Stephen Griggs - May 8, 2023 Form 4 Insider Report for AdaptHealth Corp. (AHCO)

Role
Chief Executive Officer, Director
Signature
/s/ Christopher Joyce, as attorney-in-fact for Stephen Griggs***
Stock symbol
AHCO
Transactions as of
May 8, 2023
Transactions value $
-$1,645,566
Form type
4
Date filed
5/10/2023, 07:13 PM
Previous filing
Mar 13, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction AHCO Common Stock, par value $0.0001 per share ("Common Stock") Options Exercise $2.45M +559K +303.08% $4.38 744K May 8, 2023 Direct
transaction AHCO Common Stock Tax liability -$4.09M -345K -46.43% $11.86 398K May 8, 2023 Direct F1
holding AHCO Common Stock 3.58M May 8, 2023 See Footnote F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction AHCO Employee Stock Option (right to buy) Options Exercise $0 -559K -100% $0.00* 0 May 8, 2023 Common Stock 559K $4.38 Direct F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents a "net exercise" of outstanding stock options. The reporting person received 213,852 shares of Common Stock on net exercise of options to purchase 559,071 shares of Common Stock. The Company withheld 345,219 shares of Common Stock underlying the options for payment of the exercise price and tax withholdings.
F2 Securities held directly by the Stephen P. Griggs Revocable Trust.
F3 On December 1, 2020, the Issuer entered into an Agreement and Plan of Merger (the "Merger Agreement") with AH Apollo Merger Sub Inc., AH Apollo Merger Sub II Inc., Peloton Equity, LLC and AeroCare Holdings, Inc. ("AeroCare"). The effective time of the merger (the "AeroCare Merger") occurred on February 1, 2021, at which time the outstanding shares of the Common Stock and options to acquire Common Stock of AeroCare were converted into the right to receive, among other things, shares of the Issuer's Common Stock and Series C Preferred Stock and options to acquire Common Stock, respectively, pursuant to the Merger Agreement.
F4 Options were fully vested as of the effective time if the AeroCare Merger.

Remarks:

*** The Power of Attorney given by the reporting person was previously filed with the U.S. Securities and Exchange Commission on February 2, 2021 as an exhibit to the Form 3 filed by the reporting person with respect to the Issuer and is hereby incorporated by reference.