Brad Coppens
About Brad Coppens
Brad Coppens (age 43) has served on AdaptHealth’s board since July 2020; he is a Senior Partner at InTandem Capital Partners with ~20 years focused on healthcare services private equity, previously a Senior Managing Director at One Equity Partners, and began his career in JPMorgan’s M&A investment banking group. He lived in São Paulo from 2012–2014 leading OEP’s investing efforts in the region and holds a B.B.A. with high distinction from the University of Michigan (Ross). The Board has determined Coppens is independent under Nasdaq rules .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| InTandem Capital Partners | Senior Partner | Current (as of Apr 30, 2025) | Identifies, evaluates, executes healthcare services investments |
| One Equity Partners | Senior Managing Director | Prior to InTandem; 2012–2014 led Brazil | Numerous healthcare and tech-enabled services investments; led investing in São Paulo region |
| JPMorgan (Investment Banking) | Analyst/Associate – M&A | Prior | Focused on healthcare and other industries |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| AdaptHealth Corp. | Director | Since July 2020 | Audit Committee member; Compensation Committee Chair |
| BeBright; HouseWorks; Vivo Infusion; Providence Care | Director/Board Member | Current | Healthcare services boards (company types not specified) |
| The TEAK Fellowship | Board Member | Current | Non-profit board |
| Prior boards (select) | Director | Prior | AMT/RestorixHealth, Ernest Health, OneLink, ResultsCX, Allied, Cless Cosméticos, Portal de Documentos, Prodigy Health Group, Simplura Health Group, Systagenix Wound Management, Unicoba, Wow! Nutrition, X-Rite |
Board Governance
- Independence: Board determined Coppens is independent; Audit and Compensation Committees are fully independent .
- Committee assignments: Audit Committee member; Compensation Committee Chair; Audit met 5x in 2024; Compensation met 5x in 2024 .
- Board attendance: The Board met 9 times in 2024; no incumbent director attended fewer than 75% of board and applicable committee meetings .
- Board structure reforms: Declassification by the 2026 annual meeting; potential Lead Independent Director role if Chair is not independent; resignation policy for directors receiving more “Withheld” than “For” votes; proxy access bylaw amendments (as part of Securities Settlement) .
- 2025 election results (signal of investor support):
Nominee For Withheld Broker Non-Vote Brad Coppens 71,068,723 41,114,870 14,314,696 Terence Connors 71,316,416 40,867,177 14,314,696 Ted Lundberg 77,247,690 34,935,903 14,314,696 Dr. Susan Weaver 101,119,825 11,063,768 14,314,696 David Williams III 99,010,198 13,173,395 14,314,696 Dale Wolf 77,985,396 34,198,197 14,314,696
Fixed Compensation
| Component (2024) | Amount ($) | Notes |
|---|---|---|
| Annual cash retainer | 100,000 | Standard non-employee director cash retainer |
| Committee cash fees (membership) | 20,000 | Fees for service on certain committees (Audit member fee is $20k) |
| Total cash fees earned | 120,000 | As reported for Coppens in 2024 |
Performance Compensation
| Equity Award (2024) | Shares | Grant Approval Date | Vesting | Fair Value ($) |
|---|---|---|---|---|
| Annual restricted stock grant | 15,629 | June 24, 2024 | 100% at the 2025 annual meeting | Included in total stock award value |
| Additional RS for Compensation Chair | 1,894 | June 24, 2024 | 100% at the 2025 annual meeting | Included in total stock award value |
| Total stock awards (Coppens) | — | — | — | 178,034 (aggregate grant-date fair value) |
Director equity is time-based restricted stock; no performance-conditioned director equity metrics are disclosed .
Other Directorships & Interlocks
| Designating Holder/Agreement | Designee on AHCO Board | Affiliation | Notes |
|---|---|---|---|
| Deerfield Subscription Agreement | Dr. Susan Weaver | Deerfield | Right to designate one director at Business Combination closing |
| BlueMountain Board Designee Rights Letter | Dale Wolf | BlueMountain Capital | Right to designate one director via BM Notes holders |
| OEP Investment Agreement | Initial: Brad Coppens; current: Gregory Belinfanti | One Equity Partners | OEP right to designate while holding ≥25% of purchased stock; OEP’s sole current designee is Belinfanti |
| AeroCare Merger Agreement | Ted Lundberg | Peloton Equity (AeroCare Sellers) | Right to nominate while AeroCare Sellers hold ≥35% of issued share consideration |
Expertise & Qualifications
- Private equity investor with deep healthcare services focus; extensive board experience across healthcare and tech-enabled services .
- International investing leadership (Brazil) and M&A execution background at JPMorgan .
- Education: B.B.A., University of Michigan Ross, high distinction .
Equity Ownership
| Holder | Shares Beneficially Owned | % of Shares Outstanding |
|---|---|---|
| Brad Coppens | 56,000 | <1% (star per proxy convention) |
- 2024 director RS grants to non-employee directors: 15,629 shares, plus 1,894 additional shares for Compensation Committee chair (Coppens), vesting at the 2025 annual meeting .
- Insider Trading Policy prohibits pledging, short sales, options trading, margin, and hedging for directors and officers (no exemptions previously granted) .
Insider Trades and Section 16 Compliance
| Person | Late Section 16 Filings (2024) |
|---|---|
| Brad Coppens | None reported |
| Richard Barasch | Late on one Form 4 (one transaction) |
| Albert Prast | Late on one Form 4 (one transaction) |
| David Williams III | Late on one Form 4 (one transaction) |
Governance Assessment
- Strengths and positive signals:
- Independent director; chairs a fully independent Compensation Committee that engages an independent compensation advisor (ClearBridge) and oversees pay-for-performance design, clawback policy, and equity plan governance .
- Board-level governance reforms (declassification by 2026, proxy access, potential Lead Independent Director, resignation policy) enhance accountability and shareholder rights .
- Strong 2024 say-on-pay support; in 2025, advisory say-on-pay passed with 105,733,612 votes “For” vs 6,409,613 “Against” .
- Risk indicators and potential red flags:
- Elevated “Withheld” votes in 2025 for Coppens (41.1M withheld vs 71.1M for), notably higher withheld than for several peers (e.g., Weaver and Williams), signaling investor scrutiny of his role/committee leadership; resignation policy would apply only if withheld exceeded for, which did not occur .
- Historical OEP designation: Coppens was OEP’s initial designee; although now deemed independent and OEP’s current designee is Belinfanti, dual private equity affiliations on the board (OEP, Peloton, BlueMountain) warrant monitoring for related-party considerations; Audit Committee reviews related-party transactions under established policy .
- Administrative control: Company corrected a $17,500 overpayment of committee fees to Coppens in April 2024 via a reduction in amounts payable, indicating remediation of a compensation administration error .
Overall: Coppens brings deep healthcare PE and board experience, chairs compensation with independent advisor support, and is classified independent. The elevated withheld vote in 2025 and PE-linked board composition merit ongoing monitoring of committee decisions, director engagement, and any related-party dealings, though formal policies and committee oversight are in place .