J. Kristofer Galashan
About J. Kristofer Galashan
Independent Director (Class II) at Life Time Group Holdings, Inc. since 2015; age 47. Partner at Leonard Green & Partners (LGP) since 2002, with prior experience in investment banking at Credit Suisse First Boston (formerly Donaldson, Lufkin & Jenrette) in Los Angeles. Serves on the Nominating & Corporate Governance (NCG) and Capital Allocation Committees; assessed as independent under NYSE rules.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Leonard Green & Partners, L.P. | Partner | 2002–present | Private equity investor; supports high-growth, market-leading companies |
| Credit Suisse First Boston (formerly DLJ) | Investment Banking Division | Prior to 2002 | Transaction execution and advisory |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Mister Car Wash, Inc. (NYSE: MCW) | Director | 2014–present | Current public board |
| The Container Store (NYSE: TCS) | Director | 2007–present | Current public board |
| USHG Acquisition Corp. (NYSE: HUGS) | Director | 2021–2022 | SPAC; prior role |
Board Governance
- Committee assignments: Member, Nominating & Corporate Governance Committee (3 meetings in 2024) and Capital Allocation Committee (6 meetings in 2024); both chaired by Bahram Akradi.
- Independence: Board determined he is independent (non-employee, no material relationship).
- Attendance: Board met 6 times in 2024; each director attended ≥75% of aggregate Board and committee meetings; 10 of 12 directors attended the 2024 annual meeting.
- Controlled company: Principal Stockholders collectively own >50%; the company uses controlled company exceptions—NCG and Compensation Committees are not fully independent.
- Nomination rights: LGP currently entitled to nominate (Mr. Danhakl, Mr. Galashan, one vacancy) under the Stockholders Agreement, with tiered thresholds.
Fixed Compensation
| Component (Director) | Amount | Notes |
|---|---|---|
| Annual cash retainer | $0 | Directors nominated by Principal Stockholders (other than Akradi’s designee) do not receive director compensation. |
| Committee chair/member fees | $0 | Not applicable; no director pay for LGP-nominated directors. |
| Equity awards (RSUs) | $0 | Non-employee director RSUs only for eligible paid directors; Galashan not eligible/per proxy. |
| Perquisites | None disclosed | Complementary club memberships provided to certain directors named (Hackwell, Alsfine, Coallier); Galashan not listed among recipients. |
Performance Compensation
| Metric | Metric Design | Applicability to Director |
|---|---|---|
| Annual performance-based equity (director) | RSUs granted to eligible non-employee directors (approx. $155,000 grant-date value) vest by next annual meeting/1 year; accelerates on change of control. | Not applicable to Galashan (no director compensation). |
Other Directorships & Interlocks
- Public company boards: MCW (2014–present), TCS (2007–present), HUGS (2021–2022).
- Principal Stockholder interlocks: LGP is a Principal Stockholder with nomination rights; voting/investment power for LGP entities is shared; Danhakl and Galashan may be deemed to share voting/investment power due to positions but each disclaims beneficial ownership except for pecuniary interest.
- Related-party transactions: Life Time purchases products/services from portfolio companies of LGP and TPG in the ordinary course; each <2% of the counterparty’s consolidated gross revenues; none of Coslet, Danhakl, Galashan, or Hackwell owns ≥10% of their employer or any portfolio company.
Expertise & Qualifications
- Extensive experience investing in and supporting high-growth, market-leading companies; senior private equity background.
Equity Ownership
| Holder | Shares Beneficially Owned | % Outstanding | Notes |
|---|---|---|---|
| J. Kristofer Galashan | — | — | No individual beneficial ownership reported as of March 5, 2025 (217,711,044 shares outstanding). |
| LGP/Green VI entities | 41,553,619 | 19.1% | Voting/investment power shared; Danhakl and Galashan may be deemed to share power via affiliate roles; each disclaims beneficial ownership except for pecuniary interest. |
| Hedging/Pledging | Prohibited | — | Anti-hedging and anti-pledging policy applies to directors. |
Governance Assessment
- Strengths
- Independent status; service on NCG and Capital Allocation committees overseeing governance and capital deployment.
- Board-wide attendance ≥75% and active committee cadence (NCG: 3; CAC: 6).
- Anti-hedging/anti-pledging policy; clear insider trading controls.
- Risks/RED FLAGS
- Controlled company governance: NCG and Compensation Committees not fully independent, reducing minority shareholder protection.
- Principal Stockholder nomination rights (LGP) and related-party transactions with LGP/TPG portfolio companies, albeit quantified as immaterial (<2% revenues).
- Personal ownership alignment: no individually reported beneficial ownership for Galashan; alignment primarily via LGP’s economic stake rather than personal shareholding.
- Shareholder signals
- Say-on-Pay support: 96% approval at 2024 annual meeting (proxy disclosed); 2025 say-on-pay votes “FOR”: 189,949,911; “AGAINST”: 4,258,335; “ABSTAIN”: 24,182; broker non-votes: 4,577,021.
Appendix: Committee Summaries (for context)
- Nominating & Corporate Governance Committee: Identifies board candidates; oversees governance guidelines and ESG initiatives; 3 meetings in 2024; members include Akradi (Chair), Coslet, Danhakl, Galashan, Hackwell.
- Capital Allocation Committee: Oversees capital management, development plans, sale-leasebacks, capex reviews; 6 meetings in 2024; members include Akradi (Chair), Galashan, Hackwell, Landau, Alsfine, Lasher.