Health Net 2014 Annual Report Download - page 63

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61
(c) Includes shares withheld by the Company to satisfy tax withholding and/or exercise price obligations arising from
the vesting and/or exercise of restricted stock units, stock options and other equity awards.
Performance Graph
The following graph compares the performance of the Company's Common Stock with the performance of the
Standard & Poor's 500 Composite Stock Price Index (the "S&P 500 Index") and both the current and prior year Industry
Peer Group Index. We calculate year-end values based on the closing prices from the final trading days in December
2009, 2010, 2011, 2012, 2013, and 2014. The graph assumes that $100 was invested on December 31, 2009 in each of
the Common Stock, the S&P 500 Index, and the current year Industry Peer Group Index and the prior year Industry
Peer Group Index, and that all dividends were reinvested for both the current and prior year. The Industry Peer Group
Index weights the constituent companies' stock performance on the basis of market capitalization at the beginning of
each annual period.
The Company's current Industry Peer Group Index includes the following companies: Aetna, Inc., Cigna
Corporation, Humana, Inc., UnitedHealth Group, Inc., Anthem, Inc. (formerly WellPoint, Inc.), Molina Healthcare, Inc.,
Centene Corporation, and WellCare Health Plans, Inc.. In our previous annual report on Form 10-K for the year ended
December 31, 2013, the Company used an Industry Peer Group Index comprised of Aetna, Inc., Cigna Corporation,
Humana, Inc., UnitedHealth Group, Inc., and WellPoint, Inc. This year, the Company elected to add the following three
new companies to the peer group based on their strong presence in the Medicaid market: Molina Healthcare, Inc.,
Centene Corporation and WellCare Health Plans, Inc. The Company believes those additions will help the peer group
more appropriately reflect the Company's current mix of business, which has experienced rapid growth in its Medicaid
segment.