Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-05-29

Medifast (MED)

Fiscal year 2025 executive and director compensation, incentive-plan design, equity activity, and governance — every figure in this brief is traceable to its exact location in the company’s SEC filing — the document, the section, the page, and the table, linked directly.

$5,584,551
Daniel Chard total, FY2025
50th
CEO pay percentile vs peers
57:1
CEO-to-median pay ratio
86.25%
Say-on-pay support, latest vote
Companies that benchmark against MED
4 companies name MED as a compensation peer

Each company listed discloses MED in its own benchmarking peer group, as disclosed in each company's most recent proxy statement within the last two proxy seasons. Two companies are therefore absent by design: one that named MED in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.

01

Summary Compensation Table — fiscal year 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Daniel Chard$1,000,000$0$4,567,664$0$0$0$16,886$5,584,551
Chairman & Chief Executive Officer
Anthony Tyree415,8730162,1940145,5560761,0971,484,720
Former Chief Business Operations Officer
James Maloney527,0850700,4270184,480016,4031,428,396
Chief Financial Officer
Nicholas Johnson440,3520585,1630154,123015,9801,195,619
Chief Field Operations Officer
Jason Groves427,7810568,4650149,723014,4831,160,452
Chief Legal Officer & Corporate Secretary

A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.

Three-year trend — total compensation per named executive

Named executive officerFY2025 totalFY2024 totalFY2023 totalΔ FY20242025
Daniel Chard$5,584,551
Anthony Tyree1,484,720
James Maloney1,428,396
Nicholas Johnson1,195,619
Jason Groves1,160,452

Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.

02

Equity transactions since the proxy statement was filed

No insider equity transactions reported since the proxy statement.

03

Grants of plan-based awards — fiscal year 2025

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Jason GrovesPSU2025-03-25$271,781
Jason GrovesPSU2025-03-254,90219,60935,949296,684
Daniel ChardPSU2025-03-251,731,849
Daniel ChardPSU2025-03-2546,858187,430343,6152,835,816
Nicholas JohnsonPSU2025-03-25279,764
Nicholas JohnsonPSU2025-03-255,04620,18537,005305,399
James MaloneyPSU2025-03-256,04024,16144,294365,556
James MaloneyPSU2025-03-25334,871
Anthony TyreePSU2025-03-251,5896,35411,64996,141
Anthony TyreePSU2025-03-2566,053
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Jason Groves$0$568,465$0100.0%
Daniel Chard04,567,6650100.0%
Nicholas Johnson0585,1630100.0%
James Maloney0700,4270100.0%
Anthony Tyree0162,1940100.0%

% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.

04

Outstanding equity awards at fiscal year-end 2025

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Daniel ChardPSU187,430$2,001,752
Daniel ChardRSU124,9531,334,498
Daniel ChardPSU67,631722,299
Daniel ChardRSU30,058321,019
James MaloneyPSU24,161258,039
James MaloneyRSU24,161258,039
Nicholas JohnsonPSU20,185215,576
Nicholas JohnsonRSU20,185215,576
Jason GrovesPSU19,609209,424
Jason GrovesRSU19,609209,424
James MaloneyPSU8,71893,108
Nicholas JohnsonPSU7,28477,793
Jason GrovesPSU7,07675,572
James MaloneyRSU5,81262,072
Daniel ChardRSU5,60359,840
Nicholas JohnsonRSU4,85651,862
Jason GrovesRSU4,71850,388
James MaloneyRSU1,52516,287
Nicholas JohnsonRSU1,30813,969
Jason GrovesRSU1,23813,222
05

Incentive-plan design — the Compensation Discussion & Analysis

CEO STI target (% of salary)
CEO LTI target (% of salary)
Independent consultant
Clawback policytrue
Anti-hedging
Anti-pledging
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-05-193,996,046637,17315,87486.25%Passed
20252025-06-183,585,4692,477,849128,49259.13%Passed
20242024-06-196,875,928248,08820,61196.52%Passed
20232023-06-147,495,497372,67387,20195.26%Passed
20222022-06-158,615,230304,225153,69696.59%Passed
20212021-06-028,651,595244,60020,00197.25%Passed

Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year's compensation.

