Eric Yecies

About Eric Yecies

Eric Yecies is LifeMD’s Chief Legal Officer and General Counsel (since September 2023), and Corporate Secretary (since 2021), with over 20 years of legal, regulatory, compliance, and leadership experience at Holland & Knight (Partner), Goodwin Procter (Senior Associate), and Ropes & Gray (Associate). He holds BA/MA in Biology from the University of Pennsylvania and a JD from NYU School of Law, and has been recognized as AV Rated by Martindale-Hubbell and repeatedly named a New York “Rising Star” and “Super Lawyer” . Age 47 in 2025, he joined LifeMD in 2020; company performance context includes 2024 Telehealth Net Revenue of $158.4M, Cash Rebilling Revenue of $119.8M, Telehealth Adjusted EBITDA of $7.4M, and cumulative TSR of 63.06 for 2024 (base: 12/31/2021), with net loss of $18.7M in 2024 .

Past Roles

Organization	Role	Years	Strategic Impact
Holland & Knight	Senior Counsel then Partner, Intellectual Property Group	2013–2020	Led complex IP matters in healthcare/life sciences; built compliance and legal frameworks
Goodwin Procter LLP	Senior Associate, Patent Litigation	2008–2013	Executed patent litigation strategies for life sciences clients
Ropes & Gray LLP (Fish & Neave IP Group)	Associate	2004–2008	Developed IP legal expertise applicable to telehealth and life sciences environments

External Roles

Professional recognitions: AV Rated (Martindale-Hubbell), New York “Rising Star” and “Super Lawyer” .
No public-company directorships disclosed.

Fixed Compensation

Metric	2020	2022 (Jan)	2022 (Mar)	2022 (Jul)
Base Salary ($)	$270,000	$320,000	$360,000	$324,000 (10% reduction)
Target Bonus (%)	Discretionary (Board)	40% of base salary	40%	40%

Notes:

Yecies’ employment agreement is indefinite term; compensation terms amended over time .

Performance Compensation

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

Notes:

Corporate metrics align incentives to revenue scale, recurring/cash rebilling, and segment profitability (Adjusted EBITDA), supporting pay-for-performance. Executive payouts shown in Proxy were for other NEOs; Yecies’ target bonus is 40% of base salary (actual payout for him not disclosed) .

Equity Ownership & Alignment

Beneficial Ownership (as of April 24, 2023): 212,944 shares (<1%). Composition: 53,500 common shares plus options for 159,444 shares at $7.21 strike (presently exercisable within 60 days) .
Anti-hedging: Company Insider Trading Policy prohibits hedging transactions (e.g., collars/swaps) for directors/officers/employees .
Stock options cancelled and replaced with stock awards (June 15, 2023): 200,000 options (exercise price $7.55) and 105,000 PSUs cancelled; RSUs accelerated and new restricted stock granted (details below) .

Time-Vested and Performance-Based Awards (Post-2nd Amendment)

Award Type	Shares	Vesting Schedule/Conditions
RSUs (from 1/27/2022)	12,500	Remaining tranche accelerated to vest on 6/15/2023
Restricted Shares (time-based)	12,500	Vested immediately on 6/15/2023
Restricted Shares (time-based)	37,500	Vest on 11/20/2023
Restricted Shares (time-based)	100,000	Vest on 1/1/2024
Restricted Shares (performance – revenue & margin)	50,000	Vest upon healthcare business achieving $100M net revenue with 5% adj. EBITDA margin on/before 12/31/2025
Restricted Shares (performance – revenue & margin)	50,000	Vest upon $150M net revenue with 10% adj. EBITDA margin on/before 12/31/2026
Restricted Shares (performance – revenue & margin)	50,000	Vest upon $200M net revenue with 10% adj. EBITDA margin on/before 12/31/2027
Restricted Shares (personal performance)	37,500	Vest on 3/1/2024 (CEO discretion + Board approval)
Restricted Shares (personal performance)	37,500	Vest on 3/1/2025 (CEO discretion + Board approval)

Company performance context vs milestones: 2024 Telehealth Net Revenue ($158.4M) and Adjusted EBITDA ($7.4M) imply ~4.7% Adjusted EBITDA margin for 2024 based on disclosed figures (7.4/158.4), close to but slightly below the 5% threshold for the first revenue/margin milestone; future vesting contingent on meeting conditions by stated dates .

Employment Terms

Agreement term: Indefinite; can be terminated with or without cause .
Severance: 4 months of then-current monthly base salary and continued benefits for the severance period upon termination without cause .
Change-of-control: 100% immediate vesting of awards upon a change in control or termination without cause/for good reason (as defined in agreement) .
Clawback: Compensation Committee administers the incentive compensation recovery policy (company-wide) .
Anti-hedging: Prohibited for directors/officers/employees .
Option grant policy: Company does not currently grant options and would not time grants around MNPI .

Investment Implications

Equity-heavy, milestone-based awards align Yecies with growth and profitability (net revenue and Adjusted EBITDA margin) across 2025–2027; corporate bonus program similarly focused on scale and margins, reinforcing pay-for-performance .
Transition from underwater options ($7.55 strike/$7.21 previously) to time-based and performance RS reduces risk of option misalignment and increases retention through staged vesting; discretionary personal-performance tranches add flexibility but warrant monitoring for rigor .
Supply overhang risk from large time-based vestings (100,000 on 1/1/2024) and potential performance-based vestings in 2025–2027; monitor Form 4 filings and blackout policies for insider selling pressure post-vest .
Severance terms are modest (4 months), while single-trigger change-of-control vesting may incentivize transaction readiness; governance mitigants include anti-hedging and clawback policies .

Key data sources: 2025, 2024, 2023 DEF 14A and 8-K filings; S-8 disclosures and award agreements **[948320_0001641172-25-006444_formdef14a.htm:10]** **[948320_0001641172-25-006444_formdef14a.htm:19]** **[948320_0001641172-25-006444_formdef14a.htm:20]** **[948320_0001641172-25-006444_formdef14a.htm:25]** **[948320_0001493152-24-017032_formdef14a.htm:15]** **[948320_0001493152-24-017032_formdef14a.htm:18]** **[948320_0001493152-23-014083_formdef14a.htm:23]** **[948320_0001493152-23-014083_formdef14a.htm:24]** **[948320_0001493152-23-014083_formdef14a.htm:25]** **[948320_0001493152-23-014083_formdef14a.htm:29]** **[948320_0001493152-23-014083_formdef14a.htm:30]** **[948320_0001493152-23-021726_ex10-3.htm:0]** **[948320_0001493152-23-021726_ex10-3.htm:1]** **[948320_0001493152-23-021726_form8-k.htm:1]** **[948320_0001493152-22-002985_form8-k.htm:1]** **[948320_0001493152-20-023039_formdef14a.htm:29]** **[948320_0001493152-25-001956_forms-8.htm:15]**.