Form 4 for L Loews Corporation
Accepted 2023-02-09 00:00:00 ET · period of report 2023-02-08 · accession 0000060086-23-000049 · SEC index · Original document
Summary rows
Aggregated the way they appear in lists: one row per insider, transaction code and security table.
| X | Filed | Traded | Ticker | Insider | Title | Type | Price | Qty | Owned | ΔOwn | Value |
|---|---|---|---|---|---|---|---|---|---|---|---|
| D | 2023-02-09 | 2023-02-08 | L | TISCH JONATHAN M | Co-Ch. of Bd, Off. of the Pres, Dir | M - OptEx | $0.00 | +9,592 | 9,592 | New | $0 |
| D | 2023-02-09 | 2023-02-08 | L | TISCH JONATHAN M | Co-Ch. of Bd, Off. of the Pres, Dir | F - Tax | $62.75 | -5,305 | 4,287 | -55% | -$332.9K |
| D | 2023-02-09 | 2023-02-08 | L | TISCH JONATHAN M | Co-Ch. of Bd, Off. of the Pres, Dir | S - Sale+OE | $62.35 | -4,287 | 0 | -100% | -$267.3K |
| D | 2023-02-09 | 2023-02-08 | L | TISCH JONATHAN M | Co-Ch. of Bd, Off. of the Pres, Dir | M - OptEx | $0.00 | -9,592 | 9,592 | -50% | $0 |
Purchase Sale Sale after option exercise All abbreviations
Every reported transaction
| # | Table | Security | Date | Code | A/D | Shares | Price | Owned after | Own | Exercise / expiry | Underlying | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Common | Common Stock | 2023-02-08 | M | A | 9,592 | $0.00 | 9,592 | D | — | — | (F1) Represents the conversion upon vesting of restricted stock units ("RSUs") into common stock. On February 8, 2021, the Reporting Person was awarded 19,184 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 Securities and Exchange Commission. 50% of these RSUs vested on February 8, 2023. The remaining 2021 RSUs will vest on February 8, 2024. 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. |
| 2 | Common | Common Stock | 2023-02-08 | F | D | 5,305 | $62.75 | 4,287 | D | — | — | (F2) The Reporting Person is reporting the withholding, by the Issuer, of 5,305 shares of common stock that vested in respect of the 2021 RSUs on February 8, 2023 but were not issued in order to satisfy the Reporting Person's tax withholding obligations in connection therewith. |
| 3 | Common | Common Stock | 2023-02-08 | S | D | 4,287 | $62.35 | 0 | D | — | — | (F3) Represents the weighted average price of multiple transactions with a range of prices between $62.07 and $62.54. The Reporting Person, upon request by the SEC Staff, the Issuer or a security holder of the Issuer, undertakes to provide further information regarding the number of securities at each separate price sold. |
| 4 | Derivative | Restricted Stock Units | 2023-02-08 | M | D | 9,592 | $0.00 | 9,592 | D | — · — to — | 9,592 Common Stock | (F4) Each RSU represents a contingent right to receive one share of the Issuer's common stock. (F1) Represents the conversion upon vesting of restricted stock units ("RSUs") into common stock. On February 8, 2021, the Reporting Person was awarded 19,184 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 Securities and Exchange Commission. 50% of these RSUs vested on February 8, 2023. The remaining 2021 RSUs will vest on February 8, 2024. 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. |