HARTFORD FINANCIAL SERVICES GROUP, INC., PRE 14A filed on 3/26/2024
Proxy Statement - Notice of Shareholders Meeting (preliminary)
v3.24.1
Cover
 12 Months Ended
Dec. 31, 2023
Document Information [Line Items]  
Document Type PRE 14A
Amendment Flag false
Entity Information [Line Items]  
Entity Registrant Name The Hartford Financial Services Group, Inc.
Entity Central Index Key 0000874766
v3.24.1
Pay vs Performance Disclosure - USD ($)
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Pay vs Performance Disclosure        
Pay vs Performance Disclosure, Table
Value of Initial Fixed $100 Investment Based on:(4)
Year
Summary Compensation Table (SCT) Total for CEO ($)(1)
Compensation Actually Paid (CAP) to CEO ($)(2)
Average
 SCT Total for Other NEOs ($)(1)
Average CAP to Other NEOs ($)(3)
Company TSR ($)Peer Group TSR ($)
Net Income
 ($ in millions) (4)
Compensation Core Earnings
($ in millions) (5)
202316,408,250 11,750,729 3,710,379 3,144,402 146 158 2,504 2,737 
202216,086,469 26,534,011 5,409,204 8,245,362 135 145 1,819 2,561 
202115,824,348 38,804,005 4,793,726 10,351,296 120 132 2,371 2,163 
202011,806,195 (783,220)3,927,876 524,850 83 100 1,737 1,767 
      
Company Selected Measure Name Compensation Core Earnings      
Named Executive Officers, Footnote
(1) The CEO for each year reported was Christopher Swift. The names of each of the other NEOs included for purposes of calculating the average amounts in each applicable year are as follows: (i) for 2023, Beth Costello, David Robinson, Deepa Soni, and Amy Stepnowski; (ii) for 2022, Beth Costello, Douglas Elliot, David Robinson, and Deepa Soni; (iii) for 2021, Beth Costello, Douglas Elliot, David Robinson, Amy Stepnowski, and William Bloom; and (iv) for 2020, Beth Costello, Douglas Elliot, David Robinson, William Bloom, and Brion Johnson.
      
Peer Group Issuers, Footnote
(4) Reflects the value of a fixed $100 investment on December 31, 2019. The peer group used for this purpose is the published industry index: S&P Insurance Composite Index, the same peer group used for purposes of the performance graph included in the Company’s Annual Reports on Form 10-K for each of the fiscal years ended December 31, 2023, 2022, 2021, and 2020.
      
PEO Total Compensation Amount $ 16,408,250 $ 16,086,469 $ 15,824,348 $ 11,806,195
PEO Actually Paid Compensation Amount $ 11,750,729 26,534,011 38,804,005 (783,220)
Adjustment To PEO Compensation, Footnote
(2) In accordance with the requirements of Item 402(v) of Regulation S-K, the following adjustments were made to the CEO's total compensation for each year to determine the compensation actually paid. For purposes of the pension valuation adjustments shown below, there was no pension service or prior service cost.
YearSCT Total ($)Less: Change in Pension Value ($)Less: Stock Awards from SCT and Option Awards from SCT ($)
Year-End Fair Value of Unvested Equity Awards and Applicable Dividend Equivalents Granted in the Year ($)
Change in Fair Value of Unvested Equity Awards and Applicable Dividend Equivalents Granted in Prior Years ($)
Vesting Date Fair Value of Equity Awards and Applicable Dividend Equivalents Granted and Vested in the Year ($)
Change in Fair Value of Equity Awards and Applicable Dividend Equivalents Granted in Prior Years Which Vested in the Year ($)
CAP ($)
202316,408,250 37,310 10,997,175 10,390,607 (298,113)— (3,715,530)11,750,729 
202216,086,469 — 10,153,500 14,890,747 5,123,290 — 587,005 26,534,011 
202115,824,348 8,184 9,626,475 19,016,242 9,006,971 — 4,591,103 38,804,005 
202011,806,195 33,824 7,990,850 6,834,642 (5,693,269)— (5,706,114)(783,220)
      
