LifeMD (NASDAQ: LFMD) installs new CFO and expands leadership team
Rhea-AI Filing Summary
LifeMD, Inc. announced a planned Chief Financial Officer transition, with current CFO Marc Benathen departing to pursue a new opportunity and remaining through March 31, 2026 to support an orderly handover. He will then provide transition advisory services for six to twelve months for a $38,117 monthly fee and receive COBRA reimbursement through no later than April 1, 2027, while forfeiting any RSUs unvested as of March 31, 2026.
The company appointed Atul Kavthekar as its new CFO effective March 16, 2026, with a base salary of $500,000 and an annual performance bonus targeted at 50% of base salary. As a material employment inducement, he will receive 675,000 RSUs, split evenly between time-based vesting over three years and performance-based vesting tied to company targets.
LifeMD also expanded its leadership team by promoting Chris Pisano to Chief Marketing Officer and Jessica Friedeman to Chief Business Officer, reflecting a broader effort to align finance, marketing, and business development with the company’s next phase of growth.
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Insights
LifeMD restructures its finance and growth leadership while using equity to align its new CFO.
LifeMD is executing a managed CFO succession, keeping outgoing CFO Marc Benathen engaged via a defined transition agreement. His advisory role, monthly service fee of
Incoming CFO Atul Kavthekar receives a
The promotions of Chris Pisano to Chief Marketing Officer and Jessica Friedeman to Chief Business Officer suggest emphasis on scaling marketing and enterprise channels alongside the finance function. Future company filings may clarify how these leadership changes translate into operating metrics such as revenue growth or margin trends.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
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FORM
CURRENT REPORT
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| Item 5.02. | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
CFO Resignation
On March 16, 2026, LifeMD, Inc (“LifeMD” or the “Company”) announced that its Chief Financial Officer Marc Benathen will be departing LifeMD to pursue a new opportunity. Mr. Benathen will remain employed with LifeMD through March 31, 2026, to facilitate a smooth transition in the CFO role. In connection with this transition, the Company and Mr. Benathen entered into a Resignation & Transition Services Agreement, pursuant to which Mr. Benathen has agreed to provide transition advisory services to the Company for six to twelve months after his employment ends, and he will receive a service fee of $38,117 a month. Mr. Benathen will forfeit restricted stock units (“RSUs”) that remain unvested as of March 31, 2026, and subject to the Company’s Incentive Compensation Recovery Policy, will retain all RSUs vested prior to that date. The Company will reimburse Mr. Benathen for personal costs of COBRA benefits for a period ending no later than April 1, 2027. Mr. Benathen did not resign as a result of any disagreement with the Company on any matter relating to the Company’s operations, policies, or practices. The Company thanks Mr. Benathen for his service as Chief Financial Officer and his many other contributions to the Company.
CFO Appointment
On March 16, 2026, the Company publicly announced the appointment of Atul Kavthekar as its new Chief Financial Officer, effective on that date.
Mr. Kavthekar, age 57, brings nearly three decades of executive leadership and financial expertise spanning provider-side healthcare, retail and specialty pharmacy, and e-commerce. He has served as a transformational CFO at a number of public and privately-held healthcare and digital companies. Known for leading successful organic and inorganic growth strategies, he has particular experience in mergers and acquisitions, capital markets and strategic planning.
Mr. Kavthekar served as the Interim Chief Financial Officer for Smile America Partners from May 2025 to March 2026. In this role, he was responsible for the financial oversight and operational leadership for the dental support organization with 500+ clinicians and operations across 20 states. Mr. Kavthekar prepared the business for, and led it through, an M&A exit by the private equity sponsors. Before that, Mr. Kavthekar served as the Special Advisor to the Chief Financial Officer at P3 Health Partners, from 2022 to November 2024, and also as the Special Advisor to the Chief Executive Officer from September to November 2024, conducting financial oversight of a ~500 employee NASDAQ traded value-based care/population health company focused on managing full risk for 125k+ Medicare Advantage members across five states in the Southwest U.S. From 2021 to 2022, Mr. Kavthekar served as Chief Financial Officer of Eyecare Partners, an ophthalmology and optometry practice with over 1,000 providers.
Mr. Kavthekar holds a Bachelor of Science in Engineering Science from University of Michigan, a Master of Science in Industrial Engineering from Wayne State University, and a Master of Business Administration in Finance and Accounting from the University of Chicago.
There are no family relationships between Mr. Kavthekar and any director, executive officer or person nominated or chosen by the Company to become a director or executive officer of the Company. There are no related party transactions between the Company and Mr. Kavthekar reportable under Item 404(a) of Regulation S-K.
In connection with Mr. Kavthekar’s appointment as Chief Financial Officer of the Company, the Company and Mr. Kavthekar entered into an Employment Agreement, pursuant to which Mr. Kavthekar receives a base salary of $500,000, and he is eligible to receive an annual discretionary performance bonus, targeted at 50% of his base salary, with these amounts subject to future adjustment. As a material inducement to his employment, the Company will grant Mr. Kavthekar 675,000 restricted stock units (“RSUs”), of which 337,500 RSUs will vest based on his continued service, with 112,500 RSUs vesting on each of the first, second and third anniversaries of his appointment, and 337,500 RSUs will vest based on the Company’s achievement of performance targets.
