LFVN 8-K
Lifevantage Corp (LFVN)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
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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 the 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.
CEO Retirement
On February 4, 2026, LifeVantage Corporation (the “Company”) announced that Steven R. Fife notified the Board of Directors (the “Board”) of his decision to retire as President and Chief Executive Officer and from the Board. Mr. Fife’s retirement date has now been set to take effect on April 30, 2026, which will be the effective date of his resignation as President and Chief Executive Officer and from the Board pursuant to a transition agreement entered into between Mr. Fife and the Company dated as of April 15, 2026, which is described below.
Appointment of New CEO
On April 13, 2026, the Company agreed to appoint Terrence O. Moorehead as the Company’s new President and Chief Executive Officer, and as a member of the Board, effective as of August 5, 2026 (the “Effective Date”). Mr. Moorehead, age 63, brings more than 25 years of experience in the retail consumer products and direct selling industries. He previously served as President and Chief Executive Officer of Nature’s Sunshine Products, Inc. from October 2018 through October 2025. From 2015 through 2018, he served as Chief Executive Officer of Carlisle Etcetera LLC. From 2013 through 2015, he served as Chief Executive Officer of Dana Beauty, Inc. From 1991 to 2013, he served in various capacities at Avon Products, Inc., including, among other positions, as VP, Strategy and Digital, for North America, General Manager of Avon Italy, President of Avon Canada, and Chairman and President of Avon Japan. Mr. Moorehead currently serves on the Board of Directors of Xenia Hotels & Resorts, Inc., a self-advised and self-administered REIT that invests in uniquely positioned luxury and upper upscale hotels and resorts. Mr. Moorehead received his Master's of Business Administration in Marketing and Finance from Columbia University and a Bachelor of Arts in Economics and Marketing from Boston College. There are no family relationships between Mr. Moorehead and any director or executive officer of the Company or any person nominated or chosen by the Company to become a director or executive officer. There is no other arrangement or understanding between Mr. Moorehead and any other person pursuant to which he was selected as a member of the Board. There are no transactions in which Mr. Moorehead has a direct or indirect material interest that are required to be disclosed under Item 404(a) of Regulation S-K.
Interim CEO and Board Committee Changes
On April 13, 2026, the Company appointed Michael Beindorff, currently a Board director, as Interim CEO effective on May 1, 2026 immediately following Mr. Fife’s retirement. As a result of his appointment as Interim CEO, Mr. Beindorff will no longer serve on the Compensation Committee or the Nominating and Corporate Governance Committee of the Board. Mr. Ray Greer has been appointed to replace Mr. Beindorff on the Nominating and Corporate Governance Committee. On April 15, 2026, the Company entered into an independent contractor consultant agreement (the “Consulting Agreement”) with Mr. Beindorff, pursuant to which he will be paid $45,833 per month in cash in exchange for acting as Interim CEO of the Company. The consulting agreement takes effect on May 1, 2026 and terminates on August 4, 2026, unless earlier terminated or extended. During his tenure as Interim CEO, Mr. Beindorff will not be eligible for compensation under our non-employee director program.
