Astrana Health Appoints New CFO, Elects Directors

TL;DR

Astrana Health shakes up leadership: new CFO David S. Lee in, Jessica Chen out. Board seats also changed.

AI Summary

Astrana Health, Inc. announced on November 8, 2024, changes in its board and executive team. The company elected two new directors, Dr. David Chen and Mr. David S. Lee, and appointed Mr. Lee as Chief Financial Officer. Additionally, Ms. Jessica Chen resigned as Chief Financial Officer and from the board.

Why It Matters

These leadership changes could signal a new strategic direction or operational focus for Astrana Health, impacting its future performance and investor confidence.

Risk Assessment

Risk Level: medium — Changes in key executive and board positions can introduce uncertainty regarding future strategy and operational stability.

Key Players & Entities

• Astrana Health, Inc. (company) — Registrant
• Dr. David Chen (person) — Newly elected director
• Mr. David S. Lee (person) — Newly elected director and Chief Financial Officer
• Ms. Jessica Chen (person) — Resigned Chief Financial Officer and board member
• November 8, 2024 (date) — Date of earliest event reported

FAQ

Filing Documents

• tm2428141d1_8k.htm (8-K) — 28KB
• 0001104659-24-116826.txt ( ) — 198KB
• ameh-20241108.xsd (EX-101.SCH) — 3KB
• ameh-20241108_lab.xml (EX-101.LAB) — 33KB
• ameh-20241108_pre.xml (EX-101.PRE) — 22KB
• tm2428141d1_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 November 8, 2024, Astrana Health, Inc. (the "Company"), following approval from the Compensation Committee of its Board of Directors (the "Compensation Committee") and the Board of Directors (the "Board"), granted special one-time equity awards under the Company's 2024 Equity Incentive Plan to certain key members of the Company's leadership team. Given the highly competitive nature of the market for executive talent and the impact that the loss of key members of the leadership team would have on the Company at this stage of its development, the Compensation Committee and the Board determined that it was in the best interests of the Company and its stockholders to grant such equity awards in order to promote retention, reward performance and incentivize them to continue to drive stockholder return. Pursuant to the foregoing, the following equity awards were granted: Kenneth Sim, Executive Chairman of the Board: 200,000 shares of restricted stock, of which 133,333 shares are performance-based and 66,667 shares are time-based. Thomas Lam, Vice Chairman of the Board: 40,000 shares of restricted stock, of which 26,667 shares are performance-based and 13,333 shares are time-based. Brandon Sim, Chief Executive Officer and President: 104,200 restricted stock units, of which 69,814 units are performance-based and 34,386 units are time-based. Chandan Basho, Chief Operating Officer and Chief Financial Officer: 47,000 restricted stock units, of which 31,490 units are performance-based and 15,510 units are time-based. Dinesh Kumar, Chief Medical Officer: 67,238 performance-based shares of restricted stock. The vesting terms and performance conditions of the awards granted to Dr. Sim and Dr. Lam are substantially similar to equity awards previously granted to each in December 2023, and the vesting terms and p

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: November 12, 2024 By: /s/ Brandon K. Sim Name: Brandon K. Sim Title: Chief Executive Officer and President

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View this 8-K filing on SEC EDGAR