Nutrisystem, Inc. (NASDAQ:NTRI) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02 – Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On behalf of the Compensation Committee (“Committee”) of the Board of Directors (“Board”) of Nutrisystem, Inc. (“Company”), the Committee’s compensation consultant conducted a competitive review of the Company’s executive compensation program. To remain competitive with market practices, the consultant recommended, among other things, an increase in the target annual performance bonus opportunities for each of Michael P. Monahan, the Company’s Chief Financial Officer, and Keira Krausz, the Company’s Chief Marketing Officer, from (a) 70% of base salary to (b) 75% of base salary or such greater target annual bonus amount that the Committee or the Board, as applicable, may, in its sole discretion, determine from time to time.
The Committee accepted these recommendations, and on December 27, 2017 the Company amended the employment agreements of Mr. Monahan and Ms. Krausz to reflect such changes. The amendments are attached hereto as Exhibits 10.1 and 10.2, respectively, and are incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit No.Description
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10.1 |
Second Amendment to the Employment Agreement between Nutrisystem, Inc. and Michael P. Monahan, dated December 27, 2017. |
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10.2 |
Second Amendment to the Employment Agreement between Nutrisystem, Inc. and Keira Krausz, dated December 27, 2017. |
Exhibit Index
NUTRI SYSTEM INC /DE/ ExhibitEX-10.1 2 ntri-ex101_6.htm EX-10.1 ntri-ex101_6.htm Exhibit 10.1 December 27,…To view the full exhibit click here
About Nutrisystem, Inc. (NASDAQ:NTRI)
Nutrisystem, Inc. (Nutrisystem) is a provider of weight management products and services, including nutritionally balanced weight loss programs, multi-day kits available at retail locations and digital tools to support weight loss. The Company’s program customers purchase monthly food packages containing four-week meal plan consisting supply of breakfasts, lunches, dinners and snacks and flex meal plan recipes, which they supplement with fresh fruits, vegetables and dairy. Its customers order on an auto-delivery basis (Auto-Delivery), where it sends approximately four-week meal plan on an ongoing basis until notified of a customer’s cancellation. The Company offers its pre-selected favorites food pack or personalized plans, where customers can hand pick their entire menu or customize plans to their dietary preference. Its meal plans feature approximately 150 menu options at different price points, including frozen and ready-to-go entrees, desserts, snacks and shakes.