Company: HUM
Filing Date: 2025-03-07
Form Type: DEF 14A
Source: 0001193125-25-048976
Chunk: 13

Company: HUMANA INC
Filing Date: 2025-03-07
Form: DEF 14A
Chunk 13
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, and management team to encourage open communication, collaboration, and differences in perspective.          |     | Evaluates overall Board effectiveness, with emphasis on identifying areas of enhancement, development and/or furtherance and communicating these observances to the Board for discussion.                         
 Represents the Board on occasions where it is important for the Board to respond on matters independently from the Company’s management team.                                                                     
 Provides guidance and direction to the CEO and management team.                                                                                                                                                   
 Engages with stockholders, through verbal or written communications, and presides over the Company’s Annual Meeting of Stockholders. Also recommends to the Board an agenda to be followed at the Annual Meeting. 
 Works with the Organization & Compensation Committee to develop the process for CEO compensation evaluations.                                                                                                     |

Our Board maintains the flexibility to choose the leadership structure that is in the best interests of our stockholders. When making this determination, the Board considers the recommendation of the Nominating, Governance & Sustainability Committee, the current circumstances and strategic priorities at the Company, and the skills and experiences of the individuals involved, among other considerations.

| Corporate Governance • 2025 Proxy Statement | Humana |     | 19 |

At this time, given the composition of the Company’s Board, Mr. Hilzinger’s effectiveness as our Chairman, status as an independent director and previous service as our Lead Director, the current challenges faced by the Company, and our recent CEO transition, the Board believes that separating the chief executive officer and board chairman positions provides the Company with the right foundation to pursue the Company’s strategic and operational objectives, while maintaining effective independent oversight and objective evaluation of the performance of the Company. During a period in which the chairman and chief executive officer positions are combined, a Lead Director is appointed from our independent directors. The Lead Director sets agendas for and convenes meetings and executive sessions of the independent directors, approves Board meeting agendas, and otherwise represents the Board on occasions where it is important for the Board to respond independently from the Company’s management team. Our stockholders would be notified of a combination of the chairman and chief executive officer role promptly upon the Board’s decision to do so. Board Engagement and Undertakings The Board holds itself to a high standard of engagement, with a hands-onapproach that leads to critical insights regarding our customers, operations and business and enhances their level of governance and oversight. An essential component to the Board’s engagement is communicating with the Company’s internal and external stakeholders. To accomplish this, meetings of the Board may be held in key