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Cigna Group 8-K Report, Executive Changes (Mar 3, 2026)

Reports
Leadership Changes·Regulation FD·Exhibits & Filings
Filing Date
Filed March 3, 2026
Period End
February 25, 2026
Security
CI
In the record · 2018–202610-K810-Q238-K136

CI filed 8 annual reports (10-K), 23 quarterly reports (10-Q) and 136 current reports (8-K) between 2018 and 2026.

  1. Deal closed8-K · Feb ’19Feb ’19
  2. Material agreement8-K · Apr ’21Apr ’21
  3. Leadership change8-K · Sep ’23Sep ’23
  4. Leadership change8-K · Jun ’25Jun ’25

01—Abstract

Summary

Summary of the 8-K filed March 3, 2026. Cited figures are marked; the original filing is the authoritative source.

The Cigna Group (CI) announced a planned CEO transition: Board-appointed President & COO Brian C.

Evanko will succeed David M. Cordani as Chief Executive Officer effective July 1, 2026, with Cordani becoming Executive Chair. Evanko, 49, has held senior roles across the company including CFO (2021-2024), CEO of Cigna Healthcare (2024-2025), and President & COO since March 2025, giving investors continuity from an internally developed successor.

Evanko also joins the Board as a director effective April 1, 2026, which expands the Board to twelve members, and Eric J. Foss becomes Lead Independent Director on the same date, succeeding Eric C. Wiseman, who moves to chair the Corporate Governance Committee.

Committee assignments were reshuffled effective April 1, 2026. Compensation for the incoming CEO is set at a $1.3 milliona base salary, a $2.6 million EIP target, and a $15.1 million annual LTI target, weighted 60% performance shares, 25% restricted stock, and 15% options. A one-time $3.5 million Transitional Equity Award is contingent on him assuming the CEO role.

Cordani's Executive Chair pay is $1.0 millionb base and a $2.0 million EIP target, and his 2026-2028 SPS award can continue vesting after retirement if he remains in service one year from grant and complies with restrictive covenants. Separately, under Regulation FD, Cigna reaffirmed its 2026 outlook: consolidated adjusted income from operations of at least $30.25 per share, Evernorth pre-tax adjusted income from operations of at least $6.9 billion, and Cigna Healthcare pre-tax adjusted income from operations of at least $4.5 billion. Because the guidance was reiterated rather than changed, the leadership transition does not by itself alter the company's near-term earnings expectations.

02—Key points

Key Highlights

  1. CEO succession: Brian C. Evanko (President & COO) becomes CEO effective July 1, 2026, succeeding David M. Cordani, who becomes Executive Chair.
  2. Evanko's background includes CFO of The Cigna Group (2021-2024) and CEO of Cigna Healthcare (2024-2025), indicating an internal succession with broad operating and financial experience.
  3. Board changes effective April 1, 2026: Evanko joins as a director (Board expands to 12), Eric J. Foss becomes Lead Independent Director, and Eric C. Wiseman chairs the Corporate Governance Committee.
  4. CEO pay package: $1.3M base salary, $2.6M EIP target, $15.1M LTI target (60% SPS / 25% restricted stock / 15% options), plus a one-time $3.5M Transitional Equity Award.
  5. Executive Chair Cordani receives $1.0M base and $2.0M EIP target; his 2026-2028 SPS award may continue vesting post-retirement subject to one-year service and restrictive covenant compliance.
  6. 2026 guidance reaffirmed: consolidated adjusted income from operations of at least $30.25 per share, Evernorth at least $6.9B, and Cigna Healthcare at least $4.5B pre-tax.

03—Questions

Frequently Asked Questions

  1. Why is Cigna changing CEOs, and who is taking over?

    David Cordani is retiring as CEO effective July 1, 2026 and will become Executive Chair of the Board. Brian Evanko, the current President and COO, will succeed him as CEO. The company describes the transition as a natural next chapter after Cordani's roughly 17-year tenure as CEO, which it credits with significant portfolio transformation and a total shareholder return increase of more than 750%.

  2. Does the CEO transition change Cigna's 2026 financial outlook?

    No. The company reaffirmed its 2026 guidance of at least $30.25 per share in consolidated adjusted income from operations, at least $6.9 billion in Evernorth pre-tax adjusted income from operations, and at least $4.5 billion in Cigna Healthcare pre-tax adjusted income from operations. The guidance was previously issued on February 5, 2026.

  3. How is the new CEO being compensated, and does the pay package signal anything about incentives?

    Evanko's CEO pay becomes effective July 1, 2026, with a $1.3M base salary, a $2.6M EIP target, and a $15.1M annual LTI target. Most LTI value (60%) is in Strategic Performance Shares tied to absolute and relative performance over three years, which aligns pay with long-term shareholder returns. A $3.5M one-time Transitional Equity Award is also tied to his assumption of the CEO role.

  4. What board changes accompany the leadership transition?

    Effective April 1, 2026, Evanko joins the Board as a director, expanding it to twelve members. Eric J. Foss becomes Lead Independent Director, succeeding Eric C. Wiseman, who will chair the Corporate Governance Committee. Committee memberships were also reshuffled, including a new Audit & Compliance chair, Kimberly A. Ross.

  5. Is Cordani remaining involved with the company after he steps down as CEO?

    Yes. As Executive Chair, Cordani will receive a $1.0M base salary and a $2.0M EIP target. His 2026-2028 SPS award can continue to vest after retirement if he remains in service for one year from the grant date and complies with restrictive covenants. The company states he will continue to benefit the company through his insights and experience.

04—Continue

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