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| FORM 4 | U.S. SECURITIES AND EXCHANGE COMMISSION
+--------+ WASHINGTON, D.C. 20549
[_] Check this box if
no longer subject STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
to Section 16.
Form 4 or Form 5 Filed pursuant to Section 16(a) of the Securities
obligations may Exchange Act of 1934, Section 17(a) of the
continue. See Public Utility Holding Company Act of 1935 or
Instruction 1(b). Section 30(f) of the Investment Company Act of 1940
(Print or Type Responses)
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1. Name and Address of Reporting Person*
Gareau Joseph H.
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(Last) (First) (Middle)
690 Asylum Avenue Law Department - HO-1-09
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(Street)
Hartford CT 06115
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(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol THE HARTFORD FINANCIAL
SERVICES GROUP (HIG)
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3. IRS or Identification Number of Reporting Person if an entity
(Voluntary)
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4. Statement for Month/Year January 1999
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5. If Amendment, Date of Original (Month/Year)
---------------------------------
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
[ ] Director [X] Officer [ ] 10% Owner [ ] Other
(give title below) (specify below)
Executive Vice President, Chief Investment Officer
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7. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
____ Form filed by More than One Reporting Person
TABLE I--NON-DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
<TABLE>
<CAPTION>
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1. Title 2. Trans- 3. Trans- 4. Securities Acquired (A) 5. Amount of 6. Owner- 7. Nature
of action action or Disposed of (D) Securities ship of In-
Security Date Code (Instr. 3, 4 and 5) Beneficially Form: direct
(Instr. 3) (Month/ (Instr. 8) Owned at Direct Bene-
Day/ ----------------------------------------------- End of (D) or ficial
Year) Month Indirect Owner-
Code V Amount (A) or Price (Instr. 3 and 4) (I) ship
(D) (Instr. 4) (Instr. 4)
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Common Stock 01/29/1999 M 9,662 A $9.2700
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Common Stock 01/29/1999 S 9,662 D $51.9375 0 D
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Common Stock (BSP) 453.0971 D
(02)
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Common Stock (RS)(BS) (D2) 2251.0971 D
(03)
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Common Stock (ISP) 7964.038 I In Trust
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</TABLE>
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
* If this form is filed by more than one reporting person, see Instruction
4(b)(v).
<PAGE>
FORM 4 (continued)
TABLE II--DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
(e.g., puts, calls, warrants, options, convertible securities)
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------
1. Title of Derivative 2. Conver- 3. Trans- 4. Transac- 5. Number of Deriv-
Security (Instr. 3) sion or action tion Code ative Securities
Exercise Date (Instr. 8) Acquired (A) or
D R A F T Price of (Month/ Disposed of (D)
Deriv- Day/ (Instr. 3, 4, and 5)
ative Year)
Security
---------------------------------------------------
Code V (A) (D)
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<S> <C> <C> <C> <C> <C> <C>
Stock Option (R) $36.1250
Right to Buy
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Stock Option $9.2700 01/29/1999 9662
Right to Buy
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Stock Option $16.7200
Right to Buy
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Stock Option $16.6900
Right to Buy
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Stock Option $21.6200
Right to Buy
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Stock Option $26.0000
Right to Buy
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Stock Option $44.4688
Right to Buy
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Stock Option $45.3150
Right to Buy
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Stock Option $45.5000 10/14/1998 A V 21153
Right to Buy
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Shares Equivalents (08)
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</TABLE>
TABLE II--DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
(e.g., puts, calls, warrants, options, convertible securities)--CONTINUED
<TABLE>
<CAPTION>
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6. Date Exer- 7. Title and Amount of 8. Price 9. Number 10. Owner- 11. Na-
cisable and Underlying Securities of of Deriv- ship ture
Expiration (Instr. 3 and 4) Deriv- ative Form of In-
Date ative Secur- of De- direct
(Month/Day/ Secur- ities rivative Bene-
Year) ity Bene- Secu- ficial
(Instr. ficially rity: Owner-
-------------------------------------------- 5) Owned Direct ship
Date Expira- Amount or at End (D) or (Instr.
Exer- tion Title Number of of Indi- 4)
cisable Date Shares Month rect (1)
(Instr. 4) (Instr. 4)
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<S> <C> <C> <C> <C> <C> <C> <C>
Stock Option (R) Common 29560 29560 D
Right to Buy (04) 01/24/2007 Stock
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Stock Option 2/12/1993 12/14/2001 Common 9662 $9.2700 25000 D
Right to Buy Stock
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Stock Option 09/06/1995 10/16/2003 Common 55014 55014 D
Right to Buy (04) Stock
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Stock Option 08/14/1995 10/13/2004 Common 75494 75494 D
Right to Buy (04) Stock
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Stock Option 05/11/2005 Common 75494 75494 D
Right to Buy (05) Stock
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Stock Option 2/14/1997 02/16/2007 Common 45000 45000 D
Right to Buy (05) Stock
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Stock Option 03/01/2001 12/19/2007 Common 60000 60000 D
Right to Buy (06) (06) Stock
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Stock Option 07/17/1996 02/21/2008 Common 20000 20000 D
Right to Buy (06) (06) Stock
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Stock Option Common 21153 $45.5000 21153 D
Right to Buy (07) (07) Stock
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Share Equivalents Common 282.8278 282.8278 D
ts (08) (08) Stock
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</TABLE>
(01) Represents additional shares acquired under The Hartford Employee Stock
Purchase Plan.
(02) Reflects share units awarded under the provisions of The Hartford 1996
Deferred Restricted Stock Unit Plan pursuant to Rule 16b-3. The Plan
permits certain employees to forego a percentage of actual cash bonuses
in exchange for restricted contractual rights to receive shares of the
Hartford Financial Services Group, Inc. common stock. Included in the
total units held are Premium Units which equal 20% of the restricted
stock units awarded in lieu of cash.
(03) Reflects 9.0275 shares dividends awarded under the provisions of the
1996 Deferred Restricted Stock Unit Plan of The Hartford pursuant to
Rule 16b-3. The plan permits certain employees to forego a percentage
of annual cash bonuses in exchange for restricted contractual rights to
receive shares of The Hartford Financial Services Group, Inc. Common
Stock. Included in the total units held are Premium Units which equal
to 10% of the restricted stock units awarded in lieu of cash.
**Intentional misstatements or omissions of facts constitute Federal Criminal
Violations.
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed.
If space provided is insufficient, see Instruction 6 for procedure.
Potential persons who are to respond to the collection of information contained
in this form are not required to respond unless the form displays a currently
valid OMB Number.
--------------------------------- ------------
Anthony Pepper- Attorney-in-Fact Date
Gareau, Joseph H.
THE HARTFORD FINANCIALS SERVICES GROUP JAN-1999 PAGE: 2 OF 3
