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[8-K] Xponential Fitness, Inc. Reports Material Event

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
8-K
Rhea-AI Filing Summary

On 7 Aug 2025, Xponential Fitness, Inc. (NYSE: XPOF) filed an 8-K announcing a leadership transition.

  • Appointment: Mike Nuzzo, 54, becomes Chief Executive Officer and Class III director effective immediately; he will not join Board committees.
  • Background: Former CEO of Eyemart Express (2022-2025) and ex-COO/CFO at Petco, with prior senior finance roles at GNC and Abercrombie & Fitch.
  • Compensation: $800,000 base salary; annual cash bonus up to 100% of salary; RSUs worth $3.5 m granted 21 Aug 2025â€�50 % time-vest over 12-36 months, 50 % price-vest at $16, $25, $30 (20-day average) within 36 months.
  • Severance: If terminated without cause or for good reason, Nuzzo receives 12 monthsâ€� salary, prorated bonus, COBRA reimbursement, and prorated equity vesting; benefits expand if termination follows a Change in Control within 12 months.
  • Restrictive covenants: 12-month post-termination non-solicit, perpetual confidentiality and non-disparagement, plus invention assignment.
  • Outgoing CEO: Mark King resigned as CEO and director effective 7 Aug 2025.
  • Exhibits: 10.1—Employment Agreement; 99.1—Press Release; 104—Inline XBRL cover data.

Il 7 agosto 2025, Xponential Fitness, Inc. (NYSE: XPOF) ha presentato un modulo 8-K annunciando un cambio nella leadership.

  • Nomina: Mike Nuzzo, 54 anni, è stato nominato Amministratore Delegato e direttore di Classe III con effetto immediato; non farà parte dei comitati del Consiglio.
  • Esperienza: Ex CEO di Eyemart Express (2022-2025) e ex COO/CFO di Petco, con precedenti ruoli senior in ambito finanziario presso GNC e Abercrombie & Fitch.
  • Retribuzione: Stipendio base di 800.000 dollari; bonus annuale in contanti fino al 100% dello stipendio; RSU per un valore di 3,5 milioni di dollari assegnate il 21 agosto 2025 â€� il 50% si maturerà nel tempo tra 12 e 36 mesi, il restante 50% si maturerà al raggiungimento di prezzi azionari di 16, 25 e 30 dollari (media su 20 giorni) entro 36 mesi.
  • Indennità di fine rapporto: In caso di licenziamento senza giusta causa o per giusta ragione, Nuzzo riceverà 12 mesi di stipendio, bonus proporzionato, rimborso COBRA e maturazione proporzionale delle azioni; i benefici aumentano se il licenziamento avviene entro 12 mesi da un Cambio di Controllo.
  • Clausole restrittive: Non sollecitazione per 12 mesi dopo la fine del rapporto, obbligo perpetuo di riservatezza e non denigrazione, oltre all’assegnazione delle invenzioni.
  • CEO uscente: Mark King si è dimesso da CEO e direttore con effetto dal 7 agosto 2025.
  • Allegati: 10.1—Contratto di Lavoro; 99.1—Comunicato Stampa; 104—Dati Inline XBRL.

El 7 de agosto de 2025, Xponential Fitness, Inc. (NYSE: XPOF) presentó un formulario 8-K anunciando una transición en el liderazgo.

