v3.26.1
Pay vs Performance Disclosure - USD ($)
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Pay vs Performance Disclosure    
Pay vs Performance Disclosure, Table

Pay versus Performance

The information below is provided pursuant to the SEC pay versus performance disclosure requirements set forth in Item 402(v) of SEC Regulation S-K (the “Pay Versus Performance Rule”), which requires companies to disclose certain information about the relationship between performance and the compensation of named executive officers.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Value of Initial Fixed $100
Investment Based On:

 

 

 

 

 

 

 

Fiscal
Year(a)

 

Summary
Compensation
Table Total
our PEO($)(b)

 

 

Compensation
Actually Paid to
our PEO($)(c)

 

 

Average Summary
Compensation
Table Total for
Other NEOs($)(d)

 

 

Average
Compensation
Actually Paid
to Other
NEOs($)(e)

 

 

Total
Shareholder
Return($)(f)

 

 

Peer Group
Total
Shareholder
Return($)(g)

 

 

Net
Income
($)(h)

 

 

Adjusted
EBITDA

($M)(i)

 

2025

 

 

17,841,460

 

 

 

44,114,009

 

 

 

1,873,666

 

 

 

4,392,928

 

 

 

340.45

 

 

 

123.82

 

 

 

189,113,000

 

 

 

760

 

2024

 

 

17,673,893

 

 

 

15,859,808

 

 

 

1,917,970

 

 

 

1,842,076

 

 

 

154.82

 

 

 

103.33

 

 

 

20,521,000

 

 

 

588

 

 

(1) The dollar amounts in column (b) represent the compensation reported for Mr. Rousseau for each corresponding year in the “Total” column of the Summary Compensation Table for the relevant years.

(2) The dollar amounts in columns (c) and (e) represent the amount of “Compensation Actually Paid” (otherwise known as CAP), as computed in accordance with SEC rules. Compensation Actually Paid does not represent cash or equity value realized or paid to our named executive officers (“NEOs”) but rather is a value calculated under applicable SEC rules. The following table details how Compensation Actually Paid is determined:

 

 

 

2025

 

 

 

Mr. Rousseau
($)

 

 

Average for
Other NEO
($)

 

Summary Compensation Table (“SCT”) Total

 

 

17,841,460

 

 

 

1,873,666

 

Grant Date Fair Value of Stock Awards from SCT

 

 

(6,000,015

)

 

 

(512,505

)

Grant Date Fair Value of Option Awards from SCT

 

 

(5,999,997

)

 

 

(512,502

)

Fair Value of Equity Awards Granted in the Year and Unvested as of
   Year End

 

 

19,114,756

 

 

 

1,075,321

 

Change in Fair Value from Prior Year End of Outstanding and Unvested
   Awards Granted in Prior Years

 

 

15,104,889

 

 

 

1,043,693

 

Change in Fair Value from Prior Year End of Vested Awards Granted in
   Prior Years

 

 

4,052,916

 

 

 

1,425,256

 

Fair Value at Vesting Date of Vested Awards Granted in Current Year

 

 

—

 

 

 

—

 

Compensation Actually Paid

 

 

44,114,009

 

 

 

4,392,928

 

 

(3) The dollar amounts in column (d) represent the average amounts of compensation reported for the other NEOs for each corresponding year in the “Total” column of the Summary Compensation Table for the relevant fiscal year. For 2024, the other NEOs were Jim Mattingly, Steven Reed, Bob Barnes, Mike McMaude and Lisa Nalley. For 2025, the other NEOs were Jim Mattingly, Jennifer Phipps, Bob Barnes, Lisa Nalley, Scott Greenwell and Jennifer Yowler.

(4) Our TSR in column (f) was determined based on the value of an initial fixed investment of $100, as of January 26, 2024, our registration date, including the reinvestment of any dividends.

(5) The amounts shown in this column reflect the cumulative total shareholder return for each fiscal year in the table calculated in the manner prescribed by Item 201(e) of Regulation S-K and reflects the cumulative value of $100 if such amount were invested on January 26, 2024, our registration date, in the S&P 500 Health Care Services Select Industry Index.

