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Cigna CEO cashed out $44 million in 2017

Cordani has led Cigna for more than eight years. Photo: Scott Eells / Bloomberg via Getty Images

Cigna CEO David Cordani made $43.9 million in 2017, according to a federal securities filing. That amount reflects the stock awards and options that Cordani actually cashed out.

The big picture: Cordani was in the spotlight a lot last year. He broke off the health insurer's merger with Anthem after feuds plagued both sides. Cigna is suing Anthem for almost $15 billion "as a result of the failed merger process," and a trial for the case is scheduled for 2019.

Buried in the weeds: The Securities and Exchange Commission now requires publicly traded companies to report CEO pay ratios, which show how much the average company employee makes compared with the CEO.

  • The median annual compensation of a Cigna employee was $63,010 in 2017.
  • Cigna calculated the CEO pay ratio at 279:1 (for every $1 the average worker makes, Cordani gets $279).

Yes, but: That's not entirely accurate. Based on SEC rules, the reported ratio is based on the estimated fair value of Cordani's stock instead of the actual realized value.

  • Using Cordani's $43.9 million compensation total, Cigna's CEO pay ratio was 697:1.

Go deeper: The sky-high pay of health care CEOs.

Go deeper

Rebecca Falconer
Updated 43 mins ago - World

Mexican President López Obrador tests positive for coronavirus

Mexico's President Andrés Manuel López Obrador during a press conference at National Palace in Mexico City, Mexico, on Wednesday. Photo: Ismael Rosas/Eyepix Group/Barcroft Media via Getty Images

Mexican President Andrés Manuel López Obrador announced Sunday evening that he's tested positive for COVID-19.

Driving the news: López Obrador tweeted that he has mild symptoms and is receiving medical treatment. "As always, I am optimistic," he added. "We will all move forward."

Go deeper (1 min. read)Arrow
Alayna Treene, author of Sneak Peek
59 mins ago - Politics & Policy

Sarah Huckabee Sanders to run for governor of Arkansas

Sarah Huckabee Sanders at FOX News' studios in New York City in 2019. Photo: Steven Ferdman/Getty Images

Former White House press secretary Sarah Huckabee Sanders will announce Monday that she's running for governor of Arkansas.

The big picture: Sanders was touted as a contender after it was announced she was leaving the Trump administration in June 2019. Then-President Trump tweeted he hoped she would run for governor, adding "she would be fantastic." Sanders is "seen as leader in the polls" in the Republican state, notes the Washington Post's Josh Dawsey, who first reported the news.

Felix Salmon, Stef W. Kight
2 hours ago - Politics & Policy

Coronavirus has inflamed global inequality

Illustration: Aïda Amer/Axios

History will likely remember the pandemic as the "first time since records began that inequality rose in virtually every country on earth at the same time." That's the verdict from Oxfam's inequality report covering the year 2020 — a terrible year that hit the poorest, hardest across the planet.

Why it matters: The world's poorest were already in a race against time, facing down an existential risk in the form of global climate change. The coronavirus pandemic could set global poverty reduction back as much as a full decade, according to the World Bank.

Go deeper (1 min. read)Arrow