The Board of Directors has determined that facts discovered after the fact would have justified terminating President and CEO Martin J. Bonick for Cause effective June 2, 2026, due to his failure to fully disclose compensation received from third parties. Consequently, Ardent Health will discontinue remaining severance payments, including approximately $4.5 million in unpaid cash severance, and cancel all outstanding unvested performance-based restricted stock units. The company stated that no financial statements require revision or correction as a result of this determination but has reserved its rights to pursue further remedies against Mr. Bonick. Ardent Health operates as a healthcare services company managing hospitals and medical facilities.
