Company: HIG-PG
Filing Date: 2025-04-10
Form Type: DEF 14A
Source: 0000874766-25-000040
Chunk: 88

Company: HARTFORD INSURANCE GROUP, INC.
Filing Date: 2025-04-10
Form: DEF 14A
Chunk 88
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 Applicability. The 2025 LTI Stock Plan is intended to replace The Hartford 2020 Stock Incentive Plan, as amended and restated effective October 2, 2023 (the “2020 Stock Incentive Plan”). Upon approval and adoption of the 2025 LTI Stock Plan, no further awards will be made under the 2020 Stock Incentive Plan. The material terms of the 2025 LTI Stock Plan are similar to the terms of the 2020 Stock Incentive Plan, with minor refinements to more explicitly capture current administrative practices. Changes include but are not limited to: 1) with respect to performance share awards that, after the end of the 3-year performance period, the Compensation Committee certifies the performance results before awards are paid out; 2) when awards are granted that (except in the case of senior executives) the Compensation Committee approves a pool for annual LTI awards for other recipients, rather than each individual recipient's award; 3) clarifies that vested, forfeited, and/or cancelled awards will not be reinstated upon rehire; 4) clarifies that certain eligibility determinations can be delegated; and 5) clarifies that, in the event of a change in control where existing performance-based awards are not assumed or replaced, performance shall be deemed satisfied at the greater of target or the percentage of performance measures achieved upon the change in control.

Shares Subject to 2025 LTI Stock Plan. If the 2025 LTI Stock Plan is approved by shareholders, the maximum number of shares that may be issued in connection with the grant of o ptions and other stock-based or stock-denominated awards is 8,500,000 (approximately 3.0% of the total 288,025,305 outstanding common shares of the company as of February 28, 2025, which represents an increase of approximately 3,026,664 shares over the number of shares authorized but not issued under the 2020 Stock Incentive Plan. For purposes of applying this limit in the context of a Performance-Based Award, the number of shares of common stock equal to the value of the award is based upon the target payout, in each case determined as of the date on which such award is granted. To the extent that shares of common stock remain available for issuance under the 2020 Stock Incentive Plan but are not subject to outstanding awards on May 21, 2025, such shares shall be available