Form 4: Loews Corp Executive Benjamin J. Tisch Reports Stock Transactions
SEC Form 4 Filing
Benjamin J. Tisch, a Senior VP at Loews Corporation, reported the acquisition and disposal of Loews Corp common stock and stock appreciation rights on September 19, 2024.
Summary
- On September 19, 2024, Benjamin J. Tisch, a Senior VP at Loews Corporation, engaged in multiple transactions involving Loews Corp common stock and stock appreciation rights.
- Tisch acquired 3,750 shares of common stock at prices of $35.52, $38.46, $40.61, and $40.46 through the exercise of stock appreciation rights.
- He also disposed of 7,293 shares of common stock at a price of $79.75.
- Following these transactions, Tisch directly owns 356,675.8 shares of Loews Corp common stock and indirectly owns 348,970 shares through trusts.
- The stock appreciation rights, which became exercisable in equal quarterly installments beginning on January 9, 2016, allow Tisch to acquire common stock.
- The derivative securities were received at no cost as part of a stock appreciation right grant.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the document simply reports transactions without expressing any positive or negative outlook.
Industry Context
This filing is a routine disclosure of insider transactions, which are closely monitored by investors for signals about management's view of the company's prospects. It is typical for executives to have stock-based compensation and to periodically exercise options or sell shares.
Comparison to Industry Standards
- Executive compensation packages often include stock options and stock appreciation rights to align management's interests with those of shareholders.
- The frequency and size of insider transactions are comparable to those seen at other large corporations like Berkshire Hathaway or JPMorgan Chase, where executives regularly trade company stock.
Stakeholder Impact
- The transactions may have a minor impact on shareholders by slightly increasing the number of outstanding shares.
- The transactions do not directly impact employees, customers, suppliers, or creditors.
Key Dates
| Date | Description |
|---|---|
| 2016-01-09 | Stock Appreciation Rights became exercisable in equal quarterly installments beginning on this date. |
| 2024-09-19 | Date of the reported transactions involving common stock and stock appreciation rights. |
| 2024-09-20 | Date of signature on the Form 4 filing. |
| 2025-01-09 | Expiration date of the Stock Appreciation Rights. |
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