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Posted 15 June, 2021

AdaptHealth Corp. appointed Stephen Griggs as new CEO

Nasdaq:AHCO appointed new Chief Executive Officer Stephen Griggs in a 8-K filed on 15 June, 2021.


  On June 14, 2021, the Board appointed Stephen Griggs (the Company's Co-Chief Executive Officer) as Chief Executive Officer, effective immediately.  

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Overview of AdaptHealth Corp.
Health Care/Life Sciences • Medical Equipment/Supplies
AdaptHealth Corp. engages in the provision of home healthcare equipment, supplies and related services. It focuses on sleep therapy equipment to individuals suffering from obstructive sleep apnea (OSA), home medical equipment to patients discharged from acute care and other facilities, oxygen and related chronic therapy services in the home, and HME medical devices and supplies on behalf of chronically ill patients with diabetes care, wound care, urological, ostomy, and nutritional supply needs. The company was founded in 2012 and is headquartered in Plymouth Meeting, PA.
Market Cap
$1.41B
View Company Details
AdaptHealth Corp. by TradingView
Relevant filing section
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory

Arrangements of Certain Officers


On June 14, 2021, AdaptHealth Corp. (the "Company") and Luke McGee, the Company's former Co-Chief Executive Officer and a former member of the Company's Board of Directors (the "Board"), agreed that Mr. McGee would resign from all positions with the Company, including as a member of the Board, effective as of June 11, 2021.


As previously disclosed, the Company had placed Mr. McGee on leave on April 13, 2021.


In connection with the resignation of Mr. McGee, the Company and Mr. McGee entered into a Memorandum of Understanding for Settlement (the "MOU"). The MOU provides that Mr. McGee will be entitled to receive: (i) his unpaid base salary from April 13, 2021 (the beginning of his unpaid leave) through June 11, 2021 and (ii) pro rata vesting through June 11, 2021 of Mr. McGee's unvested equity awards that were scheduled to vest as of December 31, 2021. In addition, Mr. McGee has agreed (x) not to sell 40% of the shares of Company Class A Common Stock held by Mr. McGee or his affiliates for nine months and (y) customary standstill restrictions for one year. The MOU includes a mutual release by Mr. McGee and the Company of claims under his Employment Agreement, dated March 20, 2019. Mr. McGee remains subject to the confidentiality and other restrictive covenant obligations set forth in his Restrictive Covenant Agreement, dated March 20, 2019.


The foregoing description of the MOU does not purport to be complete and is qualified in its entirety by reference to the full text of the MOU filed as Exhibit 10.1 to this Current Report on Form 8-K, which is incorporated by reference herein.


On June 14, 2021, the Board appointed Stephen Griggs (the Company's Co-Chief Executive Officer) as Chief Executive Officer, effective immediately.