Travelers CFO exercises 25,000 options; holds 26,931.82 shares

Rhea-AI Filing Summary

The Travelers Companies (TRV) EVP & CFO reported an option exercise and share sale. On 11/06/2025, the officer exercised 25,000 stock options at $139.83 per share and sold 25,000 common shares at a weighted average price of $278.2502.

Following these transactions, the officer beneficially owned 26,931.82 shares directly. Derivative holdings included 11,037 stock options remaining. The sales price reflects multiple trades within the $278.25 to $278.252 range.

Insider Trade Summary

Exercise and Sale: 25,000 shares ($3.46M approx. pre-tax spread)

Exercise and Sale 3 txns

Insider Frey Daniel S.

Role EVP & Chief Financial Officer

Sold 25,000 shs ($6.96M)

Approx. gross sale proceeds $6.96M

Approx. exercise cost $3.50M

Approx. pre-tax spread $3.46M

Type	Security	Shares	Price	Value
Exercise	Stock Options (Right to Buy)	25,000	$0.00	$0.00
Exercise	Common Stock	25,000	$139.83	$3.50M
Sale	Common Stock	25,000	$278.2502	$6.96M

Holdings After Transaction: Stock Options (Right to Buy) — 11,037 shares (Direct); Common Stock — 26,931.82 shares (Direct)

Footnotes (1)

1. F1. Represents the weighted average sales price for increments ranging from $278.25 to $278.252. The Reporting Person undertakes to provide upon request by the Securities and Exchange Commission Staff, the Issuer or a security holder of the Issuer, full information regarding the number of shares sold at each separate price.

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Form 4 Insider Transactions: What Each Field Means →

Accepted by SEC EDGAR 11/07/2025 - 04:03 PM Learn about SEC filing dates

FAQ

What did TRV’s CFO report on Form 4?

An exercise of 25,000 stock options at $139.83 and the sale of 25,000 common shares at a weighted average price of $278.2502 on 11/06/2025.

How many TRV shares does the CFO hold after the transactions?

Beneficial ownership was 26,931.82 shares following the reported transactions.

What was the exercise price of the options?

The stock options were exercised at $139.83 per share.

What prices were the shares sold at?

The weighted average sales price was $278.2502, with trades ranging from $278.25 to $278.252.

How many derivative securities remain after the transactions?

The officer held 11,037 stock options following the transactions.

What is the officer’s role at The Travelers Companies (TRV)?

The reporting person is the EVP & Chief Financial Officer.

When did the transactions occur?

Both the option exercise and the share sale occurred on 11/06/2025.

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^*

Frey Daniel S.

(Last) (First) (Middle)

THE TRAVELERS COMPANIES, INC.

385 WASHINGTON STREET

(Street)

ST. PAUL MN 55102

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
TRAVELERS COMPANIES, INC. [ TRV ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
11/06/2025

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	11/06/2025		M		25,000	A	$139.83	51,931.82	D
Common Stock	11/06/2025		S		25,000	D	$278.2502(1)	26,931.82	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 Options (Right to Buy)	$139.83	11/06/2025		M			25,000	02/02/2024	02/02/2031	Common Stock	25,000	$0	11,037	D

Explanation of Responses:

1. Represents the weighted average sales price for increments ranging from $278.25 to $278.252. The Reporting Person undertakes to provide upon request by the Securities and Exchange Commission Staff, the Issuer or a security holder of the Issuer, full information regarding the number of shares sold at each separate price.

	/s/ Wendy C. Skjerven, by power of attorney	11/07/2025
	** 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.