AdaptHealth CFO Departs, New Directors Appointed
Ticker: AHCO · Form: 8-K · Filed: Oct 22, 2024 · CIK: 1725255
Sentiment: neutral
Topics: executive-change, board-election, cfo-departure
TL;DR
AdaptHealth CFO out, new board members in. Keep an eye on the interim CFO.
AI Summary
AdaptHealth Corp. announced on October 16, 2024, the departure of its Chief Financial Officer, Paul F. Rome, effective October 15, 2024. The company also appointed Mark J. P. Dempsey as interim CFO. Additionally, the board of directors elected two new directors, David R. Johnson and Steven L. Johnson, to serve until the 2026 annual meeting.
Why It Matters
Changes in key executive positions and board composition can signal strategic shifts or internal challenges within a company, potentially impacting investor confidence and future performance.
Risk Assessment
Risk Level: medium — Changes in CFO and board composition can indicate underlying issues or strategic realignments that may pose risks to the company's stability and future prospects.
Key Players & Entities
- AdaptHealth Corp. (company) — Registrant
- Paul F. Rome (person) — Departing Chief Financial Officer
- Mark J. P. Dempsey (person) — Interim Chief Financial Officer
- David R. Johnson (person) — Newly Elected Director
- Steven L. Johnson (person) — Newly Elected Director
- October 16, 2024 (date) — Date of Report
- October 15, 2024 (date) — Effective date of CFO departure
FAQ
Who has been appointed as the interim Chief Financial Officer of AdaptHealth Corp.?
Mark J. P. Dempsey has been appointed as the interim Chief Financial Officer.
When was Paul F. Rome's departure as CFO effective?
Paul F. Rome's departure was effective October 15, 2024.
Who are the new directors elected to AdaptHealth's board?
David R. Johnson and Steven L. Johnson have been elected as new directors.
What is the term for the newly elected directors?
The newly elected directors will serve until the 2026 annual meeting.
What is the primary reason for this Form 8-K filing?
This Form 8-K is filed to report the departure of a principal officer, the election of directors, and the appointment of a principal officer.
Filing Stats: 947 words · 4 min read · ~3 pages · Grade level 10.8 · Accepted 2024-10-22 06:01:15
Key Financial Figures
- $0.0001 — registered Common Stock, par value $0.0001 per share AHCO The Nasdaq Stock Mar
Filing Documents
- tm2426573d1_8k.htm (8-K) — 30KB
- tm2426573d1_ex10-1.htm (EX-10.1) — 97KB
- tm2426573d1_ex99-1.htm (EX-99.1) — 8KB
- tm2426573d1_ex99-1img01.jpg (GRAPHIC) — 16KB
- 0001104659-24-110349.txt ( ) — 358KB
- ahco-20241016.xsd (EX-101.SCH) — 3KB
- ahco-20241016_lab.xml (EX-101.LAB) — 33KB
- ahco-20241016_pre.xml (EX-101.PRE) — 22KB
- tm2426573d1_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. On October 16, 2024, following the recommendation of the nominating and governance committee of AdaptHealth Corp. (the "Company"), the Board of Directors of the Company (the "Board") appointed Diana L. Nole, age 59, to the Board, effective October 16, 2024. Ms. Nole will serve as a Class I director until her term expires at the 2026 annual meeting of stockholders, at which time she will stand for election by the Company's stockholders. From June 1, 2020 to October 4, 2024, Ms. Nole served as the Executive Vice President and General Manager of the Healthcare Division of Nuance Communications (which was acquired by Microsoft Corp. in 2022). Ms. Nole has previously served as the chief executive officer of Wolter Kluwers' Healthcare division, president of Carestream's Digital Medical Solutions business, and vice president of strategy, product management, and marketing for Eastman Kodak's Healthcare Information Technology Solutions business. Ms. Nole has dual degrees in Computer Science and Math from the State University of New York at Potsdam and earned her MBA from the University of Rochester's Simon School. Ms. Nole will receive the same compensation opportunities as the Company's other non-employee directors (pro-rated for the current year). A description of such compensation arrangement can be found on the Company's Definitive Proxy Statement on Schedule 14A filed with the Securities and Exchange Commission on April 26, 2024. The Board has determined that Ms. Nole is "independent" within the meaning of the applicable rules and regulations of the Securities and Exchange Commission and the listing standards of the Nasdaq Stock Market. There are no arrangements or understandings between Ms. Nole and any other person pursuant to which Ms. Nole was selected as a director, and there are no family relationships betw
01 Regulation FD Disclosure
Item 7.01 Regulation FD Disclosure The Company issued a press release on October 17, 2024, announcing the events described in Item 5.02 above. A copy of the press release is furnished as Exhibit 99.1. The information in Item 7.01 of this Current Report on Form 8-K, including Exhibit 99.1, is being furnished and shall not be deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing.
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) Exhibits 10.1 Form of Indemnification Agreement 99.1 Press Release dated October 17, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized. Dated: October 22, 2024 AdaptHealth Corp. By: /s/ Jonathan B. Bush Name: Jonathan B. Bush Title: General Counsel