In the event of a termination of employment, vesting of the RSUs will cease, except that if the termination is without “Cause” or Mr. Kavthekar resigns for “Good Reason,” as such terms are defined in the Restricted Stock Unit Award Agreement or the Third Amended and Restated 2020 Equity and Incentive Plan, any then unvested, time-based RSUs scheduled to vest in less than one year from the date of such termination shall vest in a pro rata manner. Unvested, time-based RSUs will vest immediately prior to the closing of a “Change of Control,” as defined in the Restricted Stock Unit Award Agreement. The award may be forfeited in the event of Mr. Kavthekar’s breach of certain covenants contained in the Restricted Stock Unit Award Agreement.
Item 5.02 of this Current Report on Form 8-K contains only a brief description of the material terms of and does not purport to be a complete description of the rights and obligations of the parties to the foregoing agreements, and such description is qualified in its entirety by reference to the full text of the agreements, which are filed as exhibits and incorporated by reference into this Current Report on Form 8-K.
| Item 8.01 | Other Events |
On March 16, 2026, the Company issued a press release announcing the resignation of Marc Benathen and appointment of Atul Kavthekar as the Chief Financial Officer of the Company, the promotion of Jessica Friedeman to Chief Business Officer and the promotion of Chris Pisano to Chief Marketing Officer. A copy of the press release is filed as Exhibit 99.1 and is incorporated by reference into this Current Report on Form 8-K.
| Item 9.01. | Financial Statements and Exhibits. |
| Exhibit | Description | |
| 10.1 | Resignation & Transition Services Agreement, dated March 16, 2026, between LifeMD, Inc. and Marc Benathen. | |
| 10.2 | Employment Agreement, dated March 16, 2026 between LifeMD, Inc. and Atul Kavthekar | |
| 99.1 | Press Release, dated March 16, 2026 | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| LIFEMD, INC. | ||
| Dated: March 18, 2026 | By: | /s/ Eric Yecies |
| Eric Yecies | ||
| Chief Legal Officer and General Counsel | ||
Exhibit 99.1
LifeMD Appoints Veteran Healthcare Finance Executive as Chief Financial Officer and Expands Leadership Team
NEW YORK, March 16, 2026 — LifeMD, Inc. (Nasdaq: LFMD), a leading provider of virtual primary care services, today announced the appointment of Atul Kavthekar as Chief Financial Officer, effective today. The Company also announced leadership changes to support its next phase of growth. Marc Benathen, the Company’s current CFO, is departing to pursue a new opportunity and will remain with LifeMD through March 31, 2026, to facilitate a smooth transition.
“We are thrilled to welcome Atul to LifeMD,” said Justin Schreiber, Chairman and CEO of LifeMD. “He is a versatile financial leader who has spent nearly three decades helping healthcare and technology companies scale, and he brings a rare combination of public company rigor, operational depth, and strategic vision. Atul also shares our conviction that AI will fundamentally reshape how healthcare is delivered, and he will work closely with our technology team to ensure LifeMD remains at the forefront of that transformation. I also want to thank Marc Benathen for his meaningful contributions to LifeMD. Marc helped build the foundation that positions us well for the road ahead, and we wish him all the best.”
Mr. Kavthekar is a seasoned financial executive with nearly three decades of leadership experience spanning provider-side healthcare, retail and specialty pharmacy, e-commerce, and technology. He has served as a transformational CFO for both public and privately held growth-stage companies, with a long track record of building scalable financial infrastructure, strengthening operational performance, and driving shareholder value creation. Known for leading successful organic and acquisition growth strategies, he brings deep expertise in capital markets, mergers and acquisitions, and strategic planning.
A technology and AI enthusiast with an engineering background, Mr. Kavthekar will work alongside LifeMD’s technology team to advance the Company’s vision of becoming an AI-first healthcare company — leveraging artificial intelligence to improve patient access to care, enhance clinical outcomes, and reduce operational overhead. At LifeMD, he will focus on building the financial and operational infrastructure to support the Company’s continued growth and long-term value creation. Mr. Kavthekar holds an MBA in Finance and Accounting from the University of Chicago Booth School of Business, an MSE in Industrial Engineering from Wayne State University, and a BSE in Engineering Science from the University of Michigan.
“I have spent my career partnering with management teams, boards, and investors to build the financial infrastructure that enables high-growth companies to scale efficiently and create lasting value,” said Mr. Kavthekar. “LifeMD is at an inflection point, with a vertically integrated platform, expanding insurance capabilities, and a commitment to AI-driven innovation that can meaningfully improve patient outcomes while driving operating leverage. I look forward to helping build the financial and technological foundation for LifeMD’s next chapter.”
