Indianapolis-based Anthem raised CEO Joseph Swedish's salary by 21 percent from $13.6 million to $16.5 million, despite Anthem underperforming its rivals, The New York Post reports.
Here's what you should know.
1. Anthem closed at $168.27 March 17, 2017, and opened at $167.21 March 20, 2017. As of 10:30 a.m. EST March 21, 2017, it was trading at $167.19.
2. Financial analysts told The Post the raise paired with Anthem's subpar recent performance was "rich." The anonymous analysts said to The Post, "As far as stock performance, in 2016, Anthem was up 11 percent while the average Big 5 HMO was up 20 percent. Anthem was not the best performer."
3. Anthem said it raised Mr. Swedish's compensation to recognize his work, and pay him at a level closer to his peers.
4. The Post reports Anthem's shares have only increased 6 percent over the last two years. Hopkins, Minn.-based UnitedHealthcare shares increased 41 percent, Hartford, Conn.-based Aetna shares raised 19 percent, Bloomfield, Conn.-based Cigna and Nashville, Tenn.-based Humana each saw increases of 18 percent over the two year period.
5. An Anthem spokesperson said to The Post, that Mr. Swedish's total compensation is 90 percent incentive-based.