LifeVantage Adds Activist Nominee Dayton Judd to Board in Pact With Radoff Sudbury Group

LifeVantage Corporation disclosed in a Form 8-K that it entered into a cooperation agreement dated February 14, 2024 with a shareholder group led by Bradley Radoff and Michael Sudbury, which owns about 12.6 percent of the company's stock.

Under the agreement, the board was expanded by one seat and Dayton Judd was appointed a director and named to the audit and nominating committees. LifeVantage agreed to nominate Judd for election at its fiscal 2025 and fiscal 2026 annual meetings, and the group agreed to support the company's incumbent nominees, Beindorff, Fife, Greer, Latham, Lewis and Mauro. The group also withdrew a books-and-records demand it had made under Section 220 of Delaware law.

The settlement came about three months after LifeVantage stockholders re-elected the full incumbent board and rejected a dissident slate put forward by the same group at the November 2023 annual meeting.

Judd has C-suite experience in the nutritional supplement and wellness categories and has worked as an investment advisor and consultant. "We welcome Dayton to the board and believe his insights and perspective will benefit the company and its shareholders," said President and Chief Executive Steve Fife. LifeVantage, based in Lehi, Utah, sells Protandim and other nutrigenomic supplements through independent consultants.