Trevor Fetter
HARTFORD INSURANCE GROUPAbout Trevor Fetter
Trevor Fetter, age 65, is The Hartford’s independent Lead Director, serving on the Compensation and Management Development Committee and the Finance, Investment and Risk Management Committee (FIRMCo). He has been a director since 2007 and Lead Director since May 2017, and is currently a Senior Lecturer at Harvard Business School teaching leadership and corporate accountability as well as financial reporting and control . He is independent per NYSE standards and the company’s Corporate Governance Guidelines; all directors other than the CEO are affirmed independent .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Tenet Healthcare Corporation | Chairman; Chief Executive Officer; President | Chairman 2015–2017; CEO 2003–2017; President 2002–2017 | Led complex, highly regulated public company; significant corporate finance and reporting expertise; prior CFO (1996–2000) |
| Broadlane, Inc. | Chairman and Chief Executive Officer | 2000–2002 | Leadership of private company operations and strategy |
| Tenet Healthcare Corporation | Chief Financial Officer | 1996–2000 | Corporate finance and SEC reporting |
| Harvard Business School | Senior Lecturer | Jan 2019–present | Teaches leadership, corporate accountability, and financial reporting/control |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| — | — | — | No current public company directorships |
Board Governance
- Committees: Compensation and Management Development Committee; FIRMCo. Not a committee chair; serves as Lead Director .
- Lead Director responsibilities: approves Board agendas, schedules and information; presides at executive sessions; liaises between CEO/Chair and independent directors; can call meetings of independent directors; leads board evaluations and refreshment discussions; engages with shareholders when appropriate .
- Independence and conflicts: Board annually reviews independence; all directors other than CEO are independent; related-party transaction policy in effect; no transactions requiring review occurred in 2024 .
- Attendance: The Board met 6 times in 2024; each director attended at least 75% of Board and committee meetings; all directors attended the 2024 annual meeting. Committee meetings held in 2024: Audit (9), Compensation (6), FIRMCo (5), Nominating (5) .
- Overboarding & shareholder rights: Overboarding threshold for non-CEO directors reduced from four boards (in addition to The Hartford) to three; shareholders owning at least 25% can require a special meeting; revised stock ownership/retention policy adopted .
Fixed Compensation
| Component | Amount (USD) | Period/Date | Notes |
|---|---|---|---|
| Annual Board Cash Retainer | $115,000 | 2024–2025 Board year | Non-management directors |
| Lead Director Cash Retainer | $50,000 | 2024–2025 Board year | Additional cash retainer for Lead Director |
| Committee Chair Retainers | $35,000 (Audit); $35,000 (FIRMCo); $30,000 (Comp); $25,000 (Nominating) | 2024–2025 Board year | Applies to chairs only; Fetter not a chair |
| Fees Earned or Paid in Cash (Fetter) | $165,000 | FY 2024 | Fetter elected to receive deferred vested RSUs in lieu of cash; distributed after Board service |
| All Other Compensation (Fetter) | $1,427 | FY 2024 | Insurance/perqs reimbursed; standard program |
Performance Compensation
| Equity Award | Grant Date | Units | Grant Value (USD) | Vest/Distribution | Terms |
|---|---|---|---|---|---|
| Annual Director RSUs (Fetter) | 2024-07-29 | 1,733 | $190,000 | Vest 2025-05-21; Fetter elected to defer distribution until end of Board service | RSUs granted under 2020 Stock Incentive Plan; units determined by $190,000 ÷ $110.09 (NYSE close); dividend equivalents accrued; accelerated vesting upon retirement, death, disability, certain special resignations (Committee consent), or change of control; pledge/transfer restrictions apply |
| Director Equity Program (standard) | Annual | — | $190,000 | End of Board year vest (unless deferred) | Directors may not sell, exchange, transfer, pledge, or otherwise dispose of RSUs prior to vesting; distribution as common stock; robust insider trading restrictions including trading windows and potential suspension |
Other Directorships & Interlocks
- Current public company boards: None (reduces interlock/conflict risk) .
- No related-party transactions requiring review in 2024 (mitigates conflict risk) .
Expertise & Qualifications
- Executive leadership and governance: Former public company CEO and Chairman; extensive board governance experience, including service as Lead Director since 2017 .
- Finance and accounting: Prior CFO; expertise in corporate finance and financial reporting .
- Regulatory and risk: Led highly regulated healthcare company; contributes to FIRMCo oversight of insurance and investment risks .
- Education: Senior Lecturer at Harvard Business School in leadership/corporate accountability and financial reporting/control .
Equity Ownership
| Holder | Common Stock Owned | Trust-Held Shares (Included) | Total Stock-Based Holdings | Vested vs. Unvested | Ownership % |
|---|---|---|---|---|---|
| Trevor Fetter | 136,794 | 60,945 (held by a trust for which Fetter is trustee) | 136,794 | Unvested director RSUs: 1,733 units (grant 2024-07-29; vest 2025-05-21; distribution deferred) | Below 1% (no individual director ≥1%) |
Governance Assessment
- Board effectiveness and engagement: As Lead Director, Fetter exercises strong agenda, information, and executive session oversight; he leads board evaluations and goal-setting, supporting effective governance and refreshment . Committee work aligns with risk (FIRMCo) and pay/succession (Compensation), both active in 2024 .
- Independence and conflicts: Independent; no related-party transactions in 2024; robust codes of ethics and annual certifications; prohibition on hedging/pledging and strong insider trading controls enhance alignment .
- Attendance and engagement: Board met 6 times in 2024; each director attended ≥75% of Board/committee meetings; all attended the 2024 annual meeting, indicating satisfactory engagement .
- Pay-for-performance signals (enterprise): Say-on-Pay approval ~91% in 2024 supports investor confidence in compensation governance, though applies to executives; director pay is balanced cash + RSUs with deferral elections increasing alignment (Fetter defers cash into RSUs) .
- RED FLAGS: None observed in disclosures. Potential watchpoint is long tenure (director since 2007), though the Board asserts independence is not compromised solely due to tenure and maintains mandatory retirement at 75; overboarding limits tightened and Fetter holds no other public company boards, mitigating load/conflict risk .