secwatch.observer — SEC 8-K summary
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Issuer:     LifeMD, Inc. (LFMD)
CIK:        0000948320
Form:       8-K
Filed at:   2023-07-14T23:59:59+00:00
Accession:  0001493152-23-024593
Event type: other_material
Sentiment:  neutral
Materiality: 0.50
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/948320/000149315223024593/0001493152-23-024593-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/948320/000149315223024593/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-024593

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