Accretive Health, Inc. (AH) today announced that pursuant to the employment agreement entered into with Stephen Schuckenbrock on April 2, 2013, the company granted to Mr. Schuckenbrock on April 3, 2013 a non-qualified stock option under the New York Stock Exchange inducement grant exception. The inducement grant was approved by the company’s Board of Directors on April 1, 2013 and is being made as an inducement material to Mr. Schuckenbrock’s acceptance of employment with the company, in accordance with New York Stock Exchange Rule 303A.08. The company previously announced that Mr. Schuckenbrock has been appointed President and Chief Executive Officer and a member of the company's Board of Directors, effective April 3, 2013.
The stock option is for the purchase of 2,903,801 shares of the company’s common stock, with an exercise price of $9.56, which was the closing price of the company’s common stock reported on the New York Stock Exchange on April 3, 2013. The stock option will vest and become exercisable on a ratable monthly basis over 48 months based on continued service to the company, subject to acceleration in specified circumstances.
Accretive Health is providing the above information regarding Mr. Schuckenbrock’s inducement grant in accordance with New York Stock Exchange Rule 303A.08.
About Accretive Health
At Accretive Health, our mission is to help our healthcare clients strengthen their financial stability and deliver better care at a more affordable cost to the communities they serve (increasing healthcare access to all). For more information, visit www.accretivehealth.com.