Hartford (HIG) EVP has 7,074 shares withheld for RSU tax obligations
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Hartford Insurance Group EVP & Chief Information Officer Shekar Pannala reported routine equity activity related to restricted stock units. On a tax-withholding transaction, 7,074 shares of common stock were delivered to the company at $135.81 per share to cover tax obligations tied to an RSU distribution under The Hartford's 2020 Stock Incentive Plan.
After this disposition, Pannala directly holds 8,546.086 shares of common stock, 5,929.742 restricted stock units, and a stock option covering 10,081 shares at an exercise price of $140.54 expiring on February 24, 2036. One-third of this option becomes exercisable on each of February 24, 2027, 2028, and 2029. He also has approximately 293.5364 share equivalents in the company stock fund of the 401(k) plan.
Positive
- None.
Negative
- None.
Insider Trade Summary
4 transactions reported
Mixed
4 txns
Insider
Pannala Shekar
Role
EVP & Chief Information Ofc.
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Tax Withholding | Common Stock | 7,074 | $135.81 | $961K |
| holding | Stock Option | -- | -- | -- |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 8,546.086 shares (Direct, null);
Stock Option — 10,081 shares (Direct, null);
Restricted Stock Units — 5,929.742 shares (Direct, null);
Common Stock — 293.536 shares (Indirect, By 401(k) Plan)
Footnotes (1)
- Transaction involving a disposition to the Company of equity securities in satisfaction of tax withholding obligations in connection with a distribution to the reporting person of restricted stock units pursuant to The Hartford's 2020 Stock Incentive Plan. This figure represents the reporting person's approximate share equivalent holdings in The Hartford Stock Fund (the "Fund") under the Company's 401(k) plan. The Fund consists of Company common stock (typically 99% of the Fund value) and short-term investments (typically less than 1% of the Fund value) and the number of share equivalents varies depending on the performance of the Company, the overall stock market, the amount of cash awaiting investment, and the performance and amount of short-term investments held by the Fund, less any expense accrued against the Fund. The number of shares attributed to the reporting person and expressed as share equivalents is based on information furnished by the 401(k) plan administrator as of May 4, 2026. One-third of the options will become exercisable on February 24, 2027, an additional one-third of the options will become exercisable on February 24, 2028 and the remaining one-third of the options will become exercisable on February 24, 2029, the third anniversary of the grant date.
Key Figures
Tax-withheld shares: 7,074 shares at $135.81
Common stock held directly: 8,546.086 shares
Restricted stock units: 5,929.742 units
+2 more
5 metrics
Tax-withheld shares
7,074 shares at $135.81
Shares delivered to company for tax withholding on RSU distribution
Common stock held directly
8,546.086 shares
Direct Hartford common stock holdings after transaction
Restricted stock units
5,929.742 units
Direct RSU holdings following reported activity
Stock option underlying shares
10,081 shares at $140.54
Option over common stock, expiration February 24, 2036
401(k) share equivalents
293.5364 share equivalents
Holdings in The Hartford Stock Fund under 401(k) as of May 4, 2026
Key Terms
restricted stock units, tax withholding obligations, 401(k) plan, Stock Incentive Plan, +1 more
5 terms
restricted stock units financial
"distribution to the reporting person of restricted stock units pursuant to The Hartford's 2020 Stock Incentive Plan"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
tax withholding obligations financial
"disposition to the Company of equity securities in satisfaction of tax withholding obligations in connection with a distribution"
401(k) plan financial
"share equivalent holdings in The Hartford Stock Fund under the Company's 401(k) plan"
A 401(k) plan is a workplace retirement account that lets employees set aside part of their pay into a tax-advantaged savings pot, often with employers adding matching contributions — like a workplace piggy bank for future income. It matters to investors because the amount people save and how employers fund these plans influence consumer spending, corporate payroll costs and the flow of money into financial markets, which can affect stock prices and company valuations.
Stock Incentive Plan financial
"restricted stock units pursuant to The Hartford's 2020 Stock Incentive Plan"
A stock incentive plan is a company program that gives employees or directors pieces of ownership or the right to buy shares over time, similar to receiving a bonus paid in company stock instead of cash. Investors pay attention because these plans align staff incentives with long‑term company performance but can also dilute existing shareholders and affect reported profits when grants are expensed, so they influence both ownership percentages and financial results.
stock option financial
"Stock Option underlying 10,081.0000 shares of Common Stock with a 140.5400 exercise price"
A stock option is a contract that gives you the right to buy or sell a company's stock at a specific price within a certain time frame. People use them to potentially make money if the stock's price moves favorably or to protect against losses. It's like holding a coupon that can be used to buy or sell stock at a set price later on.
FAQ
What insider transaction did HIG executive Shekar Pannala report on this Form 4?
Executive Shekar Pannala reported a tax-withholding disposition, where 7,074 shares of Hartford common stock were delivered to the company. This covered tax obligations related to a distribution of restricted stock units under The Hartford's 2020 Stock Incentive Plan.
What restricted stock unit and option positions does the HIG EVP report holding?
Pannala reports holding 5,929.742 restricted stock units directly and a stock option over 10,081 shares of common stock with a $140.54 exercise price. The option expires on February 24, 2036, with vesting in three equal annual installments starting in 2027.
How do the stock options held by HIG EVP Shekar Pannala vest over time?
The reported stock option vests in three stages: one-third becomes exercisable on February 24, 2027, another third on February 24, 2028, and the final third on February 24, 2029. All remaining unexercised options expire on February 24, 2036.