Former CFO Duckworth returns as Interim CFO at Acadia (NASDAQ: ACHC)
Rhea-AI Filing Summary
Acadia Healthcare Company, Inc. reported a planned Chief Financial Officer transition and reaffirmed its first quarter and full-year 2026 financial guidance. Todd Young will resign as CFO effective April 30, 2026 and will participate in the April 30 earnings call.
The Board appointed former CFO David M. Duckworth as Interim CFO and principal financial officer effective May 1, 2026. His employment agreement runs initially through May 1, 2027, with a base salary of $100,000 per month and eligibility for a $125,000 quarterly cash bonus, plus defined severance protections.
The company highlighted Duckworth’s long prior tenure as CFO from 2012 to 2023 and reiterated that its previously issued 2026 outlook remains in place. Acadia also described customary confidentiality, non-competition and indemnification arrangements associated with his role.
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Insights
Acadia pairs a CFO change with continuity via a former long-time finance leader and unchanged 2026 outlook.
Acadia announced the departure of CFO Todd Young at month-end and the appointment of former CFO David Duckworth as Interim CFO and principal financial officer. Duckworth’s prior decade-long tenure in the role suggests familiarity with the company’s operations, reporting, and capital structure.
The employment agreement provides a high, fixed monthly salary, quarterly bonuses, and specific severance tied partly to hiring a permanent CFO. This structure may help secure stable leadership during the ongoing search for a permanent Chief Executive Officer while the company maintains its existing 2026 financial guidance.
8-K Event Classification
Key Figures
Key Terms
Interim Chief Financial Officer financial
principal financial officer financial
severance benefits financial
non-competition financial
forward-looking statements regulatory
One Big Beautiful Bill Act regulatory
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What leadership change did Acadia Healthcare (ACHC) announce in this 8-K?
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What are the key terms of David Duckworth’s employment agreement with Acadia Healthcare?
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
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| Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
Chief Financial Officer Departure
On April 23, 2026, Acadia Healthcare Company, Inc. (“Acadia” or the “Company”) announced that Todd Young will resign as Chief Financial Officer of Acadia, effective as of April 30, 2026.
Interim Chief Financial Officer Appointment
Also on April 23, 2026, Acadia announced that Acadia’s Board of Directors (the “Board”) has appointed David M. Duckworth as the Interim Chief Financial Officer of Acadia, effective as of the May 1, 2026. Mr. Duckworth has also been designated as the Company’s principal financial officer.
Mr. Duckworth, age 46, previously served as Chief Financial Officer of Acadia from July 2012 to July 2023, having joined Acadia as Controller in April 2011 and becoming Chief Accounting Officer in January 2012 and Chief Financial Officer in July 2012. From May 2010 to April 2011, Mr. Duckworth served as Director of Finance at Emdeon Inc., a leading provider of revenue and payment cycle management and clinical information exchange solutions. Prior to joining Emdeon, Mr. Duckworth was a Manager with Ernst & Young LLP, which he joined in 2002.
There are no arrangements or understandings between Mr. Duckworth and any other person pursuant to which Mr. Duckworth was appointed as Interim Chief Financial Officer of Acadia, and there are no family relationships among any of the Company’s directors or executive officers and Mr. Duckworth. Mr. Duckworth does not have any direct or indirect material interest in any transaction or proposed transaction required to be reported under Item 404(a) of Regulation S-K.
In connection with the appointment of Mr. Duckworth as Interim Chief Financial Officer of Acadia, Mr. Duckworth and Acadia Management Company, LLC, a Delaware limited liability company, entered into an employment agreement, effective as of April 27, 2026 (the “Start Date”) (the “Duckworth Employment Agreement”).
The Duckworth Employment Agreement provides for an initial fixed term of employment commencing as of the Start Date and ending on May 1, 2027. Following such period, the term of Mr. Duckworth’s employment with the Company pursuant to the Duckworth Employment Agreement will be automatically renewed for consecutive one-year periods, unless either party provides 90 days’ prior written notice of non-renewal.
