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LOEWS CORP — Director's Dealing 2024
Feb 9, 2024
30284_dirs_2024-02-09_e0674afe-b3b0-4732-a3df-77f0635d8033.zip
Director's Dealing
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SEC Form 4 — Statement of Changes in Beneficial Ownership
Issuer: LOEWS CORP (L)
CIK: 0000060086
Period of Report: 2024-02-07
Reporting Person: Alpert Marc A (Sr. VP, Gen. Coun. & Secy.)
Non-Derivative Transactions
| Date | Security | Code | Shares | Price | A/D | Holdings After | Ownership |
|---|---|---|---|---|---|---|---|
| 2024-02-07 | Common Stock | M | 6578 | — | Acquired | 19943 | Direct |
| 2024-02-07 | Common Stock | F | 3638 | $72.81 | Disposed | 16305 | Direct |
| 2024-02-08 | Common Stock | M | 7567 | — | Acquired | 23872 | Direct |
| 2024-02-08 | Common Stock | F | 4185 | $72.66 | Disposed | 19687 | Direct |
Derivative Transactions
| Date | Security | Exercise Price | Code | Shares | A/D | Expiration | Underlying | Ownership |
|---|---|---|---|---|---|---|---|---|
| 2024-02-07 | Restricted Stock Units | $ | M | 6578 | Disposed | Common Stock (6578) | Direct | |
| 2024-02-08 | Restricted Stock Units | $ | M | 7567 | Disposed | Common Stock (7567) | Direct |
Footnotes
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.