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Cigna Group·4

May 14, 4:47 PM ET

Cordani David 4

4 · Cigna Group · Filed May 14, 2026

Research Summary

AI-generated summary of this filing

Updated

Cigna CEO David Cordani Exercises Options, Sells Shares

What Happened
David Cordani, Cigna Group's Chairman & CEO, exercised stock option awards and sold the resulting shares in open-market transactions on May 12–13, 2026. He exercised a total of 212,543 shares (103,595 and 85,519 exercised on 5/12; 15,458 and 7,971 on 5/13) by paying aggregate exercise costs of about $36.21M. He sold 201,878 shares across multiple trades on 5/12 for total proceeds of about $59.11M. The Form 4 shows corresponding derivative dispositions at $0, reflecting conversion of options into shares upon exercise.

Key Details

  • Transaction dates: May 12–13, 2026; Form 4 filed May 14, 2026 (appears timely).
  • Options exercised (code M): 103,595 @ $149.13 ($15,449,640); 85,519 @ $197.35 ($16,877,175); 15,458 @ $149.13 ($2,305,329); 7,971 @ $197.35 ($1,573,077). Total exercise cost ≈ $36.21M.
  • Open-market sales (code S): 201,878 shares sold in multiple blocks for aggregate proceeds ≈ $59.11M; sale prices per footnotes ranged roughly from $286.43 to $298.675 per share (weighted averages reported by block).
  • Net change: +10,665 shares (acquired 212,543 via exercise; sold 201,878) — the filing does not state total shares owned after these transactions.
  • Notable footnotes: Transactions were made under a Rule 10b5-1 trading plan adopted Feb 6, 2026 (F1). Multiple footnotes (F2–F15) provide the price ranges for sold blocks and offer to supply per-price breakdowns on request. Derivative disposals at $0 reflect conversion of options into common shares.
  • Exhibit noted: Power of Attorney (Exhibit 24).

Context
Code M denotes option exercise; the filing shows exercised options followed by prompt open-market sales of many of the resulting shares — a common post-exercise liquidity step. The presence of a pre-established 10b5-1 plan indicates the sales were executed under a prearranged plan rather than ad hoc market timing. The transactions are factual disclosures and do not by themselves indicate the insider’s market view.

Insider Transaction Report

Form 4
Period: 2026-05-12
Cigna GroupCI
Cordani David
DirectorChairman & CEO
Transactions
  • Exercise/Conversion

    Common Stock, $.01 Par Value

    [F1]
    2026-05-12$149.13/sh+103,595$15,449,640→ 150,696 total
  • Exercise/Conversion

    Common Stock, $.01 Par Value

    [F1]
    2026-05-12$197.35/sh+85,519$16,877,175→ 236,215 total
  • Sale

    Common Stock, $.01 Par Value

    [F1][F2]
    2026-05-12$286.83/sh−3,903$1,119,505→ 232,312 total
  • Sale

    Common Stock, $.01 Par Value

    [F1][F3]
    2026-05-12$287.96/sh−14,292$4,115,590→ 218,020 total
  • Sale

    Common Stock, $.01 Par Value

    [F1][F4]
    2026-05-12$288.85/sh−13,839$3,997,456→ 204,181 total
  • Sale

    Common Stock, $.01 Par Value

    [F1][F5]
    2026-05-12$290.00/sh−41,099$11,918,784→ 163,082 total
  • Sale

    Common Stock, $.01 Par Value

    [F1][F6]
    2026-05-12$291.01/sh−13,732$3,996,089→ 149,350 total
  • Sale

    Common Stock, $.01 Par Value

    [F1][F7]
    2026-05-12$291.95/sh−12,315$3,595,314→ 137,035 total
  • Sale

    Common Stock, $.01 Par Value

    [F1][F8]
    2026-05-12$292.88/sh−7,861$2,302,311→ 129,174 total
  • Sale

    Common Stock, $.01 Par Value

    [F1][F9]
    2026-05-12$293.92/sh−2,142$629,574→ 127,032 total
  • Sale

    Common Stock, $.01 Par Value

    [F1][F10]
    2026-05-12$294.98/sh−38,487$11,352,888→ 88,545 total
  • Sale

    Common Stock, $.01 Par Value

    [F1][F11]
    2026-05-12$295.98/sh−34,641$10,253,196→ 53,904 total
  • Sale

    Common Stock, $.01 Par Value

    [F1][F12]
    2026-05-12$296.84/sh−2,017$598,718→ 51,887 total
  • Sale

    Common Stock, $.01 Par Value

    [F1][F13]
    2026-05-12$298.24/sh−15,319$4,568,735→ 36,568 total
  • Sale

    Common Stock, $.01 Par Value

    [F1][F14]
    2026-05-12$298.53/sh−2,231$666,027→ 34,337 total
  • Exercise/Conversion

    Common Stock, $.01 Par Value

    [F1]
    2026-05-13$149.13/sh+15,458$2,305,329→ 49,795 total
  • Exercise/Conversion

    Common Stock, $.01 Par Value

    [F1]
    2026-05-13$197.35/sh+7,971$1,573,077→ 57,766 total
  • Exercise/Conversion

    Employee Stock Option (Right to Buy)

