Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-07-06

UnitedHealth Group Inc (UNH)

Fiscal year 2025 executive and director compensation, incentive-plan design, equity activity, and governance — every figure in this brief is traceable to its exact location in the company’s SEC filing — the document, the section, the page, and the table, linked directly.

$60,938,062
Stephen Hemsley total, FY2025
80th
CEO pay percentile vs peers
748:1
CEO-to-median pay ratio
82.47%
Say-on-pay support, latest vote
Companies that benchmark against UNH
13 companies name UNH as a compensation peer

Each company listed discloses UNH in its own benchmarking peer group, as disclosed in each company's most recent proxy statement within the last two proxy seasons. Two companies are therefore absent by design: one that named UNH in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.

01

Summary Compensation Table — fiscal year 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Stephen Hemsley$596,154$0$0$60,000,024$0$0$341,884$60,938,062
Chief Executive Officer
Andrew Witty903,846017,250,5915,750,04800694,88724,599,372
Former Chief Executive Officer
John Rex1,400,000011,250,1893,750,088008,075,70424,475,981
Former President and Chief Financial Officer
Timothy Noel981,827015,000,5062,000,0791,750,0000469,33420,201,746
Chief Executive Officer, UnitedHealthcare
Patrick Conway980,577015,000,9192,000,0861,750,0000191,02819,922,610
Chief Executive Officer, Optum
Christopher Zaetta845,192012,250,8351,750,010925,000021,27015,792,307
Executive Vice President, Chief Legal Officer and Corporate Secretary
Wayne DeVeydt284,6151,200,0008,250,4303,250,0451,500,000097,59414,582,684
Chief Financial Officer

A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.

Three-year trend — total compensation per named executive

Named executive officerFY2025 totalFY2024 totalFY2023 totalΔ FY20242025
Stephen Hemsley$60,938,062
Andrew Witty24,599,37226,339,21523,534,936−1,739,843
John Rex24,475,98118,731,18316,074,137+5,744,798
Timothy Noel20,201,746
Patrick Conway19,922,610
Christopher Zaetta15,792,3076,873,295+8,919,012
Wayne DeVeydt14,582,684

Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.

02

Equity transactions since the proxy statement was filed

Every insider equity transaction reported on Form 4 after the 2025 proxy statement — acquisitions, dispositions, exercises, and withholdings — and therefore not reflected in any table in that document.

InsiderRoleTransaction dateCodeSharesPriceValueSecuritySource
Patrick ConwayChief Executive Officer, Optum2026-04-23D800$355$284,000CommonForm 4 ↗
Patrick ConwayChief Executive Officer, Optum2026-06-02D203.8237877,028CommonForm 4 ↗
Christopher ZaettaEVP & Chief Legal Officer2026-06-03D134.0237750,526CommonForm 4 ↗
Patrick ConwayChief Executive Officer, Optum2026-06-05D686.86399274,380CommonForm 4 ↗
Kristen GilDirector2026-06-23A800CommonForm 4 ↗
Scott GottliebDirector2026-06-23A300CommonForm 4 ↗
Christopher ZaettaEVP & Chief Legal Officer2026-06-23A60.6900CommonForm 4 ↗
Patrick ConwayChief Executive Officer, Optum2026-06-23A82.4900CommonForm 4 ↗
Timothy NoelChief Executive Officer, UHC2026-06-23A76.0600CommonForm 4 ↗
Stephen HemsleyDirector2026-06-23A4600CommonForm 4 ↗
Dennis Andrew StankiewiczChief Accounting Officer2026-06-23A50.5900CommonForm 4 ↗
Charles BakerDirector2026-06-23A1300CommonForm 4 ↗
F. William McNabb IIIDirector2026-06-23A5000CommonForm 4 ↗
Timothy FlynnDirector2026-06-23A6100CommonForm 4 ↗
Erin McSweeneyEVP & Chief People Officer2026-06-23A48.2300CommonForm 4 ↗
Wayne DeVeydtChief Financial Officer2026-06-23A111.7600CommonForm 4 ↗
John H. NoseworthyDirector2026-06-23A4100CommonForm 4 ↗
Paul GarciaDirector2026-06-23A1300CommonForm 4 ↗
Rice Valerie Montgomery MdDirector2026-06-23A4100CommonForm 4 ↗
Paul GarciaDirector2026-07-01A13200CommonForm 4 ↗
Paul GarciaDirector2026-07-01A8800CommonForm 4 ↗
Timothy FlynnDirector2026-07-01A22500CommonForm 4 ↗
Charles BakerDirector2026-07-01A22000CommonForm 4 ↗
Rice Valerie Montgomery MdDirector2026-07-01A22000CommonForm 4 ↗
John H. NoseworthyDirector2026-07-01A20600CommonForm 4 ↗
Scott GottliebDirector2026-07-01A21000CommonForm 4 ↗
Kristen GilDirector2026-07-01A20600CommonForm 4 ↗
F. William McNabb IIIDirector2026-07-01A25000CommonForm 4 ↗

Transaction codes per Form 4: A acquisition · S open-market sale · F tax withholding · M option exercise · G gift. Value = shares × price as reported. Dividend-equivalent and fractional-share accrual rows (derivative Class A, under $10,000 and under 2,000 shares) are aggregated per date; every row appears in full below.

