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Roman';font-size:18pt;line-height:1.19;text-align:center;margin:0pt 0pt 6pt 0pt;"><b style="font-weight:bold;">FORM&#160;</b><ix:nonNumeric contextRef="Duration_3_4_2020_To_3_4_2020_xC8jIUv7tEeQGGunCW_Dfg" name="dei:DocumentType" id="Narr_xGsHQsq9oEiC2u2__4yAPQ"><b style="font-weight:bold;">8-K</b></ix:nonNumeric></p><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.19;text-align:center;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">CURRENT REPORT</b></p><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.19;text-align:center;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">PURSUANT TO SECTION&#160;13 OR 15 (D)&#160;OF THE</b></p><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.19;text-align:center;margin:0pt 0pt 6pt 0pt;"><b style="font-size:12pt;font-weight:bold;">SECURITIES EXCHANGE ACT OF 1934</b></p><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.19;text-align:center;margin:0pt;">Date of 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<div style="background-color:#000000;clear:both;height:2pt;page-break-after:always;width:79.41%;border:0;margin:30pt 10.29% 30pt 10.29%;"></div><div style="max-width:100%;padding-left:10.29%;padding-right:10.29%;position:relative;"><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.19;padding-left:54pt;text-indent:-54pt;margin:0pt;"><b style="font-weight:bold;">Item 5.02. &#160;&#160;&#160; DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENT OF CERTAIN OFFICERS. </b></p><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.19;margin:0pt;">&#160; </p><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.19;margin:0pt;"><b style="font-weight:bold;">(e) </b></p><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.19;margin:0pt;">&#160; </p><a id="_Hlk34305734"></a><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.19;margin:0pt;">The Compensation Committee of the Board of Directors of Magellan Health,&#160;Inc. (the &#8220;Company&#8221;) authorized the grant of restricted stock units (&#8220;RSUs&#8221;) and performance-based restricted stock units (&#8220;PSUs&#8221;) to members of management pursuant to the Company&#8217;s 2016 Management Incentive Plan (the &#8220;2016 MIP&#8221;) on February&#160;24, 2020, with such RSUs and PSUs valued and granted at the close of business on March&#160;4, 2020, in accordance with the Company&#8217;s equity award policy.&#160; On March&#160;4, 2020, the Company issued RSUs to Kenneth J. Fasola, Chief Executive Officer; James E. Murray, President and Chief Operating Officer; Jonathan N. Rubin, Chief Financial Officer; Mostafa M. Kamal, Chief Executive Officer, Magellan Rx Management; and Caskie Lewis-Clapper, Chief Human Resources Officer, for 33,295, 21,850, 15,763, 18,724 and 7,303 shares of the Company&#8217;s common stock, par value $0.01 (the &#8220;Common Stock&#8221;), respectively, vesting in three equal annual installments on March&#160;4, 2021, March&#160;4, 2022 and March&#160;4, 2023.&#160; Vesting is conditional on the grantee&#8217;s continued service with the Company on those vesting dates.&#160; The vesting of the RSUs may accelerate upon a termination by reason of retirement as determined pursuant to the Company&#8217;s Retirement Policy Applicable to Employee Long-Term Incentive Awards or a termination of employment following a change in control of the Company, as provided in the pertinent award notice.&#160; Such RSU awards are otherwise on terms and conditions included in the form of Restricted Stock Unit Agreement and Notice of Restricted Stock Unit Award filed as Exhibits 10.1 and 10.2, respectively, to this Form&#160;8-K. </p><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.19;margin:0pt;">&#160; </p><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.19;margin:0pt;">Messrs.&#160;Fasola, Murray, Rubin and Kamal and Ms. Lewis-Clapper also received grants of PSUs for 27,743, 18,206, 13,134, 15,602 and 6,085 shares of Common Stock on March&#160;4, 2020.&#160; The PSUs will entitle the grantee to receive a number of shares of the Company&#8217;s Common Stock determined over a three-year performance period ending on December&#160;31, 2022 and vesting on March&#160;4, 2023, the settlement date, provided that the grantee remains in the service of the Company on that settlement date.