SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 14A INFORMATION
the Securities Exchange Act of 1934 (Amendment No. )
![[MISSING IMAGE: lg_concentra-4c.jpg]](https://www.sec.gov/Archives/edgar/data/0002014596/000110465925024771/lg_concentra-4c.jpg)
Addison, Texas, 75001
Phone: (972) 364-8000
Timothy F. Ryan
Executive Vice President and Chief Legal Counsel
![[MISSING IMAGE: lg_concentra-4c.jpg]](https://www.sec.gov/Archives/edgar/data/0002014596/000110465925024771/lg_concentra-4c.jpg)
Addison, Texas, 75001
Phone: (972) 364-8000
www.concentra.com
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Cheryl B. Pegus, MD, MPH
Daniel J. Thomas
| | |
Multiple of
Base Salary |
| |||
Chief Executive Officer
|
| | | | 3.0x | | |
Chairman (if employed by the Company)
|
| | | | 3.0x | | |
President and Chief Financial Officer
|
| | | | 3.0x | | |
All Other Named Executive Officers
|
| | | | 1.5x | | |
Name of Executive
|
| |
Shares of
Restricted Stock Granted |
| |||
William K. Newton
|
| | | | 225,000 | | |
Matthew T. DiCanio
|
| | | | 180,000 | | |
John A. deLorimier
|
| | | | 60,000 | | |
John Anderson
|
| | | | 60,000 | | |
Michael Kosuth
|
| | | | 60,000 | | |
Su Zan Nelson
|
| | | | 60,000 | | |
Name and Principal Position
|
| |
Year
|
| |
Salary
($) |
| |
Bonus
($)(1) |
| |
Stock
Awards ($)(2) |
| |
Non-Equity
Incentive Plan Compensation ($)(3) |
| |
All Other
Compensation ($)(4) |
| |
Total
($) |
| |||||||||||||||||||||
William K. Newton
Chief Executive Officer (Principal Executive Officer) |
| | | | 2024 | | | | | | 700,000 | | | | | | 175,000 | | | | | | 5,195,250 | | | | | | 971,250 | | | | | | 33,661 | | | | | | 7,075,161 | | |
| | | 2023 | | | | | | 700,000 | | | | | | — | | | | | | 999,986 | | | | | | 1,670,550 | | | | | | 3,661,491 | | | | | | 7,032,027 | | | ||
| | | 2022 | | | | | | 698,077 | | | | | | — | | | | | | 1,000,009 | | | | | | 2,331,000 | | | | | | 3,394,185 | | | | | | 7,423,271 | | | ||
Matthew T. DiCanio
President and Chief Financial Officer (Principal Financial Officer) |
| | | | 2024 | | | | | | 550,000 | | | | | | 175,000 | | | | | | 4,156,200 | | | | | | 1,669,458 | | | | | | 5,715 | | | | | | 6,556,373 | | |
| | | 2023 | | | | | | 495,192 | | | | | | — | | | | | | — | | | | | | 645,000 | | | | | | 496,219 | | | | | | 1,636,411 | | | ||
| | | 2022 | | | | | | 362,500 | | | | | | — | | | | | | — | | | | | | 506,250 | | | | | | 462,256 | | | | | | 1,331,006 | | | ||
John A. deLorimier
Executive Vice President, Chief Information and Technology Officer |
| | | | 2024 | | | | | | 450,000 | | | | | | — | | | | | | 1,385,400 | | | | | | 973,706 | | | | | | 10,409 | | | | | | 2,819,515 | | |
| | | 2023 | | | | | | 450,000 | | | | | | — | | | | | | — | | | | | | 435,375 | | | | | | 495,395 | | | | | | 1,380,770 | | | ||
| | | 2022 | | | | | | 450,000 | | | | | | — | | | | | | — | | | | | | 607,500 | | | | | | 461,012 | | | | | | 1,518,512 | | | ||
John Anderson
Executive Vice President, Chief Medical Officer |
| | | | 2024 | | | | | | 450,000 | | | | | | — | | | | | | 1,385,400 | | | | | | 973,706 | | | | | | 7,826 | | | | | | 2,816,932 | | |
Michael Kosuth
Executive Vice President, Chief Operating Officer – East Group |
| | | | 2024 | | | | | | 400,000 | | | | | | — | | | | | | 1,385,400 | | | | | | 945,581 | | | | | | 16,242 | | | | | | 2,747,223 | | |
Su Zan Nelson
Executive Vice President, Chief Accounting Officer |
| | | | 2024 | | | | | | 375,000 | | | | | | 75,000 | | | | | | 1,385,400 | | | | | | 871,471 | | | | | | 3,462 | | | | | | 2,710,333 | | |
| | | 2023 | | | | | | 374,039 | | | | | | — | | | | | | — | | | | | | 362,813 | | | | | | 506,674 | | | | | | 1,243,526 | | | ||
| | | 2022 | | | | | | 350,000 | | | | | | — | | | | | | — | | | | | | 472,500 | | | | | | 471,230 | | | | | | 1,293,730 | | |
Named Executive Officer
|
| |
Year
|
| |
401(k) Matching
Contributions ($) |
| |
Group
Term Life Insurance ($) |
| |
Dividends Paid
on Unvested Shares of Restricted Stock ($)(5) |
| |
Auto
Allowance ($) |
| |
Total
($) |
| ||||||||||||||||||
William K. Newton
|
| | | | 2024 | | | | | | 4,942 | | | | | | 3,564 | | | | | | 25,155 | | | | | | — | | | | | | 33,661 | | |
Matthew T. DiCanio
|
| | | | 2024 | | | | | | 5,175 | | | | | | 540 | | | | | | — | | | | | | — | | | | | | 5,715 | | |
John A. deLorimier
|
| | | | 2024 | | | | | | 4,313 | | | | | | 6,096 | | | | | | — | | | | | | — | | | | | | 10,409 | | |
John Anderson
|
| | | | 2024 | | | | | | 3,500 | | | | | | 4,326 | | | | | | — | | | | | | — | | | | | | 7,826 | | |
Michael Kosuth
|
| | | | 2024 | | | | | | 4,945 | | | | | | 5,290 | | | | | | — | | | | | | 6,007 | | | | | | 16,242 | | |
Su Zan Nelson
|
| | | | 2024 | | | | | | 3,462 | | | | | | — | | | | | | — | | | | | | — | | | | | | 3,462 | | |
| | | | | | | | |
Estimated Future Payouts Under
Non-Equity Incentive Plan Awards(1) |
| |
All Other
Stock Awards: Number of Shares of Stock or Units (#)(4) |
| |
Grant Date
Fair Value of Stock and Option Awards ($)(4) |
| ||||||||||||||||||||||||
Name
|
| |
Grant Date
|
| |
Bonus
Units (#)(1) |
| |
Threshold
($)(2) |
| |
Target
($) |
| |
Maximum
($)(3) |
| ||||||||||||||||||||||||
William K. Newton | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
2024 RSA Grant
|
| | | | 11/26/2024 | | | | | | | | | | | | | | | | | | | | | | | | | | | 225,000 | | | | | | 5,195,250 | | |
Concentra Leadership Team Incentive Plan(5)
|
| | | | 1/1/2024 | | | | | | | | | | | | 647,500 | | | | | | 1,295,000 | | | | | | | | | | | | | | | | | |
Matthew T. DiCanio | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
2024 RSA Grant
|
| | | | 11/26/2024 | | | | | | | | | | | | | | | | | | | | | | | | | | | 180,000 | | | | | | 4,156,200 | | |
Concentra Leadership Team Incentive Plan(5)
|
| | | | 1/1/2024 | | | | | | | | | | | | 275,000 | | | | | | 550,000 | | | | | | | | | | | | | | | | | |
Concentra Executive Leadership Team LTIP
|
| | | | 1/1/2024 | | | | | | 67,651 | | | | | | | | | | | | 550,000 | | | | | | | | | | | | | | | | | |
Concentra Executive Leadership Team LTIP
|
| | | | 1/1/2023 | | | | | | 70,419 | | | | | | | | | | | | 500,000 | | | | | | | | | | | | | | | | | |
John A. deLorimier | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
2024 RSA Grant
|
| | | | 11/26/2024 | | | | | | | | | | | | | | | | | | | | | | | | | | | 60,000 | | | | | | 1,385,400 | | |
Concentra Leadership Team Incentive Plan(5)
|
| | | | 1/1/2024 | | | | | | | | | | | | 168,750 | | | | | | 337,500 | | | | | | | | | | | | | | | | | |
Concentra Executive Leadership Team LTIP
|
| | | | 1/1/2024 | | | | | | 36,900 | | | | | | | | | | | | 300,000 | | | | | | | | | | | | | | | | | |
Concentra Executive Leadership Team LTIP
|
| | | | 1/1/2023 | | | | | | 42,251 | | | | | | | | | | | | 300,000 | | | | | | | | | | | | | | | | | |
John Anderson | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
2024 RSA Grant
|
| | | | 11/26/2024 | | | | | | | | | | | | | | | | | | | | | | | | | | | 60,000 | | | | | | 1,385,400 | | |