In addition, LifeMD appointed Chris Pisano as Chief Marketing Officer to lead the Company’s marketing organization. Mr. Pisano is a seasoned marketing executive with more than 25 years of experience building brands, leading high-performance marketing teams, and delivering measurable business results across healthcare, financial services, technology, e-commerce, and professional services. He brings deep expertise in brand strategy, demand generation, digital marketing, marketing automation, and go-to-market execution. Earlier in his career, Pisano founded a marketing and technology venture that he led for more than two decades, developing and executing enterprise marketing strategies that delivered scalable results and long-term business impact. As CMO, Mr. Pisano will oversee all marketing functions, including brand strategy, marketing communications, digital marketing, and market positioning, while driving cross-selling initiatives and engagement strategies that deepen the patient relationship, increase lifetime value, and strengthen LifeMD’s competitive position. Mr. Pisano holds a BS in Computer Science from the University of Illinois at Chicago.
LifeMD also announced that Jessica Friedeman will assume the newly created role of Chief Business Officer. Ms. Friedeman joined LifeMD in January 2023 as Chief Marketing Officer and has played a pivotal role in the Company’s growth trajectory. Bringing two decades of healthcare marketing expertise, she has helped drive the growth of LifeMD, including the rapid scaling of its weight management program, and provided go-to-market leadership in the launch of multiple new care verticals. In her new role, Jessica will spearhead the launch of LifeMD’s enterprise and employer health offerings, while continuing to serve as General Manager of LifeMD’s comprehensive women’s health division.
“These leadership changes reflect the strength and depth of our management team as we enter the next phase of LifeMD’s growth,” added Mr. Schreiber. “Chris brings more than 25 years of marketing leadership and will be instrumental in scaling our brand, elevating our market position, and driving the full marketing organization forward. Jessica’s expanded responsibilities will unlock new opportunities for enterprise growth and employer health offerings. Combined with Atul’s financial leadership, we have assembled the executive team to take LifeMD to the next level.”
Employment Inducement Grant
In accordance with Nasdaq rules, the Company hereby discloses that as a material inducement to Mr. Kavthekar’s employment, the Company will grant Mr. Kavthekar 675,000 restricted stock units, of which 337,500 units will vest based on his continued service, with 112,500 units vesting on each of the first, second and third anniversaries of his appointment, and 337,500 units will vest based on the Company’s achievement of performance targets.
About LifeMD, Inc.
LifeMD® is a leading provider of virtual primary care. LifeMD offers telemedicine, access to laboratory and pharmacy services, and specialized treatment across more than 200 conditions, including primary care, men’s and women’s health, weight management, and hormone therapy. The Company leverages a vertically integrated, proprietary digital care platform, a 50-state affiliated medical group, a state-of-the-art affiliated pharmacy, and a U.S.-based patient care center to increase access to high-quality and affordable care. For more information, please visit LifeMD.com.
Cautionary Note Regarding Forward Looking Statements
This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended; Section 21E of the Securities Exchange Act of 1934, as amended; and the safe harbor provision of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements contained in this news release may be identified by the use of words such as: “believe,” “expect,” “anticipate,” “project,” “should,” “plan,” “will,” “may,” “intend,” “estimate,” “predict,” “continue,” and “potential,” or, in each case, their negative or other variations or comparable terminology referencing future periods. Examples of forward-looking statements include, but are not limited to, statements regarding our financial outlook and guidance, short and long-term business performance and operations, future revenues and earnings, regulatory developments, legal events or outcomes, ability to comply with complex and evolving regulations, market conditions and trends, new or expanded products and offerings, growth strategies, underlying assumptions, and the effects of any of the foregoing on our future results of operations or financial condition.
Forward-looking statements are not historical facts and are not assurances of future performance. Rather, these statements are based on our current expectations, beliefs, and assumptions regarding future plans and strategies, projections, anticipated and unanticipated events and trends, the economy, and other future conditions, including the impact of any of the aforementioned on our future business. As forward-looking statements relate to the future, they are subject to inherent risk, uncertainties, and changes in circumstances and assumptions that are difficult to predict, including some of which are out of our control. Consequently, our actual results, performance, and financial condition may differ materially from those indicated in the forward-looking statements. These risks and uncertainties include, but are not limited to, “Risk Factors” identified in our filings with the Securities and Exchange Commission, including, but not limited to, our most recently filed Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and any amendments thereto. Even if our actual results, performance, or financial condition are consistent with forward-looking statements contained in such filings, they may not be indicative of our actual results, performance, or financial condition in subsequent periods.
Any forward-looking statement made in the news release is based on information currently available to us as of the date on which this release is made. We undertake no obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise, except as may be required under applicable law or regulation.
Investor Contact
Atul Kavthekar, Chief Financial Officer
investors@lifemd.com
Media Contact
Jessica Friedeman, Chief Business Officer
press@lifemd.com
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FAQ
What leadership changes did LifeMD (LFMD) announce in this 8-K filing?
When is LifeMD CFO Marc Benathen leaving and what are his transition terms?
Who is LifeMD’s new CFO and what is his compensation package?
How are the 675,000 RSUs granted to LifeMD’s new CFO structured?
Did LifeMD indicate any disagreement behind the CFO resignation?
What new responsibilities do the promoted executives at LifeMD (LFMD) have?
Filing Exhibits & Attachments
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