Company: CI
Filing Date: 2025-03-14
Form Type: DEF 14A
Source: 0001739940-25-000015
Chunk: 110

Company: Cigna Group
Filing Date: 2025-03-14
Form: DEF 14A
Chunk 110
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 institutional investors have generally not expressed concern regarding the one-year holding period, which is the subject of this shareholder proposal.

Each year, following the annual meeting of shareholders, the Corporate Governance Committee and the Board have considered: (1) feedback provided by shareholders during our engagement meetings; (2) industry benchmarking; (3) the concerns expressed in our proxy statements, including the view that the special meeting right should not be structured in a way to make it easier for shareholders with narrow or special interests to call a special meeting; and (4) importantly, that a majority of our shareholders rejected proposals to modify the existing shareholder right. Based on these reviews, the Board has determined that a modification to the existing special meeting right would not be in the best interests of our long-term shareholders or the Company. The Board and Corporate Governance Committee undertook a similar review upon receipt of this proposal and, following this review, once again unanimously recommends that shareholders vote AGAINST this proposal.

In addition to the shareholder special meeting right, The Cigna Group has several corporate governance policies and practices to protect the best interests of The Cigna Group and all our shareholders.

As discussed elsewhere in this Proxy Statement, the corporate governance policies and practices of The Cigna Group are continuously evolving, provide transparency, and afford all shareholders avenues to voice their opinions and encourage Board accountability and responsiveness:

• Annual election of directors : Since the 2018 Annual Meeting, all directors are elected annually.

• Board refreshment : Our Corporate Governance Committee engages in Board succession planning on an ongoing basis. Since our 2019 Annual Meeting of shareholders, we have appointed four new directors, while five directors completed their service on our Board.

• Proxy access right : In 2017, following engagement with shareholders, The Cigna Group adopted a proxy access by-law, allowing shareholders to include their nominees in the Company’s proxy materials for election at annual meetings.

• Majority voting standard : In uncontested elections, The Cigna Group has a majority voting standard.

• No supermajority voting provisions : In 2018, our Board removed all supermajority voting provisions in The Cigna Group governing documents so shareholders can amend all charter and by-law provisions by the affirmative vote of a majority of the Company’s outstanding stock.

• No poison pill : The Cigna Group does not have a shareholders’ rights plan in place.

• Clawback policy : In 2023, The Cigna Group adopted a clawback policy that complies with the requirements of the Dodd-Frank