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Pay vs Performance Disclosure - USD ($)
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Pay vs Performance Disclosure        
Pay vs Performance Disclosure, Table
PAY VERSUS PERFORMANCE
As required by Section 953(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act, and Item 402(v) of Regulation S-K, we are providing the following information about the relationship between executive compensation actually paid and certain financial performance and other of the Company. For further information concerning the Company’s variable pay-for-performance philosophy and how the Company aligns executive compensation with the Company’s performance, refer to the “Compensation Discussion and Analysis” above. Our Chief Executive Officer is our principal executive officer, which we refer to as “PEO” in the tables below. The named executive officers are referred to as “NEOs” in the tables below.
Year
Summary
Compensation
Table
Total for
PEO
(1)
Compensation
Actually
Paid to
PEO
(2)
($)
Average
Summary
Compensation
Table
Total for
Non-PEO
NEOs
(3)
($)
Average
Compensation
Actually
Paid to
Non-PEO
NEOs
(4)
($)
Value of Initial Fixed $100
Investment Based on:
Net income
(loss)
(thousands)
(7)
($)
Company
Selected
Measure —
Segment
Adjusted
EBITDA
(8)
($)
Total
Shareholder
Return
(5)
($)
Peer
Group Total
Shareholder
Return
(5)(6)
($)
2023 4,746,641 7,886,795 2,324,333 2,911,977 (21.2) 3.1 2,539 113,188
2022 3,875,966 2,129,680 1,610,028 1,229,432 (63.2) (12.8) (48,620) 94,114
2021 3,251,291 776,669 2,277,693 1,087,697 (9.3) 16.2 (16,383) 92,892
2020 2,398,110 6,052,590 1,084,843 2,153,958 (53.5) 18.4 (85,727) 67,792
(1)
Represents amounts of total compensation reported for Mr. Christensen (our Chief Executive Officer) for each corresponding year in the “Total” column of the Summary Compensation Table. Refer to “Executive Compensation — Summary Compensation Table.”
(2)
Represents the amount of “compensation actually paid” to Mr. Christensen, as computed in accordance with Item 402(v) of Regulation S-K. The dollar amounts do not reflect the actual amount of compensation earned by or paid to Mr. Christensen during the applicable year. In accordance with the requirements of Item 402(v) of Regulation S-K, the following adjustments were made to Mr. Christensen’s total compensation for 2023 to determine the compensation actually paid:
Year
Reported
Summary
Compensation
Table Total
for PEO
($)
Less: Reported
Value of
Equity Awards
(a)
($)
Add: Equity
Award
Adjustments
(b)
($)
Compensation
Actually
Paid to PEO
($)
2023 4,746,641 (2,122,762) 5,262,916 7,886,795
(a)
The grant date fair value of equity awards represents the total of the amounts reported in the “Stock Awards” and “Option Awards” columns in the Summary Compensation Table for the applicable year. Refer to “Executive Compensation — Summary Compensation Table.”
(b)
The equity award adjustments for 2023 include the addition (or subtraction, as applicable) of the following: (i) the year-end fair value of any equity awards granted in 2023 that are outstanding and unvested as of the end of the year; (ii) the amount of change as of the end of 2023 (from the end of 2022) in fair value of any awards granted in prior years that are outstanding and unvested as of the end of 2023; (iii) for awards that are granted and vest in 2023, the fair value as of the vesting date; (iv) for awards granted in prior years that vest in 2023, the amount equal to the change as of the vesting date (from the end of 2022) in fair value; (v) for awards granted in prior years that are determined to fail to meet the applicable vesting conditions during 2023, a deduction for the amount equal to the fair value at the end of 2022; and (vi) the dollar value of any dividends or other earnings paid on stock or option awards in 2023 prior to the vesting date that are not otherwise reflected in the fair value of such award or included in any other component of total compensation for 2023. The valuation assumptions used to calculate fair values did not materially differ from those disclosed as of the grant date of the equity awards. The amounts deducted or added in calculating the equity award adjustments are as follows:
Year
Year End
Fair Value
of Equity
Awards
Granted in
