Czerniecki David 4

What Happened

• David Czerniecki, SVP & Chief Investment Officer of Loews Corp (L), was awarded 8,311 Restricted Stock Units (RSUs) effective February 9, 2026. The Form 4 reports the acquisition as a derivative award (A) with a reported price of $0 per unit (RSUs are contingent rights to shares rather than immediate stock purchases).

Key Details

• Transaction date: February 9, 2026; Form 4 filed February 11, 2026.
• Reported amount: 8,311 RSUs; filing lists $0 per unit (derivative award), so no cash purchase or sale occurred.
• Vesting: 50% vest on September 2, 2027; remaining 50% vest on September 2, 2028.
• Origin/condition: RSUs were originally awarded Sept 2, 2025 contingent on a 2025 performance-based income (PBI) metric; the Compensation Committee certified achievement on Feb 9, 2026 (footnote F2).
• Delivery: Shares will be delivered within 30 days after each vesting date unless Czerniecki elects to defer delivery.
• Shares owned after the transaction: not specified in the provided filing excerpt.
• Timeliness: Form filed Feb 11, 2026; no late-filing flag noted in the provided data.

Context

• RSUs are compensation awards (not open-market purchases or sales). They do not represent immediate share ownership until they vest and are settled, and therefore are not direct bullish/bearish trading signals. This award reflects compensation tied to company performance for 2025 and results in potential future issuance of shares if vesting conditions are met.