DEF 14A of Nu Skin Enterprises, Inc., Apr 3, 2026

DEF 14A of Nu Skin Enterprises, Inc.

Filed Apr 3, 2026 · FY20250001140361-26-013152

Open on EDGAR

  1. ELECTION OF DIRECTORS

    ELECTION OF DIRECTORS Directors are elected at each annual meeting of stockholders and hold office until their successors are duly elected and qualified at the next annual meeting of stockholders or until their earlier death, resignation or removal. Our Bylaws provide that the Board of Directors will consist of a minimum of three and a maximum of fifteen directors, with the number being designated by the Board. The current number of authorized directors is nine. Set forth below are the name, age as of April 1, 2026, business experience and other qualifications of each of our nine director nominees, listed in alphabetical order. Each nominee is a current director and was elected at our 2025 annual meeting of stockholders. We are not aware of any family relationships among any of our directors, director nominees or executive officers.

  2. ELECTION OF DIRECTORS

    | Emma S. Battle | | | Director since 2021 | Compensation and Human Capital Committee (Chair) Nominating and Corporate Governance Committee |

  3. ELECTION OF DIRECTORS

    Emma S. Battle, 65, has served as the President and Chief Executive Officer of Market Vigor, LLC, a business services company focused on strategic consulting and digital and online marketing, since she founded the company in 2003. From 2015 to 2017, Ms. Battle was Vice President of Client Success at Windsor Circle, an e-commerce marketing company. Previously, she served in executive and senior marketing and sales roles at Three Ships Media, Red Hat, Art.com, 1 Sync and Sara Lee Branded Apparel (now known as Hanesbrands Inc.). Ms. Battle has served on the board of directors of Unifi, Inc., a global textile solutions provider listed on the NYSE, since 2021 and of Bassett Furniture Industries, Inc., a manufacturer and marketer of home furnishings listed on the Nasdaq Global Select Market, since 2020. From 2019 to 2020, she was on the board of directors of Primo Water Corporation, a provider of drinking water products that was listed on the Nasdaq Global Market until the company was acquired in 2020. Ms. Battle pursues continuing education through online classes and membership in professional organizations like Brentwood Advisory Group, and supports and collaborates with current and aspiring board directors through UNC’s Director Diversity Initiative, Onboard NC, Santa Clara University’s Black Corporate Board Readiness program and the Take Your Seat initiative. Ms. Battle also devotes time to charitable and civic causes; since 2017 she has served as an operations, strategy and marketing consultant to Higher Ed Works d/b/a Public Ed Works, a charitable organization that supports public education in North Carolina, and she also serves on the board of Elon University’s School of Business. She received a B.A. degree from Duke University and an M.B.A. degree from Harvard Business School. Ms. Battle is a successful businessperson with an extensive background in digital and online marketing, marketing analytics, and business and marketing strategy, which is valuable to the Board as we continue to build our digital business. She also brings to the Board her perspective from working with other large corporations and on other public company boards. In addition, Ms. Battle’s experience managing and consulting with smaller, entrepreneurial businesses provides a valuable perspective in managing our business in a manner that is effective for our independent sales force. The Board also values Ms. Battle’s commitment to sustainability and social responsibility, which are two areas of focus for our company and many stockholders.

  4. ELECTION OF DIRECTORS

    | Daniel W. Campbell | | | Director since 1997 | Lead Independent Director Audit Committee Compensation and Human Capital Committee |

  5. ELECTION OF DIRECTORS

    Daniel W. Campbell, 71, has been a Managing General Partner of EsNet, Ltd., a privately held investment company, since 1994. He served on the Utah State Board of Regents for Higher Education from 2010 to 2019, having served as its Vice Chair from 2012 to 2014 and as Chair from 2014 to 2018. From 1992 to 1994, Mr. Campbell was the Senior Vice President and Chief Financial Officer of WordPerfect Corporation, a software company, and prior to that was a partner of Price Waterhouse LLP. He received a B.S. degree from Brigham Young University. Mr. Campbell is a recognized business leader with expertise in the areas of finance, accounting, transactions, corporate governance and management. He has served on the boards of several other private and public companies. In addition, through his experience as a partner of an international accounting firm, and later as Chief Financial Officer of a large technology company, Mr. Campbell has developed deep insight into the management, operations, finances and governance of public companies.

  6. ELECTION OF DIRECTORS

    | Steven J. Lund | | | Director since 1996 (includes three-year leave of absence) | Executive Chairman of the Board |

  7. ELECTION OF DIRECTORS

    Steven J. Lund, 72, has served as the Chairman of the Board since 2012. Mr. Lund previously served as Vice Chairman of the Board from 2006 to 2012. Mr. Lund served as President, Chief Executive Officer and a director of our company from 1996, when our company went public, until 2003, when he took a three-year leave of absence. Mr. Lund was one of our company’s founders. He is a trustee of the Force for Good Foundation, a charitable organization that our company established to help encourage and drive philanthropic efforts for our company, sales force and employees to enrich the lives of others. Mr. Lund worked as an attorney in private practice prior to joining our company as Vice President and General Counsel. He received a B.A. degree from Brigham Young University and a J.D. degree from Brigham Young University’s J. Reuben Clark Law School. Mr. Lund brings to the Board over 35 years of company and industry knowledge and experience as a senior executive, including service as our General Counsel, Executive Vice President, and President and Chief Executive Officer. He played an integral role in managing our growth from start-up through his term as President and Chief Executive Officer. Mr. Lund also served on the Executive Board of the U.S. Direct Selling Association. A respected leader in his business, religious and civic communities, from 2020 to 2025 he served as a general officer of The Church of Jesus Christ of Latter-day Saints and on this Church’s Board of Education with oversight of its institutions of higher education, including Brigham Young University. He also previously served on the Utah State Board of Regents for Higher Education and as Chairman of the Board of Trustees of Utah Valley University.

  8. ELECTION OF DIRECTORS

    | Ryan S. Napierski | | | Director since 2021 | President and Chief Executive Officer |

  9. ELECTION OF DIRECTORS

    Ryan S. Napierski, 52, has served as our company’s CEO since 2021 and as President since 2017. Previously, he served as President of Global Sales and Operations from 2015 to 2017. Prior to serving in that position, he served as both President of our North Asia region since 2014 and President of Nu Skin Japan since 2010. Mr. Napierski has fulfilled multiple leadership positions for Nu Skin since joining our company in 1995, including Vice President of Business Development for Nu Skin EMEA and General Manager of the United Kingdom. Mr. Napierski has a Bachelor’s degree in business, a Master of Business Administration degree from Duke University and a Master’s degree in international business from Goethe Universitat in Germany. Mr. Napierski brings to the Board a strong expertise in direct sales, including through digital and social media platforms. Having served as our CEO, President, President of Global Sales and Operations, and in other management roles in our markets, Mr. Napierski also has a deep understanding of our business globally, including our sales force, products and product development, markets and compensation plans. Mr. Napierski’s leadership has been integral to the success of several of our key initiatives in recent years. Mr. Napierski is also recognized as a leader in the direct selling industry and has served in a variety of industry trade association leadership roles. For example, he is a past Chairman of the U.S. Direct Selling Association and the current Chairman of the Advocacy Committee for the World Federation of Direct Selling Associations.

  10. ELECTION OF DIRECTORS

    | Laura Nathanson | | | Director since 2019 | Compensation and Human Capital Committee Nominating and Corporate Governance Committee (Chair) |

  11. ELECTION OF DIRECTORS

    Laura Nathanson, 68, retired from The Walt Disney Company in 2019 after 21 years of service in sales and advertising positions. From 2017 to 2019, she served as Executive Vice President of Revenue and Operations at Disney Advertising Sales, and from 2002 to 2017, she served as Executive Vice President of Sales and Marketing at ABC Family/Freeform. Prior to 2002, she served in various other sales and advertising positions with ABC Network Sales, Fox Broadcasting and various media agencies. She received a B.A. degree from Wesleyan University. Ms. Nathanson is an experienced leader who brings to the Board her expertise in sales and advertising, as well as a strong customer focus that is built on a 40-year career in connecting with and communicating with customers. Business strategy is also one of Ms. Nathanson’s strengths; during her career, she has recognized and understood shifts in the business landscape, such as the rise of the millennial demographic and the trend toward digital advertising, and has quickly adapted to these shifts, enabling her companies to capitalize on them at an early stage. She also has experience in streamlining business processes and in promoting sales through digital and social media.

  12. ELECTION OF DIRECTORS

    | Thomas R. Pisano | | | Director since 2008 | Audit Committee Compensation and Human Capital Committee |

  13. ELECTION OF DIRECTORS

    Thomas R. Pisano, 81, served as Chief Executive Officer and a director of Overseas Military Sales Corp. (“OMSC”), a marketer of motor vehicles, from 2005 until his retirement in 2010. From 1998 to 2004, he served as the Chief Operating Officer and a director of OMSC. From 1995 to 1997, he served as Vice President and Head of the International Division for The Topps Company, Inc., a sports publications and confectionery products company. Prior to that, he served in various positions, including Vice President of Global New Business Development, for Avon Products, Inc., a direct seller of personal care products, from 1969 to 1994. He received a B.S. from the Georgia Institute of Technology and an M.B.A. from Dartmouth College. Mr. Pisano is an experienced senior executive who is an expert in the direct selling, personal care, beauty products and other consumer goods industries. During his 25-year career at Avon, he was responsible for global new business development, which included new geographic market openings and launching new product lines globally. He was also responsible for the operation of international businesses in Latin America, Europe and Asia. During his international business career at Avon, Topps and OMSC, he traveled to and conducted business in approximately 50 countries.

  14. ELECTION OF DIRECTORS

    | James M. Winett | | | Director since 2025 | Compensation and Human Capital Committee Nominating and Corporate Governance Committee |

  15. ELECTION OF DIRECTORS

    James M. Winett, 60, is a managing member of SIZE Advisory Group LLC, a full-service business advisory firm that he co-founded in 2020, where he provides consulting services to companies in the growth and acceleration stage, venture-backed companies that need to extend their runway and chart their path to profitability, and large enterprises seeking to optimize their customers’ journey. From 2001 to 2023, Mr. Winett was a consultant at other firms that he founded, including DPAA Group, Inc., where he served as a managing member from 2014 to 2023. He began his career at Price Waterhouse LLP, where he served in both the Audit and Assurance Group and the Corporate Recovery and Business Turnaround Services Group. He received a B.S. degree in accountancy from the University of Illinois at Urbana-Champaign and an M.B.A. degree from Northwestern University’s Kellogg School of Management. Mr. Winett’s many years of consulting experience and his expertise in strategic planning, operations and finance are an asset to our Board. Mr. Winett has guided numerous businesses and management teams through a variety of situations and challenges to help them to grow and to execute on business transformations. In addition, through his consulting services, he has assisted with many corporate transactions and financings, which, together with his experience in consulting small businesses and start-up companies, are a benefit to our Rhyz strategic investment arm.

