• Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • Settings
  • RSS Feeds
Quantisnow Logo
  • Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • Settings
  • RSS Feeds
Dashboard
    Quantisnow Logo

    © 2025 quantisnow.com
    Democratizing insights since 2022

    Services
    Live news feedsRSS FeedsAlerts
    Company
    AboutQuantisnow PlusContactJobs
    Legal
    Terms of usePrivacy policyCookie policy

    ModivCare Inc. filed SEC Form 8-K: Results of Operations and Financial Condition, Leadership Update, Regulation FD Disclosure, Financial Statements and Exhibits

    3/6/25 4:41:32 PM ET
    $MODV
    Transportation Services
    Consumer Discretionary
    Get the next $MODV alert in real time by email
    prsc-20250306
    0001220754FALSE00012207542025-03-062025-03-06

    UNITED STATES
    SECURITIES AND EXCHANGE COMMISSION
    WASHINGTON, D.C. 20549
     
    FORM 8-K

    CURRENT REPORT
    PURSUANT TO SECTION 13 OR 15(d) OF THE
    SECURITIES EXCHANGE ACT OF 1934
    Date of Report (Date of earliest event reported): March 6, 2025
    ModivCare Inc.
    (Exact name of registrant as specified in its charter)
     
     
    Delaware001-3422186-0845127
    (State or other jurisdiction of
    incorporation or organization)
    (Commission File Number)(I.R.S. Employer
    Identification No.)

    6900 E. Layton Avenue, 12th Floor
    Denver,Colorado80237
    (Address of principal executive offices)(Zip Code)

    (720) 258-2130
    Registrant’s telephone number, including area code:

    Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
    ☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
    ☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
    ☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
    ☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

    Securities registered pursuant to Section 12(b) of the Act:
    Title of each classTrading Symbol(s)Name of exchange on which registered
    Common Stock, $0.001 par value per shareMODVThe NASDAQ Global Select Market
    ¨
    Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
    Emerging growth company ☐
    If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
    ¨





    Item 2.02    Results of Operations and Financial Condition.

    On March 6, 2025, ModivCare Inc. (the “Company”) issued a press release announcing its financial results for the quarter and fiscal year ended December 31, 2024. A copy of the press release is being furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.
    Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

    Appointment of New Directors

    On March 6, 2025, the board of directors (the “Board”) of the Company appointed Alec Cunningham and David Mounts Gonzales as members of the Board, effective March 7, 2025.

    The Board determined that Mr. Cunningham and Mr. Mounts Gonzales satisfy the requirements provided in the Nasdaq Listing Rules and the criteria of the Board to be independent directors. As previously disclosed, on January 9, 2025, the Company entered into Amendment No. 5 (the “Fifth Amendment”) to its Credit Agreement, dated as of February 3, 2022. Pursuant to the Fifth Amendment, the Company has an obligation to appoint to the Board three directors acceptable to certain lenders party thereto, subject to certain conditions. The appointment of Mr. Cunningham is a part of the Company's contractual obligations pursuant to the Fifth Amendment. There are no relationships or related party transactions between the Company and Mr. Cunningham or Mr. Mounts Gonzales, of the type required to be disclosed under applicable Securities and Exchange Commission rules.

    Mr. Cunningham is a proven board member and public and private-company CEO with significant national experience with Medicaid, Medicare, and other public-funded healthcare programs, who has delivered excellent operating results in development and turnaround situations. He has unique talent and deep expertise in the policies and operations of government-sponsored health insurance programs and risk-bearing provider organizations. He spent nine years with WellCare Health Plans, a managed care provider of government-sponsored health insurance programs across the United States, where he served as Chief Executive Officer from 2009 to 2013. During his tenure as CEO, Mr. Cunningham led a strategic, operational, and financial transformation of WellCare. Mr. Cunningham also served as Chief Operating Officer at Aetna, a CVS Health company and top private insurance provider in the United States. Mr. Cunningham holds an MBA from the University of Southern California and a bachelor’s degree in economics from Oklahoma State University.

    Mr. Mounts Gonzales is a General Partner of the AI Catalyst Fund, a significant shareholder in the Company, which invests in public companies to enhance their use of artificial intelligence and advanced technology through strategic engagement. He is an experienced chief executive and public company director, having served as CEO of Inmar Intelligence, a data-driven commerce and analytics platform, from 2010 to 2022, including as Chairman from 2014 to 2022. Previously, he held senior leadership roles at Domino’s Pizza, Inc. as EVP of Supply Chain and CFO, driving innovation in technology, product, and logistics, and at UPS, Inc., where he held multiple executive positions, including International Country Manager, Corporate Controller, and SVP of UPS Capital. His expertise in AI, analytics, and strategic cost optimization will support the Company in driving operational efficiencies and long-term value creation. Mr. Mounts Gonzales holds an MBA from the Wharton School at the University of Pennsylvania and a Bachelor of Science degree from the University of Nevada, Las Vegas.

