Summary
Centene Corporation (CNC) filed an 8-K on December 18, 2007, reporting on executive compensation arrangements effective December 12, 2007. The primary focus of this filing is the board of directors' decision to grant restricted stock unit (RSU) awards to certain executive officers, including Named Executive Officers Michael F. Neidorff, Carol E. Goldman, and William N. Scheffel. These RSU awards are structured with performance-based vesting conditions tied to specific pre-tax margin and revenue growth targets for the company in 2008, in addition to standard service vesting provisions. This aligns executive incentives with the company's anticipated financial performance and long-term growth objectives. Investors should note that the specifics of these agreements are detailed in the filed Form of Performance Based Restricted Stock Unit Agreement.
Key Highlights
- 1Centene Corporation granted restricted stock unit awards to executive officers on December 12, 2007.
- 2Named Executive Officers Michael F. Neidorff, Carol E. Goldman, and William N. Scheffel received RSU grants.
- 3Awards vest based on performance conditions related to 2008 pre-tax margin and revenue growth targets.
- 4Service vesting provisions are also included in the RSU agreements.
- 5The company filed the Form of Performance Based Restricted Stock Unit Agreement as an exhibit (Exhibit 10.1).
- 6This filing is made under Item 5.02 of Form 8-K, concerning executive departures, elections, appointments, and compensation.
- 7The report was filed with the SEC on December 18, 2007.