secwatch.observer — SEC 8-K summary
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Issuer:     LifeMD, Inc. (LFMD)
CIK:        0000948320
Form:       8-K
Filed at:   2023-06-20T23:59:59+00:00
Accession:  0001493152-23-021726
Event type: other_material
Sentiment:  neutral
Materiality: 0.50
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

LifeMD grants GC Eric Yecies 375,000 restricted shares with performance milestones
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- 375,000 restricted shares granted; replaces 200,000 stock options ($7.55 strike) and 105,000 performance units cancelled.
- 150,000 shares time-vest: 12,500 immediately, 37,500 Nov 20, 2023, 100,000 Jan 1, 2024.
- 225,000 performance shares: $100M net revenue/5% EBITDA margin by 2025; $150M/10% by 2026; $200M/10% by 2027.
- 75,000 shares vest by CEO/Board discretion for 2023 and 2024 performance on 3/1/24 and 3/1/25.
- Unvested shares accelerate upon change of control or termination without cause/good reason.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/948320/000149315223021726/0001493152-23-021726-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/948320/000149315223021726/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-021726

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer