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The Beachbody Company, Inc. (NYSE:BODI) announced changes to its executive compensation structure, specifically regarding its Executive Chairman, Mark Goldston. On Wednesday, the company’s Compensation Committee approved an increase in Goldston’s annual base salary from March 1, 2025. The company, currently valued at $56.36 million, has maintained impressive gross profit margins of 67% despite recent challenges.
Goldston’s salary will rise to $500,000 annually, reflecting an expanded role and contribution to the company. Additionally, his salary will further increase to $700,000 upon the company’s full repayment of the Blue Torch term loan. The exact date of this additional salary increase will depend on when the loan repayment is completed. According to InvestingPro data, the company holds more cash than debt on its balance sheet, suggesting financial flexibility for such commitments.
This adjustment in executive pay comes as part of the company’s ongoing efforts to align its leadership’s compensation with their responsibilities and the company’s performance objectives.
Beachbody, headquartered in El Segundo, California, operates within the nonstore retail sector, providing fitness, nutrition, and weight-loss programs. The company has been publicly traded since its merger with Forest Road Acquisition Corp., which was completed on October 1, 2020.
Investors and market watchers may view this move as a sign of the company’s confidence in Goldston’s leadership and the strategic direction he is setting for Beachbody. The information disclosed is based on a press release statement filed with the Securities and Exchange Commission.
In other recent news, The Beachbody Company, Inc. announced the upcoming retirement of Chief Operating Officer Kathy Vrabeck, effective April 1, 2025. This announcement was made in a filing with the U.S. Securities and Exchange Commission, marking a significant transition in the company’s executive leadership. No successor has been named yet, and the company has not provided further details on the impact of Vrabeck’s departure on its operations. In another development, Beachbody has amended its bylaws to comply with new universal proxy rules established by the SEC. These changes, now part of the Second Amended and Restated Bylaws, address proxy solicitation and stockholder meeting procedures. The amendments include requirements for proxy card colors and procedural enhancements for stockholder meetings. This move reflects Beachbody’s efforts to align with regulatory requirements and improve its corporate governance practices. The full details of the bylaw amendments are available in the SEC filing.
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