LifeVantage board approves new employee incentive plan, reserves 1.5 million shares
The plan, adopted without stockholder approval under Nasdaq inducement rules, is limited to new hires as an incentive for joining the company.
LifeVantage Corporation's Board of Directors approved the LifeVantage Corporation 2026 New Employee Long-Term Incentive Plan on July 31, 2026.1
The new plan carries terms substantially similar to the company's 2017 Long-Term Incentive Plan, except that incentive stock options may not be issued under it and awards may only go to eligible recipients under applicable Nasdaq rules.1 The plan was adopted by the Board without stockholder approval under Rule 5635(c)(4) of the Nasdaq Listing Rules.1
The Board initially reserved 1,500,000 shares of the company's common stock for issuance under awards granted through the plan.1
Under Nasdaq's inducement rule, awards may only go to an employee who has not previously worked for or served on the board of the company or any subsidiary, or who is returning after a genuine break in employment, provided the award is granted in connection with starting employment with the company or a subsidiary and serves as a material inducement to accepting that job.1
The filing states that the description of the plan in the 8-K is not complete and is qualified by the full plan document, which is filed as Exhibit 10.1 to the report.1
The 8-K was signed on behalf of LifeVantage by Chief Financial Officer Carl A. Aure, dated August 3, 2026.1
Written by readthrough’s AI from the linked primary sources and fact-checked against them automatically before publishing. Not investment advice.