BUSINESS
04/18/2010 05:12 am ET Updated May 25, 2011

WellPoint Directors Cash Large Options After 39% Rate Hike Proposal

Three WellPoint board members have collected a combined $625,517 in gains from stock options in the Indianapolis-based health insurance giant as the company has faced national media scrutiny and barbs from the Obama administration over premium increases.

Sheila Burke, a WellPoint director since 2004, had the largest single gain, $360,989, by cashing in 9,920 of her WellPoint options, according to a regulatory filing. Those options allowed her to buy the stock for $25.61 a share on Feb. 5. She sold those shares the same day at the then-market price of $62 a share.

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