(6) EBITDA in column (i) represents the most important financial performance measure used to link Compensation Actually Paid to Company performance (the “Company Selected Measure” as defined in the Pay Versus Performance rules).

Relationship Between Compensation Actually Paid and our Total Shareholder Return

img161785567_1.gif

Relationship Between Compensation Actually Paid and Net Income

img161785567_2.gif

 

 

 

 

 

Relationship Between Compensation Actually Paid and Adjusted EBITDA

img161785567_3.gif

Other Relevant Financial Performance Measures

For 2025, the following list represented the most important financial performance measures we used to link Compensation Actually Paid with our financial performance:

 

Adjusted EBITDA

Operating Unit EBITDA

Net Revenue

 
Company Selected Measure Name AdjustedEBITDA  
Named Executive Officers, Footnote

(3) The dollar amounts in column (d) represent the average amounts of compensation reported for the other NEOs for each corresponding year in the “Total” column of the Summary Compensation Table for the relevant fiscal year. For 2024, the other NEOs were Jim Mattingly, Steven Reed, Bob Barnes, Mike McMaude and Lisa Nalley. For 2025, the other NEOs were Jim Mattingly, Jennifer Phipps, Bob Barnes, Lisa Nalley, Scott Greenwell and Jennifer Yowler.

 
Peer Group Issuers, Footnote (5) The amounts shown in this column reflect the cumulative total shareholder return for each fiscal year in the table calculated in the manner prescribed by Item 201(e) of Regulation S-K and reflects the cumulative value of $100 if such amount were invested on January 26, 2024, our registration date, in the S&P 500 Health Care Services Select Industry Index.  
PEO Total Compensation Amount $ 17,841,460 $ 17,673,893
PEO Actually Paid Compensation Amount $ 44,114,009 15,859,808
Adjustment To PEO Compensation, Footnote

(2) The dollar amounts in columns (c) and (e) represent the amount of “Compensation Actually Paid” (otherwise known as CAP), as computed in accordance with SEC rules. Compensation Actually Paid does not represent cash or equity value realized or paid to our named executive officers (“NEOs”) but rather is a value calculated under applicable SEC rules. The following table details how Compensation Actually Paid is determined:

 

 

 

2025

 

 

 

Mr. Rousseau
($)

 

 

Average for
Other NEO
($)

 

Summary Compensation Table (“SCT”) Total

 

 

17,841,460

 

 

 

1,873,666

 

Grant Date Fair Value of Stock Awards from SCT

 

 

(6,000,015

)

 

 

(512,505

)

Grant Date Fair Value of Option Awards from SCT

 

 

(5,999,997

)

 

 

(512,502

)

Fair Value of Equity Awards Granted in the Year and Unvested as of
   Year End

 

 

19,114,756

 

 

 

1,075,321

 

Change in Fair Value from Prior Year End of Outstanding and Unvested
   Awards Granted in Prior Years

 

 

15,104,889

 

 

 

1,043,693

 

Change in Fair Value from Prior Year End of Vested Awards Granted in
   Prior Years

 

 

4,052,916

 

 

 

1,425,256

 

Fair Value at Vesting Date of Vested Awards Granted in Current Year

 

 

—

 

 

 

—

 

Compensation Actually Paid

 

 

44,114,009

 

 

 

4,392,928

 

 
Non-PEO NEO Average Total Compensation Amount $ 1,873,666 1,917,970
Non-PEO NEO Average Compensation Actually Paid Amount $ 4,392,928 1,842,076
Adjustment to Non-PEO NEO Compensation Footnote

(2) The dollar amounts in columns (c) and (e) represent the amount of “Compensation Actually Paid” (otherwise known as CAP), as computed in accordance with SEC rules. Compensation Actually Paid does not represent cash or equity value realized or paid to our named executive officers (“NEOs”) but rather is a value calculated under applicable SEC rules. The following table details how Compensation Actually Paid is determined:

