CPSI Reports Executive Compensation, Officer/Director Changes

TL;DR

**CPSI just filed an 8-K about executive pay and potential leadership changes, keep an eye on what this means for the company's direction.**

AI Summary

COMPUTER PROGRAMS AND SYSTEMS, INC. (CPSI) filed an 8-K on January 5, 2024, reporting an event that occurred on December 31, 2023. This filing indicates a change in compensatory arrangements for certain officers, as well as potential departures or elections of directors or officers. For investors, this matters because changes in executive compensation or leadership can signal shifts in company strategy, financial health, or governance, potentially impacting future stock performance.

Why It Matters

Changes in executive compensation or leadership can signal shifts in company strategy or financial health, directly impacting investor confidence and stock valuation.

Risk Assessment

Risk Level: medium — Changes in executive compensation and leadership can introduce uncertainty regarding future company performance and strategic direction.

Analyst Insight

Investors should monitor subsequent filings or company announcements for specific details regarding the changes in compensatory arrangements or leadership, as these will provide clearer insights into the company's future direction and potential impact on stock value.

Key Players & Entities

• COMPUTER PROGRAMS AND SYSTEMS, INC. (company) — the registrant filing the 8-K
• CPSI (company) — trading symbol for COMPUTER PROGRAMS AND SYSTEMS, INC.
• December 31, 2023 (date) — date of the earliest event reported in the 8-K
• January 5, 2024 (date) — date the 8-K was filed

FAQ

Key Financial Figures

• $183.22 — Chambless a consulting fee at a rate of $183.22 per hour and reimburse him for any reas

Filing Documents

• d667456d8k.htm (8-K) — 27KB
• d667456dex101.htm (EX-10.1) — 19KB
• d667456dex102.htm (EX-10.2) — 29KB
• 0001193125-24-003045.txt ( ) — 209KB
• cpsi-20231231.xsd (EX-101.SCH) — 3KB
• cpsi-20231231_lab.xml (EX-101.LAB) — 17KB
• cpsi-20231231_pre.xml (EX-101.PRE) — 11KB
• d667456d8k_htm.xml (XML) — 3KB

02

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers On November 7, 2023, Computer Programs & Systems, Inc. (the "Company") announced that Matthew J. Chambless will no longer serve as the Company's Chief Financial Officer, Treasurer and Secretary, effective December 31, 2023. Pursuant to Mr. Chambless's Executive Severance Agreement, dated June 1, 2023 (the "Severance Agreement"), he will receive, in addition to any accrued but unpaid amounts or benefits, (i) twelve (12) months of equal installment payments which are in the aggregate equal to one (1) times the sum of Mr. Chambless's base salary and target bonus for 2023; (ii) up to twelve (12) months of reimbursements for medical and/or dental continuation coverage; (iii) continued vesting of Mr. Chambless's outstanding unvested shares of restricted stock during the period in which Mr. Chambless is subject to non-competition and non-solicitation covenants; and (iv) a pro rata portion of Mr. Chambless's outstanding cash incentive awards and performance share awards to be calculated in the manner set forth in the applicable award agreements based on the degree of attainment of the applicable performance goals at the end of the applicable performance period, with the amount of the awards, if any, to be pro-rated based on the number of days that Mr. Chambless was employed by the Company during the performance period. As required by Section 2(b) of the Severance Agreement, Mr. Chambless entered into a General Release of Claims, dated December 31, 2023 (the "Release"), pursuant to which Mr. Chambless releases the Company from any and all claims which he now has, or which may accrue in relation to his hiring and employment with the Company or the termination of that employment, up to and including the Release Effective Date (as defined in the Release). On January 1, 2024, the Company and Mr. Chambless entered into

Financial Statements and Exhibits

Financial Statements and Exhibits. (d) Exhibits The following exhibits are filed herewith: Exhibit Number Description 10.1 General Release of Claims, dated December 31, 2023, entered into by Matthew J. Chambless 10.2 Consulting Agreement, dated January 1, 2024, by and between Computer Programs & Systems, Inc. and Matthew J. Chambless. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).

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. COMPUTER PROGRAMS AND SYSTEMS, INC. Date: January 5, 2024 By: /s/ Christopher L. Fowler Christopher L. Fowler President and Chief Executive Officer

View Full Filing

View this 8-K filing on SEC EDGAR