ALHAMBRA, Calif., Jan. 24,
2024 /PRNewswire/ -- Apollo Medical Holdings, Inc.
("ApolloMed," and together with its subsidiaries and affiliated
entities, the "Company") (Nasdaq: AMEH), a leading
physician-centric, technology-powered healthcare company focused on
enabling providers in the successful delivery of value-based care,
today announced that effective on January
23, 2024, the Compensation Committee of ApolloMed's Board of
Directors (the "Committee") granted 85,130 shares of time-based
restricted common stock and 65,265 shares of performance-based
restricted common stock to Dinesh M. Kumar, M.D., the
Company's newly-hired Chief Medical Officer, under the Apollo
Medical Holdings, Inc. Employment Inducement Award Plan (the
"Inducement Plan"). The Inducement Plan is used exclusively for the
grant of equity awards to individuals who were not previously an
employee or non-employee director of the Company (or who are
re-employed following a bona fide period of non-employment) as an
inducement material to such individuals' commencement of employment
with the Company, in accordance with Nasdaq Listing Rule
5635(c)(4).
The time-based restricted stock granted to Dr. Kumar will vest,
subject to continued employment, over three years in substantially
equal annual installments on the first, second and third
anniversaries of the grant date. The performance-based restricted
stock granted to Dr. Kumar will vest, subject to Dr. Kumar's
continued employment in accordance with a time-based vesting
schedule of four semi-annual vesting dates beginning on
July 1, 2024, and further subject to
the achievement of applicable performance goals. Dr. Kumar's
inducement awards are subject to the terms and conditions of the
Inducement Plan and an award agreement covering the grant.
On January 23, 2024, the Committee
also approved the grant under the Inducement Plan, effective on
February 5, 2024 (the "Grant Date")
of time-based restricted common stock to one individual, as an
inducement for that individual to commence employment with
ApolloMed on the Grant Date. The time-based restricted stock
to that newly-hired, non-executive employee will have a value of
$250,000 on the Grant Date.
That award of time-based restricted common stock will vest, subject
to continued employment, over three years in substantially equal
annual installments on the first, second and third anniversaries of
the Grant Date, and will be subject to the terms and conditions of
the Inducement Plan and an award agreement covering the grant.
About Apollo Medical Holdings, Inc.
ApolloMed is a leading physician-centric, technology-powered,
risk-bearing healthcare company. Leveraging its proprietary
end-to-end technology solutions, ApolloMed operates an integrated
healthcare delivery platform that enables providers to successfully
participate in value-based care arrangements, thus empowering them
to deliver outcomes-based medical care to patients in a
cost-effective manner.
Headquartered in Alhambra,
California, ApolloMed's subsidiaries and affiliates include
management services organizations (MSOs), affiliated independent
practice associations (IPAs), and entities participating in the
Centers for Medicare & Medicaid Services Innovation Center
(CMMI) innovation models. For more information, please visit
www.apollomed.net.
FOR MORE INFORMATION, PLEASE CONTACT:
Investor Relations
(626) 943-6491
investors@apollomed.net
Asher Dewhurst, ICR Westwicke
ApolloMedIR@westwicke.com
View original content to download
multimedia:https://www.prnewswire.com/news-releases/apollo-medical-holdings-inc-announces-grant-of-inducement-awards-pursuant-to-nasdaq-listing-rule-5635c4-302042869.html
SOURCE Apollo Medical Holdings, Inc.