03

Grants of plan-based awards — fiscal year 2025

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Patrick ConwayOPTION2025-02-2012,663$1,500,059
Patrick ConwayPSU2025-02-205,9723,000,452
Andrew WittyOPTION2025-02-2048,5405,750,048
John RexRSU2025-02-207,4643,750,063
Patrick ConwayPSU2025-12-2227,6799,000,104
Patrick ConwayRSU2025-02-202,9861,500,226
Patrick ConwayOPTION2025-06-026,550500,027
John RexPSU2025-02-2014,9287,500,126
Wayne DeVeydtPSU2025-12-2215,3785,000,310
Stephen HemsleyOPTION2025-05-14602,77360,000,024
Timothy NoelOPTION2025-02-2016,8842,000,079
Timothy NoelPSU2025-02-207,9624,000,268
Patrick ConwayPSU2025-06-023,2821,000,091
Christopher ZaettaPSU2025-02-206,9673,500,360
Wayne DeVeydtRSU2025-09-0210,5253,250,120
Timothy NoelPSU2025-12-2227,6799,000,104
Andrew WittyRSU2025-02-2011,4455,750,197
Andrew WittyPSU2025-02-2022,89011,500,394
Timothy NoelRSU2025-02-203,9812,000,134
Patrick ConwayRSU2025-06-021,641500,046
Wayne DeVeydtOPTION2025-09-0242,5513,250,045
Christopher ZaettaPSU2025-12-2221,5287,000,044
Christopher ZaettaOPTION2025-02-2014,7731,750,010
Christopher ZaettaRSU2025-02-203,4841,750,431
John RexOPTION2025-02-2031,6573,750,088
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Patrick Conway$2,000,272$13,000,647$2,000,08676.5%
Andrew Witty5,750,19711,500,3945,750,04850.0%
John Rex3,750,0637,500,1263,750,08850.0%
Wayne DeVeydt3,250,1205,000,3103,250,04543.5%
Stephen Hemsley0060,000,0240.0%
Timothy Noel2,000,13413,000,3722,000,07976.5%
Christopher Zaetta1,750,43110,500,4041,750,01075.0%

% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.

04

Outstanding equity awards at fiscal year-end 2025

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Andrew WittyRSU8,602$2,839,606
Christopher ZaettaPSU6,9672,299,876
Timothy NoelRSU4,0791,346,519
Timothy NoelPSU3,8321,264,982
Christopher ZaettaRSU3,5701,178,493
Patrick ConwayOption6,550304.72
Andrew WittyRSU2,325767,506
Christopher ZaettaPSU2,011663,851
Christopher ZaettaRSU783258,476
Timothy NoelRSU367121,150
Timothy NoelRSU806266,069
John RexRSU5,3861,777,972
Christopher ZaettaOption2,811497.44
Christopher ZaettaOption2,558491.69
Christopher ZaettaPSU21,5287,106,608
Christopher ZaettaRSU564186,182
John RexRSU3,5991,188,066
Patrick ConwayRSU3,0591,009,806
Timothy NoelOption1,410474.4
Christopher ZaettaPSU2,874948,736
Patrick ConwayRSU2,245741,097
Timothy NoelOption2,791491.69
Patrick ConwayRSU1,410465,455
Christopher ZaettaRSU740244,281
John RexPSU14,9284,927,882
Andrew WittyRSU11,7263,870,870
Timothy NoelPSU7,9622,628,336
John RexRSU7,3172,415,415
John RexPSU604199,386
John RexPSU13,7944,553,537
Timothy NoelPSU27,6799,137,115
Christopher ZaettaOption2,169474.4
John RexOption6,722474.4
Andrew WittyPSU22,0327,272,984
Wayne DeVeydtPSU15,3785,076,432
Wayne DeVeydtRSU10,6623,519,633
Patrick ConwayPSU5,9721,971,417
Patrick ConwayPSU5,7481,897,472
Andrew WittyRSU5,3721,773,351
Patrick ConwayRSU1,674552,604
Timothy NoelRSU1,496493,845
Patrick ConwayRSU1,074354,538
Patrick ConwayRSU846279,273
John RexRSU23577,576
Patrick ConwayPSU3,2821,083,421
Christopher ZaettaRSU1,122370,383
John RexRSU1,748577,032
Stephen HemsleyOption602,773308.01
Wayne DeVeydtOption42,551308.8
Patrick ConwayOption3,721491.69
Patrick ConwayOption3,253474.4
Andrew WittyOption8,944474.4
Andrew WittyOption18,603491.69
Patrick ConwayPSU27,6799,137,115
John RexOption844497.44
John RexOption12,464491.69
05

Incentive-plan design — the Compensation Discussion & Analysis

Pay for performance: Align the economic interests of our executives with those of our shareholders through achievement of enterprise-wide goals, sustained performance and positive shareholder returns. Enhance the long-term value of the business with executive pay weighted toward long-term compensation to promote long-term shareholder value creation and minimize excessive risk-taking. Reward performance that advances the Company's mission, supports the Company's values and emphasizes collaboration among executive officers while also recognizing individual performance. Attract and retain highly qualified executives through competitive pay and standard employee benefits with limited executive only benefits or perquisites.

CEO STI target (% of salary)
CEO LTI target (% of salary)
Independent consultantPay Governance
Clawback policyTrue
Anti-hedgingTrue
Anti-pledgingTrue
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-06-01559,434,838117,731,6181,163,99882.47%Passed
20252025-06-02451,227,441299,199,3221,688,32559.99%Passed
20242024-06-03729,597,13629,075,5271,895,61095.93%Passed
20232023-06-05745,152,35532,637,8282,271,26195.52%Passed

Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year's compensation.

