TRV insider ownership: who sold, why, and what they still hold

Who	Shares	Price	% of total stake	Total stake after	Trade date	Filed
Maria Olivo EVP, ERM & Chief Risk Officer	6,000	$369.86	4.8%	119K	Aug 28, 2026	Aug 31, 2026

What stands out

Four officers sold more than 25% of vested holdings: Maria Olivo (30% of holdings, $11.2M, none under a disclosed plan), David Rowland (44% of holdings, $4.8M, none under a disclosed plan) and Andy Bessette (59% of holdings, $4.2M, none under a disclosed plan), plus 1 more.Maria Olivo: largest sale, Feb 26, 2026 · David Rowland: largest sale, Jul 22, 2026 · Andy Bessette: largest sale, May 22, 2026

Ten officers sold $79.8M with no disclosed plan: Alan Schnitzer ($16.4M), Daniel Frey ($14.5M) and Michael Klein ($13.6M), plus 7 more. The filings don't state a reason.Alan Schnitzer: largest such sale, Feb 4, 2026 · Daniel Frey: largest such sale, Nov 6, 2025 · Michael Klein: largest such sale, Feb 6, 2026

Two officers sold shares but ended with larger stakes, because more shares came in than were sold: William Heyman (sold 30K, 12% of starting holdings; 40K added) and Daniel Yin (sold 7.2K, 12% of starting holdings; 25K added).William Heyman: largest sale, Feb 5, 2026 · Daniel Yin: largest sale, Jul 24, 2026

Percentages cover 16 of 24 officers and directors. 8 are left out

Left out: Alan Schnitzer, Avrohom Kess, Michael Klein, Daniel Frey, Jeffrey Klenk, Diane Kurtzman and Paul Munson (most of their shares vested during the period, so a percentage would mislead); Mojgan Lefebvre (held no vested shares at the start).

Disclosed company stock is not an insider's whole wealth.

Who sold, and how much of their stake

Officers and directors, past 12 months. Each bar is 100% of that person's own stake; not comparable between people. The stake is the vested shares held at the start of the period (Oct 9, 2025); the gold part is what they sold.

SoldRest of starting stakeAdded during the period

Alan Schnitzer

Chairman and CEO, Director

Sold $16.4M (plan status beside the amount). That is 15% of the shares held or received (after tax withholding) during the period†. A share of the starting stake is not shown: most of these shares arrived during the period. Why

$16.4MNo plan disclosed

Daniel Frey

EVP & Chief Financial Officer

Sold $14.5M (plan status beside the amount). That is 63% of the shares held or received (after tax withholding) during the period†. A share of the starting stake is not shown: most of these shares arrived during the period. Why

$14.5MNo plan disclosed

Michael Klein

EVP & President, Personal Ins.

Sold $13.6M (plan status beside the amount). That is 49% of the shares held or received (after tax withholding) during the period†. A share of the starting stake is not shown: most of these shares arrived during the period. Why

$13.6MNo plan disclosed

Maria Olivo

EVP, ERM & Chief Risk Officer

Sold 30%, but 30K shares were added (mostly vesting), so the stake grew

30% · $11.2MNo plan disclosed

William Heyman

Vice Chairman

Sold 12%, but 30K shares were added (mostly vesting), so the stake grew

12% · $9.0MNo plan disclosed

All 14 sellers

Selling by month

Officers and directors, Oct 2025 to Oct 2026. Each sale is counted once: under a disclosed plan, else to cover taxes, else no plan disclosed.

No plan disclosedOne dollar scale for every month; the tallest bar is labeled

Common questions

Is the Travelers Companies CEO selling stock?

Yes. Alan Schnitzer sold 56K shares ($16.4M) in the past 12 months, none of it under a trading plan disclosed in the filings.

Why are Travelers Companies insiders selling?

Filings rarely give a reason, and we don't guess at one. What they show is how the sales were made: 0% of sales by value ran under 10b5-1 trading plans disclosed in the filings and 100% had no disclosed plan. A trading plan schedules sales in advance.

Are any Travelers Companies insiders buying?

No. Officers and directors reported no purchases in the past 12 months.

How much of their stake did Travelers Companies insiders sell?

About 18% overall. As a group they ended with more shares than they started with. That covers the 12 months to Oct 9, 2026 and counts vested shares reported on SEC Forms 3, 4 and 5, which is not an insider's whole wealth.

