Dennis Wijnker

About Dennis Wijnker

Dennis Wijnker is Chief Technology Officer at LifeMD (appointed 2021). He previously led technology and AI-driven analytics in evidence-based medicine at Doctor Evidence (2009–2021) and held leadership roles at Parexel/Perceptive Informatics (now Calyx). He studied Bio‑Pharmaceutical Sciences at Leiden University. During his tenure, LifeMD’s revenue grew from $119.0M in FY2022 to $212.5M in FY2024, while EBITDA losses narrowed from $38.6M to $14.7M; company TSR (value of $100 investment) measured by the proxy was $29.71 in 2022, $105.61 in 2023, and $63.06 in 2024 . Revenues and EBITDA trends are shown below (EBITDA values from S&P Global).

Metric	FY 2022	FY 2023	FY 2024
Revenue ($USD)	119,033,520	152,547,006	212,453,838
EBITDA ($USD)	-38,597,758*	-13,313,857*	-14,674,300*

Values retrieved from S&P Global.*

Pay-versus-performance TSR reference points: $29.71 (2022), $105.61 (2023), $63.06 (2024) .

Past Roles

Organization	Role	Years	Strategic Impact
Doctor Evidence	Senior Architect; SVP Technology	2009–2021	Built AI-powered analytics for evidence-based medicine; led product/platform innovation
Parexel/Perceptive Informatics (now Calyx)	Technology leadership	Not disclosed	Co-developed configurable EDC platform; introduced clinical data standards integration

External Roles

No current public-company directorships or committee roles disclosed in LFMD’s proxy/bio for Wijnker .

Fixed Compensation

Item	Detail	Effective Date
Base salary	$350,000 under employment agreement	12/13/2021
Base salary	Increased to $385,000	05/01/2023
Base salary	Increased to $404,250	04/01/2024
2024 salary paid	$399,438	FY2024
Target bonus	15% of base salary	Per agreement
2024 discretionary bonus	$32,340	FY2024

Performance Compensation

2024 Corporate Bonus Program (Company-level metrics and payout curve)

Performance Measure	Weight	Threshold (0–75% payout)	Target (100% payout)	Maximum (125–200% + discretion)	2024 Actual	Payout as % of Target Bonus
Telehealth Net Revenue	30%	25% reduction per $1M below target	$135–$145M	25% increase per $1M above; discretionary ≥$150M	$158.4M	200%
Telehealth Cash Rebilling Revenue	30%	25% reduction per $1M below target	$100–$108M	25% increase per $1M above; discretionary ≥$112M	$119.8M	200%
Telehealth Adjusted EBITDA	40%	25% reduction per $1M below target	$0–$7M	25% increase per $1M above; discretionary ≥$11M	$7.4M	100%
Total	100%	—	—	—	—	160%

Notes: Metric definitions provided in the proxy; Telehealth Adjusted EBITDA is non‑GAAP with reconciliation in Appendix A .

2024 Bonus Outcome — Dennis Wijnker

Component	Value
Target bonus ($)	$60,638
Payout (% of target)	213%
Payout amount ($)	$129,360
Additional discretionary bonus ($)	$32,340

Equity Incentives — Structure and Vesting

Award Type	Grant/Action	Vesting/Conditions	Size
Stock options (initial)	80,000 options @ $3.78	Originally vest 12/29/2024; canceled 8/18/2024	80,000
Time-based RS (legacy)	Granted 04/04/2022	Vest 04/04/2025	20,000
Time-based RS (amendment)	Granted 08/18/2024	Vest 01/01/2025	40,000
Time-based RS (amendment)	Granted 08/18/2024	Vest 01/01/2026	40,000
Performance RS (personal)	Granted 08/18/2024	Personal performance over 2 years	50,000
Performance RS (company)	Granted 08/18/2024	Net revenue + adjusted EBITDA margin milestones over 3 years	75,000

Outstanding as of 12/31/2024:

Unvested time-based: 100,000 shares; market value $495,000 at $4.95
Unearned performance-based: 125,000 shares; payout value at target $618,750 at $4.95

Equity Ownership & Alignment

Ownership Item	Amount / %	As of
Beneficial ownership (direct)	110,000 shares	04/23/2025
Ownership % of outstanding	<1% (asterisk in proxy)	04/23/2025
Shares outstanding reference	43,968,450 shares	04/23/2025
Anti-hedging policy	Insider Trading & Anti-Hedging Policy in place	2025 proxy
Pledging	No pledging disclosure for Wijnker in beneficial ownership section	2025 proxy

Vesting overhang considerations:

Near-term supply from time-based tranches vesting 01/01/2025 and 04/04/2025, and 01/01/2026; plus performance tranches contingent on revenue/EBITDA milestones .

Employment Terms

Provision	Term
Agreement	Employment Agreement dated 12/29/2021; indefinite term; terminable with or without cause
Severance	3 months of monthly base salary upon termination without cause
Change-of-control	100% of awards vest immediately upon a Change of Control (definition includes control of board or sale of substantially all assets)
Clawback	Compensation Committee administers incentive compensation recovery policy
Bonus target	15% of base salary under agreement (subject to corporate program outcomes/discretion)

Investment Implications

Pay-for-performance alignment: Annual bonuses tied to growth (Telehealth net revenue and cash rebilling) and profitability (Adjusted EBITDA), with 2024 exceeding targets and Wijnker paid at 213% of target plus a discretionary $32,340, signaling strong operational delivery but some discretionary overlay .
Retention risk neutralized by equity: Significant unvested and performance-based awards (225,000 shares total at year-end 2024) with multi-year and milestone-based vesting create meaningful retention hooks; near-term vesting dates imply potential supply around 1/1/2025, 4/4/2025, and 1/1/2026 .
Alignment: Direct ownership of 110,000 shares (<1%) balances with substantial unvested/performance equity; anti-hedging policy reduces misalignment risk, and no pledging is disclosed for Wijnker .
Change-of-control economics: Single-trigger-like acceleration (immediate vesting upon CoC) could amplify payout sensitivity to strategic transactions; boards/investors should weigh this in M&A scenarios .
Execution track record: Under Wijnker’s technology leadership, LifeMD scaled revenue materially (FY2022–FY2024) while narrowing EBITDA losses, though still negative; this supports incentive targets focused on scaling with improving margins and S&P Global EBITDA values*.