Mr. Beindorff, age 74, has served on the Board since January 2012. He is an accomplished leader and board director with diverse experience in transformational leadership, public, private, and not-for-profit board service, general management, strategic planning, digital transformation, marketing, and branding and operations across a variety of business environments. He is currently Managing Partner of BJ Capital Partners LLC, a firm focused on syndicating investments in multi-family and other commercial real estate properties, a role he has held since 2022. He has also served on the boards of The World Poker Tour (WPTE), the California Higher Education Loan Authority, and PlanetRx.com, among other board and advisory roles. From 2008 to 2022, Mr. Beindorff served as Principal of The Far Niente Group, a private investment entity focused on investing for long term capital appreciation. From 2004 to 2008, he served as Chief Operating Officer of Exclusive Resorts, a private club for luxury travel experience. From 2002 to 2004, he served as Principal and President of the Greentree Group, a management consultancy focused on helping clients build strong brands and effective business models. From 1999 to 2002, he served first as President and COO and then as Chairman and Chief Executive Officer of PlanetRx.com, an internet pharmacy and on-line health portal. From 1995 to 1999, he served as Executive Vice President of Marketing, Operations and Product Management for VISA. Previously, he held various positions leading global advertising, marketing and brand management for Rhodes Furniture (1993 to 1995) and The Coca-Cola Company (1978 to 1993). Mr. Beindorff received his Bachelor of Science in Business Administration from the University of Alabama and his Masters of Business Administration from the Goizueta Business School at Emory University. There are no family relationships between Mr. Beindorff and any director or executive officer of the Company or any person nominated or chosen by the Company to become a director or executive officer. Other than as disclosed in our definitive proxy statement filed on September 19, 2025, there are no transactions in which Mr. Beindorff has a direct or indirect material interest that are required to be disclosed under Item 404(a) of Regulation S-K.
The foregoing description of the Consulting Agreement is qualified in its entirety by the full and complete terms of the Consulting Agreement, a copy of which is filed with this Current Report on Form 8-K as Exhibit 10.1 and is incorporated herein by reference.
CEO Employment Agreement
On April 15, 2026, the Company entered into a key executive benefits agreement (the “Employment Agreement”) with Mr. Moorehead to be appointed as President and Chief Executive Officer as of the Effective Date.
Pursuant to the Employment Agreement, Mr. Moorehead’s annual base salary will be $850,000. Mr. Moorehead will also have an aggregate annual cash bonus opportunity of up to 100% of his salary, provided that, so long as Mr. Moorehead has not resigned for “Good Reason” or been terminated “For Cause,” the Company has guaranteed that his cash bonus for the fiscal year ending June 30, 2027 shall be $425,000 with eligibility for up to 200% of the target payout rate (prorated for the time of the year in which Mr. Moorehead served as CEO).
In addition, Mr. Moorehead will receive restricted stock unit awards (“RSUs”) and performance-based restricted stock unit awards (“PSUs”). The RSUs consist of (i) $2,000,000 of RSUs that vest in three equal installments starting on the one-year anniversary of their grant date and (ii) $800,000 of RSUs, prorated for the amount of service Mr. Moorehead provides during the fiscal year ending June 30, 2027. The PSUs consist of (i) $3,500,000 of PSUs that vest over a three year period based on the achievement of certain revenue and Adjusted EBITDA margin targets and (ii) $1,200,000 of PSUs that vest based on the achievement of certain revenue and Adjusted EBITDA margin targets, prorated for the amount of service Mr. Moorehead provides during the fiscal year ending June 30, 2027.
Mr. Moorehead will be entitled to benefits generally available to Company employees as well as to certain other perquisites.
Mr. Moorehead’s employment pursuant to the Employment Agreement is at-will. If Mr. Moorehead’s employment is terminated “Without Cause” or he resigns for “Good Reason”, each as defined in the Employment Agreement, he is entitled to (i) continued base salary for 18 months, (ii) reimbursement of health insurance coverage for 18 months, (iii) a prorated bonus, and (iv) continued vesting of equity awards for 18 months. In addition, Mr. Moorehead is eligible to participate in our Change in Control Policy, pursuant to which, if he is terminated “Without Cause” or he resigns for “Good Reason,” in each case, within 180 days prior to or eighteen months following a Change in Control, then Mr. Moorehead’s benefits described in this paragraph are increased by 50%.
The Employment Agreement requires Mr. Moorehead to provide 180 days of notice before voluntarily resigning.
The foregoing summary of the material terms of the Employment Agreement is qualified in its entirety by the full and complete terms of the Employment Agreement, a copy of which is expected to be filed with the Company’s Annual Report on Form 10-K for the year ended June 30, 2026.
We expect to enter our standard form of indemnification agreement with Mr. Moorehead.