    Mr. Cunningham and Mr. Mounts Gonzales will receive compensation for service as non-employee directors of the Company consistent with the compensation generally provided to other non-employee directors, as determined by the Board from time to time. Compensation for the Company’s non-employee directors is described in the Company’s Definitive Proxy Statement for its 2024 Annual Meeting of Shareholders filed with the Securities and Exchange Commission on April 29, 2024.
    Item 7.01    Regulation FD Disclosure.

    On March 6, 2025, the Company issued a press release announcing the appointments of Mr. Cunningham and Mr. Mounts Gonzales as described herein, a copy of which is attached as Exhibit 99.1 to this Current Report on Form 8-K and incorporated herein by reference.



    Item 9.01    Financial Statements and Exhibits.
    (d) Exhibits.
    Exhibit
    Number
    Description
    99.1
    Press Release dated March 6, 2025
    101Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document.
    104The cover page from this Current Report on Form 8-K, formatted as Inline XBRL.




    SIGNATURES
    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, thereunto duly authorized.
     
      ModivCare Inc.
    Date: March 6, 2025  By: /s/ L. Heath Sampson
      Name: L. Heath Sampson
      Title: Chief Executive Officer



    Get the next $MODV alert in real time by email

    Chat with this insight

    Save time and jump to the most important pieces.

    Recent Analyst Ratings for
    $MODV

    DatePrice TargetRatingAnalyst
    8/9/2024$35.00Mkt Perform → Outperform
    Barrington Research
    5/6/2024$50.00Hold → Buy
    Lake Street
    2/23/2024$60.00 → $40.00Buy → Hold
    Deutsche Bank
    2/23/2024$60.00 → $39.00Buy → Hold
    Jefferies
    8/3/2022$145.00Overweight
    Stephens
    2/28/2022$190.00 → $155.00Outperform
    Barrington Research
    2/3/2022$180.00 → $150.00Buy
    Deutsche Bank
    12/17/2021$180.00Buy
    Deutsche Bank
    More analyst ratings

    $MODV
    Press Releases

    Fastest customizable press release news feed in the world

    See more
    • Modivcare Reports First Quarter 2025 Financial Results

      Modivcare Inc. (the "Company" or "Modivcare") (NASDAQ:MODV), a technology-enabled healthcare services company that provides a platform of integrated supportive care solutions focused on improving health outcomes, today reported financial results for the three months ended March 31, 2025. "In Q1, we continued to advance our strategic objectives and operational initiatives," said L. Heath Sampson, President and CEO. "Company-wide alignment on key initiatives—securing new contracts, laying the groundwork for scalable automation, reducing G&A, strengthening our working-capital discipline, and progressing toward divestiture readiness—positions us to deliver enhanced performance and long-term va

      5/8/25 4:53:00 PM ET
      $MODV
      Transportation Services
      Consumer Discretionary
    • Modivcare Announces Executive Leadership Transitions as Part of Strategic Business Model Evolution

      Modivcare Inc. (NASDAQ:MODV), a technology-enabled healthcare services company that provides supportive care solutions to address the social determinants of health, today announced the planned departures of two members of its executive leadership team as the company continues to align its structure with its evolving business model and modernization strategy. Barb Gutierrez, Chief Financial Officer, and Jessica Kral, Chief Information Officer, will be departing the company following a period of transition. Barb's and Jessica's departures come as Modivcare evolves its organizational structure in an effort to support the next phase of its modernization strategy—built on the financial and tech

      5/5/25 6:30:00 AM ET
      $MODV
      Transportation Services
      Consumer Discretionary
    • Modivcare to Report First Quarter 2025 Financial Results

      Modivcare Inc. ("Modivcare" or the "Company") (NASDAQ:MODV), a technology-enabled healthcare services company that provides a platform of integrated supportive care solutions focused on improving health outcomes, today announced that the Company is scheduled to report financial results for the first quarter ended March 31, 2025, on Thursday, May 8, 2025, after the market closes and host a conference call at 5:00 p.m. Eastern Time the same day. The conference call dial-in number for domestic callers is (877) 407-8037, and international callers should dial +1 (201) 689-8037. Interested parties may also access the live webcast via the Company's website at: https://investors.modivcare.com/even

      4/28/25 4:05:00 PM ET
      $MODV
      Transportation Services
      Consumer Discretionary

    $MODV
    Insider Trading

    Insider transactions reveal critical sentiment about the company from key stakeholders. See them live in this feed.

    See more
    • SEC Form 3 filed by new insider Silvers Daniel B.

