secwatch.observer — SEC 8-K summary
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Issuer:     ModivCare Inc (—)
CIK:        0001220754
Form:       8-K
Filed at:   2023-05-18T23:59:59+00:00
Accession:  0001437749-23-015151
Event type: litigation
Sentiment:  negative
Materiality: 0.70
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1220754/000143774923015151/0001437749-23-015151-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1220754/000143774923015151/modv20230518_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-23-015151

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