Say-on-pay — history, company's computation

Meeting yearMeeting dateApproval — company's computation
20262026-06-0182.47%a
20252025-06-0259.99%b
20242024-06-0395.93%c

a. Approved under the standard stated in the filing — “Abstentions have the effect of an against vote on the advisory vote to approve our executive compensation, the ratification of the appointment of the Company's independent registered public accounting firm and the shareholder proposal.”.

b. Approved under the standard stated in the filing — “Abstentions have the effect of an against vote on the advisory vote to approve our executive compensation, the ratification of the appointment of the Company's independent registered public accounting firm and the shareholder proposal.”.

c. Approved under the standard stated in the filing — “Abstentions have the effect of an against vote on the advisory vote to approve our executive compensation, the ratification of the appointment of the Company's independent registered public accounting firm and the shareholder proposal.”.

Approval percentages are the company's own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.

07

CEO pay ratio

Ratio (CEO : median employee)748 : 1
CEO total compensation$60,938,062
Median employee compensation$81,474
08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Kristen GilIndependent · Audit and Finance$125,000$225,859$0$224,655$575,514
Michele HooperIndependent · Governance · Public Responsibility (Chair) · Not standing for re-election181,806225,859015,547423,212
F. William McNabb IIIIndependent · Lead Independent Director · Compensation and Human Resources · Governance0398,577010,869409,446
Timothy FlynnIndependent · Audit and Finance · Compensation and Human Resources0378,702025,737404,439
Valerie Montgomery Rice, M.DIndependent · Compensation and Human Resources · Health and Clinical Practice Policies0375,987015,000390,987
John Noseworthy, M.DIndependent · Compensation and Human Resources · Health and Clinical Practice Policies0366,797015,000381,797
Paul GarciaIndependent · Compensation and Human Resources (Chair)0360,366015,000375,366
Charles BakerIndependent · Audit and Finance · Governance (Chair) · Public Responsibility0360,029015,000375,029
Stephen HemsleyEmployee director · Board Chair0207,38704,502211,889
Scott Gottlieb, M.DIndependent · Health and Clinical Practice Policies · Public Responsibility · Newly elected042,0500042,050
09

Board fee structure and ownership guideline

Annual cash retainer$125,000
Annual equity retainer$225,000
Per board meeting fee
Committee chair fees (audit / comp / nom-gov)32,500 / 25,000 / 25,000
Stock ownership guideline$625,000
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$306,806
Equity awards (grant-date value)$2,941,613
All other compensation$341,310
Total cost of the board$3,589,729

Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.

10

Disclosed peer group — fiscal year 2025

The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.

10a

Peer reciprocity

Of the companies UnitedHealth Group Inc names as compensation peers, which name it back in their own disclosed peer groups. A peer set the market reciprocates reads differently from one selected in a single direction.

Reciprocity shown where the peer's own current proxy has been read — each mark is cited in the register to that peer's filing. A dash means the peer's current proxy was read and names no reciprocal group including UnitedHealth Group Inc.

10b

Chief executive pay against the peer group

Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company's own proxy statement.

RankCompanyFYChief executiveSalaryStock awardsOption awardsNon-equity incentiveTotal
1Microsoft Corporation2025Satya Nadella$2,500,000$84,245,496$0$9,555,000$96,496,790
2Citigroup Inc.2025Jane Fraser1,500,00059,570,80028,600,000095,757,800
3Wells Fargo & Company2025Charles Scharf2,500,00051,938,27829,988,820094,522,642
4Apple Inc.2025Tim Cook3,000,00057,535,293012,000,00074,294,811
5UnitedHealth Group Inc2025Stephen Hemsley596,154060,000,024060,938,062
6JPMorgan Chase & Co.2025James Dimon1,500,00032,500,00040,632,724
7International Business Machines2025Arvind Krishna1,500,00023,988,5866,606,3125,250,00037,989,685
8Bank of America Corporation2025Brian Moynihan1,500,00030,666,7470033,711,521
9Johnson & Johnson2025Joaquin Duato1,600,00015,028,9485,927,9954,298,70032,758,111
10Walmart, Inc.2026Doug McMillon1,500,00021,051,60504,032,00029,240,930
11Pfizer2025Albert Bourla1,800,0009,442,7058,998,1415,400,00027,585,301
12McKesson Corporation2026Brian Tyler1,591,66717,201,20204,456,66824,213,044
13The Cigna Group2025David Cordani1,600,00013,929,1613,400,0193,200,00022,866,134
14Elevance Health Inc.2025Gail Boudreaux1,600,00013,440,2774,199,7652,768,00022,582,314
15CVS Health Corporation2025J. David Joyner1,500,00014,499,93104,695,90021,214,084
16Centene Corporation2025Sarah London1,473,07715,537,73302,109,44619,506,298
17Cardinal Health, Inc.2025Jason Hollar1,492,32913,431,44103,551,74218,976,195
18Humana Inc.2025James Rechtin1,348,55813,868,14103,034,74018,757,075
19Cencora, Inc.2025Robert Mauch1,350,00012,000,21804,283,21318,256,227
20Alphabet Inc.2025Sundar Pichai2,007,69200010,906,079
21Amazon.com, Inc.2025Andrew Jassy365,0000002,069,861

Each peer's compensation is from its most recently filed proxy; fiscal years differ by company. Each peer's figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.