  • Nombramiento: Mike Nuzzo, 54 años, asume como Director Ejecutivo y director de Clase III con efecto inmediato; no formará parte de los comités del Consejo.
  • Antecedentes: Ex CEO de Eyemart Express (2022-2025) y ex COO/CFO de Petco, con cargos financieros senior previos en GNC y Abercrombie & Fitch.
  • °ä´Ç³¾±è±ð²Ô²õ²¹³¦¾±Ã³²Ô: Salario base de 800,000 dólares; bono anual en efectivo de hasta el 100% del salario; RSU por valor de 3.5 millones otorgadas el 21 de agosto de 2025 â€� 50% se consolidará por tiempo entre 12 y 36 meses, 50% se consolidará por precio a 16, 25 y 30 dólares (promedio de 20 días) dentro de 36 meses.
  • ±õ²Ô»å±ð³¾²Ô¾±³ú²¹³¦¾±Ã³²Ô: Si es despedido sin causa o por razón válida, Nuzzo recibirá 12 meses de salario, bono prorrateado, reembolso COBRA y consolidación prorrateada de acciones; los beneficios aumentan si el despido ocurre dentro de 12 meses tras un Cambio de Control.
  • Cláusulas restrictivas: No solicitación por 12 meses tras la terminación, confidencialidad y no denigración perpetuas, además de cesión de invenciones.
  • CEO saliente: Mark King renunció como CEO y director con efecto desde el 7 de agosto de 2025.
  • Anexos: 10.1—Contrato de Empleo; 99.1—Comunicado de Prensa; 104—Datos Inline XBRL.

2025ë…� 8ì›� 7ì�, Xponential Fitness, Inc. (NYSE: XPOF)ëŠ� 리ë”ì‹� êµì²´ë¥� 알리ëŠ� 8-K 서류ë¥� 제출했습니다.

  • 임명: 마ì´í� 누조(54ì„�)ê°€ 즉시 효력ì� 발휘하는 최고경ì˜ìž�(CEO) ë°� 3ê¸� ì´ì‚¬ë¡� 임명ë˜ì—ˆìœ¼ë©°, ì´ì‚¬íš� 위ì›íšŒì—ëŠ� 참여하지 않습니다.
  • 경력: Eyemart Expressì� ì � CEO(2022-2025)ì´ë©°, Petcoì—서 COO/CFOë¥� 역임했고, GNC와 Abercrombie & Fitchì—서 고위 재무 ì§ì±…ì� 맡았습니ë‹�.
  • 보수: 기본 ì—°ë´‰ 80ë§� 달러; ì—°ê°„ 현금 보너ìŠ� 최대 ì—°ë´‰ì� 100%; 2025ë…� 8ì›� 21ì� ë¶€ì—¬ëœ 350ë§� 달러 ìƒë‹¹ì� RSU â€� 50%ëŠ� 12~36개월ì—� ê±¸ì³ ì‹œê°„ì—� ë”°ë¼ ì·¨ë“, 나머지 50%ëŠ� 36개월 ë‚´ì— 16달러, 25달러, 30달러(20ì� í‰ê·  ê°€ê²�) 달성 ì‹� ì·¨ë“.
  • 퇴ì§ê¸�: 정당í•� 사유 없는 í•´ê³  ë˜ëŠ” 정당í•� ì´ìœ ë¡� ì¸í•œ í•´ê³  ì‹�, 누조ëŠ� 12개월 급여, 비례 보너ìŠ�, COBRA ë³´í—˜ë£� 환급, 비례 ì£¼ì‹ ì·¨ë“ì� 받으ë©�, 12개월 ë‚� ê²½ì˜ê¶� ë³€ê²� í›� í•´ê³  ì‹� 혜íƒì� 확대ë©ë‹ˆë‹�.
  • 제한 ì¡°í•­: í‡´ì§ í›� 12개월ê°� ì˜ì—… ë°©í•´ 금지, ì˜êµ¬ì ì¸ 비밀 유지 ë°� 비방 금지, 발명ê¶� ì–‘ë„ ì˜ë¬´ í¬í•¨.
  • 퇴임 CEO: ë§ˆí¬ í‚¹ì€ 2025ë…� 8ì›� 7ì¼ë¶€ë¡� CEO ë°� ì´ì‚¬ì§ì—ì„� 사임했습니다.
  • 첨부 문서: 10.1—고ìš� 계약ì„�; 99.1—보ë„ìžë£�; 104—ì¸ë¼ì¸ XBRL 표지 ë°ì´í„�.

Le 7 août 2025, Xponential Fitness, Inc. (NYSE : XPOF) a déposé un formulaire 8-K annonçant une transition de direction.