Non-PEO NEO Average Total Compensation Amount $ 3,710,379 5,409,204 4,793,726 3,927,876
Non-PEO NEO Average Compensation Actually Paid Amount $ 3,144,402 8,245,362 10,351,296 524,850
Adjustment to Non-PEO NEO Compensation Footnote
(3) In accordance with the requirements of Item 402(v) of Regulation S-K, the following adjustments were made to average total compensation for the NEOs as a group (excluding the CEO) for each year to determine the compensation actually paid, using the same methodology described above in footnote 2. For purposes of the pension valuation adjustments shown below, there was no pension service or prior service cost.
YearSCT Total ($)Less: Change in Pension Value ($)Less: Stock Awards from SCT and Option Awards from SCT ($)
Year-End Fair Value of Unvested Equity Awards and Applicable Dividend Equivalents Granted in the Year ($)
Change in Fair Value of Unvested Equity Awards and Applicable Dividend Equivalents Granted in Prior Years ($)
Vesting Date Fair Value of Equity Awards and Applicable Dividend Equivalents Granted and Vested in the Year ($) (a)
Change in Fair Value of Equity Awards and Applicable Dividend Equivalents Granted in Prior Years Which Vested in the Year ($)
CAP ($)
20233,710,379 21,025 1,760,857 1,663,735 (48,651)— (399,179)3,144,402 
20225,409,204 — 2,842,980 3,231,047 1,053,592 938,364 456,135 8,245,362 
20214,793,726 1,170 2,362,389 4,335,398 1,972,862 340,965 1,271,904 10,351,296 
20203,927,876 21,586 2,164,110 1,718,080 (1,391,173)132,902 (1,677,139)524,850 
(a) Equity awards vest during the year granted only in the case of retirement. Retirements occurred in 2022, 2021, and 2020 for Messrs. Elliot, Bloom, and Johnson, respectively.
      
Compensation Actually Paid vs. Total Shareholder Return
24-EN-2276501 Proxy Statement_Cap_v_TSR_FINAL.jpg
      
Compensation Actually Paid vs. Company Selected Measure
24-EN-2276501 Proxy Statement_Cap_v_NetInc_FINAL.jpg
      
Total Shareholder Return Vs Peer Group
24-EN-2276501 Proxy Statement_TSR vs S_P_FINAL1.jpg
      
Tabular List, Table Compensation Core Earnings
•Compensation Core ROE
•TSR
      
Total Shareholder Return Amount $ 146 135 120 83
Peer Group Total Shareholder Return Amount 158 145 132 100
Net Income (Loss) $ 2,504,000,000 $ 1,819,000,000 $ 2,371,000,000 $ 1,737,000,000
Company Selected Measure Amount 2,737,000,000 2,561,000,000 2,163,000,000 1,767,000,000
PEO Name Christopher Swift      
Additional 402(v) Disclosure
(5) The Compensation Core Earnings definition and a reconciliation from GAAP net income available to common stockholders to Compensation Core Earnings for each year in the table are provided in Appendix A.
      
Measure:: 1        
Pay vs Performance Disclosure        
Name Compensation Core Earnings      
Measure:: 2        
Pay vs Performance Disclosure        
Name Compensation Core ROE      
Measure:: 3        
Pay vs Performance Disclosure        
Name TSR      
PEO | Change in Pension Value [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount $ 37,310 $ 0 $ 8,184 $ 33,824
PEO | Stock Awards and Option Awards [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 10,997,175 10,153,500 9,626,475 7,990,850
PEO | Year-End Value of Unvested Equity Awards and Applicable Dividend Equivalents Granted in the Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 10,390,607 14,890,747 19,016,242 6,834,642
PEO | Change in Value of Unvested Equity Awards and Applicable Dividend Equivalents Granted in Prior Years [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (298,113) 5,123,290 9,006,971 (5,693,269)
PEO | Vesting Date Value of Equity Awards and Applicable Dividend Equivalents Granted and Vested in the Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 0 0 0 0
PEO | Change in Value of Equity Awards and Applicable Dividend Equivalents Granted in Prior Years Which Vested in the Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (3,715,530) 587,005 4,591,103 (5,706,114)
Non-NEOs [Member] | Change in Pension Value [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 21,025 0 1,170 21,586
Non-NEOs [Member] | Stock Awards and Option Awards [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 1,760,857 2,842,980 2,362,389 2,164,110
Non-NEOs [Member] | Year-End Value of Unvested Equity Awards and Applicable Dividend Equivalents Granted in the Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 1,663,735 3,231,047 4,335,398 1,718,080
Non-NEOs [Member] | Change in Value of Unvested Equity Awards and Applicable Dividend Equivalents Granted in Prior Years [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (48,651) 1,053,592 1,972,862 (1,391,173)
Non-NEOs [Member] | Vesting Date Value of Equity Awards and Applicable Dividend Equivalents Granted and Vested in the Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 0 938,364 340,965 132,902
Non-NEOs [Member] | Change in Value of Equity Awards and Applicable Dividend Equivalents Granted in Prior Years Which Vested in the Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount $ (399,179) $ 456,135 $ 1,271,904 $ (1,677,139)