Centene's executive vice president of healthcare enterprises has resigned, the health insurance company said in a Sept. 27 filing with the Securities and Exchange Commission.
Four things to know:
1. Centene said Jeffrey Schwaneke's resignation was effective Sept. 22. The company and Mr. Schwaneke "mutually agreed" that he would resign from his position and entered into a separation agreement, according to the SEC filing.
2. Under the separation agreement, Mr. Schwaneke will receive one year of his current salary. He also will receive a cash payment of $3 million in exchange for relinquishing any accelerated vesting of his outstanding and unvested equity awards.
3. Centene said Mr. Schwaneke will not receive a prorated annual bonus for this year.
4. Mr. Schwaneke stepped into the role of executive vice president of healthcare enterprises in May. He previously served as the company's CFO.