UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549



FORM			8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

Date of Report: ~~November~~February 272, ~~2023~~2024

(Date of earliest event reported)

_________________________________________

BOWFLEX INC.

(Exact name of registrant as specified in its charter)

__________________________________________


Washington	001-31321	94-3002667
(State or other jurisdiction of incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

17750 S.E. 6th Way

Vancouver, Washington 98683

(Address of principal executive offices, including zip code)

(360) 859-2900

(Registrant's telephone number, including area code)

Nautilus, Inc.

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):


☐						Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐						Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐						Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐						Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:


Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, no par value	BFX	New York Stock Exchange


Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company			☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.			☐

BOWFLEX INC.

FORM 8-K

Item 35.0102 ~~Notice~~Departure of ~~Delisting~~Directors or ~~Failure~~Certain toOfficers; ~~Satisfy~~Election aof ~~Continued~~Directors; ~~Listing~~Appointment ~~Rule~~of orCertain ~~Standard:~~Officers;Compensatory ~~Transfer~~Arrangements of ~~Listing~~Certain Officers.

On ~~November~~January 2731, ~~2023~~2024, ~~Bowflex~~the ~~Inc.~~Board of Directors (the “~~Company~~Board”) ~~received~~of ~~written~~Bowflex ~~notice~~Inc. (the “~~Notice~~Company”) ~~from~~approved the ~~New~~Bowflex ~~York~~Inc. ~~Stock~~Key ~~Exchange~~Executive Compensation Plan (the “~~NYSE~~Executive Compensation Plan”) ~~that~~to itenact ~~was~~a ~~not~~compensation inprogram ~~compliance~~for ~~with~~certain ~~the~~senior ~~continued~~level ~~listing~~executives. ~~standard~~The ~~set~~Board ~~forth~~approved ~~in Section 802.01B of~~ the ~~NYSE~~Executive ~~Listed~~Compensation ~~Company~~Plan ~~Manual~~in ~~because~~recognition ~~its~~of ~~average~~the ~~global~~significant ~~market~~benefits ~~capitalization~~to ~~over~~the aCompany ~~consecutive~~in 30compensating ~~trading-day~~such ~~period~~executives ~~was~~to ~~less~~continue ~~than~~assisting ~~$50.0 million and, at~~ the ~~same~~Company ~~time,~~in its ~~last~~operations ~~reported~~as ~~stockholders’~~it ~~equity~~evaluates ~~was~~strategic ~~less~~alternatives ~~than~~and ~~$50~~initiatives.~~0 million.~~

~~The~~Pursuant ~~Company plans~~ to ~~notify~~certain ~~the~~Award ~~NYSE~~Agreements byunder ~~December 11, 2023, of its receipt of~~ the ~~Notice~~Executive ~~and~~Compensation ~~that it intends to submit a plan (the “~~Plan”), ~~to cure~~ the ~~global~~Company ~~market capitalization deficiency~~ and tocertain ~~return~~members ~~to compliance with Section 802.01B~~ of the ~~NYSE continued listing standards. Under Section 802.02 of the NYSE Listed~~ Company’s ~~Manual,~~executive ~~the~~management ~~Company~~team ~~has 45 days from~~ (the ~~receipt~~“Executives” ofand ~~the~~each ~~Notice~~an to“Executive”), ~~submit~~specifically, aJim ~~plan~~Barr, ~~advising~~Aina ~~the~~Konold, ~~NYSE~~Alan ofChan, ~~definitive~~John ~~action the Company has taken~~Goelz, orand isBecky ~~taking~~Alseth, ~~which~~shall ~~would~~be ~~bring~~bound to the ~~Company~~terms ~~into~~and ~~compliance~~conditions ~~with~~of the ~~minimum~~Executive ~~global~~Compensation ~~market~~Plan ~~capitalization~~upon ~~listing~~execution ~~standard within 18 months~~ of ~~receipt~~each ofExecutive’s ~~the~~applicable ~~Notice~~Award ~~(the “Market Capitalization Cure Period”)~~Agreement.

The ~~Notice~~Executive ~~has~~Compensation noPlan ~~immediate~~provides ~~impact~~for a lump sum, one-time cash payment, less applicable tax withholdings, on the ~~listing~~next ofadministratively practicable payroll date following the ~~Company’s~~date ~~common~~the ~~stock~~Executive ~~and~~returns ~~does~~a ~~not~~countersigned ~~affect~~Award Agreement to the Company’s ~~business~~(the ~~operations~~“Award orPayment ~~its~~Date”) ~~reporting~~in ~~obligations~~the ~~with~~following amounts: 48% of the ~~Securities~~current annualized base salary for Jim Barr; 61% of the current annualized base salary for Aina Konold; and ~~Exchange~~57% ~~Commission~~of the current annualized base salary for Alan Chan; and other Executive participants in the Executive Compensation Plan will be eligible for amounts based upon a percentage of the applicable Executive’s base salary (the “Executive Awards”).

