HARTFORD FINANCIAL SERVICES GROUP, INC. FILES (8-K) Disclosing Change in Directors or Principal Officers, Financial Statements and Exhibits
Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On August 15, 2022, the board of directors (the "Board") of The Hartford
Financial Services Group, Inc. (the "Company") elected Edmund Reese as director
of the Board effective on October 17, 2022. Mr. Reese was appointed to serve on
the Board's Audit Committee and its Finance, Investment and Risk Committee
effective October 17, 2022.
The Board has determined that Mr. Reese does not have a direct or indirect
interest in any transaction with the Company that would qualify as a related
party transaction under Item 404(a) of Regulation S-K, and that he meets the
applicable independence requirements of the New York Stock Exchange and the
Company's Corporate Governance Guidelines.
As compensation for the remainder of the 2022-2023 Board service year, Mr. Reese
will receive a pro rata portion of the Company's annual cash retainer for
non-management directors of $110,000 in the amount of $64,400 and a pro rata
portion of the Company's equity compensation annual retainer of $180,000 in the
form of restricted stock units valued at $105,300. The restricted stock units
will be granted on the second trading day following the filing of the Company's
Form 10-Q for the quarter ended September 30, 2022, based on the Company's
closing stock price on the grant date.
In addition, Mr. Reese will participate in other non-management director
compensation arrangements described in the Company's 2022 proxy statement,
including receiving $100,000 of Group Term Life and $750,000 of Accidental Death
and Dismemberment insurance and reimbursement for all travel expenses incurred
in connection with his Board service.
Item 9.01 Financial Statements and Exhibits
101 Cover Page Interactive Data File - the cover page XBRL tags are
embedded within the Inline XBRL document.
104 The cover page from this Current Report on Form 8-K, formatted as