Matthew T. DiCanio

About Matthew T. DiCanio

Matthew T. DiCanio is President and Chief Financial Officer of Concentra Group Holdings Parent, Inc. (NYSE: CON). He is 42 (as of March 3, 2025), joined Concentra in 2015, became President in 2023 and CFO in 2024, and previously led Strategy & Corporate Development and the community-based outpatient center division (since divested). He holds a B.S. in Business Administration from the University of Richmond and an MBA in Finance & Economics from Columbia Business School; earlier career stops include Bank of America Merrill Lynch, a Dallas middle‑market investment bank (healthcare co‑head), and KPMG (CPA) .
Recent operating performance under the current leadership team shows double‑digit growth: Q3 2025 revenue +17.0% YoY to $572.8M and Adjusted EBITDA +17.1% YoY to $118.9M; Q3 EPS $0.38. From IPO (7/25/2024) to 12/31/2024, $100 invested in CON equated to $88.24 (company TSR) .

Selected performance snapshots

Metric	Period	Value
Revenue ($M)	Q3 2025	$572.8; +17.0% YoY
Adjusted EBITDA ($M)	Q3 2025	$118.9; +17.1% YoY
EPS (diluted)	Q3 2025	$0.38
Company TSR (value of $100)	IPO close to 12/31/2024	$88.24

Past Roles

Organization	Role	Years	Strategic Impact
Concentra	President & Chief Financial Officer	2024–present	Executive leadership over finance and operations during post‑IPO separation and M&A/de novo expansion .
Concentra	President	2023–2024	Drove operating initiatives across segments prior to CFO appointment .
Concentra	EVP (prior), SVP Strategy & Corporate Development	2015–2023	Led corporate strategy/M&A; oversaw community-based outpatient center division (since divested) 2016–2020 .
Dallas middle‑market investment bank	Principal & Co‑Head, Healthcare vertical	2012–2015	Advised healthcare transactions; sector coverage leadership .
Bank of America Merrill Lynch (NYC)	Investment Banker	2009–2012	M&A and financing execution .
KPMG, LLP	CPA	2004–2007	Audit/financial reporting foundation .

External Roles

Organization	Role	Years	Notes
—	—	—	No public company directorships or external board roles disclosed in Company filings for Mr. DiCanio .

Fixed Compensation

Component	2024	Notes
Base Salary	$550,000	President & CFO .
Target Bonus (MIP)	$550,000 target; $275,000 threshold	Plan based on EBITDA; linear interpolation between milestones .
Actual Bonus Paid – Discretionary (IPO)	$175,000	One‑time discretionary IPO‑related bonus .
Non‑Equity Incentive Plan Compensation (NEI)	$1,669,458	Reflects performance‑based cash programs; MIP paid at 75% of target for 2024 per plan disclosure; LTIP was accelerated (see below) .
All Other Compensation	$5,715 (401k match $5,175; group life $540)	Standard benefits.

Performance Compensation

Program	Metric(s)	Weighting	Target/Design	Actual Payout	Vesting/Payment Terms
Management Incentive Plan (MIP) – 2024	Company EBITDA (Adjusted EBITDA metric for 2024 plan design)	Company-level EBITDA‑based; committee discretion for unusual items	EBITDA milestones: min $378M to max $385M; linear interpolation; discretionary above max	75% of target for 2024 plan year (companywide)	Paid following year per plan .
Management Incentive Plan – 2025	Adjusted EBITDA and EPS	Not disclosed	Mix adds EPS beginning 2025	Not disclosed	Paid following year .
Long‑Term Cash Incentive Plan (LTIP)	Per‑interest equity value (2‑year performance cycle)	N/A	Target set by “bonus units” tied to equity value	2024–2025 cycle accelerated and paid based on 12/31/2024 equity value; plan then terminated	Lump sum by Mar 31 following performance period; accelerated to 12/31/2024 for cycle .
Equity – Restricted Stock (Annual)	Time‑based retention (4 equal annual tranches)	N/A	Annual grants under 2024 Plan	Ongoing time‑based vesting	25% each year on grant anniversaries; pro‑rata vesting upon death/disability or termination following change in control .

Equity Awards (detail)

Grant Type	Grant Date	Shares	Fair Value	Vesting	Notes
Restricted Stock (RSA)	Nov 26, 2024	180,000	$4,156,200 (180,000 × $23.09)	25% on each of first four anniversaries	Pro‑rata vesting on death/disability or termination following change in control .
Restricted Stock (RSA)	Nov 4, 2025	180,000	Not disclosed	25% on each of first four anniversaries	Annual cycle under 2024 Plan .
Options/Stock SARs	—	—	—	—	Company did not grant options/SARs in 2024 .

Vesting cadence and potential selling pressure: Mr. DiCanio has overlapping annual time‑based RSA tranches of 45,000 shares per grant year starting on each grant’s first anniversary. However, executives are prohibited from selling shares received upon vesting for one year post‑vesting (net of tax withholding), tempering near‑term selling pressure .

