Cigna finalizes severance agreement with departing EVP Eric Palmer; $10M total value

Cigna Group

Eric Palmer's employment ends April 26, 2025; severance includes $5.2M cash and ~$4.8M in equity value.
Cash comprises 78 weeks base pay, 150% of 2025 EIP target, prorated EIP, and 18-month COBRA subsidy.
Equity: options/RSUs/SPSs vesting within 12 months continue; SPS paid on actual performance at $328.63/share.
Agreement includes customary confidentiality, non-solicitation, non-competition, and non-disparagement clauses.

item 5.02

Executive movements

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Departed

Eric P. Palmer

Executive Vice President for Enterprise Strategy, The Cigna Group and President and Chief Executive Officer, Evernorth Health Services

CI · Cigna Group

Effective: 2025-04-26
Filed: April 18, 2025, 7:59 PM ET

On March 13, 2025, The Cigna Group (the “Company”) filed a Form 8-K disclosing that the employment of Eric P. Palmer, Executive Vice President for Enterprise Strategy, The Cigna Group and President and Chief Executive Officer, Evernorth Health Services, will end April 26, 2025.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Eric P. Palmer resigned as Executive Vice President for Enterprise Strategy, The Cigna Group and President and Chief Executive Officer, Evernorth Health Services at Cigna Group.

Action: resigned
Role: Executive Vice President for Enterprise Strategy, The Cigna Group and President and Chief Executive Officer, Evernorth Health Services

Exact text from the filing

On March 13, 2025, The Cigna Group (the “Company”) filed a Form 8-K disclosing that the employment of Eric P. Palmer, Executive Vice President for Enterprise Strategy, The Cigna Group and President and Chief Executive Officer, Evernorth Health Services, will end April 26, 2025.

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Cigna Group filing history →

Source: SEC EDGAR

accession 0001140361-25-014574

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