The California Public Employees' Retirement System is questioning United Health Group about $2.4 billion in stock options the company granted its top executives, according to a published report.
The pension fund, known as Calpers, sent UnitedHealth a letter requesting a meeting with its executives before the company's shareholder vote May 2, says a report by Bloomberg News. Calpers warned it may withhold its proxy votes for the company's chief executive, William W. McGuire, who will receive $1.6 billion in options, according to Bloomberg.
The challenge comes a week after Minnesota's attorney general filed a lawsuit against UnitedHealth, Minnetonka, Minn., over the same stock options.
