Worman Douglas 4

What Happened
Douglas Worman, Chairman and CEO (and a Director) of CNA Financial Corporation (CNA), was granted 106,075 performance share awards on March 15, 2026 at no cost. On the same date, 37,062 shares were withheld/disposed at $47.03 per share to satisfy tax withholding obligations, generating proceeds/value of $1,743,026.

Key Details

• Transaction dates: March 15, 2026 (reported on Form 4 filed March 17, 2026). The filing was submitted within the typical 2-business-day Form 4 window.
• Grant/acquisition: 106,075 Performance Share Plan (PSP) shares acquired at $0.00 (F1, F2). These awards are for the 2025 performance cycle and will cliff vest on March 15, 2028, subject to continued employment.
• Tax withholding: 37,062 shares withheld/disposed at $47.03 per share to satisfy tax withholding (total value $1,743,026) per plan withholding provisions (F3).
• Shares owned after transaction: not disclosed in the filing.
• Footnotes: F1 describes performance-based PSP terms and vesting conditions; F2 confirms the shares were issued at no cost; F3 confirms the plan permits share withholding to meet tax obligations.

Context
This transaction reflects a standard issuance of performance-based equity and routine share withholding to cover taxes. The PSP award itself is a grant (not an open-market purchase) and will only vest if performance and continued-employment conditions are met in 2028. Withholding shares to cover taxes is common and does not necessarily indicate the insider's view on the company's stock.