&#160; The number of shares for which the PSUs will be settled will be a percentage of the shares for which the award is targeted and will depend on the Company&#8217;s &#8220;Relative Total Shareholder Return,&#8221; expressed as a percentile ranking of the 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style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:20.48%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:1.99%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:74.91%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:8pt;line-height:1.37;margin:0pt;"><b style="font-weight:bold;">Relative&#160;Total&#160;Shareholder&#160;Return&#160;Ranking&#160;over&#160;Measurement&#160;Period </b></p></td><td style="vertical-align:bottom;width:2.6%;border-bottom:1.0pt solid transparent;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:20.48%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:8pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-weight:bold;">Payout&#160;Percentage&#160;Level </b></p></td><td style="vertical-align:bottom;width:1.99%;border-bottom:1.0pt solid transparent;margin:0pt;padding:0pt;"></td></tr><tr><td style="background-color:#cceeff;vertical-align:bottom;width:74.91%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:6pt;line-height:1.37;padding-left:10.1pt;text-align:center;text-indent:-10.1pt;margin:0pt;"><span style="font-size:10pt;">75 </span><span style="font-size:6.5pt;">th </span><span style="font-size:10pt;">&#160;Percentile or Higher </span></p></td><td style="background-color:#cceeff;vertical-align:bottom;width:2.6%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;width:20.48%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.37;text-align:right;margin:0pt;">200 </p></td><td style="background-color:#cceeff;vertical-align:bottom;width:1.99%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.37;margin:0pt;">%</p></td></tr><tr><td style="vertical-align:bottom;width:74.91%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:6pt;line-height:1.37;padding-left:10.1pt;text-align:center;text-indent:-10.1pt;margin:0pt;"><span style="font-size:10pt;">50 </span><span style="font-size:6.5pt;">th </span><span style="font-size:10pt;">&#160;Percentile </span></p></td><td style="vertical-align:bottom;width:2.6%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:20.48%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.37;text-align:right;margin:0pt;">100 </p></td><td style="vertical-align:bottom;width:1.99%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.37;margin:0pt;">%</p></td></tr><tr><td style="background-color:#cceeff;vertical-align:bottom;width:74.91%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:6pt;line-height:1.37;padding-left:10.1pt;text-align:center;text-indent:-10.1pt;margin:0pt;"><span style="font-size:10pt;">25 </span><span style="font-size:6.5pt;">th </span><span style="font-size:10pt;">&#160;Percentile </span></p></td><td style="background-color:#cceeff;vertical-align:bottom;width:2.6%;margin:0pt;padding:0pt;"></td><td style="background-color:#cceeff;vertical-align:bottom;width:20.48%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.37;text-align:right;margin:0pt;">50 </p></td><td style="background-color:#cceeff;vertical-align:bottom;width:1.99%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.37;margin:0pt;">%</p></td></tr><tr><td style="vertical-align:bottom;width:74.91%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:6pt;line-height:1.37;padding-left:10.1pt;text-align:center;text-indent:-10.1pt;margin:0pt;"><span style="font-size:10pt;">&lt;25 </span><span style="font-size:6.5pt;">th </span><span style="font-size:10pt;">&#160;Percentile </span></p></td><td style="vertical-align:bottom;width:2.6%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:1pt;line-height:1.37;margin:0pt;">&#160; </p></td><td style="vertical-align:bottom;width:20.48%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.37;text-align:right;margin:0pt;">0 </p></td><td style="vertical-align:bottom;width:1.99%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.37;margin:0pt;">%</p></td></tr></table></div><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.19;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.19;margin:0pt;">&#160; </p><p style="font-family:'Times New Roman';font-size:6pt;line-height:1.19;margin:0pt;"><span style="font-size:10pt;">Under this formula, for every 1% of percentile ranking of Total Shareholder Return that the Company achieves above the median of the Peer Group, the grant recipient will receive an additional 4% of target payout, and for every 1% of percentile ranking of Total Shareholder Return by which the Company is below the median of the Peer Group, the grant recipient will receive a reduced 2% of target payout. 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<div style="background-color:#000000;clear:both;height:2pt;page-break-after:always;width:79.41%;border:0;margin:30pt 10.29% 30pt 10.29%;"></div><div style="max-width:100%;padding-left:10.29%;padding-right:10.29%;position:relative;"><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.19;margin:0pt;">Exhibits 10.3 and 10.4, respectively, to this Form&#160;8-K.