10c

Incentive design against the same peers

CompanyAnnual incentive payoutLong-term vehicle mixPSU measures include TSRCompensation consultant
UnitedHealth Group Incnot disclosedPSU 50 · Options 25 · RSU 25NoPay Governance
Alphabet Inc.not disclosednot disclosednot disclosedCompensia Inc. and Semler Brossy
Amazon.com, Inc.not disclosedRSU 100not disclosedNone (Committee may engage compensation consultants but did not do so in 2025)
Apple Inc.not disclosednot disclosednot disclosedPay Governance LLC
Bank of America Corporationnot disclosednot disclosedNoSemler Brossy
Cardinal Health, Inc.136%PSU 60 · RSU 40Yes — Relative TSR modifierKorn Ferry
Cencora, Inc.181.3%PSU 60 · RSU 40Yes — Relative TSRPearl Meyer & Partners
Centene Corporation71.6%PSU 60 · RSU 40Yes — Relative TSRFW Cook
Citigroup Inc.not disclosedPSU 50 · RSU 50Yes — TSRFW Cook
CVS Health Corporation156.5%PSU 60 · RSU 20 · Options 20Yes — rTSR ModifierKorn Ferry
Elevance Health Inc.86.5%PSU 52 · RSU 24 · Options 24NoWillis Towers Watson (WTW)
Humana Inc.112%PSU 60 · RSU 40Yes — Relative TSRFarient Advisors, LLC
International Business Machines150%not disclosedYes — Relative Total Shareholder Return (rTSR)Semler Brossy
Johnson & Johnsonnot disclosednot disclosednot disclosedSemler Brossy Consulting Group
JPMorgan Chase & Co.not disclosedcash 40 · PSU 30 · RSU 30Nonot disclosed
McKesson Corporation140%PSU 60 · RSU 40Yes — Total Shareholder Return (TSR) relative to comparator groupKorn Ferry
Microsoft Corporationnot disclosedPSA 100not disclosedPay Governance LLC
Pfizer150%PSU 50 · MSU 50Yes — relative TSR as compared to the NYSE Arca Pharmaceutical Index (DRG Index or DRG)Meridian Compensation Partners, LLC
The Cigna Group100%PSU 60 · RSU 20 · Options 20NoPay Governance
Walmart, Inc.112%not disclosedNoFarient Advisors LLC
Wells Fargo & Companynot disclosedPSU 65 · RSU 35Yes — Relative TSRMeridian Compensation Partners

Read from each company's Compensation Discussion and Analysis: annual incentive payout as a percentage of target, the disclosed long-term vehicle mix, whether performance-share measures include a total shareholder return component, and the retained compensation consultant. “Not disclosed” appears only where the company's filing does not state the item.

FAQ

Frequently asked questions

Who was the highest-paid executive at UnitedHealth Group Inc in fiscal 2025?
The filing shows Stephen Hemsley, Chief Executive Officer, as the highest-paid executive with total compensation of $60,938,062.
How does UnitedHealth Group Inc's chief executive pay compare to its disclosed peer group?
The company reported that the CEO's pay falls at the 80th percentile of the disclosed peer group.
What is UnitedHealth Group Inc's CEO-to-median employee pay ratio?
As disclosed, the CEO-to-median employee pay ratio was 748:1.
How did shareholders vote on UnitedHealth Group Inc's executive compensation?
Shareholders approved the compensation plan with 82.47% support in the latest vote.
How much does UnitedHealth Group Inc spend in total on board compensation for fiscal 2025?
The filing shows total board compensation for fiscal 2025 was $3,589,729.

Answers are drawn only from the figures disclosed in this brief and cited to their location in the source filing. Where a figure required for an answer is not disclosed, that is stated rather than estimated.

11

Source register

Each figure's location is given both for the eye (section · page · table · row · column) and for a script (table/row/column index and exact character span in the filed document). Any figure can be independently confirmed against the source.

