CHICAGO--(BUSINESS WIRE)--Accretive Health, Inc. (NYSE: AH) today announced that pursuant to an employment agreement entered into with Richard Kimball Jr., on April 30, 2013, the company granted to Mr. Kimball on April 30, 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 23, 2013 and is being made as an inducement material to Mr. Kimball’s acceptance of employment with the company, in accordance with New York Stock Exchange Rule 303A.08. Mr. Kimball has been appointed Senior Vice President, Chief Strategy Officer, effective April 30, 2013.
The stock option is for the purchase of 1,000,000 shares of the company’s common stock, with an exercise price of $10.54, which was the closing price of the company’s common stock reported on the New York Stock Exchange on April 30, 2013. The stock option will vest and become exercisable with respect to the first 250,000 shares ratably on a quarterly basis during the first year of Mr. Kimball’s employment, and with respect to the remaining 750,000 shares, ratably on an annual basis during the second through fourth years of Mr. Kimball’s employment, in each case subject to continued service to the company.
Accretive Health is providing the above information regarding Mr. Kimball’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.
