Klenk Jeffrey P. 4

What Happened

Jeffrey P. Klenk, EVP & President, Bond & Specialty Insurance at Travelers (TRV), received 12,008.654 shares on 2026-02-18 as the payout of performance share rights (reported as an award, code A). To satisfy tax withholding, 5,595 shares were disposed (code F) at $298.46 per share, producing proceeds of $1,669,884. The award itself is reported at $0.00 per share because it reflects settlement of previously granted performance share rights.

Key Details

• Transaction dates: 2026-02-18 (award and tax withholding disposition); Form 4 filed 2026-02-19 (timely).
• Award: 12,008.654 shares (reported as acquisition @ $0.00) — represents payout on 2023 performance share rights (footnote F1).
• Tax withholding/disposition: 5,595 shares sold/withheld at $298.46 each, total $1,669,884 (code F).
• Shares owned after the transaction: not specified in the provided filing details.
• Filing timeliness: appears timely (filed one day after the report date).
• Codes: A = award/acquisition; F = shares withheld/sold to cover tax liability.

Context

This was primarily a non-cash settlement of long-term incentive awards (performance share rights from 2023). The sale/withholding of 5,595 shares was to cover tax obligations — a common, routine administrative step that does not necessarily signal the insider’s market view.