[Form 4] CNA FINANCIAL CORP Insider Trading Activity

Rhea-AI Filing Summary

CNA Financial Corp executive vice president and chief actuary Robert Joseph Hopper reported compensation-related stock activity. He was granted 19,888 shares of common stock under the Performance Share Plan for the 2025 performance cycle, which will cliff vest on March 15, 2028, subject to continued employment and award terms. The shares were received at no cost. To satisfy tax withholding obligations, 12,758 shares of common stock were withheld at $47.03 per share. After these transactions, Hopper directly holds 85,808 shares of CNA common stock.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Hopper Robert Joseph

Role EVP & Chief Actuary

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	19,888	$0.00	--
Tax Withholding	Common Stock	12,758	$47.03	$600K

Holdings After Transaction: Common Stock — 98,566 shares (Direct)

Footnotes (1)

1. The Company's Incentive Compensation Plan (as amended and restated as of January 1, 2020) provides for the issuance of CNA Financial Corporation's common stock under the Performance Share Plan (PSP) awards based upon achievement of predetermined financial goals for the 2025 performance cycle. 19,888 PSP shares were achieved and will cliff vest on March 15, 2028. No performance share unit shall vest on such vesting date unless the reporting person has been continuously employed by CNA Financial Corporation from the grant date until such vesting date except as otherwise specified in award terms and employment agreement, if any. The Reporting Person received the CNAF shares at no cost. The Company's Incentive Compensation Plan (as amended and restated as of January 1, 2020) permits the withholding of shares of common stock to satisfy tax withholding obligations of the participants.

Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Hopper Robert Joseph

(Last) (First) (Middle)

151 N. FRANKLIN ST.

(Street)

CHICAGO IL 60606

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
CNA FINANCIAL CORP [ CNA ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP & Chief Actuary

3. Date of Earliest Transaction (Month/Day/Year)
03/15/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	03/15/2026		A		19,888(1)	A	$0(2)	98,566	D
Common Stock	03/15/2026		F(3)		12,758	D	$47.03	85,808	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. The Company's Incentive Compensation Plan (as amended and restated as of January 1, 2020) provides for the issuance of CNA Financial Corporation's common stock under the Performance Share Plan (PSP) awards based upon achievement of predetermined financial goals for the 2025 performance cycle. 19,888 PSP shares were achieved and will cliff vest on March 15, 2028. No performance share unit shall vest on such vesting date unless the reporting person has been continuously employed by CNA Financial Corporation from the grant date until such vesting date except as otherwise specified in award terms and employment agreement, if any.

2. The Reporting Person received the CNAF shares at no cost.

3. The Company's Incentive Compensation Plan (as amended and restated as of January 1, 2020) permits the withholding of shares of common stock to satisfy tax withholding obligations of the participants.

Remarks:

	Stathy Darcy by Power of Attorney for Robert J. Hopper	03/17/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What insider transaction did CNA (CNA) report for Robert Joseph Hopper?

CNA reported that EVP and chief actuary Robert Joseph Hopper received a grant of 19,888 shares of common stock under its Performance Share Plan, and 12,758 shares were withheld to cover tax obligations, leaving him with 85,808 directly held shares after the transactions.

Were the CNA (CNA) shares granted to Robert Hopper an open-market purchase?

No, the 19,888 CNA shares were a compensation grant under the company’s Performance Share Plan for the 2025 cycle. Footnotes state he received the shares at no cost, and they represent an award rather than an open-market purchase or sale transaction.

When do Robert Hopper’s 19,888 CNA (CNA) performance shares vest?

The 19,888 performance share award is scheduled to cliff vest on March 15, 2028. Vesting requires Hopper to remain continuously employed by CNA Financial from the grant date through that vesting date, subject to any specific award terms or employment agreement provisions.

Why were 12,758 CNA (CNA) shares disposed of in Robert Hopper’s Form 4?

The 12,758-share disposition reflects tax withholding, not a market sale. CNA’s incentive plan permits withholding shares to satisfy participants’ tax obligations, and these shares were withheld at a price of $47.03 per share to cover Hopper’s tax liability on the stock award.

How many CNA (CNA) shares does Robert Hopper hold after this Form 4?

After the reported grant and tax withholding, Robert Hopper directly holds 85,808 shares of CNA common stock. This total reflects the net position shown in the Form 4 following the award of 19,888 shares and the withholding of 12,758 shares for tax obligations.

What plan governs Robert Hopper’s CNA (CNA) performance share award?

The award is issued under CNA Financial’s Incentive Compensation Plan, as amended and restated effective January 1, 2020. Performance Share Plan awards for the 2025 cycle pay out in CNA common stock based on predetermined financial goals and then cliff vest on March 15, 2028.