secwatch.observer — SEC 8-K summary
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Issuer:     Option Care Health, Inc. (OPCH)
CIK:        0001014739
Form:       8-K
Filed at:   2023-12-11T23:59:59+00:00
Accession:  0001104659-23-125031
Event type: other_material
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 1.02, 2.03, 5.02, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1014739/000110465923125031/0001104659-23-125031-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1014739/000110465923125031/tm2332364d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-125031

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer