Director Cynthia Egan (THG) receives 843-share equity grant at Hanover Insurance
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
HANOVER INSURANCE GROUP, INC. director Cynthia Egan reported receiving an equity award in the form of 843 shares of common stock at $0.00 per share, classified as a grant or award acquisition. This grant was issued as restricted stock units under the company’s 2022 Long-Term Incentive Plan.
The units vest on the earlier of the one-year anniversary of the grant date or the next annual meeting, and Egan has elected to defer the grant upon vesting under a deferral agreement. After this award, she directly owns 10,202 shares of common stock, and a footnote states this does not include 977 shares held indirectly in a Rabbi Trust under deferral agreements.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
Egan Cynthia
Role
null
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 843 | $0.00 | -- |
Holdings After Transaction:
Common Stock — 10,202 shares (Direct, null)
Footnotes (1)
- Grant of restricted stock units under the Issuer's 2022 Long-Term Incentive Plan. Such units vest on the earlier of the one-year anniversary of the date of grant or the date of the next annual meeting. The Reporting Person has elected to defer such grant upon vesting pursuant to a deferral agreement. Does not include 977 shares held indirectly in a Rabbi Trust pursuant to deferral agreements.
Key Figures
Equity grant size: 843 shares
Grant price per share: $0.00 per share
Direct holdings after grant: 10,202 shares
+1 more
4 metrics
Equity grant size
843 shares
Restricted stock unit grant on transaction date
Grant price per share
$0.00 per share
Reported transaction price for award
Direct holdings after grant
10,202 shares
Total common stock directly owned following transaction
Indirect Rabbi Trust holdings
977 shares
Shares held indirectly in a Rabbi Trust under deferral agreements
Key Terms
restricted stock units, 2022 Long-Term Incentive Plan, deferral agreement, Rabbi Trust
4 terms
restricted stock units financial
"Grant of restricted stock units under the Issuer's 2022 Long-Term 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.
2022 Long-Term Incentive Plan financial
"Grant of restricted stock units under the Issuer's 2022 Long-Term Incentive Plan."
deferral agreement financial
"The Reporting Person has elected to defer such grant upon vesting pursuant to a deferral agreement."
Rabbi Trust financial
"Does not include 977 shares held indirectly in a Rabbi Trust pursuant to deferral agreements."
A rabbi trust is a special account a company sets up to hold promised future pay for executives, like bonus or retirement money, so those employees can see there are funds earmarked for them. It matters to investors because it signals the company’s commitment to keep key people, but the money is still part of the company’s assets and can be claimed by creditors if the company goes bankrupt—think of it as a labeled jar that isn’t completely off-limits.
FAQ
What did Cynthia Egan report in this THG Form 4 filing?
Cynthia Egan reported an equity award of 843 shares of Hanover Insurance Group common stock as a grant or award acquisition. The filing shows this award increased her directly held shares to 10,202, excluding additional shares held indirectly in a Rabbi Trust.
What plan governs Cynthia Egan’s new THG restricted stock units?
The new restricted stock units were granted under Hanover Insurance Group’s 2022 Long-Term Incentive Plan. This plan provides equity-based compensation, and the units in this filing are structured to vest based on time and the company’s annual meeting schedule.
When do Cynthia Egan’s THG restricted stock units vest?
The restricted stock units vest on the earlier of the one-year anniversary of the grant date or the date of the next annual meeting. This time-based vesting schedule ties the award to the company’s regular governance calendar and director service period.
Did Cynthia Egan defer her Hanover Insurance Group equity award?
Yes. The filing states that Cynthia Egan elected to defer the grant upon vesting under a deferral agreement. This means the delivery of shares or associated value is postponed consistent with the company’s deferral program terms and her election.