    [F1][F16]
    2026-05-12−103,595→ 15,458 total
    Exercise: $149.13From: 2018-03-01Exp: 2027-02-28→ Common Stock, $.01 Par Value (103,595 underlying)
  • Exercise/Conversion

    Employee Stock Option (Right to Buy)

    [F1][F16]
    2026-05-13−15,458→ 0 total
    Exercise: $149.13From: 2018-03-01Exp: 2027-02-28→ Common Stock, $.01 Par Value (15,458 underlying)
  • Exercise/Conversion

    Employee Stock Option (Right to Buy)

    [F1][F17]
    2026-05-12−85,519→ 7,971 total
    Exercise: $197.35From: 2019-03-01Exp: 2028-02-28→ Common Stock, $.01 Par Value (85,519 underlying)
  • Exercise/Conversion

    Employee Stock Option (Right to Buy)

    [F1][F17]
    2026-05-13−7,971→ 0 total
    Exercise: $197.35From: 2019-03-01Exp: 2028-02-28→ Common Stock, $.01 Par Value (7,971 underlying)
Holdings

  • Common Stock, $.01 Par Value

    (indirect: By GRAT)
    440,798

  • Common Stock, $.01 Par Value

    (indirect: By Trust)
    157,935

  • Common Stock, $.01 Par Value

    [F15]
    (indirect: By 401(k))
    1,803.142
Footnotes (17)
  • [F1]These transactions were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on February 6, 2026.
  • [F10]Represents the weighted average price of the shares sold. The prices actually received ranged from $294.46 to $295.453 per share. The reporting person will provide to the issuer, any security holder of the issuer, or the Securities and Exchange Commission, upon request, information regarding the number of shares sold at each price within the range.
  • [F11]Represents the weighted average price of the shares sold. The prices actually received ranged from $295.46 to $296.45 per share. The reporting person will provide to the issuer, any security holder of the issuer, or the Securities and Exchange Commission, upon request, information regarding the number of shares sold at each price within the range.
  • [F12]Represents the weighted average price of the shares sold. The prices actually received ranged from $296.46 to $297.45 per share. The reporting person will provide to the issuer, any security holder of the issuer, or the Securities and Exchange Commission, upon request, information regarding the number of shares sold at each price within the range.
  • [F13]Represents the weighted average price of the shares sold. The prices actually received ranged from $297.492 to $298.49 per share. The reporting person will provide to the issuer, any security holder of the issuer, or the Securities and Exchange Commission, upon request, information regarding the number of shares sold at each price within the range.
  • [F14]Represents the weighted average price of the shares sold. The prices actually received ranged from $298.495 to $298.675 per share. The reporting person will provide to the issuer, any security holder of the issuer, or the Securities and Exchange Commission, upon request, information regarding the number of shares sold at each price within the range.
  • [F15]Represents shares acquired through ongoing participation in The Cigna Group's 401(k) Plan.
  • [F16]This option was granted on February 28, 2017. The option vested in three equal annual installments starting on March 1, 2018.
  • [F17]This option was granted on February 28, 2018. The option vested in three equal annual installments starting on March 1, 2019.
  • [F2]Represents the weighted average price of the shares sold. The prices actually received ranged from $286.43 to $287.425 per share. The reporting person will provide to the issuer, any security holder of the issuer, or the Securities and Exchange Commission, upon request, information regarding the number of shares sold at each price within the range.
  • [F3]Represents the weighted average price of the shares sold. The prices actually received ranged from $287.43 to $288.42 per share. The reporting person will provide to the issuer, any security holder of the issuer, or the Securities and Exchange Commission, upon request, information regarding the number of shares sold at each price within the range.
  • [F4]Represents the weighted average price of the shares sold. The prices actually received ranged from $288.435 to $289.41 per share. The reporting person will provide to the issuer, any security holder of the issuer, or the Securities and Exchange Commission, upon request, information regarding the number of shares sold at each price within the range.
  • [F5]Represents the weighted average price of the shares sold. The prices actually received ranged from $289.435 to $290.43 per share. The reporting person will provide to the issuer, any security holder of the issuer, or the Securities and Exchange Commission, upon request, information regarding the number of shares sold at each price within the range.
  • [F6]Represents the weighted average price of the shares sold. The prices actually received ranged from $290.44 to $291.438 per share. The reporting person will provide to the issuer, any security holder of the issuer, or the Securities and Exchange Commission, upon request, information regarding the number of shares sold at each price within the range.
  • [F7]Represents the weighted average price of the shares sold. The prices actually received ranged from $291.44 to $292.435 per share. The reporting person will provide to the issuer, any security holder of the issuer, or the Securities and Exchange Commission, upon request, information regarding the number of shares sold at each price within the range.
  • [F8]Represents the weighted average price of the shares sold. The prices actually received ranged from $292.44 to $293.435 per share. The reporting person will provide to the issuer, any security holder of the issuer, or the Securities and Exchange Commission, upon request, information regarding the number of shares sold at each price within the range.
  • [F9]Represents the weighted average price of the shares sold. The prices actually received ranged from $293.46 to $294.45 per share. The reporting person will provide to the issuer, any security holder of the issuer, or the Securities and Exchange Commission, upon request, information regarding the number of shares sold at each price within the range.
Signature
Tyler Gratton, attorney-in-fact|2026-05-14

Documents

3 files