Robert Sheehy
About Robert J. Sheehy
Robert J. Sheehy is Chairman of the Board at NeueHealth, Inc. and a co‑founder of the company; he previously served as CEO (September 2015–April 2020) and Executive Chairman (April 2020–May 2021) . He is 67 and has served on the board since 2015, bringing leadership and extensive healthcare experience, including prior service as CEO of UnitedHealthcare, Inc. at UnitedHealth Group (1986–2008) . The board has determined he is not independent under NYSE rules .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| NeueHealth, Inc. | Chief Executive Officer | Sep 2015 – Apr 2020 | Co‑founder; led early company development |
| NeueHealth, Inc. | Executive Chairman | Apr 2020 – May 2021 | Board leadership during transition |
| UnitedHealth Group, Inc. | Various executive roles incl. CEO, UnitedHealthcare, Inc. | 1986 – 2008 | Large‑scale managed care leadership |
| Genstar Capital LLC | Operating Partner | Not disclosed (post‑UHG) | Private equity operating role |
| Flare Capital Partners | Executive Partner | Ongoing | Healthcare VC executive partner |
| Cimarron Healthcare Capital | Strategic Advisor | Not disclosed | Healthcare investing advisor |
External Roles
| Organization | Role | Tenure |
|---|---|---|
| Connections Health Solutions | Director | Current |
| University of Michigan Health System | Director | Current |
Board Governance
- Role: Chairman of the Board; Lead Director: Manuel Kadre (provides independent oversight) .
- Independence: Not independent under NYSE rules; only CEO (G. Mike Mikan) and Mr. Sheehy are classified as non‑independent .
- Committee assignments: Not listed as a member of the Audit (Adkins Chair), Compensation & Human Capital (Immelt Chair), or Nominating & Corporate Governance (Kadre Chair) Committees; those committees are composed of independent directors .
- Attendance: In 2024 the Board met 8 times; committees met 4 (Audit), 3 (Compensation), and 0 (Nominating) times; each director attended at least 75% of Board and applicable committee meetings .
- Executive sessions: Not disclosed.
Fixed Compensation (Director)
| Component | 2024 Amount | Notes |
|---|---|---|
| Fees Earned or Paid in Cash | $226,000 | Mr. Sheehy’s 2024 cash fees per Director Compensation Table |
| RSU Awards (Grant‑Date Fair Value) | $63,735 | 10,500 RSUs granted May 13, 2024; 100% vest on 1st anniversary |
| Total | $289,735 | Sum of cash and RSUs |
- Standard director policy: annual cash retainer $80,000; non‑employee Chairman receives an additional $100,000; Audit Chair +$25,000; Compensation Chair +$20,000; Nominating Chair +$15,000; other committee members +$10,000; plus annual RSUs targeted at $175,000 (policy level) .
- 2024 adjustment: due to limited shares under the plan, non‑employee directors received 10,500 RSUs and a supplemental retainer fee of $91,000 (payable on the first anniversary of the RSU grant); in April 2025 the Committee approved payment of these fees in cash .
Performance Compensation (Director)
| Element | Structure | Performance Metrics |
|---|---|---|
| RSUs | Time‑based; May 13, 2024 grant of 10,500 RSUs vests 100% after 1 year | No performance conditions disclosed for director RSUs |
Other Directorships & Interlocks
| Company | Public/Private | Role | Notes |
|---|---|---|---|
| Connections Health Solutions | Private (not specified as public) | Director | Current |
| University of Michigan Health System | Non‑profit/Academic | Director | Current |
- No other current public company directorships for Mr. Sheehy are disclosed in the proxy .
Expertise & Qualifications
- Brings leadership and a wealth of healthcare experience, including knowledge of regulations and issues facing healthcare providers and medical companies .
- Prior CEO of UnitedHealthcare, Inc. and long tenure at UnitedHealth Group underpin payer and provider system expertise .
Equity Ownership
| Holder | Security | Amount | Notes |
|---|---|---|---|
| Robert J. Sheehy (direct) | Common stock | 4,755 shares | Directly held |
| Robert J. Sheehy Revocable Trust | Common stock | 250,690 shares | Mr. Sheehy is sole trustee with voting/investment power |
| Robert J. Sheehy | RSUs | 10,500 units | Vest within 60 days of April 8, 2025 |
| Total Beneficial Ownership | All | 265,945 shares | 3.0% of outstanding |
| Shares Outstanding (reference) | Common stock | 8,927,758 | As of April 28, 2025 |
| Pledging/Hedging | Policy | Prohibited without pre‑clearance; none pledged by directors in 2024 | Insider Trading Policy; 2024 pledge disclosure |
- Director stock ownership policy: non‑employee directors must hold at least 3x annual cash retainer; retention requirements may apply if not in compliance (policy level; individual compliance not disclosed) .
Governance Assessment
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Board leadership/independence: Mr. Sheehy serves as a non‑independent Chair; the board employs a Lead Director structure (Kadre) to provide independent oversight, with key committees fully independent (Audit, Compensation, Nominating) .
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Engagement/attendance: Board met 8 times in 2024; all directors attended at least 75% of Board and applicable committee meetings, indicating base‑level engagement .
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Alignment and pay structure: Director policy targets a mix of cash and equity; however, 2024 adjustments added a $91,000 supplemental cash retainer (paid in cash in April 2025) alongside 10,500 time‑based RSUs due to share constraints, modestly tilting mix toward cash for that year .
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Ownership/skin‑in‑the‑game: Mr. Sheehy beneficially owns 265,945 shares (3.0%); policy restricts hedging and pledging (none pledged in 2024), and directors are subject to 3x retainer ownership guidelines (individual compliance not disclosed) .
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Related‑party/control considerations (context for conflicts): NEA beneficially owns 56.8% of common stock; the company entered a 2023 credit agreement with NEA‑affiliated lenders and, on Dec. 23, 2024, agreed to a merger under which NEA‑affiliated entities will take the company private; certain directors have relationships with NEA, elevating related‑party oversight sensitivity .
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RED FLAGS:
- Non‑independent Chair during a period involving NEA‑related financing and a pending NEA‑affiliate merger; robust independent committee oversight and Lead Director role are important mitigants .
- 2024 director compensation included a supplemental cash retainer due to share constraints, reducing equity’s share in pay mix for the year relative to policy targets .