Company: CI
Filing Date: 2025-03-14
Form Type: DEF 14A
Source: 0001739940-25-000015
Chunk: 95

Company: Cigna Group
Filing Date: 2025-03-14
Form: DEF 14A
Chunk 95
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 on December 31, 2024 ($276.14). For restricted stock and SPS awards, the value represents the number of shares of restricted stock or SPSs (at target performance) multiplied by the closing price of The Cigna Group’s common stock on December 31, 2024.

• Six months of outplacement services paid by the Company. For purposes of this estimate, a cost of $15,000 for outplacement services was used.

• A COBRA subsidy equal to the cost of the Company’s contributions for active medical coverage for up to 18 months.

Receipt of any payments or benefits under the Executive Severance Benefits Plan requires that the executive comply with any non-disclosure, non-competition, non-solicitation, and cooperation agreements entered into with the Company and execute a separation and release of claims agreement. If an executive fails to comply with any terms of the plan, including the aforementioned restrictive covenants, the Company may require repayment of any benefits received by the executive and any payments or benefits not yet received will be forfeited.

Termination upon a Change of Control (Column (b))

The payments and benefits discussed are hypothetical and contingent in nature. However, if a change of control were to occur, executive officers who are terminated (other than as the result of conviction of a felony involving fraud or dishonesty directed against The Cigna Group) within two years after a change of control would be entitled to the following payments and benefits:

• 156 weeks of pay at the base salary rate in effect at termination.

• Three times the higher of the executive’s last annual incentive payout and the amount of the executive’s annual incentive target immediately before the change of control.

• A prorated portion of his or her annual incentive target for the year in which termination occurs.

• Payout of all outstanding SPSs based on 100% of the applicable award. The value shown for each NEO represents the number of SPSs estimated to vest multiplied by $276.14, the closing price of The Cigna Group common stock on December 31, 2024.

• Unvested stock options and restricted stock awards would vest. Options granted prior to 2021 would expire on the earlier of the original expiration date or three months after the termination date. Options granted beginning in 2021 would expire on the earlier of the original expiration date or three years after the termination date.

• Six months of outplacement services paid by the Company. For purposes of this estimate, a cost