ALLSCRIPTS HEALTHCARE SOLUTIONS, INC. (NASDAQ:MDRX) 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.
Separation of Chief Financial Officer
On May12, 2017, Allscripts Healthcare Solutions, Inc. (the
Company) announced that Melinda D. Whittington would no longer be
serving as Chief Financial Officer, principal financial officer
or principal accounting officer of the Company, effective
immediately. Ms.Whittingtons departure is not as a result of any
dispute or disagreement over the Companys accounting principles
or practices, financial statement disclosures, ethics policy or
otherwise. To assist in the orderly transition of the Chief
Financial Officer position, Ms.Whittington will continue with the
Company until June5, 2017, at which time Ms.Whittingtons
employment with the Company will terminate. In connection with
her departure, the Company and Ms.Whittington entered into a
Separation Agreement (the Agreement). Under the terms of the
Agreement, and provided Ms.Whittington does not revoke her
acceptance of the terms of the Agreement, consistent with the
terms of Section 4.5.1 of her employment agreement dated
January29, 2016, which was previously filed by the Company as an
exhibit to a Current Report on Form 8-K on February2, 2016,
Ms.Whittington will receive (i)severance equal to 1x the sum of
base salary plus target cash incentive bonus opportunity, with
such severance to be paid over a twelve-month period, (ii)one
year of continued health benefits and (iii)partial accelerated
vesting of equity awards.
Appointment of Interim Chief Financial Officer
On May12, 2017, it was announced that Mr.DennisM. Olis, 54, the
Companys Senior Vice President, Strategic Initiatives, was
appointed as interim Chief Financial Officer, effective
immediately, and will serve as the Companys principal financial
officer and principal accounting officer.
Mr.Olis joined the Company in November 2012 and has served as
Senior Vice President, Strategic Initiatives since November 2016.
From November 2012 to November 2016, Mr.Olis served as Senior
Vice President, Operations. Prior to joining, Mr.Olis was
employed by Motorola, Inc. and Motorola Mobility LLC, a provider
of mobile communication devices and video and data delivery
solutions, for over 28 years. His most recent role at Motorola
was Corporate Vice President, Mobile Device Operations. From 2007
until 2009, he was Corporate Vice President of Finance, Research
Development, Portfolio Management, and Planning at Motorola.
Mr.Olis earned a bachelors degree in finance from Marquette
University and a masters degree in business administration from
DePaul University.
There are no family relationships between Mr.Olis and any
director or executive officer of the Company, and he has no
direct or indirect material interest in any transaction required
to be disclosed to Item404(a) of Regulation S-K.
In connection with appointment of Mr.Olis as interim Chief
Financial Officer, the Compensation Committee of the Board of
Directors of the Company approved an equity award consisting of
$500,000 in performance stock units (PSUs), the vesting of which
is subject to both continued service and the Companys relative
total shareholder return, measured over a single three-year
performance period. The other terms of Mr.Oliss employment remain
unchanged.
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| Item7.01. | Regulation FD Disclosure. |
On May12, 2017, the Company issued a press release announcing
Mr.Oliss promotion to interim Chief Financial Officer of the
Company. A copy of the press release is attached to this Current
Report on Form 8-K as Exhibit 99.1 and is incorporated herein by
reference.
The information furnished to this Item shall not be deemed filed
for purposes of Section18 of the Securities Exchange Act of 1934,
as amended (the Exchange Act), or incorporated by reference in
any filing under the Securities Act of 1933, as amended, or the
Exchange Act.
| Item9.01. | Financial Statements and Exhibits. |
(d) Exhibits.
|
Exhibit No. |
Description |
|
| 99.1 |
Press Release by Allscripts Healthcare Solutions, Inc. dated May12, 2017 |
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About ALLSCRIPTS HEALTHCARE SOLUTIONS, INC. (NASDAQ:MDRX)
Allscripts Healthcare Solutions, Inc. delivers information technology (IT) and services to help healthcare organizations in clinical, financial and operational results. The Company operates through two segments: Clinical and Financial Solutions, and Population Health. The Clinical and Financial Solutions segment includes the sale of integrated clinical software applications and financial and information solutions, which primarily include electronic health record (EHR)-related software, financial and practice management software, related installation, support and maintenance, outsourcing, hosting, revenue cycle management, training and electronic claims administration services. Its Population Health segment includes sale of health management and coordinated care solutions that are focused on hospitals, health systems, other care facilities and accountable care organizations. These solutions enable clients to connect, transition, analyze, and coordinate care across the care community. ALLSCRIPTS HEALTHCARE SOLUTIONS, INC. (NASDAQ:MDRX) Recent Trading Information
ALLSCRIPTS HEALTHCARE SOLUTIONS, INC. (NASDAQ:MDRX) closed its last trading session down -0.32 at 12.32 with 3,683,897 shares trading hands.