An executive at Premier, Inc., a health care improvement company, has announced his resignation, according to a filing with the Securities and Exchange Commission.
Durral R. Gilbert, president of supply chain services, announced his resignation on Oct. 3 effective Oct. 31 but agreed to remain with Premier at the company’s request until Dec. 31.
Earlier this year, Premier announced the realignment of management responsibilities following the end of fiscal year 2017.
Before the realignment, Gilbert oversaw all supply chain services operations. Following the realignment, Gilbert oversees the integrated pharmacy operations and integration of Acro Pharmaceuticals into the company’s operations.
Gilbert and Premier entered into a transition agreement on Oct. 9, stating Gilbert will step down from his current position on Oct. 31 and remain in an executive consulting role until Dec. 31.
Upon his departure, the company will pay Gilbert his regular base salary in an aggregate amount of $114,931 and pay benefits through Dec. 31 beyond anything already owed to him.
Premier will also pay him 10 month of severance pay totaling $389,583 and $11,565 to use for insurance premiums.
The company will consider his resignation an “involuntary termination without cause” for the purpose of calculating his vesting, payment, option exercise and other equity terms which were valued at $865,345 based on the company’s closing stock price of $33.86 on Oct. 9.
Gilbert served as president of supply chain services since 2013 and senior vice president of supply chain emerging services from 2011 to 2012. He started at Premier in 2006 as vice president of operations.
In September, Premier acquired the specialty pharmacy business from Lincare Holdings, including Acro Pharmaceuticals and Community Pharmacy Services, for $75 million.
Premier stock is trading at $33.82, down 2 cents from market close on Monday.