CROSS COUNTRY HEALTHCARE INC 8-K

What Happened

• Cross Country Healthcare (CCRN) announced that Phil Noe ceased serving as Chief Information Officer effective March 10, 2026. On March 16, 2026 the company and Mr. Noe executed a Separation Agreement and a Consulting (Independent Contractor) Agreement.
• Under the Separation Agreement, Mr. Noe will receive $205,975 in severance (six months of base pay) in exchange for waiving claims against the company; he has seven calendar days to revoke the release. Under the Consulting Agreement, Mr. Noe will provide technology and infrastructure-related services from March 11, 2026 through May 31, 2026 at $198.04 per hour.

Key Details

• Separation effective date: March 10, 2026; agreements executed March 16, 2026.
• Severance: $205,975 (equals six months' base salary), paid in equal bi‑weekly payroll installments over six months, contingent on no timely revocation.
• Consulting term: March 11, 2026 to May 31, 2026; rate $198.04/hour; agreement may be ended earlier by mutual written agreement.
• The Separation and Consulting Agreements are filed as Exhibits 10.1 and 10.2 to the 8-K.

Why It Matters

• This is a change in senior technology leadership and creates a one-time cash obligation of $205,975 plus potential short‑term consulting costs (variable, hourly).
• Investors should note the explicit severance cost and the short-term consulting arrangement that could support transition of IT functions; the filing does not disclose a replacement or ongoing operational impacts.