Christopher Hunter will join Acadia Healthcare April 11 as CEO and a member of the Franklin, Tenn.-based company's board. His base salary will be $1 million, and he'll also be eligible for a maximum cash bonus of 200 percent of his salary, according to a Securities and Exchange Commission filing.
Mr. Hunter, who previously served as president of Humana's Group, Military & Specialty Segment, will also receive time-based restricted stock units with a grant date value of $1 million and performance stock units with a target grant date value of $3.5 million.
Mr. Hunter is stepping into the position currently held by Debbie Osteen. Ms. Osteen was originally slated to retire by Jan. 31, but she entered into an agreement with Acadia to delay her retirement.
Ms. Osteen has agreed to provide transition advisory services to Acadia for $20,000 per month, according to the SEC filing.