Form 4: AdaptHealth Director Boosts Stake with $20M Share Purchases

Richard M. Cashin Jr., a Director and 10% owner of AdaptHealth Corp., acquired over 2 million shares of common stock totaling approximately $20 million through a Rule 10b5-1 plan.

Summary

• Richard M. Cashin Jr., a Director and 10% Owner of AdaptHealth Corp. (AHCO), reported multiple purchases of common stock.
• On March 10, 2026, 820,528 shares were acquired at a weighted average price of $9.7287 per share, ranging from $9.58 to $9.95.
• On March 11, 2026, an additional 536,827 shares were acquired at a weighted average price of $9.7281 per share, ranging from $9.64 to $9.75.
• On March 12, 2026, 689,336 shares were acquired at a weighted average price of $9.7299 per share, ranging from $9.55 to $9.75.
• These transactions were made pursuant to a Rule 10b5-1(c) contract, instruction, or written plan.
• Following these transactions, the reporting person indirectly beneficially owns 15,864,871 shares of AdaptHealth Corp. Common Stock.
• The shares are held indirectly through OEP AHCO Investment Holdings, VI LLC, which is owned by various One Equity Partners funds, with Richard Cashin having voting and investment discretion.

Sentiment

Score: 8

Explanation: StockSavvy.ai views this as a strong positive signal. Significant insider buying by a director and major shareholder, especially through a pre-planned Rule 10b5-1 program, typically indicates high confidence in the company's prospects and valuation.

Positives

• A significant insider purchase by a Director and 10% owner signals strong confidence in the company's future prospects.
• The transactions were executed under a Rule 10b5-1 plan, indicating a pre-planned investment strategy rather than a reaction to immediate market events.

Future Outlook

The filing does not contain specific forward-looking statements or guidance from the company, but the significant insider buying may imply a positive outlook from the reporting person.

Management Comments

• Richard Cashin, as a member of the six-member investment committee of OEP VII GP, acts by majority vote, which majority must include his vote, and accordingly may be deemed to have voting and investment discretion and beneficial ownership of the reported securities.

Industry Context

StockSavvy.ai notes that significant insider buying, especially by a director and major shareholder, is often interpreted by the market as a strong vote of confidence in the company's valuation and future performance, potentially signaling undervaluation or anticipated positive developments within the healthcare services industry.

Stakeholder Impact

• Shareholders: The significant insider buying could instill greater confidence among existing shareholders and attract new investors, potentially leading to positive share price movement.
• Management: Reinforces alignment of interests between a key director/owner and other shareholders.

Next Steps

• The reporting persons intend to amend this Form 4 to reflect the OEP Entities (OEP AHCO Investment Holdings, VI LLC, the Parallel Funds, OEP VII GP, OEP VII GP LLC) as reporting persons once their EDGAR filing codes are received from the SEC.

Key Dates

Recommendation

The substantial insider purchases by a Director and 10% owner, totaling approximately $20 million, demonstrate strong conviction in AdaptHealth Corp.'s value and future outlook. Such a significant investment, made under a Rule 10b5-1 plan, suggests a belief that the stock is currently undervalued or poised for growth, making it an attractive 'buy' signal for seasoned investors.

Keywords

AdaptHealth Corp, AHCO, Insider Buying, Form 4, Richard Cashin, One Equity Partners, Stock Purchase, Beneficial Ownership, Rule 10b5-1