Transition Agreement
On April 15, 2026, the Company entered into a Transition Agreement and General Release (“Transition Agreement”) with Mr. Fife, effective as of April 30, 2026, in connection with Mr. Fife’s retirement. Pursuant to the Transition Agreement, Mr. Fife will receive (i) payment of medical premiums, if elected, for up to 18 months, (ii) cash in the amount of the annual incentive cash bonus for the fiscal year ended June 30, 2026 at the same rate as employees of the Company, prorated for the time in which Mr. Fife provided services, (iii) certain Company products, and (iv) a promise from the Company not to seek reimbursement for any dividends previously paid with respect to equity awards that are unvested as of April 30, 2026. From April 30, 2026 through September 11, 2026 (the “Transition Term”), Mr. Fife has agreed to provide executive advisory services to the Company to promote a smooth transition. During the Transition Term, certain of Mr. Fife’s RSUs and PSUs will continue to vest. The foregoing benefits and entitlements under the Transition Agreement are subject to Mr. Fife’s execution and non-revocation of a release of claims in favor of the Company.
The foregoing description of the Transition Agreement is qualified in its entirety by the full and complete terms of the Transition Agreement, a copy of which is filed with this Current Report on Form 8-K as Exhibit 10.2 and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
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Description |
10.1 |
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10.2 |
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99.1 |
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104 |
Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
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.
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LIFEVANTAGE CORPORATION |
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April 16, 2026 |
By: |
/s/ Carl Aure |
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Carl Aure, Chief Financial Officer |
Exhibit 10.1
INDEPENDENT CONTRACTOR CONSULTANT AGREEMENT
This Independent Contractor Consultant Agreement (“Agreement”) is entered into as of this the 1st day of May 2026 (the “Effective Date”), by and between Michael Beindorff (hereinafter referred to as “Consultant”), and LifeVantage Corporation, a Delaware corporation based in Lehi, Utah of the USA (“LifeVantage”).
As full compensation for any Services performed by Consultant pursuant to this Agreement, LifeVantage shall pay Consultant a fee for such Services rendered as set forth in Exhibit A. Consultant will be reimbursed for reasonable and necessary expenditures made or incurred by Consultant in the course of the performance of Consultant’s Services under this Agreement, including economy airfare for Consultant’s commute between Colorado and Utah, an extended stay accommodation (such as the Town Suites near the corporate office) during the term of this Agreement, and a car rental when Consultant is in Utah to complete the Services during the term of this Agreement. LifeVantage will reimburse Consultant for such expenses regarding which Consultant presents an itemized written account within thirty (30) days after they have been incurred. Upon termination of this Agreement (other than for Consultant’s material breach), Consultant shall be paid fees on a proportional basis for Services performed, up to and including the effective date of such termination.
Other than Consultant serving as a director on the LifeVantage Board of Directors, Consultant’s relationship with LifeVantage shall be that of an independent contractor and nothing in this Agreement should be construed to create a partnership, joint venture, agency or employer-employee relationship between the parties. Consultant shall not be entitled to any of the benefits LifeVantage may make available to its employees, such as group insurance, profit-sharing or retirement benefits. Consultant shall be solely responsible for all tax returns and payments required to be filed with or made to any federal, state or local tax authority with respect to Consultant’s performance of the Services and receipt of fees under this Agreement. LifeVantage may regularly report amounts paid to Consultant with any applicable tax authorities as required by law. Because Consultant is an independent contractor, LifeVantage shall not withhold or make payments for social insurance nor make any such similar payments that an employer may make for employees such as unemployment insurance or disability insurance contributions or obtain worker’s compensation insurance on Consultant’s (or its employees’ or agents’) behalf. Consultant shall comply with, and agrees to accept exclusive liability for non-compliance with, all applicable local, state and federal laws, rules and regulations, including, without limitation, obligations such as payment of all taxes, social insurance, disability and other contributions based on fees paid to Consultant under this Agreement. Consultant hereby agrees to indemnify, hold harmless and defend LifeVantage against any and all such liability, taxes or contributions, including, without limitation, penalties and interest.
