Acadia Healthcare Company, Inc. 8-K

What Happened
Acadia Healthcare Company, Inc. announced that Christopher H. Hunter departed as CEO and resigned from the Board of Directors effective January 20, 2026. Acadia Management Company, LLC and Mr. Hunter entered a Separation and Release Agreement dated January 20, 2026 that sets out the separation payments and the treatment of his equity awards.

Key Details

• Effective date of departure and resignation: January 20, 2026.
• Cash/severance: payment equal to 1.5× (his base salary + his 2025 target annual bonus), payable in substantially equal installments over 18 months.
• Bonus and retention: remains eligible for any 2025 annual bonus; lump-sum payment of $1,785,000 for a previously agreed retention bonus.
• Benefits and equity: company will pay the after-tax cost of health/dental premiums for him and covered dependents for 18 months (monthly); a prorated portion of his performance-based restricted stock units (PSUs) remains outstanding and may vest based on actual performance for the applicable period, while other unvested equity awards were forfeited for no consideration.
• Conditions: receipt of benefits is conditioned on Mr. Hunter executing a general release in favor of Acadia and complying with restrictive covenants.

Why It Matters
This filing documents a leadership change and the specific cash and equity costs associated with the CEO transition. The separation payments (including the 1.5× payout, the $1.785M retention payment, and continued benefits) represent near-term cash obligations and clarify the treatment of equity that could otherwise affect future dilution. The company did not disclose a successor in this 8-K; investors should watch for follow-up filings or announcements about new leadership and any related operational guidance.