The evidence

Who sold14 officers and directors: amount, % of holdings, trading plan

Who sold	Amount	% of holdings	Trading plan
Alan Schnitzer Chairman and CEO, Director	$16.4M 56K shares	15%† i † Most of the shares Alan Schnitzer sold arrived during the period, so this is shares sold as a share of the 272K held at the start plus the 312K received, less 213K withheld by the company for taxes.	No plan disclosed
Daniel Frey EVP & Chief Financial Officer	$14.5M 47K shares	63%† i † Most of the shares Daniel Frey sold arrived during the period, so this is shares sold as a share of the 27K held at the start plus the 55K received, less 7.5K withheld by the company for taxes.	No plan disclosed
Michael Klein EVP & President, Personal Ins.	$13.6M 45K shares	49%† i † Most of the shares Michael Klein sold arrived during the period, so this is shares sold as a share of the 36K held at the start plus the 66K received, less 10K withheld by the company for taxes.	No plan disclosed
Maria Olivo EVP, ERM & Chief Risk Officer	$11.2M 36K shares	30%	No plan disclosed
William Heyman Vice Chairman	$9.0M 30K shares	12%	No plan disclosed
Mojgan Lefebvre EVP & Chief Tech & Ops Officer	$7.7M 22K shares	100%† i † Most of the shares Mojgan Lefebvre sold arrived during the period, so this is shares sold as a share of the 0 held at the start plus the 28K received, less 6.2K withheld by the company for taxes.	No plan disclosed
Jeffrey Klenk EVP & Pres., Bond & Spec. Ins.	$6.6M 23K shares	79%† i † Most of the shares Jeffrey Klenk sold arrived during the period, so this is shares sold as a share of the 6.1K held at the start plus the 29K received, less 5.6K withheld by the company for taxes.	No plan disclosed
David Rowland EVP & Co-Chief Invest. Officer	$4.8M 15K shares	44%	No plan disclosed
Andy Bessette EVP and Chief Admin Officer	$4.2M 13K shares	59%	No plan disclosed
Diane Kurtzman EVP & Chief HR Officer	$3.9M 12K shares	69%† i † Most of the shares Diane Kurtzman sold arrived during the period, so this is shares sold as a share of the 3.8K held at the start plus the 16K received, less 3.1K withheld by the company for taxes.	No plan disclosed
Gregory Toczydlowski EVP & President, Business Ins.	$3.7M 12K shares	65%	No plan disclosed
Avrohom Kess Vice Chmn. & Chief Legal Off.	$3.5M 11K shares	18%† i † Most of the shares Avrohom Kess sold arrived during the period, so this is shares sold as a share of the 42K held at the start plus the 67K received, less 46K withheld by the company for taxes.	No plan disclosed
Daniel Yin EVP & Co-Chief Invest. Officer	$2.8M 7.2K shares	12%	No plan disclosed
Paul Munson SVP & Corp. Controller	$1.7M 5.3K shares	88%† i † Most of the shares Paul Munson sold arrived during the period, so this is shares sold as a share of the 735 held at the start plus the 5.7K received, less 414 withheld by the company for taxes.	No plan disclosed

The full ownership picture24 of 24 insiders fully reconciled · 24 officers and directors

Vested shares across all share classes, held directly and through trusts, LLCs and family members, as reported on SEC Forms 3, 4 and 5. Unvested awards and options are never counted as owned shares.

Insider

Held Oct 9, 2025

Sold

Held Oct 9, 2026

Still held

Alan Schnitzer

Includes unvested RSUs, amount not disclosed. Additional holdings last reported more than 3 years ago are shown separately and excluded from totals.

Chairman and CEO, Director

272K

−56K

314K

not meaningful

Vesting, gifts, unvested awards and holding lines for Alan Schnitzer

+216Kshares vested or exercised

0gifted (net of own trusts)

−213Kwithheld by the company for taxes

none reportedunvested awards, start → end

Includes unvested RSUs, amount not disclosed.
Additional holdings last reported more than 3 years ago are shown separately and excluded from totals.

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct includes unvested RSUs, amount not disclosed	Common Stock	260,329	303,124
Spouse	Common Stock	11,091	11,091
Reporting Person As Custodian For Children	Common Stock	93	93

Additional holdings last reported Apr 21, 2011, not confirmed since: 93 shares. Not included in any total or percentage on this page.

Self As Custodian For Children, Common Stock: 86 shares, last reported Apr 21, 2011
Spouse As Custodian For Child, Common Stock: 7 shares, last reported Apr 21, 2011

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
99,207	$213.01	Feb 6, 2034	$15.6M
88,505	$244.06	Feb 4, 2035	$11.1M
88,389	$288.23	Feb 3, 2036	$7.2M

Estimate: options held × ($369.86 − strike price), using the most recent insider trade price on Form 4 (Aug 28, 2026), not a market close.

William Heyman

Minor difference of 19 shares. Difference is under 0.5% of holdings. Includes unvested RSUs, amount not disclosed. Additional holdings last reported more than 3 years ago are shown separately and excluded from totals.

Vice Chairman

259K

−30K

264K

+1.7%

Vesting, gifts, unvested awards and holding lines for William Heyman

+30Kshares vested or exercised

0gifted (net of own trusts)

−5.6Kwithheld by the company for taxes

none reportedunvested awards, start → end

Includes unvested RSUs, amount not disclosed.
Additional holdings last reported more than 3 years ago are shown separately and excluded from totals.

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct includes unvested RSUs, amount not disclosed	Common Stock	255,086	259,590
Spouse	Common Stock	2,256	2,256
401(k) Plan	Common Stock	1,704	1,723
In Trust For Stepson	Common Stock	250	250

Additional holdings last reported Feb 6, 2006, not confirmed since: 111 shares. Not included in any total or percentage on this page.

401(k), Common Stock: 111 shares, last reported Feb 6, 2006

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
8,000	$189.01	Feb 7, 2033	$1.4M
7,086	$213.01	Feb 6, 2034	$1.1M

Estimate: options held × ($369.86 − strike price), using the most recent insider trade price on Form 4 (Aug 28, 2026), not a market close.

Reconciliation: minor difference of 19 shares. Difference is under 0.5% of holdings.

Maria Olivo

Minor difference of 6 shares. Difference is under 0.5% of holdings. Includes unvested RSUs, amount not disclosed. New Form 3 filed 2009-06-08; earlier filings set aside.

