Company: HUM
Filing Date: 2025-03-07
Form Type: DEF 14A
Source: 0001193125-25-048976
Chunk: 46

Company: HUMANA INC
Filing Date: 2025-03-07
Form: DEF 14A
Chunk 46
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 |     | Peer Group. We leverage a robust peer group comprised of companies in the managed care industry, health care services and facilities industry, and financial and other insurance-related industries to benchmark and assess our compensation programs and practices.                                                                                                                        |
| ✓               |     | Change in Control and Executive Severance Policies. We have a Severance Policy and Change in Control Policy, applicable to the CEO and other executive officers with restrictive covenants that align with the applicable severance period for any benefits.                                                                                                                                |
| ✓               |     | Clawback Policy. We maintain a clawback policy that both complies with recently adopted regulatory requirements and continues to apply to all incentive-based compensation in connection with improper conduct. Our current policy was adopted by the Board of Directors effective October 2, 2023 (replacing our prior policy in its entirety).                                            |

| Compensation Discussion and Analysis • 2025 Proxy Statement | Humana |     | 47 |

Leadership Changes and Related Compensation Decisions Chief Executive Officer Transition In 2023, following a rigorous and thorough search conducted by the Board, Humana identified Jim Rechtin to succeed Bruce Broussard as our President and Chief Executive Officer. As part of a deliberate transition plan, Mr. Rechtin joined the Company in January 2024 as our Chief Operating Officer, during which time he performed a disciplined, objective review of the Company and spent time with the Company’s associates. Following this transition period, Mr. Rechtin was elected as our President and Chief Executive Officer on July 1, 2024, at which time Mr. Broussard stepped down from that role. For additional information on our CEO Succession Planning Processes, please refer to the section titled “Management Succession and Leadership Development Planning – 2024 CEO Succession” in this proxy statement. For additional information regarding Mr. Broussard’s Transition & Separation Agreement with the Company, please refer to the section titled “Potential Payments Upon Termination or Change in Control of the Company — Mr. Broussard’s Transition Agreement” in this proxy statement. Mr. Rechtin’s annual award structure aligns with our overall pay for performance compensation philosophy and is comprised of the same equity mix as our other named executive officers to ensure full alignment of our management team. In connection with joining the Company, the Committee granted Mr. Rechtin an initial equity award of comprised of (i) time-based restricted stock units (“RSUs”) with