AAC HOLDINGS, INC. (NYSE:AAC) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02.
| (d) | Election of Directors. |
On October30, 2017, W. Larry Cash was appointed to the board of directors (the “Board”) of AAC Holdings, Inc. (the “Company”), effective immediately.
In May 2017, Mr.Cash retired as President of Financial Services and Chief Financial Officer of Community Health Systems, Inc., and also resigned as a member of its board of directors. Mr.Cash previously served as Vice President and group Chief Financial Officer of Columbia/HCA Healthcare Corporation and, prior to that, spent 23 years at Humana Inc. Mr.Cash is currently a member of the board of directors of Cross Country Healthcare, Inc., a provider of nurse and allied staffing services, multi-specialty locum tenens services, and other human capital management services in the healthcare industry, and serves on its audit (chair) and compensation committees.
Mr.Cash will serve as a member of the Board’s Audit Committee. The Board has determined that Mr.Cash is an “independent” director under applicable Securities and Exchange Commission (the “SEC”) and New York Stock Exchange rules and is an “audit committee financial expert,” as such term is defined under applicable SEC rules. There are no family relationships between Mr.Cash and any director or other executive officer of the Company nor are there any transactions between Mr.Cash or any member of his immediate family and the Company or any of its subsidiaries that would be reportable as a related party transaction under the rules of the SEC. Further, there is no arrangement or understanding between Mr.Cash and any other persons or entities to which Mr.Cash was appointed as a director of the Company.
Mr.Cash will receive compensation in accordance with the Company’s standard compensation arrangements for non-employee directors, which are described under the caption “Director Compensation” in the Company’s definitive proxy statement on Schedule 14A filed with the SEC on April12, 2017.
| Item 5.02. | Regulation FD Disclosure. |
On November1, 2017, the Company issued a press release (the “Press Release”) announcing the appointment of Mr.Cash to the Board. A copy of the Press Release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
to the rules and regulations of the SEC, the information in this Item 5.02 disclosure, including Exhibit 99.1 and information set forth therein, is deemed to have been furnished and shall not be deemed to be “filed” under the Securities Exchange Act of 1934, as amended.
| Item 5.02. | Financial Statements and Exhibits. |
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ExhibitNo. |
Description |
| 99.1 | Press Release, dated November 1, 2017 |
AAC Holdings, Inc. ExhibitEX-99.1 2 d483477dex991.htm EX-99.1 EX-99.1 Exhibit 99.1 Investor Contact: Tripp Sullivan Media Contact: Joy Sutton SCR Partners (615) 587-7728 (615) 760-1104 Mediarequest@contactAAC.com IR@contactAAC.com AAC Holdings Names Larry Cash to Board of Directors BRENTWOOD,…To view the full exhibit click here
About AAC HOLDINGS, INC. (NYSE:AAC)
AAC Holdings, Inc. is a provider of inpatient and outpatient substance abuse treatment services for individuals with drug and alcohol addiction. The Company performs drug testing and diagnostics laboratory services and provides physician services to its clients. As of June 30, 2016, the Company operated 12 residential substance abuse treatment facilities located throughout the United States, focused on delivering clinical care and treatment solutions across 1,139 beds, which includes 636 licensed detoxification beds, and 18 standalone outpatient centers. In addition, the Company focuses on expanding The Oxford Centre facility. As of June 30, 2016, the Company’s capacity at its Forterus treatment facility was 14 beds. The Company is engaged in deploying research-based treatment programs with structured curricula for detoxification, residential treatment, partial hospitalization and intensive outpatient care. The Company is also an Internet marketer in the addiction treatment industry.