A US National Health Care System? Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : A US National Health Care System?

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: skinowski who wrote (18757)	8/11/2010 1:36:44 PM
From: John Koligman	Read Replies (1) of 42652

McGuire to give back $400M+ Minneapolis / St. Paul Business Journal - by Bryant Ruiz Switzky Staff Writer Former United Health Group Inc. CEO William McGuire agreed to surrender more than $419 million in stock options and other supplemental compensation to settle a lawsuit related to a stock-options scandal, the company announced Thursday. McGuire resigned a year ago form Minnetonka-based United Health (NYSE:UNH) amid a stock-options backdating scandal. Thursday's judgment came down in a report from a special litigation committee that spent 15 months reviewing the case. Under the settlement, McGuire will surrender $320 million in stock options, $91 million he has in a company supplemental executive retirement plan and $8 million he has in an executive savings plan. Combined with repricing of all stock options awarded to McGuire between 1994 and 2002, he will relinquish more than $600 million worth of stock and incentives. Former United Health General Counsel David Lubben and former director William Spears were also part of the settlement. Lubben agreed to surrender $3 million in stock options and repay $20.55 million in compensation. Spears agreed to have the value of the claims against him decided through binding arbitration. Read more: McGuire to give back $400M+ - Minneapolis / St. Paul Business Journal

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next