Christopher Berry
DAVITAAbout Christopher Berry
Christopher M. Berry is DaVita Inc.’s Chief Accounting Officer (principal accounting officer). He joined as Group Vice President, Accounting on August 28, 2023, and succeeded to CAO no later than September 5, 2023; he holds a B.B.A. from the University of Louisiana Monroe and is a licensed CPA in Washington . He is 50 years old and is listed among the company’s executive officers in the 2025 proxy . During his tenure, DaVita delivered strong performance in 2023–2024, including 2024 stock price appreciation of 43%, operating income growth to $2,090 million, and robust free cash flow, underpinned by revenue-per-treatment growth and cost control .
Key company performance during Berry’s tenure
| Metric | 2023 | 2024 |
|---|---|---|
| Operating Income ($USD Millions) | $1,603 | $2,090 |
| Adjusted EPS ($) | $8.19 | $9.68 |
| Operating Cash Flow ($USD Millions) | $2,059 | $2,022 |
| Free Cash Flow ($USD Millions) | $1,236 | $1,162 |
| Stock Price Appreciation (%) | n/a | 43% |
Past Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| Sonder Holdings Inc. | Senior Vice President & Chief Accounting Officer | Aug 2022 – Aug 2023 | Also Interim Principal Financial Officer (Jan 2023 – Mar 2023) |
| Alaska Air Group, Inc. | Vice President, Corporate Controller & CAO | Feb 2017 – Apr 2022 | Senior accounting leadership |
| Alaska Air Group, Inc. | Managing Director, Accounting; Corporate Controller & Principal Accounting Officer | Feb 2014 – Feb 2017 | Accounting leadership |
| Alaska Air Group, Inc. | Managing Director, Investor Relations | Oct 2010 – Feb 2014 | Investor relations leadership |
| Alaska Air Group, Inc. | Director, Financial Reporting and Accounting | Mar 2005 – Oct 2010 | Financial reporting |
External Roles
No external public-company directorships were disclosed for Mr. Berry in DaVita’s 2024 or 2025 proxy statements .
Fixed Compensation
| Component | Amount/Terms |
|---|---|
| Initial Base Salary | $410,000 per year |
| Annual Bonus Eligibility (from 2024) | Up to $300,000; discretionary and performance-based |
| 2023 Bonus Guarantee | $205,000 for 2023 performance year |
| Initial Equity (LTI) | RSUs with grant-date fair value of $800,000; vests 50% on each of the 3rd and 4th anniversaries of grant, subject to continued employment |
| Restrictive Covenants | Non-competition, non-solicitation, and confidentiality required as a condition of employment |
Performance Compensation
Short‑term incentive (STI) program design (companywide structure that applies to executive officers)
| Metric | Weighting | Target | Actual/Payout | Vesting/Payment Timing |
|---|---|---|---|---|
| Financial: Adjusted Operating Income | Part of 70% financial mix | Not disclosed | Company reported 2024 NEO STI payouts of ~181%–185% of target (individual outcomes vary) | Annual cash after year-end |
| Financial: Adjusted Free Cash Flow | Part of 70% financial mix | Not disclosed | See above | Annual cash after year-end |
| Operational & sustainability objectives | 21% | Not disclosed | Not disclosed | Annual cash after year-end |
| Custom individual objectives | 9% | Not disclosed | Not disclosed | Annual cash after year-end |
Long‑term incentive (LTI) program design (company program; executives including CAO participate)
| Instrument | Weight | Performance Metric(s) | Payout Curve | Vesting |
|---|---|---|---|---|
| PSUs | 60% | 75% Adjusted EPS; 25% Relative TSR vs S&P Health Care Services Select Industry Index | 0%–200% of target shares | Multi‑year performance period; cliff vest at end |
| RSUs | 40% | Time‑based | n/a | For March 2024 grants: 50% vests on 3rd and 50% on 4th anniversaries |
Berry-specific initial RSU grant (from Offer Letter)
| Grant | Grant-Date Fair Value | Vesting |
|---|---|---|