      3 - ModivCare Inc (0001220754) (Issuer)

      4/28/25 7:00:13 AM ET
      $MODV
      Transportation Services
      Consumer Discretionary
    • New insider Mounts Gonzales David claimed ownership of 2,130,000 shares (SEC Form 3)

      3 - ModivCare Inc (0001220754) (Issuer)

      3/17/25 4:46:20 PM ET
      $MODV
      Transportation Services
      Consumer Discretionary
    • SEC Form 3 filed by new insider Cunningham Alexander R.

      3 - ModivCare Inc (0001220754) (Issuer)

      3/17/25 4:33:30 PM ET
      $MODV
      Transportation Services
      Consumer Discretionary

    $MODV
    Analyst Ratings

    Analyst ratings in real time. Analyst ratings have a very high impact on the underlying stock. See them live in this feed.

    See more
    • ModivCare upgraded by Barrington Research with a new price target

      Barrington Research upgraded ModivCare from Mkt Perform to Outperform and set a new price target of $35.00

      8/9/24 9:17:22 AM ET
      $MODV
      Transportation Services
      Consumer Discretionary
    • ModivCare upgraded by Lake Street with a new price target

      Lake Street upgraded ModivCare from Hold to Buy and set a new price target of $50.00

      5/6/24 8:28:24 AM ET
      $MODV
      Transportation Services
      Consumer Discretionary
    • ModivCare downgraded by Deutsche Bank with a new price target

      Deutsche Bank downgraded ModivCare from Buy to Hold and set a new price target of $40.00 from $60.00 previously

      2/23/24 7:11:03 AM ET
      $MODV
      Transportation Services
      Consumer Discretionary

    $MODV
    SEC Filings

    See more
    • ModivCare Inc. filed SEC Form 8-K: Results of Operations and Financial Condition, Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing, Financial Statements and Exhibits

      8-K - ModivCare Inc (0001220754) (Filer)

      5/8/25 4:52:15 PM ET
      $MODV
      Transportation Services
      Consumer Discretionary
    • SEC Form 8-K filed by ModivCare Inc.

      8-K - ModivCare Inc (0001220754) (Filer)

      5/5/25 6:34:16 AM ET
      $MODV
      Transportation Services
      Consumer Discretionary
    • SEC Form DEFA14A filed by ModivCare Inc.

      DEFA14A - ModivCare Inc (0001220754) (Filer)

      4/30/25 4:57:23 PM ET
      $MODV
      Transportation Services
      Consumer Discretionary

    $MODV
    Large Ownership Changes

    This live feed shows all institutional transactions in real time.

    See more
    • Amendment: SEC Form SC 13D/A filed by ModivCare Inc.

      SC 13D/A - ModivCare Inc (0001220754) (Subject)

      12/13/24 9:05:42 PM ET
      $MODV
      Transportation Services
      Consumer Discretionary
    • Amendment: SEC Form SC 13D/A filed by ModivCare Inc.

      SC 13D/A - ModivCare Inc (0001220754) (Subject)

      12/13/24 5:07:48 PM ET
      $MODV
      Transportation Services
      Consumer Discretionary
    • Amendment: SEC Form SC 13D/A filed by ModivCare Inc.

      SC 13D/A - ModivCare Inc (0001220754) (Subject)

      12/9/24 7:46:13 PM ET
      $MODV
      Transportation Services
      Consumer Discretionary

    $MODV
    Financials

    Live finance-specific insights

    See more
    • Modivcare Reports First Quarter 2025 Financial Results

      Modivcare Inc. (the "Company" or "Modivcare") (NASDAQ:MODV), a technology-enabled healthcare services company that provides a platform of integrated supportive care solutions focused on improving health outcomes, today reported financial results for the three months ended March 31, 2025. "In Q1, we continued to advance our strategic objectives and operational initiatives," said L. Heath Sampson, President and CEO. "Company-wide alignment on key initiatives—securing new contracts, laying the groundwork for scalable automation, reducing G&A, strengthening our working-capital discipline, and progressing toward divestiture readiness—positions us to deliver enhanced performance and long-term va

      5/8/25 4:53:00 PM ET
      $MODV
      Transportation Services
      Consumer Discretionary
    • Modivcare to Report First Quarter 2025 Financial Results

      Modivcare Inc. ("Modivcare" or the "Company") (NASDAQ:MODV), a technology-enabled healthcare services company that provides a platform of integrated supportive care solutions focused on improving health outcomes, today announced that the Company is scheduled to report financial results for the first quarter ended March 31, 2025, on Thursday, May 8, 2025, after the market closes and host a conference call at 5:00 p.m. Eastern Time the same day. The conference call dial-in number for domestic callers is (877) 407-8037, and international callers should dial +1 (201) 689-8037. Interested parties may also access the live webcast via the Company's website at: https://investors.modivcare.com/even

      4/28/25 4:05:00 PM ET
      $MODV
      Transportation Services
      Consumer Discretionary
    • Modivcare Reports Fourth Quarter and Full Year 2024 Financial Results; Announces Changes to the Board of Directors

