Yesterday, 04:46 AM
Thompson exercised stock options and sold shares worth $15.1 million on Feb. 16, less than two weeks before news of the federal antitrust probe went public, according to a Crain’s New York Business report from April.
The stock price dropped sharply after the revelation that the DOJ was investigating whether the company had made acquisitions that consolidated its market position in violation of antitrust laws, a source familiar with the probe told the outlet.
Thompson, 50, along with UnitedHealth Group chairman Stephen Helmsley, Chief People Officer Erin McSweeney and Chief Accounting Officer Tom Roos, sold a combined $101.5 million in shares, with Helmsley personally netting just shy of $85 million, according to the report.
The Change unit was breached by a hacking group called ALPHV, also known as "BlackCat." UnitedHealth first reported the breach on Feb. 21. The breach caused widespread disruptions in claims processing, impacting patients and providers across the country. In June, UnitedHealth issued a public notice about the ransomware hack as part of its requirements to notify the estimated one-third of the country whose private data may have been exposed in the attack.
As far as the stock is concerned, was it fear of the DOJ investigation or fear of bad news from hackers? I don't think it was pissed off investors because he would have been taken out in February
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