JONATHAN M. TISCH - 02 Jan 2024 Form 4 Insider Report for LOEWS CORP (L)

Role
Co-Ch. of Bd/Off. of the Pres., Director
Signature
/s/ Thomas H. Watson, by power of attorney for Jonathan M. Tisch
Issuer symbol
L
Transactions as of
02 Jan 2024
Net transactions value
-$1,553,675
Form type
4
Filing time
04 Jan 2024, 16:16:08 UTC
Previous filing
07 Dec 2023
Next filing
06 Feb 2024
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 $698,700 +15,000 +14% $46.58 121,870 02 Jan 2024 Direct F1
transaction L Common Stock Options Exercise $650,550 +15,000 +12% $43.37 136,870 02 Jan 2024 Direct F1
transaction L Common Stock Options Exercise $657,450 +15,000 +11% $43.83 151,870 02 Jan 2024 Direct F1
transaction L Common Stock Options Exercise $629,700 +15,000 +9.9% $41.98 166,870 02 Jan 2024 Direct F1
transaction L Common Stock Disposed to Issuer $2,636,252 -37,850 -23% $69.65 129,020 02 Jan 2024 Direct F1
transaction L Common Stock Sale $1,553,822 -22,150 -17% $70.15 106,870 02 Jan 2024 Direct F1, F2
holding L Common Stock 7,877,062 02 Jan 2024 By Trusts

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 -15,000 -100% $0.000000* 0 02 Jan 2024 Common Stock 15,000 $46.58 Direct F1, F3, F4
transaction L Stock Appreciation Right Options Exercise $0 -15,000 -100% $0.000000* 0 02 Jan 2024 Common Stock 15,000 $43.37 Direct F1, F3, F4
transaction L Stock Appreciation Right Options Exercise $0 -15,000 -100% $0.000000* 0 02 Jan 2024 Common Stock 15,000 $43.83 Direct F1, F3, F4
transaction L Stock Appreciation Right Options Exercise $0 -15,000 -100% $0.000000* 0 02 Jan 2024 Common Stock 15,000 $41.98 Direct F1, F3, F4
* 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 pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on March 6, 2023.
F2 Represents the weighted average price of multiple transactions with a range of prices between $69.65 and $70.47. 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 Stock Appreciation Rights became exercisable in equal quarterly installments beginning on January 14, 2015.
F4 The Reporting Person received the Derivative Security pursuant to a stock appreciation right grant at no cost.