CHICAGO--(BUSINESS WIRE)--Accretive Health, Inc. (OTC Pink: ACHI) today announced that pursuant to the offer letter agreement entered into with Peter Csapo on August 6, 2014, the company granted to Csapo on August 12, 2014 a nonstatutory stock option and shares of restricted common stock (collectively the “Inducement Grants”) as an inducement material to Csapo’s acceptance of employment with the company. The Inducement Grants were approved by the company’s Board of Directors on August 6, 2014. The company previously announced that Csapo has been appointed Chief Financial Officer and Treasurer of the company, effective August 12, 2014.
The stock option is for the purchase of 300,000 shares of the company’s common stock, with an exercise price of $8.15, which was the closing price of the company’s common stock reported through the facilities of the OTC Markets Group Inc. on August 12, 2014. The restricted stock award was a grant of 200,000 shares of restricted common stock of the company. The Inducement Grants generally will vest in equal annual installments over four years following the grant date, subject to continued service with the company. The Inducement Grants will be issued outside of the company’s 2010 Stock Incentive Plan.
About Accretive Health
At Accretive Health, our mission is to partner with healthcare communities to serve as a catalyst for a healthier future for all. For more information, visit www.accretivehealth.com.