John Duggan
SELECT MEDICAL HOLDINGSAbout John F. Duggan
John F. Duggan is Executive Vice President, General Counsel and Secretary of Select Medical Holdings (SEM), appointed effective September 1, 2025, after serving as Executive Vice President and Deputy General Counsel since 2023; he is a 25‐year SEM veteran who progressed from Associate Counsel (2000–2002) to Vice President & Senior Counsel (2002–2007) and Senior Vice President & Senior Counsel (2007–2023) . He signed the Company’s September 2, 2025 Form 8‑K as the duly authorized officer, evidencing his current corporate authority and board-facing role . For company performance context during the most recent fiscal year, SEM reported 2024 net income of $296.7 million, EPS of $1.66, and a cumulative TSR value of $131.60 on a $100 investment since 12/31/2020 (vs. $84.80 for the peer index) .
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| Select Medical Holdings Corporation | Executive Vice President, General Counsel & Secretary | 2025–present | Executive officer overseeing legal and corporate governance; signed 8‑K announcing leadership changes |
| Select Medical Holdings Corporation | Executive Vice President & Deputy General Counsel | 2023–2025 | Senior legal leadership supporting corporate governance and transactions |
| Select Medical Holdings Corporation | Senior Vice President & Senior Counsel | 2007–2023 | Long-tenured senior counsel for corporate and operating matters |
| Select Medical Holdings Corporation | Vice President & Senior Counsel | 2002–2007 | Legal leadership at the corporate level |
| Select Medical Holdings Corporation | Associate Counsel | 2000–2002 | Early legal role at SEM (start of tenure) |
External Roles
No external directorships or outside roles are disclosed for Mr. Duggan in SEM’s 2025 proxy or the September 2, 2025 officer appointment 8‑K .
Fixed Compensation
No base salary, target bonus, or perquisite disclosures are provided for Mr. Duggan in the 2025 proxy or the September 2, 2025 officer appointment 8‑K .
Performance Compensation
No annual bonus metrics or payout terms specific to Mr. Duggan are disclosed. Company-wide, NEO bonuses in 2024 were tied to EPS and ROE (targets: EPS $1.88/$2.07 target/max; ROE 16.40%/17.22% target/max), but Mr. Duggan is not listed as an NEO in the 2025 proxy .
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Beneficial ownership (Common) | 149,575 shares, Direct (D) |
| Ownership % of SEM outstanding | 0.116% (149,575 ÷ 128,963,837 shares outstanding at 2/28/2025) |
| Options/derivatives | No derivative securities reported on Form 3 Table II as of 09/01/2025 |
| Restricted stock grants (outstanding) | 25,000 (granted 11/1/2021); 25,000 (granted 11/1/2022); 25,000 (granted 11/1/2023); 50,000 (granted 4/30/2024) |
| Vesting structure (time-based) | Each grant fully vests on 4th anniversary of grant date (see detailed schedule below); a special 1/3 vest occurred on 11/5/2024 due to Concentra spin-off |
| Concentra spin-off treatment | For unvested SEM restricted shares held on 11/5/2024, 1/3 accelerated vesting; award holders also received 0.806971 Concentra shares per unvested SEM restricted share, free of restrictions |
| Post-vesting sale restriction | Each executive officer is prohibited from selling/transferring shares received upon vesting for 1 year (net of shares used for taxes) |
| Anti-hedging | Hedging and derivative transactions in SEM stock are prohibited for employees and directors |
| Clawbacks | Company maintains (i) a general recoupment policy and (ii) a Rule 10D‑1 compensation recovery policy requiring recovery of erroneously awarded incentive-based pay after a restatement; applies to certain current/former executive officers |
Detailed Vesting Schedule and Potential Selling Pressure
| Grant date | Shares | Scheduled vesting | Special vesting (spin-off) | Notes |
|---|---|---|---|---|
| 11/1/2021 | 25,000 | Fully vests 11/1/2025 | 1/3 vested on 11/5/2024 | Time-based restricted stock |
| 11/1/2022 | 25,000 | Fully vests 11/1/2026 | 1/3 vested on 11/5/2024 | Time-based restricted stock |
| 11/1/2023 | 25,000 | Fully vests 11/1/2027 | 1/3 vested on 11/5/2024 | Time-based restricted stock |
| 4/30/2024 | 50,000 | Fully vests 4/30/2028 | 1/3 vested on 11/5/2024 | Time-based restricted stock |
- Near-term vesting catalysts: 11/1/2025 (2021 grant cliff vest); subsequent annual cliffs on 11/1/2026 and 11/1/2027; 4/30/2028 (2024 grant), all subject to continued service .
- Note: As an executive officer, Mr. Duggan is subject to a 1-year post-vesting hold, which moderates immediate selling pressure from these vesting events (net of tax withholding) .
Employment Terms
No employment agreement, severance, non‑compete, or change‑in‑control terms specific to Mr. Duggan are disclosed in the 2025 proxy or the September 2, 2025 8‑K; the proxy details such arrangements for other named executives only .
Performance & Track Record
- Tenure and progression: 25-year SEM veteran with successive promotions across legal leadership culminating in EVP, General Counsel & Secretary in 2025; prior roles include EVP & Deputy GC (2023–2025), SVP & Senior Counsel (2007–2023), VP & Senior Counsel (2002–2007), Associate Counsel (2000–2002) .
- Corporate actions and governance: Signed 8‑K announcing CEO transition and officer appointments on 9/2/2025, evidencing board-facing responsibility and disclosure leadership .
- Company performance snapshot (FY2024): Net income $296.7M; EPS $1.66; TSR value of $131.60 on $100 invested since 12/31/2020 (peer index $84.80) .
Governance & Shareholder Signals
- Say-on-pay: 2024 executive compensation program approved (For: 106,777,980; Against: 14,125,946; Abstain: 42,832; Broker non‑votes: 2,545,553), indicating strong support for compensation framework .
- Policies reinforcing alignment: Anti‑hedging policy; 1‑year post-vesting sale restriction for executive officers; dual recoupment/10D‑1 clawback framework .
Investment Implications
- Alignment and retention: Significant time-based restricted stock scheduled to vest through 2028 (with earlier 1/3 special vest in 2024) supports retention; as an executive officer, the 1‑year post‑vesting hold further aligns incentives and reduces near-term selling pressure at vest dates .
- Monitoring for trading signals: Watch Form 4 filings around the 11/1/2025, 11/1/2026, 11/1/2027, and 4/30/2028 vesting dates; any net share sales post holding period could signal personal liquidity actions, though subject to blackout/trading policy constraints .
- Information gaps: No disclosed base salary/bonus/severance terms for Mr. Duggan; monitor future 8‑K Item 5.02 filings and upcoming proxies for compensatory arrangements that could change retention economics or introduce CIC protections .
- Company backdrop: Recent leadership transition and prior Concentra spin-off created equity accelerations and distribution mechanics (0.806971 Concentra share per unvested SEM restricted share), which delivered incremental value and liquidity to award holders, including executives .