UnitedHealth Investors Back CEO’s $60 Million Pay Package (1)

UnitedHealth Group Inc. shareholders approved a pay package for Chief Executive Officer Stephen Hemsley that includes a $60 million stock option award.

The advisory vote is a sign of shareholders’ confidence in Hemsley, the chairman and returning CEO who helped shape UnitedHealth for decades. He reclaimed the top job last month as the health giant faces multiple crises that cut its market value by more than half since its November peak. In addition to the $60 million award that vests in three years, Hemsley will get a $1 million annual salary.

The company’s shares were little changed at 11:49 a.m. ...