| RSUs (initial LTI) | $800,000 | 50% on 3rd anniversary; 50% on 4th anniversary of grant date, subject to continued employment |
PSU goal rigor (context)
| PSU Cycle | Adjusted EPS Target Range | Relative TSR Target | Vesting Date |
|---|---|---|---|
| 2023–2025 PSUs | $18.97–$21.33 cumulative (target $20.13) | 55th percentile (10th–90th range, cap at target if absolute TSR negative) | 100% on March 15, 2026 |
Equity Ownership & Alignment
| Policy/Practice | Details |
|---|---|
| Share Ownership Policy (Executives) | Applies to all executive officers; threshold tied to base salary; in‑the‑money value of vested but unexercised options/SSARs counts for executives. As of Dec 31, 2024, each continuing NEO was in compliance (NEO multiples in proxy: CEO 6x; CFO/CLO/CCO 3x) . |
| Hedging & Pledging | Hedging prohibited for all; pledging prohibited for directors, executive officers, and all teammates VP and above . |
| Insider Trading Controls | Pre‑clearance by CLO for executive transactions (except approved Rule 10b5‑1 plans); quarterly blackout periods; company may impose additional blackouts . |
| Clawbacks | Two policies: (1) Dodd‑Frank/NYSE-compliant recoupment of excess incentive pay over prior 3 years after a restatement; (2) separate misconduct policy allowing recoupment (including cancellation of time‑ and performance‑based equity) up to three years of annual incentive compensation for significant misconduct by SVP+ . |
| Change‑of‑Control Terms (Equity) | Company uses “double‑trigger” change‑of‑control provisions in equity award agreements . |
Note: The 2025 proxy’s beneficial ownership table lists directors and named executive officers; Mr. Berry is not listed among NEOs and therefore no personal ownership amounts are disclosed in that table .
Employment Terms
| Term | Detail |
|---|---|
| Start and Role Transition | Joined as Group VP, Accounting on Aug 28, 2023; succeeded to CAO by Sep 5, 2023 . |
| Compensation Structure | Initial base salary ($410,000), initial RSU grant ($800,000), 2023 bonus guarantee ($205,000), eligible for discretionary annual bonus up to $300,000 beginning 2024 . |
| Restrictive Covenants | Non‑compete, non‑solicit, and confidentiality covenants required . |
| Program‑Level Protections | Company practices include double‑trigger equity vesting on change‑of‑control, limits on severance, no change‑of‑control tax gross‑ups, and no repricing of underwater options/SSARs . |
| Officer Certifications | Berry has served as principal accounting officer, signing SEC filings including 10‑Qs on Nov 7, 2023; Aug 6, 2024; Aug 5, 2025; and Oct 29, 2025 . |
Investment Implications
- Alignment and clawbacks: Executive ownership requirements, hedging/pledging prohibitions, and dual clawback policies materially align incentives and mitigate risk of value‑destructive behavior; equity awards are double‑trigger on change of control .
- Retention vs. selling pressure: Berry’s initial RSUs are back‑loaded (50% at each of the 3rd and 4th anniversaries), which defers potential supply and incentivizes continuity; first vest would be expected around 2026, depending on the grant date .
- Pay‑for‑performance linkage: Annual bonuses for executives are tied predominantly to Adjusted Operating Income and Adjusted Free Cash Flow, with additional operational/sustainability and individual objectives, and PSUs hinge on Adjusted EPS and Relative TSR, creating sensitivity to both execution and shareholder returns .
- Execution track record context: During Berry’s tenure as CAO, DaVita’s 2024 performance featured 43% stock appreciation, higher operating income, and strong free cash flow, reflecting operational strength and cost discipline; he is the company’s principal accounting officer on SEC filings, underscoring direct accountability for reporting quality .