New Cerner CEO will get nearly $35M in first 15 months on the job: 6 details 

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Cerner outlined the compensation package its board is giving to incoming President and CEO David Feinberg, MD, which adds up to $34.5 million during his first 15 months in the role, according to an Aug. 19 SEC filing. 

Six details: 

1. Cerner recently announced Dr. Feinberg will become its president and CEO, effective Oct. 1. He joins the Kansas City, Mo.-based EHR company from Google Health, where he has led the division since 2019. 

2. Dr. Feinberg will receive a $900,000 base salary and a target cash bonus of $1.35 million, according to the filing. He will also get a one-time cash bonus of $375,000 stock. 

3. He will be awarded $13.5 million in Cerner's restricted shares for 2022 and $3.375 million in stock shares for the fourth quarter of 2021. 

4. Dr. Feinberg will also receive a new hire award of $15 million in restricted stock shares to offset his equity loss with Google. 

5. His severance terms also include two years' salary, a bonus, health insurance and equity vesting. 

6. Outgoing Cerner CEO Brent Shafer will also get his existing salary, bonus and $2.5 million restricted shares for helping out during the one-year transition period. 

Click here to view the full SEC filing. 

 

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