Business Context and Reporting Period
This Form 8-K Current Report was filed by The Cigna Group on September 14, 2023. The filing addresses Item 5.02, concerning the departure of directors or certain officers, election of directors, appointment of certain officers, and compensatory arrangements of certain officers.
Key Financial Metrics
This filing does not contain financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity metrics. The document focuses exclusively on executive compensation adjustments.
Material Changes
On September 14, 2023, The Cigna Group approved compensation changes for two Executive Vice Presidents to reflect expanded roles and responsibilities:
- Noelle K. Eder: Expanded role to lead the new Technology and Operations function.
- Nicole S. Jones: Expanded role to include responsibility for the Human Resources function, in addition to her duties as Chief Administrative Officer and General Counsel.
Compensatory Arrangements
Effective September 14, 2023, the material terms of the offer letters for Ms. Eder and Ms. Jones are as follows:
| Executive | Base Annual Salary | Enterprise Incentive Plan (FY 2023 Target) | Long-term Incentive (FY 2023 Target) |
|---|---|---|---|
| Noelle K. Eder | $850,000 | $900,000 | $3,250,000 |
| Nicole S. Jones | $850,000 | $900,000 | $3,250,000 |
Both executives remain eligible to participate in the Company's employee benefit plans in accordance with their terms.
Investor Verification Points
- Confirm the effective date of the expanded roles for Ms. Eder and Ms. Jones is September 14, 2023.
- Verify the total potential annual compensation targets (Base + Incentive + Long-term) for each executive.
- Note that this filing does not provide updated financial guidance or operational results for the period.