&#160; The vesting of the PSUs may: (i) continue following retirement pursuant to the Company&#8217;s Retirement Policy Applicable to Employee Long-Term Incentive Awards or (ii) accelerate upon a termination of employment following a change in control of the Company as provided in the pertinent&#160;award notice.</p><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.19;text-align:justify;margin:0pt;"><span style="font-weight:bold;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.19;text-align:justify;margin:0pt;"> <span style="visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.19;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.19;margin:0pt;"><b style="font-weight:bold;">Item 9.01. Financial Statements, Pro Forma Financial Information and Exhibits</b></p><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.19;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.19;margin:0pt;">(a) Financial Statements of business acquired: Not applicable.</p><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.19;margin:0pt;">(b) Pro forma financial information: Not applicable.</p><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.19;margin:0pt;">(d) Exhibits: See Exhibit Index.</p><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.28;margin:0pt 0pt 8pt 0pt;"><span style="line-height:1.19;margin-bottom:0pt;visibility:hidden;">&#8203;</span></p></div><div style="clear:both;margin-bottom:30pt;width:100%;"><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.19;text-align:center;margin:24pt 0pt 0pt 0pt;">3</p></div></div>
<div style="background-color:#000000;clear:both;height:2pt;page-break-after:always;width:79.41%;border:0;margin:30pt 10.29% 30pt 10.29%;"></div><div style="max-width:100%;padding-left:10.29%;padding-right:10.29%;position:relative;"><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.19;margin:0pt;"><span style="text-decoration:underline;text-decoration-color:#000000;">Exhibit Index</span></p><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.19;text-indent:24pt;margin:4.5pt 0pt 0pt 0pt;"><span style="visibility:hidden;">&#8203;</span></p><table style="border-collapse:collapse;font-size:16pt;padding-left:0.7pt;padding-right:0.7pt;width:100.01%;"><tr style="height:1pt;"><td style="vertical-align:top;width:12.96%;margin:0pt;padding:0pt 0.69pt 0pt 0.69pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;width:1.86%;margin:0pt;padding:0pt 0.69pt 0pt 0.69pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:top;width:85.17%;margin:0pt;padding:0pt 0.69pt 0pt 0.69pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td></tr><tr><td style="vertical-align:top;width:12.96%;border-bottom:1px solid #000000;margin:0pt;padding:0pt 0.69pt 0pt 0.69pt;"><p style="font-family:'Times New Roman';font-size:8pt;line-height:1.37;margin:0pt;"><b style="font-weight:bold;">Exhibit Number</b></p></td><td style="vertical-align:bottom;width:1.86%;border-bottom:1px solid transparent;margin:0pt;padding:0pt 0.69pt 0pt 0.69pt;"><p style="font-family:'Times New Roman';font-size:8pt;line-height:1.37;margin:0pt;"><b style="font-weight:bold;">&#160;&#160;&#160;</b></p></td><td style="vertical-align:top;width:85.17%;border-bottom:1px solid #000000;margin:0pt;padding:0pt 0.69pt 0pt 0.69pt;"><p style="font-family:'Times New Roman';font-size:8pt;line-height:1.37;margin:0pt;"><b style="font-weight:bold;">Description of Exhibit</b></p></td></tr><tr style="height:12.4pt;"><td style="vertical-align:top;width:12.96%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.26;margin:0pt;">10.1</p></td><td style="vertical-align:top;width:1.86%;margin:0pt;padding:0pt 0.69pt 0pt 0.69pt;"><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.26;margin:0pt;"><span style="line-height:1.19;visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:top;width:85.17%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.37;margin:0pt;"><a href="ex-10d1.htm"><span style="font-family:'Times New Roman';font-size:10pt;font-style:normal;font-weight:normal;line-height:1.37;text-align:left;">Form&#160;of R</span><span style="font-family:'Times New Roman';font-size:10pt;font-style:normal;font-weight:normal;line-height:1.37;text-align:left;">estricted Stock Unit</span><span style="font-family:'Times New Roman';font-size:10pt;font-style:normal;font-weight:normal;line-height:1.37;text-align:left;"> Agreement pursuant to the 2016 MIP.</span></a></p></td></tr><tr style="height:12.4pt;"><td style="vertical-align:top;width:12.96%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.26;margin:0pt;">10.2</p></td><td style="vertical-align:top;width:1.86%;margin:0pt;padding:0pt 0.69pt 0pt 0.69pt;"><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.26;margin:0pt;"><span style="line-height:1.19;visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:top;width:85.17%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.37;margin:0pt;"><a href="ex-10d2.htm"><span style="font-family:'Times New Roman';font-size:10pt;font-style:normal;font-weight:normal;line-height:1.37;text-align:left;">Form&#160;of Notice of Restricted Stock Unit Award pursuant to the 2016 MIP.