Adeptus Health Inc. (NYSE:ADPT) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item5.02. Departure of Directors or Certain Officers;
Election of Directors; Appointment of Certain Officers;
Compensatory Arrangements of Certain Officers.
As previously reported, Graham B. Cherringtons employment as
President and Chief Operating Officer of Adeptus Health Inc. (the
Company) terminated on December2, 2016. On December15, 2016, the
Company and Mr.Cherrington entered into a Separation and Release
Agreement (the Separation Agreement).
Subject to the terms and conditions of the Separation Agreement,
Mr.Cherrington will be entitled to the following benefits: (i)a
cash payment equal to $550,000, subject to standard payroll
deductions and withholdings, paid in equal installments per the
Companys payroll practices over a period of 12 months;
(ii)payment of the employer portion of health insurance premiums
for health insurance coverage for a period of 12 months; and
(iii)tax return preparation services for his 2016 federal tax
The foregoing is a summary description of certain terms of the
Separation Agreement and does not purport to be complete, and it
is qualified in its entirety by reference to the full text of the
Separation Agreement, a copy of which is filed as Exhibit10.1 to
this Current Report and incorporated herein by reference.
Item9.01. Financial Statements and
Separation and Release Agreement dated December15, 2016 by
About Adeptus Health Inc. (NYSE:ADPT)
Adeptus Health Inc. is a patient-centered healthcare company. The Company is engaged in providing emergency medical care through a network of independent freestanding emergency rooms in the United States and partnerships with various healthcare systems. The Company has approximately 80 freestanding facilities and over two licensed general hospitals. It owns or operates facilities located in the Houston, Dallas/Fort Worth, San Antonio and Austin, Texas markets; Colorado Springs and Denver, Colorado markets, and Phoenix, Arizona market. Its freestanding emergency room facilities typically range from 6,000 to 7,000 square feet. Each facility has 6 to 9 emergency exam rooms, which include over two high-acuity suites, one child-friendly pediatric room, and a specialized obstetrics/gynecology room. Its radiology suites have in-house diagnostic imaging technology, including computerized tomography (CT) scanners, digital x-rays and ultrasounds, with final reads from on-call radiologists. Adeptus Health Inc. (NYSE:ADPT) Recent Trading Information
Adeptus Health Inc. (NYSE:ADPT) closed its last trading session 00.00 at 7.81 with 938,142 shares trading hands.