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# Travelers CEO Schnitzer Cashes Out $35.3 Million After Option Exercise
- URL: https://www.bullished.co/travelers-ceo-schnitzer-cashes-out-35-3-million-after-option-exercise-279144c0/
- Published: 2026-10-23T20:41:06.000Z
- Updated: 2026-10-23T20:41:06.000Z
- Description: The chief executive's 88,900-share sale came as he exercised 298,368 options.
- Author: Matteo Parrino
- Tags: Insider Trades, TRV, Industry: Financials

Travelers Chairman and CEO Alan Schnitzer sold [88,900 shares](https://www.sec.gov/Archives/edgar/data/0001397350/000008631226000190/xslF345X06/form4.xml?ref=bullished.co) of the insurer's stock on Wednesday, a $35.3 million sale at an average of $396.77 a share, according to a Form 4, the report insiders file after trading. The sales followed his exercise of stock options the same day.

## Options exercised, then sold

The filing shows Schnitzer converted options on 298,368 shares, struck at $132.58, on Wednesday. Of the shares that came from the exercise, 209,468 were withheld to cover taxes, at $397.62 a share.

He then sold the 88,900 shares on the open market in five blocks, at weighted average prices from $394.80 to $398.20:

- 12,901 shares at $394.80.
- 12,369 shares at $395.60.
- 15,759 shares at $396.65.
- 44,879 shares at $397.61.
- 2,992 shares at $398.20.

The filing says each price is a weighted average across a range of trades, and the largest block, 44,879 shares, went at $397.61.

## What he still owns

After the transactions Schnitzer holds 314,215.499 shares: 303,124.499 directly and 11,091 indirectly through his spouse. At Friday's close of $398.28, that stake is worth about $125.1 million. The filing says he disclaims beneficial ownership of the spouse-held shares.

He unloaded 22.05% of his prior 403,115.499 shares and kept 77.95%.

## First sale in the 90-day window

Earlier filings show no other Schnitzer sale of [Travelers](https://www.bullished.co/tag/trv/) stock since July 25\. This is the only sale filing in that stretch, covering 88,900 shares and $35.3 million.

Travelers shares were up 39.8% this year as of Thursday's close, and the stock sits near its 52-week high.

The Friday close of $398.28 sits just above the $397.61 price at which the largest block of Schnitzer's shares sold.

### Sources

- [Form 4 — Alan D Schnitzer (TRV)](https://www.sec.gov/Archives/edgar/data/0001397350/000008631226000190/xslF345X06/form4.xml?ref=bullished.co) — SEC EDGAR

### More on Travelers Companies

- [Travelers CEO Alan Schnitzer Files To Sell 88,900 TRV Shares Worth $35.3 Million](https://www.bullished.co/travelers-ceo-alan-schnitzer-files-to-sell-88-900-trv-shares-worth-35-3-million-b73b0bc4/)
- [Travelers CEO Won't Call A Bottom In Commercial Pricing, Won't Give A 2027 Growth Number](https://www.bullished.co/travelers-ceo-wont-call-a-bottom-in-commercial-pricing-wont-give-a-2027-growth-number-649546a4/)
- [Travelers Core Earnings Hit $9.18 A Share As A $295 Million Asbestos Charge Sits Inside Reserve Gains](https://www.bullished.co/travelers-core-earnings-hit-9-18-a-share-as-a-295-million-asbestos-charge-sits-inside-5f3116c7/)

[All Travelers Companies (TRV) coverage →](https://www.bullished.co/tag/trv/)