Talk for Story "Fact check: Bernie Sanders’ claims about insurance company CEOs’ income"

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  1. Rewrite

    For claim #1 and claim #3 this report from the New York Times might be of help. It reports the earnings of both Leonard Schleifer and Mark Bertolini.
    https://www.nytimes.com/interactive/2018/05/25/business/ceo-pay-2017.html

    Claim #1, #2 and #3 can be found in the full overview on:
    https://www.nytimes.com/interactive/2018/05/25/business/ceo-pay-2017.html

    This article is based on a report done by Equilar, an executive compensation data firm. Information about how this list was compiled can be found here:
    https://www.nytimes.com/2017/05/26/business/how-the-ceo-rankings-were-done.html

    The full list is also available on the Equilars website:
    https://www.equilar.com/reports/table-equilar-new-york-times-highest-paid-ceos-2018.html

    I hope this helps!

    1. Rewrite

      Thanks Daniel. CEOs receive most of their pay from stocks. I’m asking a few folks how they came to these numbers.

  2. Other

    Sanders claims that Leonard Schleifer (Regeneron) made $95.3 million in 2017.

    This may well be correct, and seems plausible.

    Note that the word used is “made” which could include his entire income for the year, not just his salary or compensation.

    The Wikipedia article says that Schleifer owns something like $1.3 billion in shares in Regeneron. Given how profitable the company is, it is possible he made a stack of money in dividends, share options, or whatever, on top of his compensation.

    I can’t find anything to suggest that he is a CEO of an insurance company, but Regeneron does work with health insurance companies, and suffice to say that much of any American pharmaceutical firm’s revenues will come from health insurance companies which pick-up the bill for their clients’ health care.

    1. Rewrite

      I do agree with you that the word ” made” could be interpreted in many ways, all the data we have now pertain to salary and compensation, but would be great if we look again the the proxy report and see if it mentions the revenue in shares.

      1. Rewrite

        Hi Daniel : Yes this analysis does support your claim, but to lacks the details as to how the actual realized gains of CEO is calculated
        https://www.axios.com/health-care-ceo-pay-sec-filings-analysis-62afaf7e-e6a5-40e0-bb6e-a2b87fa2af4a.html

        1. Rewrite

          And it seems this is the case for all the CEOs Snaders mentioned, the great amount of compensation comes from options awards and shares. see this report as an example:

          https://www.latimes.com/hc-biz-bertolini-2017-compensation-20180406-story.html

    2. Rewrite

      You’re right Daniel. I changed the rating to Needs more data for now. Axios reported the $95 million number.

  3. Rewrite

    For Claim #3 about

    pages 23 and 24 of the proxy statement report show details about the compensation

    http://investor.aetna.com/phoenix.zhtml?c=110617&p=irol-proxystatements

  4. Rewrite

    For claim #2 about Dave Wichmann , we can rely on this official report by unitedhealthgroup, check page 4 :

    https://www.unitedhealthgroup.com/content/dam/UHG/PDF/investors/2017/UNH-2018-Proxy.pdf

    1. Rewrite

      This is a summary of what has been paid to David Wichmann in 2017 as mentioned by the official report:

      • Base salary — $1.16 million.
      • Cash incentive awards — Annual cash incentive award of $4.25 million and long-term cash incentive award of $649,800, which reflect the Company’s performance against pre-set goals and continued strong leadership by Mr. Wichmann.
      • Equity awards — Performance shares with a target grant date fair value of $5.55 million, restricted stock units with a grant date fair value of $2.775 million and stock options with a grant date fair value of $2.775 million.
      • Company matching contributions — $159,519 under our 401(k) and executive savings plan.

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