Benjamin J. Tisch - 07 Feb 2025 Form 4 Insider Report for LOEWS CORP (L)

Role
PRES. & CHIEF EXEC. OFFICER
Signature
/s/ Thomas H. Watson, by power of attorney for Benjamin J. Tisch
Issuer symbol
L
Transactions as of
07 Feb 2025
Net transactions value
+$321,284
Form type
4
Filing time
10 Feb 2025, 17:12:59 UTC
Previous filing
20 Sep 2024
Next filing
18 Feb 2025
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 $321,284 +3,701 +1% $86.81 360,377 07 Feb 2025 Direct F1
holding L Common Stock 348,970 07 Feb 2025 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 Restricted Stock Units Options Exercise $0 -3,701 -100% $0.000000 0 07 Feb 2025 Common Stock 3,701 Direct F1, F2
transaction L Restricted Stock Units Award $0 +10,951 $0.000000 10,951 10 Feb 2025 Common Stock 10,951 Direct 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 vested on February 7, 2025.
F2 Each RSU represents a contingent right to receive one share of the Issuer's common stock.
F3 The RSUs were awarded to the Reporting Person on February 5, 2024 subject to the Issuer achieving a PBI Metric for 2024. The Issuer's Compensation Committee determined that the Issuer achieved the PBI Metric on February 10, 2025. 50% of the RSUs vest on February 5, 2026 and the remaining 50% vest on February 5, 2027. 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.