Company: L
Filing Date: 2025-04-02
Form Type: DEF 14A
Source: 0001140361-25-011755
Chunk: 15

Company: LOEWS CORP
Filing Date: 2025-04-02
Form: DEF 14A
Chunk 15
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 executive talent. |

We believe in recognizing the performance of our executive officers primarily through a combination of cash compensation, made up of a fixed base salary and incentive compensation, and stock-based compensation, which, in 2024, consisted of performance-based restricted stock units. Because cash incentive compensation and our restricted stock unit awards are tied to performance, a large majority of the compensation paid to our executive officers is performance-based and, other than their fixed base salaries, no compensation is guaranteed. HOW WE STRUCTURE OUR EXECUTIVE COMPENSATION PROGRAM We structure our executive compensation to avoid the possibility of excessive compensation in any given year, including through:

| ▪ | the Compensation Committee’s ability to exercise negative discretion in determining cash incentive compensation; |

| ▪ | setting what we believe to be reasonable, but achievable, performance targets for both cash incentive compensation and stock-based awards; and |

| ▪ | generally not paying cash incentive compensation in excess of pre-established target levels set by the Compensation Committee. |

We believe this structure provides ample motivation for our executive officers to maximize their performance and focus on the long-term success of the company, while deterring unreasonable risk taking with an eye toward short-term results. The fixed base salary for our named executive officers has generally comprised substantially less than half of their total potential cash compensation, with the balance coming from our performance-based Incentive Compensation Plan. In setting potential awards under that plan, our Compensation Committee sets what it believes are reasonable, but achievable, target levels, but reserves broad discretion to reduce or eliminate incentive compensation. The Compensation Committee also establishes maximum award levels that will not be exceeded.

| 24 |     | Loews Corporation2025 Proxy Statement |

TABLE OF CONTENTS Executive Compensation

In selecting and allocating the elements of our executive compensation program, we have considered, among other things, our historical compensation policies as they have evolved over the years and benchmarking information regarding executive compensation paid by comparably sized companies engaged in businesses similar to ours and our principal subsidiaries as well as others with which we compete for talent in the New York City marketplace. To assist in gathering this information and benchmarking our executive compensation practices against the practices at these companies, our human resources group engaged the compensation consultant, Semler Brossy. OUR GOAL IS TO INCREASE SHAREHOLDER VALUE OVER THE LONG TERM Our compensation program is intended to align the interests of our senior executives with those of our shareholders. Our goal is to increase shareholder value over the long term and to reasonably reward superior performance that supports that goal. In establishing the