WORCESTER, Mass., May 16, 2011 /PRNewswire/ -- The Hanover Insurance Group, Inc. (NYSE: THG) today announced that Frederick H. Eppinger, the company's chief executive officer, has entered into a pre-arranged stock trading plan. Under the plan, Eppinger is allowed to exercise up to 150,000 options to purchase The Hanover's common stock and to sell the shares upon the exercise of those options. The pre-arranged stock trading plan covers options granted to Eppinger in August 2003, when he first joined the company, and that otherwise will expire in August 2013.
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The transactions under this plan are proposed to occur beginning August 15, 2011 and will be subsequently disclosed through filings with the Securities and Exchange Commission. Any transactions under the plan will be subject to meeting certain minimum, pre-determined prices, which have been set at levels that significantly exceed the current market price for the company's common stock as of May 16, 2011. The plan will expire approximately one year from the date transactions are first permitted to commence.
The stock trading plan was established under Rule 10b5-1 of the Securities Exchange Act of 1934. Rule 10b5-1 plans permit individuals who are not in possession of material non-public information to establish pre-arranged plans to buy or sell company stock. These plans allow individuals to achieve prudent and gradual asset diversification over time.
About The Hanover
The Hanover Insurance Group, Inc., based in Worcester, Mass., is the holding company for a group of insurers that includes The Hanover Insurance Company, also based in Worcester, Citizens Insurance Company of America, headquartered in Howell, Michigan, and their affiliates. The Hanover offers a wide range of property and casualty products and services for businesses, individuals, and families through an extensive network of independent agents, and has been meeting its obligations to its agent partners and their customers for nearly 160 years. Taken as a group, The Hanover ranks among the top 25 property and casualty insurers in the United States.
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Contact Information |
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Investors: |
| Media: | |
Oksana Lukasheva |
| Michael F. Buckley | |
E-mail: olukasheva@hanover.com |
| E-mail:mibuckley@hanover.com | |
1-508-855-2063 |
| 1-508-855-3099 | |
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SOURCE The Hanover Insurance Group, Inc.