SEC Form 4 · accession 0001140361-18-007329
LOEWS CORP · L
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Marc A Alpert
Officer — Sr. VP, Gen. Coun. & Secy.
Period of report
Feb 11, 2018
Accepted (ET)
Feb 13, 2018 · 6:06 pm EST
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,F3 | — | Feb 12, 2018 | A | 15,388 | A | — | — | Common Stock | 15,388 | 15,388 | D |
Explanation of responses
- F1Each RSU represents a contingent right to receive one share of the Issuer's common stock.
- F215,308 RSUs were awarded to the Reporting Person on February 13, 2017 subject to the Issuer achieving a pre-determined target level of performance based income ("PBI Metric") for 2017. 79.88 additional RSUs were awarded to the Reporting Person (subject to the same condition as the underlying RSUs) on account of dividend equivalent rights associated with these RSUs in connection with the Issuer's payment of dividends on its common stock after the grant date for the underlying RSUs (such additional RSUs, together with the underlying RSUs, the "2017 RSUs"). The Compensation Committee of the Issuer's board of directors determined that the Issuer achieved the PBI Metric on February 12, 2018.
- F350% of the 2017 RSUs vest on February 13, 2019 and 50% vest on February 13, 2020. 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.