Carlos Lopez
About Carlos Lopez
Carlos Lopez, 44, is Senior Vice President and General Counsel of Niagen Bioscience, appointed in July 2024 and designated an executive officer in November 2024, overseeing all legal affairs and advising the leadership team . He holds a B.A. in Journalism from the University of Central Florida and a J.D. from New York Law School, and has been an industry leader as co-chair of CRN’s Legal Committee and a former board member of the Natural Products Association . For FY2024, the Annual Incentive Cash Bonus (AICB) used quantitative metrics—net sales achieved 97% of goal and net income (loss) achieved 686%—and qualitative corporate/department goals, with Lopez’s total payout at 92% of target, indicating strong pay-for-performance alignment in his first year .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| The Vitamin Shoppe | Vice President & General Counsel | Jun 2020–Jul 2024 | Led the legal department; provided strategic advice to senior leadership and the board |
| The Vitamin Shoppe | Increasing-responsibility roles | Jun 2014–Jun 2020 | Progressively senior legal roles; positioned at forefront of regulatory/compliance in natural products |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Council for Responsible Nutrition (CRN) | Legal Committee Co-chair | Not disclosed | Industry leadership at the forefront of regulatory and compliance in the sector |
| Natural Products Association | Board Member (former) | Not disclosed | Governance and industry network exposure |
Fixed Compensation
| Year | Base Salary ($) | Target Bonus (%) | Actual Bonus ($) |
|---|---|---|---|
| 2024 | $320,000 | 40% | $49,798 |
Performance Compensation
| Metric | Weighting | Threshold | Target | Max | Actual | Payout Contribution |
|---|---|---|---|---|---|---|
| Total Company – Net Sales | 35% | $92,922 | $103,247 | $113,572 | $99,597 | 28.8% |
| Total Company – Net Income / (Loss) | 30% | (5,481) | (1,820) | 127 | 8,856 | 45.0% |
| Qualitative Corporate Goals | 10% | N/A | N/A | N/A | 37% | 4.4% |
| Qualitative Department Goals (Lopez) | 25% | N/A | N/A | N/A | 55% | 13.8% |
| Total | 100% | 92.0% |
Equity Ownership & Alignment
| Category | Details |
|---|---|
| Beneficial Ownership (shares) | 2,251 shares directly owned |
| Ownership % of Outstanding | <1% of 78,684,309 shares outstanding |
| Options – Unexercisable | 75,877 options granted 7/22/2024; strike $2.97; expire 7/21/2034 |
| Options – Exercisable | 0 within 60 days of 4/25/2025 |
| Vesting Schedule (Options) | 1/3 vest on 7/22/2025; remaining vest in 24 equal monthly installments thereafter, subject to continued service |
| RSUs/PSUs (Lopez) | Not disclosed for Lopez in 2024 proxy tables (company-level RSU/PSU activity disclosed separately) |
Company-level plan terms: As of Q3 2025, RSUs generally vest over 3 years (one-third annually), options granted post-Aug 1, 2025 vest 25% per year over 4 years, and PSUs vest over a 7-year performance window based on stock price VWAP thresholds; certain executive option awards provide for accelerated vesting upon change in control or termination without cause .
Employment Terms
| Term | Lopez Offer Letter |
|---|---|
| Appointment | Senior VP, General Counsel effective July 22, 2024; officer designation November 2024 |
| Base Salary | $320,000 |
| Target Bonus | 40% of base salary |
| Severance | Six months’ base salary upon termination by the Company “Cause” (as defined in the offer letter) |
| Equity Grant (2024) | Options: 75,877 shares; strike $2.97; grant-date fair value $159,928 |
| Vesting (Grant) | 1/3 on 7/22/2025, then 24 monthly installments |
| Change-of-Control | Plan permits Board to accelerate/assume/cancel awards in corporate transactions; certain executive options provide for accelerated vesting on change of control or termination without cause |
Investment Implications
- Pay-for-performance alignment: Lopez’s 2024 bonus was driven primarily by quantitative metrics—net sales and net income—plus qualitative corporate and department goals; his total payout was 92% of target in a year when company net income performance significantly exceeded the goal, indicating strong linkage to results .
- Retention and selling pressure: His first vesting cliff (one-third of options) occurs on 7/22/2025 with monthly vest thereafter; upcoming vest dates can create incremental selling pressure when options become exercisable, especially given low current share ownership levels .
- Alignment and skin-in-the-game: Direct ownership is minimal (<1%), with alignment primarily through options rather than sizable RSU/PSU holdings; investors should monitor any future equity grants and adherence to potential stock ownership guidelines if disclosed in future proxies .
- Change-of-control economics: Plan-level provisions allow for accelerated vesting or substitution in corporate transactions, and certain executive options include accelerated vesting on change in control or termination without cause, which could increase realized compensation in strategic scenarios .
- Severance structure: Six months’ base salary severance as stated in the offer letter is modest versus peers, reducing parachute risk; however, exact triggers are notable (the offer letter language references termination by the Company “Cause”) and warrant confirmation in any amended agreements .