SEC Form 4 · accession 0001140361-16-064509
LOEWS CORP · L
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Mark S Schwartz
Officer — VP & Chief Accounting Officer
Period of report
May 10, 2016
Accepted (ET)
May 11, 2016 · 2:24 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000060086
Table I — non-derivative securities
No Table I lines on this filing.
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitsF2,F1,F4 | — | May 10, 2016 | A | 12,500 | A | — | — | Common Stock | 12,500 | 12,500 | D |
| Restricted Stock UnitsF3,F1,F4 | — | May 10, 2016 | A | 21 | A | — | — | Common Stock | 21 | 12,521 | D |
Explanation of responses
- F1Each restricted stock unit ("RSU") represents a contingent right to receive one share of the Issuer's common stock.
- F2The RSUs were awarded to the Reporting Person on February 11, 2016, subject to approval of the Issuer's 2016 Incentive Compensation Plan (the "Plan") by its shareholders. The Issuer's shareholders approved the Plan at the Issuer's annual meeting of shareholders on May 10, 2016 (the "Annual Meeting").
- F3Represents additional RSUs awarded to the Reporting Person on account of dividend equivalent rights awarded on March 14, 2016 associated with previously awarded RSUs, subject to approval of the Plan by the Issuer's shareholders at the Annual Meeting. The Issuer's shareholders approved the Plan at the Annual Meeting.
- F450% of the RSUs vest on February 11, 2018 and 50% vest on February 11, 2019. Shares of the Issuer's common stock will be delivered to the Reporting Person within 30 days after vesting.