Company: HIG-PG
Filing Date: 2025-04-10
Form Type: DEF 14A
Source: 0000874766-25-000040
Chunk: 71

Company: HARTFORD INSURANCE GROUP, INC.
Filing Date: 2025-04-10
Form: DEF 14A
Chunk 71
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 recommends that shareholders vote "AGAINST" this Proposal for the following reasons:                                                           
 •The Hartford already provides a special meeting right at a threshold that better protects the long-term interests of the Company and its shareholders.               
 •The Hartford’s existing special meeting right is more consistent with market practice and shareholder feedback.                                                      
 •The Hartford is committed to strong corporate governance practices and provides shareholders with other channels to raise concerns outside the annual meeting cycle. |

| 2025 Proxy Statement |     | 71 |

| COMPENSATION MATTERS |

After careful consideration, the Board of Directors has concluded that the Proposal is unnecessary and not in the best interests of the Company or its shareholders.

The Hartford already provides a special meeting right at a threshold that better protects the long-term interests of the Company and its shareholders.

In February 2025, the Board amended the Company’s By-Laws to allow one or more shareholders who own at least 25% of the Company’s common stock, and who satisfy certain procedures, to require that the Company call a special meeting of shareholders. The Board believes its existing special meeting right at a 25% ownership threshold strikes a reasonable and appropriate balance between empowering shareholders with an important right and protecting against unnecessary expense or distraction that could arise when holders of a small number of shares seek to call a special meeting of shareholders.

Special meetings are expensive, disruptive, and time-consuming undertakings that may divert Company resources and the Board and management’s focus from the Company’s business objectives. The Board therefore believes that special meetings of shareholders should only be called in exceptional circumstance to advance the long-term interests of shareholders. Lowering the ownership threshold for the special meeting right to 10% would increase the risk that a small minority of shareholders with narrow interests that do not reflect the views of most other shareholders could call special meetings to advance their own particular, short-term interests that are not aligned with the long-term interests of the Company and its other shareholders.

The Company’s existing 25% ownership threshold helps to mitigate the risk of a special meeting being called when there is not meaningful support for the meeting among the Company’s shareholders.

The Hartford’s existing special meeting right is more consistent with market practice and shareholder feedback.

Prior to adopting a special meeting right at a 25% ownership threshold, the Board considered, among other factors, the results of benchmarking data, which showed that a 25% ownership threshold is the most common approach among S&P 500 companies that offer the special meeting right, and prevalent among the Company’s peers. The