- Filings with the SEC also indicated that the execs weren’t done yet. Additional sales of shares with a combined value of $1.3 million were yet to be posted.
- Chief Information Officer Brian LeClaire on Feb. 24 was awarded 3,174 shares worth $861,000 and also gained nearly 10,000 shares through options that vested.
Humana has rewarded 13 executives with performance- and time-based shares and stock options worth a combined $21 million. The executives also were busy cashing in this week, according to filings with the Securities and Exchange Commission: They sold a combined 87,574 shares, valued at nearly $24 million.
Filings with the SEC also indicated that the execs weren’t done yet. Additional sales of shares with a combined value of $1.3 million were yet to be posted.
CEO Bruce Broussard, for example, received 25,244 shares on Feb. 24, which, at the time, were worth more than $6.8 million. Broussard sold about 11,000 shares that same day at a price of $269.31, and another 14,000 shares at an average price of $274.32 on Monday, for a combined gain of nearly $6.9 million.
Chief Consumer Officer Jody Bilney, Chief Legal Officer Christopher Todoroff and Chief HR Officer Timothy S. Huval on Feb. 24 each received 4,472 shares. That’s a gain of more than $1.2 million per executive.
Todoroff and Huval additionally gained stocks because some of their options from the company’s 2011 stock incentive plan vested on Feb. 24. The plan allowed Todoroff and Huval to acquire Humana shares at less than $170. Todoroff received nearly 10,000 shares, which, if sold the same day would have been worth more than $1 million. Huval received more than 13,000 shares, which, if sold the same day, would have been worth about $1.4 million.
While Bilney immediately sold the stock award from Feb. 24, gaining about $1.2 million, Todoroff this week sold nearly 18,000 shares worth $4.9 million, while Huval sold about 17,800 shares worth nearly $4.9 million.
Chief Information Officer Brian LeClaire on Feb. 24 was awarded 3,174 shares worth $861,000 and also gained nearly 10,000 shares through options that vested. LeClaire this week sold 14,131 shares worth nearly $3.9 million. He also gave a gift or made a charitable donation of 120 shares, worth about $33,000.
Humana told Insider via email that the stock sales were a result of the executives’ “personal financial planning.”
Humana shares closed at $271.82 Wednesday, up nearly 30 percent from Feb. 28, 2017.
Date: Feb 28, 2018