Kevin Fuller
About Kevin Fuller
Kevin Fuller, 55, was appointed Global Chief Marketing Officer in September 2024, with prior senior marketing leadership across direct selling and consumer health brands (Nu Skin SVP Global Product & Brand, Pharmanex, USANA; CEO/CMO roles at MacuVu Macular Health and Helo Health). He holds an MBA from Brigham Young University, a B.S. in Biology from the University of Utah, and attended Kellogg’s Executive Education Program for Digital Marketing . Company performance around his tenure: FY2024 net sales $454.4M, net income $7.9M, adjusted EBITDA $40.3M, TSR value of $78.82 based on a December 31, 2021 baseline; Q3 2025 net sales rose 12% to $128.3M and adjusted EBITDA increased 42% to $15.2M .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Helo Health | President & Chief Marketing Officer | Dec 2023 – Oct 2024 | Led marketing and growth for consumer health; prepared for transition to NATR CMO |
| MacuVu Macular Health | Chief Executive Officer & Chief Marketing Officer | May 2022 – Feb 2023 | Ran and marketed vision-health products; operational leadership |
| Nu Skin | SVP Global Product & Brand | Feb 2019 – Mar 2021 | Directed global product and brand strategy in direct selling |
| Pharmanex | Key marketing roles | Not disclosed | Brand/product marketing in nutrition; direct selling expertise |
| USANA | Key marketing roles | Not disclosed | Brand/product marketing in nutrition; direct selling expertise |
External Roles
- Education: Kellogg School Executive Education Program for Digital Marketing .
Fixed Compensation
- Fuller’s individual base salary, target bonus %, and perquisites were not disclosed in the 2025 proxy because he was not a named executive officer (NEO) for FY2024 .
- Company-wide context for NEOs (FY2024): CEO base salary $832,000; CFO $460,000; Asia President $425,000 .
Performance Compensation
- Fuller’s specific annual incentive metrics, targets, and payouts are not disclosed (non-NEO); company’s 2024 NEO annual cash incentive was based on a 50/50 mix of corporate revenue and adjusted EBITDA, with average payout ~60% of target (CEO/CFO at 60%, Asia President at 90% weighted by regional and corporate metrics) .
- Long-term incentive framework at NATR includes RSUs vesting in three equal annual installments and PRSUs that vest upon achieving adjusted EBITDA hurdles; performance shares vest 50% at achievement and 50% one year later (2024-2026 measurement windows) .
Equity Ownership & Alignment
- Fuller is not listed among beneficial owners in the Security Ownership table as of Feb 21, 2025 (directors and NEOs shown); therefore, his beneficial holdings are not disclosed in that section .
- Section 16(a) compliance note: a late Form 4 was filed for Fuller showing shares sold to pay taxes related to a time-based RSU grant (indicative of non-discretionary tax withholding sales rather than open-market selling) .
- Hedging/pledging policy: NATR prohibits executive officers and directors from hedging, pledging, or holding stock in margin accounts, supporting alignment and reducing leverage-related risk .
- Equity plan structure includes time-based RSUs (1–3 year vesting) and performance RSUs tied to adjusted EBITDA and TSR targets; 572,000 RSUs granted across directors/executives/employees in 9M 2025 with vesting conditions as described .
Employment Terms
- No Kevin Fuller-specific employment agreement or severance disclosure found in 8-K or proxy. CEO and NEO terms (context): severance for termination without cause includes base salary continuation (12 months for NEOs; CEO 18 months), COBRA reimbursement (12 months; CEO 18 months), pro-rata bonus; change-in-control payouts are lump-sum multiples of salary+target bonus with full vesting of most equity (PRSUs subject to conditions for certain grants) .
- Clawback policy: incentive compensation subject to recovery in the event of an accounting restatement under SEC and NASDAQ rules .
- Insider trading and governance: robust stock ownership guidelines for directors and executive officers; explicit prohibition on hedging and pledging .
Performance & Track Record
| Metric | FY 2024 | Q3 2025 |
|---|---|---|
| Net Sales ($USD Millions) | 454.4 | 128.3 |
| Net Income ($USD Millions) | 7.9 | GAAP EPS $0.30; Net income $5.3M equivalent |
| Adjusted EBITDA ($USD Millions) | 40.3 (proxy highlights) / 40.544 (recon) | 15.2 |
| TSR (value of $100 initial investment) | $78.82 (as of Dec 31, 2024 referencing 12/31/2021 baseline) | Not disclosed for quarter |
Additional operating highlights: CFO cited 52% YoY growth in North America Digital sales and 30%+ growth in Japan and China in Q3 2025, alongside a 200bps gross margin increase to 73.3% .
Compensation Committee Analysis
- Pay philosophy emphasizes pay-for-performance: annual incentives driven by revenue and adjusted EBITDA; LTIs tied to stock price and adjusted EBITDA; stock ownership guidelines and clawback to ensure governance discipline .
- Benchmarking: peer group across specialty retail and personal products (e.g., Nu Skin, USANA, Medifast, Honest Co., Vital Farms), updated mid-2024 to inform 2025 decisions .
- Say-on-Pay: 89% approval in May 2024; committee maintained compensation approach given shareholder support .
Investment Implications
- Alignment: Prohibitions on hedging/pledging and performance-based PRSUs tied to adjusted EBITDA and TSR support executive-shareholder alignment; Fuller’s RSU tax-withholding sale indicates limited near-term discretionary selling pressure .
- Disclosure gap: Lack of Fuller-specific base salary, bonus targets, and equity grant details (non-NEO) reduces visibility into his personal pay-for-performance mechanics; monitor future proxies for elevation to NEO list or 8-K disclosures .
- Execution signals: Q3 2025 acceleration in digital channels and Asia growth aligns with CMO influence on customer acquisition/retention and brand; sustained margin expansion enhances variable comp attainment probabilities if similar metrics govern broader executives .
- Risk checks: Clawback policy and Section 16 oversight exist; late Form 4s were noted but do not indicate misconduct; no related-party transactions above thresholds since 2023 .