UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On January 17, 2024, The Cigna Group (the “Company”) announced certain organizational changes. Among these changes, effective February 5, 2024:
· | Brian C. Evanko will serve as President and Chief Executive Officer, Cigna Healthcare, in addition to his current role as Executive Vice President and Chief Financial Officer, The Cigna Group. |
· | Eric P. Palmer, currently President and Chief Executive Officer, Evernorth Health Services, will also assume responsibility for enterprise strategy and corporate development in the additional role of the Company’s Executive Vice President for Enterprise Strategy. |
On January 16, 2024, the People Resources Committee of the Company’s Board of Directors approved compensation changes for Mr. Evanko and Mr. Palmer to reflect the expansion of their roles and responsibilities. In connection with their respective expanded responsibilities, Mr. Evanko and Mr. Palmer received offer letters, the material terms of which are included in the table below. In addition, Mr. Evanko and Mr. Palmer will continue to be eligible to participate in the Company’s employee benefit plans, in accordance with their terms.
Base Salary (effective February 5, 2024) |
2024 Enterprise Incentive Plan Annual Target |
2024 Long-Term Incentive Annual Target | |
Brian C. Evanko Executive Vice President and Chief Financial Officer, The Cigna Group, and President and Chief Executive Officer, Cigna Healthcare |
$1,000,000 | $2,000,000 | $6,000,000 |
Eric P. Palmer Executive Vice President, Enterprise Strategy, The Cigna Group, and President and Chief Executive Officer, Evernorth Health Services |
$1,000,000 | $2,000,000 | $6,000,000 |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
THE CIGNA GROUP | ||
Date: January 17, 2024 | By: | /s/ Nicole S. Jones |
Nicole S. Jones | ||
Executive Vice President, Chief Administrative Officer and General Counsel |