The Hartford Financial Services Group granted $11.4 million in performance share bonuses to five top executives, regulatory filings revealed Friday.
The Board of Directors voted Tuesday to give the bonuses based on the recognition of the successful leadership of the company’s transformation, progressing toward greater value to shareholders, according to the company’s filing with the U.S. Securities and Exchange Commission.
The company reported third quarter earnings of $293 million on Tuesday, a 22-fold increase over the third quarter in 2012.
The awards are payable in shares of The Hartford’s stock and will vest on Oct. 30, 2018.
Liam McGee, the company’s chairman, president, and chief executive received $5 million. McGee assumed his role with the company in 2009.
Christopher Swift, executive vice president and chief financial officer, received $2 million.
Doug Elliot, president of commercial markets, received $2 million.
Alan J. Kreczko, executive vice president and general counsel, received $1.2 million.
Robert Rupp, executive vice president and chief risk officer, received $1.2 million.
