Planet Fitness, Inc. Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by Planet Fitness, Inc. on June 19, 2026, regarding events reported on June 25, 2026. The filing discloses the appointment of a new Chief Financial Officer and President, International, and the departure of the Interim CFO.
Key Financial Metrics
The filing does not provide revenue, profit, cash flow, margin, debt, or liquidity metrics. It focuses exclusively on executive compensation terms:
- Base Salary: $900,000 annually.
- Target Cash Bonus: 115% of base salary ($1,035,000).
- New Hire Equity Award: Restricted Stock Units (RSUs) with a target grant date fair value of $3,000,000.
- 2026 Long-Term Incentive Award: Target grant date fair value of $4,000,000 (50% RSUs, 50% Performance Share Units).
- Relocation Benefits: Temporary housing assistance of $7,500 per month for up to six months, plus travel and relocation expense reimbursements.
Material Changes
The primary material change is the leadership transition in the finance function:
- Appointment: Sudhanshu Priyadarshi was appointed Chief Financial Officer and President, International, effective June 25, 2026.
- Departure: Tom Fitzgerald's employment as Interim Chief Financial Officer terminated on June 25, 2026. He will serve in an advisory capacity through mid-September 2026.
Outlook, Risks, and Management Commentary
The filing includes no financial guidance, outlook, or management commentary regarding future performance. The document notes standard employment restrictions, including non-competition and non-solicitation clauses for 12 months post-employment. Mr. Priyadarshi is eligible to participate in the Company's Executive Severance & Change in Control Policy.
Investor Verification Checklist
- Verify the vesting schedule and performance criteria for the $4,000,000 Long-Term Incentive Award.
- Confirm the exact number of RSUs granted based on the stock price on June 24, 2026.
- Review the full text of the Executive Severance & Change in Control Policy referenced in the agreement.
- Monitor the transition period through mid-September 2026 for any interim financial reporting changes.