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HIG > SEC Filings for HIG > Form 8-K on 9-Jan-2014All Recent SEC Filings




Change in Directors or Principal Officers

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

(d) On January 8, 2014, the board of directors (the "Board") of The Hartford Financial Services Group, Inc. (the "Company") elected Julie Richardson as a new director of the Board, effective immediately. Ms. Richardson was appointed to serve on the Board's Audit Committee and Finance, Investment and Risk Management Committee ("FIRMCo").

The Board has determined that Ms. Richardson 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 meets the applicable independence requirements of the New York Stock Exchange and the Company's Corporate Governance Guidelines.

Ms. Richardson will receive, as part of her compensation, $2,500 for each Board meeting attended and, with the exception of FIRMCo, $2,000 for each committee meeting attended. The Company also will provide Ms. Richardson with $100,000 of Group Term Life and $750,000 of Accidental Death and Dismemberment insurance and will reimburse her for all travel expenses incurred in connection with her Board service.

In addition, as compensation for the remainder of the 2013-2014 Board service year, she will also receive a pro rata portion of the compensation for non-employee directors described in the Company's 2013 proxy statement filed with the Securities and Exchange Commission on April 5, 2013, including a prorated annual cash retainer of $24,400, payable immediately, and a prorated restricted stock award valued at $56,300 that will be granted on the second trading day following the filing of the Company's Form 10-K for the year ended December 31, 2013, based on the Company's closing stock price on the grant date. The award will fully vest on the last day of the 2013-2014 Board service year.

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