ModivCare settles former CEO dispute for $9.55M; releases non-compete

ModivCare Inc

ModivCare to pay former CEO Daniel Greenleaf $9.55M to settle dispute over departure and compensation.
Settlement includes mutual release of claims and releases Greenleaf from non-competition obligations.
Arbitration proceedings (AAA Case No. 01-22-0003-5343) to be dismissed with prejudice.
Greenleaf ceased as President and CEO on July 27, 2022, with separation effective August 1, 2022.
Payment: $6.37M as wages (W-2) and $3.18M as non-wage damages (1099); due within 14 days of effective date.

item 5.02 item 9.01

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Departed

Daniel E. Greenleaf

President and Chief Executive Officer

ModivCare Inc

Effective: 2022-07-27
Filed: May 18, 2023, 7:59 PM ET

On July 27, 2022, Daniel E. Greenleaf ceased serving as President and Chief Executive Officer or as a member of the Board of Directors (the “Board”) of Modivcare Inc.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Daniel E. Greenleaf departed as President and Chief Executive Officer at ModivCare Inc.

Action: ceased serving
Role: President and Chief Executive Officer

Exact text from the filing

On July 27, 2022, Daniel E. Greenleaf ceased serving as President and Chief Executive Officer or as a member of the Board of Directors (the “Board”) of Modivcare Inc.

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Source: SEC EDGAR

accession 0001437749-23-015151

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