Company: HIG-PG
Filing Date: 2025-04-10
Form Type: DEF 14A
Source: 0000874766-25-000040
Chunk: 95

Company: HARTFORD INSURANCE GROUP, INC.
Filing Date: 2025-04-10
Form: DEF 14A
Chunk 95
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) or (iv) above.

| 2025 Proxy Statement |     | 87 |

| APPENDIX B |

Under the 2025 LTI Stock Plan, awards will not automatically vest and become exercisable upon a Change of Control if the Compensation Committee reasonably determines in good faith prior to the occurrence of the Change of Control that the awards will be assumed or replaced with an Alternative Award immediately following the Change of Control. Such an Alternative Award must:

• Relate to a security that is traded on a recognized U.S. national securities exchange;

• Provide rights and entitlements that are substantially equivalent to or better than the rights and entitlements under the existing award (in the case of existing Performance-Based Awards, the performance goals must be deemed satisfied at target (or, if greater, as specified by the Compensation Committee), and the Alternative Award must be in the form of restricted stock or restricted stock units, without a performance objective, unless otherwise determined by the Compensation Committee);

• Be of substantially equivalent economic value; and

• Provide that awards become fully vested and exercisable if the participant’s employment is terminated within two years following the Change of Control without Cause or by the participant for Good Reason. For this purpose, “Good Reason” and “Cause” are as defined in the company’s applicable severance pay plan or, if no such agreement or plan exists or does not defined such terms, as defined in the applicable award agreement.

In the event that awards were not assumed or replaced with such Alternative Awards, then, upon the Change of Control, the following would occur:

• Each option and SAR outstanding would generally immediately vest and become exercisable to the full extent of the original grant for the remainder of its term. The Compensation Committee could, in its discretion, provide that each option and SAR be surrendered or exercised for cash equal to the excess of the Fair Market Value of the Common Stock at the time of exercise over the exercise price;

• The restrictions applicable to shares of Restricted Stock and RSUs held by participants pursuant to the 2025 LTI Stock Plan would lapse upon the occurrence of the Change of Control, and immediately following the Change in Control participants would receive unrestricted certificates for all shares of Restricted Stock or RSUs. The Compensation Committee could, in its discretion, provide that Restricted Stock or RSUs shall be exchanged for an immediate cash payment equal to the number of outstanding shares or units multiplied by the Fair Market Value of a share of Common Stock. Distributions of awards that constituted nonqualified deferred compensation under Section 409A of the Internal