CHICAGO--(BUSINESS WIRE)--Accretive Health, Inc. (NYSE: AH) today announced that in connection with the appointment of Joseph G. Flanagan as Chief Operating Officer as of June 3, 2013, the company, under the New York Stock Exchange inducement grant exception, granted to Mr. Flanagan on June 3, 2013: (i) a nonstatutory stock option to purchase up to 800,000 shares of the company’s common stock at an exercise price of $11.47, which was the closing price of the company’s common stock reported on the New York Stock Exchange on June 3, 2013, and (ii) a restricted stock award for 400,000 shares of the Company’s common stock, (collectively, the “Equity Awards”). The inducement grant was approved by the company’s Board of Directors on April 23, 2013 and is being made as an inducement material to Mr. Flanagan’s acceptance of employment with the company, in accordance with New York Stock Exchange Rule 303A.08. The company announced on April 30, 2013 that Mr. Flanagan was appointed Chief Operating Officer effective as of his start date, which was June 3, 2013.
The Equity Awards will vest on a ratable monthly basis over 48 months based on Mr. Flanagan’s continued service to the company, subject to acceleration in specified circumstances.
Accretive Health is providing the above information regarding Mr. Flanagan’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
