Claritev Corp Form 8-K Summary
Business Context and Reporting Period
This Form 8-K was filed by Claritev Corporation on September 23, 2025. The report discloses the appointment of a new Senior Vice President and Chief Accounting Officer, effective September 29, 2025.
Key Financial Metrics
This 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 personnel changes.
Material Changes
The primary material change is the departure of Gerald Kozel as Principal Accounting Officer and the appointment of Brock Albinson to the roles of Senior Vice President, Chief Accounting Officer, and Principal Accounting Officer. Mr. Albinson brings extensive experience from Automatic Data Processing, Inc. (2007-2024) and PricewaterhouseCoopers (1997-2007).
Management Commentary and Compensation Details
The filing outlines the following compensation terms for Mr. Albinson:
- Base Salary: $375,000 annually.
- Annual Cash Incentive: Target amount equal to 50% of the annual base salary.
- Long-Term Incentives (2026 onwards): Eligible for annual grants targeting 150% of base salary, subject to Board approval.
- Restricted Stock Units (RSUs): A grant valued at $150,000 (based on fair market value on the grant date) is planned for September 30, 2025. These RSUs vest pro rata over four years beginning on the first anniversary of the grant.
Investor Verification Checklist
- Confirm the exact grant date and share count for the $150,000 RSU award once the September 30, 2025 grant is executed.
- Verify the transition timeline for Gerald Kozel's departure and the handover of accounting responsibilities.
- Review the Company's 2020 Omnibus Incentive Plan to understand specific vesting conditions and forfeiture clauses applicable to the new officer.