Planet Fitness discloses Interim CEO Benson's compensation: $250K base, no bonus or equity

Planet Fitness, Inc.

Annual base salary of $250,000; no bonus, no short- or long-term incentive awards.
Benson not eligible for board compensation during interim period; tax equalization and $65 bi-weekly cell stipend provided.
Board waives code-of-ethics restrictions for Benson's existing franchise (DA Business Enterprises) and 10% vendor interest in Radianse.
Benson must designate a manager for his franchise; any company transaction involving his interests requires Audit Committee approval.
Addendum dated October 31, 2023, amends September 15 offer letter; employment effective September 15, 2023.

item 5.02 item 5.05 item 9.01

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Appointed (interim)

Benson

Interim Chief Executive Officer

PLNT · Planet Fitness, Inc.

Filed: November 1, 2023, 7:59 PM ET

This Current Report on Form 8-K/A amends the Original 8-K to include information about Benson’s compensatory arrangements in connection with his appointment as Interim Chief Executive Officer.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Benson was appointed as Interim Chief Executive Officer at Planet Fitness, Inc..

Action: appointed
Role: Interim Chief Executive Officer

Exact text from the filing

This Current Report on Form 8-K/A amends the Original 8-K to include information about Benson’s compensatory arrangements in connection with his appointment as Interim Chief Executive Officer.

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Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Planet Fitness, Inc.: The Board waived certain provisions of the Company's Code of Ethics and Code of Ethics for Senior Executive and Financial Officers regarding existing business interests of the interim CEO, subject to compliance with addendum conditions (effective 2023-10-31).

Change: code of ethics
Effective: 2023-10-31

Exact text from the filing

The Board has waived the requirements under the Company’s Code of Ethics and Code of Ethics for Senior Executive and Financial Officers with respect to the Existing Benson Activities carried out in the ordinary course, subject to Benson’s compliance with the conditions set forth in the Addendum, including compliance with Company policy requiring Board or Audit Committee approval of transactions in which Benson has an interest.

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188 governance changes filed in the last 30 days. Browse all governance changes →

Planet Fitness, Inc. filing history →

Source: SEC EDGAR

accession 0001637207-23-000044

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