RSU dividend equivalents lift Hanover (THG) EVP share holdings
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Hanover Insurance Group Executive Vice President Salvatore J. Bryan received a small stock-based compensation award. He acquired 24.576 shares of common stock in the form of restricted stock units granted at no cash cost, tied to dividend equivalent rights on previously granted RSUs.
These RSUs were issued under Hanover’s 2022 Long-Term Incentive Plan. They will vest on the third anniversary of the grant date of the original underlying RSUs. Following this grant, Bryan directly holds 29,093.852 shares of common stock, reflecting his updated equity position.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
Salvatore Bryan J
Role
Executive Vice President
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 24.576 | $0.00 | -- |
Holdings After Transaction:
Common Stock — 29,093.852 shares (Direct)
Footnotes (1)
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Key Figures
RSUs granted: 24.576 shares
Grant price: $0.0000 per share
Holdings after transaction: 29,093.852 shares
3 metrics
RSUs granted
24.576 shares
Restricted stock units from dividend equivalent rights
Grant price
$0.0000 per share
Compensation award, no cash paid by insider
Holdings after transaction
29,093.852 shares
Direct common stock owned after RSU grant
Key Terms
restricted stock units, dividend equivalent rights, 2022 Long-Term Incentive Plan, vest
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.
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")"
vest financial
"Such RSUs vest on the third anniversary of the date of grant"
A vest is the process by which an employee earns the right to receive certain benefits or ownership interests, such as stock or retirement funds, over time. It’s similar to earning a reward gradually, ensuring that the benefit becomes fully yours only after a set period or meeting specific conditions. This makes it important for investors because it determines when they can actually claim or use those benefits.
FAQ
What did Hanover Insurance Group (THG) disclose in this Form 4?
Hanover Insurance Group reported that Executive Vice President Salvatore J. Bryan received 24.576 restricted stock units as a stock-based compensation award. The RSUs relate to dividend equivalent rights on prior grants and increase his direct common stock holdings to 29,093.852 shares.
What are the terms of the new RSUs granted to the Hanover EVP?
The new RSUs granted to the Hanover Executive Vice President arise from dividend equivalent rights on prior RSUs and were issued under the 2022 Long-Term Incentive Plan. They will vest on the third anniversary of the original RSU grant date, subject to the plan’s standard conditions.
Was cash paid for the RSUs reported in Hanover’s Form 4?
No cash was paid for these RSUs. The Form 4 shows a price per share of 0.0000 because the 24.576 restricted stock units were granted as a compensation award, representing dividend equivalent rights on previously granted RSUs, rather than a market purchase.
Under which plan were the new Hanover (THG) RSUs granted?
The new restricted stock units were granted under Hanover’s 2022 Long-Term Incentive Plan. They arise from the accrual of dividend equivalent rights linked to RSUs previously granted under this plan, and they follow the same vesting schedule tied to the original RSU grant date.