Pursuant to the Duckworth Employment Agreement, Mr. Duckworth (a) will receive a base salary at a monthly rate of $100,000 and (b) will be eligible to receive a quarterly cash bonus equal to $125,000 per quarter. Further, in the event that Mr. Duckworth’s employment is terminated without “cause” (which for the avoidance of doubt does not include a non-renewal of the employment term by the Company) or if Mr. Duckworth resigns his employment for “good reason” (each as defined in the Duckworth Employment Agreement), Mr. Duckworth will receive the following severance benefits, subject to Mr. Duckworth’s timely execution and non-revocation of a general release of claims in favor of Acadia (and certain of its affiliates and related parties, including, without limitation, Acadia Management Company, LLC) and compliance with restrictive covenants (as further described below): (i) solely to the extent that such termination occurs during the first six months of the initial term of Mr. Duckworth’s employment, an amount equal to the base salary Mr. Duckworth would have received during the remainder of such six-month period absent his termination of employment, payable in a lump sum within sixty days following the termination date; and (ii) solely to the extent that such termination occurs in connection with the hiring of a permanent Chief Financial Officer of Acadia, a cash payment equal to $350,000, payable in a lump sum within sixty days following the termination date (and subject to Mr. Duckworth’s provision of reasonable transition services).
Pursuant to the Duckworth Employment Agreement, Mr. Duckworth will be subject to customary confidentiality and intellectual property assignment covenants, as well as non-competition, non-solicitation and non-disparagement covenants during the term of his employment and for specified periods thereafter.
The foregoing description of the Duckworth Employment Agreement is qualified in its entirety by the full text thereof, a copy of which is attached as Exhibit 10.1 and incorporated by reference herein.
In connection with his appointment as Interim Chief Financial Officer, the Company has also entered into its standard form of indemnity agreement, a copy of which is attached as Exhibit 10.2 and incorporated by reference herein, with Mr. Duckworth.
| Item 7.01 | Regulation FD Disclosure. |
On April 23, 2026, Acadia issued a press release in connection with the foregoing Chief Financial Officer transition. The press release is furnished herewith as Exhibit 99.1 hereto and is incorporated herein by reference.
The information furnished pursuant to Item 7.01 in this Current Report on Form 8-K, including Exhibit 99.1, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
| Item 9.01 | Financial Statements and Exhibits. |
| (d) | Exhibits |
| 10.1 | Employment Agreement, effective as of April 27, 2026, by and between Acadia Management Company, LLC and David M. Duckworth | |
| 10.2 | Form of Indemnification Agreement (for directors and officers not affiliated with Waud Capital Partners) (Incorporated by reference to Exhibit 10.3 to the Company’s Current Report on Form 8-K filed November 1, 2011 (File No. 001-35331)) | |
| 99.1 | Press Release, dated April 23, 2026 | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Date: April 23, 2026 | ACADIA HEALTHCARE COMPANY, INC. | |||||
| By: | /s/ Brian P. Farley | |||||
| Brian P. Farley | ||||||
| Executive Vice President, Secretary and General Counsel | ||||||
Exhibit 99.1
Acadia Healthcare Appoints David Duckworth as Interim Chief Financial Officer
Reaffirms Financial Guidance for First Quarter and Full Year 2026
FRANKLIN, Tenn. – April 23, 2026 – Acadia Healthcare Company, Inc. (“Acadia” or the “Company”) (NASDAQ: ACHC) today announced the appointment of David Duckworth, former Chief Financial Officer of Acadia, as Interim Chief Financial Officer, effective May 1, 2026. Duckworth succeeds Todd Young, who is departing from the Company to pursue a CFO role at a private equity-backed animal health company. Young will remain with the Company through April 30, 2026, and will participate in the Company’s first quarter earnings call scheduled for the morning of April 30.
Debra K. Osteen, Chief Executive Officer of Acadia, said, “We are pleased to welcome David back as Interim Chief Financial Officer. He brings a deep understanding of Acadia, our operations, and our industry, along with strong relationships with the Company’s leadership team and Board. David’s experience will be invaluable as we continue executing our strategic priorities to position Acadia for near and long-term success and value creation.”
The Company expects Duckworth to serve as Interim Chief Financial Officer at least until the completion of the previously announced search for a permanent Chief Executive Officer, which remains ongoing.
Osteen continued, “On behalf of the Board and our entire team, I want to thank Todd for his leadership and contributions during his time with Acadia. We appreciate his dedication and wish him all the best in his next chapter.”
