Loews Corp (NYSE: L) director reports SAR exercise and stock sales in Form 4

Rhea-AI Filing Summary

Loews Corporation director insider transaction and option exercise

A director of Loews Corporation reported several transactions in Loews common stock on 12/01/2025. The reporting person exercised a stock appreciation right covering 2,250 shares at an exercise price of $38.67 per share and acquired the corresponding common stock. On the same date, the director disposed of 808 shares at $107.87 per share and sold an additional 1,442 shares at $107.88 per share. After these transactions, the director beneficially owned 24,594 shares of Loews common stock directly. The filing notes that these transactions were made under a Rule 10b5-1 trading plan adopted on August 7, 2024.

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).

X

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^*

HARRIS WALTER L

(Last) (First) (Middle)

C/O LOEWS CORPORATION

9 WEST 57TH STREET

(Street)

NEW YORK NY 10019

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
LOEWS CORP [ L ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
12/01/2025

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	12/01/2025		M(1)		2,250	A	$38.67	26,844	D
Common Stock	12/01/2025		D(1)		808	D	$107.87	26,036	D
Common Stock	12/01/2025		S(1)		1,442	D	$107.88	24,594	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
Stock Appreciation Right	$38.67	12/01/2025		M(1)			2,250	12/31/2015	12/31/2025	Common Stock	2,250	$0(2)	0	D

Explanation of Responses:

1. The transactions reported in this Form 4 were pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on August 7, 2024.

2. The Reporting Person received the Derivative Security pursuant to a stock appreciation right grant at no cost.

Remarks:

	/s/ Thomas H. Watson by power of attorney for Walter L. Harris	12/02/2025
	** 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 type of SEC filing did Loews Corp (L) submit in this disclosure?

This disclosure is a Form 4, which reports changes in the beneficial ownership of Loews Corp equity securities by an insider, specifically a director of the company.

What insider transactions in Loews Corp (L) stock were reported on 12/01/2025?

The insider reported exercising a stock appreciation right for 2,250 shares at $38.67 per share, and disposing of 808 shares at $107.87 per share plus selling 1,442 shares at $107.88 per share on 12/01/2025.

How many Loews Corp (L) shares does the insider own after these transactions?

Following the reported transactions, the director beneficially owned 24,594 shares of Loews Corp common stock in direct ownership.

What derivative security did the Loews Corp (L) insider exercise?

The insider exercised a stock appreciation right with respect to 2,250 shares of Loews common stock at an exercise price of $38.67 per share, which had an expiration date of 12/31/2025.

Was a Rule 10b5-1 trading plan involved in the Loews Corp (L) insider transaction?

Yes. The filing states that the transactions were made pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on August 7, 2024.

Did the Loews Corp (L) insider pay for the stock appreciation right grant?

No. The disclosure explains that the insider received the derivative security through a stock appreciation right grant at no cost to the reporting person.