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This Agreement shall commence on the Effective Date and continue until August 4, 2026, unless otherwise extended by mutual written agreement of the parties.
LifeVantage may terminate this Agreement at its convenience, with or without cause, upon 15 days prior written notice to Consultant. Consultant may terminate this Agreement for convenience, with or without cause, upon 15 days written notice to LifeVantage, provided that termination by Consultant pursuant to this Section 8.2 shall not be effective until completion of any specifically defined term and/or LifeVantage’s final acceptance of the Services set forth on Exhibit A, unless otherwise agreed by the parties in writing.
If either party materially defaults in any of its obligations under this Agreement, the non-defaulting party, at its option shall have the right to terminate this Agreement by written notice unless the defaulting party remedies the default within 10 calendar days after receipt of written notice of such default. LifeVantage may also terminate this Agreement immediately for Consultant’s breach of Sections 4 or 9.
Upon the effective date of any termination of this Agreement, Consultant shall immediately cease performing any Services under this Agreement. Unless this Agreement has been terminated by LifeVantage for material breach by Consultant, LifeVantage agrees to pay Consultant compensation due for Services actually rendered, in accordance with Section 2, and such amounts shall be in full satisfaction of any obligation or liability of LifeVantage to Consultant for payments due to Consultant under this Agreement. Sections 4, 5, 6, 8.4, 8.5, 9, 10 and 11 shall survive the expiration or termination of this Agreement. Termination of this Agreement by either party shall not act as a waiver of any breach of this Agreement and shall not act as a release of either party from any liability for breach of such party’s obligations under this Agreement. Neither LifeVantage nor Consultant shall be liable to the other for damages of any kind solely as a result of terminating this Agreement in accordance with its terms, and termination of this Agreement by a party shall be without prejudice to any other right or remedy of such party under this Agreement or applicable law.
Consultant acknowledges that LifeVantage’s relationships with its employees, agents, suppliers, distributors, customers and vendors are valuable business assets. Accordingly, Consultant agrees that, during the period of this Agreement and for one (1) year thereafter Consultant shall not (for itself or for any third party) divert or attempt to divert from LifeVantage any business, employee, agent, supplier, client, distributor, consultant, customer or vendor, through solicitation or otherwise.
To the extent permitted by applicable law: (a) in no event shall LifeVantage be liable under any legal theory for any special, indirect, consequential, exemplary or incidental damages, however caused, arising out of or relating to this Agreement, even if LifeVantage has been advised of the possibility of such damages; and (b) in no event shall LifeVantage’s aggregate liability arising out of or relating to this Agreement (regardless of the form of action giving rise to such liability, whether in contract, tort or otherwise) exceed the fees payable by LifeVantage hereunder.
This Agreement is to be construed in accordance with and governed by the internal laws of Utah in the USA without giving effect to any choice of law rule that would cause the application of the laws of any jurisdiction other than the
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internal laws of Utah to the rights and duties of the parties. Any legal suit, action or proceeding arising out of or relating to this Agreement shall be commenced in the courts in Utah County, Utah and each party hereto irrevocably submits to the exclusive jurisdiction and venue of any such court in any such suit, action or proceeding.
If the application of any provision of this Agreement to any particular facts or circumstances shall for any reason be held to be invalid, illegal or unenforceable by a court, arbitration panel or other tribunal of competent jurisdiction, then (a) the validity, legality and enforceability of such provision as applied to any other particular facts or circumstances, and the other provisions of this Agreement, shall not in any way be affected or impaired thereby and (b) such provision shall be enforced to the maximum extent possible so as to effect the intent of the parties. If, moreover, any provision contained in this Agreement shall for any reason be held to be excessively broad as to duration, geographical scope, activity or subject, it shall be construed by limiting and reducing it, so as to be enforceable to the extent compatible with applicable law.
