HANOVER INSURANCE GROUP, INC. 4
4 · HANOVER INSURANCE GROUP, INC. · Filed Jan 21, 2015
Insider Transaction Report
Form 4
Greenfield David B
Executive Vice President
Transactions
- Award
Common Stock
2015-01-19+11,250→ 49,006 total - Tax Payment
Common Stock
2015-01-20$69.64/sh−1,267$88,234→ 45,908 total - Tax Payment
Common Stock
2015-01-20$69.64/sh−1,831$127,511→ 47,175 total
Footnotes (3)
- [F1]On January 20, 2012, the Reporting Person was granted 7,500 (target) performance-based restricted stock units ("PBRSUs") pursuant to the Issuer's 2006 Long-Term Incentive Plan. The PBRSUs were subject to both a time-based and a performance condition, and the actual award could be as low as zero and as high as 150% of target depending on the level of performance achieved. On January 19, 2015, the Compensation Committee determined that the level of performance achieved entitled the holders of the PBRSUs to 150% of their target award. Accordingly, on January 19, 2015, the PBRSUs' performance criteria vested, and the PBRSUs converted into the number of restricted stock units indicated on this Form 4. 50% of the restricted stock units vest on each of the third and fourth anniversaries of the date of grant.
- [F2]On January 20, 2015, 50% of the restricted stock units described in Footnote 1 vested. Represents shares forfeited to pay withholding taxes upon the vesting of these restricted stock units.
- [F3]Represents shares that were forfeited to pay withholding taxes upon the vesting of restricted stock units that were previously granted by the Issuer.