Concentra Leadership Team Incentive Plan(5)
|
| | | | 1/1/2024 | | | | | | | | | | | | 168,750 | | | | | | 337,500 | | | | | | | | | | | | | | | | | |
Concentra Executive Leadership Team LTIP
|
| | | | 1/1/2024 | | | | | | 36,900 | | | | | | | | | | | | 300,000 | | | | | | | | | | | | | | | | | |
Concentra Executive Leadership Team LTIP
|
| | | | 1/1/2023 | | | | | | 42,251 | | | | | | | | | | | | 300,000 | | | | | | | | | | | | | | | | | |
Michael Kosuth | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
2024 RSA Grant
|
| | | | 11/26/2024 | | | | | | | | | | | | | | | | | | | | | | | | | | | 60,000 | | | | | | 1,385,400 | | |
Concentra Leadership Team Incentive Plan(5)
|
| | | | 1/1/2024 | | | | | | | | | | | | 150,000 | | | | | | 300,000 | | | | | | | | | | | | | | | | | |
Concentra Executive Leadership Team LTIP
|
| | | | 1/1/2024 | | | | | | 36,900 | | | | | | | | | | | | 300,000 | | | | | | | | | | | | | | | | | |
Concentra Executive Leadership Team LTIP
|
| | | | 1/1/2023 | | | | | | 42,251 | | | | | | | | | | | | 300,000 | | | | | | | | | | | | | | | | | |
Su Zan Nelson | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
2024 RSA Grant
|
| | | | 11/26/2024 | | | | | | | | | | | | | | | | | | | | | | | | | | | 60,000 | | | | | | 1,385,400 | | |
Concentra Leadership Team Incentive Plan(5)
|
| | | | 1/1/2024 | | | | | | | | | | | | 140,625 | | | | | | 281,250 | | | | | | | | | | | | | | | | | |
Concentra Executive Leadership Team LTIP
|
| | | | 1/1/2024 | | | | | | 33,825 | | | | | | | | | | | | 275,000 | | | | | | | | | | | | | | | | | |
Concentra Executive Leadership Team LTIP
|
| | | | 1/1/2023 | | | | | | 38,730 | | | | | | | | | | | | 275,000 | | | | | | | | | | | | | | | | | |
| | | | | | | | |
Stock Awards(1)
|
| |||||||||
Name
|
| |
Grant Date(1)
|
| |
Number of Shares or
Units of Stock That Have Not Vested(2) |
| |
Market Value of
Shares or Units of Stock That Have Not Vested ($)(3) |
| |||||||||
William K. Newton
|
| | | | 11/26/2024 | | | | | | 225,000 | | | | | | 4,450,500 | | |
Matthew T. DiCanio
|
| | | | 11/26/2024 | | | | | | 180,000 | | | | | | 3,560,400 | | |
John A. deLorimier
|
| | | | 11/26/2024 | | | | | | 60,000 | | | | | | 1,186,800 | | |
John Anderson
|
| | | | 11/26/2024 | | | | | | 60,000 | | | | | | 1,186,800 | | |
Michael Kosuth
|
| | | | 11/26/2024 | | | | | | 60,000 | | | | | | 1,186,800 | | |
Su Zan Nelson
|
| | | | 11/26/2024 | | | | | | 60,000 | | | | | | 1,186,800 | | |
| | |
Stock Awards
|
| |||||||||
Name
|
| |
Number of
Shares Acquired on Vesting (#)(1) |
| |
Value Realized
on Vesting ($)(2) |
| ||||||
William K. Newton
|
| | | | 67,081 | | | | | | 2,496,084 | | |
| | |
Without Cause/Without Due Cause
|
| |
For Good Reason(1)
|
| |
Death
|
| |
Disability
|
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Name
|
| |
Base
Salary ($) |
| |
Bonus
($)(2) |
| |
Pro-Rata
Bonus ($)(3) |
| |
Equity
Pro-Rata Vesting Value ($)(4) |
| |
Base
Salary ($) |
| |
Bonus
($)(2) |
| |
Pro-Rata
Bonus ($)(3) |
| |
Equity
Pro-Rata Vesting Value ($) |
| |
Bonus
($)(2) |
| |
Equity
Pro-Rata Vesting Value ($)(4) |
| |
Bonus
($)(2) |
| |
Equity
Pro-Rata Vesting Value ($)(4) |
| ||||||||||||||||||||||||||||||||||||
William K. Newton
|
| | | | 1,400,000 | | | | | | 971,250 | | | | | | 2,035,100 | | | | | | — | | | | | | 1,400,000 | | | | | | 971,250 | | | | | | 2,035,100 | | | | | | | | | | | | 971,250 | | | | | | 106,617 | | | | | | 971,250 | | | | | | 106,617 | | |
