Company: PIII
Filing Date: 2025-04-18
Form Type: PRE 14A
Source: 0001140361-25-014596
Chunk: 40

Company: P3 Health Partners Inc.
Filing Date: 2025-04-18
Form: PRE 14A
Chunk 40
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 received cellphone reimbursement of $312; and Mr. Kavthekar received severance pay 
 of $250,000, 401(k) matching contributions from the Company of $16,429 and cellphone reimbursement of $692.                                                                                                    |

25 Narrative to Summary Compensation Table 2024 Salaries In 2024, the named executive officers received an annual base salary to compensate them for services rendered to our Company. The base salary payable to each named executive officer is intended to provide a fixed component of compensation reflecting the executive’s skill set, experience, role and responsibilities. The 2024 annual base salaries for Dr. Coffman, Dr. Abdou, Dr. Bacchus, Mr. Pedersen and Mr. Kavthekar were $750,000, $800,000, $600,000, $440,000 and $500,000, respectively. 2024 Bonuses Our named executive officers were eligible to earn cash bonuses based upon the achievement of pre-established performance goals for 2024, including goals related to revenue, operating expense and Adjusted EBITDA achievement. The 2024 target bonus for Dr. Coffman was 75% of his annual base salary, for Drs. Abdou and Bacchus were 100% of their respective annual base salaries, for Mr. Pedersen was 50% of his annual base salary, and for Mr. Kavthekar was 75% of his annual base salary. Based on the achievement of these goals, our named executive officers did not earn a bonus for 2024, other than Mr. Kavthekar, who received a $35,000 spot bonus in July 2024. Equity-Based Compensation We maintain the 2021 Incentive Award Plan (the “2021 Plan”), in order to facilitate the grant of cash and equity incentives to directors, employees (including our named executive officers) and consultants of our Company and certain of our affiliates and to enable us to obtain and retain services of these individuals, which is essential to our long-term success. In connection with Dr. Coffman’s appointment as Chief Executive Officer in May 2024, we granted 12,100,000 stock options (the “Coffman Option Award”) and 4,400,000 RSUs (both amounts as of prior to and not reflecting the Reverse Stock Split) to Dr. Coffman. Dr. Coffman’s stock options vest 25% on the first anniversary of the effective date of his