#SupportsDocumentFiledAccessionLocation in document
1Section 01, Stephen HemsleyDEF 14A2026-04-210001104659-26-046125Section “2025 Summary Compensation Table” · page 55. As printed: 60,938,062. Filing ↗machine: r1 · c48 · span 1832651–1832661
2Section 01, Andrew WittyDEF 14A2026-04-210001104659-26-046125Section “2025 Summary Compensation Table” · page 55. As printed: 24,599,372. Filing ↗machine: r7 · c48 · span 1868619–1868629
3Section 01, John RexDEF 14A2026-04-210001104659-26-046125Section “2025 Summary Compensation Table” · page 55. As printed: 24,475,981. Filing ↗machine: r10 · c48 · span 1884101–1884111
4Section 01, Timothy NoelDEF 14A2026-04-210001104659-26-046125Section “2025 Summary Compensation Table” · page 55. As printed: 20,201,746. Filing ↗machine: r3 · c48 · span 1845633–1845643
5Section 01, Patrick ConwayDEF 14A2026-04-210001104659-26-046125Section “2025 Summary Compensation Table” · page 55. As printed: 19,922,610. Filing ↗machine: r4 · c48 · span 1852090–1852100
6Section 01, Christopher ZaettaDEF 14A2026-04-210001104659-26-046125Section “2025 Summary Compensation Table” · page 55. As printed: 15,792,307. Filing ↗machine: r5 · c48 · span 1857513–1857523
7Section 01, Wayne DeVeydtDEF 14A2026-04-210001104659-26-046125Section “2025 Summary Compensation Table” · page 55. As printed: 14,582,684. Filing ↗machine: r2 · c48 · span 1839149–1839159
8Section 03, Patrick Conway OPTIONDEF 14A2026-04-210001104659-26-046125Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t196 · r23 · c54 · span 2130321–2130327
9Section 03, Patrick Conway PSUDEF 14A2026-04-210001104659-26-046125Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t196 · r18 · c36 · span 2097521–2097526
10Section 03, Andrew Witty OPTIONDEF 14A2026-04-210001104659-26-046125Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t163 · r6 · c22 · span 1596614–1596620
11Section 03, John Rex RSUDEF 14A2026-04-210001104659-26-046125Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t163 · r7 · c15 · span 1600248–1600253
12Section 03, Patrick Conway PSUDEF 14A2026-04-210001104659-26-046125Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t142 · r3 · c8 · span 1330887–1330893
13Section 03, Patrick Conway RSUDEF 14A2026-04-210001104659-26-046125Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t196 · r21 · c48 · span 2117329–2117334
14Section 03, Patrick Conway OPTIONDEF 14A2026-04-210001104659-26-046125Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t172 · r1 · c15 · span 1720787–1720792
15Section 03, John Rex PSUDEF 14A2026-04-210001104659-26-046125Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t163 · r7 · c8 · span 1599363–1599369
16Section 03, Wayne DeVeydt PSUDEF 14A2026-04-210001104659-26-046125Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t142 · r1 · c8 · span 1325543–1325549
17Section 03, Stephen Hemsley OPTIONDEF 14A2026-04-210001104659-26-046125Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t163 · r1 · c22 · span 1574495–1574502
18Section 03, Timothy Noel OPTIONDEF 14A2026-04-210001104659-26-046125Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t163 · r3 · c22 · span 1583413–1583419
19Section 03, Timothy Noel PSUDEF 14A2026-04-210001104659-26-046125Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t163 · r3 · c8 · span 1581642–1581647
20Section 03, Patrick Conway PSUDEF 14A2026-04-210001104659-26-046125Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t196 · r19 · c36 · span 2103727–2103732
21Section 03, Christopher Zaetta PSUDEF 14A2026-04-210001104659-26-046125Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t163 · r5 · c8 · span 1590446–1590451
22Section 03, Wayne DeVeydt RSUDEF 14A2026-04-210001104659-26-046125Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t163 · r2 · c15 · span 1578130–1578136
23Section 03, Timothy Noel PSUDEF 14A2026-04-210001104659-26-046125Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t142 · r2 · c8 · span 1328208–1328214
24Section 03, Andrew Witty RSUDEF 14A2026-04-210001104659-26-046125Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t163 · r6 · c15 · span 1595726–1595732
25Section 03, Andrew Witty PSUDEF 14A2026-04-210001104659-26-046125Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t163 · r6 · c8 · span 1594841–1594847
26Section 03, Timothy Noel RSUDEF 14A2026-04-210001104659-26-046125Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t163 · r3 · c15 · span 1582526–1582531
27Section 03, Patrick Conway RSUDEF 14A2026-04-210001104659-26-046125Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t196 · r22 · c48 · span 2123454–2123459
28Section 03, Wayne DeVeydt OPTIONDEF 14A2026-04-210001104659-26-046125Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t163 · r2 · c22 · span 1579018–1579024
29Section 03, Christopher Zaetta PSUDEF 14A2026-04-210001104659-26-046125Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t142 · r4 · c8 · span 1333564–1333570
30Section 03, Christopher Zaetta OPTIONDEF 14A2026-04-210001104659-26-046125Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t163 · r5 · c22 · span 1592217–1592223
31Section 03, Christopher Zaetta RSUDEF 14A2026-04-210001104659-26-046125Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t163 · r5 · c15 · span 1591330–1591335
