Medifast Enters Cooperation Agreement with Steamboat Capital, Nominates Two Directors, CEO to Step Down June 1, 2026

MEDIFAST INC

Medifast (MED) entered a Cooperation Agreement with Steamboat Capital Partners (beneficial owner >5%) on March 19, 2026.
Medifast will nominate Steamboat designees Parsa Kiai and Jeff Rose as independent directors at the 2026 annual meeting on May 19, 2026.
Existing directors Jeffrey Brown and Michael Hoer will not stand for reelection at the 2026 annual meeting.
CEO Dan Chard will step down on June 1, 2026, remaining Chairman; President Nicholas Johnson to succeed as CEO.
Steamboat agreed to customary standstill and voting provisions through the 2027 annual meeting.

item 1.01 item 5.02 item 7.01 item 9.01

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