Consultant acknowledges that LifeVantage has entered into this Agreement on the basis of the particular abilities of Consultant. Accordingly, LifeVantage shall be entitled to assign, sell, transfer, delegate or otherwise dispose of, whether voluntarily or involuntarily, by operation of law or otherwise, this Agreement and any of its rights or obligations of this Agreement, but Consultant shall not and shall not have the right to assign, sell, transfer, delegate or otherwise dispose of, whether voluntarily or involuntarily, by operation of law or otherwise, this Agreement or any of its rights or obligations under this Agreement without the prior written consent of LifeVantage. Except as provided herein, any purported assignment, transfer or delegation by Consultant shall be null and void. Subject to the foregoing, this Agreement shall be binding upon and shall inure to the benefit of the parties and their respective successors and permitted assigns.
Any notice, request, demand, or other communication required or permitted hereunder shall be in writing, shall reference this Agreement and shall be deemed to be properly given: (a) when delivered personally; (b) when sent by email with a read receipt acknowledgement, or a written confirmation by recipient; (c) when making three attempts to communicate using an electronic or digital communications channel verifiably used by recipient in previous communications even if acknowledgement is not given; (d) five (5) business days after having been sent by registered or certified mail, return receipt requested, postage prepaid; or (e) two (2) business days after deposit with a private industry express courier. All notices shall be sent to the address set forth on the signature page of this Agreement, or to such other address as may be designated by a party, or to the email address on file, or to such electronic or digital communication verifiably used by recipient.
If any legal action, including, without limitation, an action for arbitration or injunctive relief, is brought relating to this Agreement or the breach hereof, the prevailing party in any final judgment or arbitration award, or the non-dismissing party in the event of a voluntary dismissal by the party instituting the action, shall be entitled to the full amount of all reasonable expenses, including all court costs, arbitration fees and actual attorney fees paid or incurred in good faith.
Consultant recognizes that the covenants contained in this Agreement are reasonable and necessary to protect the legitimate interests of LifeVantage, that LifeVantage would not have entered into this Agreement in the absence of such covenants, and that Consultant’s breach or threatened breach of such covenants shall cause LifeVantage irreparable harm and significant injury, the amount of which shall be extremely difficult to estimate and ascertain, thus, making any remedy at law or in damages inadequate. Therefore, Consultant agrees that LifeVantage shall be entitled, without the necessity of posting of any bond or security, to the issuance of injunctive relief by any court of competent jurisdiction enjoining any breach or threatened breach of such covenants and for any other relief such court deems appropriate. This right shall be in addition to any other remedy available to LifeVantage at law or in equity.
The waiver by either party of a breach of or a default under any provision of this Agreement shall not be effective unless in writing and shall not be construed as a waiver of any subsequent breach of or default under the same or any other provision of this Agreement, nor shall any delay or omission on the part of either party to exercise or avail itself of any right or remedy that it has or may have hereunder operate as a waiver of any right or remedy.
This Agreement has been negotiated by the parties and shall be interpreted fairly in accordance with its terms and without any construction in favor of or against either party.
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The captions and section and paragraph headings used in this Agreement are inserted for convenience only and shall not affect the meaning or interpretation of this Agreement.
This Agreement may be executed (including, without limitation, by electronic signature or by email) in one or more counterparts, with the same effect as if the parties had signed the same document. Each counterpart so executed shall be deemed to be an original, and all such counterparts shall be construed together and shall constitute one Agreement.