  16. ELECTION OF DIRECTORS

    | Edwina D. Woodbury | | | Director since 2015 | Audit Committee (Chair) Nominating and Corporate Governance Committee |

  17. ELECTION OF DIRECTORS

    Edwina D. Woodbury, 74, has over 20 years of experience in the direct selling and personal care products industries, having served at Avon Products, Inc. as Chief Financial and Administrative Officer and in other finance and operations positions from 1977 to 1998. From 1998 to 2015, Ms. Woodbury served as a member of the board of directors of RadioShack Corporation, a retail consumer electronics company. In addition, from 2005 to 2010, Ms. Woodbury served as a member of the board of directors of R.H. Donnelley Corporation, a publishing and marketing company, and from 2000 to 2005, she served as a director of Click Commerce, Inc., a research solutions company. Ms. Woodbury also served as President and Chief Executive Officer of The Chapel Hill Press, Inc., a publishing services company, from 1999 to 2023, and she served on the board of directors of the nonprofit Medical Foundation of North Carolina from 2009 to 2018. She received a B.S.B.A from the University of North Carolina. Ms. Woodbury has extensive experience and understanding of our industry. While serving in various roles of increasing responsibility during her 21 years at Avon, she gained an in-depth understanding of the financial and internal control-related issues associated with global companies in our industry. She also brings to the Board valuable perspective from her service on other public company boards. While serving on the boards of Click Commerce, R.H. Donnelley and RadioShack, she (1) served on and chaired each board’s audit committee; (2) served on the compensation committee at R.H. Donnelley and chaired it at RadioShack; and (3) served on the nominating and governance committee at Click Commerce and RadioShack.

  18. ELECTION OF DIRECTORS

    | Mark A. Zorko | | | Director since 2024 | Audit Committee Nominating and Corporate Governance Committee |

  19. ELECTION OF DIRECTORS

    Mark A. Zorko, 74, is a seasoned business professional who has served as a CFO, board member and audit committee chairman at several public and private companies during his career. He has worked as a consultant since 2013 and currently serves as an advisor to two early-stage entrepreneurial businesses. Since 2020, he has been the chairman of the board at Modern Mining Technology Corp., a privately held e-waste processing firm. His past board service includes Westell Technologies, Inc. (2017–2024), a provider of network infrastructure solutions that trades on the OTC markets (previously on Nasdaq), where he was the audit committee chairman and a member of the compensation committee, as well as other Nasdaq/OTC public companies where he served as a director prior to 2020. From 2017 to 2023, Mr. Zorko was president of Brentwood 401k, LLC, a firm that he founded to provide 401(k) plan advisory services to middle-market companies. Between 2006 and 2019, Mr. Zorko served as CFO or interim CFO at a variety of public companies listed on the New York Stock Exchange, OTC markets and London Stock Exchange AIM Market. From 2000 to 2010, he was a partner at Tatum CFO Partners, LLP, an executive services firm at which he served in financial leadership positions for several clients, and he previously worked in finance and accounting roles at Honeywell, Inc., Zenith Data Systems Corporation and Arthur Andersen & Co. Mr. Zorko served in the U.S. Marine Corps and currently is on the board of directors of Military Outreach USA. He holds a B.S.B.A. degree in accounting from The Ohio State University and an M.B.A. degree from the University of Minnesota. He is a certified public accountant, NACD Director Certified and Board Leadership Fellow, and in 2019 he earned NACD’s CERT Certificate in Cybersecurity Oversight. He currently serves on NACD’s Research Triangle Chapter Board. Mr. Zorko brings many years of expertise in strategic planning, finance, accounting, international operations, mergers and acquisitions, information technology, audit oversight, and corporate governance. Our Board also believes his extensive executive experience and his service on other public company boards enable him to be an effective Board member. In addition, Mr. Zorko’s experience consulting with smaller, entrepreneurial businesses provides a valuable perspective in managing our business in a manner that is effective for our independent sales force. Finally, through his experience as a CFO and audit committee chairman at multiple public companies, Mr. Zorko has developed deep insight into the management, operations, finances and governance of public companies. Each nominee was recommended by the Nominating and Corporate Governance Committee for election and has consented to being named in any proxy statement for the Annual Meeting and to serve if elected. Although we do not know of any reason for which any nominee might become unavailable to serve on the Board, if that should happen, the Board may designate a substitute nominee. Shares represented by proxies will be voted for any substitute nominee so designated. THE BOARD OF DIRECTORS RECOMMENDS THAT STOCKHOLDERS VOTE “FOR” EACH OF THE NINE NOMINEES TO OUR BOARD OF DIRECTORS.

  20. Board Committees

    | − | Overseeing the administration and maintenance of our broad-based retirement and non-qualified deferred compensation benefit plans to the extent such functions have not been delegated to a management-level committee. |

  21. Board Committees

    | − | Making recommendations to the Board regarding changes in compensation of non-employee directors and overseeing the evaluation of the Board and management; |

  22. DIRECTOR COMPENSATION

    DIRECTOR COMPENSATION Our Nominating and Corporate Governance Committee is responsible for evaluating director compensation from time to time, and when it determines that adjustments are appropriate, it recommends them to the Board of Directors for its consideration. The Nominating and Corporate Governance Committee has retained the services of Semler Brossy as its independent compensation consultant to assist in the review of our director compensation program, to provide compensation data and alternatives, and to provide advice as requested. For additional information regarding our independent compensation consultant, see “Executive Compensation: Compensation Discussion and Analysis”—“Role of Compensation Consultant.” The following table summarizes our non-employee director compensation program, which applies to each director who does not receive compensation as an executive officer or employee of our company. The amounts shown in the table were implemented during 2021 following a review of our director compensation program. Periodic reviews of the program have been performed since 2021, most recently in 2025, and our Nominating and Corporate Governance Committee has determined not to recommend changes based on such reviews.

  23. DIRECTOR COMPENSATION

    | Non-Employee Director Compensation | | | Annual cash retainer | | | Board | $85,000 | | Committee | $10,000 per committee | | Additional annual cash retainer for leadership: | | | Lead Independent Director | $25,000 | | Audit Committee Chair | $20,000 | | Other committee chairs | $15,000 | | Meeting fees | None(1) | | Annual equity award (restricted stock units) | $150,000 value |

  24. DIRECTOR COMPENSATION

    | (1) The Board can approve meeting fees for participation in a special committee or other extraordinary circumstances. |

  25. DIRECTOR COMPENSATION

    In addition, we may compensate a director $1,500 per day for corporate events or some travel that we require, and we may reimburse directors for reasonable expenses incurred in attending Board and committee meetings and other corporate events. We also provide company products to our directors for personal and immediate family use. Pursuant to the terms of our Amended and Restated 2024 Omnibus Incentive Plan, the cash compensation and the aggregate grant date fair value (computed in accordance with applicable financial accounting rules) of awards under the Plan provided to any non-employee director during any single calendar year cannot exceed $750,000.

  26. Director Compensation Table – 2025

    Director Compensation Table – 2025 The table below summarizes the compensation earned by or paid to each person who served as a director during 2025 except Mr. Napierski, whose compensation is reported in the executive compensation tables. Mr. Napierski served as a director, but as a company employee he received no compensation for services as a director.

  27. Director Compensation Table – 2025

    | Name | Fees Earned or Paid in Cash ($) | Stock Awards ($)(1) | All Other Compensation ($)(2) | Total ($) | | Emma S. Battle | 120,000 | 145,865 | — | 265,865 | | Daniel W. Campbell | 140,500 | 145,865 | 27,992 | 314,357 | | Laura Nathanson | 120,000 | 145,865 | — | 265,865 | | Thomas R. Pisano | 105,000 | 145,865 | — | 250,865 | | Zheqing (Simon) Shen | 41,083 | — | 57 | 41,141 | | James M. Winett | 61,250 | 145,865 | — | 207,115 | | Edwina D. Woodbury | 125,000 | 145,865 | 272 | 271,137 | | Mark A. Zorko | 115,500 | 145,865 | 16,079 | 277,444 | | Steven J. Lund | — | — | 748,700 | 748,700 |

  28. Director Compensation Table – 2025

    | (1) On June 2, 2025, each of the directors listed in the table above except for (a) Mr. Shen, who retired from the Board; and (b) Mr. Lund, who is an employee, was granted 18,008 restricted stock units, which will vest on May 28, 2026. The amounts reported in this column reflect the aggregate grant date fair value of the foregoing restricted stock units. For this purpose, the value of the restricted stock units is discounted to reflect that no dividends are paid prior to vesting. |

  29. Director Compensation Table – 2025

    As of December 31, 2025, none of the directors listed in the table above had any outstanding stock awards or option awards besides the restricted stock units noted in the previous paragraph.