the Year
($)
Change
in Fair Value
from End of
Prior Year to
End of
Covered
Year of
Equity
Awards
Granted in
Prior Years
($)
Fair Value
as of Vesting
Date of Equity
Awards
Granted
and Vested
in the Year
($)
Change
in Fair Value
on the Vesting
Date of Equity
Awards
Granted
in Prior
Years that
Vested in
the Year
($)
Fair Value
at the End
of the Prior
Year of
Equity
Awards
that Failed
to Meet
Vesting
Conditions
in the Year
($)
Value of
Dividends
or other
Earnings
Paid on Stock
or Option
Awards not
Otherwise
Reflected
in Fair Value
or Total
Compensation
($)
Total
Equity
Award
Adjustments
($)
2023 3,881,902 1,215,600 165,414 5,262,916
(3)
Represent the average of the amounts reported for our named executive officers as a group (excluding Mr. Christensen, who is our Chief Executive Officer) in the “Total” column of the Summary Compensation Table in each applicable year. Refer to “Executive Compensation — Summary Compensation Table.” The names of each of the named executive officers (excluding Mr. Christensen) included for purposes of calculating the average amounts in each applicable year are as follows: (i) for 2023, Messrs. Glasman, Smith, Pearson, Carter and Herrman, the Company’s former Executive Vice President, General Counsel and Secretary, (ii) for 2022, Messrs. Glasman, Smith and Herrman and Ms. Sholtis, the Company’s former President; (ii) for 2021 and 2020, Messrs. Newland, the Company’s former Chief Financial Officer, Smith and Herrman and Ms. Sholtis.
(4)
Represent the average amount of “compensation actually paid” to the named executive officers as a group (excluding Mr. Christensen), as computed in accordance with Item 402(v) of Regulation S-K. The dollar amounts do not reflect the actual average amount of compensation earned by or paid to the named executive officers as a group (excluding Mr. Christensen) during the applicable year. In accordance with the requirements of Item 402(v) of Regulation S-K, the following adjustments were made to average total compensation for the named executive officers as a group (excluding Mr. Christensen) for 2023 to determine the compensation actually paid, using the same methodology described above in footnote 2:
Year
Average
Reported
Summary
Compensation
Table Total for
Non-PEO NEOs
($)
Less: Average
Reported
Value of
Equity
Awards
($)
Add: Average
Equity
Award
Adjustments
(a)
($)
Average
Compensation
Actually
Paid to
Non-PEO NEOs
($)
2023 2,324,333 (1,192,772) 1,780,416 2,911,977
(a)
The amounts deducted or added in calculating the total average equity award adjustments are as follows:
Year
Average
Year End
Fair Value
of Equity
Awards
Granted in
the Year
($)
Average
Change in
Fair Value from
End of Prior Year
to End of Covered
Year of
Equity Awards
Granted in Prior
Years
($)
Average
Fair Value
as of Vesting
Date of Equity
Awards
Granted and
Vested in
the Year
($)
Average
Change in
Fair Value
on the Vesting
Date of Equity
Awards
Granted in
Prior Years
that Vested
in the Year
($)
Average
Fair Value
at the End
of the Prior
Year of Equity
Awards
that Failed
to Meet
Vesting
Conditions
in the Year
($)
Average
Value of
Dividends
or other
Earnings
Paid on
Stock or
Option
Awards not
Otherwise
Reflected in
Fair Value
or Total
Compensation
($)
Total
Average
Equity
Award
Adjustments
($)
2023 1,507,233 242,092 67,180 (36,090) 1,780,416
(5)
Cumulative TSR for each year reflects what the cumulative value of $100 would be, assuming reinvestment of dividends on the ex-dividend date (if any), if such amount were invested on December 31, 2019.
(6)
Our TSR peer group is the Russell 2000 Index as reflected in our Annual Report on Form 10-K pursuant to Item 201(e) of Regulation S-K for the year ended December 31, 2023.
(7)
The dollar amounts reported represent the amount of net income (loss) reflected in the Company’s audited financial statements for the applicable year.
(8)
See “Compensation Discussion and Analysis” for a definition of Segment Adjusted EBITDA. Segment Adjusted EBITDA is the sole annual incentive performance measure used by the Committee because it is the primary measure that management uses to evaluate the effectiveness of its business strategies and it allows for improved comparability over prior periods due to significant growth in the Company’s new wellness centers.
     
