0001567619-20-003584.txt : 20200214
0001567619-20-003584.hdr.sgml : 20200214
20200214103613
ACCESSION NUMBER: 0001567619-20-003584
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20200212
FILED AS OF DATE: 20200214
DATE AS OF CHANGE: 20200214
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: SCOTT RICHARD WALDO
CENTRAL INDEX KEY: 0001238752
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-06541
FILM NUMBER: 20615327
MAIL ADDRESS:
STREET 1: 667 MADISON AVENUE
CITY: NEW YORK
STATE: NY
ZIP: 10065
ISSUER:
COMPANY DATA:
COMPANY CONFORMED NAME: LOEWS CORP
CENTRAL INDEX KEY: 0000060086
STANDARD INDUSTRIAL CLASSIFICATION: FIRE, MARINE & CASUALTY INSURANCE [6331]
IRS NUMBER: 132646102
STATE OF INCORPORATION: DE
FISCAL YEAR END: 1231
BUSINESS ADDRESS:
STREET 1: 667 MADISON AVE
CITY: NEW YORK
STATE: NY
ZIP: 10065-8087
BUSINESS PHONE: 212-521-2000
MAIL ADDRESS:
STREET 1: 667 MADISON AVE
CITY: NEW YORK
STATE: NY
ZIP: 10065-8087
4
1
doc1.xml
FORM 4
X0306
4
2020-02-12
0
0000060086
LOEWS CORP
L
0001238752
SCOTT RICHARD WALDO
667 MADISON AVENUE
NEW YORK
NY
10065-8087
0
1
0
0
SVP & Chief Investment Officer
Common Stock
2020-02-12
4
M
0
7538
0
A
26019.8
D
Common Stock
2020-02-12
4
F
0
3692
54.72
D
22327.8
D
Common Stock
2020-02-13
4
M
0
7733
0
A
30060.8
D
Common Stock
2020-02-13
4
F
0
3788
53.93
D
26272.8
D
Restricted Stock Units
2020-02-12
4
M
0
7538
0
D
Common Stock
7538
7538
D
Restricted Stock Units
2020-02-13
4
M
0
7733
0
D
Common Stock
7733
0
D
Represents the conversion upon vesting of restricted stock units ("RSUs") into common stock. On February 12, 2018, the Reporting Person was awarded 15,001 RSUs, subject to the Issuer achieving a pre-determined level of performance based income ("PBI Metric") for 2018. The Issuer's Compensation Committee determined that the Issuer achieved the PBI Metric on February 11, 2019 and the 2018 RSUs were then reported on a Form 4 filed with the Securities and Exchange Commission (the "SEC"). 50% of these RSUs (along with additional RSUs awarded to the Reporting Person on account of dividend equivalent rights) vested on February 12, 2020. The remaining 2018 RSUs will vest on February 12, 2021. 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.
The Reporting Person is reporting the withholding, by the Issuer, of 3,692 shares of common stock that vested in respect of the 2018 RSUs on February 12, 2020 but were not issued in order to satisfy the Reporting Person's tax withholding obligations in connection therewith.
Represents the conversion upon vesting of RSUs into common stock. On February 13, 2017, the Reporting Person was awarded 15,308 RSUs, subject to the Issuer achieving a pre-determined level of performance based income ("PBI Metric") for 2017. The Issuer's Compensation Committee determined that the Issuer achieved the PBI Metric on February 12, 2018 and the 2017 RSUs were then reported on a Form 4 filed with the SEC. 50% of these RSUs (along with additional RSUs awarded to the Reporting Person on account of dividend equivalent rights) previously vested on February 13, 2019. The remaining 2017 RSUs vested on February 13, 2020.
The Reporting Person is reporting the withholding, by the Issuer, of 3,788 shares of common stock that vested in respect of the 2017 RSUs on February 13, 2020 but were not issued in order to satisfy the Reporting Person's tax withholding obligations in connection therewith.
Each RSU represents a contingent right to receive one share of the Issuer's common stock.
/s/ Thomas H. Watson, by power of attorney for Richard W. Scott
2020-02-14