  30. Director Compensation Table – 2025

    | (2) This column reports our incremental cost for perquisites and other personal benefits provided to those directors whose total was at least $10,000, as well as other forms of compensation. |

  31. Director Compensation Table – 2025

    | − | The amounts reported for Messrs. Campbell and Zorko include spouse travel to a sales force event where their spouses were expected to help entertain and participate in events with our sales force and their spouses, reimbursements by us for the payment of taxes with respect to such spouse travel, and company products. |

  32. Director Compensation Table – 2025

    | − | The amount reported for Mr. Lund consists of Mr. Lund’s compensation as an employee of the company for 2025: $553,233 in salary; a cash incentive plan bonus of $72,353; and $123,114 in other compensation, including $32,420 in premiums for life insurance, $14,000 in 401(k) contributions, $49,527 in spouse travel for three different events (two sales force events where his spouse was expected to help entertain and participate in events with our sales force and their spouses, and one humanitarian trip), $22,620 of reimbursements by us for the payment of taxes with respect to such spouse travel, company products, home security monitoring, and premiums for long-term disability insurance. |

  33. Director Compensation Table – 2025

    EXECUTIVE COMPENSATION:

  34. Executive Summary

    | − | Drive superior stockholder value over the long term; |

  35. Executive Summary

    | − | Provide competitive compensation arrangements that are tied to corporate and individual performance in the short- and long-term. |

  36. Executive Summary

    | Cash Incentive Bonuses 15% of CEO 2025 Target Pay 18% of Other NEOs’ 2025 Target Pay | | | Long-Term Incentives 71% of CEO 2025 Target Pay 57% of Other Continuing NEOs’ 2025 Target Pay | | | Annual Incentive | | | Time-Based Restricted Stock Units (RSUs) 50% weighting | Performance-Based Restricted Stock Units (PRSUs) 50% weighting | | Measures one-year financial and operational performance (2025) | | | Measures four-year stock price performance (2025– 2028) | Measures one-year financial performance over three years (2025, 2026, 2027) | | Metric: Adjusted revenue | Metric: Adjusted operating income | Metric: Strategic goals | Metric: Stock price | Metric: Adjusted EPS | | 37.5% weighting | 37.5% weighting | 25% weighting | | | | Incentivizes business growth | Incentivizes profitability and control of expenses | Incentivizes driving our company strategies for future growth and stockholder value | Aligns management with stockholders’ interests Promotes multi-year retention | Aligns management with stockholders’ interests Provides a balance to the top-line and operating- income metrics in the cash incentive bonus program | | Adjusted revenue and adjusted operating income are calculated on a constant-currency basis from the prior-year period and are adjusted to eliminate extraneous items such as the impact of accounting changes; losses or gains on settlements of litigation that began prior to 2025; and other items that are non-recurring, unusual, infrequent or outside of management’s control, at the Committee’s discretion Strategic goals are formulaically evaluated against pre-established quantitative goals | | | Final value of award tied to stock price | Adjusted EPS is calculated to eliminate extraneous items such as the impact of accounting changes; losses or gains on settlements of litigation that began prior to 2025; and other items that are non-recurring, unusual, infrequent or outside of management’s control |

  37. Executive Summary

    | Performance-Based Award | Percent of Target Earned | | 2025 Cash Incentive Bonus—Executive Cash Incentive Plan(1) | 22% | | 2025 PRSU Awards – Tranche 1 of 3 (measuring 2025 results)(2) | 200% | | 2024 PRSU Awards – Tranche 2 of 3 (measuring 2025 results)(2) | 68% | | 2023 PRSU Awards – Tranche 3 of 3 (measuring 2025 results)(2) | 0% |

  38. Executive Summary

    | What We Do | What We Don’t Do | | ✔ Link pay outcomes directly to company and share price performance in support of a pay-for-performance philosophy ✔ Utilize multiple, complementary incentive measures in the annual and long-term incentive plans that align with key drivers of stockholder value creation ✔ Utilize double-trigger change in control benefits ✔ Employ a comprehensive clawback policy ✔ Require robust equity retention for directors and executives ✔ Assess compensation risk annually ✔ Engage an independent compensation consultant | No evergreen employment agreements No hedging or pledging of Nu Skin shares No excessive perquisites No excise tax gross-ups for NEOs No payment of current dividends on unvested equity No repricing of stock options without stockholder approval |

  39. Compensation Overview

    | − | Drive superior stockholder value over the long term; |

  40. Compensation Overview

    | − | Provide competitive compensation arrangements that are tied to corporate and individual performance in the short- and long-term. |

  41. Compensation Overview

    | Component of Compensation Program | Objective | | | Base Salary (Fixed Pay) | − − | Pay for role Aids in recruitment and retention | | Cash Incentive Plan (Variable Pay: Short-Term Incentive) | − − − | Pay for performance Aligns with annual operating achievement Aids in recruitment and retention | | Equity Incentive Plan (Variable Pay: Long-Term Incentive) | − − − | Pay for performance Aligns with stock price performance and multi-year operating achievement Aids in recruitment and retention |

  42. Components of Compensation

    Cash Incentive Bonuses For 2025, each of the NEOs participated in our Executive Cash Incentive Plan. This plan awards cash incentive bonuses based on achievement of financial goals—using the metrics of adjusted revenue and adjusted operating income—and strategic goals. Target Bonus. Cash incentive bonuses are computed based on the degree to which pre-determined goal performance levels are met or exceeded. If goal performance levels are met for a particular year, a participant will earn a bonus equal to a pre-established percentage of year-end base salary, the “target bonus.” We set the target bonus as a percentage of base salary based on an executive officer’s position and responsibility and on market practices. In addition to reviewing and adjusting our NEOs’ base salaries as discussed above, the Committee also determined to reduce the CEO’s target bonus percentage by 10 percentage points, from 110% to 100%, for 2025. The following table provides the target bonus percentages (as a percentage of salary) for each of our NEOs in 2025.

  43. Components of Compensation

    | Name | 2025 Target Bonus % | | Ryan S. Napierski | 100% | | James D. Thomas | 75% | | Chayce D. Clark | 75% | | Steven K. Hatchett | 75% | | Justin S. Keisel | 75% |

  44. Components of Compensation

    Calculation of Bonus: Achievement of Performance Goals and Potential Adjustment for Individual Performance. The precise percentage of target bonus that a participant earns is based on the degree to which pre-determined performance levels are met or exceeded for the year. Participants may earn between 25% and 200% of their target bonus opportunity attributable to each goal based on performance against established minimum, goal and stretch performance levels, with payouts determined on a linear interpolation basis between such levels. If the minimum adjusted operating income threshold is not achieved, then (1) no payout is made with respect to the adjusted revenue metric; and (2) any payout for achievement of the strategic goals is capped at 25% of the participant’s target bonus opportunity. Notwithstanding the above methodology, the Committee may adjust an executive’s bonus based on factors it considers relevant, including individual performance and certain compliance-related objectives. Establishment of Performance Goals. In establishing the performance levels in our Executive Cash Incentive Plan, the Committee considers various factors, including our recent performance and current business plans; general business and economic conditions; business risks; and our company’s business objectives, which for 2025 focused on growth in our business, improving our affiliate-focused programs, optimizing our product portfolio, refining our digital ecosystem and strengthening our Rhyz strategic investment arm. After considering these factors, the Committee set the 2025 performance goals that are described below. Our 2025 Executive Cash Incentive Plan was based on achievement of goals related to adjusted revenue, adjusted operating income and strategic goals. The adjusted revenue and adjusted operating income metrics were equally weighted, totaling 75%, because management is responsible for both growing the business and increasing profitability, including control of expenses. The strategic goals were weighted at 25% to drive key company strategies for future growth and stockholder value.

  45. Components of Compensation

    | (dollar amounts in thousands) | | | | | | | | Metric | 2025 Targets | | | 2025 Result (1) | % of Goal Level Achieved | % of Target Bonus Paid | | | Minimum | Goal | Stretch | | | | | Financial Goals—75% weighting, split evenly between the two metrics | | | | | | | | Adjusted revenue | $1,600,000 | $1,681,000 | $1,761,000 | $1,498,594 | 89.1% | 0.0% | | Adjusted operating income | $112,400 | $143,200 | $176,500 | $101,633 | 71.0% | 0.0% | | Strategic Goals—25% weighting, split evenly among the three metrics | | | | | | | | Adjusted Nu Skin gross margin | 76.6% | 77.1% | 77.6% | 77.3% | 100.3% | 143.8% | | Adjusted Nu Skin selling expense percentage | 40.8% | 40.4% | 40.0% | 40.3% | 105.1%(2) | 119.3% | | Adjusted Rhyz revenue | $230,000 | $240,000 | $250,000 | $223,582 | 93.2% | 0.0% | | Aggregate payout percentage: | | | | | | 21.9% |

  46. Components of Compensation

    | Name | Target Bonus | Actual Bonus | Bonus Payout % | | Ryan S. Napierski | 1,000,000 | 219,250 | 21.9% | | James D. Thomas | 367,500 | 80,574 | 21.9% | | Chayce D. Clark | 435,000 | 95,374 | 21.9% | | Steven K. Hatchett | 322,500 | 70,708 | 21.9% | | Justin S. Keisel | 348,750 | 76,463 | 21.9% |

  47. Components of Compensation

    Equity Awards Aligning the interests of our executive officers with those of our stockholders is an important objective of our compensation program. To accomplish this objective, we tie a significant portion of our executive officers’ total compensation to our long-term stock performance through the grant of equity awards and to our equity retention guidelines, which require our executive officers to retain a specified amount of their equity. We also believe that equity compensation helps motivate executive officers to drive earnings growth because they will be rewarded with increased equity value, and assists in the retention of executive officers who may have significant value tied up in unvested equity awards. Calibration of Equity Awards. We periodically review and adjust the level of our equity awards. We do not use a fixed formula or criteria in determining whether to adjust the level of equity awards, but subjectively evaluate a variety of factors, such as:

  48. Components of Compensation

    | − Practices of peer companies − Degree of responsibility for overall corporate performance − Overall compensation levels − Changes in position and/or responsibilities − Individual performance − Company performance − Total stockholder return | − Degree of performance risk in the equity grant program − Potential dilution of our overall equity grants − Accumulated realized and unrealized value of past equity awards − Associated expenses of equity awards − The recommendations of the CEO − Data and context provided by our compensation consultant |

  49. Components of Compensation

    Historically, we have referenced peer company compensation data for context on pay levels and performance requirements compared to our peers. We generally have not given significant consideration to the value of existing equity award holdings because we want to ensure that our equity compensation is competitive for the position on an annualized basis and we want to provide an incentive from the date of grant. However, we periodically review and consider the in-the-money value of existing award holdings of our executive officers in connection with our review of equity compensation practices to determine if wealth creation is aligning with performance and the amount of unvested equity in place for retention. Use of Performance-Based Equity Awards. The annual equity award consists of a mix of PRSUs and RSUs. Approximately 50% of the equity awards granted in our annual program in 2025 were performance based, and they are earned for achieving multi-year performance goals. To align management with our stockholders’ interests, the performance goals are tied to adjusted EPS, measured as diluted EPS excluding extraneous items such as the impact of accounting changes; losses or gains on settlements of litigation that began prior to 2025; and other items that are non-recurring, unusual, infrequent or outside of management’s control. The adjusted EPS metric also provides a balance to the top-line and operating-income metrics in the cash incentive bonus program. Consistent with our historical practice, NEOs earn 100% of their target award if performance is at goal level, and they earn 25% of their target award if performance is at the minimum level. The terms of the performance-based equity awards give NEOs the opportunity to earn up to 150% of their target award if performance meets certain pre-defined “stretch” levels, and up to 200% if performance meets certain pre-defined “super stretch” levels. This closely aligns the maximum payout opportunity with competitive practice and further strengthens our alignment with stockholders. Our performance-based equity awards are typically divided into three equal tranches. The three tranches are contingent on performance over the year of the grant and the two following years, respectively. Although the grants measure three one-year periods, the goals for all three years are established up front at the time of grant to ensure a longer-term orientation without the “reset” of goals each year. As reflected in the following table, the performance-based equity awards granted in February 2025 to the NEOs who were serving as executive officers at that time were weighted at 50%.

