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.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

MEDIFAST INC entered into Cooperation Agreement with Steamboat Capital Partners LLC and certain of its related persons (effective 2026-03-19).

Action: entry
Counterparty: Steamboat Capital Partners LLC and certain of its related persons
Effective: 2026-03-19

Exact text from the filing

On March 19, 2026, Medifast, Inc. (the "Company") and Steamboat Capital Partners LLC and certain of its related persons ("Steamboat") entered into a Cooperation Agreement (the "Cooperation Agreement").

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MEDIFAST INC filing history →

Source: SEC EDGAR

accession 0001628280-26-019983

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