Jason Bernhard participates in Acadia Healthcare’s board governance processes as an independent director, providing oversight of management and strategic guidance on growth initiatives. Board responsibilities include reviewing financial performance, approving major transactions, overseeing risk management, and ensuring appropriate corporate governance structures.
Independent directors like Bernhard serve without financial ties to company management beyond standard director compensation. This independence enables objective evaluation of management recommendations and advocacy for shareholder interests. Seven of Acadia Healthcare’s eight board members qualify as independent under NASDAQ listing standards.
Board committee assignments allow directors to develop expertise in specific oversight areas. While specific committee assignments for Jason Bernhard were not disclosed in public materials, Acadia Healthcare’s board maintains audit, compensation, and nominating/governance committees. These committees perform detailed work on financial reporting, executive compensation, and board composition.
Strategic planning discussions constitute a significant portion of board meeting agendas. Acadia Healthcare’s strategy to double revenue by 2028 requires board input on capital allocation priorities, market selection, partnership opportunities, and organic growth initiatives. Bernhard’s healthcare industry expertise contributes to these strategic deliberations.
Mergers and acquisitions require board approval, particularly for significant transactions. Board members evaluate proposed acquisitions based on strategic fit, valuation, financing structure, integration risks, and expected returns. Jason Bernhard’s transaction advisory background supports thorough evaluation of management’s acquisition recommendations.
Joint venture partnerships also require board oversight and approval. Each joint venture involves negotiating partnership agreements, committing capital, and establishing governance structures for the joint entity. Board review ensures joint ventures align with company strategy and provide appropriate risk-adjusted returns.
Risk oversight represents a critical board function. Acadia Healthcare faces various risks including regulatory compliance, reimbursement changes, labor availability, patient safety incidents, and litigation exposure. The board reviews management’s risk assessment processes and monitors significant risk exposures.
Jason Bernhard’s perspective on financial risks complements other directors’ operational and clinical expertise. Healthcare services companies face financial risks including payor concentration, bad debt exposure, interest rate risk on variable-rate debt, and liquidity risk if cash flow doesn’t meet projections. His financial background supports board risk discussions.
Capital allocation decisions require balancing competing priorities including facility development, acquisitions, debt repayment, and potential shareholder returns. Board input on capital allocation strategy helps ensure management deploys capital effectively. Bernhard’s experience advising companies on capital structure decisions informs these board deliberations.
CEO succession planning falls within board responsibilities, though this became less immediate after Chris Hunter joined as CEO in April 2022. Boards maintain ongoing succession planning processes ensuring organizational continuity if leadership changes become necessary. Director input on CEO selection criteria and candidate evaluation supports effective succession planning.
Executive compensation oversight ensures appropriate alignment between management incentives and shareholder interests. The compensation committee, with input from the full board, approves CEO and other executive compensation including base salary, annual bonuses, and equity grants. Peer company benchmarking helps establish appropriate compensation levels.