EVP, ERM & Chief Risk Officer

118K

−36K

119K

+0.5%

Vesting, gifts, unvested awards and holding lines for Maria Olivo

+30Kshares vested or exercised

−520gifted (net of own trusts)

−6.7Kwithheld by the company for taxes

none reportedunvested awards, start → end

Includes unvested RSUs, amount not disclosed.
New Form 3 filed 2009-06-08; earlier filings set aside.

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct includes unvested RSUs, amount not disclosed	Common Stock	118,116	118,742
401(k) Plan	Common Stock	338	344

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
14,615	$213.01	Feb 6, 2034	$2.3M
11,970	$244.06	Feb 4, 2035	$1.5M
10,773	$288.23	Feb 3, 2036	$879K

Estimate: options held × ($369.86 − strike price), using the most recent insider trade price on Form 4 (Aug 28, 2026), not a market close.

Reconciliation: minor difference of 6 shares. Difference is under 0.5% of holdings.

Laurie Thomsen

Minor difference of 1,190 shares. Small increase from dividend reinvestment. Small increase from dividend reinvestment. Additional holdings last reported more than 3 years ago are shown separately and excluded from totals.

Director

62K

63K

no sales

Vesting, gifts, unvested awards and holding lines for Laurie Thomsen

0shares vested or exercised

−631gifted (net of own trusts)

none reportedunvested awards, start → end

Small increase from dividend reinvestment. Filing
Additional holdings last reported more than 3 years ago are shown separately and excluded from totals.

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct	Common Stock	61,619	62,178
IRA	Common Stock	303	303
Spouse	Common Stock	200	200

Additional holdings last reported Feb 2, 2016, not confirmed since: 432 shares. Not included in any total or percentage on this page.

Daughter, Common Stock: 216 shares, last reported Feb 2, 2016
Son, Common Stock: 216 shares, last reported Feb 2, 2016

Reconciliation: minor difference of 1,190 shares. Small increase from dividend reinvestment.

Daniel Yin

Includes unvested RSUs, amount not disclosed.

EVP & Co-Chief Invest. Officer

62K

−7.2K

69K

+12%

Vesting, gifts, unvested awards and holding lines for Daniel Yin

+16Kshares vested or exercised

0gifted (net of own trusts)

−11Kwithheld by the company for taxes

none reportedunvested awards, start → end

Includes unvested RSUs, amount not disclosed.

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct includes unvested RSUs, amount not disclosed	Common Stock	61,657	68,834

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
10,718	$213.01	Feb 6, 2034	$1.7M
8,778	$244.06	Feb 4, 2035	$1.1M
7,407	$288.23	Feb 3, 2036	$605K

Estimate: options held × ($369.86 − strike price), using the most recent insider trade price on Form 4 (Aug 28, 2026), not a market close.

Avrohom Kess

Includes unvested RSUs, amount not disclosed.

Vice Chmn. & Chief Legal Off.

42K

−11K

48K

not meaningful

Vesting, gifts, unvested awards and holding lines for Avrohom Kess

+48Kshares vested or exercised

−3.1Kgifted (net of own trusts)

−46Kwithheld by the company for taxes

none reportedunvested awards, start → end

Includes unvested RSUs, amount not disclosed.

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct includes unvested RSUs, amount not disclosed	Common Stock	41,887	47,737

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
20,196	$213.01	Feb 6, 2034	$3.2M
16,540	$244.06	Feb 4, 2035	$2.1M
14,691	$288.23	Feb 3, 2036	$1.2M

Estimate: options held × ($369.86 − strike price), using the most recent insider trade price on Form 4 (Aug 28, 2026), not a market close.

Michael Klein

Minor difference of 27 shares. Difference is under 0.5% of holdings.

EVP & President, Personal Ins.

36K

−45K

47K

not meaningful

Vesting, gifts, unvested awards and holding lines for Michael Klein

+45Kshares vested or exercised

0gifted (net of own trusts)

−10Kwithheld by the company for taxes

none reportedunvested awards, start → end

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct	Common Stock	33,638	45,125
401(k) Plan	Common Stock	1,868	1,895

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
30,037	$139.83	Feb 2, 2031	$6.9M
22,676	$213.01	Feb 6, 2034	$3.6M
18,572	$244.06	Feb 4, 2035	$2.3M
16,649	$288.23	Feb 3, 2036	$1.4M

Estimate: options held × ($369.86 − strike price), using the most recent insider trade price on Form 4 (Aug 28, 2026), not a market close.

Reconciliation: minor difference of 27 shares. Difference is under 0.5% of holdings.

David Rowland

Minor difference of 86 shares. Difference is under 0.5% of holdings. Includes unvested RSUs, amount not disclosed.

EVP & Co-Chief Invest. Officer

33K

−15K

38K

+15%

Vesting, gifts, unvested awards and holding lines for David Rowland

+15Kshares vested or exercised

0gifted (net of own trusts)

−4.2Kwithheld by the company for taxes

none reportedunvested awards, start → end

Includes unvested RSUs, amount not disclosed.

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct includes unvested RSUs, amount not disclosed	Common Stock	14,862	10,479
In Trust	Common Stock	12,686	22,083
401(k) Plan	Common Stock	5,838	5,923

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
22,755	$132.58	Feb 4, 2030	$5.4M
10,718	$213.01	Feb 6, 2034	$1.7M
8,778	$244.06	Feb 4, 2035	$1.1M
7,407	$288.23	Feb 3, 2036	$605K

Estimate: options held × ($369.86 − strike price), using the most recent insider trade price on Form 4 (Aug 28, 2026), not a market close.

