Michael Hargis
About Michael Hargis
Michael Hargis is GoHealth’s Chief Operating Officer (COO), appointed in July 2023 after joining in 2022 as Chief Customer Experience Officer. He previously served as Chief Experience Officer at The Key (2019–2021) and Senior Vice President roles in global customer success and inside sales at NortonLifeLock (2017–2019), following earlier leadership at LifeLock, with prior career experience at GE Capital Financial Services and CareerBuilder. He holds an MBA from Northwestern University’s Kellogg School of Management and a BBA from Thomas More University . Company pay-versus-performance shows cumulative TSR value of a fixed $100 investment of $18.38 (2022), $23.47 (2023), and $23.55 (2024), with net income of $(148.71)M, $(63.26)M, and $(2.93)M respectively, framing the performance backdrop during his tenure transition into COO .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| The Key | Chief Experience Officer | 2019–2021 | Led customer experience for leading senior memory/specialized care provider . |
| NortonLifeLock | SVP Global Customer Success & Inside Sales | 2017–2019 | Oversaw teams serving 50M+ members, driving efficiency/effectiveness across global sales and customer success . |
| LifeLock | SVP Member Services, Consumer Sales & Business Operations | Not disclosed | Improved efficiency/effectiveness in complex operations and customer success organizations . |
| GE Capital Financial Services | Early career positions | Not disclosed | Early career development in financial services . |
| CareerBuilder | Early career positions | Not disclosed | Early career development in technology-enabled talent solutions . |
External Roles
No external board or director roles for Hargis were disclosed .
Fixed Compensation
| Metric | 2023 | 2024 |
|---|---|---|
| Base Salary ($) | $438,462 | $500,000 |
| Target Bonus (% of base) | 80% (adjusted to $400,000 target upon promotion to COO) | 80% |
| Annual Bonus Payout ($) | $0 (negative discretion; no 2023 bonus) | $580,000 (145% of target under Annual Bonus Plan) |
| Annual Bonus Multiplier | n/a | 145% of target |
| Transaction/Discretionary Bonus ($) | $0 | $150,000 (e‑TeleQuote acquisition closing) |
| All Other Compensation ($) | $59,757 | $161,224 |
| Perquisites ($) | $35,613 (housing/travel stipend) | $127,569 (housing/travel stipend) |
| Executive Health Care ($) | $16,030 | $22,931 |
| 401(k) Match ($) | $7,846 | $10,231 |
| Life Insurance ($) | $268 | $493 |
Performance Compensation
Annual Bonus Program (2024)
| Metric | Weighting | Outcome vs Target | Notes |
|---|---|---|---|
| Cash Flow from Operations | 25% | Below threshold | Drove down overall payout on this component . |
| Adjusted EBITDA (ex-LTV lookback) | 25% | Exceeded target | Aligned to profitability goal; payout scale 0–200% . |
| Enrollments & Transfers | 20% | Exceeded maximum | Operational volume execution exceeded max goals . |
| Captive Core Conversion | 20% | Exceeded maximum | Funnel conversion outperformed maximum goals . |
| Revenue Expansion (new revenue streams) | 10% | Exceeded maximum | Growth initiatives outperformed . |
| Total Bonus Payout | — | 145% of target | Applied uniformly to NEOs’ 2024 bonuses . |
Equity Awards (structure, grants, vesting)
| Grant | Shares | Grant Date | Grant Fair Value ($) | Vesting Schedule |
|---|---|---|---|---|
| RSU (2024 annual) | 100,000 | 4/1/2024 | Included in 2024 stock awards total $1,065,000 | Vests 1/3 annually starting 4/1/2025 (3 equal installments) . |
| RSU (2023 grant A) | 50,000 | 3/21/2023 | Included in 2023 stock awards total $1,702,000 | Vests in two equal annual installments; first on 3/21/2024 . |
| RSU (2023 grant B) | 50,000 | 8/9/2023 | Included in 2023 stock awards total $1,702,000 | Vests in three equal annual installments; first on 8/9/2024 . |
| RSU (2022 grant) | 44,444 | 9/12/2022 | Not disclosed | Vests in two equal installments; remaining 22,222 unvested as of 12/31/2024; final vest 9/9/2024 . |
| Options | — | — | — | No option awards disclosed for Hargis . |
| Performance RSUs (PBRSUs) | — | — | — | Hargis did not receive PBRSUs in 2023 or 2024 . |
Near-term vesting calendar (insider selling pressure watchpoints)
- 3/21/2025: RSU installment from 3/21/2023 grant (two-year vesting) .
