Former Magellan Health CEO Received $17.8 Million Last Year

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René Lerer, the former chairman and CEO of Magellan Health Services Inc. in Avon, received a $17.8 million pay package last year, more than four times his $4.27 million compensation in 2012, according to documents filed Thursday with the U.S. Securities and Exchange Commission.

Lerer received a $1.03 million salary, $5.89 million in non-equity incentive pay, $192,627 in “other compensation,” $9.49 million from exercising options and $1.2 million in stock vested.

Lerer stepped down as CEO at the end of 2012 and was replaced by Barry Smith on Jan. 1, 2013. Lerer stayed on as chairman of the company until Dec. 31, 2013.

Smith received $2.25 million last year, not including stock-and-option awards valued at $5.4 million at the time they were distributed. The take-home value when the options are exercised, and stocks vested, depends on the company’s performance in the future.

Chief Financial Officer Jonathan N. Rubin received $2.74 million, not including stock-and-option awards valued at $1.04 million when they were distributed.

General Counsel Daniel N. Gregoire received $1.15 million, not including stock-and-option awards valued at $632,215.

Tina Blasi, CEO of the NIA Magellan division, received $1.29 million, not including stock-and-option awards valued at $758,442.

About Matthew Sturdevant

Full-time staff journalist at The Hartford Courant and magazine freelancer with a master's degree in writing from Dartmouth. My work has appeared in The Los Angeles Times, The Chicago Tribune, Taiwan News, The Baltimore Sun and many other news sources. My blog has been referenced by Politico.com, the Kaiser Family Foundation, the Georgetown Law Library and a number of organizations in healthcare and business. Sturdevant’s blog is "a well-written wealth of ideas," said The Donald W. Reynolds National Center for Business Journalism, (businessjournalism.org, May 18, 2011). I have experience writing for newspapers, magazines, Web sites and blogs as well as shooting and editing video. I made regular appearances on news-talk radio and on the NBC affiliate station in Corpus Christi, Texas. I made occasional appearances on the Fox affiliate in Connecticut promoting Hartford Courant articles.

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