HEYMAN WILLIAM H 4

4 · TRAVELERS COMPANIES, INC. · Filed Feb 24, 2026

AI-generated summary of this filing

Updated Feb 24, 2026

Travelers (TRV) Vice Chairman William Heyman Exercises Options, Sells Shares

What Happened

William H. Heyman, Vice Chairman of Travelers Companies (TRV), exercised options to acquire 5,000 shares and then sold the 5,000 shares in open-market transactions. The exercises recorded acquisitions of 1,000 shares on 2026-02-20 (exercise price $172.50), 1,000 shares on 2026-02-23 (exercise price $172.50), and 3,000 shares on 2026-02-23 (exercise price $189.01), for a total exercise cost of $912,030. The related open-market sales brought in total gross proceeds of $1,533,755 (multiple sales at $304.00, $305.00, weighted-average ~$307.76–308.00, and $309.00).

Key Details

Transaction dates and prices:
- 2026-02-20: exercised 1,000 shares @ $172.50 (acquired) and sold 1,000 shares @ $304.00 (disposed).
- 2026-02-23: exercised 1,000 shares @ $172.50 and 3,000 shares @ $189.01 (acquired); sold 1,000 @ $305.00, 2,000 @ weighted avg ~307.755–308.00 (see footnote F1), and 1,000 @ $309.00 (see footnote F2).
Aggregate: 5,000 shares exercised (cost ~$912,030) and 5,000 shares sold (proceeds ~$1,533,755).
Shares owned after the transactions: not specified in the provided filing excerpt.
Footnotes of note:
- F1/F2: Some sales reported as weighted-average prices across small price increments; the filer will provide per-price detail on request.
- F3: The Reporting Person disclaims beneficial ownership of certain shares referenced in the filing.
Timeliness: Form 4 was filed 2026-02-24 for transactions on 2026-02-20 and 2026-02-23 — the filing appears timely (within the required reporting window).

Context

These entries reflect option exercises followed by immediate open-market sales (a common "cashless" or sell-to-cover pattern). Exercising options and then selling the acquired shares generally realizes the spread between the exercise price and market price rather than indicating a new long-term purchase.
The filing is factual reporting of transactions; it does not state motivation.

Form 4

Period: 2026-02-20

Vice Chairman

Transactions

Exercise/Conversion
Common Stock
2026-02-20$172.50/sh+1,000$172,500→ 260,590 total
Sale
Common Stock
2026-02-20$304.00/sh−1,000$304,000→ 259,590 total
Exercise/Conversion
Common Stock
2026-02-23$172.50/sh+1,000$172,500→ 260,590 total
Sale
Common Stock
2026-02-23$305.00/sh−1,000$305,000→ 259,590 total
Exercise/Conversion
Common Stock
2026-02-23$189.01/sh+3,000$567,030→ 262,590 total
Sale
Common Stock
[F1]
2026-02-23$307.88/sh−2,000$615,755→ 260,590 total
Sale
Common Stock
[F2]
2026-02-23$309.00/sh−1,000$309,000→ 259,590 total
Exercise/Conversion
Stock Options (Right to Buy)
2026-02-20−1,000→ 1,000 total
Exercise: $172.50From: 2025-02-08Exp: 2032-02-08→ Common Stock (1,000 underlying)
Exercise/Conversion
Stock Options (Right to Buy)
2026-02-23−1,000→ 0 total
Exercise: $172.50From: 2025-02-08Exp: 2032-02-08→ Common Stock (1,000 underlying)
Exercise/Conversion
Stock Options (Right to Buy)
2026-02-23−3,000→ 9,557 total
Exercise: $189.01From: 2026-02-07Exp: 2033-02-07→ Common Stock (3,000 underlying)

Holdings

Footnotes (3)

[F1]Represents the weighted average sales price for increments ranging from $307.755 to $308.00. 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.
[F2]Represents the weighted average sales price for increments ranging from $309.00 to $309.001. 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.
[F3]The Reporting Person disclaims beneficial ownership of these shares.

Signature

/s/Wendy C. Skjerven, by power of attorney|2026-02-24

1 file