Strange Tony,
Humana CFO Brian Kane announced he would step down in March 2021. CFO Dive said:
As part of the transition period, Kane will continue to receive his salary, annual incentive plan opportunity and benefits through the end of the year, Humana said in a filing with the Securities and Exchange Commission and reported by Fierce Healthcare.
When he does leave the role, he will earn severance pay and stock incentives he would otherwise secure in a "position elimination," Fierce reported.
As a publicly traded company Humana is required to make certain disclosures.
His separation agreement had his base pay of $765,000 continue until 12-31-21. Any work performed after that date will be paid at a $367.79 an hour. Kane will receive his Annual Incentive Compensation for 2021 and continue to receive company contributions to his retirement. His Humana benefits continued and so did executive perks for physicals and charitable donations matched up to $60,000.
Kane's separation compensation was reported in a March 2021 SEC filing to be $3.3 million for "involuntary termination without cause." His big haul will come from vested stock options and other stock compensation. As he is no longer CFO the public will likely not know how many tens of millions more Brian Kane received. The SEC filing indicated Kane had $17.2 million in options and stock awards but he has had another year for them to vest.
Humana chose not to disclose information on Kindred at Home's financial performance since it acquired the rest of the company in August. It has been silent on Humana executive participation in Kentucky Homecare equity. Kane was one of three Humana representatives on Kentucky Homecare's board. Did Brian Kane, Bruce Broussard or Susan Diamond make profits from flipping any KH equity stake to Humana? If so add that to Brian Kane's giant separation payday.
It's galling that Kane's charitable contribution match is more than the annual pay of many of my hospice co-workers. However, he cannot take his unjust riches with him when he leaves this earth.
Anonymous
Humana executives drop $2.4 million worth of stock.
ReplyDeletehttps://www.bizjournals.com/louisville/news/2021/12/20/humana-execs-drop-2-4-million-worth-of-stock.html
Financial rapscallions desire for hospice assets remains strong for 2022:
ReplyDeletehttps://hospicenews.com/2021/12/14/trends-that-will-shape-hospice-in-2022/
Kindred at Home Occupational Therapist from Seattle said
ReplyDelete"We use to have some gatherings but they were all stopped in 2020. Morale has fallen and there is no feeling of a team."
Many, many, many Vice Presidents and very top heavy company. While they send us corporate emails we have no time to read them. At least 60% of the work is unpaid for workers in the field. I have had two performance reviews in six years. It is all done now electronically.
Pros
They pay on time. With six years with the company I now receive a month of leave time.
Cons
Underpaid for visits only, No advancement for an OT, They removed our salaries but we are dependent upon how many referrals our account executives obtain, 60% of work is unpaid
Wow, Former CFO Brian Kane gets big bucks for not working and this OT has 60% of the work they do for company be unpaid, free, gratis. Actually, it is blatant wage theft.
DeleteFor not working the last six months Brian Kane earned nearly $5.6 million in 2021.
ReplyDeletehttps://www.sec.gov/Archives/edgar/data/49071/000119312522069894/d209426ddef14a.htm#toc209426_18