---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-125031"
form_type: "8-K"
ticker: "OPCH"
cik: "0001014739"
company_name: "Option Care Health, Inc."
filed_at: "2023-12-11T23:59:59+00:00"
generated_at: "2026-06-07T14:33:54.784861+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Option Care Health enters $400M revolver, adopts new severance plan, CCO departs

## Summary
- Entered $400M New Revolver Facility (SOFR+1.75% initial) maturing Dec 2028; terminated existing ABL facility.
- Adopted Amended Executive Severance Plan: CEO 2.0x/CFO 1.5x/others 1.25x salary outside CIC; higher multiples inside CIC.
- Richard Denness ceased as CCO effective Dec 7, 2023; to remain non-executive employee through Mar 31, 2024.
- Board adopted non-qualified deferred compensation plan allowing deferral of salary/bonus and company contributions.
- By-laws amended to add proxy access for 3% holders for ≥3 yrs, align with universal proxy rules, and other updates.

## SEC filing metadata
- accession: 0001104659-23-125031
- form_type: 8-K
- ticker: OPCH
- cik: 0001014739
- company_name: Option Care Health, Inc.
- filed_at: 2023-12-11T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 1.02, 2.03, 5.02, 5.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1014739/000110465923125031/0001104659-23-125031-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1014739/000110465923125031/tm2332364d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-125031
- JSON: https://secwatch.observer/filing/0001104659-23-125031.json
- Plain text: https://secwatch.observer/filing/0001104659-23-125031.txt

## Key facts
- Governance Changes
  Option Care Health, Inc.: Adopted Fourth Amended and Restated By-Laws including proxy access, enhanced stockholder nomination disclosure, meeting procedures, board meeting notice, officer role clarifications, and ministerial updates (effective 2023-12-06).
  - Change: bylaw amendment
  - Effective: 2023-12-06
  source text: On December 6, 2023, the Board of Directors of the Company unanimously adopted Fourth Amended and Restated By-Laws of the Company (the by-laws, as so amended and restated, the “Amended and Restated By-Laws”), effective immediately.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1014739/000110465923125031/0001104659-23-125031-index.htm
- Material Agreements
  Option Care Health, Inc. terminated ABL Credit Agreement with Bank of America, N.A., as administrative agent.
  - Action: termination
  - Agreement: credit facility
  - Counterparty: Bank of America, N.A., as administrative agent
  source text: Substantially concurrently with the closing of the New Revolver Facility, the Company repaid all loans under, and terminated, that certain ABL Credit Agreement, dated as of August 6, 2019
  evidence_url: https://www.sec.gov/Archives/edgar/data/1014739/000110465923125031/0001104659-23-125031-index.htm
- Material Agreements
  Option Care Health, Inc. amended Amendment with Bank of America, N.A., as administrative agent valued at $400,000,000 (effective 2023-12-07).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: Bank of America, N.A., as administrative agent
  - Value: $400,000,000
  - Effective: 2023-12-07
  source text: On December 7, 2023, Option Care Health, Inc. (the “ Company ”), certain of its subsidiaries, the Incremental Revolving Lenders party thereto and Bank of America, N.A., as administrative agent, entered into the second amendment (the “ Amendment ”) to the amended and restated first lien credit agreement, dated as of October 27, 2021
  evidence_url: https://www.sec.gov/Archives/edgar/data/1014739/000110465923125031/0001104659-23-125031-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.