OLIVO MARIA 4

What Happened
Maria Olivo, EVP, ERM & Chief Risk Officer at Travelers (TRV), exercised options to acquire 10,400 shares at a strike of $118.78 (cost $1,235,312) on 2026-02-06, then sold 10,400 shares in an open-market transaction at an average price of $300.75 (proceeds $3,127,832). The filing also reports a derivative disposition of 10,400 shares at $0.00 associated with the conversion/settlement of the exercised options. The transactions resulted in an approximate gross gain of $1,892,520 (sale proceeds minus exercise cost), before taxes and fees.

Key Details

• Transaction date: 2026-02-06 (filed 2026-02-09); filing appears timely.
• Exercise: 10,400 shares acquired at $118.78 each — total $1,235,312.
• Sale: 10,400 shares sold on open market at weighted avg ~$300.75 — total ~$3,127,832.
• Derivative disposition: 10,400 shares reported disposed at $0.00 (reflects conversion/settlement of the exercised options).
• Footnote: Weighted-average sale price ranges $300.72–$300.87; reporting person can provide per-price breakdown on request (Footnote F1).
• Shares owned after the transaction: not disclosed in the provided excerpt.

Context
This is an option exercise followed by an immediate sale (a cashless-style transaction), a common way for insiders to monetize vested equity. The filing is factual disclosure of the exercise and sale; it does not, by itself, indicate the insider’s view of the company’s prospects.