  50. Components of Compensation

    | Target Equity Awards—February 2025 | | | | Name | Perf.-Based RSUs ($) | Time-Based RSUs ($) | | Ryan S. Napierski | 2,400,000 | 2,400,000 | | James D. Thomas | 550,000 | 550,000 | | Chayce D. Clark | 875,000 | 875,000 | | Steven K. Hatchett | 500,000 | 500,000 | | Justin S. Keisel | 400,000 | 400,000 |

  51. Components of Compensation

    Performance-Based Awards Granted in 2023–2025—Goals and Vesting. Our performance-based equity awards in the past several years have generally been structured with three tranches, with vesting contingent on the achievement of adjusted EPS goals in the year of grant and in each of the two following years. The goals for all three of these one-year periods are set at the time of grant. Performance-based equity awards granted in 2023, 2024 and 2025 included tranches that were contingent on 2025 results. One of these three tranches ultimately paid out at 0%, and the other two were earned at varying degrees:

  52. Process for Determining Compensation

    Process for Determining Compensation Role of Compensation and Human Capital Committee and Chief Executive Officer The Committee is responsible for establishing and administering our executive compensation program. The Committee participates in the performance evaluation process of the Chairman and of the CEO, which process is led by the Nominating and Corporate Governance Committee. The Committee is then responsible for setting their compensation. The CEO, with oversight by the Nominating and Corporate Governance Committee, is responsible for evaluating the performance of the other executive officers and then making recommendations to the Committee with regard to the compensation packages for these officers. The Committee reviews any such recommendations and has the authority to approve, revise or reject such recommendations. Role of Compensation Consultant The Committee has retained the services of Semler Brossy as its independent compensation consultant to assist in the review of our executive compensation program, to provide compensation data and alternatives to the Committee, and to provide advice to the Committee as requested, including limited advice regarding employee equity grants and the compensation programs of our subsidiary companies when requested by the Committee. The Committee utilizes the compensation data and alternatives provided by the compensation consultant to analyze compensation decisions in light of current market rates and practices. During 2025, Semler Brossy did not perform any work for us outside of the services performed for the Committee and for the Nominating and Corporate Governance Committee with respect to director compensation. The Committee annually reviews the independence of its compensation consultant in light of SEC rules and NYSE Listed Company Rules regarding compensation consultant independence and has concluded that Semler Brossy is independent from the company and has no conflicts of interest related to its engagement by the Committee. In addition, during 2024–2026, management retained the services of Meridian Compensation Partners to advise and assist management and the Committee on equity plan matters, including the terms of our 2024 Omnibus Incentive Plan and its amendments, including the amendment of that plan that is described in this proxy statement. Use of Competitive Data The Committee uses peer group information in making compensation decisions. The Committee compares compensation proposals to the compensation practices of a peer group of publicly-traded companies that compete with us broadly in the consumer products industry and are similar in size to us by revenue and market capitalization. The Committee also places an emphasis on companies with a focus on connected devices and those that are in a similar talent market. The peer group was used in making compensation decisions for 2025, and it consists of the following companies:

  53. Process for Determining Compensation

    In July 2025, the Committee reviewed the peer group and determined that no changes were necessary; as a result, the above peer group was again used in making compensation decisions for 2026. Mix of Compensation When the Committee reviews an executive officer’s compensation, it does not use a specific formula or allocation target to establish the level or mix of total compensation. Rather, it exercises judgment in determining a compensation package that is appropriate to accomplish our compensation objectives under the circumstances applicable to the executive officer. The Committee also reviews the relative mix of compensation provided by other companies in our peer group for context and tries to ensure each component is competitive. Historically, we have tied a substantial amount of compensation to corporate performance under our cash incentive plan and equity incentive plan. The Committee also reviews each executive officer’s total compensation as a market check against the total compensation of executive officers in our peer group. This total compensation review focuses on base salary, cash bonuses, and valuation of equity grants using grant date valuations. The Committee periodically reviews perquisites and retirement benefits to confirm that they remain relatively consistent with the value of perquisites and retirement benefits provided by our peer companies. Risks Arising From Compensation Policies and Practices In establishing and reviewing the components of compensation, the Committee considers potential risks associated with such components. In addition, our management conducted a review of our compensation policies and practices for employees and concluded that risks arising from such compensation policies and practices, as they relate to risk management practices and risk-taking incentives, are not reasonably likely to have a material adverse effect on us. In reaching this conclusion, our management considered the following factors:

  54. Process for Determining Compensation

    | − | Our compensation programs are market driven and balance short-term incentives with significant long-term incentives. These awards are capped with maximum payout amounts to avoid encouraging excessive risks. |

  55. Process for Determining Compensation

    | − | Performance-contingent awards provide additional long-term incentives to our key employees and executive officers. In addition, our equity retention guidelines help to ensure that a portion of our executives’ equity incentives remains tied to our long-term performance. |

  56. Other Compensation-Related Governance

    Other Compensation-Related Governance Clawback Policies and Provisions We have the following clawback-related policies and provisions: Amended and Restated 2024 Omnibus Incentive Plan and Awards Thereunder. Pursuant to our Amended and Restated 2024 Omnibus Incentive Plan (the “Plan”), any and all awards granted under the Plan will be canceled if the participant violates a non-competition, non-solicitation or non-disclosure covenant or agreement or otherwise engages in activity that is in conflict with or adverse to our interests, including conduct contributing to any financial restatements or financial irregularities, as determined by the Committee. In addition, all compensation awarded under our current and prior plans will be subject to recovery or other penalties pursuant to (i) any clawback policy of the company, as may be adopted or amended from time to time, including our Executive Officer Incentive Compensation Recovery Policy (the “Recovery Policy”); (ii) any clawback provision set forth in an award agreement; and (iii) any applicable law, rule or regulation or applicable stock exchange rule, including, without limitation, Section 304 of the Sarbanes-Oxley Act of 2002. Further, if we are required to prepare an accounting restatement as defined in the Recovery Policy, the Recovery Policy shall apply to the fullest extent required by applicable law, rule, regulation, or stock exchange rule or listing standard, and in such case or in any other circumstances determined appropriate by the Committee, the Committee may terminate any awards granted under our current and prior plans and/or require any participant to reimburse us for the amount of any payment or benefit received with respect to such awards to the extent they would not have been earned or accrued after giving effect to the restatement. Consistent with the Plan, our equity incentive awards (including both time- and performance-based equity awards) and our cash incentive awards contain cancellation, clawback and recoupment provisions that allow the Committee to recover an executive’s gains from such awards if the executive materially breaches certain obligations or covenants, including non-competition, non-solicitation and non-disclosure covenants, or willfully engages in or is convicted of certain illegal activity, fraud or other misconduct. In such event, we may terminate the outstanding awards of such executive and recover any gains from the awards during the 12 months preceding the act or anytime thereafter. Our cash incentive awards and performance-based equity awards additionally include similar cancellation, clawback and recoupment provisions that apply in the case of a financial restatement to the extent the award would not have been earned or accrued after giving effect to the restatement. Recovery Policy. In November 2023, we adopted our Recovery Policy in compliance with NYSE listing standards and Section 10D of the Securities Exchange Act of 1934. The Recovery Policy applies to current or former Section 16 officers in the event that we are required to prepare an accounting restatement due to material noncompliance with any financial reporting requirement under the securities laws; misconduct on the part of the executive is not required. Under the Recovery Policy, we are required to recoup incentive-based compensation (as that term is defined in Section 10D of the Exchange Act, which includes our performance-based RSU awards and our annual cash incentive awards) erroneously received within the three fiscal years preceding the date restatement is determined to be required. A copy of the Recovery Policy was included as an exhibit to our Annual Report on Form 10-K for the fiscal year ended December 31, 2025. As we were not required to prepare an accounting restatement during or after 2025, we have not had to assess seeking recovery of compensation pursuant to our Recovery Policy. In addition, as of the end of 2025, there was not an outstanding balance of compensation to be recovered due to any prior restatement. Timing of Option Awards Because we have not granted option awards in our executive compensation program since 2021, we have not implemented policies or practices regarding the timing of option awards in relation to the disclosure of material nonpublic information. Equity Retention Guidelines Our equity retention guidelines are designed to motivate our executive officers and directors to consider the long-term consequences of business strategies and to provide a level of long-term performance risk with respect to our compensation programs. These guidelines generally require executive officers and directors to retain 50% of the net shares (after payment of the exercise price and related taxes) with respect to any equity award unless the individual holds a number of shares having a value equal to a multiple of his or her base salary (for executives) or annual cash retainer (for non-management directors, and excluding any additional retainers paid for Board/committee leadership roles and committee service), as follows:

  57. Summary Compensation Table

    Summary Compensation Table The following table summarizes the total compensation of each of the NEOs for 2023, 2024 and 2025, as calculated in accordance with SEC rules. The amounts in the “Stock Awards” and “Option Awards” columns do not necessarily reflect the amounts actually earned by the NEOs because these amounts are calculated at the time of the grant, and they are not subsequently adjusted based on fluctuations in our stock price prior to vesting or the degree to which performance-based equity awards are ultimately earned or not earned based on company performance.

