Concentra Group (NYSE: CON) details Dr. John Anderson’s 2027 consulting and equity terms
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
Concentra Group Holdings Parent, Inc. outlined post-retirement arrangements for Executive Vice President and Chief Medical Officer Dr. John R. Anderson. Following his previously disclosed retirement effective December 31, 2026, Dr. Anderson will transition to a part-time consulting role with subsidiary Concentra Health Services, Inc.
The consulting agreement is effective from January 1, 2027 through December 31, 2027, with either party able to terminate on 30 days’ notice and Concentra able to terminate immediately for Cause. Dr. Anderson will provide up to 10 hours of consulting services per week at $216.00 per hour, and his outstanding unvested restricted stock awards under the 2024 Equity Incentive Plan will continue to vest during the term while he provides services. If he completes the term without termination for Cause or voluntary resignation, 25% of his then-unvested restricted stock will vest, while all unvested equity will be forfeited upon earlier termination for Cause or voluntary resignation, subject to execution of specified releases.
Positive
- None.
Negative
- None.
8-K Event Classification
2 items: 5.02, 9.01
2 items
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
Governance
Key personnel changes including departures, elections, or appointments of directors and executive officers.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
Consulting term start: January 1, 2027
Consulting term end: December 31, 2027
Hourly consulting rate: $216.00 per hour
+3 more
6 metrics
Consulting term start
January 1, 2027
Effective date of Dr. Anderson’s consulting agreement
Consulting term end
December 31, 2027
Scheduled expiration of the consulting agreement term
Hourly consulting rate
$216.00 per hour
Compensation rate for up to 10 hours per week of consulting services
Weekly consulting hours cap
10 hours per week
Maximum time commitment under the consulting agreement
Automatic vesting portion
25% of then-unvested restricted stock
Portion that vests if Dr. Anderson completes the full consulting term without termination for Cause or voluntary resignation
Notice period for termination
30 days
Written notice required by either party to terminate the consulting agreement, absent Cause
Key Terms
Consulting Agreement, Cause, restricted stock awards, Equity Incentive Plan, +1 more
5 terms
Consulting Agreement regulatory
"entered into a consulting agreement, pursuant to which Dr. Anderson will serve as an independent contractor"
Cause regulatory
"Concentra may terminate the Consulting Agreement immediately for Cause"
restricted stock awards financial
"outstanding unvested restricted stock awards granted under the Concentra Group Holdings Parent, Inc. 2024 Equity Incentive Plan"
Restricted stock awards are company shares given to employees or executives that cannot be sold or transferred until certain conditions — like staying with the company for a set time or meeting performance targets — are met, like a gift that is locked in a safe until rules are satisfied. Investors care because these awards tie management’s pay to company performance, can increase the number of shares outstanding when they become tradable (dilution), and may signal expected future selling pressure or commitment to long-term growth.
Equity Incentive Plan financial
"restricted stock awards granted under the Concentra Group Holdings Parent, Inc. 2024 Equity Incentive Plan"
An equity incentive plan is a program that gives employees, executives or directors the right to receive company stock or options to buy stock as part of their pay. Think of it as offering slices of future company profit to motivate people to boost long‑term performance; for investors it matters because it can align employee goals with shareholder value but also increases the number of shares outstanding, which can dilute existing ownership.
general release of claims regulatory
"subject to Dr. Anderson’s execution of a general release of claims upon the commencement of the Term"
FAQ
What executive change did Concentra Group Holdings Parent, Inc. (CON) report for Dr. John R. Anderson?
Dr. John R. Anderson will retire as Executive Vice President and Chief Medical Officer effective December 31, 2026. He will then serve as a part-time independent contractor consultant to Concentra Health Services, Inc. under a new consulting agreement effective January 1, 2027.
What are the key terms of Dr. Anderson’s consulting role with Concentra (CON)?
Dr. Anderson will provide up to 10 hours of consulting services per week at $216.00 per hour. The consulting term runs from January 1, 2027 through December 31, 2027, unless earlier terminated under the agreement’s notice and Cause provisions.
How will Dr. Anderson’s equity awards be treated under the Concentra (CON) consulting agreement?
Outstanding unvested restricted stock awards under the 2024 Equity Incentive Plan will continue to vest during the consulting term if he keeps providing services. If he completes the full term, 25% of his then-unvested restricted stock will automatically vest, subject to required releases.
What happens to Dr. Anderson’s unvested equity if his consulting with Concentra (CON) ends early?
If Dr. Anderson is terminated for Cause or voluntarily resigns before December 31, 2027, all of his unvested equity awards will be immediately forfeited. The equity benefits are also conditioned on signing a general release and a final release of claims.
Can the consulting agreement between Dr. Anderson and Concentra (CON) be terminated early?
Yes. Either party may terminate the consulting agreement at any time with 30 days’ prior written notice. Concentra may also terminate immediately for Cause, as defined in Dr. Anderson’s employment agreement dated November 19, 2010, as amended.