Ryan Solomon
About Ryan Solomon
Ryan T. Solomon, age 45, has served as Chief Financial Officer of Enhabit (EHAB) since December 9, 2024, bringing 20+ years of finance and strategy experience, including CFO roles at Aspirion, AccentCare, and Apple Leisure Group, with earlier finance roles at Alcon Laboratories and American Airlines . Enhabit’s 2024 consolidated net revenue was $1,034.8 million and Adjusted EBITDA was $100.1 million (up 2.6% YoY), and the Senior Management Bonus Plan (SMBP) paid out at 25% of target based on quality metrics despite EBITDA below threshold—providing initial performance context for Solomon’s tenure starting Q4 2024 .
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| Enhabit (EHAB) | Chief Financial Officer | Dec 2024–present | Oversees FP&A, accounting, tax, treasury, revenue cycle, corp dev, internal audit |
| Aspirion | Chief Financial Officer | Oct 2023–Nov 2024 | Technology-enabled RCM; finance operations leadership |
| AccentCare | Chief Financial Officer | Feb 2020–Oct 2023 | Led finance and operations functions; systems integration, M&A experience |
| Apple Leisure Group | Roles culminating in CFO | Jan 2018–Feb 2020 | Multi-billion hospitality conglomerate; strategic finance leadership |
| Alcon Laboratories | Finance/strategic planning roles | N/A | Progressive finance roles |
| American Airlines | Finance/strategic planning roles | N/A | Progressive finance roles |
External Roles
No public company board roles or external directorships disclosed .
Fixed Compensation
| Component | Detail | Value |
|---|---|---|
| Annual base salary | As CFO | $500,000 |
| Target annual bonus | % of base | 70% ($350,000 target) |
| Target annual LTI | % of base | 125% ($625,000 target) |
| New hire cash bonus | Lump sum, clawback | $300,000; subject to two-year clawback if voluntary departure w/o good reason or termination for cause |
| New hire RSU award | Grant date, vesting | $1,000,000 grant value; granted Dec 9, 2024; vests 50% on 12/9/2025, 25% on 12/9/2026, 25% on 12/9/2027 |
Performance Compensation
2024 SMBP (Annual Incentive)
| Metric | Weight | Target | Actual | Payout outcome | Vesting/Payment |
|---|---|---|---|---|---|
| Adjusted EBITDA | 80% | Not disclosed | $100.1m; below threshold | 0% of target on this component | Paid in fully vested shares in early 2025 (one-year holding) |
| Quality Scorecard (4 metrics equally weighted) | 20% | See plan | 13.7% acute hospitalization, 5.5% hospice revocation, 81.4% HH experience, 87.1% hospice experience; each achieved 200% | Capped at 150% for quality component → 30% weighted; then negative discretion -5% = 25% total payout | Paid in stock; Solomon received 910 shares for 2024 SMBP, pro-rated |
| 2024 SMBP Result | Base Salary | Target Bonus % | Target Bonus $ | Earned (25%) $ |
|---|---|---|---|---|
| Ryan T. Solomon | $500,000 | 70% | $350,000 | $7,292 (pro-rated) |
2024 RSU and PSU Structure
- RSUs: Time-based; standard RSUs vest in three equal annual tranches; Solomon’s new-hire RSU vests 50%/25%/25 on the first, second, and third anniversaries of 12/9/2024 .
- PSUs: Performance-based over a three-year period (2024–2026) tied to adjusted free cash flow per share (FCFPS) averaged over three one-year periods (goals set each year) and relative TSR versus the S&P Healthcare Services Select Industry Index; earned shares determined at end of the 3-year period; rTSR percentile ranking approach specified; weights noted but specific percentages not disclosed in the excerpt .
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Beneficial ownership (as of 4/22/2025) | 146,099 shares; less than 1% of class (outstanding shares 50,637,417) |
| Outstanding unvested stock awards | 114,286 RSUs unvested; market value $892,574 at $7.81 per share (12/31/2024) |
| Options (exercisable/unexercisable) | None disclosed for Solomon |
| Ownership guidelines | CFO required ownership = 3x annual base salary; five-year grace period; NEOs either compliant or within grace period |
| Hedging/pledging | Prohibited; company policy forbids hedging and pledging of company stock |
| 2024 vest/settlement activity | SMBP paid in fully vested shares (Solomon 910 shares) with one-year holding period |
Employment Terms
| Term | Provision | Notes |
|---|---|---|
| Start date | Effective Dec 9, 2024 | Appointment announced Nov 7, 2024 |
| Restrictive covenants | Confidentiality, non-compete, non-solicit; 12 months post-termination | Per Restrictive Covenants Agreement |
| Severance Plan | 1.75x base salary; 12 months medical/dental/vision benefits continuation | Lump-sum, release required; prorated vesting of time-based awards; performance awards prorated based on actual achievement |
| Change-in-Control Plan | Double-trigger vesting; lump-sum = highest base salary in past 3 years + average actual bonus (past 3 years) multiplied by multiplier; benefits continuation; prorated annual incentive | Replacement award mechanics; PSU conversion to time-based; no tax gross-ups; 24-month CIC window |
| Clawback policies | Dodd-Frank compliant clawback plus supplemental misconduct recoupment (includes time-based and performance-based awards) | Strong recoupment framework |
| Perquisites | None for execs; no tax gross-ups | Governance-aligned practices |
Potential Payments (as of 12/31/2024)
| Scenario | Cash Severance | Acceleration of Unvested Equity | Health & Welfare Benefits | Total |
|---|---|---|---|---|
| Without Cause or For Good Reason (no CIC) | $875,000 | — | — | $875,000 |
| Disability | — | $892,574 | — | $892,574 |
| Death | — | $892,574 | — | $892,574 |
| Retirement | — | — | — | — |
| Without Cause or For Good Reason (in connection with CIC) | $1,487,500 | $892,574 | — | $2,380,074 |
Investment Implications
- Alignment: Pay mix places significant compensation at risk via annual SMBP and PSUs; RSU new-hire award and ownership guidelines (3x salary for CFO) reinforce skin-in-the-game while hedging/pledging prohibitions reduce misalignment risk .
- Retention risk: Strong severance (1.75x base) and double-trigger CIC protection, a $300k new-hire bonus with a two-year clawback, and a large RSU vesting 50% in Dec 2025 create near-term retention incentives; non-compete/non-solicit for 12 months adds friction to exit .
- Performance linkage: 2024 SMBP paid out at 25% due to EBITDA below threshold despite strong quality outcomes—signals Compensation Committee discipline and negative discretion in weaker financial years; PSUs hinge on FCFPS and rTSR vs a healthcare index, aligning equity with cash generation and market-relative performance over 2024–2026 .
- Trading signals: RSU vesting at the first anniversary (Dec 9, 2025) introduces potential supply from tax-withholding shares and liquidity needs; no options outstanding for Solomon reduces incentive to time exercises; beneficial ownership as of April 2025 is 146,099 shares, indicating material exposure yet below 1% of the float .
- Governance quality: No perquisites, no tax gross-ups, robust clawbacks, independent comp consultant engagement, and say-on-pay approval >88% in 2024 support shareholder-friendly posture, mitigating pay inflation and governance risks .
Overall, Solomon’s package balances retention and alignment with rigorous performance gates; near-term RSU vesting and pro-rated 2024 SMBP in stock point to equity-first design, while CIC double-trigger and clawbacks reduce agency risk. Continued delivery on EBITDA/FCFPS will be key for PSU outcomes and value creation during his tenure .