Planet Fitness (PLNT) Announces CFO Transition

On August 5, 2024, Planet Fitness (NYSE: PLNT) entered into a transition agreement (the “Transition Agreement”) and a consulting agreement (the “Consulting Agreement”) with the Company’s Chief Financial Officer, Tom Fitzgerald, in order to provide the Company additional time to identify, retain and onboard its next Chief Financial Officer. Pursuant to the terms of the Transition Agreement, Mr. Fitzgerald has agreed to remain employed with the Company through December 31, 2024. Provided that he remains employed with the Company through December 31, 2024, Mr. Fitzgerald will be entitled to receive his 2024 annual cash bonus, payable in accordance with the terms of the Company’s annual bonus plan on the date that bonuses are paid to active employees of the Company. Pursuant to the terms of the Consulting Agreement, effective January 1, 2025, Mr. Fitzgerald will serve as a consultant to the Company through March 31, 2025 and will receive a consulting fee of $10,000 per month through the term of the Consulting Agreement for his services. In addition, any outstanding equity-based awards held by Mr. Fitzgerald will continue to vest in accordance with their terms during the period he provides consulting services to the Company. Pursuant to the Consulting Agreement, if the Company terminates Mr. Fitzgerald’s consulting services without cause prior to March 31, 2025, any equity awards held by Mr. Fitzgerald that would otherwise have vested by their terms on or before March 31, 2025 will become vested as of the date of such termination.

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