Oscar Health amends Mario Schlosser's employment agreement, transitioning him from President/CTO to Co-Founder & Advisor to the CEO with reduced compensation.
Key takeaways
Effective June 1, 2026, Mario Schlosser transitions to Co-Founder & Advisor to the CEO, continuing to serve on the Board.
Annual base salary is set at $370,000, reduced from his prior role.
Schlosser will no longer be eligible for annual bonuses or new equity awards, but existing awards continue vesting.
No cash severance or company-subsidized healthcare upon termination, removing typical executive protections.
Schlosser will focus on artificial intelligence and digital health innovation.
The change signals a shift in executive structure, potentially reducing compensation costs.