32Section 03, John Rex OPTIONDEF 14A2026-04-210001104659-26-046125Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t163 · r7 · c22 · span 1601135–1601141
33Section 07, pay ratioDEF 14A2026-04-210001104659-26-046125Section “CEO Pay Ratio”. As printed: 748 : 1. Filing ↗machine: span 2916586–2916591
34Section 08, Kristen GilDEF 14A2026-04-210001104659-26-046125Section “Director Compensation”. As printed: 575,514. Filing ↗machine: t98 · r4 · c29 · span 982339–982346
35Section 08, Michele HooperDEF 14A2026-04-210001104659-26-046125Section “Director Compensation”. As printed: 423,212. Filing ↗machine: t98 · r7 · c29 · span 995508–995515
36Section 08, F. William McNabb IIIDEF 14A2026-04-210001104659-26-046125Section “Director Compensation”. As printed: 409,446. Filing ↗machine: t98 · r8 · c29 · span 999903–999910
37Section 08, Timothy FlynnDEF 14A2026-04-210001104659-26-046125Section “Director Compensation”. As printed: 404,439. Filing ↗machine: t98 · r2 · c29 · span 973568–973575
38Section 08, Valerie Montgomery Rice, M.DDEF 14A2026-04-210001104659-26-046125Section “Director Compensation”. As printed: 390,987. Filing ↗machine: t98 · r9 · c29 · span 1004306–1004313
39Section 08, John Noseworthy, M.DDEF 14A2026-04-210001104659-26-046125Section “Director Compensation”. As printed: 381,797. Filing ↗machine: t98 · r10 · c29 · span 1008701–1008708
40Section 08, Paul GarciaDEF 14A2026-04-210001104659-26-046125Section “Director Compensation”. As printed: 375,366. Filing ↗machine: t98 · r3 · c29 · span 977953–977960
41Section 08, Charles BakerDEF 14A2026-04-210001104659-26-046125Section “Director Compensation”. As printed: 375,029. Filing ↗machine: t98 · r1 · c29 · span 969181–969188
42Section 08, Stephen HemsleyDEF 14A2026-04-210001104659-26-046125Section “Director Compensation”. As printed: 211,889. Filing ↗machine: t98 · r6 · c29 · span 991120–991127
43Section 08, Scott Gottlieb, M.DDEF 14A2026-04-210001104659-26-046125Section “Director Compensation”. As printed: 42,050. Filing ↗machine: t98 · r5 · c15 · span 984964–984970
44Section 02, Patrick Conway 2026-04-23Form 42026-04-270000731766-26-000123Insider equity transaction reported since the proxy statement. Filing ↗
45Section 02, Patrick Conway 2026-06-02Form 42026-06-040000731766-26-000134Insider equity transaction reported since the proxy statement. Filing ↗
46Section 02, Christopher Zaetta 2026-06-03Form 42026-06-040000731766-26-000136Insider equity transaction reported since the proxy statement. Filing ↗
47Section 02, Patrick Conway 2026-06-05Form 42026-06-090000731766-26-000140Insider equity transaction reported since the proxy statement. Filing ↗
48Section 02, Kristen Gil 2026-06-23Form 42026-06-250000731766-26-000169Insider equity transaction reported since the proxy statement. Filing ↗
49Section 02, Scott Gottlieb 2026-06-23Form 42026-06-250000731766-26-000168Insider equity transaction reported since the proxy statement. Filing ↗
50Section 02, Christopher Zaetta 2026-06-23Form 42026-06-250000731766-26-000165Insider equity transaction reported since the proxy statement. Filing ↗
51Section 02, Patrick Conway 2026-06-23Form 42026-06-250000731766-26-000167Insider equity transaction reported since the proxy statement. Filing ↗
52Section 02, Timothy Noel 2026-06-23Form 42026-06-250000731766-26-000166Insider equity transaction reported since the proxy statement. Filing ↗
53Section 02, Stephen Hemsley 2026-06-23Form 42026-06-250000731766-26-000163Insider equity transaction reported since the proxy statement. Filing ↗
54Section 02, Dennis Andrew Stankiewicz 2026-06-23Form 42026-06-250000731766-26-000162Insider equity transaction reported since the proxy statement. Filing ↗
55Section 02, Charles Baker 2026-06-23Form 42026-06-250000731766-26-000161Insider equity transaction reported since the proxy statement. Filing ↗
56Section 02, F. William McNabb III 2026-06-23Form 42026-06-250000731766-26-000160Insider equity transaction reported since the proxy statement. Filing ↗
57Section 02, Timothy Flynn 2026-06-23Form 42026-06-250000731766-26-000159Insider equity transaction reported since the proxy statement. Filing ↗
58Section 02, Erin McSweeney 2026-06-23Form 42026-06-250000731766-26-000173Insider equity transaction reported since the proxy statement. Filing ↗
59Section 02, Wayne DeVeydt 2026-06-23Form 42026-06-250000731766-26-000164Insider equity transaction reported since the proxy statement. Filing ↗
60Section 02, John H. Noseworthy 2026-06-23Form 42026-06-250000731766-26-000172Insider equity transaction reported since the proxy statement. Filing ↗
61Section 02, Paul Garcia 2026-06-23Form 42026-06-250000731766-26-000171Insider equity transaction reported since the proxy statement. Filing ↗
62Section 02, Rice Valerie Montgomery Md 2026-06-23Form 42026-06-250000731766-26-000170Insider equity transaction reported since the proxy statement. Filing ↗
63Section 02, Paul Garcia 2026-07-01Form 42026-07-060000731766-26-000179Insider equity transaction reported since the proxy statement. Filing ↗
64Section 02, Paul Garcia 2026-07-01Form 42026-07-060000731766-26-000179Insider equity transaction reported since the proxy statement. Filing ↗