The rights granted to LifeVantage hereunder are rights in “intellectual property” within the scope of Section 101 of the United States Bankruptcy Code (the “Code”). LifeVantage shall have the rights set forth herein with respect to the Work Product when and as developed or created. In addition, LifeVantage, as a licensee of intellectual property rights hereunder, shall have and may fully exercise all rights available to a licensee under the Code, including, without limitation, under Section 365(n) or its successors. In the event of a case under the Code involving Consultant, LifeVantage shall have the right to obtain (and Consultant or any trustee for Consultant or its assets shall, at LifeVantage’s written request, deliver to LifeVantage) a copy of all embodiments (including, without limitation, any work in progress) of any intellectual property rights granted hereunder, including, without limitation, embodiments of any Work Product or any other intellectual property necessary or desirable for LifeVantage to use or exploit any Work Product or to exercise its rights hereunder. In addition, Consultant shall take all steps reasonably requested by LifeVantage to perfect, exercise and enforce its rights hereunder, including, without limitation, filings in the U.S. Copyright Office and U.S. Patent and Trademark Office, and under the U.S. Uniform Commercial Code.
This Agreement (including the Exhibits attached hereto, which are incorporated herein by reference) is the final, complete and exclusive agreement of the parties with respect to the subject matter hereof and supersedes and merges all prior or contemporaneous representations, discussions, proposals, negotiations, conditions, communications and agreements, whether written or oral, between the parties relating to the subject matter hereof and all past courses of dealing or industry custom. No modification of or amendment to this Agreement shall be effective unless in writing and signed by each of the parties.
Signatures on the Next Page
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In Witness Whereof, the parties have caused this Agreement to be executed by their duly authorized representatives as of the Effective Date.
LifeVantage Corporation Michael Beindorff (Consultant)
By: /s/ Raymond b. Greer By:/s/ Michael Beindorff
Name: Raymond B. Greer Name: Michael Beindorff
Title: Chairman of the Board
Address: 3300 N. Triumph Blvd., Suite 700 Address: 5959 S. Ogden Ct.
Lehi, Utah 84043 Greenwood Village, CO 80121
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Exhibit A
Services
Services to be Provided by Independent Contractor Consultant
Compensation and Billing
Consultant will be paid for the Services a flat fee of US$45,833 per month and pro-rated accordingly through the term of the Agreement outlined in Section 8.1 in the event the Agreement expires or terminates on a date other than the end of the month. The foregoing compensation is inclusive of taxes and social security contributions due in any country wherein Consultant may reside and for which taxes and social contributions are exclusively the sole responsibility of the Consultant. Such monthly fee is the only payment to Consultant and Consultant shall be solely responsible for any vehicle, daily transportation and/or health insurance costs that Consultant may determine are needed for himself to fulfill the Services.
Term
This Agreement is for a period of 3 months beginning on May 1, 2026, and ending on August 4, 2026, unless terminated earlier or extended further by either party in writing in accordance with this Agreement.
General
Except to the extent, if any, otherwise expressly set forth in this Exhibit A, this Exhibit A and the Services provided herein are governed by the terms of the Independent Contractor Consultant Agreement, between LifeVantage and Consultant, dated May 1, 2026.
LifeVantage Corporation Michael Beindorff (Consultant)
_/s/ Raymond B Greer _/s/ Michael Beindorff___________
Name: Raymond B. Greer Name: Michael Beindorff
Title: Chairman of Board
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Exhibit 10.2
TRANSITION AGREEMENT AND GENERAL RELEASE
This Transition Agreement and General Release (“Agreement”) is entered into by and between Steven R. Fife (“Employee”) and LifeVantage Corporation, a Delaware corporation (the “Company” or “Employer”) (together the “Parties”) in consideration for and as condition precedent to Employer providing the transition benefits to Employee as set forth below. It is understood and agreed that Employer is not obligated to provide all of such transition benefits under the terms of the Amended Employment Agreement (as defined below) and that Employer is providing such transition benefits as a direct result of Employee’s willingness to agree to the terms hereof. Certain terms, not otherwise defined herein, shall have the meaning ascribed to them in the Amended Employment Agreement.
