Hopper Robert Joseph 4
4 · CNA FINANCIAL CORP · Filed Mar 17, 2026
Research Summary
AI-generated summary of this filing
CNA EVP Robert Hopper Receives Performance Award; Shares Withheld for Taxes
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.
Insider Transaction Report
- Award
Common Stock
[F1][F2]2026-03-15+19,888→ 98,566 total - Tax Payment
Common Stock
[F3]2026-03-15$47.03/sh−12,758$600,009→ 85,808 total
Footnotes (3)
- [F1]The Company's Incentive Compensation Plan (as amended and restated as of January 1, 2020) provides for the issuance of CNA Financial Corporation's common stock under the Performance Share Plan (PSP) awards based upon achievement of predetermined financial goals for the 2025 performance cycle. 19,888 PSP shares were achieved and will cliff vest on March 15, 2028. No performance share unit shall vest on such vesting date unless the reporting person has been continuously employed by CNA Financial Corporation from the grant date until such vesting date except as otherwise specified in award terms and employment agreement, if any.
- [F2]The Reporting Person received the CNAF shares at no cost.
- [F3]The Company's Incentive Compensation Plan (as amended and restated as of January 1, 2020) permits the withholding of shares of common stock to satisfy tax withholding obligations of the participants.