LifeMD cancels CFO's underwater options; grants 536,250 performance-vested restricted shares

LifeMD, Inc.

CFO Marc Benathen's 200,000 stock options (strike $21.02) and 250,000 performance units cancelled.
New grant: 536,250 restricted shares; 25,000 RSUs accelerated to immediate vest.
Performance milestones: $100M revenue/5% EBITDA margin by 2025; $200M/10% by 2027.
Time-based vesting: 50,000 shares vest Jan 1, 2024; 75,000 on Jan 1, 2025.
All unvested shares vest immediately upon change of control or termination without cause.

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