UnitedHealth Group (NYSE: UNH) announced that its chief executive officer and president, Stephen J. Hemsley, has extended his employment agreement with the company through 2014.
Richard C. Burke, chairman of UnitedHealth Group’s board of directors, said, “Steve Hemsley is doing an outstanding job leading UnitedHealth Group to ever higher levels of performance and value for our stakeholders, and keeping the enterprise focused on the diverse responsibilities we have in this important and socially sensitive arena. We are fortunate to retain Steve’s commitment to UnitedHealth Group.”
Under the agreement, the terms of Mr. Hemsley’s compensation do not change.
Separately, the company today filed a Form 4 with the Securities and Exchange Commission stating that Mr. Hemsley has exercised an option award set to expire on January 17, 2011, and sold 1.2 million shares of UnitedHealth Group stock to meet charitable commitments and diversify his financial position. Mr. Hemsley continues to own more than 2.7 million shares of UnitedHealth Group stock.
About UnitedHealth Group
UnitedHealth Group is a diversified health and well-being company dedicated to making health care work better. Headquartered in Minneapolis, Minn., UnitedHealth Group offers a broad spectrum of products and services through six operating businesses: UnitedHealthcare Employer & Individual, UnitedHealthcare Medicare & Retirement, UnitedHealthcare Community & State, OptumHealth, Ingenix and Prescription Solutions. Through its family of businesses, UnitedHealth Group serves more than 75 million individuals worldwide. Visit www.unitedhealthgroup.com for more information.