PLYMOUTH MEETING, PA — AdaptHealth Corp. (NASDAQ: AHCO) has announced the granting of restricted stock units (RSUs) to Suzanne Foster, the company’s newly appointed Chief Executive Officer. The RSUs cover 553,251 shares of AdaptHealth’s common stock at target performance levels.
The Compensation Committee of AdaptHealth’s board of directors approved the Inducement RSUs on May 11, 2024. These grants became effective on May 20, 2024, and aim to attract and retain Ms. Foster as part of her employment package, aligning with Nasdaq Listing Rule 5635(c)(4).
Of the total RSUs granted, 229,740 shares will vest in three equal annual installments starting on May 20, 2025, provided Ms. Foster remains with the company. Another set of RSUs, covering 93,771 shares, will vest in two equal annual installments beginning the same day, subject to her continued service.
The remaining RSUs are tied to the company’s Total Shareholder Return (TSR) compared to its peers over a three-year period starting from the effective date. If target performance levels are met, 229,740 shares will vest. At maximum performance levels, up to 459,480 shares could vest, again contingent on Ms. Foster’s continued employment through the performance period.
AdaptHealth’s decision to grant these RSUs reflects its commitment to ensuring strong leadership and aligning executive incentives with shareholder interests. This move also highlights the company’s strategic approach to attracting top talent in the competitive healthcare sector.
Suzanne Foster’s appointment and the structure of her compensation package signal AdaptHealth’s focus on growth and long-term performance. By linking a significant portion of the RSUs to TSR, the company aims to drive sustained value for its shareholders.
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