Hanover Insurance (THG) director granted RSUs tied to dividend equivalents
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
LANE KATHY S reported acquisition or exercise transactions in this Form 4 filing.
Hanover Insurance Group director Kathy S. Lane reported a small equity award. She received 3.767 shares of common stock in the form of restricted stock units under the company’s 2022 Long-Term Incentive Plan, tied to dividend equivalent rights on previously granted RSUs.
After this grant, Lane holds 2,772.767 shares of common stock directly. Footnotes state the award will vest on the earlier of one year from the original RSU grant date or the next annual meeting, and that she has elected to defer the grant upon vesting under a deferral agreement. The disclosure also notes an additional 4,829 shares held indirectly in a Rabbi Trust pursuant to deferral agreements.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
LANE KATHY S
Role
null
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 3.767 | $0.00 | -- |
Holdings After Transaction:
Common Stock — 2,772.767 shares (Direct, null)
Footnotes (1)
- 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 units vest on the earlier of the one-year anniversary of the date of grant of the original underlying RSUs 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 4,829 shares held indirectly in a Rabbi Trust pursuant to deferral agreements.
Key Figures
RSU grant size: 3.767 shares
Direct holdings after transaction: 2,772.767 shares
Rabbi Trust indirect holdings: 4,829 shares
+1 more
4 metrics
RSU grant size
3.767 shares
Restricted stock units from dividend equivalent rights on prior RSUs
Direct holdings after transaction
2,772.767 shares
Common stock held directly by Kathy S. Lane after grant
Rabbi Trust indirect holdings
4,829 shares
Common stock held indirectly in a Rabbi Trust under deferral agreements
Transaction price per share
$0.0000 per share
Compensation-related RSU acquisition, not an open-market purchase
Key Terms
restricted stock units ("RSUs"), dividend equivalent rights, 2022 Long-Term Incentive Plan, Rabbi Trust, +1 more
5 terms
restricted stock units ("RSUs") financial
"Grant of restricted stock units ("RSUs") under the Issuer's 2022 Long-Term Incentive Plan"
Restricted stock units (RSUs) are a company promise to give an employee shares of stock (or cash equivalent) in the future, but only after certain conditions—usually staying with the company for a set time or hitting performance goals—are met. Investors watch RSUs because when they vest they increase the number of shares outstanding and can lead insiders to sell shares, affecting share price, company dilution and the true cost of employee pay.
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.
2022 Long-Term Incentive Plan financial
"under the Issuer's 2022 Long-Term Incentive Plan ("2022 LTIP")"
Rabbi Trust financial
"Does not include 4,829 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.
deferral agreement financial
"The Reporting Person has elected to defer such grant upon vesting pursuant to a deferral agreement."
FAQ
What insider transaction did Hanover Insurance Group (THG) report for Kathy S. Lane?
Hanover Insurance Group reported that director Kathy S. Lane received 3.767 restricted stock units. These units relate to dividend equivalent rights on earlier RSU grants under the 2022 Long-Term Incentive Plan and increase her directly held common stock position to 2,772.767 shares.
When do the new RSUs for Hanover Insurance Group (THG) director Kathy S. Lane vest?
The RSUs vest on the earlier of the one-year anniversary of the original underlying RSU grant date or the date of Hanover Insurance Group’s next annual meeting. This schedule is specified in the footnote describing the dividend-equivalent-related restricted stock unit grant terms.
What does the deferral agreement mean in the Hanover Insurance Group (THG) Form 4?
The Form 4 notes that Kathy S. Lane elected to defer the grant upon vesting under a deferral agreement. This means that once the RSUs vest, receipt of the underlying shares or value is postponed according to her prearranged deferral election terms.