Company: HIG-PG
Filing Date: 2025-04-10
Form Type: DEF 14A
Source: 0000874766-25-000040
Chunk: 89

Company: HARTFORD INSURANCE GROUP, INC.
Filing Date: 2025-04-10
Form: DEF 14A
Chunk 89
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 for awards under the 2025 LTI Stock Plan and such shares are included in the total number of shares avail able under the 2025 LTI Stock Plan described above. To the extent that any award under the 2020 Stock Incentive Plan is forfeited, terminated, surrendered, exchanged, expires, or is settled in cash in lieu of stock (including to effect tax withholding), the shares subject to such award (or the relevant portion thereof) shall be available for awards under the 2025 LTI Stock Plan and such shares shall be added to the total number of shares available under the 2025 LTI Stock Plan.

The 2025 LTI Stock Plan provides that the maximum number of shares that may be granted to any participant with respect to awards shall be 3,000,000 in any calendar year. The 2025 LTI Stock Plan further provides that the Compensation Committee may provide for awards in excess of the above limitations at its discretion in any calendar year in which (i) a participant’s employment with the company commences or (ii) the participant is promoted to a more senior position with the company.

The aggregate awards granted to any non-employee director with respect to any calendar year, solely with respect to his or her services a member of the Board, taken together with any cash fees paid during the calendar year to the director, may not exceed $750,000 in total value (calculating the value of any such awards based on the grant date). The Board may make exceptions to this limit for individual non-employee directors in extraordinary circumstances, as the Board may determine in its discretion, provided that the non-employee director receiving such additional compensation may not participate in the decision to award such compensation.

In connection with a merger or consolidation of an entity with the company or the acquisition by the company of property or stock of an entity, the company may grant substitute awards for options or other stock or stock-based awards granted by such entity on terms determined by the Compensation Committee. Such substitute awards shall not count against the maximum number of shares that may be issued or any individual sub-limits of the 2025 LTI Stock Plan except as otherwise required by the Internal Revenue Code.

Purpose of the 2025 LTI Stock Plan. The company benefits when employees’ interests are aligned with those of non-employee shareholders through the ownership of company stock. The company desires to preserve its flexible program of stock-based awards designed to retain exceptional employees and to motivate their efforts on behalf of the company. The company believes that