X0306 4 2016-03-03 0 0000019411 MAGELLAN HEALTH INC MGLN 0001244921 WEST JEFFREY N 14100 MAGELLAN PLAZA MARYLAND HEIGHTS MO 63043 0 1 0 0 SVP & Controller Stock Options (right to buy) 64.87 2016-03-03 4 A 0 4680 0.00 A 2026-03-03 Common Stock 4680 4680 D Performance-Based Restricted Stock Units 0.00 2016-03-03 4 A 0 1094 0.00 A 2019-03-03 Common Stock 1094 1094 D Restricted Stock Units - 2016 0.00 2016-03-03 4 A 0 3291 0.00 A Common Stock 3291 3291 D Stock Options vest and become exercisable in one third increments on March 3rd of each of 2017, 2018 and 2019. Not applicable. On the third anniversary of the grant date, Performance-Based Restricted Stock Units ("PSUs") vest based on achievement of total shareholder return ("TSR") performance over a three-year period beginning in 2016 and ending with 2018. Payout for vested PSUs ranges from 0% to 200% of the indicated number of shares, based on the Company's TSR percentile ranking compared to the TSR of the companies included in the selected market index. TSR is measured generally as the increase or decrease in the market value of the Company common stock with a deemed reinvestment of any dividends. If a participant terminates employment prior to the third anniversary of the grant date, the PSUs generally will be forfeited. PSUs have no voting rights and are generally non-transferable. The indicated number of PSUs assumes 100% vesting, and the actual number of shares issued in settlement of the PSUs may be greater or less than the indicated number. (Continuation of Footnote 3) - Since the payout for PSUs can range from 0% to 200%, the maximum number of shares that could vest and be issued could be double the indicated number. Restricted Stock Units vest and become exercisable in one third increments on March 3rd of each of 2016, 2017 and 2018. Jeffrey N. West 2016-03-07