LifeMD, Inc. 8-K

What Happened

• LifeMD announced on March 16, 2026 that CFO Marc Benathen will depart to pursue a new opportunity, remaining employed through March 31, 2026 to support the handover. Benathen and the company agreed he will provide post-employment transition advisory services for 6–12 months at $38,117 per month; the company will also reimburse his COBRA costs through no later than April 1, 2027. The filing states Benathen did not resign due to any disagreement with the company.
• On the same date LifeMD appointed Atul Kavthekar as its new Chief Financial Officer, effective March 16, 2026. Kavthekar’s employment agreement sets a $500,000 base salary, a target annual discretionary bonus equal to 50% of base salary, and a grant of 675,000 restricted stock units (RSUs) — 337,500 time-based (112,500 vesting each year for three years) and 337,500 performance-based.

Key Details

• Marc Benathen will remain employed through March 31, 2026 and then provide advisory services for 6–12 months at $38,117/month. Unvested RSUs as of March 31, 2026 will be forfeited; vested RSUs retained subject to the company’s recovery policy.
• Atul Kavthekar’s pay package: $500,000 base salary, target bonus 50% of base, and 675,000 RSUs (337,500 time-based; 337,500 performance-based). Time-based RSUs vest 112,500 on each of the first three anniversaries; special vesting rules apply on termination or change of control.
• Company publicly also promoted Jessica Friedeman to Chief Business Officer and Chris Pisano to Chief Marketing Officer (press release filed as Exhibit 99.1).

Why It Matters

• A CFO change is material: investors should note leadership continuity steps (transition services) intended to limit disruption to financial operations and reporting. The advisory payments and COBRA reimbursement represent near-term cash/expense items; the RSU grant and sizable equity award to the new CFO could have long-term dilution implications if fully issued and vested.
• The new CFO’s pay structure — significant equity tied to performance and time-based vesting — aligns his incentives with company performance and retention, which matters for strategy execution and future financial results. The filing states no related-party transactions or family relationships between Kavthekar and company insiders.