  58. Summary Compensation Table

    | Name and Principal Position | Year | Salary ($)(1) | Bonus ($)(2) | Stock Awards ($)(3) | Non-Equity Incentive Plan Compensation ($)(4) | All Other Compensation ($)(5) | Total ($) | | Ryan S. Napierski President and Chief Executive Officer | 2025 | 1,008,082 | — | 4,616,823 | 219,250 | 121,050 | 5,965,206 | | | 2024 | 1,041,803 | — | 4,517,549 | 288,750 | 144,987 | 5,993,088 | | | 2023 | 991,918 | — | 4,046,074 | 641,300 | 159,287 | 5,838,579 | | James D. Thomas Former EVP and Chief Financial Officer | 2025 | 491,616 | — | 1,058,030 | 80,574 | 77,782 | 1,708,003 | | | 2024 | 491,803 | 800,000 | 1,035,271 | 93,750 | 92,032 | 2,512,856 | | | 2023 | 410,595 | 7,692 | 1,165,743 | 182,980 | 88,030 | 1,855,040 | | Chayce D. Clark EVP and General Counsel | 2025 | 584,041 | — | 1,683,225 | 95,374 | 89,595 | 2,452,235 | | | 2024 | 595,984 | 1,000,000 | 1,647,035 | 113,438 | 106,933 | 3,463,389 | | | 2023 | 533,836 | — | 1,379,344 | 240,488 | 122,147 | 2,275,814 | | Steven K. Hatchett EVP and Chief Product Officer | 2025 | 431,616 | — | 961,851 | 70,708 | 49,559 | 1,513,735 | | | 2024 | 436,066 | 100,000 | 941,166 | 82,500 | 39,657 | 1,599,389 | | | 2023 | 413,414 | — | 781,628 | 181,896 | 37,952 | 1,414,890 | | Justin S. Keisel EVP and President of Global Sales | 2025 | 440,589 | — | 769,478 | 76,463 | 57,921 | 1,344,451 | | | 2024 | 366,257 | 160,678 | 382,000 | 11,854 | 52,829 | 973,617 |

  59. Summary Compensation Table

    | (1) Messrs. Napierski, Thomas and Clark deferred a portion of their salaries under our nonqualified Deferred Compensation Plan, which is included in the Nonqualified Deferred Compensation – 2025 table. Each of the NEOs also contributed a portion of their salary to our 401(k) retirement savings plan. |

  60. Summary Compensation Table

    | (2) As described in our 2025 Proxy Statement, the amounts in this column for 2024 include certain discretionary bonuses: (a) following the sale of our Mavely business on January 2, 2025, the Committee awarded bonuses to each of the NEOs, other than our CEO, to recognize their performance in creating value in this business and achieving a successful transaction; (b) the Committee awarded a one-time discretionary bonus to Mr. Keisel based on his performance in helping to drive the results under the strategic goals in our Executive Cash Incentive Plan for 2024; and (c) Mr. Keisel also received a holiday bonus that is given to all of our non-executive corporate employees, pro-rated to reflect the time during 2024 preceding his promotion to an executive officer position. |

  61. Summary Compensation Table

    | (3) The amounts reported in this column reflect the aggregate grant date fair value of equity awards computed in accordance with FASB ASC Topic 718 and, for performance-based awards, are based on the probable outcome of the performance conditions as of the grant date. The amounts do not represent amounts actually received by the NEOs. For this purpose, the estimate of forfeitures is disregarded, and the value of the stock awards is discounted to reflect that no dividends are paid prior to vesting. For information on the valuation assumptions used in calculating these amounts, refer to Notes 2 and 10 to the financial statements in our Annual Report on Form 10-K filed for the fiscal year ended December 31, 2025. |

  62. Summary Compensation Table

    The aggregate grant date fair value of the 2025 PRSU awards, assuming achievement of the maximum performance level, would be: Mr. Napierski – $4,650,976; Mr. Thomas – $1,065,857; Mr. Clark – $1,695,677; Mr. Hatchett – $968,967; and Mr. Keisel – $775,171.

  63. Summary Compensation Table

    | (4) See “Executive Compensation: Compensation Discussion and Analysis”—“Cash Incentive Bonuses” for information regarding the amounts reported in this column. For 2025, Mr. Napierski deferred a portion of his bonus under our nonqualified Deferred Compensation Plan, which deferral is reflected in the Nonqualified Deferred Compensation – 2025 table. |

  64. Summary Compensation Table

    | (5) The following table describes the components of the All Other Compensation column for 2025 in the Summary Compensation Table. |

  65. Summary Compensation Table

    | Name | Company Contributions to Deferred Compensation Plan ($) | Company Contributions to 401(k) Retirement Savings Plan ($) | Perquisites and Other Personal Benefits ($)(a) | Other ($) | Total ($) | | Ryan S. Napierski | 101,058 | 14,000 | — | 5,993 | 121,050 | | James D. Thomas | 49,212 | 14,000 | 11,067 | 3,503 | 77,782 | | Chayce D. Clark | 58,529 | 14,000 | 13,256 | 3,811 | 89,595 | | Steven K. Hatchett | 21,606 | 14,000 | 11,768 | 2,185 | 49,559 | | Justin S. Keisel | 21,817 | 14,000 | 19,945 | 2,159 | 57,921 |

  66. Summary Compensation Table

    | (a) This column reports our incremental cost for perquisites and other personal benefits provided to those NEOs whose total was at least $10,000. In 2025, these included the personal use of company-provided properties, tickets for sporting events, company products, and guest travel to a sales force event where the guest was expected to help entertain and participate in events with our sales force and their guests. |

  67. Grants of Plan-Based Awards – 2025

    Grants of Plan-Based Awards – 2025 The following table provides information about equity and non-equity incentive plan awards granted to each NEO in 2025.

  68. Grants of Plan-Based Awards – 2025

    | | | Estimated Possible Payouts Under Non-Equity Incentive Plan Awards | | | Estimated Future Payouts Under Equity Incentive Plan Awards | | | All Other Stock Awards: Number of Shares of Stock or Units (#) | Grant Date Fair Value of Stock and Option Awards ($)(3) | | Name | Grant Date | Threshold ($)(1) | Target ($)(1) | Max ($)(1) | Threshold (#)(2) | Target (#)(2) | Max (#)(2) | | | | Ryan S. Napierski | | | | | | | | | | | | 2/26/2025 | | | | 77,620 | 310,479 | 620,958 | | 2,325,488 | | | 2/26/2025 | | | | | | | 310,479 | 2,291,335 | | | N/A | 20,833 | 1,000,000 | 2,000,000 | | | | | | | James D. Thomas | | | | | | | | | | | | 2/26/2025 | | | | 17,788 | 71,152 | 142,304 | | 532,929 | | | 2/26/2025 | | | | | | | 71,152 | 525,102 | | | N/A | 7,656 | 367,500 | 735,000 | | | | | | | Chayce D. Clark | | | | | | | | | | | | 2/26/2025 | | | | 28,299 | 113,196 | 226,392 | | 847,838 | | | 2/26/2025 | | | | | | | 113,196 | 835,386 | | | N/A | 9,063 | 435,000 | 870,000 | | | | | | | Steven K. Hatchett | | | | | | | | | | | | 2/26/2025 | | | | 16,171 | 64,684 | 129,368 | | 484,483 | | | 2/26/2025 | | | | | | | 64,684 | 477,368 | | | N/A | 6,719 | 322,500 | 645,000 | | | | | | | Justin S. Keisel | | | | | | | | | | | | 2/26/2025 | | | | 12,937 | 51,747 | 103,494 | | 387,585 | | | 2/26/2025 | | | | | | | 51,747 | 381,893 | | | N/A | 7,266 | 348,750 | 697,500 | | | | | |

  69. Grants of Plan-Based Awards – 2025

    | (1) The amounts reported in these columns reflect potential payouts under our 2025 cash incentive program if the respective levels of performance were achieved for the year. The amounts reported in the Threshold column reflect the potential payout if the lowest-weighted company performance metric was at the minimum level required to receive a bonus. The amounts reported in the Target and Max columns reflect the potential payout if all company performance metrics were at goal and maximum performance levels, respectively. For information about the calculation of each NEO’s potential amounts, see “Executive Compensation: Compensation Discussion and Analysis”—“Cash Incentive Bonuses.” |

  70. Grants of Plan-Based Awards – 2025

    | (2) The awards reported in these columns are PRSUs granted under our 2024 Omnibus Incentive Plan. The amounts reported in the Threshold, Target and Max columns reflect the potential number of PRSUs that become eligible for vesting or exercisable if certain financial metrics are achieved at the minimum, goal and maximum levels, respectively. |

  71. Grants of Plan-Based Awards – 2025

    | (3) The amounts reported in this column reflect the aggregate grant date fair value of equity awards computed in accordance with FASB ASC Topic 718 and, for performance-based awards, are based on the probable outcome of the performance conditions as of the grant date. For this purpose, the estimate of forfeitures is disregarded, and the value of the stock awards is discounted to reflect that no dividends are paid prior to vesting. |

  72. Narrative to Summary Compensation Table and Grants of Plan-Based Awards Table

    Narrative to Summary Compensation Table and Grants of Plan-Based Awards Table 2025 Adjustments to Salary and Target Bonus Percentage In the first quarter of 2025, we reduced the base salaries of each of our NEOs in light of our financial performance and broader cost management initiatives. We also reduced the CEO’s target bonus percentage. Mr. Keisel’s base salary was subsequently increased due to considerations related to retention and market competitiveness. For more information about these changes, see “Executive Compensation: Compensation Discussion and Analysis”—“Base Salary” and —“Cash Incentive Bonuses.” Equity and Non-Equity Incentive Plan Awards For information on the terms of the equity awards and non-equity incentive plan awards that were granted to NEOs during 2025, see “Executive Compensation: Compensation Discussion and Analysis”—“Equity Awards,” —“Cash Incentive Bonuses,” and the footnotes to the Outstanding Equity Awards at Fiscal Year-End – 2025 table. The NEOs received bonuses for fiscal year 2025 in the amounts shown in the “Non-Equity Incentive Plan Compensation” column of the Summary Compensation Table.

  73. Outstanding Equity Awards at Fiscal Year-End – 2025

    Outstanding Equity Awards at Fiscal Year-End – 2025 The following table provides information on each NEO’s holdings of equity awards as of December 31, 2025.

  74. Outstanding Equity Awards at Fiscal Year-End – 2025

    | | | Option Awards | | | Stock Awards | | | | | | | | | | | | Equity Incentive Plan Awards: | | | Name and Award Type (1) | Grant Date | Number of Securities Underlying Unexercised Options Exercisable (#) | Option Exercise Price ($) | Option Expiration Date | Number of Shares or Units of Stock That Have Not Vested (#)(2) | Market Value of Shares or Units of Stock That Have Not Vested ($)(3) | Number of Unearned Shares, Units or Other Rights That Have Not Vested (#)(4)(5) | Market or Payout Value of Unearned Shares, Units or Other Rights That Have Not Vested ($)(3) | | Ryan S. Napierski | | | | | | | | | | PSO | 2/15/2020 | 178,831 | 30.45 | 2/15/2027 | | | | | | PSO | 2/15/2021 | 21,883 | 48.81 | 2/15/2028 | | | | | | RSU | 2/25/2022 | | | | 7,903 | 76,027 | | | | PRSU | 2/22/2023 | | | | | | 4,510 | 43,389 | | RSU | 2/22/2023 | | | | 26,532 | 255,238 | | | | PRSU | 2/27/2024 | | | | | | 126,382 | 1,215,795 | | RSU | 2/27/2024 | | | | 142,181 | 1,367,781 | | | | PRSU | 2/26/2025 | | | | | | 620,958 | 5,973,616 | | RSU | 2/26/2025 | | | | 310,479 | 2,986,808 | | | | James D. Thomas | | | | | | | | | | PSO | 2/15/2020 | 13,821 | 30.45 | 2/15/2027 | | | | | | PSO | 2/15/2021 | 2,710 | 48.81 | 2/15/2028 | | | | | | RSU | 2/25/2022 | | | | 2,139 | 20,577 | | | | PRSU | 2/22/2023 | | | | | | 290 | 2,785 | | RSU | 2/22/2023 | | | | 4,664 | 44,868 | | | | PRSU | 7/26/2023 | | | | | | 694 | 6,676 | | RSU | 7/26/2023 | | | | 4,164 | 40,058 | | | | PRSU | 2/27/2024 | | | | | | 28,962 | 278,614 | | RSU | 2/27/2024 | | | | 32,583 | 313,448 | | | | PRSU | 2/26/2025 | | | | | | 142,304 | 1,368,964 | | RSU | 2/26/2025 | | | | 71,152 | 684,482 | | | | Chayce D. Clark | | | | | | | | | | PSO | 2/15/2020 | 6,739 | 30.45 | 2/15/2027 | | | | | | PSO | 2/15/2021 | 1,431 | 48.81 | 2/15/2028 | | | | | | PSO | 8/1/2021 | 3,118 | 53.69 | 8/1/2028 | | | | | | RSU | 2/25/2022 | | | | 2,107 | 20,269 | | | | PRSU | 2/22/2023 | | | | | | 1,538 | 14,791 | | RSU | 2/22/2023 | | | | 9,044 | 87,003 | | | | PRSU | 2/27/2024 | | | | | | 46,077 | 443,261 | | RSU | 2/27/2024 | | | | 51,837 | 498,672 | | | | PRSU | 2/26/2025 | | | | | | 226,392 | 2,177,891 | | RSU | 2/26/2025 | | | | 113,196 | 1,088,946 | | | | Steven K. Hatchett | | | | | | | | | | PSO | 2/15/2020 | 5,602 | 30.45 | 2/15/2027 | | | | | | PSO | 2/15/2021 | 4,879 | 48.81 | 2/15/2028 | | | | | | RSU | 2/25/2022 | | | | 1,475 | 14,190 | | | | PRSU | 2/22/2023 | | | | | | 871 | 8,381 | | RSU | 2/22/2023 | | | | 5,125 | 49,303 | | | | PRSU | 2/27/2024 | | | | | | 26,329 | 253,285 | | RSU | 2/27/2024 | | | | 29,622 | 284,964 | | | | PRSU | 2/26/2025 | | | | | | 129,368 | 1,244,520 | | RSU | 2/26/2025 | | | | 64,684 | 622,260 | | | | Justin S. Keisel | | | | | | | | | | PSO | 2/15/2020 | 9,031 | 30.45 | 2/15/2027 | | | | | | PSO | 2/15/2021 | 719 | 48.81 | 2/25/2028 | | | | | | RSU | 2/25/2022 | | | | 1,853 | 17,826 | | | | PRSU | 2/22/2023 | | | | | | 257 | 2,468 | | RSU | 2/22/2023 | | | | 6,062 | 58,316 | | | | PRSU | 2/27/2024 | | | | | | 8,557 | 82,318 | | RSU | 2/27/2024 | | | | 14,441 | 138,922 | | | | PRSU | 2/26/2025 | | | | | | 103,494 | 995,612 | | RSU | 2/26/2025 | | | | 51,747 | 497,806 | | |

  75. Outstanding Equity Awards at Fiscal Year-End – 2025

    | (1) Award types are as follows: |

  76. Outstanding Equity Awards at Fiscal Year-End – 2025

    RSU: Time-Based Restricted Stock Units PRSU: Performance-Based Restricted Stock Units PSO: Performance-Based Stock Options

  77. Outstanding Equity Awards at Fiscal Year-End – 2025

    | (2) RSUs vest in four equal annual tranches, generally in February of each of the first four years following the grant, except the RSUs granted on 7/26/2023 vest on August 1 of each of the first four years following the grant. In addition, vesting of RSUs is accelerated upon the participant’s termination (including constructive termination) in connection with a change in control. |

  78. Outstanding Equity Awards at Fiscal Year-End – 2025

    | (3) The market value of the RSUs and PRSUs reported in these columns is based on the closing market price of our stock on December 31, 2025, which was $9.62. |

  79. Outstanding Equity Awards at Fiscal Year-End – 2025

    | (4) PRSUs vest in three equal tranches based on the achievement of adjusted EPS performance levels, measured in terms of diluted EPS excluding certain predetermined items. Vesting generally occurs in February of the year following the performance year applicable to the respective tranche, except the PRSUs granted on 7/26/2023 vest on August 1 of the year following the performance year applicable to the respective tranche. Vesting of the target amount of PRSUs is accelerated upon the participant’s termination (including constructive termination) in connection with a change in control. Any portions of the tranches that do not become eligible for vesting will immediately terminate following the Committee’s approval of the calculation of adjusted EPS for such tranche. |

  80. Outstanding Equity Awards at Fiscal Year-End – 2025

    | Grant Date | Vesting Schedule | | 2/22/2023 7/26/2023 | A portion of the first tranche vested based on adjusted EPS achieved in 2023. No portion of the second or third tranche vested based on adjusted EPS achieved in 2024 and 2025, and these tranches therefore terminated as of February 12, 2025 and February 10, 2026, respectively. | | 2/27/2024 | A portion of the first and second tranches vested based on adjusted EPS achieved in 2024 and 2025, respectively. The portion of the third tranche that vests will be determined by adjusted EPS reaching pre-determined levels in 2026. | | 2/26/2025 | The first tranche vested in full based on adjusted EPS achieved in 2025. The portions of the second and third tranches that vest will be determined by adjusted EPS reaching pre-determined levels in 2026 and 2027, respectively. |

  81. Outstanding Equity Awards at Fiscal Year-End – 2025

    | (5) In accordance with SEC rules, this column reports the potential number of PRSUs that become eligible for vesting upon achievement of minimum performance goals, except that, based on 2025 results, the PRSUs granted on 2/27/2024 are reported at the target level and the PRSUs granted on 2/26/2025 are reported at the maximum level. |

  82. Option Exercises and Stock Vested – 2025

    Option Exercises and Stock Vested – 2025 The following table provides information on the vesting of stock awards for each NEO during 2025. None of the NEOs exercised stock options during 2025.

  83. Option Exercises and Stock Vested – 2025

    | | Stock Awards | | | Name | Number of Shares Acquired on Vesting (#) | Value Realized on Vesting ($)(1) | | Ryan S. Napierski | 92,990 | 703,004 | | James D. Thomas | 25,263 | 192,321 | | Chayce D. Clark | 52,194 | 450,743 | | Steven K. Hatchett | 18,703 | 141,395 | | Justin S. Keisel | 11,278 | 85,262 |

  84. Option Exercises and Stock Vested – 2025

    | (1) Equals the number of restricted stock units vested multiplied by the market value of our common stock on the vesting date; calculated before payment of any applicable withholding taxes and broker commissions. |

  85. Nonqualified Deferred Compensation

    Nonqualified Deferred Compensation Pursuant to our nonqualified Deferred Compensation Plan (the “DCP”), certain employees, including the NEOs, may elect to defer up to 80% of their base salary and up to 100% of bonuses (minus applicable withholding requirements) that otherwise would be payable for a calendar year. Deferral elections are made prior to the calendar year in which the deferred salary or bonus will be earned. In addition, the company makes contributions to the accounts of each NEO who has an account. The DCP provides a matching contribution of up to 5% of base salary. We may, subject to approval by the Committee, make additional discretionary contributions under the DCP. In prior years, such discretionary contributions have been approximately 5% of base salary, although the amount, if any, is determined annually at the Committee’s discretion. Earnings and losses on deferred base salary and bonus are based on market rates, mirroring the performance of investment funds that are available for participants to track under the DCP. All amounts a participant elects to defer, adjusted for earnings and losses thereon, are 100% vested for purposes of the DCP at all times. All amounts we contribute, adjusted for earnings and losses thereon, either vest 20% per year over five years (for contributions in 2021 or later) or vest over a 20-year period that begins on the participant’s hire date (for contributions prior to 2021). This vesting schedule is subject to acceleration upon the occurrence of certain events, including the attainment of 60 years of age, death or disability as defined in the DCP, discretionary acceleration by the Committee, or, for contributions in 2021 or later, the completion of at least 10 years of employment above a specified job level. In addition, we may, at our discretion, accelerate vesting in the event of a change in control. For participants who received company contributions prior to 2015, which for the NEOs is only Mr. Napierski, the DCP also provides a death benefit that will pay, upon a participant’s death prior to the commencement of benefit payments, an amount equal to the participant’s deferrals, adjusted for earnings and losses thereon, plus the greater of (i) the vested portion of company contributions, adjusted for earnings and losses thereon, or (ii) five times such participant’s average base salary for the previous three years. All distributions to our NEOs under the DCP are payable in cash, and the participant may elect either a lump sum payment or annual installments over a maximum of 10 years. The following table shows the investment funds that were available for participants to track under the DCP throughout 2025 and their annual rates of return for the fiscal year ended December 31, 2025, as reported by the administrator of the DCP.