  • Nomination : Mike Nuzzo, 54 ans, devient Directeur Général et administrateur de classe III avec effet immédiat ; il ne participera pas aux comités du conseil d'administration.
  • Parcours : Ancien PDG d'Eyemart Express (2022-2025) et ancien COO/CFO chez Petco, avec des postes financiers seniors chez GNC et Abercrombie & Fitch.
  • Rémunération : Salaire de base de 800 000 $ ; prime annuelle en espèces pouvant atteindre 100 % du salaire ; unités d'actions restreintes (RSU) d'une valeur de 3,5 millions de dollars attribuées le 21 août 2025 â€� 50 % acquises dans le temps sur 12 à 36 mois, 50 % acquises selon le cours à 16, 25 et 30 $ (moyenne sur 20 jours) dans les 36 mois.
  • Indemnités : En cas de licenciement sans motif valable ou pour une bonne raison, Nuzzo recevra 12 mois de salaire, une prime au prorata, un remboursement COBRA et une acquisition d'actions au prorata ; les avantages sont étendus si le licenciement suit un changement de contrôle dans les 12 mois.
  • Clauses restrictives : Non-sollicitation de 12 mois après la fin du contrat, confidentialité et non-dénigrement perpétuels, ainsi qu’une cession des inventions.
  • PDG sortant : Mark King a démissionné de ses fonctions de PDG et d’administrateur avec effet au 7 août 2025.
  • Pièces jointes : 10.1—Contrat de travail ; 99.1—Communiqué de presse ; 104—Données Inline XBRL.

Am 7. August 2025 reichte Xponential Fitness, Inc. (NYSE: XPOF) ein 8-K ein, um einen Führungswechsel bekannt zu geben.

  • Ernennung: Mike Nuzzo, 54 Jahre alt, wird mit sofortiger Wirkung zum Chief Executive Officer und Direktor der Klasse III ernannt; er wird nicht in Ausschüssen des Vorstands tätig sein.
  • Hintergrund: Ehemaliger CEO von Eyemart Express (2022-2025) und ehemaliger COO/CFO bei Petco, mit früheren leitenden Finanzpositionen bei GNC und Abercrombie & Fitch.
  • ³Õ±ð°ù²µÃ¼³Ù³Ü²Ô²µ: Grundgehalt von 800.000 USD; jährlicher Barbonus von bis zu 100 % des Gehalts; am 21. August 2025 gewährte Restricted Stock Units (RSUs) im Wert von 3,5 Mio. USD â€� 50 % zeitabhängig über 12â€�36 Monate, 50 % preisabhängig bei 16, 25 und 30 USD (20-Tage-Durchschnitt) innerhalb von 36 Monaten.
  • Abfindung: Bei Kündigung ohne Grund oder aus wichtigem Grund erhält Nuzzo 12 Monate Gehalt, anteiligen Bonus, COBRA-Erstattung und anteilige Aktienfreigabe; die Leistungen erweitern sich, wenn die Kündigung innerhalb von 12 Monaten nach einer Kontrollwechsel erfolgt.
  • Einschränkende Klauseln: 12-monatiges Wettbewerbsverbot nach Beendigung, dauerhafte Vertraulichkeits- und Nicht-Diskreditierungspflichten sowie Erfindungsabtretung.
  • Abgehender CEO: Mark King trat mit Wirkung zum 7. August 2025 als CEO und Direktor zurück.
  • Anlagen: 10.1—Arbeitsvertrag; 99.1—Pressemitteilung; 104—Inline XBRL-Coverdaten.
Positive
  • Experienced leadership: Nuzzo’s track record at Petco, GNC and Eyemart Express may strengthen XPOF’s retail & franchise operations.
  • Share-price hurdles: Half of the $3.5 m RSUs vest only if stock reaches $16, $25 and $30, aligning incentives with shareholder returns.
Negative
  • Leadership turnover: Sudden CEO departure may unsettle strategy execution and employee morale.
  • Costly package: $800k salary, 100% bonus opportunity and sizeable RSU grant increase fixed and potential dilution expenses.

