Richard W. Scott - Feb 6, 2025 Form 4 Insider Report for LOEWS CORP (L)

Signature
/s/ Thomas H. Watson, by power of attorney for Richard W. Scott
Stock symbol
L
Transactions as of
Feb 6, 2025
Transactions value $
-$435,893
Form type
4
Date filed
2/10/2025, 05:09 PM
Previous filing
May 22, 2024
Next filing
Feb 26, 2025

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction L Common Stock Options Exercise $0 +6.61K +15.39% $0.00 49.5K Feb 6, 2025 Direct F1
transaction L Common Stock Tax liability -$209K -2.42K -4.89% $86.28 47.1K Feb 6, 2025 Direct F2
transaction L Common Stock Options Exercise $0 +6.58K +13.97% $0.00 53.7K Feb 7, 2025 Direct F3
transaction L Common Stock Tax liability -$227K -2.62K -4.87% $86.81 51.1K Feb 7, 2025 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 -6.61K -50% $0.00 6.61K Feb 6, 2025 Common Stock 6.61K Direct F1, F5
transaction L Restricted Stock Units Options Exercise $0 -6.58K -100% $0.00 0 Feb 7, 2025 Common Stock 6.58K Direct F3, F5
transaction L Restricted Stock Units Award $0 +11K $0.00 11K Feb 10, 2025 Common Stock 11K Direct F5, F6
* 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 6, 2023, the Reporting Person was awarded 13,213 RSUs ("2023 RSUs"), subject to the Issuer achieving a pre-determined 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 and the 2023 RSUs were then reported on a Form 4 filed with the Securities and Exchange Commission (the "SEC"). 50% of these RSUs vested on February 6, 2025. The remaining 2023 RSUs vest on February 6, 2026.
F2 The Reporting Person is reporting the withholding by the Issuer of shares of common stock that vested in respect of the 2023 RSUs on February 6, 2025 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 7, 2022, the Reporting Person was awarded 13,157 RSUs ("2022 RSUs"), subject to the Issuer achieving a 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 SEC. 50% of these RSUs vested on February 7, 2024. The remaining 2022 RSUs vested on February 7, 2025.
F4 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, 2025 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.
F6 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.