  86. Nonqualified Deferred Compensation

    | Name of Fund | Rate of Return | Name of Fund | Rate of Return | | American Funds Global Growth - Class 2 | 21.63% | Macquarie VIP Small Cap Value Std Class | 8.16% | | American Funds Global Small Capitalization - Class 2 | 14.64% | MFS VIT III Mid Cap Value Init | 5.98% | | American Funds IS Capital World Growth & Income - Class 2 | 24.80% | MFS VIT Utilities Series - Initial Class | 15.01% | | Dimensional VIT Inflat-Protect Secs I | 7.55% | MFS VIT Value - Initial Class | 13.01% | | DWS VIT Small Cap Index VIP - Class A | 12.64% | Nu Skin Enterprises Inc. Restricted Stock Units | 43.26% | | Empower Aggressive Profile Inv Class | 17.42% | PIMCO Intl Bond (USD-Hedged) Admin Class | 3.95% | | Empower Conservative Profile Inv Class | 8.19% | Putnam VT International Value - Class IA | 35.07% | | Empower Mod Aggressive Prfl Inv Class | 13.79% | Vanguard VIF Equity Index | 17.70% | | Empower Mod Conservative Prfl Inv Class | 10.03% | Vanguard VIF Growth | 16.89% | | Empower Moderate Profile Inv Class | 11.96% | Vanguard VIF Real Estate Index | 3.11% | | Empower T. Rowe Price Mid Cap Growth Inv | 2.99% | Vanguard VIF Short-Term Investment-Grade | 6.85% | | Fidelity VIP Emerging Markets Srv Class | 41.04% | Vanguard VIF Small Company Growth | 6.11% | | Fidelity VIP Gov Money Market - Service Class | 4.03% | Vanguard VIF Total Bond Market Index | 6.94% | | Fidelity VIP Int’l Capital Appreciation - Service Class 2 | 18.36% | Vanguard VIF Total Intl Stock Market Index | 32.04% | | LVIP SSgA Mid-Cap Index - Standard Class | 7.13% | Zero Return | 0.00% |

  87. Nonqualified Deferred Compensation – 2025

    Nonqualified Deferred Compensation – 2025 The following table provides information on each NEO’s account under our nonqualified Deferred Compensation Plan for the year 2025.

  88. Nonqualified Deferred Compensation – 2025

    | Name | Executive Contributions in Last FY ($)(1) | Registrant Contributions in Last FY ($)(1) | Aggregate Earnings in Last FY ($)(1) | Aggregate Withdrawals/ Distributions | Aggregate Balance at Last FYE ($)(1) | | Ryan S. Napierski | 144,908 | 101,058 | 1,096,882 | — | 9,343,981 | | James D. Thomas | 24,606 | 49,212 | 87,568 | (18,576) | 594,417 | | Chayce D. Clark | 30,428 | 58,529 | 111,651 | (125,696) | 825,299 | | Steven K. Hatchett | — | 21,606 | 7,856 | — | 224,355 | | Justin S. Keisel | — | 21,817 | 19,427 | — | 171,873 |

  89. Nonqualified Deferred Compensation – 2025

    | (1) Executive and registrant contribution amounts are and have been reflected in the 2025 Summary Compensation Table and prior years’ summary compensation tables, as applicable. Aggregate earnings are not reflected in the 2025 Summary Compensation Table and were not reflected in prior years’ summary compensation tables. |

  90. Potential Payments Upon Termination or Change in Control

    Potential Payments Upon Termination or Change in Control The information in the table below describes the compensation that would become payable under existing plans and arrangements if each NEO’s employment had terminated on December 31, 2025, given each NEO’s compensation and service level as of such date and, if applicable, based on our closing stock price on that date. Except as indicated in the footnotes below, all amounts would be payable as a lump sum upon termination, except deferred compensation, which in the case of death or disability may be payable as a lump sum or in installments at the pre-determined election of the NEO. These benefits are in addition to benefits available generally to salaried employees, such as disability benefits and distributions under our 401(k) plan. Due to the number of factors that affect the nature and amount of any benefits provided upon the events discussed below, any actual amounts paid may be different. Factors that could affect these amounts include the timing during the year of any such event, our stock price, our financial performance, the NEO’s age and tenure with our company, and any arrangements negotiated in connection with a termination. As previously disclosed, Mr. Thomas resigned as Executive Vice President and Chief Financial Officer on March 17, 2026. The Company has appointed an Interim Chief Financial Officer to serve until the Company completes a search and appoints a permanent Chief Financial Officer. Upon termination of employment, Mr. Thomas did not receive a severance payment, and his unvested equity awards were canceled in accordance with the original terms of the awards.

  91. Potential Payments Upon Termination or Change in Control

    | Name | Voluntary Termination ($) | Involuntary Termination for Cause ($) | Involuntary Termination (Including Constructive Termination) Not for Cause ($) | Termination (Including Constructive Termination) in Connection with Change in Control ($) | Death ($)(1) | Disability ($) | | Ryan S. Napierski | | | | | | | | Severance(2) | — | — | 1,719,250 | 4,219,250 | 219,250 | 465,825 | | Equity(3) | — | — | — | 9,062,011 | — | — | | Deferred Compensation(4) | 9,300,131 | 9,300,131 | 9,300,131 | 9,300,131 | 12,378,328 | 9,300,131 | | Health Benefits(5) | — | — | 25,757 | 25,757 | — | — | | Total | 9,300,131 | 9,300,131 | 11,045,138 | 22,607,149 | 12,597,578 | 9,765,957 | | James D. Thomas | | | | | | | | Severance(2) | — | — | 693,074 | 1,366,824 | 80,574 | 201,396 | | Equity(3) | — | — | — | 2,104,375 | — | — | | Deferred Compensation(4) | 443,170 | 443,170 | 443,170 | 443,170 | 594,417 | 594,417 | | Health Benefits(5) | — | — | 19,368 | 19,368 | — | — | | Total | 443,170 | 443,170 | 1,155,611 | 3,933,736 | 674,991 | 795,813 | | Chayce D. Clark | | | | | | | | Severance(2) | — | — | 820,374 | 1,617,874 | 95,374 | 238,388 | | Equity(3) | — | — | — | 3,286,259 | — | — | | Deferred Compensation(4) | 596,151 | 596,151 | 596,151 | 596,151 | 825,299 | 825,299 | | Health Benefits(5) | — | — | 25,533 | 25,533 | — | — | | Total | 596,151 | 596,151 | 1,442,058 | 5,525,817 | 920,673 | 1,063,686 | | Steven K. Hatchett | | | | | | | | Severance(2) | — | — | 608,208 | 1,199,458 | 70,708 | 176,735 | | Equity(3) | — | — | — | 1,879,786 | — | — | | Deferred Compensation(4) | 66,021 | 66,021 | 66,021 | 66,021 | 224,355 | 224,355 | | Health Benefits(5) | — | — | 20,953 | 20,953 | — | — | | Total | 66,021 | 66,021 | 695,182 | 3,166,218 | 295,063 | 401,091 | | Justin S. Keisel | | | | | | | | Severance(2) | — | — | 657,713 | 1,297,088 | 76,463 | 191,121 | | Equity(3) | — | — | — | 1,302,865 | — | — | | Deferred Compensation(4) | 123,368 | 123,368 | 123,368 | 123,368 | 171,873 | 171,873 | | Health Benefits(5) | — | — | 25,227 | 25,227 | — | — | | Total | 123,368 | 123,368 | 806,308 | 2,748,548 | 248,336 | 362,993 |

  92. Potential Payments Upon Termination or Change in Control

    | (1) The amounts reported in this column do not include the proceeds payable on death from term life insurance policies for which we pay the premiums. The term life insurance coverage amounts as of December 31, 2025 were $2.1 million for Mr. Napierski, $1 million for Mr. Thomas, $1.21 million for Mr. Clark, $900,000 for Mr. Hatchett and $750,000 for Mr. Keisel. |

  93. Potential Payments Upon Termination or Change in Control

    | (2) Our Executive Severance Policy provides for the following termination payments in addition to salary and benefits earned prior to termination, provided that the NEO enters into a Separation and Release Agreement with us and complies with certain non-competition and other obligations, which generally remain in force until one year following employment: |

  94. Potential Payments Upon Termination or Change in Control

    (a) Voluntary termination: (i) No severance payment. (b) Involuntary termination not for cause (including constructive termination): (i) The pro-rata portion of the NEO’s earned bonus, if any, for any outstanding bonus cycle, payable at the same time as bonuses are paid to other executive officers; and (ii) A lump sum equal to a multiplier (of 1.5 for the CEO; 1.25 for other NEOs) times annual salary. (c) Termination (including constructive termination) in connection with a change in control: (i) The pro-rata portion of the NEO’s earned bonus, if any, for any outstanding bonus cycle, payable at the same time as bonuses are paid to other executive officers; and (ii) A lump sum equal to a multiplier (of 2 for the CEO; 1.5 for other NEOs) times the sum of annual salary and target bonus. (d) Termination upon death or disability: (i) The pro-rata portion of the NEO’s earned bonus, if any, for any outstanding bonus cycle, payable on the date that bonuses are normally paid; and (ii) Salary continuation for up to 90 days in certain circumstances related to a disability.