In order for this Agreement to become effective, Employee must electronically sign this Agreement before 5:00 pm Mountain Time 21 days from receipt of this Agreement or else it will be irrevocably determined that Employee has decided to not execute this Agreement and this Agreement shall be of no force or effect. This Agreement will become effective only if it has been timely executed by the Employee and the revocation period has expired without revocation by Employee as set forth in Section 14(d) below. By signing below and timely delivering a signed Agreement to Employer, Employee acknowledges and agrees to each of the following terms and conditions:
RECITALS
AGREEMENT
NOW THEREFORE, in consideration of the mutual covenants and conditions set forth below, and intending to be legally bound thereby, Employer and Employee covenant and agree as follows:
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Employee agrees and understands that he will provide these Executive Advisor services during his employment and through the Transition Date. Employee may provide these Executive Advisor services from his residence, unless requested by Employer’s Chairman of the Board of Directors or acting or then- current President or Chief Executive Officer, or his or her designee, to travel within the United States, or appear in the Employer's offices or events, in the ordinary course of completing assignments, which the Employer may assign with reasonable notice and expectations consistent with Employee's experience and expertise. Employer will reimburse Employee for all reasonable expenses incurred in performing his duties under this Agreement; provided that Employee has obtained prior approval from Employer’s Chairman of the Board of Directors or acting or then-current President or Chief Executive Officer or his or her designee for such expenses.
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Employee does not waive or release any rights arising after the date of execution of this Agreement, subject to Section 2.d(iii). Employee agrees that the release set forth in this section shall be and remain in effect in all respects as a complete general release as to the matters released. This release does not extend to any obligations incurred under this Agreement. This release does not release claims that cannot be released as a matter of law, including, but not limited to, workers’ compensation or unemployment benefits claims. Employee represents that Employee has made no assignment or transfer of any right, claim, complaint, charge, duty, obligation, demand, cause of action, or other matter waived or released by this section.
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GENERAL PROVISIONS
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ACCEPTED AND AGREED:
_/s/ Steven R. Fife__________________________________
Steven R. Fife
Date:
LIFEVANTAGE CORPORATION:
_/s/ Raymond B. Greer___________________________________
Raymond B. Greer, Chairman of the Board
Date:
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Exhibit 99.1
LifeVantage Appointing Terrence Moorehead as Chief Executive Officer
Salt Lake City, UT, April 16, 2026, LifeVantage Corporation (Nasdaq: LFVN) (“LifeVantage” or the “Company”), a leading health and wellness company with products designed to activate optimal health processes at the cellular level, today announced the appointment of Terrence Moorehead as the Company’s new President and Chief Executive Officer and as a member of the Board of Directors (the “Board”), effective August 5, 2026. Mr. Moorehead is expected to commence employment with LifeVantage following the completion of his contractual commitments with his prior employer.
Mr. Moorehead brings more than 25 years of leadership experience revitalizing brands, accelerating customer growth, and delivering sustained financial performance in the direct selling and consumer products industries. He previously served as President and Chief Executive Officer of Nature’s Sunshine Products, Inc. from 2018 through 2025 where he led the company through a multi-year transformation that redefined the business and increased revenue 45% and EBITDA 190%. From 2015 through 2018, he served as Chief Executive Officer of Carlisle Etcetera LLC. From 2013 through 2015, he served as Chief Executive Officer of Dana Beauty, Inc. From 1991 to 2013, he served in various leadership roles at Avon Products, Inc., including VP, Strategy and Digital, for North America, General Manager of Avon Italy, President of Avon Canada, and Chairman and President of Avon Japan.
“Terrence has an outstanding track record of driving growth and scaling leading, global health and wellness brands and we are thrilled to welcome him as our next CEO,” said Raymond Greer, Chairman of the Board of LifeVantage. “Following a comprehensive search process, the Board unanimously concluded that Terrence’s proven ability to lead transformations and his extensive experience in sales, marketing, and finance make him the best choice for the Company and its stockholders, to guide LifeVantage in its next exciting chapter.”