~~Item~~The ~~7.01 Regulation~~Executive FDAwards ~~Disclosure~~are subject to a “clawback” requirement, which provides that each Executive must repay the net (after-tax) amount of their Executive Award upon the occurrence of certain events as set forth in the Executive Compensation Plan.

OnThe ~~December~~Executive 1,Compensation ~~2023,~~Plan ~~the~~supersedes ~~Company~~all ~~issued~~oral aor ~~press~~written ~~release~~plans, ~~related~~programs, toagreements ~~the~~and ~~foregoing.~~policies ~~A copy~~ of the ~~press~~Company ~~release~~and isits ~~attached~~affiliates aswith ~~Exhibit~~respect ~~99.1~~ to ~~this~~the ~~Current~~subject ~~Report~~matter ~~and~~of isthe ~~incorporated~~Executive byCompensation ~~reference to this Item 7~~Plan.~~01.~~

The ~~information~~foregoing indescription ~~this Item 7.01, including Exhibit 99.1, is being furnished and shall not be deemed “filed” for the purposes~~ of ~~Section 18 of~~ the ~~Securities~~Executive ~~Exchange~~Compensation ~~Act~~Plan ofdoes ~~1934,~~not aspurport ~~amended~~to ~~(the~~be ~~“Exchange~~complete ~~Act”),~~ and is ~~not~~qualified toin beits ~~incorporated~~entirety by reference ~~into~~to ~~any~~the ~~filing~~full bytext ~~Company~~of ~~under~~ the ~~Securities~~Executive ~~Act~~Compensation ~~of 1933~~Plan, aswhich ~~amended,~~is orattached ~~the~~to ~~Exchange~~this ~~Act,~~Current ~~regardless~~Report ofon ~~any~~Form ~~general~~8-K ~~incorporation~~as ~~language~~Exhibit ~~contained~~10.1 inand ~~such~~incorporated ~~filing,~~herein ~~unless~~by ~~otherwise~~reference ~~expressly stated~~ in ~~such~~their ~~filing~~entirety.

Forward-Looking Statements

This Current Report on Form 8-K includes forward-looking statements (statements which are not historical facts) within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, express or implied forward-looking statements relating to the Company’s ~~ability~~exploration ~~to maintain the listing~~ of ~~its~~strategic ~~common~~alternatives ~~stock on the NYSE~~ and ~~the Company’s anticipated business and financial performance~~initiatives. You are cautioned that such statements are not guarantees of future performance and that our actual results may differ materially from those set forth in the forward-looking statements. All of these forward-looking statements are subject to risks and uncertainties that may change at any time. Factors that could cause the Company’s actual expectations to differ materially from these forward-looking statements also include: weaker than expected demand for new or existing products; our ability to timely acquire inventory that meets our quality control standards from sole source foreign manufacturers at acceptable costs; risks associated with current and potential delays, work stoppages, or supply chain disruptions, including shipping delays due to the severe shortage of shipping containers; an inability to pass along or otherwise mitigate the impact of raw material price increases and other cost pressures, including unfavorable currency exchange rates and increased shipping costs; experiencing delays and/or greater than anticipated costs in connection with launch of new products, entry into new markets, or strategic initiatives; our ability to hire and retain key management personnel; changes in consumer fitness trends; changes in the media consumption habits of our target consumers or the effectiveness of our media advertising; a decline in consumer spending due to unfavorable economic conditions; risks related to the impact on our business of the COVID-19 pandemic or similar public health crises; softness in the retail marketplace; availability and timing of capital for financing our strategic initiatives, including being able to raise capital on favorable terms or at all; changes in the financial markets, including changes in credit markets and interest rates that affect our ability to access those markets on favorable terms and the impact of any future impairment. Additional assumptions, risks and uncertainties that could cause actual results to differ materially from those contemplated in these forward-looking statements are described in detail in our registration statements, reports and other filings with the Securities and Exchange Commission, including the “Risk Factors” set forth in our Annual Report on Form 10-K, as supplemented by our quarterly reports on Form 10-Q. Such filings are available on our website or at www.sec.gov. We undertake no obligation to publicly update or revise forward-looking statements to reflect subsequent developments, events, or circumstances, except as may be required under applicable securities laws.

supplemented by our quarterly reports on Form 10-Q. Such filings are available on our website or at www.sec.gov. We undertake no obligation to publicly update or revise forward-looking statements to reflect subsequent developments, events, or circumstances, except as may be required under applicable securities laws.


Item 9.01						Financial Statements and Exhibits.

(d) Exhibits.

Exhibit Number			Description
99.1			Press Release dated December 1, 2023
10.1			BowFlex Inc. Key Executive Compensation Plan
104			Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	BOWFLEX INC.
	(Registrant)
December 1, 2023	By:	/s/ Aina E. Konold
February 2, 2024	By:	/s/ Aina E. Konold
Date		Aina E. Konold
		Chief Financial Officer
		(Principal Financial Officer)

Filing Compare · BOWFLEX INC.