Company: L
Filing Date: 2025-04-02
Form Type: DEF 14A
Source: 0001140361-25-011755
Chunk: 24

Company: LOEWS CORP
Filing Date: 2025-04-02
Form: DEF 14A
Chunk 24
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| Consistent with the Compensation Committee’s determination for our Chief Executive Officer, the target and maximum awards for Richard Scott and Kenneth Siegel were similarly increased. Jane Wang received larger increases in her target and maximum award levels after another successful year as Chief Financial Officer in accordance with a multiyear strategy to increase Ms. Wang’s compensation as a result of her increasing responsibilities. Jonathan Tisch’s target and maximum award levels were unchanged from the prior year. |
| In making its determination regarding the amount of these awards earned by these executives, the Committee considered many of the same factors described above that it considered for our Chief Executive Officer. Based on its evaluation of each executive’s performance, including the input and recommendation of the Chief Executive Officer, the Committee, in the first quarter of 2025, awarded each of these other named executive officers incentive compensation equal to their target amount for 2024.                            |
| Incentive Compensation Determination:These incentive compensation awards amounted to approximately 27.4% of the total amount available in the performance bonus pool for the other named executive officers and are consistent with the Committee’s philosophy in favor of rewarding consistent, long-term superior performance, but against excessive or unreasonable compensation.                                                                                                                                                          |

PERFORMANCE-BASED STOCK-BASED AWARDS In making its determinations regarding the award of PRSUs in 2024 to our named executive officers, the Compensation Committee considered the same factors described above on page 27under “Cash Incentive Compensation Awards” as well as the level of stock-based awards previously awarded to these individuals. These factors are not weighted and there is no formula for how these factors were applied in determining the number of PRSUs granted.

| PRSU Determination:Based on all factors reviewed, in the first quarter of 2024, the Committee awarded 13,689 PRSUs, representing a grant date fair value of $1,000,000, to each of James and Jonathan Tisch, and 10,951 PRSUs, representing a grant date fair value of $800,000, to each of Richard Scott, Kenneth Siegel and Jane Wang. The grant date fair value of PRSU awards for 2024 for each of these executives was the same as the prior year. For 2024, performance-based income amounted to $8.46 per share, resulting in 100% of these PRSUs being earned by each of our named executive officers in the first quarter of 2025; however, these PRSUs still remain subject to