65Section 02, Timothy Flynn 2026-07-01Form 42026-07-060000731766-26-000177Insider equity transaction reported since the proxy statement. Filing ↗
66Section 02, Charles Baker 2026-07-01Form 42026-07-060000731766-26-000175Insider equity transaction reported since the proxy statement. Filing ↗
67Section 02, Rice Valerie Montgomery Md 2026-07-01Form 42026-07-060000731766-26-000187Insider equity transaction reported since the proxy statement. Filing ↗
68Section 02, John H. Noseworthy 2026-07-01Form 42026-07-060000731766-26-000189Insider equity transaction reported since the proxy statement. Filing ↗
69Section 02, Scott Gottlieb 2026-07-01Form 42026-07-060000731766-26-000183Insider equity transaction reported since the proxy statement. Filing ↗
70Section 02, Kristen Gil 2026-07-01Form 42026-07-060000731766-26-000181Insider equity transaction reported since the proxy statement. Filing ↗
71Section 02, F. William McNabb III 2026-07-01Form 42026-07-060000731766-26-000185Insider equity transaction reported since the proxy statement. Filing ↗
72Section 06, 2026 voteForm 8-K2026-06-050000731766-26-000138Item 5.07 · say-on-pay result. As reported: 82.47% (votes for as printed: 559,434,838). Filing ↗
73Section 06, 2025 voteForm 8-K2025-06-040000731766-25-000154Item 5.07 · say-on-pay result. As reported: 59.99% (votes for as printed: 451,227,441). Filing ↗
74Section 06, 2024 voteForm 8-K2024-06-070000731766-24-000167Item 5.07 · say-on-pay result. As reported: 95.93% (votes for as printed: 729,597,136). Filing ↗
75Section 01 trend, Δ column (computed)ComputedcomputedΔ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
76Section 03b vehicle mix (computed)ComputedcomputedRSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).machine: formula: sums + PSU ratio
77Section 09b board cost (computed)ComputedcomputedCash 306,806 + equity 2,941,613 + all other 341,310 = 3,589,729, summed across the director compensation table rows.machine: formula: Σ = 3,589,729
78Microsoft Corporation, Section 10b CEO totalDEF 14A2025-10-210001193125-25-245150CEO total compensation as printed in Microsoft Corporation's own proxy. As printed: 96,496,790. Filing ↗machine: r2 · c27 · span 1059364–1059374
79Citigroup Inc., Section 10b CEO totalDEF 14A2026-04-020001206774-26-000185CEO total compensation as printed in Citigroup Inc.'s own proxy. As printed: 95,757,800. Filing ↗machine: t303 · r1 · c9 · span 1389939–1389949
80Wells Fargo & Company, Section 10b CEO totalDEF 14A2026-03-180000072971-26-000200CEO total compensation as printed in Wells Fargo & Company's own proxy. As printed: 94,522,642. Filing ↗machine: r3 · c24 · span 1599000–1599010
81Apple Inc., Section 10b CEO totalDEF 14A2026-01-080001308179-26-000008CEO total compensation as printed in Apple Inc.'s own proxy. As printed: 74,294,811. Filing ↗machine: span 549351–549361
82UnitedHealth Group Inc (subject), Section 10b CEO totalDEF 14A2026-04-210001104659-26-046125CEO total compensation as printed in UnitedHealth Group Inc's own proxy. As printed: 60,938,062. Filing ↗machine: r1 · c48 · span 1832651–1832661
83JPMorgan Chase & Co., Section 10b CEO totalDEF 14A2026-04-060000019617-26-000096CEO total compensation as printed in JPMorgan Chase & Co.'s own proxy. As printed: 40,632,724. Filing ↗machine: span 1754306–1754316
84International Business Machines, Section 10b CEO totalDEF 14A2026-03-100000051143-26-000025CEO total compensation as printed in International Business Machines's own proxy. As printed: 37,989,685. Filing ↗machine: r11 · c51 · span 1119293–1119303
85Bank of America Corporation, Section 10b CEO totalDEF 14A2026-03-230001193125-26-118929CEO total compensation as printed in Bank of America Corporation's own proxy. As printed: 33,711,521. Filing ↗machine: r3 · c39 · span 1377520–1377530
86Johnson & Johnson, Section 10b CEO totalDEF 14A2026-03-110000200406-26-000063CEO total compensation as printed in Johnson & Johnson's own proxy. As printed: 32,758,111. Filing ↗machine: r3 · c27 · span 1621235–1621246
87Walmart, Inc., Section 10b CEO totalDEF 14A2026-04-230001193125-26-173673CEO total compensation as printed in Walmart, Inc.'s own proxy. As printed: 29,240,930. Filing ↗machine: r4 · c16 · span 3840466–3840476
88Pfizer, Section 10b CEO totalDEF 14A2026-03-120000078003-26-000033CEO total compensation as printed in Pfizer's own proxy. As printed: 27,585,301. Filing ↗machine: t242 · r3 · c12 · span 1506825–1506835
89McKesson Corporation, Section 10b CEO totalDEF 14A2026-06-120000927653-26-000169CEO total compensation as printed in McKesson Corporation's own proxy. As printed: 24,213,044. Filing ↗machine: r2 · c21 · span 1260172–1260182
90The Cigna Group, Section 10b CEO totalDEF 14A2026-03-130001739940-26-000023CEO total compensation as printed in The Cigna Group's own proxy. As printed: 22,866,134. Filing ↗machine: t303 · r3 · c16 · span 1360729–1360739
91Elevance Health Inc., Section 10b CEO totalDEF 14A2026-03-270001156039-26-000031CEO total compensation as printed in Elevance Health Inc.'s own proxy. As printed: 22,582,314. Filing ↗machine: span 1161376–1161386
