The company said the employment of Eric P. Palmer will end on April 26, 2025, after it disclosed on March 13 that it had executed an Agreement and Release with Mr. Palmer on April 15.

1. 01

   The company said the employment of Eric P. Palmer will end on April 26, 2025, after it disclosed on March 13 that it had executed an Agreement and Release with Mr. Palmer on April 15.

2. 02

   The Cigna Group said it will pay Mr. Palmer $5.2 million in cash under the Agreement and Release, subject to the terms of the release. The payment reflects 78 weeks of base pay, 150% of his 2025 EIP target, and other items.

3. 03

   The company said stock options, restricted stock and SPSs scheduled to vest within 12 months of April 26 will continue to vest. It estimated the total value of this equity treatment at about $4.8 million, based on the closing price of $328.63 on April 15, 2025.

4. 04

   The company said stock options granted before 2021 will expire on the earlier of their original expiration date or 90 days after April 26, 2025. Options granted after 2020 will expire 90 days after April 26, 2026. The People Resources Committee will determine the percentage of SPS shares earned and the timing of payment.

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Original filing

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