Named Executive Officers, Footnote
(1)
Represents amounts of total compensation reported for Mr. Christensen (our Chief Executive Officer) for each corresponding year in the “Total” column of the Summary Compensation Table. Refer to “Executive Compensation — Summary Compensation Table.”
(3)
Represent the average of the amounts reported for our named executive officers as a group (excluding Mr. Christensen, who is our Chief Executive Officer) in the “Total” column of the Summary Compensation Table in each applicable year. Refer to “Executive Compensation — Summary Compensation Table.” The names of each of the named executive officers (excluding Mr. Christensen) included for purposes of calculating the average amounts in each applicable year are as follows: (i) for 2023, Messrs. Glasman, Smith, Pearson, Carter and Herrman, the Company’s former Executive Vice President, General Counsel and Secretary, (ii) for 2022, Messrs. Glasman, Smith and Herrman and Ms. Sholtis, the Company’s former President; (ii) for 2021 and 2020, Messrs. Newland, the Company’s former Chief Financial Officer, Smith and Herrman and Ms. Sholtis.
     
Peer Group Issuers, Footnote
(6)
Our TSR peer group is the Russell 2000 Index as reflected in our Annual Report on Form 10-K pursuant to Item 201(e) of Regulation S-K for the year ended December 31, 2023.
     
PEO Total Compensation Amount $ 4,746,641 $ 3,875,966 $ 3,251,291 $ 2,398,110
PEO Actually Paid Compensation Amount $ 7,886,795 2,129,680 776,669 6,052,590
Adjustment To PEO Compensation, Footnote
(2)
Represents the amount of “compensation actually paid” to Mr. Christensen, as computed in accordance with Item 402(v) of Regulation S-K. The dollar amounts do not reflect the actual amount of compensation earned by or paid to Mr. Christensen during the applicable year. In accordance with the requirements of Item 402(v) of Regulation S-K, the following adjustments were made to Mr. Christensen’s total compensation for 2023 to determine the compensation actually paid:
Year
Reported
Summary
Compensation
Table Total
for PEO
($)
Less: Reported
Value of
Equity Awards
(a)
($)
Add: Equity
Award
Adjustments
(b)
($)
Compensation
Actually
Paid to PEO
($)
2023 4,746,641 (2,122,762) 5,262,916 7,886,795
(a)
The grant date fair value of equity awards represents the total of the amounts reported in the “Stock Awards” and “Option Awards” columns in the Summary Compensation Table for the applicable year. Refer to “Executive Compensation — Summary Compensation Table.”
(b)
The equity award adjustments for 2023 include the addition (or subtraction, as applicable) of the following: (i) the year-end fair value of any equity awards granted in 2023 that are outstanding and unvested as of the end of the year; (ii) the amount of change as of the end of 2023 (from the end of 2022) in fair value of any awards granted in prior years that are outstanding and unvested as of the end of 2023; (iii) for awards that are granted and vest in 2023, the fair value as of the vesting date; (iv) for awards granted in prior years that vest in 2023, the amount equal to the change as of the vesting date (from the end of 2022) in fair value; (v) for awards granted in prior years that are determined to fail to meet the applicable vesting conditions during 2023, a deduction for the amount equal to the fair value at the end of 2022; and (vi) the dollar value of any dividends or other earnings paid on stock or option awards in 2023 prior to the vesting date that are not otherwise reflected in the fair value of such award or included in any other component of total compensation for 2023. The valuation assumptions used to calculate fair values did not materially differ from those disclosed as of the grant date of the equity awards. The amounts deducted or added in calculating the equity award adjustments are as follows:
Year
Year End
Fair Value
of Equity
Awards
Granted in
the Year
($)
Change
in Fair Value
from End of
Prior Year to
End of
Covered
Year of
Equity
Awards
Granted in
Prior Years
($)
Fair Value
as of Vesting
Date of Equity
Awards
Granted
and Vested
in the Year
($)
Change
in Fair Value
on the Vesting
Date of Equity
Awards
Granted
in Prior
Years that
Vested in
the Year
($)
Fair Value
at the End
of the Prior
Year of
Equity
Awards
that Failed
to Meet
Vesting
Conditions
in the Year
($)
Value of
Dividends
or other
Earnings
Paid on Stock
or Option
Awards not
Otherwise
Reflected
in Fair Value
or Total
Compensation
($)
Total
Equity
Award
Adjustments
($)
2023 3,881,902 1,215,600 165,414 5,262,916
     