92CVS Health Corporation, Section 10b CEO totalDEF 14A2026-04-030001308179-26-000201CEO total compensation as printed in CVS Health Corporation's own proxy. As printed: 21,214,084. Filing ↗machine: r1 · c18 · span 969864–969874
93Centene Corporation, Section 10b CEO totalDEF 14A2026-03-260001071739-26-000077CEO total compensation as printed in Centene Corporation's own proxy. As printed: 19,506,298. Filing ↗machine: r2 · c30 · span 1494721–1494732
94Cardinal Health, Inc., Section 10b CEO totalDEF 14A2025-09-160000721371-25-000114CEO total compensation as printed in Cardinal Health, Inc.'s own proxy. As printed: 18,976,195. Filing ↗machine: r2 · c24 · span 1215211–1215221
95Humana Inc., Section 10b CEO totalDEF 14A2026-03-060001104659-26-024799CEO total compensation as printed in Humana Inc.'s own proxy. As printed: 18,757,075. Filing ↗machine: t157 · r1 · c63 · span 1938706–1938716
96Cencora, Inc., Section 10b CEO totalDEF 14A2026-01-220001628280-26-003061CEO total compensation as printed in Cencora, Inc.'s own proxy. As printed: 18,256,227. Filing ↗machine: r2 · c18 · span 1212336–1212346
97Alphabet Inc., Section 10b CEO totalDEF 14A2026-04-240001308179-26-000342CEO total compensation as printed in Alphabet Inc.'s own proxy. As printed: 10,906,079. Filing ↗machine: span 994293–994303
98Amazon.com, Inc., Section 10b CEO totalDEF 14A2026-04-090001104659-26-041026CEO total compensation as printed in Amazon.com, Inc.'s own proxy. As printed: 2,069,861. Filing ↗machine: span 1010745–1010754
99Section 10a, Citigroup Inc. reciprocityDEF 14A0001206774-26-000185Citigroup Inc.'s most recent proxy was read; its disclosed peer group does not include UnitedHealth Group Inc. Filing ↗
100Section 10a, Humana Inc. reciprocityDEF 14A0001104659-26-024799Humana Inc. names UnitedHealth Group Inc in its own disclosed peer group (read from its most recent proxy). Filing ↗
101Section 10a, Wells Fargo & Company reciprocityDEF 14A0000072971-26-000200Wells Fargo & Company's most recent proxy was read; its disclosed peer group does not include UnitedHealth Group Inc. Filing ↗
102Section 10a, The Cigna Group reciprocityDEF 14A0001739940-26-000023The Cigna Group names UnitedHealth Group Inc in its own disclosed peer group (read from its most recent proxy). Filing ↗
103Section 10a, JPMorgan Chase & Co. reciprocityDEF 14A0000019617-26-000096JPMorgan Chase & Co.'s most recent proxy was read; its disclosed peer group does not include UnitedHealth Group Inc. Filing ↗
104Section 10a, Apple Inc. reciprocityDEF 14A0001308179-26-000008Apple Inc. names UnitedHealth Group Inc in its own disclosed peer group (read from its most recent proxy). Filing ↗
105Section 10a, Microsoft Corporation reciprocityDEF 14A0001193125-25-245150Microsoft Corporation's most recent proxy was read; its disclosed peer group does not include UnitedHealth Group Inc. Filing ↗
106Section 10a, Centene Corporation reciprocityDEF 14A0001071739-26-000077Centene Corporation names UnitedHealth Group Inc in its own disclosed peer group (read from its most recent proxy). Filing ↗
107Section 10a, Elevance Health Inc. reciprocityDEF 14A0001156039-26-000031Elevance Health Inc. names UnitedHealth Group Inc in its own disclosed peer group (read from its most recent proxy). Filing ↗
108Section 10a, Cardinal Health, Inc. reciprocityDEF 14A0000721371-25-000114Cardinal Health, Inc. names UnitedHealth Group Inc in its own disclosed peer group (read from its most recent proxy). Filing ↗
109Section 10a, Johnson & Johnson reciprocityDEF 14A0000200406-26-000063Johnson & Johnson's most recent proxy was read; its disclosed peer group does not include UnitedHealth Group Inc. Filing ↗
110Section 10a, Walmart, Inc. reciprocityDEF 14A0001193125-26-173673Walmart, Inc.'s most recent proxy was read; its disclosed peer group does not include UnitedHealth Group Inc. Filing ↗
111Section 10a, International Business Machines reciprocityDEF 14A0000051143-26-000025International Business Machines's most recent proxy was read; its disclosed peer group does not include UnitedHealth Group Inc. Filing ↗
112Section 10a, Bank of America Corporation reciprocityDEF 14A0001193125-26-118929Bank of America Corporation's most recent proxy was read; its disclosed peer group does not include UnitedHealth Group Inc. Filing ↗
113Section 10a, McKesson Corporation reciprocityDEF 14A0000927653-26-000169McKesson Corporation names UnitedHealth Group Inc in its own disclosed peer group (read from its most recent proxy). Filing ↗
114Section 10a, Cencora, Inc. reciprocityDEF 14A0001628280-26-003061Cencora, Inc.'s most recent proxy was read; its disclosed peer group does not include UnitedHealth Group Inc. Filing ↗
115Section 10a, Alphabet Inc. reciprocityDEF 14A0001308179-26-000342Alphabet Inc.'s most recent proxy was read; its disclosed peer group does not include UnitedHealth Group Inc. Filing ↗
116Section 10a, Amazon.com, Inc. reciprocityDEF 14A0001104659-26-041026Amazon.com, Inc.'s most recent proxy was read; its disclosed peer group does not include UnitedHealth Group Inc. Filing ↗
117Section 10a, Pfizer reciprocityDEF 14A0000078003-26-000033Pfizer's most recent proxy was read; its disclosed peer group does not include UnitedHealth Group Inc. Filing ↗