NEW YORK--(BUSINESS WIRE)--As required by the rules of the New York Stock Exchange, MultiPlan Corporation (NYSE:MPLN) (“MultiPlan” or the “Company”) today announced that it has granted to Douglas Garis, the Company’s recently appointed Executive Vice President, Chief Financial Officer and Treasurer, on August 5, 2024, employment inducement awards consisting of the following: (i) 4,901,960 stock options with such options vesting over a three-year period from August 5, 2024, in substantially equal annual installments, subject to Mr. Garis’ continued employment; and (ii) 3,571,428 restricted stock units with such units vesting over a three-year period from August 5, 2025, in substantially equal annual installments, subject to Mr. Garis’ continued employment. These awards were granted to Mr. Garis pursuant to the terms of his employment agreement.
MultiPlan also announced that it has granted to William Mintz, the Company’s recently appointed Senior Vice President, Corporate Affairs and Strategy, on August 5, 2024, employment inducement awards consisting of 1,928,571 restricted stock units with such units vesting over a four-year period from August 5, 2024, in substantially equal annual installments, subject to Mr. Mintz’s continued employment. These awards were granted to Mr. Mintz pursuant to the terms of his offer letter.
These awards were granted outside the Plan, but except as set forth in the award agreements, will generally be subject to the same terms and conditions as apply to the applicable awards granted under the Company’s 2020 Omnibus Incentive Plan, as amended. The Compensation Committee of MultiPlan’s Board of Directors approved these employment inducement awards in reliance on the employment inducement exception to shareholder approval provided under Section 303A.08 of the NYSE Listed Company Manual. To comply with the terms of this exemption, these employment inducement awards require public announcement of the awards and written notice to the NYSE.
About MultiPlan
MultiPlan is committed to bending the cost curve in healthcare by delivering transparency, fairness, and affordability to the US healthcare system. Our focus is on identifying medical savings, helping to lower out-of- pocket costs, and reducing or eliminating balance billing for healthcare consumers. Leveraging sophisticated technology, data analytics, and a team rich with industry experience, MultiPlan interprets customers’ needs and customizes innovative solutions that combine its payment and revenue integrity, network-based, data and decision science, and analytics-based services. MultiPlan delivers value to more than 700 healthcare payors, over 100,000 employers, 60 million consumers, and 1.4 million contracted providers. For more information, visit multiplan.com.
