Richard W. Scott - Feb 7, 2024 Form 4 Insider Report for LOEWS CORP (L)

Role
SVP & Chief Investment Officer
Signature
/s/ Thomas H. Watson, by power of attorney for Richard W. Scott
Stock symbol
L
Transactions as of
Feb 7, 2024
Transactions value $
-$370,922
Form type
4
Date filed
2/9/2024, 04:23 PM
Previous filing
Feb 6, 2024
Next filing
Feb 15, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction L Common Stock Options Exercise $0 +6.58K +13.09% $0.00 56.8K Feb 7, 2024 Direct F1
transaction L Common Stock Tax liability -$173K -2.37K -4.17% $72.81 54.5K Feb 7, 2024 Direct F2
transaction L Common Stock Options Exercise $0 +7.57K +13.9% $0.00 62K Feb 8, 2024 Direct F3
transaction L Common Stock Tax liability -$198K -2.73K -4.4% $72.66 59.3K Feb 8, 2024 Direct F4

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 -6.58K -50% $0.00 6.58K Feb 7, 2024 Common Stock 6.58K Direct F1, F5
transaction L Restricted Stock Units Options Exercise $0 -7.57K -100% $0.00* 0 Feb 8, 2024 Common Stock 7.57K Direct F3, F5
* 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 13,157 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 (the "SEC"). 50% of these RSUs vested on February 7, 2024. The remaining 2022 RSUs vest on February 7, 2025.
F2 The Reporting Person is reporting the withholding by the Issuer of shares of common stock that vested in respect of the 2022 RSUs on February 7, 2024 but were not issued in order to satisfy the Reporting Person's tax withholding obligations in connection therewith.
F3 Represents the conversion upon vesting of RSUs into common stock. On February 8, 2021, the Reporting Person was awarded 15,134 RSUs ("2021 RSUs"), subject to the Issuer achieving a pre-determined level of performance based income ("PBI Metric") for 2021. The Issuer's Compensation Committee determined that the Issuer achieved the PBI Metric on February 7, 2022 and the 2021 RSUs were then reported on a Form 4 filed with the SEC. 50% of these RSUs vested on February 8, 2023. The remaining 2021 RSUs vested on February 8, 2024.
F4 The Reporting Person is reporting the withholding by the Issuer of shares of common stock that vested in respect of the 2021 RSUs on February 8, 2024 but were not issued in order to satisfy the Reporting Person's tax withholding obligations in connection therewith.
F5 Each RSU represents a contingent right to receive one share of the Issuer's common stock.