</span></a></p></td></tr><tr style="height:12.4pt;"><td style="vertical-align:top;width:12.96%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.26;margin:0pt;">10.3</p></td><td style="vertical-align:top;width:1.86%;margin:0pt;padding:0pt 0.69pt 0pt 0.69pt;"><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.26;margin:0pt;"><span style="line-height:1.19;visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:top;width:85.17%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.37;margin:0pt;"><a href="ex-10d3.htm"><span style="font-family:'Times New Roman';font-size:10pt;font-style:normal;font-weight:normal;line-height:1.37;text-align:left;">Form&#160;of Performance-Based Restricted Stock Unit Agreement pursuant to the 2016 MIP.</span></a></p></td></tr><tr style="height:12.4pt;"><td style="vertical-align:top;width:12.96%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.26;margin:0pt;">10.4</p></td><td style="vertical-align:top;width:1.86%;margin:0pt;padding:0pt 0.69pt 0pt 0.69pt;"><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.26;margin:0pt;"><span style="line-height:1.19;visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:top;width:85.17%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.37;margin:0pt;"><a href="ex-10d4.htm"><span style="font-family:'Times New Roman';font-size:10pt;font-style:normal;font-weight:normal;line-height:1.37;text-align:left;">Form&#160;of Notice of Terms of Performance-Based Restricted Stock Units pursuant to the 2016 MIP.</span></a></p></td></tr><tr style="height:12.4pt;"><td style="vertical-align:top;width:12.96%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.26;margin:0pt;">104</p></td><td style="vertical-align:top;width:1.86%;margin:0pt;padding:0pt 0.69pt 0pt 0.69pt;"><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.26;margin:0pt;"><span style="line-height:1.19;visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:top;width:85.17%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.19;margin:0pt 0pt 6pt 0pt;">Cover Page Interactive Data File &#8211; The cover page interactive data file does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document.</p></td></tr><tr style="height:12.4pt;"><td style="vertical-align:top;width:12.96%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.26;margin:0pt;"><span style="line-height:1.19;visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:top;width:1.86%;margin:0pt;padding:0pt 0.69pt 0pt 0.69pt;"><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.26;margin:0pt 0pt 0pt 35.35pt;"><span style="line-height:1.19;margin-left:0pt;visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:top;width:85.17%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.26;margin:0pt 0pt 0pt 35.35pt;"><span style="line-height:1.19;margin-left:0pt;visibility:hidden;">&#8203;</span></p></td></tr><tr style="height:12.4pt;"><td style="vertical-align:top;width:12.96%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.26;margin:0pt;"><span style="line-height:1.19;visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:top;width:1.86%;margin:0pt;padding:0pt 0.69pt 0pt 0.69pt;"><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.26;margin:0pt 0pt 0pt 35.35pt;"><span style="line-height:1.19;margin-left:0pt;visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:top;width:85.17%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.26;margin:0pt 0pt 0pt 35.35pt;"><span style="line-height:1.19;margin-left:0pt;visibility:hidden;">&#8203;</span></p></td></tr><tr style="height:12.4pt;"><td style="vertical-align:top;width:12.96%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.26;margin:0pt;"><span style="line-height:1.19;visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:top;width:1.86%;margin:0pt;padding:0pt 0.69pt 0pt 0.69pt;"><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.26;margin:0pt 0pt 0pt 35.35pt;"><span style="line-height:1.19;margin-left:0pt;visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:top;width:85.17%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.26;margin:0pt 0pt 0pt 35.35pt;"><span style="line-height:1.19;margin-left:0pt;visibility:hidden;">&#8203;</span></p></td></tr><tr style="height:12.4pt;"><td style="vertical-align:top;width:12.96%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.26;margin:0pt;"><span style="line-height:1.19;visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:top;width:1.86%;margin:0pt;padding:0pt 0.69pt 0pt 0.69pt;"><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.26;margin:0pt 0pt 0pt 35.35pt;"><span