Former UnitedHealth Chief to Forfeit Over $400 Million

By REUTERS

NEW YORK (Reuters) - The former chief executive of UnitedHealth Group Inc will forfeit more than $400 million worth of stock options and retirement benefits under a settlement following a probe into the health insurer's options practices, the company said on Thursday.

Under the settlement, former CEO William McGuire will forfeit options valued at about $320 million as well as $91 million in retirement plan benefits, plus an additional $8 million in retirement savings.

Settlement agreements also were reached with former general counsel David Lubben, and former director William Spears, the company said.

(The article is here.)