Schnitzer Alan D 4

4 · TRAVELERS COMPANIES, INC. · Filed Feb 5, 2026

AI-generated summary of this filing

Updated Feb 5, 2026

Travelers (TRV) CEO Alan Schnitzer Exercises Options, Sells Shares

What Happened

Alan D. Schnitzer, Chairman and CEO of Travelers Companies (TRV), exercised 216,246 option-derived shares on Feb 4, 2026 (exercise price $126.18/share; total exercise cost $27,285,920) and immediately disposed of the same 216,246 shares. The disposals consisted of 160,513 shares withheld/surrendered for exercise price/taxes and 55,733 shares sold in the open market. Gross proceeds from the sales were about $63.67M. This was a cashless exercise/sell-to-cover transaction rather than a buy.

Key Details

Transaction dates: award granted Feb 3, 2026; exercise and sales executed Feb 4, 2026; Form 4 filed Feb 5, 2026 (filed within required reporting window).
Exercise: 216,246 shares acquired at $126.18 = $27,285,920.
Withholding (tax/exercise payment): 160,513 shares disposed @ weighted avg ~$294.36 = $47,248,607 (footnote F1 clarifies price range).
Open-market sales: 26,509 shares @ ~$294.18 = $7,798,423 (F1/F2), 23,078 shares @ $295.00 = $6,808,012 (F2), 6,146 shares @ ~$295.82 = $1,818,081 (F3). Total sales proceeds ≈ $63,673,123.
Shares owned after transaction: not specified on the filing (footnote F4 states the Reporting Person disclaims beneficial ownership of certain securities).
Footnotes: F1–F3 explain weighted-average price ranges for the reported sale tranches; F4 disclaims beneficial ownership of the derivative award. Transaction codes: M = option exercise, F = payment of exercise price/tax withholding, S = open-market sale, A = grant/award.

Context

This is a common cashless exercise pattern: the insider exercised options and sold the shares immediately to cover the exercise price and tax withholding, plus additional open-market sales for proceeds. Such transactions are often part of normal compensation and tax withholding, and do not necessarily signal a change in sentiment about the company.

Form 4

Period: 2026-02-03

DirectorChairman and CEO

Transactions

Exercise/Conversion
Common Stock
2026-02-04$126.18/sh+216,246$27,285,920→ 476,575.401 total
Tax Payment
Common Stock
2026-02-04$294.36/sh−160,513$47,248,607→ 316,062.401 total
Sale
Common Stock
[F1]
2026-02-04$294.18/sh−26,509$7,798,423→ 289,553.401 total
Sale
Common Stock
[F2]
2026-02-04$295.00/sh−23,078$6,808,012→ 266,475.401 total
Sale
Common Stock
[F3]
2026-02-04$295.82/sh−6,146$1,818,081→ 260,329.401 total
Award
Stock Options (Right to Buy)
2026-02-03+88,389→ 88,389 total
Exercise: $288.23From: 2029-02-03Exp: 2036-02-03→ Common Stock (88,389 underlying)
Exercise/Conversion
Stock Options (Right to Buy)
2026-02-04−216,246→ 0 total
Exercise: $126.18From: 2022-02-05Exp: 2029-02-05→ Common Stock (216,246 underlying)

Holdings

Footnotes (4)

[F1]Represents the weighted average sales price for price increments ranging from $293.605 to $294.60. The Reporting Person undertakes to provide, upon request by the Securities and Exchange Commission staff, the Issuer or a security holder of the Issuer, full information regarding the number of shares sold at each separate price for all transactions reported on this Form 4.
[F2]Represents the weighted average sales price for price increments ranging from $294.605 to $295.60. The Reporting Person undertakes to provide, upon request by the Securities and Exchange Commission staff, the Issuer or a security holder of the Issuer, full information regarding the number of shares sold at each separate price for all transactions reported on this Form 4.
[F3]Represents the weighted average sales price for price increments ranging from $295.61 to $295.975. The Reporting Person undertakes to provide, upon request by the Securities and Exchange Commission staff, the Issuer or a security holder of the Issuer, full information regarding the number of shares sold at each separate price for all transactions reported on this Form 4.
[F4]The Reporting Person disclaims beneficial ownership of these securities.

Signature

/s/Wendy C. Skjerven, by power of attorney|2026-02-05

1 file