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HANOVER INSURANCE GROUP, INC.·4

Feb 26, 4:45 PM ET

LAVEY RICHARD W 4

4 · HANOVER INSURANCE GROUP, INC. · Filed Feb 26, 2026

Research Summary

AI-generated summary of this filing

Updated

Hanover (THG) EVP Richard W. Lavey Receives Stock Awards

What Happened

  • Richard W. Lavey, Executive Vice President of Hanover Insurance Group, received a total of 16,796 restricted stock units (RSUs)/awards on February 24, 2026. The awards are reported as acquisitions at $0 per share because they are grants (not cash purchases). The grants break down as 2,882; 1,857; 2,089; and 9,968 units (the last is reported as a derivative security/performance-related award).
  • These awards were originally granted on February 27, 2023 under Hanover’s 2022 Long-Term Incentive Plan and remain subject to time- and/or performance-based vesting; several tranches vest on February 27, 2026 once applicable performance conditions are certified.

Key Details

  • Transaction date: February 24, 2026; Report filed: February 26, 2026 (timely filing).
  • Price: $0.00 per share (grant/award).
  • Total units granted: 16,796 RSUs (2,882 + 1,857 + 2,089 + 9,968).
  • Vesting/footnotes:
    • F1: PBRSUs tied to three-year adjusted return on equity, certified at 150% of target (plus dividend equivalents); vests Feb 27, 2026, subject to time vesting.
    • F2: PBRSUs tied to three-year relative total shareholder return, certified at 100% of target (plus dividend equivalents); vests Feb 27, 2026, subject to time vesting.
    • F3: Grant of time-based RSUs that vest on the third anniversary of the Feb 27, 2023 grant (i.e., Feb 27, 2026).
    • F4: Notes typical option vesting schedule (one-third on each of first three anniversaries) — informational about plan terms.
  • Shares owned after the transaction: not specified in the excerpts provided.

Context

  • These are awards/grants (not purchases or sales), so they do not reflect an immediate cash outlay or sale by the insider. Performance-based RSUs are reported as derivative securities because payout depends on future performance conditions.
  • Grants reported at $0 are standard for equity awards; their ultimate value to the insider depends on future share price and satisfaction of vesting conditions.

Insider Transaction Report

Form 4
Period: 2026-02-24
HANOVER INSURANCE GROUP, INC.THG
LAVEY RICHARD W
Executive Vice President
Transactions
  • Award

    Common Stock

    [F1]
    2026-02-24+2,882→ 33,655.879 total
  • Award

    Common Stock

    [F2]
    2026-02-24+1,857→ 35,512.879 total
  • Award

    Common Stock

    [F3]
    2026-02-24+2,089→ 37,601.879 total
  • Award

    Common Stock Option (right to buy)

    [F4]
    2026-02-24+9,968→ 9,968 total
    Exercise: $173.56Exp: 2036-02-24→ Common Stock (9,968 underlying)
Footnotes (4)
  • [F1]On February 27, 2023, the Reporting Person was granted performance-based restricted stock units ("PBRSUs") pursuant to the Issuer's 2022 Long-Term Incentive Plan ("2022 LTIP"). These PBRSUs were subject to a performance-based vesting condition related to three-year average adjusted return on equity and a time-based vesting condition, and also provided for the accumulation of dividend equivalent rights. On February 24, 2026, the performance condition for this award was certified at 150% of the target award (as adjusted for accumulated dividend equivalent rights). This award remains subject to the time-based vesting condition and will vest on February 27, 2026.
  • [F2]On February 27, 2023, the Reporting Person was granted PBRSUs pursuant to the Issuer's 2022 LTIP. These PBRSUs were subject to a performance-based vesting condition related to three-year relative total shareholder return and a time-based vesting condition, and also provided for the accumulation of dividend equivalent rights. On February 24, 2026, the performance condition for this award was certified at 100% of the target award (as adjusted for accumulated dividend equivalent rights). This award remains subject to the time-based vesting condition and will vest on February 27, 2026.
  • [F3]Grant of restricted stock units under the Issuer's 2022 LTIP. Such units vest on the third anniversary of the date of grant.
  • [F4]Such options vest as to one-third of the shares on each of the first three anniversaries of the grant date.
Signature
/s/ Lindsay L. Katz pursuant to Confirming Statement|2026-02-26

Documents

1 file
  • 4
    ownership.xmlPrimary

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