Reconciliation: minor difference of 86 shares. Difference is under 0.5% of holdings.

Daniel Frey

Includes unvested RSUs, amount not disclosed.

EVP & Chief Financial Officer

27K

−47K

28K

not meaningful

Vesting, gifts, unvested awards and holding lines for Daniel Frey

+39Kshares vested or exercised

0gifted (net of own trusts)

−7.5Kwithheld by the company for taxes

none reportedunvested awards, start → end

Includes unvested RSUs, amount not disclosed.

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct includes unvested RSUs, amount not disclosed	Common Stock	26,932	27,535

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
22,205	$172.50	Feb 8, 2032	$4.4M
17,716	$213.01	Feb 6, 2034	$2.8M
14,509	$244.06	Feb 4, 2035	$1.8M
13,026	$288.23	Feb 3, 2036	$1.1M

Estimate: options held × ($369.86 − strike price), using the most recent insider trade price on Form 4 (Aug 28, 2026), not a market close.

Andy Bessette

Minor difference of 25 shares. Difference is under 0.5% of holdings. Includes unvested RSUs, amount not disclosed. Additional holdings last reported more than 3 years ago are shown separately and excluded from totals.

EVP and Chief Admin Officer

22K

−13K

23K

+2.8%

Vesting, gifts, unvested awards and holding lines for Andy Bessette

+10Kshares vested or exercised

−817gifted (net of own trusts)

−3.8Kwithheld by the company for taxes

none reportedunvested awards, start → end

Includes unvested RSUs, amount not disclosed.
Additional holdings last reported more than 3 years ago are shown separately and excluded from totals.

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct includes unvested RSUs, amount not disclosed	Common Stock	20,692	21,284
401(k) Plan	Common Stock	1,696	1,721

Additional holdings last reported Aug 20, 2019, not confirmed since: 22 shares. Not included in any total or percentage on this page.

Reporting Person as Custodian for Son, Common Stock: 22 shares, last reported Aug 20, 2019

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
8,681	$213.01	Feb 6, 2034	$1.4M
7,109	$244.06	Feb 4, 2035	$894K
6,427	$288.23	Feb 3, 2036	$525K

Estimate: options held × ($369.86 − strike price), using the most recent insider trade price on Form 4 (Aug 28, 2026), not a market close.

Reconciliation: minor difference of 25 shares. Difference is under 0.5% of holdings.

Gregory Toczydlowski

Minor difference of 2 shares. Difference is under 0.5% of holdings.

EVP & President, Business Ins.

19K

−12K

19K

100%

Vesting, gifts, unvested awards and holding lines for Gregory Toczydlowski

0shares vested or exercised

0gifted (net of own trusts)

−11Kwithheld by the company for taxes

none reportedunvested awards, start → end

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct	Common Stock	18,416	18,416
401(k) Plan	Common Stock	283	286

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
24,093	$213.01	Feb 6, 2034	$3.8M
19,732	$244.06	Feb 4, 2035	$2.5M
17,629	$288.23	Feb 3, 2036	$1.4M

Estimate: options held × ($369.86 − strike price), using the most recent insider trade price on Form 4 (Aug 28, 2026), not a market close.

Reconciliation: minor difference of 2 shares. Difference is under 0.5% of holdings.

Clarence Otis Jr.

Minor difference of 258 shares. Unexplained small increases, consistent with stock unit vesting or reinvested dividends. Unexplained small increases, consistent with stock unit vesting or reinvested dividends. New Form 3 filed 2017-08-02; earlier filings set aside.

Director

16K

17K

no sales

Vesting, gifts, unvested awards and holding lines for Clarence Otis Jr.

0shares vested or exercised

0gifted (net of own trusts)

none reportedunvested awards, start → end

Unexplained small increases, consistent with stock unit vesting or reinvested dividends.
New Form 3 filed 2017-08-02; earlier filings set aside.

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct	Common Stock	16,239	17,226

Reconciliation: minor difference of 258 shares. Unexplained small increases, consistent with stock unit vesting or reinvested dividends.

Todd Schermerhorn

Minor difference of 212 shares. Unexplained small increases, consistent with stock unit vesting or reinvested dividends. Unexplained small increases, consistent with stock unit vesting or reinvested dividends.

Director

13K

14K

no sales

Vesting, gifts, unvested awards and holding lines for Todd Schermerhorn

0shares vested or exercised

0gifted (net of own trusts)

none reportedunvested awards, start → end

Unexplained small increases, consistent with stock unit vesting or reinvested dividends.

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct	Common Stock	13,325	14,266

Reconciliation: minor difference of 212 shares. Unexplained small increases, consistent with stock unit vesting or reinvested dividends.

Elizabeth Robinson

Minor difference of 180 shares. Unexplained small increases, consistent with stock unit vesting or reinvested dividends. Unexplained small increases, consistent with stock unit vesting or reinvested dividends.

Director

11K

13K

no sales

Vesting, gifts, unvested awards and holding lines for Elizabeth Robinson

0shares vested or exercised

0gifted (net of own trusts)

none reportedunvested awards, start → end

Unexplained small increases, consistent with stock unit vesting or reinvested dividends.

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct	Common Stock	11,264	12,729

Reconciliation: minor difference of 180 shares. Unexplained small increases, consistent with stock unit vesting or reinvested dividends.

