Form 4: Hanover Insurance Group Executive Vice President Richard W. Lavey Reports Share Forfeiture for Tax Obligations

Richard W. Lavey, Executive Vice President of Hanover Insurance Group, reports the forfeiture of 1,917 common stock shares to cover withholding taxes upon the vesting of restricted stock units.

Summary

• Richard W. Lavey, an Executive Vice President at Hanover Insurance Group, filed a Form 4 with the SEC.
• The filing reports a transaction that occurred on February 28, 2025.
• Mr. Lavey forfeited 1,917 shares of common stock to cover withholding taxes related to the vesting of restricted stock units.
• The price per share for the transaction was $170.53.
• Following the transaction, Mr. Lavey directly owns 39,047.704 shares of Hanover Insurance Group common stock.

Sentiment

Score: 5

Explanation: This is a routine transaction related to executive compensation and doesn't indicate any positive or negative sentiment about the company's performance.

Industry Context

Form 4 filings are a routine part of executive compensation and provide transparency into insider transactions. This transaction reflects the standard practice of covering tax obligations through share forfeitures upon the vesting of equity awards.

Comparison to Industry Standards

• Share forfeitures to cover tax obligations on vesting equity awards are a common practice across publicly traded companies.
• Companies like Allstate, Progressive, and Travelers also use similar mechanisms for their executives' equity compensation.
• The number of shares forfeited and the price per share are dependent on the size of the equity grant and the company's stock price at the time of vesting, which varies across companies and industries.

Key Dates