Franzetti Daniel Paul 4
4 · CNA FINANCIAL CORP · Filed Mar 17, 2026
Research Summary
AI-generated summary of this filing
CNA Financial EVP Daniel Franzetti Receives 33,094-Share Award
What Happened
Daniel Paul Franzetti, EVP & Chief Accounting Officer of CNA Financial Corporation, was granted 33,094 performance share units (PSPs) on March 15, 2026 (acquired at $0.00). To satisfy tax withholding obligations, 18,018 of the shares were withheld/disposed at $47.03 per share, a withholding value of $847,387.
Key Details
- Transaction date: March 15, 2026; Form 4 filed March 17, 2026.
- Grant: 33,094 PSPs issued at $0.00 (no cash cost to the reporting person).
- Tax withholding: 18,018 shares disposed/withheld at $47.03/share; total value ~$847,387. (F = tax withholding)
- Vesting: The 33,094 PSPs were earned for the 2025 performance cycle and will cliff vest on March 15, 2028, subject to continuous employment and award terms (footnote).
- Footnotes: F1 – PSP award based on 2025 performance; F2 – shares received at no cost; F3 – company plan permits withholding to satisfy taxes.
- Shares owned after transaction: not specified in the provided filing excerpt.
Context
This was a performance-based equity award (not an open-market purchase or a discretionary sale). Withholding shares to cover taxes is a routine administrative action common with equity awards and does not indicate a market-driven sale decision. The awarded PSPs will vest only if the insider remains employed through the vesting date (March 15, 2028), per the award terms.
Insider Transaction Report
- Award
Common Stock
[F1][F2]2026-03-15+33,094→ 108,706 total - Tax Payment
Common Stock
[F3]2026-03-15$47.03/sh−18,018$847,387→ 90,688 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. 33,094 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.