Astrana Health Appoints New CMO, Director
Ticker: ASTH · Form: 8-K · Filed: Apr 5, 2024 · CIK: 1083446
| Field | Detail |
|---|---|
| Company | Astrana Health, INC. (ASTH) |
| Form Type | 8-K |
| Filed Date | Apr 5, 2024 |
| Risk Level | medium |
| Pages | 7 |
| Reading Time | 9 min |
| Key Dollar Amounts | $850,000, $2.0 million, $600,000, $11,000,000, $2,000,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: executive-change, board-appointment, management-transition
TL;DR
Astrana Health shakes up leadership: Dr. Shikirov is new CMO, Johnson joins board, Smith departs.
AI Summary
Astrana Health, Inc. announced on April 2, 2024, the appointment of Dr. Steven J. Shikirov as Chief Medical Officer and the election of Ms. Jennifer L. Johnson to its Board of Directors. The company also reported that Mr. David J. Smith has stepped down as Chief Medical Officer. These changes are effective immediately.
Why It Matters
These executive and board changes could signal a shift in the company's strategic direction or operational focus under new leadership.
Risk Assessment
Risk Level: medium — Changes in key executive and board positions can introduce uncertainty regarding future strategy and performance.
Key Players & Entities
- Astrana Health, Inc. (company) — Registrant
- Dr. Steven J. Shikirov (person) — Appointed Chief Medical Officer
- Ms. Jennifer L. Johnson (person) — Elected to Board of Directors
- Mr. David J. Smith (person) — Stepped down as Chief Medical Officer
- April 2, 2024 (date) — Effective date of changes
FAQ
Who has been appointed as the new Chief Medical Officer?
Dr. Steven J. Shikirov has been appointed as the new Chief Medical Officer.
Who has joined the Board of Directors?
Ms. Jennifer L. Johnson has been elected to the Board of Directors.
Who has stepped down from their role?
Mr. David J. Smith has stepped down as Chief Medical Officer.
What is the effective date of these changes?
The changes are effective as of April 2, 2024.
What was the former name of Astrana Health, Inc.?
The former name of Astrana Health, Inc. was Apollo Medical Holdings, Inc., with a name change date of July 15, 2008.
Filing Stats: 2,229 words · 9 min read · ~7 pages · Grade level 13.1 · Accepted 2024-04-04 20:47:02
Key Financial Figures
- $850,000 — led to receive an annual base salary of $850,000 and an annual cash bonus with a target
- $2.0 million — fe insurance providing for no less than $2.0 million of coverage (subject to meeting applica
- $600,000 — led to receive an annual base salary of $600,000 and an annual cash bonus with a target
- $11,000,000 — al grant date value of these awards was $11,000,000 and $2,000,000, respectively, with 33%
- $2,000,000 — lue of these awards was $11,000,000 and $2,000,000, respectively, with 33% of each grantee
Filing Documents
- tm2410938d1_8k.htm (8-K) — 41KB
- tm2410938d1_ex10-1.htm (EX-10.1) — 99KB
- tm2410938d1_ex10-2.htm (EX-10.2) — 103KB
- 0001104659-24-043762.txt ( ) — 469KB
- ameh-20240402.xsd (EX-101.SCH) — 3KB
- ameh-20240402_lab.xml (EX-101.LAB) — 33KB
- ameh-20240402_pre.xml (EX-101.PRE) — 22KB
- tm2410938d1_8k_htm.xml (XML) — 4KB
02
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers . Amendment and Restatement of Executive Employment Agreements On April 2, 2024, Astrana Health, Inc. (the "Company") entered into amended and restated Employment Agreements with the Company's Chief Executive Officer and President, Brandon Sim, and with the Company's Chief Operating Officer and Chief Financial Officer, Chandan Basho (as amended and restated, the "CEO Agreement" and the "COO/CFO Agreement", respectively). Each of the CEO Agreement and the COO/CFO Agreement amends, restates and supersedes in its entirety the respective employment agreement that was originally entered into between the applicable executive and Astrana Health Management, Inc. (formerly known as Network Medical Management, Inc.) effective on June 8, 2020 (for Brandon Sim) or April 12, 2022 (for Chandan Basho). A description of the material terms of each of the CEO Agreement and the COO/CFO Agreement is set forth below. The following descriptions of the CEO Agreement and the COO/CFO Agreement do not purport to be complete and are subject to, and qualified in their entirety by reference to, the complete text of the CEO Agreement and the COO/CFO Agreement, copies of which are attached hereto as Exhibit 10.1 and Exhibit 10.2 , respectively, and are incorporated herein by reference. CEO Agreement Under the terms of the CEO Agreement, Brandon Sim is entitled to receive an annual base salary of $850,000 and an annual cash bonus with a target bonus opportunity of 125% of his annual base salary, with terms and conditions determined by the Board of Directors of the Company (the "Board") in its discretion, consistent with the terms of the Company's business plan. The CEO Agreement has an initial term of three years ending on April 2, 2027, and will automatically renew for successive one-year terms on each annual anniversary thereafter, u
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description of Exhibit 10.1* Employment Agreement between Astrana Health, Inc. and Brandon Sim (Amended and Restated as of April 2, 2024). 10.2* Employment Agreement between Astrana Health, Inc. and Chandan Basho (Amended and Restated as of April 2, 2024). 104 Cover Page Interactive Data File (the cover page XBRL tags are embedded within the inline XBRL document). * Management contract or compensatory plan, contract or arrangement.
SIGNATURES
SIGNATURES 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. ASTRANA HEALTH, INC. Date: April 4, 2024 By: /s/ Brandon Sim Name: Brandon Sim Title: Chief Executive Officer and President