Hanover (NYSE: THG) EVP receives RSU dividend equivalents grant
Rhea-AI Filing Summary
Kerrigan Dennis Francis reported acquisition or exercise transactions in this Form 4 filing.
HANOVER INSURANCE GROUP, INC. Executive Vice President Dennis Francis Kerrigan reported an automatic equity award rather than a market trade. He received 15.220 restricted stock units as dividend-equivalent RSUs under the 2022 Long-Term Incentive Plan, tied to previously granted RSUs.
These additional RSUs will vest on the third anniversary of the original RSU grant date, following the same schedule as the underlying award. After this grant, Kerrigan’s direct ownership stands at 12,002.941 shares of common stock, reflecting routine, compensation-related share accumulation.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Buyer: 15.22 shares
Net Buy
1 txn
Insider
Kerrigan Dennis Francis
Role
Executive Vice President
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 15.22 | $0.00 | $0.00 |
Holdings After Transaction:
Common Stock — 12,002.941 shares (Direct)
Footnotes (1)
- F1. Grant of restricted stock units ("RSUs") under the Issuer's 2022 Long-Term Incentive Plan ("2022 LTIP") in connection with the accrual of dividend equivalent rights associated with RSUs previously granted under the Issuer's 2022 LTIP. Such RSUs vest on the third anniversary of the date of grant of the original underlying RSUs.
Key Figures
RSUs granted: 15.220 RSUs
Grant price: $0.0000 per unit
Shares held after: 12,002.941 shares
+2 more
5 metrics
RSUs granted
15.220 RSUs
Dividend-equivalent RSUs under 2022 LTIP
Grant price
$0.0000 per unit
Non-cash award, compensation-related
Shares held after
12,002.941 shares
Direct common stock ownership post-grant
Vesting schedule
Third anniversary
Vests on third anniversary of original RSU grant date
Role
Executive Vice President
Officer title of reporting person
Key Terms
restricted stock units, RSUs, 2022 Long-Term Incentive Plan, dividend equivalent rights
4 terms
restricted stock units financial
"Grant of restricted stock units ("RSUs") 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.
RSUs financial
"Grant of restricted stock units ("RSUs") under the Issuer's 2022 Long-Term Incentive Plan"
RSUs, or restricted stock units, are a form of company shares given to employees as part of their compensation. They are typically awarded with certain restrictions, such as a waiting period before they can be fully owned or sold, similar to earning a gift that becomes fully yours over time. For investors, RSUs can impact a company's stock offerings and reflect how much the company relies on stock-based incentives to attract and retain talent.
2022 Long-Term Incentive Plan financial
"under the Issuer's 2022 Long-Term Incentive Plan ("2022 LTIP")"
dividend equivalent rights financial
"in connection with the accrual of dividend equivalent rights associated with RSUs previously granted"
Dividend equivalent rights are promises that mirror the cash payments shareholders get from a company’s profits, but they are paid to holders of certain awards (like stock options or restricted stock units) rather than to actual shares. Think of them as a paycheck top‑up that matches dividends while the award is not yet a real stock, and they matter to investors because they add to employee compensation costs and potential share dilution, affecting company profitability and per‑share value.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What did THG executive Dennis Francis Kerrigan report on this Form 4?
Dennis Francis Kerrigan reported receiving 15.220 restricted stock units as a compensation-related equity award. These RSUs were granted as dividend equivalents tied to prior RSU grants under Hanover’s 2022 Long-Term Incentive Plan, not through an open-market stock purchase.
What is the nature of the 15.220 THG RSUs granted to Kerrigan?
The 15.220 RSUs are dividend-equivalent units granted under Hanover’s 2022 Long-Term Incentive Plan. They accrue in connection with RSUs previously granted to Kerrigan, mirroring dividends that would have been paid on the underlying common shares during the vesting period.
When will Dennis Francis Kerrigan’s newly granted THG RSUs vest?
The newly granted RSUs will vest on the third anniversary of the original underlying RSU grant date. They follow the same vesting schedule as the earlier RSU award, aligning these dividend-equivalent units with the long-term incentive structure already in place.
Was cash paid for the THG RSUs reported by Dennis Francis Kerrigan?
No cash was paid by Dennis Francis Kerrigan for these RSUs; the price per unit is reported as 0.0000. The award represents a non-cash, compensation-related equity grant in the form of dividend-equivalent restricted stock units under the company’s long-term incentive plan.
Are the THG RSUs in Kerrigan’s Form 4 part of a long-term incentive plan?
Yes, the RSUs were granted under Hanover’s 2022 Long-Term Incentive Plan. They arise from dividend equivalent rights on RSUs previously awarded, reinforcing the company’s long-term, stock-based compensation framework for senior executives rather than reflecting open-market trading activity.