On Wednesday, Brian Thompson, the CEO of UnitedHealthcare, was reportedly fatally shot outside a Manhattan hotel.
He was one of several senior executives at the company who were under investigation by the Department of Justice.
Thompson, who was fatally shot in a targeted shooting outside the Hilton hotel in Midtown, exercised stock options and sold shares worth $15.1 million on February 16, less than two weeks prior to the public disclosure of the federal antitrust investigation, according to a Crain’s New York Business report from April.
A source familiar with the investigation informed the outlet that the stock price experienced a significant decline following the disclosure that the Department of Justice was investigating whether the company had made acquisitions that consolidated its market position in violation of antitrust laws.
Thompson’s stock options were reportedly set to expire in several years, and this was his initial transfer of shares since he assumed responsibility for the insurance division of parent company UnitedHealth in 2021.
Thompson, 50, UnitedHealth Group chairman Stephen Helmsley, chief people officer Erin McSweeney, and chief accounting officer Tom Roos collectively sold $101.5 million in shares.
Helmsley personally earned just under $85 million.
UnitedHealth was the victim of one of the largest health care data compromises in the history of the United States earlier this year.
The company estimates that the ransomware attack compromised as many as one-third of Americans’ private data, which could have included their Social Security numbers.
In May, CEO Andrew Witty disclosed to a congressional subcommittee that the organization ultimately paid the hackers a $22 million ransom.
The substantial organization, which generates approximately $372 billion in annual revenue, subsequently disclosed that it anticipated a financial loss of approximately $705 million as a consequence of the breach.
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