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Dr. William McGuire Settles with the SEC and the UnitedHealth Group Special Litigation Committee on Stock Options Matter
Date:12/6/2007

>In his settlement with the SLC, McGuire agreed to return over $320 million in options. He also volunteered to forego the full value of his fully-vested Supplemental Executive Retirement Plan (SERP) worth nearly $92 million and approximately $8.1 million of incentive compensation benefits in a deferred compensation plan. Along with the $198 million of repriced vested and unvested options last November, Dr. McGuire's actions remove any possible benefit he may have received as a result of the issues arising from the options program of the Company.

"Dr. McGuire deserves great credit for taking full responsibility to resolve the options dating issues at UnitedHealth Group," said David M. Brodsky, Dr. McGuire's attorney. "He called for the company investigation that helped identify the problems, proposed remedial actions to the Board to address them, resigned from the company to enable it to move forward, and more than paid back every penny at issue."

During his 17 year tenure, McGuire oversaw the transformation of UnitedHealth Group from a $600 million regional insurance company to a $70 billion global health services company. When McGuire took the helm in 1991, UnitedHealth Group served just over 1 million people. By 2006, that number had reached 50 million. UnitedHealth Group's performance during his tenure was spectacular, growing at a cumulative rate 30 times greater than the S&P average. Shareholders of UnitedHealth Group saw an 8,453 percent return on their investment under McGuire's leadership.

While CEO of the Company, UnitedHealth Group was recognized for its continuing innovation in the delivery of health care. These included expanded uses of data in decision-making, technology applications to improve efficiency and advance quality, the elimination of "gatekeeper" systems in favor of open access to doctors and nurses and new approaches to meeting the unique health care needs of older people and disadvantaged populations. Dr. McGuire
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SOURCE Latham and Watkins, LLP
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