0001567619-22-004407.txt : 20220214 0001567619-22-004407.hdr.sgml : 20220214 20220214163956 ACCESSION NUMBER: 0001567619-22-004407 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20220210 FILED AS OF DATE: 20220214 DATE AS OF CHANGE: 20220214 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: 22633394 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 2022-02-10 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 2022-02-10 4 M 0 6691 0 A 40591.8 D Common Stock 2022-02-10 4 F 0 2413 61.58 D 38178.8 D Common Stock 2022-02-11 4 M 0 7414 0 A 45592.8 D Common Stock 2022-02-11 4 F 0 2673 62.10 D 42919.8 D Restricted Stock Units 2022-02-10 4 M 0 6691 0 D Common Stock 6691 6691 D Restricted Stock Units 2022-02-11 4 M 0 7414 0 D Common Stock 7414 0 D Represents the conversion upon vesting of restricted stock units ("RSUs") into common stock. On February 10, 2020, the Reporting Person was awarded 13,382 RSUs, subject to the Issuer achieving a pre-determined level of performance based income ("PBI Metric") for 2020. The Issuer's Compensation Committee determined that the Issuer achieved the PBI Metric on February 8, 2021 and the 2020 RSUs were then reported on a Form 4 filed with the Securities and Exchange Commission (the "SEC"). 50% of these RSUs vested on February 10, 2022. The remaining 2020 RSUs will vest on February 10, 2023. 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 2,413 shares of common stock that vested in respect of the 2020 RSUs on February 10, 2022 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 11, 2019, the Reporting Person was awarded 14,827 RSUs, subject to the Issuer achieving a 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 SEC. 50% of these RSUs previously vested on February 11, 2021. The remaining 2019 RSUs vested on February 11, 2022. The Reporting Person is reporting the withholding, by the Issuer, of 2,673 shares of common stock that vested in respect of the 2019 RSUs on February 11, 2022 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 2022-02-14