The Hartford 2014 Annual Report Download - page 236

Table of Contents
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The Company sponsors The Hartford Employee Stock Purchase Plan (“ESPP”). Under this plan, eligible employees of The Hartford purchase common stock
of the Company at a discount rate of 5% of the market price per share on the last trading day of the offering period. Accordingly, the plan is a
noncompensatory plan. Employees purchase a variable number of shares of stock through payroll deductions elected as of the beginning of the offering
period. The Company may sell up to 15,400,000 shares of stock to eligible employees under the ESPP. As of December 31, 2014, there were 5,193,622 shares
available for future issuance. During the years ended December 31, 2014, 2013 and 2012, 258,609 shares, 321,723 shares, and 688,655 shares were sold,
respectively. The weighted average per share fair value of the discount under the ESPP was $1.70, $1.00 and $1.03 during the years ended December 31,
2014 , 2013 and 2012, respectively. The fair value is estimated based on the 5% discount off the market price per share on the last trading day of the offering
period.
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