Despite forgoing a salary, Clover Health CEO Vivek Garipalli was the highest paid CEO at a publicly traded health insurance company in 2021 thanks to equity awards, according to an S&P Global report.
Mr. Garipalli received $389.6 million in stocks during 2021, comprising the entirety of his earnings. That figure made him far and away the highest compensated health insurance CEO.
The second-highest paid CEO in 2021 was Bright Health Group's George Mikan, whose equity awards also made up a significant portion of his earnings, according to the report. He earned $180.9 million last year, receiving $94.8 million in stocks, $83.7 million in options granted and $2.3 million in cash compensation. His compensation package increased by more than 3,000 percent over 2020.
Oscar Health's CEO Mario Schlosser saw his total compensation increase by more than 10,000 percent over 2020. He was the third highest compensated CEO in 2021 at $60.8 million. Of that total, $60.2 million was in stocks granted.