Jakob York
About Jakob York
Jakob York, age 48, has served as Chief Financial Officer of FitLife Brands since August 2022. He is a CPA with a Bachelor’s and Master’s in Accounting from Brigham Young University, with prior leadership roles in controllership and financial reporting at Greenidge Generation Holdings (Nasdaq: GREE) and Allied Motion (now Allient Inc., Nasdaq: ALNT), and earlier audit experience at PwC from 2002–2007 . Company performance during his tenure includes net income rising to $8.984M in FY 2024 from $5.296M in FY 2023 , while revenues grew over the same period; the company reports using net income as a key performance measure in its executive compensation program .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Greenidge Generation Holdings (GREE) | Controller | Pre-2022 (prior to joining FTLF) | Led controllership at a public company; strengthened reporting rigor |
| Allied Motion / Allient Inc. (ALNT) | Controller and financial reporting roles | Pre-2022 | Advanced financial reporting processes across industrial operations |
| PricewaterhouseCoopers (PwC) | Auditor | 2002–2007 | Built foundational audit and GAAP expertise |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Not disclosed | — | — | No outside public company directorships disclosed in proxy biography |
Fixed Compensation
| Metric | FY 2022 | FY 2023 |
|---|---|---|
| Base Salary ($) | $69,230 | $204,616 |
| Target Bonus (%) | Not disclosed | Not disclosed |
| Actual Cash Bonus ($) | — | $40,000 |
| Option Awards – Grant Date Fair Value ($) | $89,700 | $16,060 |
| Total Reported Compensation ($) | $158,930 | $260,676 |
| Base Salary Actions | Joined as CFO on Aug 15, 2022 with $200,000 base; increased to $215,000 on Aug 28, 2023 | $215,000 in effect from Aug 28, 2023 |
Performance Compensation
| Incentive Type | Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|---|
| Annual cash bonus | Corporate performance (company states emphasis on net income as a performance measure) | Not disclosed | Not disclosed | FY 2023: Performance year concluded with net income $5.296M | $40,000 (FY 2023 bonus) | N/A |
| Equity options (Aug 15, 2022 grant) | Time-based vesting | N/A | 25% immediate; 75% over 3 years | In progress through Aug 15, 2025 | Grant-date FV $89,700 | 25% at grant; remaining in 3 annual tranches |
| Equity options (Aug 15, 2023 grant) | Time-based vesting | N/A | 25% immediate; 75% over 3 years | In progress through Aug 15, 2026 | Grant-date FV $16,060 | 25% at grant; remaining in 3 annual tranches |
The proxy does not disclose specific CFO bonus performance metrics, targets, or weightings; company narrative emphasizes net income used historically in executive compensation .
Equity Ownership & Alignment
- Stock ownership guidelines: The proxy discloses a Director Stock Purchase Program (20% of director cash retainer to be used to buy FTLF stock) for independent directors; no executive stock ownership guidelines disclosed for CFO .
- Insider Trading Policy adopted; specific hedging/pledging prohibitions not detailed in proxy .
Beneficial Ownership (CFO)
| As-of Date | Shares Owned Directly/IRA | Options Exercisable within 60 Days | Total Beneficial Ownership | % of Outstanding |
|---|---|---|---|---|
| Jul 1, 2024 | 3,484 | 8,500 (7,500 @ $15.65; 1,000 @ $18.15) | 11,984 | <1% |
| Jun 20, 2025 | 6,968 | 24,000 @ $7.83; 3,000 @ $9.08; 1,000 @ $16.60 (total 28,000) | 30,968 | <1% |
Options Detail and Vesting Status (historical snapshots)
| Grant Date | Exercisable | Unexercisable | Strike ($) | Expiration | Vesting Notes |
|---|---|---|---|---|---|
| Aug 15, 2022 | 5,000 | 5,000 | 15.65 | Aug 15, 2027 | 25% at grant; remainder annually through Aug 15, 2025 |
| Aug 15, 2023 | 500 | 1,500 | 18.15 | Aug 15, 2028 | 25% at grant; remainder annually through Aug 15, 2026 |
| As of Jun 20, 2025 (beneficial disclosure) | 20,000 | — | 7.83 | Not disclosed | Exercisable within 60 days |
| As of Jun 20, 2025 (beneficial disclosure) | 3,000 | — | 9.08 | Not disclosed | Exercisable within 60 days |
| As of Jun 20, 2025 (beneficial disclosure) | 1,000 | — | 16.60 | Not disclosed | Exercisable within 60 days |
No pledging or hedging exceptions disclosed; policy references Insider Trading and Unauthorized Disclosure Policy filed with 10-K exhibits .
Employment Terms
- Start date: Aug 15, 2022 as CFO .
- Contract/term: The proxy details salary actions and equity grants but does not disclose an employment agreement, severance, or change-in-control provisions specific to the CFO; non-compete/non-solicit terms for CFO are not disclosed .
- Indemnification: Directors and officers indemnified per Nevada law; exclusions for gross negligence/willful misconduct noted .
Company Performance Context
| Metric | FY 2023 | FY 2024 |
|---|---|---|
| Revenues ($) | $52,700,000 | $64,468,999 |
| EBITDA ($) | $9,594,000* | $13,482,000* |
| Net Income ($) | $5,296,000 | $8,984,000 |
- Values retrieved from S&P Global.
- Pay-vs-Performance: Company reports compensation analysis showing net income up 70% in FY 2024 vs FY 2023, and an increase in Company TSR in 2024; management states annual performance-based bonuses and equity awards are used to incentivize defined annual goals .
Investment Implications
- Compensation alignment: CFO cash compensation (salary + bonus) remains modest relative to CEO and tied to corporate performance narratives; with net income emphasized in pay design, alignment to profitability is favorable though specific CFO targets/weights are not disclosed .
- Retention and selling pressure: CFO holds a small equity stake (<1%) but has meaningful, low-strike option exposure now exercisable within 60 days (notably $7.83 and $9.08 strikes), which could create periodic selling pressure upon exercises; absence of disclosed executive ownership guidelines reduces structural alignment incentives vs. director program .
- Change-of-control/severance risk: No CFO-specific employment agreement or severance/change-in-control terms disclosed, implying lower contingent liabilities for shareholders but also fewer retention protections in corporate transactions .
- Governance and risk signals: Insider Trading Policy and standard indemnification are in place; no related-party transactions or clawback specifics disclosed for CFO; lack of pledging/hedging explicit prohibitions in proxy is a monitoring point, though policy exists via 10-K exhibits .
- Performance backdrop: Revenue and EBITDA growth through FY 2024, with net income up significantly, supports pay-for-performance narrative; continued execution on profitability metrics remains the key lever for incentive payouts and potential insider exercises (and sales)* .
- EBITDA values retrieved from S&P Global.