Health insurer UnitedHealth Group overcame a sluggish economy last year to manage 28 percent profit growth and rewarded CEO Stephen Hemsley by more than doubling his total compensation, The Associated Press reports.
An Associated Press analysis found that the 57-year-old executive received 2009 total compensation valued at $8.9 million from the Minnetonka, Minn., company with operations in Hartford, up from $3.2 million the year before.
Hemsley’s pay package included a $1.3 million base salary, a performance-based cash bonus of nearly $2 million and restricted stock and options valued at about $5.6 million.
The AP’s executive pay calculation, based on a regulatory filing, aims to isolate the value the company’s board placed on the CEO’s total compensation package. It includes salary, bonus, incentives, perks and the estimated value of options and awards.
