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|8-KFeb 20, 4:45 PM ET

Aveanna Healthcare Holdings, Inc. 8-K

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Aveanna Healthcare Updates CEO, CFO and CLO Employment Agreements

What Happened
On February 17, 2026, Aveanna Healthcare, LLC (a subsidiary of Aveanna Healthcare Holdings, Inc.) entered into new employment agreements with CEO Jeff Shaner, CFO Matthew Buckhalter and CLO/Secretary Jerry Perchik. The agreements replace prior contracts and set minimum base salaries, target annual bonus levels and eligibility for discretionary equity grants, and they include detailed severance protections for termination both inside and outside of a change-in-control period.

Key Details

  • Effective date: February 17, 2026; filing on Form 8-K on February 20, 2026.
  • Base salary: $750,000 (Shaner); $500,000 (Buckhalter); $450,000 (Perchik).
  • Target annual bonus (short-term incentive): 100% of salary (Shaner); 75% (Buckhalter); 75% (Perchik).
  • Outside a Change in Control: severance lump-sum = 2.0x (Shaner) or 1.0x (Buckhalter, Perchik) of (base salary + target bonus); pro‑rata bonus and pro‑rata vesting of equity; COBRA subsidy = 24 months (Shaner) or 12 months (others).
  • During a Change in Control Period: severance lump-sum = 2.5x (Shaner) or 2.0x (Buckhalter, Perchik) of (base salary + target bonus); full vesting of time‑based awards and pro‑rated/performance‑based vesting; COBRA subsidy = 30 months (Shaner) or 24 months (others).
  • Payments and benefits are conditioned on timely execution (and non‑revocation) of a release of claims. Agreements include customary non-competition, non-solicitation, non-disparagement and confidentiality provisions. Copies attached as Exhibits 99.1–99.3.

Why It Matters
These new agreements clarify pay, bonus targets and severance protections for Aveanna’s top executives, strengthening retention incentives and specifying potential costs the company could incur on termination or a sale. For investors, the key takeaways are the explicit severance multiples and COBRA subsidy durations (which could affect cash outflows in a termination or change‑of‑control scenario), and continued eligibility for discretionary equity grants that align management compensation with shareholder outcomes.