Matthew T. DiCanio
|
| | | | 825,000 | | | | | | 1,669,458 | | | | | | — | | | | | | — | | | | | | 825,000 | | | | | | 1,669,458 | | | | | | — | | | | | | — | | | | | | — | | | | | | 85,294 | | | | | | — | | | | | | 85,294 | | |
John A. deLorimier
|
| | | | 337,500 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 28,431 | | | | | | — | | | | | | 28,431 | | |
John Anderson
|
| | | | 450,000 | | | | | | 973,706 | | | | | | — | | | | | | — | | | | | | 450,000 | | | | | | 973,706 | | | | | | — | | | | | | — | | | | | | 973,706 | | | | | | 28,431 | | | | | | 973,706 | | | | | | 28,431 | | |
Michael Kosuth
|
| | | | 333,333 | | | | | | — | | | | | | — | | | | | | — | | | | | | 333,333 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 28,431 | | | | | | — | | | | | | 28,431 | | |
Su Zan Nelson
|
| | | | 281,250 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 28,431 | | | | | | — | | | | | | 28,431 | | |
Year(1) | | | Summary Compensation Table Total for PEO ($) | | | Compensation Actually Paid to PEO ($) | | | Average Summary Compensation Table Total for non-PEO NEOs ($) | | | Average Compensation Actually Paid to non-PEO NEOs ($) | | | Value of Initial Fixed $100 Investment Based On: | | | Net Income ($) | | | EBITDA ($) | | |||||||||||||||||||||||||||
| Total Shareholder Return ($) | | | Peer Group Total Shareholder Return ($) | | ||||||||||||||||||||||||||||||||||||||||||||
2024 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | Adjustments | | | | | | | | |||||||||||||||||||||
Year | | | Summary Compensation Table Total ($) | | | Less: Reported Value of Stock Awards ($)(1) | | | Plus: Year End Fair Value of Restricted Stock Awards Granted During the Year ($)(2)(3) | | | Plus: Change in Fair Value of Outstanding and Unvested Restricted Stock Awards ($)(2)(3) | | | Plus: Change in Fair Value of Restricted Stock Awards Granted in Prior Years that Vested During the Year ($)(2)(3) | | | Compensation Actually Paid ($) | | ||||||||||||||||||
PEO | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
2024 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||
Non-PEO NEOs | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
2024 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
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Committee
|
| |
Compensation for
Meetings Attended in Person |
| |
Compensation for
Meetings Attended Telephonically |
| |
Additional Compensation
for Committee Chairman |
| |||
Audit and Compliance Committee | | |
$3,000 ($4,000 if held
independent of a Board meeting) |
| | | $ | 1,500 | | | |
$1,000 per meeting
attended in person; $500 per meeting attended telephonically |
|
Quality of Care and Patient Safety Committee | | |
$2,000 ($3,000 if held
independent of a Board meeting) |
| | | $ | 1,000 | | | |
$1,000 per meeting
attended in person; $500 per meeting attended telephonically |
|
All Other Committees | | |
$1,000 ($2,000 if held
independent of a Board meeting) |
| | | $ | 500 | | | | N/A | |
Name
|
| |
Fees
Earned ($) |
| |
Stock Awards
($)(1) |
| |
Total
($) |
| |||||||||
William K. Newton
|
| | | | — | | | | | | — | | | | | | — | | |
Robert A. Ortenzio
|
| | | | — | | | | | | 299,985 | | | | | | 299,985 | | |
Daniel J. Thomas
|
| | | | 44,103 | | | | | | 299,985 | | | | | | 344,088 | | |
Dr. Cheryl Pegus
|
| | | | 37,103 | | | | | | 299,985 | | | | | | 337,088 | | |
Dr. Marc R. Watkins
|
