Concentra Group Holdings Parent, Inc. filed an 8-K on November 9, 2026, disclosing leadership changes effective November 1, 2026, and new employment agreements for three executives, as well as restricted stock awards granted on November 3, 2026.

Key Highlights

  • New CEO: Matthew DiCanio assumed the role of President and Chief Executive Officer effective November 1, 2026, with an annual base salary of $785,000 and a target bonus of 125% of base salary.
  • Executive Chairman: William K. Newton transitioned from Chief Executive Officer to Executive Chairman of the Board, with an annual base salary of $550,000 and a target bonus of 85% of base salary.
  • New CFO: Tanner Newton began serving as Executive Vice President and Chief Financial Officer on November 1, 2026, with an annual base salary of $425,000 and a target bonus of 75% of base salary.
  • Severance terms: DiCanio and William K. Newton are each entitled to 24 months of continued base salary upon termination without cause, rising to 30 months for DiCanio in a change-in-control context; Tanner Newton receives 18 months, rising to 24 months.
  • Restricted stock grants: The Human Capital and Compensation Committee awarded restricted shares of common stock to named executive officers on November 3, 2026, vesting equally on each of the first four anniversaries of the grant date.
  • Board nomination commitment: While DiCanio serves as CEO, the Board will nominate him for election as a director at each applicable annual meeting of stockholders, according to the filing.

Concentra Formalizes Leadership Transition and Executive Compensation Agreements

According to the 8-K filed with the SEC on NYSE:CON, Concentra Group Holdings Parent, Inc. disclosed that its wholly owned subsidiary, Concentra Health Services, Inc. (CHSI), entered into amended and restated employment agreements with Matthew DiCanio and William K. Newton, and a new employment agreement with Tanner Newton, each effective November 1, 2026, and executed on November 4, 2026. The filing states that all three agreements were entered into by CHSI on behalf of itself and the Company.

The DiCanio Agreement provides that Mr. DiCanio will report directly to the Board and includes severance protections covering 24 months of continued base salary, pro rata bonus payments, Company-paid COBRA premiums for up to 18 months, and pro rata vesting of outstanding time-based equity awards upon termination without cause or resignation for good reason. If termination occurs in the window beginning three months before and ending 12 months after a change in control, the salary continuation period extends to 30 months and all unvested equity awards vest in full, the filing states.

The K. Newton Agreement runs through the date of the Company's 2027 annual meeting of stockholders and renews automatically for successive one-year terms. The filing specifies that William K. Newton's transition from CEO "is not a termination of employment or service for purposes of his outstanding equity awards" and "does not constitute 'Good Reason' under the K. Newton Agreement." Tanner Newton's agreement carries an initial one-year term, with severance provisions that increase in a change-in-control scenario. The filing notes that the full text of the employment agreements will be filed as exhibits to the Company's Annual Report on Form 10-K for the fiscal year ending December 31, 2026.

What Was Disclosed

Concentra Group Holdings Parent, Inc. reported an executive leadership transition effective November 1, 2026, formalized through three employment agreements executed November 4, 2026, and disclosed restricted stock awards granted to named executive officers on November 3, 2026, under its 2024 Equity Incentive Plan.