Form 4: Acadia Healthcare Director Reeve Waud Boosts Stake with New Stock Acquisitions

Acadia Healthcare Company, Inc. Director and 10% owner Reeve B. Waud has increased his beneficial ownership in the company through recent stock acquisitions, including shares received as compensation.

Summary

• Reeve B. Waud, a Director and 10% owner of Acadia Healthcare Company, Inc. (ACHC), reported changes in his beneficial ownership.
• On May 29, 2025, Mr. Waud acquired 7,032 shares of common stock, which will vest over a 3-year period in equal yearly installments beginning May 29, 2026.
• Additionally, on May 29, 2025, he acquired 10,637 shares of common stock, reflecting his election to receive his annual cash retainer as a director for 2025 in shares.
• Following these transactions, Mr. Waud directly beneficially owns 59,952 shares of common stock.
• He also indirectly beneficially owns 653,015 shares through various trusts and an LLC, bringing his total beneficial ownership to 712,967 shares.
• Indirect holdings include 225,519 shares by the Halcyon Trust, 37,493 shares by Waud Capital Partners, L.L.C., 155,930 shares by the Reeve B. Waud Jr. 2012 Family Trust, 155,930 shares by the Cecily R.M. Waud 2012 Family Trust, 43,643 shares by the Cornelius Byron Waud 2002 Trust, and 34,500 shares by the Corinna Reeve Waud 2002 Trust.

Sentiment

Score: 8

Explanation: The sentiment is positive due to a director and significant owner increasing their stake in the company, especially by choosing stock over cash for compensation, which signals strong confidence in future performance.

Positives

• A director and 10% owner increasing their stake in the company, particularly by electing to receive compensation in shares, signals confidence in the company's future performance.
• The acquisition of 10,637 shares as part of the annual cash retainer demonstrates alignment of management's interests with shareholders.

Future Outlook

The 7,032 shares acquired on May 29, 2025, are subject to a 3-year vesting schedule, with equal yearly installments beginning May 29, 2026, indicating a future commitment to the company.

Management Comments

• Mr. Waud elected to receive his annual cash retainer as a director for 2025 in shares of common stock, demonstrating a preference for equity-based compensation.

Industry Context

This Form 4 filing is specific to insider transactions within Acadia Healthcare Company, Inc. and does not provide broader industry trends or competitive analysis. It reflects an individual director's investment decision within the healthcare services sector.

Related Party Transactions

• Mr. Waud's indirect beneficial ownership includes shares held by various family trusts (Halcyon Trust, Reeve B. Waud Jr. 2012 Family Trust, Cecily R.M. Waud 2012 Family Trust, Cornelius Byron Waud 2002 Trust, Corinna Reeve Waud 2002 Trust) and Waud Capital Partners, L.L.C., where he holds advisory or managerial roles. He disclaims beneficial ownership except to the extent of his pecuniary interest.

Stakeholder Impact

• Shareholders may view the increased insider ownership as a positive signal, indicating management's confidence in the company's prospects and aligning their interests with those of other investors.

Next Steps

• The vesting of 7,032 shares will occur in equal yearly installments beginning May 29, 2026, over a 3-year period.

Key Dates

Keywords

Acadia Healthcare, ACHC, Reeve B. Waud, Form 4, Insider Trading, Beneficial Ownership, Stock Acquisition, Director Compensation, Healthcare Services, Mental Health, Behavioral Health