| | | | 42,103 | | | | | | 299,985 | | | | | | 342,088 | | |
Name
|
| |
Shares Outstanding
Subject to Unvested Stock Awards (#) |
| |||
William K. Newton
|
| | | | — | | |
Robert A. Ortenzio
|
| | | | 12,992 | | |
Daniel J. Thomas
|
| | | | 12,992 | | |
Dr. Cheryl Pegus
|
| | | | 12,992 | | |
Dr. Marc R. Watkins
|
| | | | 12,992 | | |
PROPOSAL #1
Name
|
| |
Age
|
| |
Director
Since |
| |
Term
Expires |
| |
Positions with the Company
|
|
Class I Directors | | | | | | | | | | | | | |
Daniel J. Thomas | | |
66
|
| | 2024 | | | 2025 | | | Director, Lead Director | |
Cheryl B. Pegus | | |
61
|
| | 2024 | | | 2025 | | | Director | |
Class II Directors | | | | | | | | | | | | | |
William K. Newton | | |
61
|
| | 2024 | | | 2026 | | | Director, Chief Executive Officer | |
Marc R. Watkins | | |
55
|
| | 2024 | | | 2026 | | | Director | |
Class III Directors | | | | | | | | | | | | | |
Robert A. Ortenzio | | |
67
|
| | 2024 | | | 2027 | | | Director, Chairman | |
NAMED EXECUTIVE OFFICERS
PROPOSAL #2
PROPOSAL #3
PUBLIC ACCOUNTING FIRM
PROPOSAL #4
| | |
2024
|
| |
2023
|
| ||||||
Audit Fees
|
| | | $ | 1,107,000 | | | | | $ | — | | |
Audit-Related Fees
|
| | | | — | | | | | | — | | |
Tax Fees
|
| | | | — | | | | | | — | | |
All Other Fees
|
| | | | — | | | | | | — | | |
| | | | $ | 1,107,000 | | | | | $ | — | | |
Daniel J. Thomas, Chair
William K. Newton
Marc R. Watkins
Name of Beneficial Owner and Address
|
| |
Number of Shares
of Common Stock Beneficially Owned (#) |
| |
Percent of
Common Stock Beneficially Owned (%) |
| ||||||
BlackRock, Inc.(1)
50 Hudson Yards New York, NY 10001 |
| | | | 17,803,729 | | | | | | 13.9% | | |
T. Rowe Price Associates, Inc.(2)
100 E. Pratt Street Baltimore, MD 21202 |
| | | | 17,770,513 | | | | | | 13.9% | | |
The Vanguard Group(3)
100 Vanguard Blvd. Malvern, PA 19355 |
| | | | 12,322,623 | | | | | | 9.6% | | |
T. Rowe Price Investment Management, Inc.(4)
101 E. Pratt Street Baltimore, MD 21201 |
| | | | 8,610,562 | | | | | | 6.7% | | |
Name of Beneficial Owner
|
| |
Number of Shares of
Common Stock Beneficially Owned |
| |
Percent of Common
Stock Beneficially Owned |
| ||||||
William K. Newton
|
| | | | 257,831 | | | | | | * | | |
Matthew T. DiCanio
|
| | | | 180,000 | | | | | | * | | |
John A. deLorimier
|
| | | | 60,000 | | | | | | * | | |
John Anderson
|
| | | | 60,000 | | | | | | * | | |
Michael Kosuth
|
| | | | 60,000 | | | | | | * | | |
Su Zan Nelson
|
| | | | 60,000 | | | | | | * | | |
Robert A. Ortenzio(1)
|
| | | | 7,224,027 | | | | | | 5.6% | | |
Daniel J. Thomas
|
| | | | 66,252 | | | | | | * | | |
Cheryl B. Pegus
|
| | | | 12,992 | | | | | | * | | |
Marc R. Watkins
|
| | | | 12,992 | | | | | | * | | |
All directors and executive officers as a group (18 persons)
|
| | | | 8,434,192 | | | | | | 6.6% | | |
Plan Category
|
| |
Number of securities to be
issued upon exercise of outstanding options, warrants and rights (a) |
| |
Weighted-average exercise
price of outstanding options, warrants and rights (b) |
| |
Number of securities
remaining available for future issuance under equity compensation plans (excluding securities reflected in column (a)) (c) |
| |||
Equity compensation plans approved by security holders(1)
|
| |
—
|
| |
—
|
| | | | 4,446,532 | | |
Equity compensation plans not approved by security holders
|
| |
—
|
| |
—
|
| | | | — | | |
Total
|
| |
—
|
| |
—
|
| | | | 4,446,532 | | |
Executive Vice President and Chief Legal Counsel
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