0001567619-21-003786.txt : 20210216
0001567619-21-003786.hdr.sgml : 20210216
20210216100047
ACCESSION NUMBER: 0001567619-21-003786
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20210211
FILED AS OF DATE: 20210216
DATE AS OF CHANGE: 20210216
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: Alpert Marc A
CENTRAL INDEX KEY: 0001680117
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-06541
FILM NUMBER: 21633722
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
2021-02-11
0
0000060086
LOEWS CORP
L
0001680117
Alpert Marc A
667 MADISON AVENUE
NEW YORK
NY
10065
0
1
0
0
Sr. VP, Gen. Coun. & Secy.
Common Stock
2021-02-11
4
M
0
7413
0
A
7413
D
Common Stock
2021-02-11
4
F
0
3946
47.99
D
3467
D
Common Stock
2021-02-12
4
M
0
7539
0
A
11006
D
Common Stock
2021-02-12
4
F
0
4013
48.22
D
6993
D
Restricted Stock Units
2021-02-11
4
M
0
7413
0
D
Common Stock
7413
7414
D
Restricted Stock Units
2021-02-12
4
M
0
7539
0
D
Common Stock
7539
0
D
Represents the conversion upon vesting of restricted stock units ("RSUs") into common stock. On February 11, 2019, the Reporting Person was awarded 14,827 RSUs, subject to the Issuer achieving a pre-determined level of performance based income ("PBI Metric") for 2019. The Issuer's Compensation Committee determined that the Issuer achieved the PBI Metric on February 10, 2020 and the 2019 RSUs were then reported on a Form 4 filed with the Securities and Exchange Commission (the "SEC"). 50% of these RSUs vested on February 11, 2021. The remaining 2019 RSUs will vest on February 11, 2022. 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 3,946 shares of common stock that vested in respect of the 2019 RSUs on February 11, 2021 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 12, 2018, the Reporting Person was awarded 15,001 RSUs, subject to the Issuer achieving a 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 SEC. 50% of these RSUs (along with additional RSUs awarded to the reporting Person on account of dividend equivalent rights) previously vested on February 12, 2020. The remaining 2018 RSUs vested on February 12, 2021.
The Reporting Person is reporting the withholding, by the Issuer, of 4,013 shares of common stock that vested in respect of the 2018 RSUs on February 12, 2021 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 Marc A. Alpert
2021-02-16