UnitedHealth reported strong financial earnings last year, and its chief executive reaped the rewards.
In 2011, UnitedHealth's earnings, revenue and stock price all rose, with earnings and revenue both increasing 8 percent and shares soaring 40 percent. UnitedHealth CEO Stephen Hemsley received a 24 percent pay increase, earning $13.4 million last year, reported The Wall Street Journal.
Hemsley's $4.94 million bonus, including an annual bonus of $3.6 million and a $1.3 million bonus for the 2009 to 2011 incentive period, was 45 percent more than 2010. However, his actual salary has remained level at $1.3 million for several years, the Minneapolis Star-Tribune reported.
More than half of the UnitedHealth CEO's 2011 compensation came from stock awards that he just realized, including 1.2 million options worth $28.8 million that he originally received in 2002 but exercised last year, reported the Associated Press.
Hemsley also earned $12.9 million from restricted company shares that vested during the year, including $11.7 million from performance-based shares.
To learn more:
- read the Associated Press article
- check out the Minneapolis Star-Tribune article
- see the Wall Street Journal article (subscription required)