Management ChangeMay 26, 2026, 04:38 PM
Medifast Appoints Nicholas Johnson CEO; Chard Becomes Chairman
AI Summary
Medifast, Inc. announced the appointment of Nicholas Johnson as its new Chief Executive Officer, effective June 1, 2026. He succeeds Daniel Chard, who will transition to non-executive Chairman of the Board. Johnson's compensation package includes a $600,000 base salary and a 69% increase in total target compensation. Additionally, stockholders approved an amendment to the 2012 Share Incentive Plan, increasing authorized shares by 250,000, and ratified the appointment of RSM US LLP as the independent auditor.
Key Highlights
- Nicholas Johnson appointed CEO of Medifast, effective June 1, 2026.
- Daniel Chard transitions to non-executive Chairman of the Board.
- Johnson's annual base salary set at $600,000.
- Johnson's target bonus is 100% of his base salary.
- Johnson's Long Term Incentive target is 250% of his base salary.
- Johnson's total target compensation increased by 69%.
- Stockholders approved adding 250,000 shares to the 2012 Incentive Plan.
- RSM US LLP ratified as auditor with 6,411,175 votes.
Price Impact
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