---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-25-001368"
form_type: "8-K"
ticker: "ARDT"
cik: "0001756655"
company_name: "Ardent Health, Inc."
filed_at: "2025-01-13T23:59:59+00:00"
generated_at: "2026-05-28T03:40:43.059129+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Ardent Health provides preliminary 2025 guidance; CMS approves NM directed payment program

## Summary
- CMS approved New Mexico directed payment program for July-December 2024; material Q4 financial benefit expected, amount not yet disclosed.
- Preliminary 2025 guidance: revenue growth mid-single digits plus ~$200M from NM and OK programs; adj. EBITDA mid-single digits plus ~$140M incremental.
- CEO Martin Bonick new base salary $1,076,000; CFO Alfred Lumsdaine base salary $628,000 under amended employment agreements effective Jan 10, 2025.
- CEO severance: 2x (salary + target bonus) for non-CIC, 3x for CIC; CFO severance: 1.5x non-CIC, 2x for CIC.
- Management reiterates intent to provide formal 2025 guidance in February 2025.

## SEC filing metadata
- accession: 0001628280-25-001368
- form_type: 8-K
- ticker: ARDT
- cik: 0001756655
- company_name: Ardent Health, Inc.
- filed_at: 2025-01-13T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 7.01, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1756655/000162828025001368/0001628280-25-001368-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1756655/000162828025001368/ardt-20250113.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-25-001368
- JSON: https://secwatch.observer/filing/0001628280-25-001368.json
- Plain text: https://secwatch.observer/filing/0001628280-25-001368.txt

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