Jay Stasz
Planet FitnessAbout Jay Stasz
Jay Stasz, 57, has served as Chief Financial Officer of Planet Fitness since November 15, 2024 (joined November 4, 2024). He brings 25+ years of finance leadership including CFO roles at Savers Value Village and Ollie’s Bargain Outlet, prior senior finance roles at Sports Authority, and earlier experience at Deloitte; he holds a B.S. in Accounting from USC . Under PLNT’s pay-for-performance framework, annual incentives are tied to metrics such as Adjusted EBITDA, system-wide same-club sales EFT dollars, and development (club placements), while long-term PSUs are based on adjusted diluted EPS; in 2024, PLNT delivered $1.2B revenue (+10.3% y/y), Adjusted EBITDA $487.7M (+12% y/y), and 5.0% same-club sales growth .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Savers Value Village | CFO & Treasurer (advisory role through Aug 2024) | 2022–2024 | Led finance at largest for-profit thrift operator in U.S./Canada |
| Ollie’s Bargain Outlet | CFO; previously SVP Finance & CAO | 2018–2022 (CFO); 2015–2018 (SVP/CAO) | Scaled public discount retail finance and reporting functions |
| Sports Authority (incl. Gart Sports pre-merger) | Finance leadership roles | ~1998–2015 | Held various senior finance roles over 17 years |
| Deloitte | Auditor (Audit Dept.) | Early career | Foundation in accounting/audit |
External Roles
No public company board directorships disclosed for Mr. Stasz .
Fixed Compensation
| Component | 2024 | Ongoing Terms |
|---|---|---|
| Base Salary | $66,923 (stub period) | $580,000 annual base salary |
| Target Bonus % | Not eligible for 2024 | 75% of base salary beginning 2025 performance year |
| Other Cash/Benefits | $18,346 (tax gross-up on relocation; temp housing) | Relocation reimbursement up to $100,000; temporary housing stipend $6,500/month for 10 months |
Performance Compensation
Annual Bonus Plan (Context for role; he was not eligible for 2024)
| Metric (CSC Plan) | Weight | Threshold | Target | Max | 2024 Result | Achievement | Notes |
|---|---|---|---|---|---|---|---|
| Adjusted EBITDA ($M) | 33.33% | 434.4 | 482.7 | 531.0 | 487.7 | 101.0% → 110.4% of slice | Company-wide metric |
| System-wide Same Club Sales EFT ($M) | 33.33% | 3,768 | 3,884 | 4,001 | 3,813 | 98.2% → 44.5% of slice | Company-wide metric |
| Total Franchise Club Placements (#) | 33.33% | 116 | 137 | 158 | 124 | 90.5% → 43.2% of slice | Company-wide metric |
2024 cumulative payout under CSC plan was 66.03% of target for participants (Mr. Stasz was ineligible for 2024) .
Equity (Long-Term Incentives) – New Hire Awards (Granted Nov 4, 2024)
| Award Type | Grant Date | Units (Target) | Grant-Date Fair Value | Performance Metric | Vesting |
|---|---|---|---|---|---|
| RSUs | 11/4/2024 | 3,168 | $249,987 | NA | 1/3 on each anniversary from 11/4/2025, 2026, 2027 (service-vesting) |
| PSUs | 11/4/2024 | 3,168 (target) | $249,987 (at target) | Adjusted diluted EPS (3-year period) | Cliff vest 3/15/2027, 0–200% of target based on performance for 2024–2026 |
Outstanding Equity (as of 12/31/2024)
| Holding | Units | Market Value |
|---|---|---|
| Unvested RSUs | 3,168 | $313,220 (at $98.87) |
| PSUs (SEC table reflects 200% scenario) | 6,336 (max reporting) | $626,440 |
Equity Ownership & Alignment
- Beneficial ownership: No beneficial ownership reported for Mr. Stasz as of March 10, 2025 (not a 1% holder; table lists “—”) .
- Stock ownership guidelines: Senior executive officers must hold 3x base salary; until met, must retain 100% of net shares from vesting/exercise . Anti-pledging/hedging: Company policy prohibits hedging, short sales, and pledging; 10b5-1 plans permitted with preapproval .
- Upcoming vesting/supply:
- RSU tranches: ~1,056 shares each on 11/4/2025, 11/4/2026, 11/4/2027, subject to continued employment .
- PSUs: Performance period 2024–2026; vesting/settlement on 3/15/2027 at 0–200% of target based on adjusted diluted EPS .
Employment Terms
- Start/role: Joined Nov 4, 2024; appointed CFO Nov 15, 2024 .
- Compensation terms: $580,000 base salary; 75% target annual bonus starting 2025; relocation reimbursement up to $100k; $6,500/month temporary housing for 10 months .
- Severance & Change-in-Control (Severance Policy):
- Without CIC: 12 months base salary (100%), pro-rated annual bonus, 12 months health premium cash, and 12-month vesting continuation for time-based equity; certain performance awards per policy .
- With CIC (double-trigger): 150% of base salary (lump sum), 100% of target bonus, 12 months health premium cash, and full vesting of time- and performance-based awards at target (with exceptions for completed performance periods) .
- Estimated payouts (as of 12/31/2024): $701,854 (no CIC); $1,948,887 (with CIC), including equity acceleration and health benefits .
- Restrictive covenants: Non-compete and non-solicit for duration tied to severance period (e.g., 12 months for 100% severance; 18 months for 150%) plus confidentiality/non-disparagement .
- Clawbacks: Executive Compensation Recoupment Policy (2019) and NYSE/SEC-compliant 2023 Clawback Policy for incentive-based pay upon accounting restatements .
Governance, Pay Practices, and Signals
- Pay mix/design: Significant equity weighting; 2024 annual grants for NEOs 50% RSUs / 50% PSUs; 2024 PSU performance period extended to 3 years, aligned to adjusted diluted EPS (0–200% payout) . No stock options granted to NEOs in 2024 .
- Say-on-pay: ~94% approval in 2024, indicating broad shareholder support for program design .
- No excise tax gross-ups: Existing agreements do not provide excise tax gross‑ups on severance/CIC benefits .
- Insider trading controls: Preclearance, trading windows, and 10b5‑1 plan requirements; anti-hedging/pledging .
Investment Implications
- Alignment: New-hire equity is modest in size (target ~6,336 shares combined at grant) with multi-year vesting and a PSU tied to adjusted diluted EPS over 3 years—favorable for long-term alignment and reduced near-term selling pressure .
- Retention risk: Severance provides 12 months’ cash and limited post-termination vesting continuation; CIC protection includes 150% salary, 100% target bonus, and full target equity vesting—adequate but not excessive; non-compete/non-solicit length scales with severance (12–18 months), supporting retention and smooth transitions .
- Near-term supply/overhang: RSU tranches begin vesting Nov 2025 with relatively small size; the first sizeable settlement is likely March 2027 (PSUs), contingent on performance, which could create event-driven liquidity needs but is performance-gated .
- Governance risk flags: Robust clawbacks, anti-hedging/pledging, and absence of tax gross-ups mitigate governance risk; no related-party transactions disclosed for Mr. Stasz .