Benjamin J. Tisch - 08 Feb 2023 Form 4 Insider Report for LOEWS CORP (L)

Role
Sr. VP, Corp Dev and Strategy
Signature
/s/ Thomas H. Watson, by power of attorney for Benjamin J. Tisch
Issuer symbol
L
Transactions as of
08 Feb 2023
Net transactions value
-$129,453
Form type
4
Filing time
09 Feb 2023, 13:20:33 UTC
Previous filing
08 Feb 2023
Next filing
13 Feb 2023
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction L Common Stock Options Exercise $0 +3,730 +24% $0.000000 19,074 08 Feb 2023 Direct F1
transaction L Common Stock Tax liability $129,453 -2,063 -11% $62.75 17,011 08 Feb 2023 Direct F2

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 Options Exercise $0 -3,730 -50% $0.000000 3,730 08 Feb 2023 Common Stock 3,730 Direct F1, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents the conversion upon vesting of restricted stock units ("RSUs") into common stock. On February 8, 2021, the Reporting Person was awarded 7,460 RSUs. 50% of these RSUs vested on February 8, 2023. The remaining 2021 RSUs will vest on February 8, 2024. 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 the shares by the Reporting Person.
F2 The Reporting Person is reporting the withholding, by the Issuer, of 2,063 shares of common stock that vested in respect of the 2021 RSUs on February 8, 2023 but were not issued in order to satisfy the Reporting Person's tax withholding obligations in connection therewith.
F3 Each RSU represents a contingent right to receive one share of the Issuer's common stock.