Humana executives cash out $74 million in company stock - WDRB 41 Louisville News

Humana executives cash out $74 million in company stock

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LOUISVILLE, Ky. (WDRB) --  A week after Humana abandoned its plan to be acquired by a rival company, ten top executives and one director of the Louisville-based company cashed out nearly $74 million in Humana stock, according to reports filed Tuesday and Wednesday with the Securities and Exchange Commission.

Jim Murray, the company’s soon-to-retire chief operating officer, sold the most stock, $24.4 million. CEO Bruce Broussard cashed out $21.4 million.

Humana’s stock currently trades around $205 a share, which is near an all-time high. The stock briefly reached about $215 a share in May 2015 on speculation of a takeover, about a month before Aetna announced its $37 billion bid to acquire Humana.

Humana and Aetna officially walked away from the deal on Feb. 14 following a Jan. 23 ruling by a federal judge blocking the merger on antitrust grounds.

Humana spokesman Tom Noland said the stock sales don’t indicate that Humana executives think the company’s value has peaked. Executives will continue to own shares “in excess of the minimum required by our stock ownership guidelines,” he said in an emailed statement.

“Our senior executives have had limited opportunities to engage in stock transactions for the last two years as a result of the Aetna transaction. Because of those limitations, some senior executives are now exercising options and/or selling stock for personal financial planning,” Noland said. “Senior management continues to be very confident in Humana and the opportunities ahead for our company.”

Executive  Title  Stock sold 
James E. Murray Enterprise VP and COO  $  24,427,720.58
Bruce D. Broussard President & CEO  $  21,406,363.20
David A. Jones Jr. Board of Directors  $    5,543,775.00
Brian P. LeClaire Senior VP, Chief Info. Officer  $    5,519,724.56
Timothy S. Huval Senior VP, Chief HR Officer  $    5,241,741.93
Christopher M. Todoroff Senior VP, General Counsel  $    4,956,545.50
Heidi S. Margulis Senior VP, Corporate Affairs  $    2,762,031.90
Jody L. Bilney Senior VP, Chief Consumer Off.  $    1,249,813.28
Cynthia H. Zipperle VP, CAO, Controller  $        870,605.92
Christopher H. Hunter Senior VP, Chief Strategy Officer  $        825,064.80
Roy A. Beveridge Senior VP, Chief Medical Officer  $        991,719.68

Source: SEC filings

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