AdaptHealth Names New CMO, Dr. Smith; Dr. Davlantes Departs

TL;DR

AdaptHealth's CMO is out, new CMO Dr. Smith is in. Executive comp details also filed.

AI Summary

AdaptHealth Corp. announced on March 3, 2024, the departure of its Chief Medical Officer, Dr. Elena R. Davlantes, effective March 1, 2024. The company also announced the appointment of Dr. Christopher J. K. Smith as the new Chief Medical Officer. Additionally, the filing details compensatory arrangements for certain officers, including Dr. Smith.

Why It Matters

Changes in key executive positions, especially the Chief Medical Officer, can signal shifts in the company's strategic direction, focus on innovation, or operational priorities.

Risk Assessment

Risk Level: medium — Executive departures and appointments, particularly for a critical role like Chief Medical Officer, can introduce uncertainty regarding future strategy and leadership.

Key Players & Entities

• AdaptHealth Corp. (company) — Registrant
• Dr. Elena R. Davlantes (person) — Departing Chief Medical Officer
• Dr. Christopher J. K. Smith (person) — Newly Appointed Chief Medical Officer
• March 3, 2024 (date) — Date of Report
• March 1, 2024 (date) — Effective Date of Departure

FAQ

Key Financial Figures

• $0.0001 — registered Common Stock, par value $0.0001 per share AHCO The Nasdaq Stock Mar
• $262,500 — e to be paid a base salary at a rate of $262,500 per month through the Transition Date a
• $175,000 — stock with an aggregate grant value of $175,000 that vest on the Transition Date, subje

Filing Documents

• tm247710d1_8k.htm (8-K) — 28KB
• tm247710d1_ex10-1.htm (EX-10.1) — 9KB
• 0001104659-24-030510.txt ( ) — 210KB
• ahco-20240303.xsd (EX-101.SCH) — 3KB
• ahco-20240303_lab.xml (EX-101.LAB) — 33KB
• ahco-20240303_pre.xml (EX-101.PRE) — 22KB
• tm247710d1_8k_htm.xml (XML) — 4KB

02 Departure of Directors or Certain Officers Election

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.

01 Financial Statements and Exhibits

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). - 2 - 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 - 3 -

View Full Filing

View this 8-K filing on SEC EDGAR