Ryan Hansen
About Ryan Hansen
Ryan Hansen is Executive Vice President at FitLife Brands (FTLF), age 37, appointed November 27, 2023, and serves as an at‑will employee without a formal employment agreement . He holds an MBA with distinction from Harvard Business School (2017) and Bachelor’s and Master’s degrees in Accounting from Brigham Young University (2012); prior roles include Bain & Company (2017–2021), COO at Pearl Street Dental Partners (2021–2023), and product management/business analyst at Worthington Industries (2012–2015) . Company performance context: net income rose 70% YoY in 2024 to $8.984M and the company’s TSR “value of $100” increased to 204, reflecting strong alignment of pay programs with corporate results at the aggregate level .
Company Performance Context
| Metric | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|
| Net Income ($USD) | $4,429,000 | $5,296,000 | $8,984,000 |
| TSR – Value of Initial $100 | 100 | 119 | 204 |
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Pearl Street Dental Partners | Chief Operating Officer | Feb 2021 – Jun 2023 | Operational leadership at PE‑backed dental platform headquartered in Dallas, TX |
| Bain & Company | Consultant | Jul 2017 – Feb 2021 | Management consulting; built strategy/operational toolkit |
| Worthington Industries (NYSE: WOR) | Product Management / Business Analyst | 2012 – 2015 | Product and analytical roles in industrials |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| — | — | — | None disclosed for public company boards or other external directorships |
Fixed Compensation
| Component | 2023 | 2024 | Notes |
|---|---|---|---|
| Base Salary | $14,423 | $253,692 | Joined Nov 27, 2023 at $250,000 base; increased to $262,000 effective Aug 29, 2024 |
| Base Salary (policy) | — | $250,000 initial; $262,000 post‑8/29/24 | At‑will; no formal employment agreement |
Performance Compensation
Annual Cash Bonus
| Metric | Weighting | Target | Actual | Payout Mechanics | Vesting |
|---|---|---|---|---|---|
| Annual performance‑based cash bonus | Not disclosed | Not disclosed | $50,000 for 2024 | Company historically references net income as a performance measure | Cash, N/A |
Equity – Stock Options
| Grant Date | Type | Shares | Exercise Price | Vesting Schedule | Expiration |
|---|---|---|---|---|---|
| 11/27/2023 | Stock Options | 222,000 | $9.60 | 1/3 vested at grant (74,000) on 11/27/2023; remaining 74,000 on 11/27/2024; final 74,000 on 11/27/2025 | 11/27/2028 |
Outstanding Equity Awards (as of 12/31/2024)
| Exercisable Options | Unexercisable Options | Exercise Price | Expiration |
|---|---|---|---|
| 148,000 | 74,000 | $9.60 | 11/27/2028 |
Note: Beneficial ownership table (as of June 20, 2025) reports 127,200 options “exercisable within 60 days” under SEC rules, which may differ from year‑end “exercisable” counts due to 60‑day timing conventions .
Equity Ownership & Alignment
| Item | Value | Notes |
|---|---|---|
| Total Beneficial Ownership | 152,878 shares (1.6%) | Calculated on 9,391,072 shares outstanding at June 20, 2025 |
| Direct/Common Shares | 25,678 shares | Held personally |
| Options counted in beneficial ownership | 127,200 at $9.60, exercisable within 60 days | SEC 60‑day rule; footnote (3) |
| Pledging / Hedging | Not disclosed | Insider Trading Policy on file; pledging specifics not disclosed |
| Executive Stock Ownership Guidelines | Not disclosed | Director Stock Purchase Program exists (20% of retainer), director‑focused |
Employment Terms
| Term | Disclosure |
|---|---|
| Employment start date | November 27, 2023 |
| Role | Executive Vice President |
| Age | 37 |
| Contract | At‑will; no formal employment agreement |
| Severance | Not disclosed |
| Change‑of‑Control (trigger/multiples/accelerated vesting) | Not disclosed |
| Non‑compete / Non‑solicit | Not disclosed |
| Clawback provisions | Not disclosed; general Code/Insider Trading Policy referenced |
| Perquisites / Tax gross‑ups | Not disclosed |
| Deferred compensation / Pension/SERP | Not disclosed |
Compensation History (Multi‑Year)
| Metric | 2023 | 2024 |
|---|---|---|
| Salary ($) | $14,423 | $253,692 |
| Bonus ($) | — | $50,000 |
| Stock Awards ($) | — | — |
| Option Awards ($) | $963,480 | — |
| All Other Compensation ($) | — | — |
| Total ($) | $977,903 | $303,692 |
Governance & Shareholder Signals
| Item | 2025 Result |
|---|---|
| Say‑on‑Pay (advisory) | For: 6,521,001; Against: 64,922; Abstain: 5,010 — approved |
| Say‑on‑Frequency | 3 years selected (Votes: 3 Years: 5,979,100; 1 Year: 605,602; 2 Years: 2,695; Abstain: 3,536) |
| Section 16 compliance | Company states filings were timely and current |
Investment Implications
- Alignment: Hansen’s package skews toward equity via a sizable, time‑vested option grant ($9.60 strike; 222,000 shares) that completes vesting on November 27, 2025, aligning retention through 2025 and creating potential exercise/sale decision points around vest dates and expiry (2028) . Company‑level metrics (Net Income up 70% in 2024; TSR “value of $100” at 204) suggest pay programs broadly track performance, though specific bonus targets/weights are not disclosed .
- Retention risk: At‑will status without severance or change‑of‑control protections indicates limited contractual retention levers; completion of vesting in late 2025 could modestly elevate mobility optionality thereafter .
- Trading signals: Upcoming final vest tranche on 11/27/2025 (74,000 shares) may increase exercisable supply; beneficial ownership shows 127,200 options exercisable within 60 days as of 6/20/25, and 25,678 shares held directly, offering transparency into near‑term potential selling pressure but no pledging/hedging policy specifics disclosed .
- Governance support: Strong 2025 Say‑on‑Pay approval and triennial frequency selection reduce near‑term compensation controversy risk; continued disclosure gaps (no explicit clawback, severance/CIC terms, or executive ownership guidelines) warrant monitoring, especially as scale increases .