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Get filing alertsagilon health names Tim O'Rourke CEO with equity tied to $50-$150 stock price targets
Filed April 27, 2026 · Period ending April 24, 2026 · ~1 min read
Key Changes
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Tim O'Rourke appointed CEO and President effective May 7, 2026, bringing healthcare leadership experience from Help at Home, Centene, and Humana. He also joins the Board as a Class III director.
Item 5.02 verify on EDGAR → -
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O'Rourke receives 200,000 performance stock units vesting in thirds when stock hits $50, $100, and $150 over 30 consecutive trading days within three years—signaling board confidence in major upside.
Item 5.02: Employment Agreement verify on EDGAR → -
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Base compensation set at $850,000 salary plus 100% target bonus ($850,000) and $500,000 signing bonus, repayable if he leaves voluntarily or is terminated for cause within one year.
Item 5.02: Compensation verify on EDGAR → -
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O'Rourke also granted 120,000 time-based restricted stock units vesting equally over three years, standard for executive retention.
Item 5.02: Equity Grants verify on EDGAR → -
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Severance package provides 18 months salary plus target bonus ($1.7M total) if terminated without cause or resignation for good reason, with continued medical coverage.
Item 5.02: Severance verify on EDGAR →
Summary
agilon health has appointed Tim O'Rourke as its new Chief Executive Officer and President, effective May 7, 2026. O'Rourke brings deep healthcare industry credentials, having led Help at Home and held senior positions at Centene and Humana. The board simultaneously appointed him as a Class III director, consolidating leadership at the top. The compensation structure is notable for its aggressive performance targets.
While O'Rourke receives standard cash compensation ($850K base, $850K target bonus) and 120,000 time-vesting RSUs, the real story is the 200,000 performance stock units tied to stock price milestones of $50, $100, and $150. These targets represent substantial appreciation from current levels and vest only if the stock sustains those prices for 30 consecutive trading days within three years.
This pay-for-performance design aligns the new CEO's interests directly with shareholders and signals the board's confidence in a turnaround or growth trajectory. Retail investors should watch O'Rourke's first earnings call and any strategic announcements in his initial 90 days. The ambitious stock price targets suggest the board expects material operational improvements or strategic shifts that could drive significant value creation.
Section-by-Section Diff
Event · Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation
agilon health appointed Tim O'Rourke as CEO and President effective May 7, 2026, with $850K base salary and equity grants tied to stock price targets.
Added in current filing · verify on EDGAR →
On April 24, 2026, agilon health, inc. (the “Company”) entered into an Employment Agreement (the “Employment Agreement”) with Tim O’Rourke, pursuant to which Mr. O’Rourke will serve as the Company’s Chief Executive Officer and President, reporting to the Board of Directors (the “Board”). Mr. O’Rourke is expected to commence employment with the Company on May 7, 2026 (the “Commencement Date”). Effective as of the Commencement Date, the Board has also appointed Mr. O’Rourke to the Board as a Class III director.
The company hired Tim O'Rourke as its new CEO and President, starting May 7, 2026. He will also join the Board of Directors. O'Rourke previously led Help at Home and held senior roles at Centene and Humana, bringing extensive healthcare industry experience.
Show 1 minor / wording change
Added in current filing · verify on EDGAR →
If the Company terminates Mr. O’Rourke’s employment without cause or if Mr. O’Rourke resigns for good reason, each as customarily defined, Mr. O’Rourke will be entitled to cash severance pay equal to 18 months of base salary plus an amount equal to his target annual bonus opportunity, payable in substantially equal installments over 18 months following termination; and 18 months of continued medical coverage at active-employee rates.
If terminated without cause or if he resigns for good reason, O'Rourke receives 18 months of base salary plus target bonus (totaling $1.7 million) paid over 18 months, plus continued medical coverage. This provides downside protection but is standard for executive-level employment agreements.
Event · Item 7.01 — Regulation FD Disclosure
Item 7.01 — Regulation FD Disclosure filed; see Key Changes for terms.
Added in current filing · verify on EDGAR →
On April 27, 2026, the Company issued a press release announcing the appointment of Mr. O’Rourke as the Company’s Chief Executive Officer and President and as a director.
agilon health disclosed the appointment of Mr. O'Rourke to serve as Chief Executive Officer, President, and as a member of the board of directors. This represents a leadership change at the highest executive level of the company.
Event · Item 9.01 — Financial Statements and Exhibits
agilon health filed an 8-K attaching a press release dated April 27, 2026, with no material event details disclosed in the body.
Added in current filing · view on EDGAR →
99.1 Press Release dated April 27, 2026.
The company attached a press release dated April 27, 2026, as Exhibit 99.1. The 8-K body does not disclose the content or subject matter of the press release, so the nature and materiality of the announcement cannot be determined from this filing alone.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jun 4, 2026 · How we verify