Article 5.02 Departure of directors or certain officers; Election of directors; Appointment of certain leaders; Compensatory provisions of certain executives.
On August 15, 2022the board of directors (the “Board”) of Hartford Financial Services Group, Inc. (the “Company”) elected Edmond Reese as a director of the Board from October 17, 2022. Mr. Reese was appointed to serve on the Audit Committee of the Board of Directors and its Finance, Investment and Risk Committee
efficient October 17, 2022.
The Council determined that Mr. Reese has no direct or indirect interest in a transaction with the Company that would be considered a related party transaction under Section 404(a) of Regulation SK, and meets the independence requirements applicable to 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-executive directors of $110,000 in an amount of $64,400 and a pro rata portion of the Company’s annual compensation in shares. $180,000 in the form of restricted shares with a value of $105,300. 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, 2022based on the Company’s closing share price on the grant date.
In addition, Mr. Reese will participate in other non-executive director compensation arrangements described in the Company’s 2022 Proxy Circular, including receiving $100,000 group term life insurance and $750,000 accidental death and dismemberment insurance and reimbursement of all travel expenses incurred while serving on the Council.
Item 9.01 Financial statements and supporting documents
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
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