Joseph L. Bower - Jun 1, 2023 Form 4 Insider Report for LOEWS CORP (L)

Role
Director
Signature
/s/ Thomas H. Watson by power of attorney for Joseph L. Bower
Stock symbol
L
Transactions as of
Jun 1, 2023
Transactions value $
-$13,316
Form type
4
Date filed
6/2/2023, 04:52 PM
Previous filing
May 10, 2023
Next filing
Sep 5, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction L Common Stock Options Exercise $100K +2.25K +15.87% $44.44 16.4K Jun 1, 2023 Direct F1
transaction L Common Stock Disposed to Issuer -$100K -1.78K -10.81% $56.28 14.6K Jun 1, 2023 Direct F1
transaction L Common Stock Sale -$13.4K -237 -1.62% $56.34 14.4K Jun 1, 2023 Direct F1, 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 Stock Appreciation Right Options Exercise $0 -2.25K -100% $0.00* 0 Jun 1, 2023 Common Stock 2.25K $44.44 Direct F1, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 The transactions reported in this Form 4 were made pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on August 11, 2022.
F2 Represents the weighted average price of multiple transactions with a range of prices between $56.28 and $56.40. 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.
F3 The Reporting Person received the Derivative Security pursuant to a stock appreciation right grant at no cost.