Benjamin J. Tisch - Feb 7, 2024 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
Stock symbol
L
Transactions as of
Feb 7, 2024
Transactions value $
$0
Form type
4
Date filed
2/9/2024, 04:15 PM
Previous filing
Feb 6, 2024
Next filing
Mar 20, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction L Common Stock Options Exercise $0 +3.7K +1.04% $0.00 359K Feb 7, 2024 Direct F1
transaction L Common Stock Options Exercise $0 +3.73K +1.04% $0.00 363K Feb 8, 2024 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 -3.7K -49.99% $0.00 3.7K Feb 7, 2024 Common Stock 3.7K Direct F1, F3
transaction L Restricted Stock Units Options Exercise $0 -3.73K -100% $0.00* 0 Feb 8, 2024 Common Stock 3.73K Direct F2, 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 7, 2022, the Reporting Person was awarded 7,401 RSUs ("2022 RSUs"), subject to the Issuer achieving a pre-determined 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 and the 2022 RSUs were then reported on a Form 4 filed with the Securities and Exchange Commission. 50% of these RSUs vested on February 7, 2024. The remaining 2022 RSUs vest on February 7, 2025.
F2 Represents the conversion upon vesting of RSUs into common stock. On February 8, 2021, the Reporting Person was awarded 7,460 RSUs ("2021 RSUs"). 50% of these RSUs vested on February 8, 2023. The remaining 2021 RSUs vested on February 8, 2024.
F3 Each RSU represents a contingent right to receive one share of the Issuer's common stock.