Hartford Financial Services Group Inc. has awarded restricted stock worth $3.4 million total to three top executives, including $2 million to Chairman, President and CEO Liam McGee, under the insurer’s stock incentive plan, Citybizlist Atlanta reports, citing a regulatory filing.
Lizabeth Zlatkus, who is executive vice president and chief risk officer, and Christopher Swift, executive vice president and chief financial officer, will be granted stock worth $900,000 and $500,000, respectively, according to the Securities and Exchange Commission filing.
The Hartford also approved up to $200,000 in relocation costs to Gregory McGreevey, executive vice president and chief investment officer, Citybizlist Atlanta said on its Website. The grant is to cover the loss that McGreevey, who also is president of Hartford Investment Management Co., will incur in the sale of his current home in the Atlanta area.
The stock awards, with values effective July 22, are to be granted on the first day of trading after the company files its quarterly Form 10-Q report, likely Aug. 6. The shares will vest on the third anniversary of the grant date. In the case of Zlatkus, a retirement-eligible employee, the shares will vest pro rata upon retirement.
