AdaptHealth announces corporate governance changes
By HME News Staff
Updated 8:53 AM CDT, Tue June 25, 2024
PLYMOUTH MEETING, Pa. – AdaptHealth’s stockholders approved, at a recent annual meeting, an amendment and restatement of the company’s stock incentive plan to increase the number of shares reserved by 8.35 million shares, according to a Form 8-K filed with the U.S. Securities and Exchange Commission. Stockholders also approved a proposal to phase out the company’s classified board structure and provide for the annual election of directors. Previously, the board was divided into three classes of about equal size, with each class serving a staggered three-year term. Under the amendment, directors elected prior to the recent annual meeting will continue to serve the remainder of their staggered three-year terms, but going forward, at each annual meeting, elections will be held to elect directors to serve one-year terms expiring at the next annual meeting. After the 2026 annual meeting, the phase out of the classified board structure will be complete and all directors will be subject to annual election for one-year terms.
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