Apollo Medical Holdings, Inc. Announces Grant of Inducement Awards Pursuant to Nasdaq Listing Rule 5635(c)(4)

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Apollo Medical Holdings, Inc. announced the grant of time-based and performance-based restricted common stock to its newly-hired Chief Medical Officer, Dr. Dinesh M. Kumar, under the Employment Inducement Award Plan. Additionally, the Committee approved the grant of time-based restricted common stock to another newly-hired, non-executive employee.

ALHAMBRA, Calif., Jan. 24, 2024 /PRNewswire/ -- Apollo Medical Holdings, Inc. ("ApolloMed," and together with its subsidiaries and affiliated entities, the "Company") (Nasdaq: AMEH), a leading physician-centric, technology-powered healthcare company focused on enabling providers in the successful delivery of value-based care, today announced that effective on January 23, 2024, the Compensation Committee of ApolloMed's Board of Directors (the "Committee") granted 85,130 shares of time-based restricted common stock and 65,265 shares of performance-based restricted common stock to Dinesh M. Kumar, M.D., the Company's newly-hired Chief Medical Officer, under the Apollo Medical Holdings, Inc. Employment Inducement Award Plan (the "Inducement Plan"). The Inducement Plan is used exclusively for the grant of equity awards to individuals who were not previously an employee or non-employee director of the Company (or who are re-employed following a bona fide period of non-employment) as an inducement material to such individuals' commencement of employment with the Company, in accordance with Nasdaq Listing Rule 5635(c)(4).

The time-based restricted stock granted to Dr. Kumar will vest, subject to continued employment, over three years in substantially equal annual installments on the first, second and third anniversaries of the grant date. The performance-based restricted stock granted to Dr. Kumar will vest, subject to Dr. Kumar's continued employment in accordance with a time-based vesting schedule of four semi-annual vesting dates beginning on July 1, 2024, and further subject to the achievement of applicable performance goals. Dr. Kumar's inducement awards are subject to the terms and conditions of the Inducement Plan and an award agreement covering the grant.

On January 23, 2024, the Committee also approved the grant under the Inducement Plan, effective on February 5, 2024 (the "Grant Date") of time-based restricted common stock to one individual, as an inducement for that individual to commence employment with ApolloMed on the Grant Date.  The time-based restricted stock to that newly-hired, non-executive employee will have a value of $250,000 on the Grant Date.  That award of time-based restricted common stock will vest, subject to continued employment, over three years in substantially equal annual installments on the first, second and third anniversaries of the Grant Date, and will be subject to the terms and conditions of the Inducement Plan and an award agreement covering the grant.

About Apollo Medical Holdings, Inc.

ApolloMed is a leading physician-centric, technology-powered, risk-bearing healthcare company. Leveraging its proprietary end-to-end technology solutions, ApolloMed operates an integrated healthcare delivery platform that enables providers to successfully participate in value-based care arrangements, thus empowering them to deliver outcomes-based medical care to patients in a cost-effective manner.

Headquartered in Alhambra, California, ApolloMed's subsidiaries and affiliates include management services organizations (MSOs), affiliated independent practice associations (IPAs), and entities participating in the Centers for Medicare & Medicaid Services Innovation Center (CMMI) innovation models. For more information, please visit www.apollomed.net.

FOR MORE INFORMATION, PLEASE CONTACT:

Investor Relations
(626) 943-6491
investors@apollomed.net

Asher Dewhurst, ICR Westwicke
ApolloMedIR@westwicke.com

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SOURCE Apollo Medical Holdings, Inc.

FAQ

What type of stock was granted to Dr. Dinesh M. Kumar?

Dr. Dinesh M. Kumar was granted 85,130 shares of time-based restricted common stock and 65,265 shares of performance-based restricted common stock.

What is the vesting schedule for the time-based restricted stock granted to Dr. Dinesh M. Kumar?

The time-based restricted stock granted to Dr. Kumar will vest over three years in substantially equal annual installments on the first, second, and third anniversaries of the grant date.

What is the value of the time-based restricted stock granted to the newly-hired, non-executive employee?

The award of time-based restricted common stock to the newly-hired, non-executive employee will have a value of $250,000 on the Grant Date.

What is the purpose of the Inducement Plan?

The Inducement Plan is used exclusively for the grant of equity awards to individuals who were not previously an employee or non-employee director of the Company as an inducement material to their commencement of employment with the Company.