Company: CI
Filing Date: 2025-03-14
Form Type: DEF 14A
Source: 0001739940-25-000015
Chunk: 77

Company: Cigna Group
Filing Date: 2025-03-14
Form: DEF 14A
Chunk 77
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Benefits in a double-trigger situation include the following:

• A lump sum cash severance payment equal to 156 weeks (approximately three years) of base salary plus three times the higher of: (1) the most recent annual incentive paid; and (2) the target annual incentive. The intent of the formula for the annual incentive amount is to reward the executive officer for the level of expected performance prior to the change of control.

| The Cigna Group| 2025 Notice of Annual Meeting of Shareholders and Proxy Statement |     | 75 |

| COMPENSATION MATTERS |

• A payment equal to such individual’s prorated EIP target for the year of termination plus, if the separation date occurs before the payment of the annual incentive for the preceding year, an amount equal to the greater of: (1) the executive officer’s current annual incentive target; or (2) the annual incentive target for the year of the change of control.

• Full vesting of all unvested stock options, restricted stock, and RSUs. As a result, if an executive is involuntarily terminated without cause or resigns for good reason within a two-year period following a change of control, the executive is able to realize the shareholder value to which the executive contributed while employed at the Company.

• Vesting of all outstanding SPS awards based on the target vesting percentage of 100%. The intent of this formula is to provide executive officers with a reasonable estimate of the potential payouts and to avoid placing executive officers at a disadvantage as a result of a change of control.

• At the Company’s expense, twelve months of basic life insurance plan coverage and six months of reasonable outplacement services following a change of control.

• 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 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.

No Change of Control Excise Tax Gross-Ups

We do not provide gross-ups as part of our regular executive compensation program. If any portion of the change of control benefits paid to an executive officer would be subject to a change