Loews said that, effective January 1, 2025, Benjamin J. Tisch, who became President and Chief Executive Officer, would receive an annual base salary of $1,000,000 and a target cash incentive award for 2025 of $2,600,000.

1. 01

   Loews said that, effective January 1, 2025, Benjamin J. Tisch, who became President and Chief Executive Officer, would receive an annual base salary of $1,000,000 and a target cash incentive award for 2025 of $2,600,000.

2. 02

   The company said it granted Benjamin J. Tisch a target performance-based restricted stock unit (PRSU) award for 2025 of 10,690 PRSUs, with a grant date fair value of $900,000.

3. 03

   The company said that, in connection with the leadership transition on February 17, 2025, the Compensation Committee approved special grants of 100,000, 150,000 and 200,000 SARs to Benjamin J. Tisch at exercise prices of $100, $150 and $200, respectively.

4. 04

   The company said the SARs have a term of 10 years and become exercisable 7 years after the grant date. It said the grant date fair value of the SARs awards was $4,093,500 each for Benjamin J. Tisch and Alexander H. Tisch, and $3,070,125 for Jane J. Wang.

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Original filing

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