style="line-height:1.19;margin-left:0pt;visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:top;width:85.17%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.26;margin:0pt 0pt 0pt 35.35pt;"><span style="line-height:1.19;margin-left:0pt;visibility:hidden;">&#8203;</span></p></td></tr><tr style="height:12.4pt;"><td style="vertical-align:top;width:12.96%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.26;margin:0pt;"><span style="line-height:1.19;visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:top;width:1.86%;margin:0pt;padding:0pt 0.69pt 0pt 0.69pt;"><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.26;margin:0pt 0pt 0pt 35.35pt;"><span style="line-height:1.19;margin-left:0pt;visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:top;width:85.17%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.26;margin:0pt 0pt 0pt 35.35pt;"><span style="line-height:1.19;margin-left:0pt;visibility:hidden;">&#8203;</span></p></td></tr><tr style="height:12.4pt;"><td style="vertical-align:top;width:12.96%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.26;margin:0pt;"><span style="line-height:1.19;visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:top;width:1.86%;margin:0pt;padding:0pt 0.69pt 0pt 0.69pt;"><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.26;margin:0pt 0pt 0pt 35.35pt;"><span style="line-height:1.19;margin-left:0pt;visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:top;width:85.17%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.26;margin:0pt 0pt 0pt 35.35pt;"><span style="line-height:1.19;margin-left:0pt;visibility:hidden;">&#8203;</span></p></td></tr><tr style="height:12.4pt;"><td style="vertical-align:top;width:12.96%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.26;margin:0pt;"><span style="line-height:1.19;visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:top;width:1.86%;margin:0pt;padding:0pt 0.69pt 0pt 0.69pt;"><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.26;margin:0pt 0pt 0pt 35.35pt;"><span style="line-height:1.19;margin-left:0pt;visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:top;width:85.17%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.26;margin:0pt 0pt 0pt 35.35pt;"><span style="line-height:1.19;margin-left:0pt;visibility:hidden;">&#8203;</span></p></td></tr></table><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.19;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.28;margin:0pt 0pt 8pt 0pt;"><span style="line-height:1.19;margin-bottom:0pt;visibility:hidden;">&#8203;</span></p></div><div style="clear:both;margin-bottom:30pt;width:100%;"><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.19;text-align:center;margin:24pt 0pt 0pt 0pt;">4</p></div></div>
<div style="background-color:#000000;clear:both;height:2pt;page-break-after:always;width:79.41%;border:0;margin:30pt 10.29% 30pt 10.29%;"></div><div style="max-width:100%;padding-left:10.29%;padding-right:10.29%;position:relative;"><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.19;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.19;text-align:center;text-indent:24pt;margin:4.5pt 0pt 0pt 0pt;"><span style="visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.19;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.27;margin:0pt 0pt 8pt 0pt;"><span style="font-weight:bold;line-height:1.19;margin-bottom:0pt;visibility:hidden;">&#8203;</span></p><a id="_9060e7c2_8892_48b9_bf98_a5a602b3e6c3"></a><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.19;text-align:center;margin:0pt;"><b style="font-weight:bold;">SIGNATURES</b></p><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.19;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.19;margin:0pt;">Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</p><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.19;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.19;text-align:center;margin:0pt;"><b style="font-weight:bold;">MAGELLAN HEALTH,&#160;INC.</b></p><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.19;text-align:center;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p><table style="border-collapse:collapse;font-size:16pt;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:50.29%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.19;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">&#8203;</span></p></div></div></td><td style="vertical-align:top;width:3%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.19;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">&#8203;</span></p></div></div></td><td style="vertical-align:top;width:6.1%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.19;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">&#8203;</span></p></div></div></td><td style="vertical-align:top;width:40.59%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.19;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">&#8203;</span></p></div></div></td></tr><tr><td