Insights

TL;DR: Leadership change brings seasoned operator; incentive package aligns interests but adds dilution and severance costs.

The hire of Mike Nuzzo introduces deep multi-brand retail and finance expertise that could accelerate XPOF’s operational scaling. The equity award’s price-vest features directly couple value creation with compensation, encouraging share-price targets up to $30—well above recent trading levels. However, the simultaneous resignation of long-time CEO Mark King injects execution risk during the transition. The package’s $3.5 m RSU grant and generous severance add potential dilution and fixed obligations. Overall impact appears strategically positive but financially neutral until results surface.

Il 7 agosto 2025, Xponential Fitness, Inc. (NYSE: XPOF) ha presentato un modulo 8-K annunciando un cambio nella leadership.

  • Nomina: Mike Nuzzo, 54 anni, è stato nominato Amministratore Delegato e direttore di Classe III con effetto immediato; non farà parte dei comitati del Consiglio.
  • Esperienza: Ex CEO di Eyemart Express (2022-2025) e ex COO/CFO di Petco, con precedenti ruoli senior in ambito finanziario presso GNC e Abercrombie & Fitch.
  • Retribuzione: Stipendio base di 800.000 dollari; bonus annuale in contanti fino al 100% dello stipendio; RSU per un valore di 3,5 milioni di dollari assegnate il 21 agosto 2025 â€� il 50% si maturerà nel tempo tra 12 e 36 mesi, il restante 50% si maturerà al raggiungimento di prezzi azionari di 16, 25 e 30 dollari (media su 20 giorni) entro 36 mesi.
  • Indennità di fine rapporto: In caso di licenziamento senza giusta causa o per giusta ragione, Nuzzo riceverà 12 mesi di stipendio, bonus proporzionato, rimborso COBRA e maturazione proporzionale delle azioni; i benefici aumentano se il licenziamento avviene entro 12 mesi da un Cambio di Controllo.
  • Clausole restrittive: Non sollecitazione per 12 mesi dopo la fine del rapporto, obbligo perpetuo di riservatezza e non denigrazione, oltre all’assegnazione delle invenzioni.
  • CEO uscente: Mark King si è dimesso da CEO e direttore con effetto dal 7 agosto 2025.
  • Allegati: 10.1—Contratto di Lavoro; 99.1—Comunicato Stampa; 104—Dati Inline XBRL.

El 7 de agosto de 2025, Xponential Fitness, Inc. (NYSE: XPOF) presentó un formulario 8-K anunciando una transición en el liderazgo.

  • Nombramiento: Mike Nuzzo, 54 años, asume como Director Ejecutivo y director de Clase III con efecto inmediato; no formará parte de los comités del Consejo.
  • Antecedentes: Ex CEO de Eyemart Express (2022-2025) y ex COO/CFO de Petco, con cargos financieros senior previos en GNC y Abercrombie & Fitch.
  • °ä´Ç³¾±è±ð²Ô²õ²¹³¦¾±Ã³²Ô: Salario base de 800,000 dólares; bono anual en efectivo de hasta el 100% del salario; RSU por valor de 3.5 millones otorgadas el 21 de agosto de 2025 â€� 50% se consolidará por tiempo entre 12 y 36 meses, 50% se consolidará por precio a 16, 25 y 30 dólares (promedio de 20 días) dentro de 36 meses.
  • ±õ²Ô»å±ð³¾²Ô¾±³ú²¹³¦¾±Ã³²Ô: Si es despedido sin causa o por razón válida, Nuzzo recibirá 12 meses de salario, bono prorrateado, reembolso COBRA y consolidación prorrateada de acciones; los beneficios aumentan si el despido ocurre dentro de 12 meses tras un Cambio de Control.
  • Cláusulas restrictivas: No solicitación por 12 meses tras la terminación, confidencialidad y no denigración perpetuas, además de cesión de invenciones.
  • CEO saliente: Mark King renunció como CEO y director con efecto desde el 7 de agosto de 2025.
  • Anexos: 10.1—Contrato de Empleo; 99.1—Comunicado de Prensa; 104—Datos Inline XBRL.

