 65.4K Feb 7, 2023 Direct
transaction L Common Stock Options Exercise $493K +11.3K +17.2% $43.83 76.7K Feb 7, 2023 Direct
transaction L Common Stock Options Exercise $472K +11.3K +14.67% $41.98 87.9K Feb 7, 2023 Direct
transaction L Common Stock Disposed to Issuer -$1.98M -32.5K -36.96% $60.85 55.4K Feb 7, 2023 Direct
transaction L Common Stock Sale -$782K -12.5K -22.56% $62.51 42.9K Feb 7, 2023 Direct F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction L Restricted Stock Units Award $0 +13.2K $0.00 13.2K Feb 6, 2023 Common Stock 13.2K Direct F2, F3
transaction L Stock Appreciation Right Options Exercise $0 +11.3K $0.00* 0 Feb 7, 2023 Common Stock 11.3K $46.58 Direct F4
transaction L Stock Appreciation Right Options Exercise $0 +11.3K $0.00* 0 Feb 7, 2023 Common Stock 11.3K $43.37 Direct F4
transaction L Stock Appreciation Right Options Exercise $0 +11.3K $0.00* 0 Feb 7, 2023 Common Stock 11.3K $43.83 Direct F4
transaction L Stock Appreciation Right Options Exercise $0 +11.3K $0.00* 0 Feb 7, 2023 Common Stock 11.3K $41.98 Direct F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents the weighted average price of multiple transactions with a range of prices between $62.29 and $62.71. The Reporting Person, upon request by the Commission Staff, the Issuer or a security holder of the Issuer, undertakes to provide further information regarding the number of securities at each separate price sold.
F2 Each restricted stock unit ("RSU") represents a contingent right to receive one share of the Issuer's common stock.
F3 13,157 RSUs were awarded to the Reporting Person on February 7, 2022 subject to the Issuer achieving a pre-determined target level of performance-based income ("PBI Metric") for 2022. The Issuer's Compensation Committee determined that the Issuer achieved the PBI Metric on February 6, 2023. 50% of the 2022 RSUs vest on February 7, 2024 and the remaining 50% vest on February 7, 2025. Shares of the Issuer's common stock will be delivered to the Reporting Person within 30 days after vesting, subject to any election to defer delivery of shares by the Reporting Person.
F4 The Stock Appreciation Rights became exercisable in equal quarterly installments beginning on January 14, 2015.