Boardroom Alpha
Start trial
8-K primary document
MED · Current Report (Form 8-K) · Filed May 26, 2026

Medifast Inc — 8-K exhibit

nickjohnson_promotionlette.htm
Medifast Inc on Boardroom Alpha
Document

Date:        May 20, 2026

To:        Nick Johnson

From:        Dan Chard
        Chief Executive Officer & Board Chairman

Subject:    Promotion

CC:        Personnel file of Nick Johnson

Dear Nick,

Congratulations on your promotion to Chief Executive Officer effective June 8, 2026. Your new annual salary is $600,000 per year paid bi-weekly.

You continue to be eligible to participate in our annual Success Sharing Incentive Plan target at the Band F level, with an award target equal to 100% of your Base Annual Salary as of December 31st of the plan year. The actual bonus amount awarded will be determined based on Medifast’s financial performance and is subject to the terms of the Success Sharing Incentive Plan. The Success Sharing Incentive Plan, and your participation thereunder, are subject to change by the Company in its sole discretion.

Additionally, you will continue to participate in our Long-Term Incentive (LTI) Plan. Under the current LTI Plan and for your band level, grants are made in the form of Deferred Restricted Stock Units (40%) and Performance Stock Units (60%), under the Amended and Restated 2012 Share Incentive Plan, on an annual basis. Effective for the 2027 performance year, your annual target grant value will be equal to 250% of your base salary and will be subject to the terms of the LTI Plan and any written award agreement. More details regarding the LTI Plan are available in the plan document. The LTI Plan, and your participation in the LTI Plan, are subject to change by the Company in its sole discretion.

The above total target compensation change represents a 69% increase vs. your current package.

Nick, your contributions to the advancement of our mission have been numerous, you are a highly valued member of our team. I am excited about your opportunities for continued growth and development as we continue to execute an audacious growth plan. The meaningful work you do each day makes a difference in the lives of so many on their journey toward Optimal Metabolic Health and Wellbeing as we align the company and the field with repeatable opportunity renewal business rhythm.


Please indicate acceptance of these changes by signing below.


/s/ Nicholas Johnson

Disclaimer

The opinions and information contained herein have been obtained or derived from sources believed to be reliable, but Boardroom Alpha cannot guarantee its accuracy and completeness, and that of the opinions based thereon.

This report contains opinions and is provided for informational purposes only – it does not constitute investment, legal or tax advice. You should not rely solely upon the research herein for purposes of transacting securities or other investments, and you are encouraged to conduct your own research and due diligence, and to seek the advice of a qualified securities professional before you make any investment.

None of the information contained in this report constitutes, or is intended to constitute a recommendation by Boardroom Alpha of any particular security or trading strategy or a determination by Boardroom Alpha that any security or trading strategy is suitable for any specific person. To the extent any of the information contained herein may be deemed to be investment advice, such information is impersonal and not tailored to the investment needs of any specific person.

No representation or warranty, expressed or implied, is made on behalf of Boardroom Alpha as to the accuracy or completeness of the information contained herein. Boardroom Alpha does not accept any liability for any direct, indirect or consequential loss or damage suffered by any person as a result of relying on all or any part of this research and any liability is expressly disclaimed.

Full disclaimer