2025ë…� 8ì›� 7ì�, Xponential Fitness, Inc. (NYSE: XPOF)ëŠ� 리ë”ì‹� êµì²´ë¥� 알리ëŠ� 8-K 서류ë¥� 제출했습니다.

  • 임명: 마ì´í� 누조(54ì„�)ê°€ 즉시 효력ì� 발휘하는 최고경ì˜ìž�(CEO) ë°� 3ê¸� ì´ì‚¬ë¡� 임명ë˜ì—ˆìœ¼ë©°, ì´ì‚¬íš� 위ì›íšŒì—ëŠ� 참여하지 않습니다.
  • 경력: Eyemart Expressì� ì � CEO(2022-2025)ì´ë©°, Petcoì—서 COO/CFOë¥� 역임했고, GNC와 Abercrombie & Fitchì—서 고위 재무 ì§ì±…ì� 맡았습니ë‹�.
  • 보수: 기본 ì—°ë´‰ 80ë§� 달러; ì—°ê°„ 현금 보너ìŠ� 최대 ì—°ë´‰ì� 100%; 2025ë…� 8ì›� 21ì� ë¶€ì—¬ëœ 350ë§� 달러 ìƒë‹¹ì� RSU â€� 50%ëŠ� 12~36개월ì—� ê±¸ì³ ì‹œê°„ì—� ë”°ë¼ ì·¨ë“, 나머지 50%ëŠ� 36개월 ë‚´ì— 16달러, 25달러, 30달러(20ì� í‰ê·  ê°€ê²�) 달성 ì‹� ì·¨ë“.
  • 퇴ì§ê¸�: 정당í•� 사유 없는 í•´ê³  ë˜ëŠ” 정당í•� ì´ìœ ë¡� ì¸í•œ í•´ê³  ì‹�, 누조ëŠ� 12개월 급여, 비례 보너ìŠ�, COBRA ë³´í—˜ë£� 환급, 비례 ì£¼ì‹ ì·¨ë“ì� 받으ë©�, 12개월 ë‚� ê²½ì˜ê¶� ë³€ê²� í›� í•´ê³  ì‹� 혜íƒì� 확대ë©ë‹ˆë‹�.
  • 제한 ì¡°í•­: í‡´ì§ í›� 12개월ê°� ì˜ì—… ë°©í•´ 금지, ì˜êµ¬ì ì¸ 비밀 유지 ë°� 비방 금지, 발명ê¶� ì–‘ë„ ì˜ë¬´ í¬í•¨.
  • 퇴임 CEO: ë§ˆí¬ í‚¹ì€ 2025ë…� 8ì›� 7ì¼ë¶€ë¡� CEO ë°� ì´ì‚¬ì§ì—ì„� 사임했습니다.
  • 첨부 문서: 10.1—고ìš� 계약ì„�; 99.1—보ë„ìžë£�; 104—ì¸ë¼ì¸ XBRL 표지 ë°ì´í„�.

Le 7 août 2025, Xponential Fitness, Inc. (NYSE : XPOF) a déposé un formulaire 8-K annonçant une transition de direction.

