John C. Roche - 24 Feb 2023 Form 4 Insider Report for HANOVER INSURANCE GROUP, INC. (THG)

Role: President and CEO, Director
Signature: /s/ Walter H. Stowell pursuant to Confirming Statement
Issuer symbol: THG
Transactions as of: 24 Feb 2023
Transactions value $: -$209,941
Form type: 4
Filing time: 27 Feb 2023, 15:38:10 UTC
Previous filing: 04 Jan 2023
Next filing: 01 Mar 2023
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	THG	Common Stock	Options Exercise	$254K	+6.34K	+8.42%	$40.01	81.5K	24 Feb 2023	Direct	F1, F2
transaction	THG	Common Stock	Tax liability	-$463K	-3.33K	-4.08%	$139.34	78.2K	24 Feb 2023	Direct	F1, F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	THG	Common Stock Option (right to buy)	Options Exercise	$0	-6.34K	-100%	$0.00^*	0	24 Feb 2023	Common Stock	6.34K	$40.01	Direct	F1, F3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Pursuant to the terms of his 2/26/13 Option Agreement (the "Agreement"), in-the-money options held by Mr. Roche immediately prior to expiration of the option are automatically "net exercised". Accordingly, per the terms of the Agreement such options were "net exercised" on 2/24/23. To that end a total of 3,326 shares were withheld by the Company to satisfy the exercise price and taxes associated with the exercise, resulting in a net issuance of 3,010 shares to, and held by, Mr. Roche.
F2	Does not include 7,652 shares held indirectly by the Reporting Person's spouse.
F3	The option vested 1/3 on each of 02/26/14, 02/26/15 and 02/26/16.