TISCH ANDREW H 4

What Happened
Andrew H. Tisch, Director Emeritus of Loews Corp (ticker: L), sold a total of 100,000 shares in two open-market transactions. On 2026-02-12 he disposed of 50,000 shares at a weighted average price of $110.27 for proceeds of $5,513,500 (range: $110.11–$110.48 per F1). On 2026-02-13 he disposed of 50,000 shares at a weighted average price of $108.87 for proceeds of $5,443,500 (range: $108.50–$109.42 per F2). Combined proceeds were approximately $10,957,000. These were sales (not purchases), which are often routine and do not by themselves indicate insider optimism.

Key Details

• Transaction dates and prices: Feb 12, 2026 — 50,000 shares @ $110.27 (weighted avg; F1 range $110.11–$110.48); Feb 13, 2026 — 50,000 shares @ $108.87 (weighted avg; F2 range $108.50–$109.42).
• Proceeds: $5,513,500 (Feb 12) and $5,443,500 (Feb 13); total ≈ $10,957,000.
• Transaction type: Sale (open market or private sale as reported).
• Shares owned after transaction: Not specified in the provided filing excerpt.
• Footnotes: F1 and F2 note the reported prices are weighted averages across multiple transactions within the listed ranges; the reporting person will provide a per-price breakdown on request by the SEC staff, issuer, or a security holder.
• Filing timeliness: Form filed 2026-02-17 for trades on Feb 12–13 — this appears to be more than two business days after the trades and therefore may be a late filing.

Context

• Sales by directors can be for many reasons (diversification, tax planning, estate needs) and are not definitive signals of company prospects. Purchases generally carry more weight as a positive signal.
• No option exercises, awards, or gifts are reported in this filing — only outright share dispositions.