HIMS Stock Loses Weight: CEO's Massive 272x Pay Gap With Workers Tips The Scales Ahead Of Shareholder Vote

• The package remained heavily equity-driven, with 306,406 RSUs and performance stock options tied to long-term results.
• Hims met 94% of its revenue target and 98% of its adjusted EBITDA target last year.
• The compensation vote comes as Hims deepens its presence in the high-stakes GLP-1 weight-loss market.

Shares of Hims & Hers Health, Inc. (HIMS) logged its worst day in a month on Tuesday after a fresh filing revealed that CEO Andrew Dudum earned about 272x the company’s median employee compensation, even amid heated competition in its core weight-loss business.

HIMS stock declined over 5% on Tuesday to end at $27.91. Shares are still poised to mark their second straight month of gains after jumping 34% so far in April. 

Hims CEO's Massive CEO-To-Worker Pay Gap

The disclosure comes ahead of the company’s upcoming annual meeting on June 11, where shareholders will vote on executive pay. An interesting detail in the filing showed that Dudum earned a massive 272x the company’s median employee pay, with median pay reported at $84,402 compared with Dudum’s total compensation of $22.96 million last year. However, his total pay was down about 7% from the previous year.

Despite the decline, the structure of the pay package remained heavily tilted towards long-term incentives rather than fixed cash compensation. The company confirmed that Dudum’s base salary was about the same as 2024 levels, and his target annual incentive are still set at 100% of base salary, consistent with the prior year.

The filing also said that Dudum received $240,000 in security-related reimbursements as part of “all other compensation” last year.

Stock Awards Made Up The Real Pay

Short-term incentives under the company’s compensation plan were mainly related to performance based on targets for revenue and adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA).

Last year, the company met 94% of its revenue target and 98% of its adjusted EBITDA target, resulting in executives earning 93.72% of their target annual incentive bonus. Based on these performance levels, Dudum received an annual incentive payout of $585,763 for the year.

Additionally, Dudum received 306,406 restricted stock units (RSUs), along with performance-based stock option awards that could increase in value depending on how Hims performs over time. Under the grant structure, the options convert into 278,622 shares at the minimum performance level, 557,244 shares at the target level, and up to 1.39 million shares if maximum performance conditions are met, with an exercise price of $34.71 per share. 

Hims Fights For A Slice Of The GLP-1 Pie

The compensation vote comes as Hims enters its next phase of growth in a heavily competitive weight-loss market, where both established healthcare players and emerging digital platforms are vying for a slice in the heated GLP-1 segment amid strong demand for newer obesity therapies. 

Recently, the company expanded access to branded treatments from Novo Nordisk and Eli Lilly, while also adjusting its strategy around compounded alternatives following regulatory scrutiny affecting the broader telehealth GLP-1 ecosystem. 

Meanwhile, competition in the GLP-1 space has extended well beyond pharma players, with Amazon expanding its presence in the category through its One Medical platform. Rival telehealth provider Ro has also introduced aggressive pricing changes across its subscription-based GLP-1 programs.

How Do Retail Traders Feel About HIMS?

On Stocktwits, retail sentiment for HIMS was ‘neutral’ amid ‘normal’ message volume.

One user noted that, “Amazon’s One Medical App is on the verge of surpassing HIMS for the first time ever”

Meanwhile, a bullish user said, “besides today, we went over $30 the previous 6 trading days.. With a little more volume we should get back there shortly”

HIMS stock has declined 2% over the past year. 

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