Hopper Robert Joseph 4

What Happened Robert J. Hopper, EVP & Chief Actuary of CNA Financial Corp (CNA), was granted 19,888 performance share awards on 2026-03-15 (no cost to him). To satisfy tax withholding obligations, 12,758 of those shares were withheld/disposed at an effective value of $47.03 per share, totaling approximately $600,009. Net new shares delivered to Hopper from this grant were 7,130.

Key Details

• Transaction date: 2026-03-15 (Form filed 2026-03-17; filing appears timely within the Form 4 two-business-day window).
• Grant (code A): 19,888 performance share units awarded at $0.00 (received at no cost).
• Tax withholding (code F): 12,758 shares withheld/disposed at $47.03 each, proceeds ≈ $600,009 to cover taxes.
• Net shares retained from this award: 7,130 (19,888 granted − 12,758 withheld).
• Vesting: These are PSP performance shares for the 2025 cycle and will cliff vest on March 15, 2028, subject to continued employment. (Footnote: award vests only if employed through vesting date, per plan/award terms.)
• Filing notes: Footnote confirms company plan permits share withholding to satisfy tax obligations.

Context This was a performance-based equity award (not an open-market purchase or an opportunistic sale). The withheld/disposed shares represent a routine tax-withholding action rather than an indication of an intent to liquidate holdings for other reasons. The award vests in 2028, so any future sale or additional withholding would depend on vesting and employment status.