Kate Casso
CENTENEAbout Kate Casso
Kate N. Casso is Centene Corporation’s Senior Vice President, Finance, Corporate Controller & Chief Accounting Officer; she has served as Corporate Controller & Chief Accounting Officer since April 2021 and added Finance in September 2024 . She was previously Vice President, Assistant Controller from January 2016 to March 2021, reflecting a long internal progression through Centene’s controllership ranks . As of March 20, 2025, she is 43; she was 42 as of March 21, 2024 . Company performance context: Centene’s revenues and EBITDA have increased versus FY 2022; see the table below for multi-year trends (values from S&P Global).*
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Centene Corporation | VP, Assistant Controller | Jan 2016 – Mar 2021 | Corporate accounting support and controllership responsibilities |
| Centene Corporation | SVP, Corporate Controller & Chief Accounting Officer | Apr 2021 – Sep 2024 | Oversight of corporate accounting and external reporting |
| Centene Corporation | SVP, Finance, Corporate Controller & Chief Accounting Officer | Sep 2024 – Present | Expanded scope to Finance leadership in addition to controllership |
External Roles
No external public company directorships or committee roles are disclosed for Ms. Casso in Centene’s 2023–2025 proxy executive officer profiles .
Fixed Compensation
Not disclosed for Ms. Casso in public filings; Centene’s NEO compensation tables cover CEO, CFO, President, COO, and General Counsel, not the Corporate Controller & Chief Accounting Officer .
Performance Compensation
Centene’s long-term incentive plan (LTIP) design for senior executives emphasizes PSUs tied to multi-year earnings growth, margin, and relative TSR, and time-based RSUs; while Ms. Casso’s individual awards are not disclosed, these plan mechanics govern corporate officer incentives .
2023–2025 LTIP Design (granted March 2023; PSUs vest if earned in Feb 2026)
| Metric | Weighting | Target | Threshold | Maximum | Vesting |
|---|---|---|---|---|---|
| Adjusted pre-tax earnings growth (3-year) | 34% | 7.5% | 50% payout | 200% payout | Feb 2026 if earned |
| Adjusted net earnings margin (2025) | 33% | 3.30% | 50% payout | 200% payout | Feb 2026 if earned |
| TSR vs peer group (3-year) | 33% | 55th percentile | 25th percentile | 80th percentile | Feb 2026 if earned |
| RSUs (service-based) | 35% of shares | One-third annual vest | — | — | Annual tranches |
Historical LTIP Outcomes (Performance Period 2020–2022)
PSU Award Results:
| Metric | Weight | Metric Payout of Target | Weighted Payout |
|---|---|---|---|
| Pre-tax margin (adjusted) | 60% | 82.7% | 49.6% |
| CAGR revenue growth | 40% | 132.0% | 52.8% |
| Total | 100% | — | 102.4% |
Cash LTIP Results:
| Metric | Weight | Metric Payout of Target | Weighted Payout |
|---|---|---|---|
| Pre-tax margin (adjusted) | 30% | 82.7% | 24.8% |
| CAGR revenue growth | 20% | 132.0% | 26.4% |
| HCI peer group relative TSR percentile | 50% | — | — |
| Total | 100% | — | 51.2% |
Equity Ownership & Alignment
- Stock ownership guidelines for officers: CEO 6x salary; President & EVPs 3x; Senior Vice Presidents 2x; Business Unit Leaders & other corporate executives 1x .
- Post-vest holding requirement: executive officers must hold net shares from RSU/PSU vesting for one year .
- Hedging/pledging prohibited for all employees and directors; short sales, derivatives trading, and margin accounts are restricted under the insider trading policy .
- Officers not meeting ownership guidelines may have future awards delivered in stock and may be ineligible for stock-based awards until compliant .
Employment Terms
- Change-in-control and severance: Centene’s policy uses double-trigger equity acceleration and cash severance; cash severance is capped by policy at 2.99x salary+bonus (adopted in 2022) .
- No tax gross-ups: Centene does not provide excise tax gross-ups for perquisites or change-in-control related terminations .
- Clawback: Erroneously awarded compensation from the prior 3 fiscal years must be forfeited/returned upon an accounting restatement, regardless of misconduct .
- Non-compete and related restrictions: Senior executive agreements include non-compete and non-solicitation obligations; the CEO’s framework specifies 24 months (12 months after a change-in-control), illustrating typical durations used at the top tier .
- Note: Ms. Casso’s individual employment agreement or severance terms are not disclosed; company policies above govern executive officer practices .
Company Performance Context
| Metric | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|
| Revenues ($USD Millions) | 127,651* | 136,934* | 143,967* |
| EBITDA ($USD Millions) | 5,809* | 6,206* | 6,188* |
*Values retrieved from S&P Global.
Governance, Peer Benchmarking, and Shareholder Feedback
- Compensation targeted near the 50th percentile of peer group compensation; pay-for-performance emphasis with formula-based annual incentives and multi-metric LTIP .
- 2023 say-on-pay approval was 84%, reflecting shareholder support for compensation changes and discipline .
- The Compensation & Talent Committee is independent, oversees incentives, stock ownership guidelines, clawbacks, and retains an independent consultant .
Investment Implications
- Alignment: Prohibitions on hedging/pledging and one-year post-vest holding requirements materially reduce misaligned risk-taking and forced selling; SVP ownership requirement (2x base salary) promotes skin-in-the-game for Ms. Casso’s role .
- Retention: A long internal progression and expanded scope in 2024 point to institutional knowledge and continuity; absence of disclosed individual agreements suggests reliance on standard executive policies (double-trigger, capped severance), typically lowering one-off severance risk .
- Performance sensitivity: LTIP metrics include multi-year earnings growth, margin, and TSR; while Casso-specific grants aren’t disclosed, plan design ties senior officer payouts to durable value creation and relative performance. Monitor the February 2026 PSU vesting timeframe and annual RSU tranches for potential executive activity windows under pre-clearance rules .
- Shareholder signals: Strong say-on-pay support and elimination of performance stock options/cash LTIP in 2023 improve program clarity and reduce perceived risk; pay mix remains performance-weighted, consistent with broader managed care expectations .