Planet Fitness, Inc. 8-K

What Happened

• Planet Fitness, Inc. filed an 8-K on June 25, 2026 announcing that Sudhanshu Priyadarshi (age 49) has been hired as Chief Financial Officer and President, International, effective June 25, 2026. Tom Fitzgerald’s role as Interim CFO ends on that date; he will remain as an advisor through mid-September to support the transition.
• Mr. Priyadarshi joins with more than 25 years of finance and operating experience, most recently serving at Keurig Dr Pepper and previously as CFO at Vista Outdoor, Flexport and in senior finance roles at Walmart.

Key Details

• Base salary: $900,000 per year.
• Annual cash bonus target: 115% of base salary (actual payout tied to company performance).
• Equity grants:
  • New-hire RSU award with target grant-date fair value of $3,000,000, vesting in three equal annual installments.
  • 2026 long-term incentive award with target grant-date fair value of $4,000,000 (50% RSUs, 50% PSUs); RSUs vest over three years, PSUs vest at year three subject to performance.
• Relocation and transition support: relocation expense reimbursement if relocated by Dec 31, 2028; travel reimbursement between California and Boston through Sept 2028; up to $7,500/month temporary housing for up to six months.
• Other terms: eligible for the company’s Executive Severance & Change in Control Policy; 12-month post-employment non‑compete and non‑solicit restrictions.

Why It Matters

• This is a material executive change: the company has named a permanent principal financial officer with substantial consumer and international experience, replacing an interim CFO. Investors should note the compensation structure (salary, bonus target, and significant equity awards) and the multi-year vesting and performance conditions, which align pay with longer-term results. The filing clarifies transition timing and support for continuity in financial leadership.