Non-PEO NEO Average Total Compensation Amount $ 2,324,333 1,610,028 2,277,693 1,084,843
Non-PEO NEO Average Compensation Actually Paid Amount $ 2,911,977 1,229,432 1,087,697 2,153,958
Adjustment to Non-PEO NEO Compensation Footnote
(4)
Represent the average amount of “compensation actually paid” to the named executive officers as a group (excluding Mr. Christensen), as computed in accordance with Item 402(v) of Regulation S-K. The dollar amounts do not reflect the actual average amount of compensation earned by or paid to the named executive officers as a group (excluding Mr. Christensen) during the applicable year. In accordance with the requirements of Item 402(v) of Regulation S-K, the following adjustments were made to average total compensation for the named executive officers as a group (excluding Mr. Christensen) for 2023 to determine the compensation actually paid, using the same methodology described above in footnote 2:
Year
Average
Reported
Summary
Compensation
Table Total for
Non-PEO NEOs
($)
Less: Average
Reported
Value of
Equity
Awards
($)
Add: Average
Equity
Award
Adjustments
(a)
($)
Average
Compensation
Actually
Paid to
Non-PEO NEOs
($)
2023 2,324,333 (1,192,772) 1,780,416 2,911,977
(a)
The amounts deducted or added in calculating the total average equity award adjustments are as follows:
Year
Average
Year End
Fair Value
of Equity
Awards
Granted in
the Year
($)
Average
Change in
Fair Value from
End of Prior Year
to End of Covered
Year of
Equity Awards
Granted in Prior
Years
($)
Average
Fair Value
as of Vesting
Date of Equity
Awards
Granted and
Vested in
the Year
($)
Average
Change in
Fair Value
on the Vesting
Date of Equity
Awards
Granted in
Prior Years
that Vested
in the Year
($)
Average
Fair Value
at the End
of the Prior
Year of Equity
Awards
that Failed
to Meet
Vesting
Conditions
in the Year
($)
Average
Value of
Dividends
or other
Earnings
Paid on
Stock or
Option
Awards not
Otherwise
Reflected in
Fair Value
or Total
Compensation
($)
Total
Average
Equity
Award
Adjustments
($)
2023 1,507,233 242,092 67,180 (36,090) 1,780,416
     
Compensation Actually Paid vs. Total Shareholder Return
[MISSING IMAGE: lc_cumulativetsr-pn.jpg]
     
Compensation Actually Paid vs. Net Income
[MISSING IMAGE: lc_netincome-pn.jpg]
     
Compensation Actually Paid vs. Company Selected Measure
[MISSING IMAGE: lc_adjustedebita-pn.jpg]
     
Total Shareholder Return Vs Peer Group
[MISSING IMAGE: lc_companytsr-pn.jpg]
     
Tabular List, Table
Tabular List of Most Important Performance Measure
The following presents the performance measure that the Company considers to be the most important in linking compensation actually paid to our NEOs for 2023 to Company performance, the only financial performance measure used in 2023:

Segment Adjusted EBITDA
     
Total Shareholder Return Amount $ (21.2) (63.2) (9.3) (53.5)
Peer Group Total Shareholder Return Amount 3.1 (12.8) 16.2 18.4
Net Income (Loss) $ 2,539 $ (48,620) $ (16,383) $ (85,727)
Company Selected Measure Amount 113,188 94,114 92,892 67,792
PEO Name Mr. Christensen      
Measure:: 1        
Pay vs Performance Disclosure        
Name Segment Adjusted EBITDA      
Non-GAAP Measure Description
(8)
See “Compensation Discussion and Analysis” for a definition of Segment Adjusted EBITDA. Segment Adjusted EBITDA is the sole annual incentive performance measure used by the Committee because it is the primary measure that management uses to evaluate the effectiveness of its business strategies and it allows for improved comparability over prior periods due to significant growth in the Company’s new wellness centers.
     
PEO | Equity Awards Value In Summary Compensation Table (Grant Date Value) [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount $ (2,122,762)      
PEO | Total Equity Awards Adjustments [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 5,262,916      
PEO | Year End Fair Value of Equity Awards [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 3,881,902      
PEO | Change In Fair Value Of Outstanding And Unvested Awards Granted In Prior Fiscal Years [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 1,215,600      
PEO | Change In Fair Value As Of Vesting Date Of Awards Vested During Current Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount      
PEO | Change In Fair Value As Of Vesting Date Of Prior Year Awards Vested During Current Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 165,414      
PEO | Adjustments For Equity Awards Failed To Meet Performance Conditions [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount      
PEO | Dividends Or Other Earnings Paid On Equity Awards Not Otherwise Reflected In Fair Value [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount      
Non-PEO NEO | Equity Awards Value In Summary Compensation Table (Grant Date Value) [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (1,192,772)      
Non-PEO NEO | Total Equity Awards Adjustments [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 1,780,416      
Non-PEO NEO | Year End Fair Value of Equity Awards [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 1,507,233      
Non-PEO NEO | Change In Fair Value Of Outstanding And Unvested Awards Granted In Prior Fiscal Years [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 242,092      
Non-PEO NEO | Change In Fair Value As Of Vesting Date Of Awards Vested During Current Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount      
Non-PEO NEO | Change In Fair Value As Of Vesting Date Of Prior Year Awards Vested During Current Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 67,180      
Non-PEO NEO | Adjustments For Equity Awards Failed To Meet Performance Conditions [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (36,090)      
Non-PEO NEO | Dividends Or Other Earnings Paid On Equity Awards Not Otherwise Reflected In Fair Value [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount