Oncology Institute Files 8-K: Board Changes & Executive Comp
Ticker: TOIIW · Form: 8-K · Filed: Sep 23, 2024 · CIK: 1799191
| Field | Detail |
|---|---|
| Company | Oncology Institute, Inc. (TOIIW) |
| Form Type | 8-K |
| Filed Date | Sep 23, 2024 |
| Risk Level | medium |
| Pages | 4 |
| Reading Time | 5 min |
| Key Dollar Amounts | $0.0001, $11.50, $375,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: governance, executive-compensation, board-changes
TL;DR
Oncology Institute shakes up board, adjusts exec pay. Big governance news.
AI Summary
On September 19, 2024, The Oncology Institute, Inc. filed an 8-K report detailing changes in its board of directors and executive compensation. The filing includes the election of new directors and updates to compensatory arrangements for certain officers, alongside a Regulation FD disclosure and financial statements.
Why It Matters
Changes in board composition and executive compensation can signal shifts in company strategy, governance, and future financial performance.
Risk Assessment
Risk Level: medium — Changes in board and executive compensation can indicate internal shifts that may impact future performance and strategy.
Key Players & Entities
- The Oncology Institute, Inc. (company) — Registrant
- DFP HEALTHCARE ACQUISITIONS CORP. (company) — Former Company Name
FAQ
What specific changes were made to the board of directors?
The filing indicates the election of new directors, but the specific names and details of their election are not provided in this summary section.
What is the nature of the updates to compensatory arrangements?
The filing mentions updates to compensatory arrangements for certain officers, but the specific details of these arrangements are not elaborated upon in the provided text.
What is the significance of the Regulation FD Disclosure?
A Regulation FD Disclosure ensures that material non-public information is broadly disseminated to the public, preventing selective disclosure.
When was the company formerly known as DFP HEALTHCARE ACQUISITIONS CORP.?
The company's name change from DFP HEALTHCARE ACQUISITIONS CORP. to THE ONCOLOGY INSTITUTE, INC. occurred on January 8, 2020.
What is the fiscal year end for The Oncology Institute, Inc.?
The fiscal year end for The Oncology Institute, Inc. is December 31.
Filing Stats: 1,291 words · 5 min read · ~4 pages · Grade level 11.6 · Accepted 2024-09-23 09:00:08
Key Financial Figures
- $0.0001 — ch registered Common Stock, par value $0.0001 TOI The Nasdaq Stock Market LLC R
- $11.50 — mon Stock, each at an exercise price of $11.50 per share TOIIW The Nasdaq Stock Ma
- $375,000 — er's initial annual base salary will be $375,000, and his target annual bonus will be 40
Filing Documents
- toi_8k.htm (8-K) — 35KB
- toi_ex99z1.htm (EX-99.1) — 6KB
- image_002.jpg (GRAPHIC) — 2KB
- 0001553350-24-000088.txt ( ) — 272KB
- toi-20240919.xsd (EX-101.SCH) — 4KB
- toi-20240919_def.xml (EX-101.DEF) — 30KB
- toi-20240919_lab.xml (EX-101.LAB) — 36KB
- toi-20240919_pre.xml (EX-101.PRE) — 27KB
- toi_8k_htm.xml (XML) — 6KB
02
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. Resignation of Chief Financial Officer On September 19, 2024, Mihir Shah, the Chief Financial Officer, principal financial officer, and principal accounting officer of The Oncology Institute, Inc. (the "Company"), delivered a notice of resignation effective as of October 14, 2024. His departure is not related to the operations, policies or practices of the Company or any issues regarding accounting policies or practices. Following his resignation as an officer and employee of the Company, Mr. Shah will assist with the transition of his role and consult for the Company as an advisor pursuant to a consulting arrangement for an indefinite period at an agreed-upon hourly rate for his services. Appointment of new Chief Financial Officer On September 20, 2024, the Company appointed Robert Carter to replace Mr. Shah as the Company's Chief Financial Officer, with effect on October 14, 2024, and in such role, he will serve as the Company's principal financial officer and principal accounting officer. Biography Mr. Carter, aged 39, is currently the Company's Senior Vice President, Finance. With over a decade of finance leadership experience in the healthcare sector, Mr. Carter is a seasoned executive dedicated to driving financial excellence and strategic growth. He joined The Oncology Institute in December 2021 as Vice President of Finance and was promoted to Senior Vice President in 2023. In this role, he has overseen corporate finance, financial planning and analysis (FP&A), treasury and investor relations, playing a crucial role in shaping the Company's financial strategy. Mr. Carter's extensive background spans various healthcare sectors, including pharmaceutical finance, Medicare Advantage, Medi-Cal, and physician group practices. Before joining the Company, Mr. Carter served as Head of FP&A at Hoag He
01
Item 7.01 Regulation FD Disclosure. On September 23, 2024, the Company issued a press release announcing Mr. Shah's resignation and the appointment of Mr. Carter. The full text of the press release is attached as Exhibit 99.1 to this report and is hereby incorporated by reference herein. The information included in this Current Report on Form 8-K under this Item 7.01 (including Exhibit 99.1) 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 into any filing made by the Company under the Exchange Act or the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such a filing.
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) The following exhibits are being filed herewith: Exhibit Description 99.1 Press Release issued by The Oncology Institute, Inc. on September 23, 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: September 23, 2024 THE ONCOLOGY INSTITUTE, INC. By: /s/ Mark Hueppelsheuser Mark Hueppelsheuser General Counsel