Health In Tech (HIT) exec exit followed by equity-based HITChain consulting deal
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
Health In Tech, Inc. reported that Dustin Plantholt will depart from his role as Chief AI & Marketing Officer, effective April 30, 2026. The company states this change is part of a business transition and not due to any disagreement over operations, policies, or practices.
HITChain Inc., a subsidiary, entered into a Consulting Agreement dated May 1, 2026 with Plantholt Advisory Group LLC, owned and controlled by Mr. Plantholt. Under this arrangement, the consultant will receive monthly compensation and Mr. Plantholt will be granted 500,000 restricted shares of HITChain common stock, vesting in equal monthly installments over 12 months, subject to continued service. Either party may terminate the agreement with ten days’ prior written notice.
Positive
- None.
Negative
- None.
8-K Event Classification
2 items: 5.02, 9.01
2 items
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
Governance
Key personnel changes including departures, elections, or appointments of directors and executive officers.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
Departure effective date: April 30, 2026
Notice date: April 27, 2026
Consulting start date: May 1, 2026
+3 more
6 metrics
Departure effective date
April 30, 2026
Effective date of Dustin Plantholt’s departure as Chief AI & Marketing Officer
Notice date
April 27, 2026
Date formal notice of Mr. Plantholt’s departure was received
Consulting start date
May 1, 2026
Date of Consulting Agreement between HITChain and Plantholt Advisory Group LLC
Restricted Stock Award
500,000 shares
HITChain common stock granted to Mr. Plantholt under the Equity Incentive Plan
Vesting schedule
12 months
Restricted Stock Award vests in equal monthly installments over twelve months
Termination notice period
10 days
Either party may terminate the Consulting Agreement with ten days’ prior written notice
Key Terms
emerging growth company, independent contractor agreement, Restricted Stock Award, Equity Incentive Plan, +1 more
5 terms
emerging growth company regulatory
"Emerging growth company Item 5.02."
An emerging growth company is a recently public or smaller public firm that qualifies for temporary, lighter regulatory and disclosure rules to reduce the cost and effort of being public. For investors, it means the company may provide less historical financial detail and face fewer reporting requirements than larger firms, so it can grow more quickly but also carries higher uncertainty—like buying a promising early-stage product with fewer user reviews.
independent contractor agreement financial
"entered into an independent contractor agreement, dated May 1, 2026"
Restricted Stock Award financial
"Mr. Plantholt will receive 500,000 restricted shares of HITChain’s common stock (the “Restricted Stock Award”)"
A restricted stock award is company shares given to an employee or executive that cannot be sold or fully owned until certain conditions—like staying with the company for a set time or hitting performance targets—are met. Think of it as a gift that only becomes yours after you fulfill specific obligations; for investors, these awards matter because they can increase the total shares outstanding when they vest, reveal how management is being paid and motivated, and create potential selling pressure when restrictions lift.
Equity Incentive Plan financial
"under the HITChain Equity Incentive Plan, which Restricted Stock Award vests"
An equity incentive plan is a program that gives employees, executives or directors the right to receive company stock or options to buy stock as part of their pay. Think of it as offering slices of future company profit to motivate people to boost long‑term performance; for investors it matters because it can align employee goals with shareholder value but also increases the number of shares outstanding, which can dilute existing ownership.
emerging growth company regulatory
"Emerging growth company Item 5.02."
An emerging growth company is a recently public or smaller public firm that qualifies for temporary, lighter regulatory and disclosure rules to reduce the cost and effort of being public. For investors, it means the company may provide less historical financial detail and face fewer reporting requirements than larger firms, so it can grow more quickly but also carries higher uncertainty—like buying a promising early-stage product with fewer user reviews.
FAQ
What leadership change did Health In Tech (HIT) disclose in this 8-K filing?
Health In Tech disclosed that Dustin Plantholt will depart as Chief AI & Marketing Officer effective April 30, 2026. The company notes this change is part of a business transition and not due to any disagreement over its operations, policies, or practices.
How will Health In Tech (HIT) continue working with former executive Dustin Plantholt?
After his departure, HIT’s subsidiary HITChain Inc. will retain Plantholt through a Consulting Agreement with Plantholt Advisory Group LLC. He will provide services as an independent contractor in exchange for monthly compensation and an equity-based Restricted Stock Award in HITChain.
What equity compensation is granted under the HITChain Consulting Agreement?
Mr. Plantholt will receive 500,000 restricted shares of HITChain’s common stock as a Restricted Stock Award. These shares vest in equal monthly installments over twelve months, and vesting is conditioned on the consultant continuing to provide services through each applicable vesting date.
Can the Consulting Agreement between HITChain and Plantholt Advisory Group LLC be terminated early?
Yes. The Consulting Agreement may be terminated by either HITChain or Plantholt Advisory Group LLC. Termination requires ten days’ prior written notice from the party choosing to end the agreement, giving both sides a short but defined notice period to adjust.