Company: L
Filing Date: 2025-04-02
Form Type: DEF 14A
Source: 0001140361-25-011755
Chunk: 40

Company: LOEWS CORP
Filing Date: 2025-04-02
Form: DEF 14A
Chunk 40
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2025 Plan includes several features designed to protect shareholder interests and appropriately reflect our compensation philosophy and practices, including:

| ▪ | No “Evergreen” Provision.The 2025 Plan does not provide for an automatic increase in the number of shares available under the plan. |

| ▪ | No Single-Trigger Acceleration of Awards upon a Change in Control.Awards under the 2025 Plan will not accelerate solely based upon the occurrence of a change in control. |

| ▪ | No Repricing.The 2025 Plan prohibits reducing the exercise price or base price of a stock option or SAR once granted, and replacing a stock option or SAR with an award that has a lower exercise price or base price, another type of award or cash payment, in each case, without shareholder approval. |

| ▪ | No Below Market Grants.The 2025 Plan provides that the exercise price and base price of options and SARs must be at least 100% of the fair market value of a share of our Common Stock on the grant date of the award. |

| ▪ | Clawback.Awards under the 2025 Plan are subject to clawback under our clawback policy and applicable law. |

| Loews Corporation2025 Proxy Statement |     | 51 |

TABLE OF CONTENTS Proposal No. 4: Approval of the Loews Corporation 2025 Incentive Compensation Plan

| ▪ | No Liberal Share Recycling.Shares of Common Stock used to satisfy taxes for an award or to pay the exercise price of an option will not be available for future awards under the 2025 Plan. |

| ▪ | Limits on Awards to Non-Employee Directors.The aggregate grant date value of awards granted to non-employee directors under the 2025 Plan in any fiscal year may not exceed $500,000. |

PURPOSE The purpose of the 2025 Plan is to attract, motivate and retain employees, non-employee directors and independent contractors of the Company and its subsidiaries and affiliates, compensate them for their contributions and encourage them to acquire shares of our Common Stock in order to align their interests with those of our shareholders. AVAILABLE SHARES The maximum number of shares of our Common Stock available for issuance under the 2025 Plan is equal to the sum of 6,000,000 plus the number of shares that are forfeited under our 2016 Plan (including as a result of the termination or expiration prior to the exercise or vesting of any awards thereunder) subsequent to the Effective Date, subject to