      Modivcare Inc. (the "Company" or "Modivcare") (NASDAQ:MODV), a technology-enabled healthcare services company that provides a suite of integrated supportive care solutions focused on improving patient outcomes, today reported financial results for the three months and full year ended December 31, 2024. Fourth Quarter 2024 Summary: Service revenue of $702.8 million, remaining consistent with the fourth quarter of 2023 Net loss of $23.5 million, or negative $1.64 per diluted common share Adjusted EBITDA(1) of $40.4 million, adjusted net income(1) of $2.7 million and adjusted EPS(1) of $0.19 per diluted common share Net cash provided by operating activities during the quarter of $30.0

      3/6/25 4:23:00 PM ET
      $MODV
      Transportation Services
      Consumer Discretionary

    $MODV
    Insider Purchases

    Insider purchases reveal critical bullish sentiment about the company from key stakeholders. See them live in this feed.

    See more
    • Large owner Ai Catalyst Fund, Lp bought $1,677,000 worth of shares (420,000 units at $3.99) (SEC Form 4)

      4 - ModivCare Inc (0001220754) (Issuer)

      2/3/25 9:56:40 PM ET
      $MODV
      Transportation Services
      Consumer Discretionary
    • Large owner Coliseum Capital Management, Llc bought $9,995,856 worth of shares (1,502,424 units at $6.65) (SEC Form 4)

      4 - ModivCare Inc (0001220754) (Issuer)

      1/14/25 7:32:58 PM ET
      $MODV
      Transportation Services
      Consumer Discretionary
    • Large owner Q Global Capital Management, L.P. bought $48,385 worth of shares (3,837 units at $12.61) and sold $5,400,260 worth of shares (749,002 units at $7.21) (SEC Form 4)

      4 - ModivCare Inc (0001220754) (Issuer)

      1/13/25 6:35:04 PM ET
      $MODV
      Transportation Services
      Consumer Discretionary

    $MODV
    Leadership Updates

    Live Leadership Updates

    See more
    • Modivcare Announces Changes to Board of Directors

      Seasoned Executive Daniel Silvers Brings Decades of Experience in Corporate Finance, Capital Allocation and Public Company Governance Modivcare Inc. ("Modivcare" or the "Company") (NASDAQ:MODV), a technology-enabled healthcare services company that provides a platform of integrated supportive care solutions focused on improving health outcomes, today announced that Daniel Silvers has been appointed to its board of directors (the "Board"), effective April 24, 2025. The appointment of Mr. Silvers completes the Board's previously announced plan to add three new independent directors pursuant to its contractual obligations with its lenders. "We welcome Mr. Silvers to the Board and are confide

      4/25/25 6:30:00 AM ET
      $MODV
      Transportation Services
      Consumer Discretionary
    • Modivcare Announces Changes to Board of Directors

      Financial and Healthcare Executive Erin L. Russell Brings Decades of Experience in Healthcare Capital Markets and Strategy Modivcare Inc. (the "Company" or "Modivcare") (NASDAQ:MODV), a technology-enabled healthcare services company providing a platform of integrated supportive care solutions focused on improving health outcomes, today announced that Erin L. Russell has been appointed to its board of directors (the "Board"), effective February 10, 2025. Ms. Russell brings more than 25 years of experience in the healthcare and financial sectors, with a distinguished track record in capital and credit markets. On the Board, Ms. Russell will be a member of the Audit and Nominating and Govern

      2/14/25 6:00:00 AM ET
      $EHTH
      $KAI
      $MODV
      $TVTY
      Specialty Insurers
      Finance
      Industrial Machinery/Components
      Industrials
    • GE Vernova and Solventum Set to Join S&P 500; Dentsply Sirona to Join S&P MidCap 400; Others to Join S&P SmallCap 600

      NEW YORK, March 27, 2024 /PRNewswire/ -- S&P Dow Jones Indices will make the following changes to the S&P 500, S&P MidCap 400 and S&P SmallCap 600: Solventum Corp. (NYSE:SOLV) will be added to the S&P 500 effective prior to the open of trading on Monday, April 1, replacing V.F. Corp. (NYSE:VFC), which will be moved to the S&P SmallCap 600 effective prior to the open of trading on Wednesday, April 3. V.F. will replace ModivCare Inc. (NASD: MODV) in the S&P SmallCap 600 also effective prior to the open of trading on April 3. S&P 500 and 100 constituent 3M Co. (NYSE:MMM) is spinning off Solventum in a transaction expected to be completed April 1. Following the spin-off, the parent 3M will rema

      3/27/24 6:12:00 PM ET
      $FOXF
      $GE
      $MMM
      $MODV
      Motor Vehicles
      Consumer Discretionary
      Consumer Electronics/Appliances
      Technology