Business Context and Reporting Period
This Form 8-K is a current report filed by Owens & Minor, Inc. (not Accendra Health Inc.) on September 23, 2024. The filing discloses a significant executive leadership change within the company.
Key Financial Metrics
The filing does not contain financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity metrics. The document focuses exclusively on executive compensation and appointment details.
Material Changes
The primary material change reported is the appointment of Jonathan A. Leon as Executive Vice President and Chief Financial Officer, effective September 23, 2024. Mr. Leon had previously served as the Company's interim CFO since June 21, 2024, and has been with the company since January 2017 in various treasury and corporate development roles.
Management Commentary and Compensation
Management has outlined the following compensation package for Mr. Leon:
- Base Salary: $550,000 annualized.
- Annual Cash Bonus: Target of $298,431 under the 2024 Annual Incentive Plan.
- Annual Equity Award (Starting 2025): Target grant date fair value of $1,500,000.
- One-Time Equity Award: Time-based restricted stock units with a grant date fair value of $650,000.
- Severance: Covered under the Company's Officer Severance Policy and an Executive Change in Control Severance Agreement.
The filing states there are no family relationships between Mr. Leon and other directors or officers, and no other undisclosed transactions exist.
Investor Verification Checklist
- Verify the transition timeline from interim CFO to permanent CFO for Jonathan A. Leon.
- Review the specific terms of the Executive Change in Control Severance Agreement referenced in the filing.
- Confirm the vesting schedule for the one-time $650,000 restricted stock unit award.
- Check for any subsequent press releases regarding the departure of the previous permanent CFO.