Bahram Akradi
Founder, Chairman, and CEO at LLife Time Group Holdings Inc
Board
Since May 1996
Age
62 years
Tenure
Joined LTH in 1992 as its founder, serving as a director since inception, and was promoted to CEO and Chairman in May 1996.
Also at Life Time Group Holdings Inc
EB
Eric Buss
Executive Vice President & Chief Administrative Officer
EW
Erik Weaver
Executive Vice President & Chief Financial Officer
PJ
Parham Javaheri
Executive Vice President, President of Club Operations, and Chief Property Development Officer
About
Bahram Akradi has built a career spanning over 30 years in the fitness and wellness industry, establishing himself as a leader through his innovative approach to healthy lifestyle initiatives.
Before expanding LTH into a recognized premium brand, he co-founded and led initiatives at U.S. Swim & Fitness Corporation from 1984 to 1989 and played a critical role in launching industry-wide programs that have reshaped fitness experiences.
Outside of LTH, his leadership extends to serving as Chairman of the Board at Northern Oil & Gas Inc., further demonstrating his versatile executive expertise and commitment to driving success across diverse sectors.
$LTH Performance Under Bahram Akradi
Past Roles
| Organization | Role | Date Range | Details |
|---|---|---|---|
| U.S. Swim & Fitness Corporation | Executive Vice President | 1984 - 1989 | Co-founded and led the company |
| Health and Fitness Industry Leadership Council | Founder | N/A | Founded prior to joining LTH |
External Roles
| Organization | Role | Date Range | Details |
|---|---|---|---|
| Northern Oil & Gas Inc. (NYSE: NOG) | Chairman of the Board of Directors | 2017 - Present | Active appointment since 2017 |
Fixed Compensation
Data from FY 2023
| Component Name | Amount | Payment Schedule | Additional Details |
|---|---|---|---|
| Base Salary | $1,500,000 | Annual (2023) | Fixed base salary |
| Car Allowance / Use of Company Car | $12,000 | 2023 | Provided as a benefit |
| Company Car Gross-Up | $5,300 | 2023 | Includes tax gross-up |
| Phone Allowance | $600 | 2023 | Cell phone expense |
| Home Connectivity | $1,839 | 2023 | Internet allowance |
| Executive Long-Term Disability Insurance | $2,220 | 2023 | Non-cash insurance benefit |
| Other (incl. personal administrative support & tax gross-up) | $67,503 | 2023 | Includes $46,847 for administrative support with a $20,656 tax gross-up |
Performance Compensation
Data from FY 2023
Short-Term Incentive Compensation (Bonus Program)
| Performance Metric | Threshold | Target | Maximum | Actual Adjusted EBITDA |
|---|---|---|---|---|
| Adjusted EBITDA | $430 million | $450 million | $470 million | $536.8 million |
Payout Structure & Details:
- Payouts were determined via linear interpolation between the threshold and target, and between target and maximum. Exceeding the maximum performance level resulted in full bonus opportunity.
- Awards were granted as restricted stock units with a grant date stock price of $17.27 per share.
- The performance evaluation covered the full fiscal year 2023.
Additional Performance-Based RSUs
| Metric/Detail | Value | Citation |
|---|---|---|
| Performance Threshold (Adjusted EBITDA) | $430 million | |
| Performance Target (RSU target units) | 173,712 units | |
| Maximum (RSU maximum units) | 217,140 units | |
| Additional RSUs Issued | 43,428 units (difference between target and maximum) | |
| Grant Date | March 9, 2023 | |
| Grant Date Stock Price | $17.27 per share | |
| Grant Date Fair Value | $3,750,008 | |
| Vesting Date | February 29, 2024 |
Annual Equity Grants (Long-Term Incentive Program)
| Component | Detail | Citation |
|---|---|---|
| Stock Options | 392,259 options, with an exercise price of $17.27/sh | |
| Restricted Stock Units (RSUs) | 217,140 units, subject to a performance qualifier requiring Adjusted EBITDA ≥ $450 million | |
| Grant Date | March 9, 2023 | |
| Grant Date Fair Value | Stock Options: $3,749,996, RSUs: $3,750,008; Total: $7,500,000 | |
| Vesting Schedule | Stock Options vest ratably over 4 years starting March 9, 2024; RSUs vest ratably over 4 years starting February 29, 2024 |
Evaluation Period & Performance Condition:
- The evaluation period was for fiscal year 2023. The performance qualifier for the RSUs required Adjusted EBITDA to meet or exceed $450 million. As the actual performance was $536.8 million, the performance conditions were met and awards fully vested.