Reaffirms First Quarter and Full-Year 2026 Outlook
The Company is reaffirming its first quarter and full-year 2026 financial guidance as updated by its February 25, 2026 press release and reiterated in conjunction with management’s presentation at the Barclays 28th Annual Global Healthcare Conference on March 10, 2026. The Company continues to expect:
First Quarter 2026
| • | Revenue of $820 to $830 million |
| • | Adjusted EBITDA of $130 to $137 million |
| • | Adjusted earnings per diluted share of $0.25 to $0.30 |
Full-Year 2026
| • | Revenue of $3.37 to $3.45 billion |
| • | Adjusted EBITDA of $575 to $610 million |
| • | Adjusted earnings per diluted share of $1.30 to $1.55 |
| • | Capital expenditures of $255 to $280 million |
The Company will issue first quarter 2026 results after the close of the market on April 29, and host its earnings call on April 30 at 9 a.m. Eastern Daylight Time. Additional details can be found on Acadia’s website, https://www.acadiahealthcare.com/.
About David Duckworth
Mr. Duckworth previously served as Acadia Healthcare’s Chief Financial Officer from 2012 to 2023. He joined Acadia in April 2011 as Chief Accounting Officer, after having served since May 2010 as Director of Finance at Emdeon Inc., a leading provider of revenue and payment cycle management and clinical information exchange solutions, which was then a NYSE-listed company. Previously, Mr. Duckworth was a Manager with Ernst & Young LLP, which he joined in 2002. He earned a bachelor’s degree in accounting and a Master of Accountancy, both from the University of Tennessee, Knoxville.
Forward-Looking Information
This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), including statements related to our strategy, growth, and anticipated operating results for future periods. Generally, words such as “may,” “will,” “should,” “could,” “anticipate,” “expect,” “intend,” “estimate,” “plan,” “continue,” and “believe” or the negative of or other variation on these and other similar expressions identify forward-looking statements. These forward-looking statements are made only as of the date of this press release. We do not undertake to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise. Forward-looking statements are based on current expectations and involve risks and uncertainties and our future results could differ significantly from those expressed or implied by our forward-looking statements. Factors that may cause actual results to differ materially include, without limitation, (i) potential difficulties in successfully integrating the operations of acquired facilities or realizing the expected benefits and synergies of our facility expansions, acquisitions, joint ventures and de novo transactions; (ii) Acadia’s ability to add beds, expand services, enhance marketing programs and improve efficiencies at its facilities; (iii) potential reductions in payments received by Acadia from government and commercial payors, including because of the significant changes to Medicaid financing mechanisms introduced by the One Big Beautiful Bill Act (“OBBBA”) enacted on July 4, 2025; (iv) the occurrence of patient incidents, governmental investigations, litigation and adverse regulatory actions, which could adversely affect the price of our common stock and result in substantial payments and incremental regulatory burdens; (v) the risk that Acadia may not generate sufficient cash from operations to service its debt and meet its working capital and capital expenditure
requirements; (vi) changes in expectations resulting from actuarial and other reviews of the Company’s liability reserves and other aspects of its business; (vii) potential disruptions to our information technology systems or a cybersecurity incident; and (viii) potential operating difficulties, including, without limitation, disruption to the U.S. economy and financial markets; reduced admissions and patient volumes, including, without limitation, due to OBBBA’s introduction of work or community engagement requirements in the Medicaid expansion population; increased costs relating to labor, supply chain and other expenditures; changes in competition and client preferences; and general economic or industry conditions that may prevent Acadia from realizing the expected benefits of its business strategies. These factors and others are more fully described in Acadia’s periodic reports and other filings with the Securities and Exchange Commission.
About Acadia
Acadia is a leading provider of behavioral healthcare services across the United States. As of December 31, 2025, Acadia operated a network of 277 behavioral healthcare facilities with over 12,500 beds in 40 states and Puerto Rico. With approximately 25,000 employees serving more than 84,000 patients daily, Acadia is the largest stand-alone behavioral healthcare company in the U.S. Acadia provides behavioral healthcare services to its patients in a variety of settings, including inpatient psychiatric hospitals, specialty treatment facilities, residential treatment centers and outpatient clinics.
Media Contact:
eric.barnes@acadiahealthcare.com
Investor Contact:
InvestorRelations@acadiahealthcare.com