AdaptHealth Corp.

AdaptHealth Corp. is investigating a material cybersecurity incident where a threat actor gained unauthorized access to its cloud-based business applications and exfiltrated data. The incident, determined to be material on June 27, 2026, involved a social engineering attack that compromised a third-party contractor's user session. Exfiltrated data includes a stored password file for insurance billing, personally identifiable information, and protected health information of patients. The company has contained the incident and is investigating its full scope, but as of the filing date, it has not materially impacted operations or patient servicing, and AdaptHealth maintains cybersecurity insurance.

AdaptHealth Corp. filed an amendment to its Form 8-K to correct the date of report for Daniel McFadden's appointment as Chief Operating Officer to May 4, 2026. In connection with his promotion, the Compensation Committee approved an increase to Mr. McFadden's annual base salary from $410,000 to $550,000, retroactive to the appointment date. He will also continue to be eligible for an annual incentive bonus with a target of 100% of his increased base salary. Additionally, Mr. McFadden received a one-time grant of restricted stock units valued at $464,110, with vesting tied to both time and the company's total shareholder return.

AdaptHealth Corp. announced its first quarter 2026 financial results, reporting a 5.4% increase in net revenue to $819.8 million, driven by 9.1% organic growth. However, the company's net loss widened to $16.0 million and Adjusted EBITDA decreased by 5.3% to $121.2 million, partly due to $12.0 million in elevated labor expenses from a major de novo expansion. Concurrently, the company terminated COO Toby Scott Barnhart and appointed Daniel McFadden as his successor. AdaptHealth also completed a $1.1 billion refinancing and divested its remaining custom rehabilitation assets, and raised its full-year 2026 net revenue guidance.

AdaptHealth Corp. announced its Annual Meeting of Stockholders will be held virtually on June 18, 2026, at 10:30 a.m. Eastern Time. Stockholders of record as of April 24, 2026, are invited to vote on the election of nine directors, the ratification of KPMG LLP as the independent auditor for fiscal year 2026, and an advisory vote on executive compensation. The board declassification process is now complete, meaning all directors elected will serve one-year terms.

AdaptHealth LLC, as the Borrower, along with AdaptHealth Intermediate Holdco LLC and certain subsidiaries, has entered into a new Credit Agreement. The agreement, dated April 10, 2026, establishes a new debt facility with a syndicate of banks, including Bank of America, N.A. as the Administrative Agent. This facility provides for various types of financing, including revolving loans, term loans, swing line loans, and letters of credit, which will support the company's ongoing financial needs.