[Form 4] CNA FINANCIAL CORP Insider Trading Activity

Rhea-AI Filing Summary

Dino E. Robusto, Executive Chairman and Director of CNA Financial Corp (CNA), reported a sale of 6,250 shares of CNA common stock on 10/01/2025 at a price of $46.25 per share. The filing states the sale was executed under a trading plan adopted on 11/15/2024 to satisfy the affirmative defense of Rule 10b5-1(c). After the reported transaction, the amount of common stock beneficially owned is listed as 680,588.061 shares, held directly. The Form 4 was signed by Stathy Darcy by power of attorney for Dino E. Robusto.

Positive

• Transaction executed under a 10b5-1 plan, indicating a pre-authorized, rule-compliant disposition
• Substantial remaining direct ownership of 680,588.061 shares after the sale

Negative

• Insider disposed of 6,250 shares, reducing direct holdings by that amount
• Sale price $46.25 realized on 10/01/2025 (represents cash proceeds from the disposition)

Insights

Corporate Governance Expert

TL;DR: A director sold shares through a pre-established 10b5-1 plan, indicating a rule-compliant disposition rather than an ad hoc trade.

The Form 4 discloses a planned sale of 6,250 shares executed on 10/01/2025 under a trading plan adopted 11/15/2024 to satisfy the affirmative defense of Rule 10b5-1(c). Use of a 10b5-1 plan is a standard governance mechanism that helps insulate insiders from accusations of trading on undisclosed information, provided the plan was established when the insider was not aware of material nonpublic information. The filing also shows continued substantial direct ownership of 680,588.061 shares, preserving ongoing alignment with shareholders.

Securities Analyst

TL;DR: The reported sale is a routine insider disposition under a 10b5-1 plan and is neutral absent additional context.

The transaction reports a disposition of 6,250 shares at $46.25 on 10/01/2025. The filing explicitly states the sale was made under a trading plan adopted 11/15/2024. Without further financial metrics or additional transactions disclosed, this single planned sale does not by itself imply a material change in insider alignment, given the post-transaction reported beneficial ownership of 680,588.061 shares.

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).

1. Name and Address of Reporting Person^*

Robusto Dino

(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)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Executive Chairman

3. Date of Earliest Transaction (Month/Day/Year)
10/01/2025

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	10/01/2025		S		6,250(1)	D	$46.25	680,588.061	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. This transaction was made pursuant to a trading plan adopted November 15, 2024, intended to satisfy the affirmative defense of Rule 10b5-1(c) under the Securities Exchange Act of 1934.

Remarks:

	/s/ Stathy Darcy by Power of Attorney for Dino E. Robusto	10/01/2025
	** 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 transaction did Dino E. Robusto report on Form 4 for CNA (CNA)?

The Form 4 reports a sale of 6,250 shares of CNA common stock executed on 10/01/2025.

At what price were the CNA shares sold in the reported transaction?

The shares were sold at a price of $46.25 per share.

Was the sale part of a trading plan or an ad hoc transaction?

The filing states the sale was made pursuant to a trading plan adopted on 11/15/2024 to satisfy the affirmative defense of Rule 10b5-1(c).

How many CNA shares did Dino E. Robusto beneficially own after the reported sale?

After the transaction the filing lists beneficial ownership of 680,588.061 shares, held directly.

Who signed the Form 4 on behalf of Dino E. Robusto?

The Form 4 was signed by Stathy Darcy by power of attorney for Dino E. Robusto on 10/01/2025.