Say-on-pay — history, company's computation

Meeting yearMeeting dateApproval — company's computation
20262026-05-1986.25%a
20252025-06-1859.13%b
20242024-06-1996.52%c

a. Voting standard not stated in the filing.

b. Voting standard not stated in the filing.

c. Voting standard not stated in the filing.

Approval percentages are the company's own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.

07

CEO pay ratio

Ratio (CEO : median employee)57 : 1
CEO total compensation
Median employee compensation$97,437
09

Board fee structure and ownership guideline

Annual cash retainer
Annual equity retainer
Per board meeting fee
Committee chair fees (audit / comp / nom-gov)
Stock ownership guidelineNon-Employee Directors: 5x amount of annual cash retainer
10

Disclosed peer group — fiscal year 2025

The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.

10a

Peer reciprocity

Of the companies Medifast names as compensation peers, which name it back in their own disclosed peer groups. A peer set the market reciprocates reads differently from one selected in a single direction.

Reciprocity shown where the peer's own current proxy has been read — each mark is cited in the register to that peer's filing. A dash means the peer's current proxy was read and names no reciprocal group including Medifast.

10b

Chief executive pay against the peer group

Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company's own proxy statement.

RankCompanyFYChief executiveSalaryStock awardsOption awardsNon-equity incentiveTotal
1Edgewell Personal Care Company2025Rod Little$1,100,000$7,576,100$0$907,500$9,754,366
2Olaplex Holdings, Inc.2025Amanda Baldwin1,000,0005,000,0000515,0006,541,537
3Medifast2025Daniel Chard1,000,0004,567,664005,584,551
4B&G Foods, Inc.2025Kenneth Keller1,224,2582,625,8640710,4374,589,619
5FLOWERS.COM, Inc.2025Adolfo Villagomez107,6921,500,0021,500,00303,107,697
Herbalife Ltd.not in coverage universe

Each peer's compensation is from its most recently filed proxy; fiscal years differ by company. Each peer's figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.

10c

Incentive design against the same peers

CompanyAnnual incentive payoutLong-term vehicle mixPSU measures include TSRCompensation consultant
Medifastnot disclosednot disclosednot disclosednot disclosed
B&G Foods, Inc.not disclosedPSU 50 · Restricted Stock 50not disclosedMeridian Compensation Partners
Edgewell Personal Care Company66%not disclosedNoMeridian
FLOWERS.COM, Inc.not disclosedRSU 50 · PSU 50not disclosedPearl Meyer
Herbalife Ltd.not disclosednot disclosednot disclosednot disclosed
Olaplex Holdings, Inc.103%RSU 100not disclosedAon

Read from each company's Compensation Discussion and Analysis: annual incentive payout as a percentage of target, the disclosed long-term vehicle mix, whether performance-share measures include a total shareholder return component, and the retained compensation consultant. “Not disclosed” appears only where the company's filing does not state the item.

11

Source register

Each figure's location is given both for the eye (section · page · table · row · column) and for a script (table/row/column index and exact character span in the filed document). Any figure can be independently confirmed against the source.

