...getting filthy, rotten, stinking rich off our as--s. Since 2020 he has cashed out over $216 MILLION in stock options. That doesn't include his salary and other compensation.
It's listed here: https://corestreet.com/insiders/traders/david-cordani/
You can read about his most recent annual compensation here:
https://s202.q4cdn.com/757723766/files/doc_financials/2023/ar/2024-Proxy-Statement.pdf. Just search for 'cordani' to see the exorbitant pay package he receives, and perk after perk. Like be reimbursed for estate planning costs!
This is the man who in a town hall refused to increase our pay to be in line with inflation. He stopped sharing equity in the company with band 4 ESI after the merger in 2018. He authorized $5 BILLION in stock buybacks (which is taking place now). He is laying off thousands of employees in small increments. He has forced us back to work under penalty of losing severance. This is one greedy pig. Look past the smiling face and well-rehearsed speeches. He is an oligarch for a company that is supposed to lower the cost of care for members. He is supposed to lower costs for clients. He is supposed to be a steward of hard-working employees. Instead, he is siphoning off millions for his own pockets.
12 replies (most recent on top)
Yup, this is all true. Welcome to unrestricted greed!
Wow. I knew he got a lot but just wow while we’re all struggling.
ELT will have to cash in stock options likely every year at least once. Cashing them in generally has nothing to do with the health of the company or any indication someone is leaving or retiring, it is instead based on a bunch of regulatory and time based factors such as the times of year they are permitted to cash them in, their yearly plan for cashing in options per their accountants advice, the amounts they are required to hold in stock and what they are permitted to sell, and the fact that stock options expire and they will lose them if they don't convert to stock or cash in. Of course if the stock has a big run up, don't be surprised to see many will exercise some options, not just ELT, when they are in the green zone to do so. This is not a commentary on whether I agree with how much they get, just that there rarely any clues to be found in exercising stock options or selling stock at the ELT level.
David isn't the only one cashing out their stock. If you check the SEC filings you'll see that all of the ELT has been cashing out to the tune of millions.
They can pay what they want for buy back and time it when it favors them. Don’t be fooled. Yes, DC is in it to fill his pockets. You guys are not chained to that place, but you have to know what makes you happy and what your needs are. If it makes sense to tough it out for another year, then you know what you have to do—set your eye on the future.
I used to love listening to the town halls and I know many that felt cared about and honored to work at Cigna. That has all changed significantly over the last 3 years. It’s sad
$216Million and yet he can’t afford a suit jacket for townhall that doesn’t make him look like a child borrowing their Dad’s jacket for First Holy Communion?
The stock buybacks don’t seem to be helping the stock price. The share price is down $10 over the last month.
I can’t believe I bought into his fake “I care about people and am a normal guy” persona in the past. Ultimately he is just a cold, calculating, self-aggrandizing, greedy corporate shill. There is no true leadership in the company anymore. It is all about maximizing short term earnings to drive the stock price- which is how he makes the vast majority of his millions.
The stock buybacks are such a pathetic and self-servicing tactic. It is just a temporary way to artificially push the stock price up. Cordani and the rest of the ELT only care about that. They have zero concern for any rank and file employees and would readily throw them overboard if it meant an extra penny on the stock price.
Am I the only one that has always gotten skuzzy, sleezy, crime lord vibes off of him for years? I mean, look at his eyes. They're the eyes of a guy that would ki-l his own mother for a nickel. He just looks evil.
But he played basketball with some black people once!
Amen to all of this.