Grant of Awards to New MultiPlan CEO, Travis Dalton, under NYSE Listing Rules

Rhea-AI Summary

MultiPlan Corporation (MPLN) granted employment inducement awards to Travis Dalton, its President and CEO, consisting of 6,849,315 options and 4,504,504 restricted stock units, subject to continued employment. The awards were approved by the Compensation Committee under NYSE rules.

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 Travis Dalton, the Company’s recently appointed President and Chief Executive Officer, on March 1, 2024, employment inducement awards consisting of the following: (i) 6,849,315 with such options vesting over a three-year period from March 1, 2024, in substantially equal annual installments, subject to Mr. Dalton’s continued employment; and (ii) 4,504,504 restricted stock units with such units vesting over a two-year period from March 1, 2024, in substantially equal annual installments, subject to Mr. Dalton’s continued employment. These awards were granted to Mr. Dalton pursuant to the terms of his employment agreement, which was disclosed by the Company on a Form 8-K filed with the SEC on January 4, 2024.

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. 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 delivering affordability, efficiency, and fairness to the US healthcare system by helping healthcare payors manage the cost of care, improve their competitiveness and inspire positive change. 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 and analytics-based, and data and decision science services. MultiPlan is a trusted partner to over 700 healthcare payors, brokers, employer groups, and supplemental carriers in the commercial health, government, and property and casualty markets. For more information, visit multiplan.com.

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Investor Relations

Luke Montgomery, CFA

SVP, Finance & Investor Relations

MultiPlan

866-909-7427

investor@multiplan.com



Shawna Gasik

AVP, Investor Relations

MultiPlan

866-909-7427

investor@multiplan.com



Media Relations

Pam Walker

AVP, Marketing and Communication

MultiPlan

781-895-3118

press@multiplan.com

Source: MultiPlan Corporation

FAQ

How many options were granted to Travis Dalton by MultiPlan Corporation?

Travis Dalton was granted 6,849,315 options by MultiPlan Corporation.

What is the total number of restricted stock units granted to Travis Dalton?

Travis Dalton was granted 4,504,504 restricted stock units by MultiPlan Corporation.

When will the options and restricted stock units granted to Travis Dalton vest?

The options will vest over a three-year period from March 1, 2024, and the restricted stock units will vest over a two-year period from the same date.

Under what conditions will Travis Dalton's options and restricted stock units vest?

Travis Dalton's options and restricted stock units will vest subject to his continued employment at MultiPlan Corporation.

Who approved the employment inducement awards for Travis Dalton at MultiPlan Corporation?

The Compensation Committee of MultiPlan's Board of Directors approved the employment inducement awards for Travis Dalton.