[Form 4] The Hanover Insurance Group, Inc. Insider Trading Activity

Rhea-AI Filing Summary

UFP Industries, Inc. (UFPI) – Form 4 filing dated 06/30/2025

Executive Chairman and Director Matthew J. Missad reported the acquisition of 14 phantom stock units under the company’s Deferred Compensation Plan. Each unit is convertible into one share of UFPI common stock. Following the transaction, Missad now holds 93,408 phantom stock units. The units were credited at an underlying share price reference of $99.36, and will be settled in common shares upon death, disability, or retirement, in accordance with plan terms. No open-market purchases or sales of common stock were disclosed, and there were no changes in direct share ownership.

This filing represents a routine, compensation-related accrual rather than a discretionary market transaction. The incremental 14-unit addition (~0.015% of Missad’s total derivative holdings) is immaterial to UFPI’s share count and insider ownership structure, but it does continue to align executive incentives with long-term shareholder value.

Insights

Financial Analyst

TL;DR: Routine deferred-comp accrual; negligible impact on valuation or insider-sentiment signals.

The Form 4 shows Missad receiving 14 phantom stock units through UFPI’s Deferred Compensation Plan. Because these units are automatically credited on a periodic basis and are not open-market buys, they do not reflect an active bullish stance. The addition raises his derivative stake to 93,408 units, but the marginal increase is de minimis versus UFPI’s 62 million shares outstanding. No corresponding sale occurred, so there is no negative read-through either. From a governance perspective, continued accrual supports pay-for-performance alignment, yet investors should view this filing as non-impactful to the equity story.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Salvatore Bryan J

(Last) (First) (Middle)

C/O THE HANOVER INSURANCE GROUP, INC.

440 LINCOLN STREET

(Street)

WORCESTER MA 01653

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
HANOVER INSURANCE GROUP, INC. [ THG ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Executive Vice President

3. Date of Earliest Transaction (Month/Day/Year)
06/27/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	06/27/2025		A(1)		29.061	A	$0	25,892.649	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

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 RSUs vest on the third anniversary of the date of grant of the original underlying RSUs.

	/s/ Lindsay L. Katz pursuant to Confirming Statement	06/30/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did UFPI insider Matthew J. Missad report in the latest Form 4?

He acquired 14 phantom stock units under the company’s Deferred Compensation Plan on 06/30/2025.

How many phantom stock units does Missad now hold after the transaction?

Following the accrual, he holds 93,408 phantom stock units.

Was there any open-market purchase or sale of UFPI common shares?

No. The filing only covers a deferred-compensation accrual; no common stock trades were reported.

At what reference price were the phantom units credited?

The units were credited at an underlying share price of $99.36.

When will UFPI phantom stock units convert into common shares?

They convert on a 1-for-1 basis upon the reporting person’s death, disability, or retirement, per plan terms.