Company: L
Filing Date: 2025-04-02
Form Type: DEF 14A
Source: 0001140361-25-011755
Chunk: 34

Company: LOEWS CORP
Filing Date: 2025-04-02
Form: DEF 14A
Chunk 34
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, the peer group consists of the following companies: Berry Global, Inc., Chubb Limited, Diamond Rock Hospitality Company, Enbridge Inc., Energy Transfer LP, Kinder Morgan, Inc., Ryman Hospitality Properties, Inc., Silgan Holdings Inc., Sunstone Hotel Investors, Inc., The Hartford Financial Services Group, Inc., The Travelers Companies, Inc., W.R. Berkley Corporation and Xenia Hotels & Resorts, Inc. |

| (5) | Performance-based incomeis defined in our Incentive Compensation Plan as our consolidated net income as adjusted by the Compensation Committee under the terms of our Incentive Compensation Plan. More information about performance-based income, including a description of the adjustments to net income made by the Compensation Committee to determine performance-based income, is provided under “Compensation Program Structure and Process” beginning on page26. |

DISCUSSION OF PAY VERSUS PERFORMANCE TABLE The following graphs show the relationships between compensation actually paid to the PEO and the average compensation actually paid to the non-PEO NEOs and certain performance metrics during the years covered by the Pay Versus Performance Table.

| Loews Corporation2025 Proxy Statement |     | 45 |

TABLE OF CONTENTS Executive Compensation Tables

The following table shows the financial performance measures we use to link compensation actually paid to our named executive officers to our performance.

| Financial Performance Measures     |
| Performance-Based Income           |
| Performance-Based Income per Share |

CEO Pay Ratio Under SEC rules established pursuant to the Dodd-Frank Act, we are required to disclose the ratio of pay of our Chief Executive Officer to that of our median employee, as defined under those rules, excluding our Chief Executive Officer. We identified the median employee used for our 2022 pay ratio disclosures using a determination date of December 31, 2022. Under SEC rules, our employee population as of that date included approximately 17,575 employees from Loews Corporation and our consolidated subsidiaries — CNA, Boardwalk Pipelines and Loews Hotels. We identified the median employee from this population using a compensation measure that incorporated base salary, overtime and any bonuses paid for 2022. For employees hired during 2022, their compensation was annualized to reflect a full year of wages. International employees’ pay was converted to US dollar equivalents using the average of the exchange rates from January 1, 2022 and December 31, 2022. We believe there have been no changes in our employee population or employee compensation arrangements since the date that employee was identified that would significantly impact our