Adin Morris Tooker
HARTFORD INSURANCE GROUPAbout Adin Morris Tooker
Adin “Mo” Tooker is President of The Hartford (HIG) since February 1, 2025, overseeing all Property & Casualty businesses, Enterprise Sales & Distribution, and Risk Services; he joined HIG in 2015 and is 55 years old . The Hartford’s 2024 performance that underpins executive incentives included net income ROE of 19.9% and core earnings ROE of 16.7% on $3.1B of net income and $3.1B core earnings, with Business Insurance delivering strong written premium growth and margins; these metrics drive AIP and PSU outcomes used in pay-for-performance alignment . The 2022–2024 PSU cycle certified at 180% of target (200% on Compensation Core ROE; 160% on relative TSR at the 73rd percentile), reinforcing linkage to long-term value creation . He adopted Rule 10b5-1 plans in August 2024 (terminated May 15, 2025) and August 25, 2025 (covering potential sale/exercise up to 23,933 shares through August 14, 2026), indicating planned, pre-arranged selling consistent with policy .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| The Hartford | President | Feb 2025–present | Aligns all P&C businesses, drives growth and innovation strategy across Business Insurance, Personal Insurance, Sales/Distribution, Risk Services . |
| The Hartford | EVP, Head of Business Insurance (Commercial Lines) | Mar 1, 2024–Jan 2025 | Led strong premium growth and financial performance; recognized for underwriting discipline and digital adoption . |
| The Hartford | EVP, Middle & Large Business, Global Specialty, Sales & Distribution | Nov 2022–Feb 2024 | Expanded oversight to multiple commercial lines and enterprise distribution . |
| The Hartford | Head of Middle & Large Commercial | Mar 2019–Oct 2022 | Leadership of core commercial businesses . |
| The Hartford | Head of Middle Market | Mar 2017–Feb 2019 | Led Middle Market underwriting and operations . |
| The Hartford | Chief Underwriting Officer | 2015–2017 | Advanced underwriting capabilities across the franchise . |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| General Reinsurance Corporation | President | Pre-2015 (exact years not disclosed) | Led global P&C reinsurance business before joining HIG . |
Fixed Compensation
| Metric | 2024 Actual | 2025 Target (President role) |
|---|---|---|
| Base Salary ($) | 750,000 | 850,000 |
| AIP Target ($) | 1,097,500 (prorated from $835,000 to $1,150,000) | 1,650,000 |
| AIP Paid ($) | 1,569,400 (143% of target) | N/A (future) |
| LTI Target/Granted ($) | 1,700,000 (25% options; 75% PSUs) | 3,500,000 |
| Perquisites ($) | 20,214 (exec physical, spouse travel) | — |
Performance Compensation
| Component | Metric | Weighting | Target | Actual/Payout | Vesting |
|---|---|---|---|---|---|
| Annual Incentive Plan (AIP) 2024 | Compensation Core Earnings | Enterprise funding; formula curve with qualitative overlay | $2.84B target | $3.15B actual → 143% funding; individual AIP for Tooker paid at 143% | Cash, Feb 2025 payout |
| PSUs 2024–2026 | Compensation Core ROE (avg annual over 3 yrs) | Two-thirds of PSU award | 15.5% target ROE | 0–200% payout scale; threshold 80%, max 120% of target ROE | Cliff at 12/31/2026; settled Q1 2027 |
| PSUs 2024–2026 | Relative TSR vs 15 public peers | One-third of PSU award | Above-median curve: 55th percentile = 100% | 0% below 30th; 35% at 30th; 200% at 85th percentile | Cliff at 12/31/2026; settled Q1 2027 |
| PSUs 2022–2024 (certified) | ROE and TSR | 50/50 | — | 180% combined (200% ROE on 16.3% avg; 160% TSR at 73rd percentile) | Vested 12/31/2024; certified 2/18/2025 |
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Common Stock Owned | 198,804 shares as of 3/24/2025 (beneficial ownership) |
| Total Stock-Based Holdings | 286,220 (includes RSUs and PSUs at target; options beyond 60 days) |
| Options Exercisable within 60 days | 167,083 shares (included in common stock per SEC regs) |
| Ownership as % Outstanding | <1% (no director/NEO ≥1%); group at 1.5% |
| Stock Ownership Requirements | CEO 6x salary; other NEOs 4x salary; unvested RSUs and 50% of unvested PSUs count; must retain at least 50% of net vested shares until compliant |
| Compliance Status (as of 3/24/2025) | CEO and each other NEO met requirements |
| Hedging/Pledging | Prohibited for Senior Executives; trading only via windows or Rule 10b5-1 plans |
| 10b5-1 Plans | Adopted Aug 25, 2025 for option exercise/sale up to 23,933 shares between 11/26/2025–8/14/2026; earlier Aug 14, 2024 plan fully exercised and terminated May 15, 2025 |
Equity Grants & Vesting Detail (2024 awards)
| Award Type | Grant Date | Quantity/Target | Terms | Expiration/Settlement |
|---|---|---|---|---|
| Stock Options | 2/27/2024 | 16,492 options | Exercise price $95.74; vest 1/3 per year over 3 years; 10-year term | 2/27/2034 |
| PSUs | 2/27/2024 | 13,317 target (threshold 1,554; max 26,635) | 2/3 based on Compensation Core ROE; 1/3 based on Relative TSR; payout 0–200%; dividend equivalents payable only upon vest | |
| Outstanding Equity at 12/31/2024 | — | 26,867 (2024 PSU unearned at 200%), 13,506 (2023 PSU unearned at 200%) | Market value shown with dividend equivalents; options schedule across prior grants spans 2016–2024 with listed strikes and expiries |
Employment Terms
- Severance: Lump sum equal to 2×(base salary + target AIP) upon involuntary termination other than for Cause; restrictive covenants (non-compete, non-solicit, confidentiality, non-disparagement) required .
