TRAVELERS COMPANIES, INC.: chairman and CEO Alan D Schnitzer exercised 298,368 shares

What happened

• The filing reports that Alan D Schnitzer, chairman and CEO (also a director), exercised options for 298,368 shares on Oct 21, 2026. The exercise price reported was $132.58, with an aggregate cost of $39,557,629.
• The filing also reports share dispositions on Oct 21, 2026: 209,468 shares were disposed to cover payment of exercise price or tax liability at an average price of $397.62 for proceeds of $83,288,666; and open-market sales of 12,901 shares at $394.80 for $5,093,270, 12,369 shares at $395.60 for $4,893,137, 15,759 shares at $396.65 for $6,250,822, 44,879 shares at $397.61 for $17,844,514, and 2,992 shares at $398.20 for $1,191,429. The filing also lists an exercise/conversion entry of 298,368 shares at $0.00 reported as a derivative disposition ($0).

Key details

• Transaction date(s) and prices: Oct 21, 2026; option exercise at $132.58; tax/withholding disposition at $397.62 (weighted average); open-market sales at prices ranging from $394.80 to $398.20 (weighted averages by price bands).
• Shares owned after the transaction: not reported in the provided filing.
• Footnotes: F1–F4 describe weighted average sales-price ranges and availability of per-price sale details on request; F5 states the reporting person disclaims beneficial ownership of certain securities.
• Filing information: Form 4 filed Oct 23, 2026, reporting transactions on Oct 21, 2026.

Why it may matter

• The filing reports an option exercise for 298,368 shares with concurrent share dispositions including a large withholding/disposition for taxes and several open-market sales, which is consistent with a cashless exercise where shares are used to cover exercise price and tax liability.
• A filing does not show why the insider traded or why the company acted.