UnitedHealth Group has cancelled the performance-based restricted stock units previously granted to its former CEO Andrew Witty.
The stock units were given to Mr. Witty in February, but he agreed to the cancellation after departing the company last month for personal reasons.
On May 13, UnitedHealth replaced Mr. Witty with its board chair and former CEO, Stephen Hemsley, and suspended its 2025 earnings outlook following an “unusual and unacceptable” first quarter performance marked by rising utilization across the company.
Mr. Witty had served as UnitedHealth’s CEO since 2021 and will continue to serve as a senior adviser to Mr. Hemsley.
Mr. Witty’s compensation package in 2024 totaled $26.3 million, including a $1.5 million salary, $17.3 million in stock awards, $5.8 million in option awards, and $1.5 million in non-equity incentive plan compensation.