- Change of Control: Double-trigger vesting for assumed or replaced equity; severance remains 2×(base + target AIP); pro-rata AIP; no excise tax gross-ups .
- Clawback: Comprehensive policy requires recovery of “erroneously awarded” incentive pay upon restatement; permits recovery for misconduct; applies to time- and performance-based incentives and severance where appropriate .
- Non-Solicit/Non-Compete (award agreements): 1-year post-termination non-solicitation; retirement non-compete restrictions with forfeiture if violated; California carve-out noted; termination rules specify prorated or forfeited treatment depending on cause/retirement/severance .
Compensation Structure Highlights (Pay-for-Performance)
| Item | Detail |
|---|---|
| Mix Shift | 2024 LTI mix changed from 50% PSUs/50% options to 75% PSUs/25% options; PSU metrics weighting changed to 2/3 ROE and 1/3 TSR (increases performance linkage) . |
| AIP Design | Enterprise Compensation Core Earnings target with 80% threshold and 200% max; 2024 target $2.84B vs actual $3.15B → 143% funding; qualitative overlay retained but not used in 2024 . |
| Best Practices | Double-trigger equity vesting, no re-pricing/buyouts, no dividends on unvested awards, prohibition on hedging/pledging, independent consultant, robust clawback . |
| Say-on-Pay | 91% approval at 2024 annual meeting . |
Deferred Compensation & Benefits
| Item | Detail |
|---|---|
| Excess Savings Plan (2024) | Executive contribution $39,300; Company match $39,300; aggregate balance $973,698; investment options mirror 401(k); notional returns disclosed . |
| Pension | No qualified or non-qualified pension accruals (joined after plan freeze) . |
| Perquisites | $20,214 (executive physical; spouse travel to business functions) . |
Insider Transactions & Potential Selling Pressure
| Item | Quantity | Value/Timing | Notes |
|---|---|---|---|
| Options exercised (2024) | 6,865 shares | $504,234 realized | Value based on FMV minus strike; total exercises shown by NEO . |
| Stock vested (2024 awards paid 2/18/2025) | 10,997 shares | $1,240,658 | 2022 PSUs paid at 180% of target; value at $112.82 per share . |
| Rule 10b5-1 plan | Up to 23,933 shares | 11/26/2025–8/14/2026 window | For potential option exercises and associated sales (affirmative defense) . |
| Prior Rule 10b5-1 plan | N/A | Terminated 5/15/2025 | Fully exercised/terminated . |
Investment Implications
- Strong alignment: Increased PSU weighting (75%) with ROE and relative TSR metrics, robust ownership requirements (4× salary), double-trigger vesting, and comprehensive clawback support long-term value creation and discourage short-termism .
- Performance linkage: 2024 AIP funded at 143% on $3.15B Compensation Core Earnings; 2022–2024 PSU payout at 180% evidences high execution against ROE and peer-relative TSR objectives .
- Retention risk: Severance at 2× cash comp with one-year non-solicit and retirement non-compete increases stickiness; however, active 10b5-1 plan for up to 23,933 shares implies scheduled sales that could create modest insider supply near vest/exercise windows, though pledging/hedging are prohibited .
- Role elevation: 2025 President targets (base $850k; AIP $1.65M; LTI $3.5M) raise at-risk pay exposure; execution across Personal Insurance profitability restoration and Business Insurance growth will be critical to sustain above-target payouts .