Jon Foster, who was recently promoted to executive vice president and COO of Nashville, Tenn.-based HCA Healthcare, will see a salary bump in connection with the new role, according to a Jan. 30 Securities and Exchange Commission filing.
The filing shows that Mr. Foster's annual base salary was increased from $918,596 to $1 million.
Additionally, the compensation committee of HCA's board of directors granted Mr. Foster a long-term equity incentive award with a total target grant date value of $3.75 million. A total of 50 percent of the target award will take the form of HCA stock that will vest over four years and the other half will be in the form of performance share units that will vest upon achievement of a cumulative, three-year earnings-per-share-goal, according to the filing.
Mr. Foster previously served as president of HCA's American Group. Before that, he was president for the HCA Healthcare Central and West Texas Division.
In October, HCA announced Mr. Foster's promotion as part of a reorganization that includes the formation of a third operating group.
He began his new role as executive vice president and COO of HCA on Jan. 1. He is the first COO of the company since January 2019, according to the Nashville Business Journal.
HCA operates 182 hospitals and more than 2,300 care sites in 20 states and the United Kingdom.