Travelers (TRV) legal chief exercises options and sells some shares
Rhea-AI Filing Summary
TRAVELERS COMPANIES, INC. Vice Chairman and Chief Legal Officer Avrohom J. Kess exercised stock options and disposed of some resulting shares. He exercised 27,686 stock options at an exercise price of $140.85 per share, receiving the same number of common shares.
Of these, 20,951 shares were used to satisfy tax obligations at an effective value of $309.03 per share, and 6,735 shares were sold in an open-market sale at $308.781 per share. After the transactions, he held 48,737.422 shares of Travelers common stock directly, indicating he retained a substantial equity position.
Positive
- None.
Negative
- None.
Insider Trade Summary
Exercise and sale activity reported; no spread calculated
Exercise and Sale
4 txns
Insider
Kess Avrohom J.
Role
Vice Chmn. & Chief Legal Off.
Sold
6,735 shs ($2.08M)
Approx. gross sale proceeds
$2.08M
Approx. exercise cost
$3.90M
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Options (Right to Buy) | 27,686 | $0.00 | $0.00 |
| Exercise | Common Stock | 27,686 | $140.85 | $3.90M |
| Exercise Price or Tax Liability | Common Stock | 20,951 | $309.03 | $6.47M |
| Sale | Common Stock | 6,735 | $308.781 | $2.08M |
Holdings After Transaction:
Stock Options (Right to Buy) — 0 shares (Direct);
Common Stock — 48,737.422 shares (Direct)
Key Figures
Options exercised: 27,686 shares
Exercise price: $140.85/share
Tax-withholding shares: 20,951 shares
+3 more
6 metrics
Options exercised
27,686 shares
Stock options converted into common stock at $140.85 per share
Exercise price
$140.85/share
Exercise price for 27,686 stock options on common stock
Tax-withholding shares
20,951 shares
Shares delivered for tax obligations at $309.03 per share
Open-market sale
6,735 shares
Common stock sold at $308.781 per share
Post-transaction holdings
48,737.422 shares
Direct common stock owned after all reported transactions
Tax-withholding price
$309.03/share
Implied value for shares used to satisfy tax liability
Key Terms
open-market sale, tax-withholding disposition, derivative exercise/conversion, Stock Options (Right to Buy)
4 terms
open-market sale financial
"transaction_action: open-market sale of 6,735 common shares"
An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.
tax-withholding disposition financial
"transaction_action: tax-withholding disposition of 20,951 shares"
A tax-withholding disposition is an event or transaction—such as selling or transferring securities, exercising options, or receiving compensation—that triggers a requirement to hold back part of the payment and remit it to tax authorities. It matters to investors because it reduces the cash they receive immediately and can change the timing and amount of taxable income, like a cashier taking a portion of your sale proceeds to pay taxes before you get the rest.
derivative exercise/conversion financial
"transaction_action: derivative exercise/conversion of 27,686 shares"
Stock Options (Right to Buy) financial
"security_title: Stock Options (Right to Buy) with 27,686 shares"
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What did TRV executive Avrohom J. Kess do in this Form 4 filing?
Avrohom J. Kess exercised stock options and disposed of some resulting shares. He acquired 27,686 common shares through option exercises, then used 20,951 shares for taxes and sold 6,735 shares, while retaining a significant remaining stake in Travelers common stock.
At what price did Avrohom J. Kess exercise his Travelers (TRV) stock options?
He exercised 27,686 stock options at an exercise price of $140.85 per share. These options were labeled as “Stock Options (Right to Buy)” and converted into an equal number of Travelers common shares as part of the reported transactions.
What overall pattern do the TRV Form 4 transactions by Kess show?
The transactions show a typical exercise-and-dispose pattern. Kess exercised 27,686 options, used 20,951 of the resulting shares to pay taxes, and sold 6,735 shares, while continuing to own tens of thousands of Travelers common shares directly afterward.