"I'm honored to join LifeVantage at this pivotal moment," said Mr. Moorehead. "The Company’s uniquely differentiated science-backed products, passionate consultant community and dedicated employees create a powerful foundation for the future. I see tremendous potential to further leverage the strong brand position and capabilities and am excited to work alongside the Board and our entire team to sharpen our strategy, drive sustainable growth and deliver meaningful value for our stockholders."
The previously announced retirement of Steve Fife as President, CEO and as a member of the Board is set to take effect on April 30, 2026. In connection with this planned transition, the Board has appointed current director Michael Beindorff as Interim CEO, along with Executive Advisors Kristen Cunningham, Chief Sales Officer, and Carl Aure, Chief Financial Officer, to lead the Company until Mr. Moorehead assumes the role of CEO.
Mr. Greer continued, “On behalf of the entire Board, I want to thank Steve for his leadership and many contributions to LifeVantage over the past nine years. Steve’s vision and dedication were essential in transforming and modernizing our business model, strengthening our financial position, along with expanding our product portfolio and international footprint, ensuring the Company is well positioned for long-term success. We appreciate his commitment to supporting a smooth transition and wish him the very best in his retirement.
“Our interim leadership team comprises highly experienced executives committed to our mission and ensuring continuity for our employees, consultants, and customers. Michael's long history with the Company and strategic perspective as a Board member, combined with the leadership team’s breadth and
depth of experience across the entire enterprise, position them well to steward the business through this transition period."
About LifeVantage Corporation
LifeVantage Corporation (Nasdaq: LFVN), the Activation company, is a pioneer in nutrigenomics-the study of how nutrition and naturally occurring compounds can unlock your genes and the health coded within. Our products work with your unique biology and help your body make what it needs for health. The line of scientifically validated activators includes the flagship Protandim® family of products, TrueScience® Liquid Collagen, the MindBody GLP-1 System™, and the comprehensive gut activator P84, and the activation-supporting nutrients such as Omega, D3+, and the Rise AM & Reset PM System®, as well as AXIO® nootropic energy drink mixes, the full TrueScience® line of skin and hair care products, and Petandim®, a pet supplement formulated to combat oxidative stress in dogs. Our independent Consultants sell our products to Customers and share the business opportunity with entrepreneurs seeking to begin their own business. LifeVantage was founded in 2003 and is headquartered in Lehi, Utah. For more information, visit www.lifevantage.com.
Cautionary Note Regarding Forward Looking Statements
This document contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Words and expressions reflecting optimism, satisfaction or disappointment with current prospects, as well as words such as "believe," "will," "hopes," "intends," "estimates," "expects," "projects," "plans," "anticipates," "look forward to," "goal," “may be,” and variations thereof, identify forward-looking statements, but their absence does not mean that a statement is not forward-looking. Examples of forward-looking statements include, but are not limited to, the commencement of Mr. Moorehead’s employment as the Company’s CEO and his service as a director and expectations related to these announcements. Such forward-looking statements are not guarantees of performance and the Company's actual results could differ materially from those contained in such statements. These forward-looking statements are based on the Company's current expectations and beliefs concerning future events affecting the Company and involve known and unknown risks and uncertainties that may cause the Company's actual results or outcomes to be materially different from those anticipated and discussed herein. These risks and uncertainties include, among others, further deterioration to the global economic and operating environments, as well as those discussed in greater detail in the Company's Annual Report on Form 10-K and the Company's Quarterly Report on Form 10-Q under the caption "Risk Factors," and in other documents filed by the Company from time to time with the Securities and Exchange Commission (the “SEC”). The Company cautions investors not to place undue reliance on the forward-looking statements contained in this document. All forward-looking statements are based on information currently available to the Company on the date hereof, and the Company undertakes no obligation to revise or update these forward-looking statements to reflect events or circumstances after the date of this document, except as required by law.
Investor Relations Contacts:
Reed Anderson, ICR
(646) 277-1260