Mar 3, 2018

Cigna CEO cashed out $44 million in 2017

Bob Herman

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

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Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 9 p.m. ET: 721,584 — Total deaths: 33,958 — Total recoveries: 149,122.
  2. U.S.: Leads the world in cases. Total confirmed cases as of 9 p.m. ET: 142,106 — Total deaths: 2,479 — Total recoveries: 2,686.
  3. Federal government latest: President Trump says his administration will extend its "15 Days to Slow the Spread" guidelines until April 30.
  4. Public health updates: Fauci says 100,000 to 200,000 Americans could die from virus.
  5. State updates: Louisiana governor says state is on track to exceed ventilator capacity by end of this week — Cuomo says Trump's mandatory quarantine comments "panicked" some people into fleeing New York
  6. World updates: Italy on Sunday reports 756 new deaths, bringing its total 10,779. Spain reports almost 840 dead, another new daily record that bring its total to over 6,500.
  7. What should I do? Answers about the virus from Axios experts — What to know about social distancing — Q&A: Minimizing your coronavirus risk
  8. Other resources: CDC on how to avoid the virus, what to do if you get it.

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