Jeffrey Klenk

EVP & Pres., Bond & Spec. Ins.

6.1K

−23K

6.1K

not meaningful

Vesting, gifts, unvested awards and holding lines for Jeffrey Klenk

+17Kshares vested or exercised

0gifted (net of own trusts)

−5.6Kwithheld by the company for taxes

none reportedunvested awards, start → end

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct	Common Stock	6,075	6,075

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
9,016	$132.58	Feb 4, 2030	$2.1M
13,818	$213.01	Feb 6, 2034	$2.2M
13,058	$244.06	Feb 4, 2035	$1.6M
12,854	$288.23	Feb 3, 2036	$1.0M

Estimate: options held × ($369.86 − strike price), using the most recent insider trade price on Form 4 (Aug 28, 2026), not a market close.

Thomas Leonardi

Minor difference of 80 shares. Unexplained small increases, consistent with stock unit vesting or reinvested dividends. Unexplained small increases, consistent with stock unit vesting or reinvested dividends.

Director

5.8K

no sales

Vesting, gifts, unvested awards and holding lines for Thomas Leonardi

0shares vested or exercised

0gifted (net of own trusts)

none reportedunvested awards, start → end

Unexplained small increases, consistent with stock unit vesting or reinvested dividends.

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct	Common Stock	5,025	5,834

Reconciliation: minor difference of 80 shares. Unexplained small increases, consistent with stock unit vesting or reinvested dividends.

Russell Golden

Minor difference of 77 shares. Unexplained small increases, consistent with stock unit vesting or reinvested dividends. Unexplained small increases, consistent with stock unit vesting or reinvested dividends.

Director

4.4K

5.7K

no sales

Vesting, gifts, unvested awards and holding lines for Russell Golden

0shares vested or exercised

0gifted (net of own trusts)

none reportedunvested awards, start → end

Unexplained small increases, consistent with stock unit vesting or reinvested dividends.

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct	Common Stock	4,356	5,749

Reconciliation: minor difference of 77 shares. Unexplained small increases, consistent with stock unit vesting or reinvested dividends.

Rafael Santana

Minor difference of 61 shares. Unexplained small increases, consistent with stock unit vesting or reinvested dividends. Unexplained small increases, consistent with stock unit vesting or reinvested dividends.

Director

3.8K

4.6K

no sales

Vesting, gifts, unvested awards and holding lines for Rafael Santana

0shares vested or exercised

0gifted (net of own trusts)

none reportedunvested awards, start → end

Unexplained small increases, consistent with stock unit vesting or reinvested dividends.

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct	Common Stock	3,832	4,622

Reconciliation: minor difference of 61 shares. Unexplained small increases, consistent with stock unit vesting or reinvested dividends.

Bridget van Kralingen

Director

3.8K

4.6K

no sales

Vesting, gifts, unvested awards and holding lines for Bridget van Kralingen

0shares vested or exercised

0gifted (net of own trusts)

none reportedunvested awards, start → end

Unexplained small increases, consistent with stock unit vesting or reinvested dividends.

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct	Common Stock	3,832	4,622

Reconciliation: minor difference of 61 shares. Unexplained small increases, consistent with stock unit vesting or reinvested dividends.

Diane Kurtzman

Includes unvested RSUs, amount not disclosed.

EVP & Chief HR Officer

3.8K

−12K

5.3K

not meaningful

Vesting, gifts, unvested awards and holding lines for Diane Kurtzman

+10Kshares vested or exercised

0gifted (net of own trusts)

−3.1Kwithheld by the company for taxes

none reportedunvested awards, start → end

Includes unvested RSUs, amount not disclosed.

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct includes unvested RSUs, amount not disclosed	Common Stock	3,819	5,298

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
7,086	$213.01	Feb 6, 2034	$1.1M
5,804	$244.06	Feb 4, 2035	$730K
6,060	$288.23	Feb 3, 2036	$495K

Estimate: options held × ($369.86 − strike price), using the most recent insider trade price on Form 4 (Aug 28, 2026), not a market close.

David Williams

Minor difference of 27 shares. Unexplained small increases, consistent with stock unit vesting or reinvested dividends. Unexplained small increases, consistent with stock unit vesting or reinvested dividends.

Director

1.7K

2.5K

no sales

Vesting, gifts, unvested awards and holding lines for David Williams

0shares vested or exercised

0gifted (net of own trusts)

none reportedunvested awards, start → end

Unexplained small increases, consistent with stock unit vesting or reinvested dividends.

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct	Common Stock	1,722	2,478

Reconciliation: minor difference of 27 shares. Unexplained small increases, consistent with stock unit vesting or reinvested dividends.

Paul Munson

SVP & Corp. Controller

735

−5.3K

735

not meaningful

Vesting, gifts, unvested awards and holding lines for Paul Munson

+4.3Kshares vested or exercised

0gifted (net of own trusts)

−414withheld by the company for taxes

none reportedunvested awards, start → end

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct	Common Stock	735	735

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
1,637	$213.01	Feb 6, 2034	$257K
1,381	$244.06	Feb 4, 2035	$174K
1,165	$288.23	Feb 3, 2036	$95K

Estimate: options held × ($369.86 − strike price), using the most recent insider trade price on Form 4 (Aug 28, 2026), not a market close.

Anthony Jabbour

Minor difference of 2 shares. Difference is under 0.5% of holdings. Started reporting during the period; starting holdings are from the Form 3.

