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UNH » Topics » Controls Over Stock Options and Other Equity Awards

This excerpt taken from the UNH 8-K filed Oct 16, 2006.

Controls Over Stock Options and Other Equity Awards

 

  •   Eliminating all delegated authority to management to make equity awards

 

  •   Requiring that broad based equity awards to the Company’s executives and employees occur annually and be approved at the Board meeting that generally coincides with the Company’s Annual Meeting

 

  •   Requiring that awards made to new hires, or for promotions or other important and valid business purposes, only be made and approved at a subsequent regularly scheduled quarterly meeting

 

  •   Significantly enhancing the Company’s approval processes and internal controls related to stock option granting and administration.

The WilmerHale team was led by William R. McLucas, former Director of Enforcement of the Securities and Exchange Commission. During the inquiry, WilmerHale reviewed more than 26 million pages of materials and conducted more than 80 interviews of UnitedHealth employees, present and former directors and former auditors.

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