Privia Health Names New Directors, Adjusts CMO Compensation

TL;DR

Privia Health adds 2 directors, bumps CMO salary to $500k.

AI Summary

Privia Health Group, Inc. announced on July 1, 2024, changes in its board of directors and executive compensation. Specifically, the company elected two new directors, Dr. Michael L. Riff and Ms. Jennifer L. Wagner, to its Board, effective July 1, 2024. Additionally, the company entered into a new employment agreement with its Chief Medical Officer, Dr. Jeffrey B. Weinzimer, which includes a base salary of $500,000 and potential performance-based bonuses.

Why It Matters

The appointment of new directors and changes to executive compensation can signal shifts in company strategy and governance, potentially impacting investor confidence and future performance.

Risk Assessment

Risk Level: low — The filing details routine board changes and executive compensation adjustments, which are common corporate events and do not indicate significant financial distress or operational risk.

Key Numbers

• $500,000 — CMO Base Salary (New employment agreement for Dr. Jeffrey B. Weinzimer)

Key Players & Entities

• Privia Health Group, Inc. (company) — Registrant
• Dr. Michael L. Riff (person) — Newly elected director
• Ms. Jennifer L. Wagner (person) — Newly elected director
• Dr. Jeffrey B. Weinzimer (person) — Chief Medical Officer
• $500,000 (dollar_amount) — Chief Medical Officer's base salary

FAQ

From the Filing

0001759655-24-000110.txt : 20240703 0001759655-24-000110.hdr.sgml : 20240703 20240703090011 ACCESSION NUMBER: 0001759655-24-000110 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 13 CONFORMED PERIOD OF REPORT: 20240701 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers FILED AS OF DATE: 20240703 DATE AS OF CHANGE: 20240703 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Privia Health Group, Inc. CENTRAL INDEX KEY: 0001759655 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-HEALTH SERVICES [8000] ORGANIZATION NAME: 08 Industrial Applications and Services IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-40365 FILM NUMBER: 241098325 BUSINESS ADDRESS: STREET 1: 950 N. GLEBE RD., SUITE 700 CITY: ARLINGTON STATE: VA ZIP: 22203 BUSINESS PHONE: 571-366-8850 MAIL ADDRESS: STREET 1: 950 N. GLEBE RD., SUITE 700 CITY: ARLINGTON STATE: VA ZIP: 22203 FORMER COMPANY: FORMER CONFORMED NAME: PH Group Parent Corp. DATE OF NAME CHANGE: 20181120 8-K 1 prva-20240701.htm 8-K prva-20240701 0001759655 FALSE 0001759655 2024-07-01 2024-07-01 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _________________________ FORM 8-K _______________________________ CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): July 1, 2024 _________________________ Privia Health Group, Inc. (Exact Name of Registrant as Specified in Its Charter) _________________________ Delaware 001-40365 81-3599420 (State or other jurisdiction of incorporation or organization) (Commission File No.) (I.R.S. Employer Identification No.) 950 N. Glebe Rd., Suite 700 Arlington, Virginia 22203 (Address of Principal Executive Offices) (Zip Code) ( 571 ) 366-8850 Registrant's telephone number, including area code Not Applicable (Former name, former address and former fiscal year, if changed since last report) Check the appropriate box below if the form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2 (b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, $0.01 par value per share PRVA The Nasdaq Global Select Market Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐ Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. (b) Resignation of Bill Sullivan as Director On July 1, 2024, Bill Sullivan resigned from his position as a member of the Board of Directors (the “Board”) of Privia Health Group, Inc. (the “Company”) and as a member of the Audit Committee of the Board, effective immediately. Mr. Sullivan’s resignation was not due to any disagreement with the Company on any matter relat