8-KLeadership ChangesRegulation FDExhibits & Filings

CENTENE CORP 8-K Report, Executive Changes (Nov 15, 2023)

Filed November 15, 2023For Securities:CNC

Summary

Centene Corporation (CNC) has announced a significant leadership change, appointing Susan Smith as its new Chief Operating Officer, effective January 1, 2024. Ms. Smith brings extensive experience from her 19-year tenure at Humana Inc., where she held senior leadership roles with broad oversight of clinical strategy, operations, quality, and Medicare solutions. This appointment signals a strategic move to bolster operational leadership with a seasoned executive from within the managed care industry. Investors should note Ms. Smith's compensation package, which includes a base salary of $700,000, an annual short-term incentive target of $700,000, and a substantial annual long-term equity incentive target of $1,600,000. This compensation structure aligns with typical arrangements for senior executives and underscores the company's investment in key leadership. The filing also confirms no unusual arrangements or conflicts of interest related to Ms. Smith's appointment.

Key Highlights

  • 1Susan Smith appointed Chief Operating Officer (COO) effective January 1, 2024.
  • 2Ms. Smith possesses extensive experience from a 19-year career at Humana Inc. in senior operational and clinical roles.
  • 3Her prior roles at Humana included SVP of Clinical, Quality and Enterprise Solutions, and SVP of Medicare.
  • 4Ms. Smith's compensation package includes a $700,000 base salary.
  • 5Annual short-term incentive target set at $700,000.
  • 6Annual long-term equity incentive target is $1,600,000.
  • 7No disclosed arrangements or conflicts of interest regarding the appointment.

Frequently Asked Questions

Susan Smith has been appointed as the new Chief Operating Officer of Centene Corporation, effective January 1, 2024. She has a strong background in the managed care industry, having spent 19 years at Humana Inc. in various senior leadership positions, including SVP of Clinical, Quality and Enterprise Solutions, and SVP of Medicare. She joined Centene Corporation in June 2023.

Ms. Smith's compensation includes a base salary of $700,000, an annual short-term incentive target of $700,000, and an annual long-term equity incentive target of $1,600,000. She will also receive other benefits generally applicable to senior executives.

The filing explicitly states that there are no arrangements or understandings between Ms. Smith and any other persons for her election as an executive officer, no family relationships with current directors or officers, and she does not have any material indirect or direct interest in any transaction requiring disclosure.

Ms. Smith's appointment as Chief Operating Officer is effective January 1, 2024.