Tag: Jason Zachariah

Kindred’s Zachariah gets $220K in stock with promotion to rehab president

Jason Zachariah
Zachariah

Jason Zachariah received 20,000 Kindred shares yesterday as the hospital and nursing home giant announced his promotion to president of Kindred Rehabilitation Services, according to a Securities and Exchange Commission notice this morning.

The shares are in the form of restricted stock units that vest in equal annual installments over three years starting a year from yesterday. Based on yesterday’s $11.01 closing price, the shares are worth $220,000. Zachariah already owned 20,980. It’s common for executives to get bonuses for big promotions. By vesting the shares over several years, a company encourages the employee to stay and also ties their compensation to the company’s overall performance.

Zachariah replaced Jon Rousseau, who is leaving the company to pursue other interests, Kindred said. Rousseau joined Kindred three years ago and was president of KRS since April 2015.

In a separate filing, Rousseau told the SEC he’d given up 24,900 shares without compensation, a stake he presumably walked away from when he quit; the Form 4 document didn’t explain the transaction, however. Rousseau still had 24,433 shares remaining, the document said.*

Zachariah’s elevation and Rousseau’s departure were effective immediately, the company said. Zachariah started at the Louisville hospital and nursing home giant in 2006.

Kindred employs about 2,200 employees in Louisville; it has about 102,000 employees in total. More about Kindred’s operations.

* (At the time he joined the company, Rousseau told the SEC he’d been awarded 35,000 restricted stock units, which were to vest in equal annual installments over three years by July 30 this year — two weeks ago. Attentive readers will notice a discrepancy in all these figures for Rousseau. Without getting too far into the weeds and boring readers to death, Boulevard notes Rousseau also was awarded 14,000 RSUs when he was promoted to rehab president in spring 2015.)

Kindred promotes Zachariah to head of rehabilitation services; and UPS CEO Abney urges Congress to pass new Asia trade pact

A news summary focused on 10 big employers; updated 7 p.m.

KINDRED: Jason Zachariah‘s appointment as president of Kindred Rehabilitation Services is effective immediately. He was previously chief operating officer of Kindred Hospital Rehabilitation services since July 2013. He started at the Louisville hospital and nursing home giant in 2006.

Jason Zachariah
Zachariah

In his new role, Zachariah also joins Kindred’s top-level executive committee, the company said in a press release. Here are all the executive officers.

He succeeds Jon Rousseau, who is leaving the company to pursue other interests, Kindred said. Rousseau joined Kindred in July 2013 and was president of KRS since April 2015.

Kindred COO Kent Wallace praised Rousseau in a statement, suggesting his exit was at least partly amicable. “We thank Jon for his tireless dedication and the strategies he implemented that helped us expand KRS,” Wallace said.

Zachariah’s promotion was announced after stock markets closed. Kindred’s shares closed at $11.06, up 4 cents.

Kindred employs about 2,200 employees in Louisville; it has about 102,000 employees in total. More about Kindred’s operations.

David Abney
Abney

UPS CEO David Abney is pushing Congress to pass a new Asian trade agreement by the end of the year, saying in an interview that if the U.S. doesn’t act now it will be left behind, as Asian nations sign their own deals. UPS and FedEx executives have become more outspoken on free trade in recent weeks as President Obama’s signature Trans-Pacific Partnership agreement looks unlikely to win congressional passage either after the November elections, or under the next administration (Wall Street Journal).

Abney was appointed CEO in 2014, and is the 11th in the 108-year history of UPS. The shipper is Louisville’s single-biggest private employer, with 22,000 workers. More about UPS’ Louisville operations.