 

 

 

2025

 

 

 

Mr. Rousseau
($)

 

 

Average for
Other NEO
($)

 

Summary Compensation Table (“SCT”) Total

 

 

17,841,460

 

 

 

1,873,666

 

Grant Date Fair Value of Stock Awards from SCT

 

 

(6,000,015

)

 

 

(512,505

)

Grant Date Fair Value of Option Awards from SCT

 

 

(5,999,997

)

 

 

(512,502

)

Fair Value of Equity Awards Granted in the Year and Unvested as of
   Year End

 

 

19,114,756

 

 

 

1,075,321

 

Change in Fair Value from Prior Year End of Outstanding and Unvested
   Awards Granted in Prior Years

 

 

15,104,889

 

 

 

1,043,693

 

Change in Fair Value from Prior Year End of Vested Awards Granted in
   Prior Years

 

 

4,052,916

 

 

 

1,425,256

 

Fair Value at Vesting Date of Vested Awards Granted in Current Year

 

 

—

 

 

 

—

 

Compensation Actually Paid

 

 

44,114,009

 

 

 

4,392,928

 

 
Compensation Actually Paid vs. Total Shareholder Return

Relationship Between Compensation Actually Paid and our Total Shareholder Return

img161785567_1.gif

 
Compensation Actually Paid vs. Net Income

Relationship Between Compensation Actually Paid and Net Income

img161785567_2.gif

 
Compensation Actually Paid vs. Company Selected Measure

Relationship Between Compensation Actually Paid and Adjusted EBITDA

img161785567_3.gif

 
Tabular List, Table

For 2025, the following list represented the most important financial performance measures we used to link Compensation Actually Paid with our financial performance:

 

Adjusted EBITDA

Operating Unit EBITDA

Net Revenue

 
Total Shareholder Return Amount $ 340.45 154.82
Peer Group Total Shareholder Return Amount 123.82 103.33
Net Income (Loss) $ 189,113,000 $ 20,521,000
PEO Name Mr. Rousseau Mr. Rousseau
Adjusted EBITDA $ 760,000,000 $ 588,000,000
Measure:: 1    
Pay vs Performance Disclosure    
Name Adjusted EBITDA  
Measure:: 2    
Pay vs Performance Disclosure    
Name Operating Unit EBITDA  
Measure:: 3    
Pay vs Performance Disclosure    
Name Net Revenue  
PEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table    
Pay vs Performance Disclosure    
Adjustment to Compensation, Amount $ (6,000,015)  
PEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested    
Pay vs Performance Disclosure    
Adjustment to Compensation, Amount 19,114,756  
PEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested    
Pay vs Performance Disclosure    
Adjustment to Compensation, Amount 15,104,889  
PEO | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year    
Pay vs Performance Disclosure    
Adjustment to Compensation, Amount 0  
PEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year    
Pay vs Performance Disclosure    
Adjustment to Compensation, Amount 4,052,916  
PEO | Grant Date Fair Value of Option Awards From Summary of Compensation Table    
Pay vs Performance Disclosure    
Adjustment to Compensation, Amount (5,999,997)  
Non-PEO NEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table    
Pay vs Performance Disclosure    
Adjustment to Compensation, Amount (512,505)  
Non-PEO NEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested    
Pay vs Performance Disclosure    
Adjustment to Compensation, Amount 1,075,321  
Non-PEO NEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested    
Pay vs Performance Disclosure    
Adjustment to Compensation, Amount 1,043,693  
Non-PEO NEO | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year    
Pay vs Performance Disclosure    
Adjustment to Compensation, Amount 0  
Non-PEO NEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year    
Pay vs Performance Disclosure    
Adjustment to Compensation, Amount 1,425,256  
Non-PEO NEO | Grant Date Fair Value of Option Awards From Summary of Compensation Table    
Pay vs Performance Disclosure    
Adjustment to Compensation, Amount $ (512,502)