Company: HUM
Filing Date: 2025-03-07
Form Type: DEF 14A
Source: 0001193125-25-048976
Chunk: 81

Company: HUMANA INC
Filing Date: 2025-03-07
Form: DEF 14A
Chunk 81
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ed ROIC, which the company does use when setting goals in the Company’s long-term incentive compensation program. |

| (8) | Adjusted EPSis defined at pageA-III-1of this proxy statement, under “Annex I - Reconciliation ofNon-GAAPFinancial Measure.” While the Company uses numerous financial andnon-financialperformance measures for the purpose of evaluating performance for the Company’s compensation programs, the Company has determined that Adjusted EPS is the financial performance measure that, in the Company’s assessment, represents the most important performance measure (that is not otherwise required to be disclosed in the table) used by the company to link CAP to the company’s NEOs, for the most recently completed fiscal year, to company performance. |

Pay Versus Performance Table As described in greater detail in the Compensation Discussion and Analysis set forth in this proxy statement, the Company’s executive compensation program reflects a variable pay-for-performancephilosophy. The metrics that the Company uses for both our long-term and short-term incentive awards are selected based on an objective of incentivizing our NEOs to increase the value of our enterprise for our shareholders. The three performance measures listed below represent an unranked list of the “most important” performance measures that Humana used to align CAP to the NEOs for 2024 and company performance. While these financial measures are the most important measures the company used to align CAP to the NEOs for 2024 and company performance, additional financial and other measures were also used to align pay and performance, as further described in the Compensation Discussion and Analysis section of this proxy statement.

The most important performance measures are:

| • |     | Adjusted Earnings Per Share |

| • |     | Adjusted Return on Invested Capital |

| • |     | Relative Total Shareholder Return |

These financial quantitative measures generally reflect those used internally to measure our performance and externally to report to investors, and we believe that, taken together, they provide a holistic measure of Company growth, shareholder value and overall financial performance. As noted above, we have deemed Adjusted EPS as the “most important” financial measure used to link our NEO’s compensation with performance and, as previously disclosed, it is being used as our Company Selected Measure. For more detail on these measures and why we believe that they are important in structuring our incentive compensation programs and linking pay with performance, please see the discussion under “Plan Design and Performance Measures” in this proxy statement.

| 80 |     | Humana |