Company: HIG-PG
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000874766-25-000023
Chunk: 773

Company: HARTFORD INSURANCE GROUP, INC.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 9B
Chunk 773
---
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 years ended December 31, 2024, 2023, and 2022, respectively. The total intrinsic value of options exercised during the years ended December 31, 2024, 2023 and 2022 was $99, $35, and $24, respectively.Share AwardsShare awards granted under the Stock Incentive Plan and outstanding include restricted stock units and performance shares. Performance shares become payable within a range of 0% to 200% of the number of shares initially granted based upon the attainment of specific performance goals achieved at the end of a performance period of three years. For the 2021 grant year only, the grant was subject to a modifier that increased final performance by 10% based upon results against predetermined year-end 2023 representation goals for women and people of color in executive level roles.

211

|Index to Consolidated Financial Statements and SchedulesTable of ContentsNote 19 - Stock Compensation PlansTHE HARTFORD INSURANCE GROUP, INC.NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)

Performance share awards that are not dependent on market conditions are valued equal to the closing stock price on the New York Stock Exchange for the Company’s common stock on the date of grant. Stock compensation expense for these performance share awards without market conditions is based on a current estimate of the number of awards expected to vest based on the performance level achieved and, therefore, may change during the performance period as new estimates of performance are available.Other performance share awards or portions thereof