INNV · InnovAge Holding Corp.

This appointment signals a strategic reinforcement of InnovAge’s operational leadership amid its focus on disciplined execution and regulatory compliance across its Program of All-inclusive Care for the Elderly (PACE) network. Jennifer Browne brings direct experience scaling value-based care organizations — most recently as COO of Strive Health and SVP at Optum — positioning her to drive consistency across InnovAge’s 20 centers in six states serving ~8,050 participants. Her compensation package is structured to balance immediate retention (sign-on bonus subject to prorated repayment if she departs before one year), annual performance linkage (75% target bonus), and long-term alignment (three-year RSU vesting and Class B Units tied to Apax Partners’ investment return). The Class B Unit structure is particularly notable: while one-third vests on time alone, two-thirds are contingent on Apax achieving MOIC thresholds ranging from 1.67x to 2.30x — directly tying Browne’s equity upside to the private equity sponsor’s capital appreciation, which may influence strategic decisions around monetization or exit timing. The severance terms — 12 months’ salary and bonus — are consistent with market standards for peers but underscore the Board’s commitment to stability during this leadership transition. Given InnovAge’s emphasis on quality, compliance, and expansion — explicitly cited by CEO Patrick Blair — Browne’s mandate to elevate participant experience and operational metrics carries direct implications for regulatory risk mitigation, payer relationships, and potential growth trajectory.