As WellPoint's earnings fell last year, so did its CEO's total compensation, according to a proxy filing Monday with the Securities and Exchange Commission.
WellPoint saw its Medicare Advantage business struggle last year, causing its overall earnings to decrease. Likewise, WellPoint CEO Angela Braly saw her compensation decline, albeit slightly.
Braly's total compensation for 2011 fell by 1.5 percent so she still earned almost $13.3 million last year, down from the $13.5 million she made the previous year, reported the Indianapolis Business Journal. She also received fewer stock options, and her $1.9 million incentive-based bonus was scaled back by 32 percent from 2010. However, WellPoint did award Braly with a 50 percent increase in her stock grant, amounting to $8 million, compared to last year, Fox Business reported.
WellPoint also provided Braly with roughly $216,279 in other compensation, almost $8,000 of which went toward security measures for Braly and her family because of safety concerns related to the health reform debate, according to the Associated Press.
Other WellPoint execs also saw a decrease in compensation last year. Chief Financial Officer Wayne DeVeydt's $3.9 million was a 3.9 percent cut from 2010, and Lori Beer, executive vice president for enterprise business services, saw her compensation fall by 39 percent to $2.7 million, according to Indianapolis Business Journal.
To learn more:
- see the Fox Business article
- read the Associated Press article
- check out the Indianapolis Business Journal article