Jonathan Lockett
About Jonathan Lockett
Jonathan (Del) Lockett, age 64, is Chief Strategy Officer at Health In Tech (HIT) since March 2025; he previously served as Chief Operating Officer (Jan 2022–Mar 2025) and joined HIT as National Sales Director in June 2019 . He studied Information Technology, Accounting, and Economics at Virginia Commonwealth University (1980–1983) and Business Administration at Richard Bland College of William & Mary (1978–1983), without receiving a degree . Company performance during his leadership tenure includes a 2% year-over-year revenue increase in 2024 and profitability, alongside scaling distribution to 417 brokers across 41 states by year-end 2024 .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Health In Tech (HIT) | Chief Strategy Officer | Mar 2025–present | Coordinates with CEO to enhance sales, expand capabilities, and strengthen support systems |
| Health In Tech (HIT) | Chief Operating Officer | Jan 2022–Mar 2025 | Led operations as HIT scaled eDIYBS underwriting and HI Card platform; exec team expanded for growth |
| Health In Tech (HIT) | National Sales Director | Jun 2019–Jan 2022 | Drove broker/channel build-out for small employer self-funded plans |
| Claim Doc, Inc. | President & Director of Operations; Board Member | Not disclosed | Operational leadership and governance experience in healthcare claims |
| Sawgrass Benefit Consultant | Owner/Operator | Not disclosed | Entrepreneurial sales/benefits consulting background |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| Claim Doc, Inc. | Board Member | Not disclosed | Prior board role noted in HIT proxy |
| Sawgrass Benefit Consultant | Owner/Operator | Not disclosed | Private enterprise role |
Fixed Compensation
| Component | Amount/Term | Source |
|---|---|---|
| Base Salary | $360,000 per year (Employment Agreement dated July 27, 2023) | |
| Bonus | Eligible for discretionary annual cash bonus based on individual and company performance; target % not disclosed | |
| Benefits | Eligible for equity incentive plan participation; regular health, life, disability insurance; business expense reimbursement | |
| Employment Status | At-will (same terms structure as other executives) |
Performance Compensation
| Incentive Type | Metric/Design | Weighting | Target | Actual | Payout/Vesting | Source |
|---|---|---|---|---|---|---|
| Annual Cash Bonus | Discretionary; based on individual and company performance (Board-determined) | Not disclosed | Not disclosed | Not disclosed | Cash (if awarded) | |
| Equity – Options | Granted under 2022 Plan; service-based vesting post-IPO; exercisability depends on vest schedule | Not applicable | Not disclosed | Not disclosed | 10-year term typical; vesting by service | |
| Equity – Restricted Stock | Restricted stock with transfer/forfeiture restrictions; vesting may be service and/or performance-based per award agreements | Not applicable | Not disclosed | Not disclosed | Lapse of restrictions per plan/award terms | |
| Clawback | Incentive compensation subject to recoupment upon accounting restatement; policy applies to current/former execs | Not applicable | Not applicable | Not applicable | Excess over restated results recoverable |
Equity Ownership & Alignment
| Ownership Detail | Amount | % of Class A | Notes |
|---|---|---|---|
| Class A Common Stock (beneficial) | 219,964 shares | <1% | As of Sept 8, 2025 |
| Restricted Stock (included above) | 22,105 shares | <1% | Included in beneficial tally |
| Stock Options – exercisable within 60 days | 126,425 shares underlying options | <1% | Counted in beneficial ownership per SEC rules |
| Stock Options – vesting after 60 days | 38,660 shares underlying options (excluded from beneficial tally) | Not applicable | Not counted until exercisable within 60 days |
- Hedging/pledging: HIT insider trading policy prohibits margining or pledging company securities, short sales, and derivatives for directors, officers, employees, and >10% holders .
- 10b5-1 plans permitted: Executives may adopt Rule 10b5-1 trading plans; trades executed per preset parameters .
- Voting control context: Dual-class stock concentrates voting power with CEO/CFO; Lockett holds no Class B .
Employment Terms
| Term | Key Provision | Source |
|---|---|---|
| Agreement Date | July 27, 2023 | |
| Non-Compete / Non-Solicit | Applies during employment and for 2 years thereafter (terms substantially same as CEO/Qian agreements) | |
| Indemnification | Executives entered indemnification agreements in Dec 2024; expense advancement permitted, subject to exceptions | |
| Change-in-Control (Plan-level) | Compensation Committee may accelerate vesting, cash-out, assume/substitute awards, or repurchase outstanding awards for terminated holders | |
| Lock-Up/Trading Restrictions (Post-IPO) | Company and holders subject to 360-day lock-up restrictions post-prospectus date; prohibits sales, pledges, hedges, etc. without underwriter consent | |
| Equity Plan Scope (2024 Plan Amendments) | Increased Class A shares to 10,677,849; authorized up to 2,000,000 Class B shares for executive awards |
Company Performance During Lockett’s Tenure (Recent Quarters)
| Metric | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 |
|---|---|---|---|---|
| Revenue (USD) | $4,904,564 | $8,014,984 | $9,313,849 | $8,490,093 |
Additionally, HIT reported a 2% revenue increase year-over-year in 2024 and maintained profitability, highlighting operational progress during his COO tenure .
Investment Implications
- Alignment and selling pressure: Lockett’s beneficial ownership (<1% Class A; 22,105 RS; 126,425 options counted; 38,660 options vest >60 days) indicates modest insider selling pressure relative to CEO/CFO; policy restrictions and post-IPO lock-up further limit near-term sales/pledging .
- Retention risk: At-will employment with two-year non-compete and broad indemnification reduces transition risk costs but also implies standard retention dynamics; clawback policy strengthens pay-for-performance discipline .
- Incentive structure: Bonus discretion tied to individual/company performance and service-based equity under the 2022/2024 plans suggest emphasis on execution and tenure; lack of disclosed quantitative targets limits external assessment of pay-performance sensitivity .
- Execution track record: Company scaled distribution and achieved 2024 profitability with 2% YoY revenue growth; recent quarterly revenue trajectory reflects growth focus concurrent with his operational leadership and strategic role transition .