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 MINNETONKA, Minn. (AP) - UnitedHealth Group Inc.'s recent moves to calm the investor storm over lavish pay for Chairman and Chief Executive William McGuire paid off on Tuesday, as shareholders voted to keep all four of the company's directors who were up for re-election.
The size and timing of McGuire's stock option grants have come under intense scrutiny. Some of his late-1990s options were dated on dips in the company's share price, raising the question of whether they were backdated. And UnitedHealth's share price growth has driven his cache of unexercised stock options to more than $1.6 billion. The Securities and Exchange Commission is investigating how some of the options were granted.
McGuire apologized at the company's annual meeting on Tuesday for the negative attention the stock option issue had brought to the company.
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