  • Nomination : Mike Nuzzo, 54 ans, devient Directeur Général et administrateur de classe III avec effet immédiat ; il ne participera pas aux comités du conseil d'administration.
  • Parcours : Ancien PDG d'Eyemart Express (2022-2025) et ancien COO/CFO chez Petco, avec des postes financiers seniors chez GNC et Abercrombie & Fitch.
  • Rémunération : Salaire de base de 800 000 $ ; prime annuelle en espèces pouvant atteindre 100 % du salaire ; unités d'actions restreintes (RSU) d'une valeur de 3,5 millions de dollars attribuées le 21 août 2025 â€� 50 % acquises dans le temps sur 12 à 36 mois, 50 % acquises selon le cours à 16, 25 et 30 $ (moyenne sur 20 jours) dans les 36 mois.
  • Indemnités : En cas de licenciement sans motif valable ou pour une bonne raison, Nuzzo recevra 12 mois de salaire, une prime au prorata, un remboursement COBRA et une acquisition d'actions au prorata ; les avantages sont étendus si le licenciement suit un changement de contrôle dans les 12 mois.
  • Clauses restrictives : Non-sollicitation de 12 mois après la fin du contrat, confidentialité et non-dénigrement perpétuels, ainsi qu’une cession des inventions.
  • PDG sortant : Mark King a démissionné de ses fonctions de PDG et d’administrateur avec effet au 7 août 2025.
  • Pièces jointes : 10.1—Contrat de travail ; 99.1—Communiqué de presse ; 104—Données Inline XBRL.

Am 7. August 2025 reichte Xponential Fitness, Inc. (NYSE: XPOF) ein 8-K ein, um einen Führungswechsel bekannt zu geben.

  • Ernennung: Mike Nuzzo, 54 Jahre alt, wird mit sofortiger Wirkung zum Chief Executive Officer und Direktor der Klasse III ernannt; er wird nicht in Ausschüssen des Vorstands tätig sein.
  • Hintergrund: Ehemaliger CEO von Eyemart Express (2022-2025) und ehemaliger COO/CFO bei Petco, mit früheren leitenden Finanzpositionen bei GNC und Abercrombie & Fitch.
  • ³Õ±ð°ù²µÃ¼³Ù³Ü²Ô²µ: Grundgehalt von 800.000 USD; jährlicher Barbonus von bis zu 100 % des Gehalts; am 21. August 2025 gewährte Restricted Stock Units (RSUs) im Wert von 3,5 Mio. USD â€� 50 % zeitabhängig über 12â€�36 Monate, 50 % preisabhängig bei 16, 25 und 30 USD (20-Tage-Durchschnitt) innerhalb von 36 Monaten.
  • Abfindung: Bei Kündigung ohne Grund oder aus wichtigem Grund erhält Nuzzo 12 Monate Gehalt, anteiligen Bonus, COBRA-Erstattung und anteilige Aktienfreigabe; die Leistungen erweitern sich, wenn die Kündigung innerhalb von 12 Monaten nach einer Kontrollwechsel erfolgt.
  • Einschränkende Klauseln: 12-monatiges Wettbewerbsverbot nach Beendigung, dauerhafte Vertraulichkeits- und Nicht-Diskreditierungspflichten sowie Erfindungsabtretung.
  • Abgehender CEO: Mark King trat mit Wirkung zum 7. August 2025 als CEO und Direktor zurück.
  • Anlagen: 10.1—Arbeitsvertrag; 99.1—Pressemitteilung; 104—Inline XBRL-Coverdaten.
false 0001802156 0001802156 2025-08-07 2025-08-07
 
 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): August 7, 2025

 

 

XPONENTIAL FITNESS, INC.

(Exact name of registrant as specified in its charter)

 

 

 

Delaware   001-40638   84-4395129

(State or other jurisdiction of

incorporation or organization)

 

(Commission

File Number)

 

(I.R.S. Employer

Identification Number)

17877 Von Karman Avenue, Suite 100

Irvine, CA 92614

(Address of principal executive offices, including Zip Code)

(949) 346-3000

(Registrant’s telephone number, including area code)

Not Applicable

(Former name or former address, if changed since last report)

 

 

Check the appropriate box below if the Forms 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to section 12(b) of the Act:

 

Title of each class

 

Trading

symbol(s)

 

Name of each exchange

on which registered

Class A Common Stock, par value $0.0001 per share   XPOF   New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act 

 

 
 


Item 5.02.

Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Appointment of New Chief Executive Officer and Director

On August 7, 2025, Xponential Fitness, Inc. (the “Company”) announced that the Board of Directors (the “Board”) of the Company, upon recommendation by the Nominating and Corporate Governance Committee of the Board and the Human Capital Management Committee of the Board, appointed Mr. Mike Nuzzo, age 54, as Chief Executive Officer of the Company and as a Class III director of the Company, effective as of August 7, 2025. Mr. Nuzzo will not join any of the Board committees. Mr. Nuzzo most recently was the Chief Executive Officer of Eyemart Express, a national eyewear retailer, from October 2022 to July 2025. From July 2019 to August 2022, he served as Executive Vice President, Chief Operating Officer and President of Petco Services at Petco Health & Wellness Company, Inc. (Nasdaq: WOOF) (“Petco”). From May 2015 to August 2021, Mr. Nuzzo served as Chief Financial Officer of Petco. Prior to joining Petco, he served as Chief Administrative Officer at 4moms, a leading high-tech baby gear brand. Previously, Mr. Nuzzo was Executive Vice President and Chief Financial Officer for GNC Holdings, Inc., a multinational health and nutrition retailer. He also served in various financial and operational leadership roles at Abercrombie & Fitch Co. (NYSE: ANF), including Senior Vice President of Corporate Finance. Mr. Nuzzo is currently serving on the board of directors of KinderCare Learning Companies, Inc. (NYSE: KLC) and its audit committee and compensation committee. He holds an MBA in finance and accounting from the University of Chicago Booth School of Business, and a BS in Economics from Kenyon College.

There are no family relationships between Mr. Nuzzo and any director or other executive officer of the Company, nor are there any transactions to which the Company was or is a participant and in which Mr. Nuzzo has a material interest subject to disclosure under Item 404(a) of Regulation S-K. There are no arrangements or understandings between Mr. Nuzzo and any other person pursuant to which he was selected as Chief Executive Officer and director.

A copy of the press release announcing Mr. Nuzzo’s appointment is attached hereto as Exhibit 99.1 and incorporated herein by reference.

Employment Agreement and Indemnification Agreement with New Chief Executive Officer

On July 30, 2025, the Company entered into an employment agreement with Mr. Nuzzo in connection with his appointment as Chief Executive Officer (the “Nuzzo Employment Agreement”), to be effective as of August 7, 2025.

Pursuant to the Nuzzo Employment Agreement, Mr. Nuzzo’s annual base salary will be $800,000 and will be subject to increase by our Board of Directors based on Mr. Nuzzo’s performance. Mr. Nuzzo will be eligible to participate in the Company’s annual cash bonus program with an annual cash bonus opportunity of up to 100% of base salary based on the achievement of one or more performance goals established by the Board. For 2025, Mr. Nuzzo will be eligible for a pro-rated bonus based on the achievement of one or more performance goals agreed between Mr. Nuzzo and the Board, which the parties will endeavor to determine within 45 days of August 7, 2025.

In addition, pursuant to the Nuzzo Employment Agreement and subject to the terms of the Company’s Omnibus Incentive Plan (the “Plan”) and a customary grant agreement (the “Grant Agreement”) entered into by the Company and Mr. Nuzzo, on August 21, 2025, Mr. Nuzzo will be entitled to receive restricted stock units (“RSUs”) with an initial value of $3.5 million based on the volume-weighted average trading price of the Company’s common stock during the ten trading days commencing on August 7, 2025. Fifty percent of such RSUs will vest in four substantially equal installments on each of the 12-, 24-, 30-, and 36-month anniversaries of August 7, 2025, based on and subject to Mr. Nuzzo’s continued service with the Company. The remaining fifty percent of the RSUs will vest in incremental one-third tranches if, during the 36-month period following August 7, 2025, the closing price of the Company’s common stock, as reported on the New York Stock Exchange, equals or exceeds $16.00, $25.00, and $30.00, respectively, for 20 consecutive trading days.

