Company: HIG-PG
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000874766-25-000023
Chunk: 1564

Company: HARTFORD INSURANCE GROUP, INC.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 2
Chunk 1564
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 sense, the period of time that options are expected to be outstanding. The risk-free rate for periods within the contractual life of the option is based on the U.S. Constant Maturity Treasury yield curve in effect at the time of grant. Stock Options Valuation Assumptions For the years ended December 31, 202420232022Expected dividend yield1.8%2.0%2.3%Expected annualized spot volatility19.2 %-22.7%24.5 %-26.0%28.3 %-29.6%Weighted average annualized volatility21.7%25.4%28.8%Risk-free spot rate4.3 %-5.5%3.8 %-5.1%(0.04)%-2.0%Expected term7.4 years6.7 years6.4 yearsNon-qualified Stock Option Activity Under the Stock Incentive PlanNumber of Options(in thousands)WeightedAverageExercise PriceWeightedAverageRemainingContractualTermAggregateIntrinsic ValueFor the year ended December 31, 2024Outstanding at beginning of year6,071 $55.92 Granted270 $95.74 Exercised(1,823)$50.45 Forfeited— $— Expired— $— Outstanding at end of year4,518 $60.51 5.4$221 Outstanding, fully vested and expected to vest4,494 $60.40 5.4$221 Exercisable at end of year3,711 $55.85 4.8$199 Aggregate intrinsic value represents the value of the Company's closing stock price on the last trading day of the period in excess of the exercise price multiplied by the number of options outstanding or exercisable. The aggregate intrinsic value excludes the effect of stock options that have a zero or negative intrinsic value. The weighted average grant-date fair value per share of options granted during the years ended December 31, 2024, 2023, and 2022 was $25.77, $21.09 and $16.56, respectively. For the years ended December 31, 2024, 2023, and 2022, The Hartford received $92, $47, and $26, respectively, in cash from exercised stock options. The Hartford recognized tax benefits of $4, $3, and $3 on stock options exercised for the