  95. Potential Payments Upon Termination or Change in Control

    | (3) Our equity award agreements generally provide that unvested awards will terminate upon the termination of employment. However, vesting (of the target amount, in the case of performance-based awards) is accelerated upon the participant’s termination (including constructive termination) in connection with a change in control. Accordingly, the amounts in the equity category are based on the $9.62 closing price of our stock on December 31, 2025 multiplied by each NEO’s number of unvested RSUs and target number of unvested PRSUs. No amount is reflected for PSOs because all PSOs were out of the money as of the end of 2025. |

  96. Potential Payments Upon Termination or Change in Control

    | (4) The amounts reported for deferred compensation, other than for death and disability, reflect only the amounts deferred by the NEOs, the vested portion of amounts contributed by us and earnings on such amounts. We may, at our discretion, accelerate vesting of the unvested amounts contributed by us in the event of a change in control. If we were to do so, the total amounts of deferred compensation payable to our NEOs in the event of a change in control would be the same as the amounts reported in the “Disability” column. For information about vesting and benefits applicable to death and disability, as well as other terms of our Deferred Compensation Plan, see “Nonqualified Deferred Compensation,” above. |

  97. Potential Payments Upon Termination or Change in Control

    | (5) Our Executive Severance Policy entitles the NEOs to a lump sum equal to twelve months of health care continuation coverage upon involuntary termination not for cause (including constructive termination) and termination (including constructive termination) in connection with a change in control. These payments are conditioned on the NEO entering into a Separation and Release Agreement with us and complying with certain non-competition and other obligations, which generally remain in force until one year following employment. |

  98. CEO Pay Ratio Information

    CEO Pay Ratio Information As required by the Dodd-Frank Wall Street Reform and Consumer Protection Act and SEC rules, we are disclosing the annual total compensation of the CEO, the median of the annual total compensation of all other employees, and the ratio of these two numbers (the “CEO pay ratio”), each as calculated pursuant to applicable rules and guidance. We also provide supplemental information and calculations to provide context regarding our global operations and unique features of our workforce. CEO Compensation Mr. Napierski’s 2025 annual total compensation was $5,965,206, as reported in our Summary Compensation Table. Median Employee Compensation and CEO Pay Ratio Disclosure As of December 31, 2025, our global employee population consisted of 8,615 individuals. To identify the median employee, we used each employee’s annualized base pay plus target cash incentive as of December 31, 2025 (for Mainland China sales employees, described below, this was calculated by annualizing their salary and bonus amounts for the last portion of the year, as those amounts are indicative of their recent activity), translated into U.S. dollars. With these amounts for all of our employees, we identified a median group of 101 employees. We then calculated the annual total compensation of each of these 101 employees using the same methodology that is required under SEC disclosure requirements for our NEOs’ compensation, and we identified the median employee from that population. Our median employee is a sales employee in Mainland China whose 2025 annual compensation was $674, which yields a CEO pay ratio of 8,853:1. However, as discussed below, due to a unique characteristic in our employee population, we do not believe this ratio appropriately represents our company’s compensation practices. Excluding the impact of this characteristic, our CEO pay ratio is 137:1. Supplemental Information – Global Employee Population and Structure The structure of our business model in Mainland China causes a unique and significant increasing impact on our CEO pay ratio. In all of our markets other than Mainland China, our sales force members are independent distributors rather than employees of our company. Because of restrictions on direct selling and multi-level commissions in Mainland China, we have implemented a business model for that market that is different from our business model in other markets. One of the differences is that our sales force in Mainland China includes not only independent sellers but also part-time sales employees. Our Mainland China sales employees constitute a large proportion of our total employee base, and as a result, these employees have a significant impact on our CEO pay ratio. As of December 31, 2025, 5,808, or 67%, of our employees were Mainland China sales employees, compared to 2,807 other full- and part-time employees worldwide. Like all members of our sales force globally, our Mainland China sales employees devote as much or as little time and effort to their sales efforts as they desire, and their compensation varies significantly as a result. Due to the impact of our Mainland China sales employees on our CEO pay ratio, we do not believe the required pay ratio disclosure, above, appropriately represents our company’s compensation practices. To better allow stakeholders to evaluate our CEO’s compensation within the context of our company, we also disclose a ratio that excludes our Mainland China sales employees. Based on our 2,807 employees who are not Mainland China sales employees, our median employee is a human resources assistant in the United States whose 2025 annual compensation was $43,640, resulting in a CEO pay ratio of 137:1. We believe the compensation amounts and ratios provided above represent reasonable estimates calculated in accordance with SEC regulations and guidance. The SEC rules allow companies to adopt a variety of methodologies, to apply certain exclusions, and to make reasonable estimates and assumptions that reflect their employee populations and compensation practices. As a result, the pay ratio reported by other companies may not be comparable to the pay ratio for our company, as other companies have different employee populations and compensation practices and may utilize different methodologies, exclusions, estimates and assumptions in calculating their pay ratios.

  99. Pay Versus Performance

    Pay Versus Performance As required by the Dodd-Frank Wall Street Reform and Consumer Protection Act and Item 402(v) of Regulation S-K, we are providing information about the compensation of our Principal Executive Officers (“PEOs”) and other NEOs, as disclosed in the Summary Compensation Table (“SCT”) and also their “compensation actually paid.” The dollar amounts reported as “compensation actually paid” were computed in accordance with applicable SEC rules and do not necessarily reflect the actual amount of compensation earned by or paid to the NEOs during the applicable year.

  100. Pay Versus Performance

    | | | | | Comp. Actually Paid to Second PEO ($)(2) | Average SCT Total for Non- PEO Named Executive Officers ($) | Average Comp. Actually Paid to Non-PEO Named Executive Officers ($)(2) | Value of Initial Fixed $100 Investment Based On: | | | | | Year (1) | SCT Total for First PEO ($) | Comp. Actually Paid to First PEO ($)(2) | SCT Total for Second PEO ($) | | | | Total Shareholder Return ($)(3) | Peer Group Total Shareholder Return ($)(3) | Net Income (Loss) ($000s) | Adjusted EPS ($)(4) | | 2025 | N/A | N/A | 5,965,206 | 9,151,861 | 1,754,606 | 2,538,087 | 20.95 | 116.43 | 160,204 | 1.27 | | 2024 | N/A | N/A | 5,993,088 | 1,721,069 | 2,137,313 | 1,064,386 | 14.63 | 140.20 | (146,594) | 0.84 | | 2023 | N/A | N/A | 5,838,579 | 2,731,348 | 1,750,510 | 577,117 | 40.27 | 138.51 | 8,595 | 2.06 | | 2022 | N/A | N/A | 4,764,466 | (116,058) | 2,388,206 | 1,177,614 | 82.33 | 120.46 | 104,778 | 2.90 | | 2021 | 2,657,102 | 1,103,513 | 4,731,970 | 3,676,080 | 1,501,890 | 953,242 | 95.67 | 128.79 | 147,266 | 4.14 |

  101. Pay Versus Performance

    | (1) NEOs included in the above table for each year are the following: |

  102. Pay Versus Performance

    | Year | First PEO | Second PEO | Non-PEOs | | 2025 | N/A | Ryan S. Napierski | James D. Thomas, Chayce D. Clark, Steven K. Hatchett, Justin S. Keisel | | 2024 | N/A | Ryan S. Napierski | James D. Thomas, Chayce D. Clark, Steven K. Hatchett, Justin S. Keisel | | 2023 | N/A | Ryan S. Napierski | James D. Thomas, Chayce D. Clark, Steven K. Hatchett, Connie Tang, Mark H. Lawrence, Joseph Y. Chang | | 2022 | N/A | Ryan S. Napierski | Mark H. Lawrence, Connie Tang, Joseph Y. Chang, Chayce D. Clark | | 2021 | Ritch N. Wood | Ryan S. Napierski | Mark H. Lawrence, Connie Tang, Joseph Y. Chang, Chayce D. Clark, D. Matthew Dorny, Jeffrey C. Bettinger |

  103. Pay Versus Performance

    | (2) Adjustments made to calculate 2025 “compensation actually paid” pursuant to SEC rules are as follows: |

  104. Pay Versus Performance

    | | PEO ($) | Average of Other NEOs ($) | | Total Compensation in SCT | 5,965,206 | 1,754,606 | | Less: Grant date value of stock awards and option awards reported in SCT | (4,616,823) | (1,118,146) | | Plus: Year-end value of awards granted during the year that are outstanding and unvested as of year-end | 7,109,675 | 1,721,893 | | Plus (less): Change in value, from prior year-end to year-end, of awards granted in a prior year that are outstanding and unvested as of year-end | 618,438 | 143,264 | | Plus (less): Change in value, from prior year-end to vesting date, of awards granted in a prior year that vested during the year | 75,365 | 36,470 | | Total Adjustments | 3,186,655 | 783,481 | | Compensation Actually Paid | 9,151,861 | 2,538,087 |

  105. Pay Versus Performance

    Fair value amounts were calculated in a manner consistent with the fair value methodology used to account for share-based payments in our financial statements under U.S. GAAP. The fair value amounts were calculated using our stock price on the last day of each fiscal year or the date of vesting, as applicable, and assuming the probable level of achievement for performance-based awards as of the end of the covered fiscal year. For information on the assumptions used in calculating these amounts, refer to Notes 2 and 10 to the financial statements in our Annual Report on Form 10-K filed for the fiscal year ended December 31, 2025.

  106. Pay Versus Performance

    | (3) Calculated in the manner prescribed by SEC rules. Indicates the value, as of December 31 of each year, of an assumed $100 initial investment that is invested on December 31, 2020 in our company’s common stock and the S&P SmallCap 600 Consumer Staples Index, the same index that was used in the Stock Performance Graph in our Annual Report on Form 10-K filed for the fiscal year ended December 31, 2025. |

  107. Pay Versus Performance

    | (4) We believe Adjusted EPS is the most important financial performance measure that is used to link the “compensation actually paid” to our NEOs in 2025 to our performance. On average, equity awards constitute the largest component of our NEOs’ 2025 target compensation, and Adjusted EPS is the metric used for our performance-based equity awards. Adjusted EPS is measured as diluted EPS excluding extraneous items such as the impact of accounting changes; losses or gains on settlements of litigation that began prior to the beginning of the respective year; and other items that are non-recurring, unusual, infrequent or outside of management’s control. For further information about the calculation of Adjusted EPS, see “Executive Compensation: Compensation Discussion and Analysis”—“Performance-Based Awards Granted in 2023–2025—Goals and Vesting.” |

  108. Pay Versus Performance

    Most Important Financial Performance Measures. We believe the most important financial performance measures that are used to link the “compensation actually paid” to our NEOs to our 2025 performance are the following, with Adjusted EPS being the most important of these measures:

  109. Pay Versus Performance

    | Adjusted EPS | | Adjusted revenue | | Adjusted operating income | | Adjusted Nu Skin gross margin | | Adjusted Nu Skin selling expense percentage | | Adjusted Rhyz revenue |

  110. Pay Versus Performance

    Relationship Between “Compensation Actually Paid” and Other Metrics. The following chart depicts the relationship between the “compensation actually paid” to our NEOs and our total shareholder return, and it compares our total shareholder return to that of our peer group, which, for purposes of this Pay Versus Performance disclosure, consists of the S&P SmallCap 600 Consumer Staples Index. The following chart depicts the relationship between the “compensation actually paid” to our NEOs and our net income. The following chart depicts the relationship between the “compensation actually paid” to our NEOs and our Adjusted EPS.

  111. Key Compensation Governance Features

    | − | Limit on Non-Employee Director Compensation. The Amended Plan places a $750,000 limit on the aggregate amount of compensation payable to non-employee director during any calendar year, whether in cash or equity. |