HUMANA INC — Director's Dealing 2007

Mar 28, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: HUMANA INC (HUM)
CIK: 0000049071
Period of Report: 2007-03-26

Reporting Person: LORD JONATHAN T MD (Sr VP & Chief Innovation Off.)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-03-26	Humana Common	M	14610	$12.995	Acquired	90880	Direct
2007-03-26	Humana Common	M	53600	$21.275	Acquired	147180	Direct
2007-03-26	Humana Common	M	4700	$21.275	Acquired	151880	Direct
2007-03-26	Humana Common	F	1644	$60.79	Disposed	150236	Direct
2007-03-26	Humana Common	S	70910	—	Disposed	79326	Direct
2007-03-26	Humana Common	I	1168	—	Disposed	0	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-03-26	Options	$12.995	M	14610	Disposed	2012-03-13	Humana Common (14610)	Direct
2007-03-26	Options	$21.275	M	61000	Disposed	2014-02-24	Humana Common (61000)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Options	$32.70	2012-02-24	Humana Common (75000)	75000	Direct
Options	$53.96	2013-02-23	Humana Common (47655)	47655	Direct
Options	$62.10	2014-02-22	Humana Common (38062)	38062	Direct

Footnotes

F1: Discretionary transaction in accordance with Rule 16b-3(f) resulting in the disposition of issuer securities held for the benefit of reporting person under the Humana Retirement & Savings Plan.

F2: Reporting person sold shares at prices between $60.75 and $61.25.

F3: Right to buy pursuant to the Company's 1996 Stock Incentive Plan for Employees.

F4: Incentive and Non-Qualified stock options granted to reporting person on 3/13/02, NQ options vesting in three increments from 3/13/03 to 3/13/05, and ISO's vesting in two increments on 3/13/04 and 3/13/05.

F5: Right to buy pursuant to the Company's 2003 Stock Incentive Plan.

F6: Incentive and Non-Qualified stock options granted to reporting person on 2/24/04, NQ options vesting in three increments from 2/24/05 to 2/24/07, and ISO's vesting on 2/24/07.

F7: Incentive and Non-Qualified stock options granted to reporting person on 2/24/05, NQ options vesting in three increments from 2/24/06 to 2/24/08, and ISO's vesting on 2/24/08.

F8: Incentive and Non-Qualified stock options granted to reporting person on 2/23/06, NQ options vesting in three increments from 2/23/07 to 2/23/09, and ISO's vesting on 2/23/09.

F9: Incentive and Non-Qualified stock options granted to reporting person on 2/22/07, NQ options vesting in three increments from 2/22/08 to 2/22/10, and ISO's vesting on 2/22/10.