Tomas Orozco
About Tomas Orozco
Tomas Orozco, 49, serves as Executive Vice President at NeueHealth; he has held this role since November 2023 after serving as CEO of subsidiary Centrum Medical Holdings beginning August 2021, with prior senior leadership roles at Elevance Health overseeing Medicare across the East Coast and Florida Medicare Advantage operations . Company performance context during his tenure shows cumulative TSR on a $100 investment declining to 0.56 by year-end 2024, alongside net losses of $160.0 million in 2024, framing a pay-for-performance environment and retention focus for executives . Following the October 2, 2025 take‑private transaction led by NEA, Orozco continued as an officer of the surviving private company, with legacy RSUs assumed and maintained on original vesting terms .
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| NeueHealth (Centrum Medical Holdings, LLC) | Chief Executive Officer (Centrum) | Aug 2021–Nov 2023 | Led operations of a subsidiary clinic platform (Centrum identified as a subsidiary business) |
| Elevance Health | Regional President, Medicare (East Coast) | Aug 2017–Jan 2021 | Oversaw Medicare line of business across the East Coast |
| Elevance Health | President, Florida Medicare Advantage | Not disclosed | Led Florida Medicare Advantage operations |
| MBF Healthcare Partners portfolio companies | Senior executive roles at portfolio health plans | Not disclosed | Senior leadership across plan operations |
External Roles
- None disclosed .
Fixed Compensation
| Metric | FY 2023 | FY 2024 |
|---|---|---|
| Base Salary ($) | 663,125 | 666,250 |
| Target Bonus (% of Base) | 50% | 50% |
| Actual Bonus Paid ($) | 472,477 | 1,123,688 |
| Stock Awards (Grant-date fair value, $) | 451,799 | 1,575,000 |
| All Other Compensation ($) | — | 3,200,000 (RRD profits interest cancellation recorded under ASC 710) |
| Total Compensation ($) | 1,587,401 | 6,564,938 |
Notes: 2024 “Bonus” includes AIP cash awards plus a supplemental cash bonus in lieu of part of long-term equity due to limited plan shares; the Compensation Committee set the company performance factor at 100% of target (paid Jan 2025/March 2025) . The $3.2M “All Other Compensation” relates to cancellation of legacy profits interests in RRD tied to the Centrum consolidation; cash paid $400k (Mar 2025), $400k (by Dec 31, 2025), $2.4M (by Oct 29, 2028) .
Performance Compensation
Annual Incentive Plan (AIP) – FY 2024
| Component | Metric | Weighting | Target | Actual | Payout Timing | Vesting |
|---|---|---|---|---|---|---|
| AIP Cash | Company execution vs operating plan; company performance factor determined | Not disclosed | 50% of base salary | Performance factor approved at 100% of target; individual awards discretionary; supplemental cash awarded in lieu of equity (capped at 100% of target) | Paid Jan 2025 (AIP) and Mar 2025 (supplemental cash) | N/A |
Equity Awards Details (Outstanding at 12/31/2024; market price $7.42)
| Award Type | Grant Date | Shares/Units | Market/Fair Value ($) | Vesting Schedule | Status |
|---|---|---|---|---|---|
| RSU | 3/7/2022 | 2,327 | 17,266 | 1/3 annually on 1st, 2nd, 3rd anniversaries (service-based) | Unvested at 12/31/2024 |
| RSU | 1/3/2023 | 3,971 | 29,465 | Vests on 2nd anniversary of grant (service-based) | Unvested at 12/31/2024 |
| RSU | 3/6/2023 | 4,981 | 36,959 | 1/3 annually (service-based) | Unvested at 12/31/2024 |
| RSU (2024 annual grant) | 5/6/2024 | 72,000 | 534,240 | 1/3 annually (service-based) | Unvested |
| PSU (price hurdle) | 5/6/2024 | 180,000 | 1,335,600 | Vests upon achieving share price goals; if achieved before June 28, 2027 and employment through date; otherwise vests upon achievement after that date | Price goal not achieved as of 12/31/2024 |
Options: No option awards disclosed for Orozco; RSUs and PSUs constitute long-term incentives .
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Beneficial Ownership | 29,325 shares of common stock; <1% of shares outstanding |
| Ownership Guidelines | 3× base salary for executive leadership team; if not compliant, retain at least 50% of net shares delivered through equity plans |
| Pledging/Hedging | Hedging prohibited; pledging requires pre-clearance; no pledges by executive officers in 2024 |
| Unvested RSUs | See Performance Compensation table for grant-by-grant counts and values |
| Unearned PSUs | 180,000 units; market value $1,335,600 at 12/31/2024; price goal not met |
Employment Terms
| Term | Provision |
|---|---|
| Employment Agreement | Effective August 9, 2021; initially served as CEO of Centrum (subsidiary), EVP of NeueHealth since 2023 |
| Base Salary | $650,000 (may be increased at Board discretion) |
| Target Bonus | 50% of annual base salary; actual amount determined by Board under AIP |
| Severance (without Cause or for Good Reason) | 18 months of then-current base salary plus any annual bonus that would have been earned for the year of termination; paid in installments over 18 months, subject to release and compliance |
| Definitions | Cause/Good Reason defined in agreement (felony/fraud, fiduciary breach, refusal to follow direction, code violations; Good Reason includes breach, relocation >30 miles, material reduction in authority/salary) |
| Change-in-Control Outcome (2025) | After NEA-led merger (closed Oct 2, 2025), Orozco continued as officer; RSUs were assumed by Parent with same terms; options across the company cash-settled or canceled depending on strike vs $7.33 consideration |
| Clawback | Company incentive compensation clawback policy for current/former executive officers upon financial restatement |
| Insider Trading Policy | Hedging prohibited; pledging requires pre-clearance |
| Profits Interest Cancellation | $3,200,000 consideration tied to cancellation of RRD profits interests: $400k paid Mar 2025, $400k due by Dec 31, 2025, $2.4M due by Oct 29, 2028; recorded as compensation under ASC 710, though Company does not consider it compensation to Orozco |
Investment Implications
- Pay mix shifted materially toward equity and retention-related cash in 2024: RSU/PSU grants increased (fair value $1.575M) with supplemental cash replacing a portion of equity due to share limitations, while the company set AIP performance factor at 100% of target—this aligns incentives to stock and operational execution but introduces scheduled vest events that can create selling windows on annual anniversaries (2025–2027) and at the PSU price hurdle before/after June 28, 2027 .
- Insider selling pressure near vesting dates may be moderated by stock ownership guidelines requiring retention of 50% of net shares if not yet compliant, and by the October 2025 take‑private treatment (RSUs assumed and maintained), which reduced immediate liquidity from equity awards post‑transaction .
- Alignment: Direct ownership is modest at 29,325 shares (<1%); however, substantial unvested RSUs/PSUs create strong retention hooks and equity-driven alignment, with hedging prohibited and no pledging reported in 2024—reducing misalignment risk .
- Severance economics (18 months base + the year-of termination bonus) present standard retention protection without excessive change-in-control accelerators specific to Orozco; the broad equity plan mechanics allow acceleration for time-based awards under certain CIC scenarios for eligible executives, but Orozco’s 2025 outcome preserved RSU terms and officer status—suggesting continuity and reduced near-term turnover risk .