Former UnitedHealth CEO made $142.2M last year [View all]
The former CEO of UnitedHealth Group realized $142.2 million last year in what might be the biggest ever compensation package for a Minnesota-based public company.
The pay for David Wichmann, who left the company in February 2021 after 17 years, was primarily in previously issued equity awards accumulated through his tenure that he elected to exercise or vested during 2021.
Wichmann made $42.1 million in 2020 and $52.1 million in 2019.
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UnitedHealth Group executives have routinely had the highest compensation among Minnesota public companies. UnitedHealth is the largest company in Minnesota and among the 10 largest U.S. public companies.
Throughout the company's history, it has used equity awards, both stock options and various restricted stock awards, as major components of executive pay. And because the company has thrived financially and the stock price even more so, executives and shareholders have done very well.
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https://www.startribune.com/former-unitedhealth-ceo-made-142-2m-last-year/600171979/
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UnitedHealth is pushed by AARP. For the life of me I don't know why any senior would choose a carrier that is listed on the stock market, meaning pleasing shareholders at the expense of - no doubt - subscribers.
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