style="vertical-align:top;width:50.29%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.27;margin:0pt;">Date: March 10, 2020</p></td><td style="vertical-align:top;width:3%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.27;margin:0pt;">By:</p></td><td colspan="2" style="vertical-align:top;width:46.69%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.27;margin:0pt;">/s/ Jonathan N. Rubin</p></td></tr><tr><td style="vertical-align:top;width:50.29%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.27;margin:0pt;"><span style="line-height:1.19;visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:top;width:3%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.27;margin:0pt;"><span style="line-height:1.19;visibility:hidden;">&#8203;</span></p></td><td colspan="2" style="vertical-align:top;width:46.69%;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.27;margin:0pt;">Name:&#160;&#160;&#160;Jonathan N. Rubin</p></td></tr><tr><td style="vertical-align:top;width:50.29%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.27;margin:0pt;"><span style="line-height:1.19;visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:top;width:3%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.27;margin:0pt;"><span style="line-height:1.19;visibility:hidden;">&#8203;</span></p></td><td colspan="2" style="vertical-align:top;width:46.69%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.27;margin:0pt;">Title:&#160;&#160;&#160;&#160;&#160;Chief Financial Officer</p></td></tr></table><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.19;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.19;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.19;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.19;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">&#8203;</span></p></div><div style="clear:both;margin-bottom:30pt;width:100%;"><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.19;text-align:center;margin:24pt 0pt 0pt 0pt;">5</p></div></div>
<div style="background-color:#000000;clear:both;height:2pt;margin-left:10.29%;margin-right:10.29%;margin-top:30pt;page-break-after:avoid;width:79.41%;border:0;"></div></body></html>
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​
​
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15 (D) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported):
March 4, 2020
MAGELLAN HEALTH, INC.
(Exact Name of Registrant as Specified in Charter)
​
​
​
Delaware
1-6639
58-1076937
(State or Other Jurisdiction
(Commission File
(IRS Employer
of Incorporation)
Number)
Identification No.)
​
​
​
4801 E. Washington Street
​
Phoenix
,
Arizona
85034
(Address of Principal Executive Offices)
(Zip Code)
​
Registrant's telephone number, including area code:
(
800
)
642-1716
​
(Former Name or Former Address, if Changed Since Last Report)
​
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
​
Title of each class
Trading Symbol(s)
Name of each exchange on which registered
Common Stock, par value $0.01 per share
MGLN
The NASDAQ Global Market
​
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
☐
​
​
​
​
Item 5.02.     DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENT OF CERTAIN OFFICERS.
(e)
The Compensation Committee of the Board of Directors of Magellan Health, Inc. (the "Company") authorized the grant of restricted stock units ("RSUs") and performance-based restricted stock units ("PSUs") to members of management pursuant to the Company's 2016 Management Incentive Plan (the "2016 MIP") on February 24, 2020, with such RSUs and PSUs valued and granted at the close of business on March 4, 2020, in accordance with the Company's equity award policy.  On March 4, 2020, the Company issued RSUs to Kenneth J. Fasola, Chief Executive Officer; James E. Murray, President and Chief Operating Officer; Jonathan N. Rubin, Chief Financial Officer; Mostafa M. Kamal, Chief Executive Officer, Magellan Rx Management; and Caskie Lewis-Clapper, Chief Human Resources Officer, for 33,295, 21,850, 15,763, 18,724 and 7,303 shares of the Company's common stock, par value $0.01 (the "Common Stock"), respectively, vesting in three equal annual installments on March 4, 2021, March 4, 2022 and March 4, 2023.  Vesting is conditional on the grantee's continued service with the Company on those vesting dates.  The vesting of the RSUs may accelerate upon a termination by reason of retirement as determined pursuant to the Company's Retirement Policy Applicable to Employee Long-Term Incentive Awards or a termination of employment following a change in control of the Company, as provided in the pertinent award notice.  Such RSU awards are otherwise on terms and conditions included in the form of Restricted Stock Unit Agreement and Notice of Restricted Stock Unit Award filed as Exhibits 10.1 and 10.2, respectively, to this Form 8-K.
