SEC Form 4 · accession 0001140361-16-089826
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
Dec 13, 2016
Accepted (ET)
Dec 15, 2016 · 4:14 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000060086
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock | Dec 14, 2016 | M | 3,750 | $40.34 | A | 3,750 | D | |
| Common Stock | Dec 14, 2016 | M | 5,000 | $37.92 | A | 8,750 | D | |
| Common Stock | Dec 14, 2016 | M | 5,000 | $37.26 | A | 13,750 | D | |
| Common Stock | Dec 14, 2016 | M | 5,000 | $37.82 | A | 18,750 | D | |
| Common Stock | Dec 14, 2016 | M | 5,000 | $37.86 | A | 23,750 | D | |
| Common Stock | Dec 14, 2016 | M | 5,000 | $39.41 | A | 28,750 | D | |
| Common Stock | Dec 14, 2016 | D | 23,172 | $47.58 | D | 5,578 | D | |
| Common StockF1 | Dec 14, 2016 | S | 5,578 | $47.10 | D | 0 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitsF3,F2,F4 | — | Dec 13, 2016 | A | 16 | A | — | — | Common Stock | 16 | 12,576 | D |
| Stock Appreciation RightF6,F5 | $40.34 | Dec 14, 2016 | M | 3,750 | D | — | Jan 8, 2018 | Common Stock | 3,750 | 0 | D |
| Stock Appreciation RightF6,F7 | $37.92 | Dec 14, 2016 | M | 5,000 | D | — | Jan 12, 2020 | Common Stock | 5,000 | 0 | D |
| Stock Appreciation RightF6,F7 | $37.26 | Dec 14, 2016 | M | 5,000 | D | — | Jan 12, 2020 | Common Stock | 5,000 | 0 | D |
| Stock Appreciation RightF6,F7 | $37.82 | Dec 14, 2016 | M | 5,000 | D | — | Jan 12, 2020 | Common Stock | 5,000 | 0 | D |
| Stock Appreciation RightF6,F8 | $37.86 | Dec 14, 2016 | M | 5,000 | D | — | Jan 10, 2022 | Common Stock | 5,000 | 0 | D |
| Stock Appreciation RightF6,F8 | $39.41 | Dec 14, 2016 | M | 5,000 | D | — | Jan 10, 2022 | Common Stock | 5,000 | 0 | D |
Explanation of responses
- F1Represents the weighted average price of multiple transactions with a range of prices between $47.01 and $47.27. The Reporting Person, upon request by the Commission 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.
- F2Each restricted stock unit ("RSU") represents a contingent right to receive one share of the Issuer's common stock.
- F3Represents additional RSUs awarded to the Reporting Person on account of dividend equivalent rights associated with previously awarded RSUs (the "Previous RSUs").
- F4These RSUs vest, and shares of the Issuer's common stock will be delivered to the Reporting Person, concurrently with Previous RSUs, subject to any election to defer delivery of shares made by the Reporting Person with respect to such Previous RSUs.
- F5The Stock Appreciation Rights became exercisable in four equal installments beginning on January 8, 2009.
- F6The Reporting Person received the Derivative Security pursuant to a stock appreciation right grant at no cost.
- F7The Stock Appreciation Rights became exercisable in four equal installments beginning on January 12, 2011.
- F8The Stock Appreciation Rights became exercisable in four equal installments beginning on January 10, 2013.