Equity Ownership & Alignment

Item	Detail
Beneficial Ownership	180,000 shares as of March 1, 2025; less than 1% of outstanding (128,171,952 shares) .
Unvested vs Vested (12/31/2024)	Unvested restricted stock: 180,000 shares (market value $3,560,400 at $19.78) .
Ownership Guidelines	President & CFO required to hold stock equal to 3.0× base salary; 3‑year compliance window .
Anti‑Hedging / Pledging	Hedging prohibited; no pledging policy disclosure in filings; no pledges disclosed in ownership table .
One‑Year Post‑Vesting Holding	Executives prohibited from selling shares acquired on vesting for one year, net of taxes .
Apparent Guideline Compliance (indicative)	Holdings as of 12/31/2024 valued at ~$3.56M (180,000 × $19.78) vs 3× salary requirement of $1.65M (3 × $550k) → appears to exceed minimum at that date .

Employment Terms

Term	Provision
Employment history	Joined Concentra 2015; President since 2023; CFO since 2024 .
Severance – without cause	18 months of base salary + any earned but unpaid prior‑year bonus; subject to release and covenants .
“Good reason” resignation	Eligible if material reduction in role/responsibilities or salary; relocation >50 miles; and uniquely for Mr. DiCanio, upon a change in control (resignation right) .
Change in Control definitions	Cross‑referenced to 2024 Equity Incentive Plan per May 2025 amendment .
Equity acceleration	Pro‑rata vesting of unvested RSAs upon death/disability or upon termination of employment following a change in control .
Non‑compete / Non‑solicit	Two‑year post‑employment restrictions (NEOs generally) .
Clawback policy	Compliant with NYSE/Rule 10D‑1; recovers erroneously awarded incentive‑based comp after restatement .
Anti‑hedging	Hedging prohibited for all employees/directors .

Compensation Structure (multi‑year summary)

Year	Salary ($)	Discretionary Bonus ($)	Stock Awards ($)	Non‑Equity Incentive ($)	All Other ($)	Total ($)
2024	550,000	175,000	4,156,200	1,669,458	5,715	6,556,373
2023	495,192	—	—	645,000	496,219	1,636,411
2022	362,500	—	—	506,250	462,256	1,331,006

Notes: 2024 introduces significant time‑based equity as part of the first post‑IPO annual grant; MIP paid at 75% of target for 2024; LTIP was accelerated and terminated after the fiscal 2024 payment .

Performance & Track Record

CFO commentary highlights execution on separation from Select Medical, M&A/de novo growth, and technology investments; 2025 Q3 revenue, net income, Adjusted EBITDA grew YoY; leverage reduced to 3.6x .
On Q2 2025 call, Mr. DiCanio guided that back‑half performance should align closer to year‑to‑date averages; EBITDA margins burdened by integration costs/public company costs, with margin improvement expected as synergies flow through .
Visit trends and pricing/rate increases underpin growth; leadership frames exposure to macro hiring as limited due to reimbursement increases and staffing controls .
Pay‑versus‑performance disclosure shows 2024 “compensation actually paid” and TSR metrics for the initial partial year post‑IPO; the company uses Adjusted EBITDA as the most important performance measure in 2024 .

Compensation Committee & Governance Highlights

Stock ownership guidelines: 3× base salary for President & CFO; one‑year post‑vesting sale restriction supports alignment .
Clawback policy compliant with NYSE Rule 10D‑1; anti‑hedging policy in place .
No tax gross‑ups or SERP; bonuses not guaranteed; options repricing prohibited without shareholder approval .
No compensation consultant used in 2024; committee emphasizes pay‑for‑performance with EBITDA/EPS focus .

Investment Implications

Alignment: Large time‑based equity (180k shares in 2024 and 180k in 2025) with multi‑year vesting and a one‑year post‑vesting sale lock creates meaningful retention and reduces near‑term selling pressure; ownership appears to exceed 3× salary guideline as of 12/31/2024, aligning incentives with shareholders .
Retention risk / Change‑in‑control: Mr. DiCanio’s ability to resign and receive severance upon a change in control (unique to him among listed NEOs) is a shareholder‑watch item—beneficial for retention pre‑deal, but a potential single‑trigger severance cost if a transaction occurs; equity acceleration requires termination following a change in control (double‑trigger for RSAs) .
Pay‑for‑performance: Annual cash bonus remains tightly linked to EBITDA (and adds EPS in 2025), while the now‑terminated LTIP was tied to equity value—together signaling emphasis on profitable growth and per‑share outcomes; 2025 operating updates suggest continued growth and synergy capture post‑acquisitions .
Trading signals: Expect annual vesting tranches of ~45k shares starting late 2025/2026 per grant, but the one‑year post‑vesting sale restriction limits immediate float impact; monitor Form 4s around post‑vest one‑year anniversaries and blackout windows for potential selling windows .

Sources: 2025 DEF 14A (filed Mar 18, 2025), 2025 10‑K (filed Mar 3, 2025), Q1 2025 10‑Q (employment agreement amendment), Q2 2025 earnings call transcript (Aug 8, 2025), and 8‑Ks (Nov 6 & Nov 10, 2025) – .