Business Context and Reporting Period
This Form 8-K is a current report filed by Acadia Healthcare Company, Inc. on October 28, 2020, regarding an event that occurred on October 22, 2020. The filing addresses corporate governance changes specifically related to the Board of Directors.
Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on the appointment of a new director and does not contain financial performance data.
Material Changes
- Board Composition: The Board of Directors increased the number of Class III directors from two to three.
- Director Election: Michael J. Fucci was elected to fill the newly created vacancy in the Class III director seat.
- Term: Mr. Fucci's term will expire at the Company's annual meeting of stockholders in 2023.
- Committee Assignments: The Board has not named Mr. Fucci to any committees at this time.
Management Commentary and Background
Mr. Fucci brings significant experience from the professional services sector. Prior to his retirement in September 2020, he served as Chairman Emeritus of Deloitte U.S. His previous roles included Executive Chairman of Deloitte U.S. (2015–2019) and Chief Operating Officer of Deloitte Consulting (2009–2015). He will receive compensation in accordance with the Company's existing plan for non-employee directors, as detailed in the 2020 definitive proxy statement.
Key Facts for Investor Verification
- Verify the effective date of the Board composition change (October 22, 2020).
- Confirm Michael J. Fucci's term expiration date (2023 annual meeting).
- Review the definitive proxy statement filed on March 25, 2020, for details on the non-employee director compensation plan applicable to Mr. Fucci.
- Note that no financial results or operational metrics are disclosed in this specific filing.