Company: L
Filing Date: 2025-02-18
Form Type: 8-K
Source: 0000060086-25-000052
Chunk: 1

Company: LOEWS CORP
Filing Date: 2025-02-18
Form: 8-K
Item: Item 5.02
Chunk 1
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 to the applicable exercise prices, and the executives must remain employed by the Corporation (except as described in the following paragraph). Approximately 22% of the SARs are exercisable if the Corporation’s common stock reaches $100 per share during the exercise period, an additional approximately 33% of the SARs are exercisable if the Corporation’s common stock reaches $150 per share during the exercise period and an additional approximately 45% of the SARs are exercisable if the Corporation’s common stock reaches $200 per share during the exercise period.

The SARs will be automatically forfeited upon a termination of service, other than in the case of death or disability, a termination by the Corporation without cause or a termination by the executive for good reason (in each case as defined in the applicable award terms). In the case of a termination due to death or disability, the SARs will expire on the earlier of the third anniversary of termination and the expiration of the 10-year term. In the case of a termination by the Corporation without cause or a termination by the executive for good reason, the SARs will expire on the earlier of the second anniversary of termination and the expiration of the 10-year term.

The grant date fair value of the SARs awards are $4,093,500 for each of Messrs. Benjamin and Alexander Tisch and $3,070,125 for Ms. Wang.

Payments made in respect of any exercised SARs will be made in shares of the Corporation’s common stock, unless the Corporation elects to make any such payments in cash.

The SARs and any stock delivered or cash paid upon the exercise of the SARs will be subject to clawback pursuant to the Corporation’s executive incentive compensation clawback policy or as required by applicable law.

In granting the awards, the Committee considered that the awards would provide significant incentives to create shareholder value and help further motivate and retain the executives.

The description of the awards as summarized above is qualified in its entirety by reference to the copy of the form of SAR award notice, which is attached as Exhibit 10.01 to this Current Report on Form 8-K and incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.