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Life Time’s Akradi Gives Up His Salary

Published Tuesday, March 18, 2008

CHANHASSEN, MN -- Bahram Akradi, CEO of Life Time Fitness, Chanhassen, MN, announced last week that he would forgo his cash salary and cash incentive compensation this year, and this week, the compensation committee of the company’s board approved his decision. Instead, Akradi will receive his entire 2008 compensation in the form of restricted stock. The move is Akradi’s effort to demonstrate his confidence in the value of the company. Since the release of the company’s 2007 financials in late February, Life Time’s stock has fallen to its lowest numbers in 52 weeks. On March 13, the stock ...

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