UNITED STATES
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FORM
CURRENT REPORT
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
As previously disclosed, on December 21, 2023, AdaptHealth Corp. (the “Company” or “AdaptHealth”) entered into an amendment to the letter agreement with Richard Barasch dated June 26, 2023, amended as of August 29, 2023 and October 26, 2023 (as amended, the “Interim CEO Agreement”), pursuant to which Mr. Barasch agreed to continue to serve as the Interim Chief Executive Officer of the Company until February 29, 2024 or such earlier date as determined by the Board of Directors of the Company (the “Board”). Mr. Barasch has agreed to continue to serve as the Interim Chief Executive Officer of the Company until April 30, 2024 or such earlier date as determined by the Board (the “Transition Date”).
The Company entered into a further amendment to the Interim CEO Agreement on March 3, 2024 (the “Interim CEO Fourth Extension Letter”) that will govern the terms of Mr. Barasch’s continued employment as the Interim Chief Executive Officer of the Company commencing March 1, 2024 through the Transition Date. Mr. Barasch will continue to be paid a base salary at a rate of $262,500 per month through the Transition Date and will also receive a grant of restricted stock units, effective as of March 2, 2024, covering a number of shares of the Company’s common stock with an aggregate grant value of $175,000 that vest on the Transition Date, subject to continued service through the Transition Date.
The foregoing description of the Interim CEO Fourth Extension Letter is qualified in its entirety by reference to the full text of the Interim CEO Fourth Extension Letter, which is attached as Exhibit 10.1 hereto and incorporated by reference herein.
Item 9.01 Financial Statements and Exhibits.
(d) | Exhibits |
Exhibit No. |
Description | |
10.1 | Fourth Amendment to Letter Agreement between AdaptHealth Corp. and Richard Barasch, dated March 3, 2024. | |
104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.
Dated: March 4, 2024
AdaptHealth Corp. | ||
By: | /s/ Jason Clemens | |
Name: | Jason Clemens | |
Title: | Chief Financial Officer |
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