Humana management check
HUM · Health Care · Managed Health Care · CEO James A. Rechtin
Filings as of
3 good · 2 to watch · 1 flagged, across the seven questions below.
- Flag
Have owners done well?
Trailed its chosen peers$100 invested at the start of fiscal 2021 grew to $65, against $108 for the peer group the company picked itself.
- Watch
Does pay follow performance?
Pay only loosely tracked returnsOver 5 years, the CEO's pay actually paid (equity valued at the share price) had a correlation of -0.06 with shareholder return. 1 means pay moved in step; below 0, the opposite way.
- Watch
What does the CEO cost owners?
1.6% of net income$18.8m of reported pay in fiscal 2025, against $1.2bn of net income.
- n/a
Do they own the stock?
No recent CEO filingNo open-market insider buying or selling in the last six months.
- Good
Are owners being diluted?
Share count shrinkingDiluted shares changed -1.5% a year over the last three fiscal years. Stock-based pay was 0.2% of revenue in the latest year.
- Good
Is leadership stable?
6 leadership filings in 3 yearsCEO in the pay table: Mr. Rechtin. 6 filings under 8-K item 5.02 (officers or directors leaving or joining, or new pay arrangements) in the last 3 years.
- Good
Are the books clean?
No red flags on fileNo restatements, auditor changes or late filings since 2021.
Against the S&P 500
Each check's score (0–100) and how it compares: the share of ranked S&P 500 companies it matches or beats, and the median in Health Care.
| Check | Score | At or above | Sector median |
|---|---|---|---|
| Owner returns | 0 | 26 | |
| Pay for performance | 47 | 85 | |
| CEO cost | 34 | 44 | |
| Skin in the game | — | — | 46 |
| Dilution | 68 | 68 | |
| Stable leadership | 95 | 70 | |
| Clean books | 100 | 100 |
Closest peers
Others in Managed Health Care, by management score. Humana is 43rd of 60 in its sector.
- 76ELVElevance Health78
- 353BDXBecton Dickinson58
- 357HUMHumana57
- 362CVSCVS Health57
- 446CNCCentene Corporation47
- 460UNHUnitedHealth Group42
Pay versus performance
From the proxy statement filed March 6, 2026. "Actually paid" values stock awards at the share price, so it rises and falls with the stock.
| Fiscal year | CEO | CEO pay | Actually paid | Other executives (avg) | $100 became | Peers | Net income |
|---|---|---|---|---|---|---|---|
| 2025 | Mr. Rechtin | $18.8m | $18.8m | $9.4m | $65 | $108 | $1.2bn |
| 2024 | — | $15.6m | $9.2m | $10.1m | $64 | $107 | $1.2bn |
| 2023 | — | $16.3m | −$37.7m | $3.9m | $114 | $115 | $2.5bn |
| 2022 | — | $17.2m | $30.4m | $4.2m | $126 | $116 | $2.8bn |
| 2021 | — | $16.5m | $25.8m | $4.1m | $114 | $125 | $2.9bn |
The board says pay is tied most to Adjusted EPS. Its other key measures: Pre-Tax Earnings, Relative Total Shareholder Return.
Insiders and the CEO's stake
James A. Rechtin (President & CEO) held 63,938 shares directly after their latest Form 4 on May 1, 2026.
No open-market insider buying or selling in the last six months.
Leadership and governance on file
- Jul 29, 2026Leadership change8-K 5.02
- Apr 10, 2026Leadership change8-K 5.02
- Dec 16, 2025Leadership change8-K 5.02
- Dec 3, 2024Leadership change8-K 5.02
- Oct 23, 2024Leadership change8-K 5.02
- May 13, 2024Leadership change8-K 5.02
- Oct 11, 2023Leadership change8-K 5.02
- Aug 21, 2023Leadership change8-K 5.02
- Sep 15, 2022Leadership change8-K 5.02
- Jul 27, 2022Leadership change8-K 5.02
- Jun 21, 2022Leadership change8-K 5.02
- Mar 1, 2022Leadership change8-K 5.02
Latest shareholder vote results: Apr 20, 2026, including the say-on-pay vote.
Where the money went
Over 2021–2025: $6.8bn returned to owners in buybacks and dividends, 64% of net income, and $1.0bn of pay in stock.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $83.1bn | $92.9bn | $106.4bn | $117.8bn | $129.7bn |
| Net income | $2.9bn | $2.8bn | $2.5bn | $1.2bn | $1.2bn |
| Stock-based pay | $180.0m | $216.0m | $175.0m | $207.0m | $241.0m |
| Buybacks | $79.0m | $2.1bn | $1.6bn | $817.0m | $151.0m |
| Dividends | $354.0m | $392.0m | $431.0m | $431.0m | $430.0m |
| Diluted shares | 129m | 127m | 124m | 121m | 121m |
Educational only, not investment advice. Figures are as filed with the SEC: pay from the proxy's pay-versus-performance table, capital allocation from 10-K XBRL data, insider trades from Form 4s over the last six months, events from the last 5 years of filings. The peer group is the one the company chose. See the method.