#SupportsDocumentFiledAccessionLocation in document
1Section 01, Daniel ChardDEF 14A2026-04-060001628280-26-023890Section “Executive Compensation”. As printed: 5,584,551. Filing ↗machine: r2 · c48 · span 1222305–1222314
2Section 01, Anthony TyreeDEF 14A2026-04-060001628280-26-023890Section “Executive Compensation”. As printed: 1,484,720. Filing ↗machine: r11 · c48 · span 1240632–1240641
3Section 01, James MaloneyDEF 14A2026-04-060001628280-26-023890Section “Executive Compensation”. As printed: 1,428,396. Filing ↗machine: r5 · c48 · span 1228443–1228452
4Section 01, Nicholas JohnsonDEF 14A2026-04-060001628280-26-023890Section “Executive Compensation”. As printed: 1,195,619. Filing ↗machine: r8 · c48 · span 1234255–1234264
5Section 01, Jason GrovesDEF 14A2026-04-060001628280-26-023890Section “Executive Compensation”. As printed: 1,160,452. Filing ↗machine: r14 · c48 · span 1246455–1246464
6Section 03, Jason Groves PSUDEF 14A2026-04-060001628280-26-023890Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 1310137–1310144
7Section 03, Jason Groves PSUDEF 14A2026-04-060001628280-26-023890Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 1308231–1308238
8Section 03, Daniel Chard PSUDEF 14A2026-04-060001628280-26-023890Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 1285451–1285460
9Section 03, Daniel Chard PSUDEF 14A2026-04-060001628280-26-023890Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 1283542–1283551
10Section 03, Nicholas Johnson PSUDEF 14A2026-04-060001628280-26-023890Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 1297600–1297607
11Section 03, Nicholas Johnson PSUDEF 14A2026-04-060001628280-26-023890Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 1295694–1295701
12Section 03, James Maloney PSUDEF 14A2026-04-060001628280-26-023890Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 1289619–1289626
13Section 03, James Maloney PSUDEF 14A2026-04-060001628280-26-023890Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 1291525–1291532
14Section 03, Anthony Tyree PSUDEF 14A2026-04-060001628280-26-023890Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 1301941–1301947
15Section 03, Anthony Tyree PSUDEF 14A2026-04-060001628280-26-023890Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 1303845–1303851
16Section 07, pay ratioDEF 14A2026-04-060001628280-26-023890Section “CEO Pay Ratio”. As printed: 57 : 1. Filing ↗
17Section 06, 2026 voteForm 8-K2026-05-260001628280-26-038109Item 5.07 · say-on-pay result. As reported: 86.25% (votes for as printed: 3,996,046). Filing ↗
18Section 06, 2025 voteForm 8-K2025-06-200001628280-25-032457Item 5.07 · say-on-pay result. As reported: 59.13% (votes for as printed: 3,585,469). Filing ↗
19Section 06, 2024 voteForm 8-K2024-06-210001628280-24-029369Item 5.07 · say-on-pay result. As reported: 96.52% (votes for as printed: 6,875,928). Filing ↗
20Section 03b vehicle mix (computed)ComputedcomputedRSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).machine: formula: sums + PSU ratio
21Edgewell Personal Care Company, Section 10b CEO totalDEF 14A2025-12-220001104659-25-123567CEO total compensation as printed in Edgewell Personal Care Company's own proxy. As printed: 9,754,366. Filing ↗machine: t89 · r1 · c51 · span 1153139–1153148
22Olaplex Holdings, Inc., Section 10b CEO totalDEF 14A2026-05-290001868726-26-000044CEO total compensation as printed in Olaplex Holdings, Inc.'s own proxy. As printed: 6,541,537. Filing ↗machine: t27 · r3 · c8 · span 629363–629372
23Medifast (subject), Section 10b CEO totalDEF 14A2026-04-060001628280-26-023890CEO total compensation as printed in Medifast's own proxy. As printed: 5,584,551. Filing ↗machine: r2 · c48 · span 1222305–1222314
24B&G Foods, Inc., Section 10b CEO totalDEF 14A2026-04-030001104659-26-039621CEO total compensation as printed in B&G Foods, Inc.'s own proxy. As printed: 4,589,619. Filing ↗
25FLOWERS.COM, Inc., Section 10b CEO totalDEF 14A2025-10-230001084869-25-000025CEO total compensation as printed in FLOWERS.COM, Inc.'s own proxy. As printed: 3,107,697. Filing ↗machine: r3 · c39 · span 333486–333495
26Section 10a, B&G Foods, Inc. reciprocityDEF 14A0001104659-26-039621B&G Foods, Inc.'s most recent proxy was read; its disclosed peer group does not include Medifast. Filing ↗
27Section 10a, Edgewell Personal Care Company reciprocityDEF 14A0001104659-25-123567Edgewell Personal Care Company's most recent proxy was read; its disclosed peer group does not include Medifast. Filing ↗