- 8/9/2025: RSU installment from 8/9/2023 grant (three-year vesting) .
- 4/1/2025, 4/1/2026, 4/1/2027: Three annual installments on 100,000 RSUs granted 4/1/2024 .
Equity Ownership & Alignment
| Metric | As of 4/19/2024 | As of 4/21/2025 |
|---|---|---|
| Class A shares beneficially owned | 40,787 (<1%) | 108,315 (<1%) |
| Options exercisable/unexercisable | None disclosed | None disclosed |
| Unvested RSUs outstanding (count) | 22,222 (2022 grant); 50,000 (3/21/2023); 50,000 (8/9/2023) | 22,222 (2022); 25,000 (3/21/2023); 33,334 (8/9/2023); 100,000 (4/1/2024) |
| Unvested RSUs market value ($) | $296,441 (22,222); $667,000 (50,000); $667,000 (50,000) (at $13.34 on 12/29/2023) | $297,553 (22,222); $334,750 (25,000); $446,342 (33,334); $1,339,000 (100,000) (at $13.39 on 12/31/2024) |
| Hedging/Pledging | Hedging prohibited under Insider Trading Policy; pledging not disclosed . | |
| Stock ownership guidelines | Not disclosed for executives [proxy documents reviewed]. |
Note: Unvested RSU market values calculated by the company using closing prices on the last trading day of the fiscal year and reported within the proxy .
Employment Terms
| Provision | Term |
|---|---|
| Agreement | Amended & restated employment agreement dated 3/4/2024 . |
| Base Salary | $500,000 . |
| Target Bonus | 80% of base salary . |
| 2024 Discretionary Bonus | $150,000 for e‑TeleQuote acquisition closing . |
| 2024 Annual Bonus | 145% of target based on KPI outcomes (see above) . |
| RSU Grant (2024) | 100,000 RSUs; 3-year vesting (first vest 4/1/2025) . |
| Severance (no cause/good reason) | 1 year salary continuation; prior-year bonus (if unpaid) + pro‑rata current-year bonus; 1 year COBRA reimbursement; RSUs scheduled to vest within 12 months post-termination accelerate; subject to release . |
| Severance if within 12 months of Change-in-Control | 2 years salary continuation; prior-year bonus + 200% of pro‑rata current-year bonus; 2 years COBRA reimbursement; non‑compete/non‑solicit for 2 years; RSU acceleration per schedule noted . |
| Restrictive Covenants | Confidentiality (perpetual), invention assignment; non‑compete and non‑solicit 1 year post-employment (2 years if termination within 12 months of CIC) . |
| Clawback Policy | Dodd-Frank compliant clawback policy adopted; recoupment upon certain restatements . |
| Insider Trading Policy | Prohibits hedging/offset transactions in company stock . |
Performance & Track Record (Company context during Hargis’ tenure)
| Metric | 2022 | 2023 | 2024 |
|---|---|---|---|
| Value of $100 investment (TSR) | $18.38 | $23.47 | $23.55 |
| Net Income (USD millions) | $(148.71) | $(63.26) | $(2.93) |
Investment Implications
- Compensation alignment and mix: Hargis’ 2024 compensation skewed more toward cash versus 2023 (annual bonus and a $150,000 deal bonus were paid), while equity remains primarily time-based RSUs without PBRSUs—reducing direct long-term performance linkage compared to CEO structures that include PBRSUs .
- Vesting-driven supply overhang: RSU tranches vest annually on 3/21 (grant A), 8/9 (grant B), and 4/1 (2024 grant), creating predictable Form 4 windows and potential insider selling pressure around those dates; monitor 2025–2027 cycles for liquidity events .
- Retention and CIC economics: Double-trigger CIC protections (2 years salary + enhanced bonus + 2 years COBRA and extended non‑compete) plus 12-month RSU acceleration on separation improve retention, but increase CIC cost and could accelerate equity overhang if a transaction occurs .
- Ownership alignment: Beneficial ownership remains <1% of Class A shares; anti-hedging policy supports alignment; no pledging disclosed—neutral-to-modest alignment signal versus executives with larger personal stakes .
- Operational execution signals: 2024 bonus outcomes (exceeding maximum for three operational metrics and above target for Adjusted EBITDA) indicate strong execution in Hargis’ areas of responsibility (conversion, enrollments/transfers, revenue expansion), supporting near-term operating momentum .
- Administrative risk note: One late Section 16 Form 3 filing was noted in 2024 (appointment reporting) for Hargis—minor administrative issue, not indicative of financial risk .