Pursuant to the Nuzzo Employment Agreement, if Mr. Nuzzo’s employment is terminated (i) by us without “cause” (as defined in the Nuzzo Employment Agreement), (ii) by Mr. Nuzzo for “good reason” (as defined in the Nuzzo Employment Agreement), or (iii) as a result of Mr. Nuzzo’s disability resulting from an injury or death incurred in the course and scope of his employment, and Mr. Nuzzo executes a release of all claims in substance and form


satisfactory to the Company, Mr. Nuzzo will be entitled to severance payments of 12 months’ continued base salary, payable in periodic installments according to the Company’s regular payroll practices. In addition, Mr. Nuzzo will be entitled to (i) reimbursement for the cost of COBRA coverage for 12 months or until Mr. Nuzzo becomes eligible for coverage under different health insurance, whichever is earlier, (ii) a prorated bonus based on actual performance for the full calendar year (which, if earned, will be paid when other Company executives are paid annual bonus for the applicable year), and (iii) prorated vesting of each then-outstanding equity award held by Mr. Nuzzo based on the time elapsed from the commencement of vesting of such award through the date of termination, and, if applicable, actual performance through the date of termination. If the qualifying termination of Mr. Nuzzo’s employment occurs within 12 months following a Change in Control (as defined in the Plan), then the COBRA benefits described above will be provided for 18 months, and, in lieu of the prorated vesting benefits described above, all unvested time-based vesting equity awards then held by Mr. Nuzzo will immediately vest, with any performance-vesting awards to vest based on actual performance through the date of termination.

Mr. Nuzzo has agreed to certain restrictive covenants during the term of his employment and for specified periods following termination, including but not limited to, a 12-month post-termination non-solicit of employees, a mutual and perpetual non-disparagement obligation, a perpetual confidentiality obligation, and invention assignment provisions.

Mr. Nuzzo has also entered into an indemnification agreement with the Company in the form executed with other executives of the Company.

The foregoing description of the Nuzzo Employment Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Nuzzo Employment Agreement, a copy of which is attached hereto as Exhibit 10.1 and incorporated herein by reference.

Resignation of Chief Executive Officer and Director

In connection with the appointment of Mr. Nuzzo as Chief Executive Officer of the Company, effective as of August 7, 2025, Mr. Mark King resigned from serving as Chief Executive Officer of the Company and as a director of the Company.

The Company elected to delay the filing of the disclosure of the appointment of Mr. Nuzzo as Chief Executive Officer until the public announcement of his appointment in accordance with the instruction to paragraph (c) of Item 5.02(c) of Form 8-K.

 

Item 9.01

Financial Statements Exhibits.

(d) Exhibits.

 

Exhibit

Number

  

Description

10.1    Employment Agreement dated July 30, 2025, between the Company and Mike Nuzzo.
99.1    Press Release dated August 7, 2025.
104    Cover Page Interactive Data File (embedded within Inline XBRL document).


SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

    XPONENTIAL FITNESS, INC.
Date: August 7, 2025     By:  

/s/ John Meloun

    Name   John Meloun
    Title   Chief Financial Officer

FAQ

Why did Xponential Fitness (XPOF) file an 8-K on August 7 2025?

To disclose the appointment of Mike Nuzzo as Chief Executive Officer and the resignation of former CEO Mark King.

What is Mike Nuzzo’s compensation as the new CEO of XPOF?

$800,000 base salary, up to 100% annual cash bonus, and $3.5 m in RSUs with time-based and price-based vesting.

When will Nuzzo’s RSUs vest?

Half vest in four equal tranches at 12, 24, 30, and 36 months; the other half vest if the share price hits $16, $25, and $30 within 36 months.

What severance is owed if the new CEO is terminated without cause?

12 months� base salary, prorated bonus, 12 months COBRA reimbursement, and prorated equity vesting; enhanced benefits after a Change in Control.

Did the outgoing CEO Mark King remain on XPOF’s board?

No. Mark King resigned both as Chief Executive Officer and as a director effective August 7 2025.
Xponential Fitness Inc

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