Director

114

627

no sales

Vesting, gifts, unvested awards and holding lines for Anthony Jabbour

0shares vested or exercised

0gifted (net of own trusts)

none reportedunvested awards, start → end

Started reporting during the period; starting holdings are from the Form 3.

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct	Common Stock	0	513
In Trust	Common Stock	114	114

Reconciliation: minor difference of 2 shares. Difference is under 0.5% of holdings.

Mojgan Lefebvre

Includes unvested RSUs, amount not disclosed.

EVP & Chief Tech & Ops Officer

−22K

not meaningful

Vesting, gifts, unvested awards and holding lines for Mojgan Lefebvre

+16Kshares vested or exercised

0gifted (net of own trusts)

−6.2Kwithheld by the company for taxes

none reportedunvested awards, start → end

Includes unvested RSUs, amount not disclosed.

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct includes unvested RSUs, amount not disclosed	Common Stock	0	0

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
21,214	$139.83	Feb 2, 2031	$4.9M
12,667	$213.01	Feb 6, 2034	$2.0M
11,571	$244.06	Feb 4, 2035	$1.5M
10,651	$288.23	Feb 3, 2036	$869K

Estimate: options held × ($369.86 − strike price), using the most recent insider trade price on Form 4 (Aug 28, 2026), not a market close.

24 of 24 insiders fully reconciled: starting holdings plus reported transactions match ending holdings (8 exactly, 16 with a minor or footnoted difference). Percentages cover 16 of 24 officers and directors. Left out: Alan Schnitzer, Avrohom Kess, Michael Klein, Daniel Frey, Jeffrey Klenk, Diane Kurtzman and Paul Munson (most of their shares vested during the period, so a percentage would mislead); Mojgan Lefebvre (held no vested shares at the start). "Still held" compares ending with starting vested shares; a plus sign means the holding grew.

What explains the selling$104M of sales by plan status, purpose, seller and month

Officer and director open-market sales: $104M across 334,605 shares. Plan status and stated purpose are separate questions, and a sale can have both.

By plan status

No plan disclosed · $104M

Sales with no 10b5-1 plan and no tax reference in the filing. $16.4M of it is Alan Schnitzer. No plan disclosed is a statement about the filing, not about why the sale happened. Largest such sale: Alan Schnitzer, Feb 4, 2026

Taxes

334,140 shares ($99.4M) were withheld by the company for taxes, which isn't a market sale.

Seller	Shares sold	Proceeds	Under a disclosed plan	Share of total	Sales dates
Alan Schnitzer Chairman and CEO, Director	56K	$16.4M	0%	16%	Feb 4, 2026 to Feb 4, 2026
Daniel Frey EVP & Chief Financial Officer	47K	$14.5M	0%	14%	Nov 6, 2025 to Jul 21, 2026
Michael Klein EVP & President, Personal Ins.	45K	$13.6M	0%	13%	Oct 28, 2025 to Jul 21, 2026
Maria Olivo EVP, ERM & Chief Risk Officer	36K	$11.2M	0%	11%	Nov 26, 2025 to Aug 28, 2026
William Heyman Vice Chairman	30K	$9.0M	0%	9%	Nov 7, 2025 to Apr 28, 2026
Mojgan Lefebvre EVP & Chief Tech & Ops Officer	22K	$7.7M	0%	7%	Feb 19, 2026 to Jul 21, 2026
Jeffrey Klenk EVP & Pres., Bond & Spec. Ins.	23K	$6.6M	0%	6%	Jan 23, 2026 to Apr 20, 2026
David Rowland EVP & Co-Chief Invest. Officer	15K	$4.8M	0%	5%	Nov 21, 2025 to Jul 22, 2026
Andy Bessette EVP and Chief Admin Officer	13K	$4.2M	0%	4%	Feb 17, 2026 to Jul 22, 2026
Diane Kurtzman EVP & Chief HR Officer	12K	$3.9M	0%	4%	Nov 24, 2025 to Jul 24, 2026
Gregory Toczydlowski EVP & President, Business Ins.	12K	$3.7M	0%	4%	Feb 20, 2026 to Feb 20, 2026
Avrohom Kess Vice Chmn. & Chief Legal Off.	11K	$3.5M	0%	3%	Feb 20, 2026 to Apr 28, 2026
Daniel Yin EVP & Co-Chief Invest. Officer	7.2K	$2.8M	0%	3%	Jul 24, 2026 to Jul 24, 2026
Paul Munson SVP & Corp. Controller	5.3K	$1.7M	0%	2%	Feb 25, 2026 to Jul 22, 2026

Sales by month

Month	Sale proceeds	Disclosed plan	To cover taxes	No plan disclosed
Oct 2025	$2.3M	$0	$0	$2.3M
Nov 2025	$17.3M	$0	$0	$17.3M
Dec 2025	$0	$0	$0	$0
Jan 2026	$4.7M	$0	$0	$4.7M
Feb 2026	$43.0M	$0	$0	$43.0M
Mar 2026	$0	$0	$0	$0
Apr 2026	$8.4M	$0	$0	$8.4M
May 2026	$4.4M	$0	$0	$4.4M
Jun 2026	$0	$0	$0	$0
Jul 2026	$21.3M	$0	$0	$21.3M
Aug 2026	$2.2M	$0	$0	$2.2M
Sep 2026	$0	$0	$0	$0
Oct 2026	$0	$0	$0	$0

Is this normal? Selling year by year5 earlier years to compare with

In line with the past 5 years. 14 insiders sold; the average is 12 a year.

