The directors of Acadia Healthcare and CEO Debbie Osteen last week signed an extension to her contract that includes a 9 percent raise that takes her base salary to seven figures.
Osteen took over from Joey Jacobs in late 2018 after working at Universal Health Services for more than three decades and last year was paid a salary of $918,000. Her new one-year contract has pushed that number to an even $1 million while keeping her target bonus level at 100 percent of her salary.
Also going up in 2021 for Osteen — who signed her new deal on the same day her team closed on the $1.35 billion sale of Acadia’s United Kingdom division, which the Jacobs regime had bought in early 2016 — are her possible long-term stock awards. The CEO is set to receive restricted shares that, depending on Acadia’s 2021 performance, could be worth $5.2 million. That number is up from $3.2 million in 2019.
Shares of Acadia (Ticker: ACHC) finished Friday trading at $52.01, up about 3 percent from the number of the week before. They have risen about 80 percent over the past six months, pushing the company’s market capitalization to more than $4.6 billion.