HUMANA INC — Director's Dealing 2011

Jan 5, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: HUMANA INC (HUM)
CIK: 0000049071
Period of Report: 2011-01-03

Reporting Person: REYNOLDS W ANN (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-01-03	Humana Common	A	2255	$55.44	Acquired	39326	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Humana Common	87	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Options	$11.55	2012-01-02	Humana Common (5000)	5000	Direct
Options	$10.19	2013-01-02	Humana Common (5000)	5000	Direct
Options	$23.05	2014-01-02	Humana Common (2500)	2500	Direct
Stock Unit	$		Humana Common (7756)	7756	Direct

Footnotes

F1: Award of stock pursuant to Humana Inc.'s 2003 Stock Incentive Plan in lieu of director fees exempt under 16(b)-3(d)(1).

F2: Shares held by reporting person's spouse.

F3: Right to buy pursuant to Humana Inc.'s 1996 Incentive Stock Option Plan.

F4: Right to buy pursuant to Humana Inc.'s 2003 Stock Incentive Plan.

F5: Annual Director's fee payable in stock units which have been deferred at the election of the reporting person until her resignation of services as a director at which time the stock units will be payable in Humana Inc. common stock on a 1-for-1 basis, exempt pursuant to Rule 16(b)-3(d)(1).