12 months ending	Shares sold	Insiders who sold	Proceeds
Oct 9, 2026 Latest 12 months	335K	14	$104M
Oct 9, 2025 1 year earlier	374K	13	$100M
Oct 9, 2024 2 years earlier	382K	13	$81.7M
Oct 10, 2023 3 years earlier	425K	13	$78.9M
Oct 10, 2022 4 years earlier	335K	12	$57.4M
Oct 10, 2021 5 years earlier	363K	8	$55.2M

Open-market sales (Form 4 code S) by people who were officers or directors, in split-adjusted shares. Earlier years include people who have since left. A sale that an outside holder also reports (a family trust, a fund) is counted with outside holders in every year. Shares, not dollars, are compared, so a change in the stock price doesn't look like a change in selling. Years the filings don't fully cover are shown but left out of the average.

Known gaps and uncertaintyEvery officer and director reconciles

Every officer and director reconciles for this period.

William Heyman: minor difference of 19 shares. Difference is under 0.5% of holdings.

Maria Olivo: minor difference of 6 shares. Difference is under 0.5% of holdings.

Laurie Thomsen: minor difference of 1,190 shares. Small increase from dividend reinvestment.

Michael Klein: minor difference of 27 shares. Difference is under 0.5% of holdings.

David Rowland: minor difference of 86 shares. Difference is under 0.5% of holdings.

Andy Bessette: minor difference of 25 shares. Difference is under 0.5% of holdings.

Gregory Toczydlowski: minor difference of 2 shares. Difference is under 0.5% of holdings.

Clarence Otis Jr.: minor difference of 258 shares. Unexplained small increases, consistent with stock unit vesting or reinvested dividends.

Todd Schermerhorn: minor difference of 212 shares. Unexplained small increases, consistent with stock unit vesting or reinvested dividends.

Elizabeth Robinson: minor difference of 180 shares. Unexplained small increases, consistent with stock unit vesting or reinvested dividends.

Thomas Leonardi: minor difference of 80 shares. Unexplained small increases, consistent with stock unit vesting or reinvested dividends.

Russell Golden: minor difference of 77 shares. Unexplained small increases, consistent with stock unit vesting or reinvested dividends.

Rafael Santana: minor difference of 61 shares. Unexplained small increases, consistent with stock unit vesting or reinvested dividends.

Bridget van Kralingen: minor difference of 61 shares. Unexplained small increases, consistent with stock unit vesting or reinvested dividends.

David Williams: minor difference of 27 shares. Unexplained small increases, consistent with stock unit vesting or reinvested dividends.

Anthony Jabbour: minor difference of 2 shares. Difference is under 0.5% of holdings.

Inferred rename: "Son" is treated as the same holder as "Reporting Person as Custodian for Son", because the old name was never reported again and the new one opened with the same balance (22 shares). Old name, new name

Inferred rename: "Children's 12-year Trust" is treated as the same holder as "In trusts for children", because the old name was never reported again and the new one opened with the same balance (288 shares). Old name, new name

Inferred rename: "Grantor Retained Annuity Trust" is treated as the same holder as "In Trusts", because the old name was never reported again and the new one opened with the same balance (16,129 shares). Old name, new name

External context: we only cite outside events when a documented connection exists. None is shown for this period.

Sources and methodology2,367 filings from SEC EDGAR, and how we read them

All 2,367 Forms 3, 4 and 5 filed for Travelers Companies (SEC CIK 86312) from Jan 29, 1998 to Oct 1, 2026, retrieved from SEC EDGAR on Oct 9, 2026. Prices are the ones reported in each filing, often weighted averages. 33 filings were left out because Travelers Companies filed them as an owner of another company's stock. 65 older filings exist only on paper and could not be read.

Holdings. Each holding line (a share class plus an owner, such as a trust or LLC) carries its last reported balance forward. Entities first reported during the period start at zero, so transfers between an insider's own trusts don't count as selling. Lines not reported for three years or more are listed separately and left out of totals.

Sales. A sale counts as under a 10b5-1 plan if its footnote cites one or the filing's Rule 10b5-1 box is checked, and as tax-related if its footnote cites tax obligations or sell-to-cover. Shares withheld by the company for taxes are listed separately. Sales with neither attribute are labeled "no plan disclosed".

Full methodology

Former or inactive filers (55)No filing in 18 months; last reported balances, not in any total

