Michelle Oborn
LifevantageAbout Michelle Oborn
Michelle Oborn (age 45) is LifeVantage’s Chief People Officer, appointed in August 2022; she has led the company’s human resources function since 2009 and also serves as a director of LifeVantage Legacy, the company’s non‑profit . She holds a Bachelor of Science in Political Science from the University of Utah, and earlier was a litigation and employment paralegal and a Supreme Court of the United States intern (Rocco C. Siciliano Intern of the Year) . Recent company performance during her executive tenure shows a three-year TSR uplift (value of $100 rising to $206.43) and net income moving from $2.54M (FY2023) to $9.81M (FY2025), with FY2025 revenue cited at $228.53M and FY2025 annual incentive payout determined at 153.4% of target based on revenue, adjusted EBITDA and scorecard results .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| LifeVantage | Chief People Officer | Aug 2022–present | Leads global HR; director of LifeVantage Legacy |
| LifeVantage | Senior Vice President, Human Resources | Nov 2015–Aug 2022 | Led HR function through leadership progression |
| LifeVantage | Vice President, Human Resources | Jul 2012–Nov 2015 | Led HR function; progression to SVP |
| LifeVantage | Director, Human Resources | Feb 2009–Jul 2012 | Built and led HR department |
| Zrii International | Human Resources Manager | 2009 | HR leadership at direct selling wellness company |
| Wrona Law Offices | Litigation & Employment Paralegal | 2005–2008 | Legal support across litigation/employment matters |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| LifeVantage Legacy (non‑profit) | Director | Not disclosed | Company‑sponsored charitable organization |
| Supreme Court of the United States | Intern | 2003 | Rocco C. Siciliano Intern of the Year |
Fixed Compensation
| Metric | FY2016 | Notes |
|---|---|---|
| Base Salary ($) | $225,500 through Mar 1, 2016; increased to $253,000 | Historical snapshot as SVP HR |
Current‑year base salary, target bonus %, and actual cash bonus for Ms. Oborn are not disclosed in recent proxies; the company discloses only “named executive officer” (NEO) compensation.
Performance Compensation
| Program | Metric | Weighting | Target | Actual | Payout Contribution | Vesting |
|---|---|---|---|---|---|---|
| FY2025 Annual Incentive Plan | Global Revenue | 40% | $206.175M | 200% of target | 80% | Cash bonus; plan payout determined post‑year |
| FY2025 Annual Incentive Plan | Adjusted EBITDA | 40% | $20.6M | 141% of target | 56% | Cash bonus; plan payout determined post‑year |
| FY2025 Annual Incentive Plan | Scorecard (Active Accounts, Enrollers, Retention, Evolve, MindBody GLP‑1 launch, E‑commerce) | 20% | Program targets per metric | 100% on five metrics; retention not met | 17% (3%+4%+0%+4%+4%+2%) | Cash bonus; plan payout determined post‑year |
| Program | Metric & Structure | Target/Max | Actual | Payout/Vesting |
|---|---|---|---|---|
| FY2025 PRSUs (executive program design) | Revenue‑based PRSUs: 50% FY2025, 30% FY2026, 20% FY2027; max vest at 200% of target; vest on Aug 31 following each performance year | Max 200% of target for each tranche | FY2025 revenue $228.53M → FY2024 PRSU FY2025 tranche and FY2025 PRSU FY2025 tranche at maximum (200%) | Eligible to vest Aug 31, 2026 (subject to continued service) |
In FY2026, the company added adjusted EBITDA as an additional long‑term metric within PRSUs to tighten linkage to financial performance .
| Historical Award (FY2016) | Grant Date | Type | Grant Value (Fair Value) | Modification Value | Max Value |
|---|---|---|---|---|---|
| SVP HR PRSU award | Jan 4, 2016 | PRSUs | $328,280 | $56,840 (Mar 28, 2016 modification) | $544,620 (at max performance) |
Equity Ownership & Alignment
| Policy Element | Provision |
|---|---|
| Executive equity ownership guidelines | CEO: 5x salary; officers above SVP: 2x salary; SVP: 1x salary; five years to achieve; measured quarterly |
| Net share retention | Executives must retain 100% of net shares from equity vest/exercise for at least one year; until guideline met, retain all net shares |
| Hedging & short sales | Prohibited for all employees and directors (options, derivatives, short sales) |
| Margin/pledging | Inclusion in margin accounts (2025) or pledging as collateral (2024) prohibited without company approval |
| Plan safeguards | Minimum one‑year vesting; no discounted options/SARs; no repricing/cash buyouts; no dividends on unvested shares; share recycling limits |
| Change‑in‑control equity treatment | If awards are not assumed/substituted, service‑based awards fully vest; performance‑based awards vest at greater of target or actual as measured (timing per plan); separate “double‑trigger” acceleration policy applies upon CoC plus qualifying termination within 12 months |
Employment Terms
| Term | Provision |
|---|---|
| At‑will employment | Officers serve at Board’s discretion; employment “at will” |
| Clawback (Recoupment) | Dodd‑Frank‑compliant clawback re‑approved Nov 2024; recovery of excess incentive compensation upon material financial restatement |
| Equity grant timing practices | No grants when material MNPI; quarterly committee grant cadence; annual refresh in Q1; no stock options granted in FY2025 |
Individual severance terms are disclosed for NEOs (CEO: 12 months salary; certain other NEOs: 6 months), but Ms. Oborn’s severance is not disclosed in recent proxies .
Performance & Track Record
| Metric | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| TSR – value of $100 investment | $61.49 | $159.73 | $206.43 |
| Net Income ($USD) | $2,540,000 | $2,937,000 | $9,805,000 |
| FY2025 Corporate Results | Value |
|---|---|
| Revenue ($USD) | $228,530,000 |
| AIP payout (company determination) | 153.4% of target |
Compensation Committee & Peer Benchmarking
- Peer group used for FY2025 benchmarking included health/wellness and personal products peers (e.g., USANA, Medifast, e.l.f. Beauty, Jamieson, PetMed, Mannatech, Beauty Health, Natural Alternatives, Lifeway, Olaplex) .
- Say‑on‑pay approval improved to >73% in FY2025 from ~67% in prior year; committee increased PRSU weighting to 60% and added financial metric alignment in response to shareholder feedback .
Investment Implications
- Alignment: Ownership guidelines (2x salary for officers above SVP) plus mandatory net‑share one‑year hold materially reduce near‑term selling pressure from vesting and align long‑term incentives with shareholders . Hedging, short sales, and pledging without approval are prohibited, limiting misalignment risks .
- Performance linkage: Executive PRSUs weight performance more heavily (60% PRSUs vs 40% RSUs) and now include adjusted EBITDA, tightening pay‑for‑performance; FY2025 revenue outperformance maximized FY2025 PRSU tranches .
- Retention: Long tenure (HR leadership since 2009) and equity retention rules support continuity; however, absence of public severance specifics for Ms. Oborn reduces visibility into individual change‑of‑control economics (company‑wide double‑trigger equity acceleration applies) .
- Governance safeguards: No repricing/cash buyouts, minimum vesting, and a refreshed clawback policy mitigate compensation risk; say‑on‑pay momentum and structured shareholder engagement indicate responsive oversight .