Messrs. Fasola, Murray, Rubin and Kamal and Ms. Lewis-Clapper also received grants of PSUs for 27,743, 18,206, 13,134, 15,602 and 6,085 shares of Common Stock on March 4, 2020.  The PSUs will entitle the grantee to receive a number of shares of the Company's Common Stock determined over a three-year performance period ending on December 31, 2022 and vesting on March 4, 2023, the settlement date, provided that the grantee remains in the service of the Company on that settlement date.  The number of shares for which the PSUs will be settled will be a percentage of the shares for which the award is targeted and will depend on the Company's "Relative Total Shareholder Return," expressed as a percentile ranking of the Company's "Total Shareholder Return" as compared to the Company's "Peer Group" set forth in the grant notice.  The number of shares for which the PSUs will be settled will vary from 0% to 200% of the shares specified in the grant, as follows:
Relative Total Shareholder Return Ranking over Measurement Period
Payout Percentage Level
75
th
Percentile or Higher
200
%
50
th
Percentile
100
%
25
th
Percentile
50
%
<25
th
Percentile
0
%
​
Under this formula, for every 1% of percentile ranking of Total Shareholder Return that the Company achieves above the median of the Peer Group, the grant recipient will receive an additional 4% of target payout, and for every 1% of percentile ranking of Total Shareholder Return by which the Company is below the median of the Peer Group, the grant recipient will receive a reduced 2% of target payout. For example, if the Company achieves a Total Shareholder Return for the measuring period which ranks 21
st
among 48 Peer Group companies (and thus is at the 57th percentile), the grant recipient will receive 128% of the shares for which the grant is targeted on the settlement date.
For purposes of the awards, "Total Shareholder Return" is determined by dividing the average share value of the Company's Common Stock over the 30 trading days preceding January 1, 2023 by the average share value of the Company's Common Stock over the 30 trading days beginning on January 1, 2020, with a deemed reinvestment of any dividends declared during the performance period.  The Company's "Peer Group" includes 48 companies which comprise the S&P Health Care Services Industry Index as of March 1, 2020, which was selected by the Compensation Committee of the Company's Board of Directors and includes a range of healthcare companies operating in several business segments.  Such PSU awards are otherwise on the terms and conditions included in the form of Performance-Based Restricted Stock Unit Agreement and Notice of Terms of Performance-Based Restricted Stock Units filed as
2
Exhibits 10.3 and 10.4, respectively, to this Form 8-K.  The vesting of the PSUs may: (i) continue following retirement pursuant to the Company's Retirement Policy Applicable to Employee Long-Term Incentive Awards or (ii) accelerate upon a termination of employment following a change in control of the Company as provided in the pertinent award notice.
​
​
​
Item 9.01. Financial Statements, Pro Forma Financial Information and Exhibits
​
(a) Financial Statements of business acquired: Not applicable.
(b) Pro forma financial information: Not applicable.
(d) Exhibits: See Exhibit Index.
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3
Exhibit Index
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Exhibit Number
Description of Exhibit
10.1
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Form of R
estricted Stock Unit
Agreement pursuant to the 2016 MIP.
10.2
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Form of Notice of Restricted Stock Unit Award pursuant to the 2016 MIP.
10.3
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Form of Performance-Based Restricted Stock Unit Agreement pursuant to the 2016 MIP.
10.4
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Form of Notice of Terms of Performance-Based Restricted Stock Units pursuant to the 2016 MIP.
104
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Cover Page Interactive Data File – The cover page interactive data file does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document.
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SIGNATURES
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Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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MAGELLAN HEALTH, INC.
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Date: March 10, 2020
By:
/s/ Jonathan N. Rubin
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Name:   Jonathan N. Rubin
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Title:     Chief Financial Officer
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