Name	Last filed	Last reported balance
Janet Dolan	Apr 1, 2024	53,170 shares, last reported balance as of Mar 28, 2024
William Kane	Feb 8, 2024	23,443 shares, last reported balance as of Feb 6, 2024
Douglas Russell	Feb 23, 2023	19,323 shares, last reported balance as of Feb 22, 2023
Patricia Higgins	Feb 9, 2023	41,316 shares, last reported balance as of Feb 7, 2023
Alan Beller	Feb 9, 2023	41,194 shares, last reported balance as of Feb 7, 2023
Philip Ruegger III	Feb 9, 2023	38,900 shares, last reported balance as of Feb 7, 2023
Thomas Kunkel	Sep 3, 2021	34,330 shares, last reported balance as of Aug 18, 2021
Donald Shepard	Jan 4, 2021	42,382 shares, last reported balance as of Dec 31, 2020
Diane Bengston	Feb 21, 2020	6,547 shares, last reported balance as of Feb 19, 2020
Jay Benet	Aug 26, 2019	102,944 shares, last reported balance as of Aug 23, 2019
John Clifford Jr.	Feb 23, 2018	16,444 shares, last reported balance as of Feb 21, 2018
Brian Maclean	Feb 23, 2018	134,985 shares, last reported balance as of Feb 21, 2018
Kenneth Spence III	Feb 23, 2018	28,912 shares, last reported balance as of Feb 22, 2018
John Dasburg	Feb 8, 2018	65,031 shares, last reported balance as of Feb 6, 2018
Kenneth Duberstein	Feb 8, 2018	50,439 shares, last reported balance as of Feb 6, 2018
Cleve Killingsworth Jr.	Feb 13, 2017	29,072 shares, last reported balance as of Feb 9, 2017
Jay Fishman	Sep 21, 2016	464,869 shares, last reported balance as of Jul 26, 2016
Doreen Spadorcia	May 13, 2016	21,587 shares, last reported balance as of May 12, 2016
Thomas Hodgson	Feb 4, 2016	68,546 shares, last reported balance as of Feb 2, 2016
William Cunningham Jr.	May 5, 2014	8,518 shares, last reported balance as of May 1, 2014
Charles Clarke	Feb 25, 2013	36,650 shares, last reported balance as of Feb 21, 2013
Lawrence Graev	Feb 7, 2013	27,490 shares, last reported balance as of Feb 5, 2013
William Bloom	Jun 1, 2010	35,744 shares, last reported balance as of May 28, 2010
John Albano	Apr 23, 2010	5,315 shares, last reported balance as of Apr 22, 2010
Samuel Liss	Feb 25, 2010	71,894 shares, last reported balance as of Feb 24, 2010
Robert Lipp	Feb 23, 2010	617,893 shares, last reported balance as of Feb 19, 2010
Blythe McGarvie	Feb 4, 2010	19,671 shares, last reported balance as of Feb 2, 2010
Glen Nelson	Apr 2, 2009	220,301 shares, last reported balance as of Mar 31, 2009
Joseph Lacher Jr.	Feb 26, 2009	63,804 shares, last reported balance as of Feb 24, 2009
Irwin Ettinger	Feb 7, 2008	77,098 shares, last reported balance as of Feb 6, 2008
Kathleen Bolduc	Feb 7, 2008	6,905 shares, last reported balance as of Feb 6, 2008
Leslie Disharoon	Apr 2, 2007	37,681 shares, last reported balance as of Mar 30, 2007
Charles Scharf	Jul 6, 2005	10,637 shares, last reported balance as of Jul 1, 2005
Carolyn Byrd	May 5, 2005	2,586 shares, last reported balance as of May 3, 2005
Bruce Backberg	Apr 28, 2005	24,229 shares, last reported balance as of Apr 27, 2005
Kent Urness	Feb 7, 2005	39,404 shares, last reported balance as of Feb 4, 2005
Gordon Sprenger	Feb 3, 2005	4,575 shares, last reported balance as of Jul 28, 2004
John Maccoll	Jan 27, 2005	35,124 shares, last reported balance as of Jan 25, 2005
Michael Miller	Jan 27, 2005	58,571 shares, last reported balance as of Jan 25, 2005
John Treacy	Jan 27, 2005	7,456 shares, last reported balance as of Jan 25, 2005
James Lawrence	Jan 5, 2005	3,700 shares, last reported balance as of Jan 3, 2005
Howard Berkowitz	Jan 5, 2005	10,783 shares, last reported balance as of Jan 3, 2005
Kenneth Bialkin	Jan 5, 2005	62,327 shares, last reported balance as of Jan 3, 2005
Meryl Hartzband	Jan 5, 2005	7,056 shares, last reported balance as of Jan 3, 2005
Jeffrey Peek	Jan 5, 2005	11,013 shares, last reported balance as of Jan 3, 2005
Frank Tasco	Jan 5, 2005	9,793 shares, last reported balance as of Jan 3, 2005
William Kling	Nov 4, 2004	11,362 shares, last reported balance as of Nov 3, 2004
Douglas Elliot	Sep 28, 2004	40,059 shares, last reported balance as of Sep 24, 2004
William Kling	Aug 12, 2004	11,362 shares, last reported balance as of Jul 28, 2004
Nancy Roseman	Jul 30, 2004	3,454 shares, last reported balance as of Jul 28, 2004
Timothy Yessman	Apr 2, 2004	23,631 shares, last reported balance as of Apr 1, 2004
Marita Zuraitis	Feb 13, 2004	28,313 shares, last reported balance as of Feb 5, 2004
Thomas Bradley	Feb 13, 2004	29,516 shares, last reported balance as of Feb 5, 2004
Laura Gagnon	Feb 13, 2004	8,212 shares, last reported balance as of Feb 2, 2004
Pierson Grieve		No balance on record

Spotted something wrong on this page? Report an error. We check every report against the SEC filing and list what we fix in the corrections log.

Travelers Companies insiders sold $104M in the past 12 months. How much of their stake is that?

What stands out

Who sold, and how much of their stake

Selling by month

Common questions

Is the Travelers Companies CEO selling stock?

Why are Travelers Companies insiders selling?

Are any Travelers Companies insiders buying?

How much of their stake did Travelers Companies insiders sell?

The evidence

No plan disclosed · $104M

Taxes

Sales by month