Nu Skin Appoints New CFO, Hetherington

TL;DR

New CFO Jason Hetherington starts March 18th with $500k salary + bonus + $1.5M stock.

AI Summary

Nu Skin Enterprises, Inc. announced on March 15, 2024, the appointment of Jason Hetherington as Chief Financial Officer, effective March 18, 2024. He will receive an annual base salary of $500,000 and a target annual bonus of 75% of his base salary. Additionally, Hetherington will be granted restricted stock units with a target value of $1,500,000, vesting over three years.

Why It Matters

The appointment of a new CFO is a significant leadership change that could signal a shift in financial strategy or operational focus for Nu Skin Enterprises.

Risk Assessment

Risk Level: medium — Changes in key executive positions like CFO can introduce uncertainty regarding future financial strategies and performance.

Key Numbers

• $500,000 — CFO Base Salary (Annual compensation for Jason Hetherington)
• 75% — CFO Bonus Target (Potential performance-based bonus for Jason Hetherington)
• $1,500,000 — CFO Stock Grant (Value of restricted stock units awarded to Jason Hetherington)

Key Players & Entities

• Nu Skin Enterprises, Inc. (company) — Registrant
• Jason Hetherington (person) — Appointed Chief Financial Officer
• $500,000 (dollar_amount) — Annual base salary for new CFO
• 75% (dollar_amount) — Target annual bonus percentage for new CFO
• $1,500,000 (dollar_amount) — Target value of restricted stock units for new CFO
• March 15, 2024 (date) — Date of report
• March 18, 2024 (date) — Effective date of CFO appointment

FAQ

From the Filing

0001140361-24-013913.txt : 20240318 0001140361-24-013913.hdr.sgml : 20240318 20240318161836 ACCESSION NUMBER: 0001140361-24-013913 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 13 CONFORMED PERIOD OF REPORT: 20240315 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers FILED AS OF DATE: 20240318 DATE AS OF CHANGE: 20240318 FILER: COMPANY DATA: COMPANY CONFORMED NAME: NU SKIN ENTERPRISES, INC. CENTRAL INDEX KEY: 0001021561 STANDARD INDUSTRIAL CLASSIFICATION: WHOLESALE-DRUGS PROPRIETARIES & DRUGGISTS' SUNDRIES [5122] ORGANIZATION NAME: 07 Trade & Services IRS NUMBER: 870565309 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-12421 FILM NUMBER: 24759277 BUSINESS ADDRESS: STREET 1: 75 WEST CENTER ST STREET 2: ATTN: GREGORY BELLISTON CITY: PROVO STATE: UT ZIP: 84601 BUSINESS PHONE: 801-345-1000 MAIL ADDRESS: STREET 1: 75 WEST CENTER ST STREET 2: ATTN: GREGORY BELLISTON CITY: PROVO STATE: UT ZIP: 84601 FORMER COMPANY: FORMER CONFORMED NAME: NU SKIN ENTERPRISES INC DATE OF NAME CHANGE: 19980909 FORMER COMPANY: FORMER CONFORMED NAME: NU SKIN ASIA PACIFIC INC DATE OF NAME CHANGE: 19960919 8-K 1 ef20024334_8k.htm 8-K false 0001021561 0001021561 2024-03-15 2024-03-15 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934   March 15, 2024     Date of Report (Date of earliest event reported)       NU SKIN ENTERPRISES, INC.     (Exact name of registrant as specified in its charter)   Delaware   001-12421   87-0565309 (State or other jurisdiction of incorporation)   (Commission File Number)   (IRS Employer Identification Number)   75 West Center Street Provo , Utah 84601     (Address of principal executive offices and zip code)       ( 801 ) 345-1000     (Registrant’s telephone number, including area code)       N/A     (Former name or former address, if changed since last report)   Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:   ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)   ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)   ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))   ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4 (c))   Securities registered pursuant to Section 12(b) of the Act:   Title of each class Trading Symbol(s) Name of each exchange on which registered Class A Common Stock, $.001 par value NUS New York Stock Exchange Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐   If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐ Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On March 15, 2024, Andrew Lipman informed Nu Skin Enterprises, Inc. (the “Company”) that he has decided to retire from the Company’s Board of Directors (the “Board”) and will not stand for re-el