Company: L
Filing Date: 2025-04-02
Form Type: DEF 14A
Source: 0001140361-25-011755
Chunk: 23

Company: LOEWS CORP
Filing Date: 2025-04-02
Form: DEF 14A
Chunk 23
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4 executive compensation program or metrics after they were established in the first quarter of 2024. In addition to the specific factors discussed below, the Compensation Committee considered:

| ▪ | its compensation philosophy in favor of fair and generally consistent pay levels and against excessive or unreasonable compensation levels; |

| ▪ | an emphasis on consistent, long-term, superior performance by the individual; |

| ▪ | its evaluation of the performance of each named executive officer based on direct observation, since each named executive officer regularly reports to the Board on the operations of the company and its subsidiaries; and |

| ▪ | for each named executive officer other than the Chief Executive Officer, executive sessions with the Chief Executive Officer in which each named executive officer’s performance is reviewed and evaluated. |

These factors were not weighted and there is no formula for how these factors were applied in determining cash incentive compensation awards.

| Loews Corporation2025 Proxy Statement |     | 33 |

TABLE OF CONTENTS Executive Compensation

| Chief Executive Officer                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
| In making its determination regarding the grant and payment of an incentive compensation award for 2024 to our Chief Executive Officer, James S. Tisch, the Compensation Committee considered, among other things, the overall performance of the company and its principal subsidiaries, its compensation philosophy against excessive or unreasonable compensation levels, its emphasis on consistent, long-term, superior performance by the individual and the level of inflation.                                                                                                                                                                                             |
| Based on these considerations, at the beginning of 2024, the Compensation Committee increased Mr. Tisch’s target and maximum cash incentive compensation levels by approximately 6.7% and 9.1%, respectively, from the prior year (which at target level represents an approximately 4.7% increase in total compensation from the prior year). The Committee also retained negative discretion to reduce any award to what it determines is a reasonable level under the circumstances.                                                                                                                                                                                            |
| The Compensation Committee evaluated Mr. Tisch’s performance in 2024 and during recent years, considering the overall state of the markets in which Loews and its subsidiaries operate and the financial markets generally. This is consistent with the Committee’s philosophy of evaluating performance over the longer term to encourage and reward long-term value creation and to discourage unreasonable risk-taking. The Committee considered Mr. Tisch’s ability to demonstrate leadership and maintain stability at Loews and our subsidiaries, and to prudently allocate the company’s capital to take advantage of market opportunities and protect against known risks. |
| The Compensation Committee noted the following