Kenneth I. Siegel - Feb 5, 2024 Form 4 Insider Report for LOEWS CORP (L)

Signature
/s/ Thomas H. Watson, by power of attorney for Kenneth I. Siegel
Stock symbol
L
Transactions as of
Feb 5, 2024
Transactions value $
$0
Form type
4
Date filed
2/6/2024, 04:21 PM
Previous filing
Dec 1, 2023
Next filing
Feb 9, 2024

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 5, 2024 Common Stock 13.2K Direct F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each Restricted Stock Unit ("RSU") represents a contingent right to receive one share of the Issuer's common stock.
F2 The RSUs were awarded to the Reporting Person on February 6, 2023 subject to the Issuer achieving a pre-determined target level of performance-based income ("PBI Metric") for 2023. The Issuer's Compensation Committee determined that the Issuer achieved the PBI Metric on February 5, 2024. 50% of the RSUs vest on February 6, 2025 and the remaining 50% vest on February 6, 2026. 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.