Health In Tech Names Sanjay Shrestha CEO; Founder Moves to Executive Chairman
HIT is trading near its 52-week low of $0.5 (7.2% above the low).
Summary
Health In Tech replaced founder Tim Johnson with Sanjay Shrestha as CEO, effective October 20, 2026, and granted him up to 8,500,000 restricted shares tied to service, acquisitions and market-cap milestones. Johnson remains Executive Chairman.
Key Events · Executive and Board Changes · HIT
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CEO Succession Effective October 20
The board appointed Sanjay Shrestha, a former independent director and Strategic Advisor, as CEO. Founder Tim Johnson stepped down as CEO and became Executive Chairman; the filing states the change was not due to any disagreement.
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Equity Package Up to 8,500,000 Shares
Grants comprise a 2,000,000-share Sign-On Award vesting monthly over 12 months, a 1,500,000-2,000,000-share Acquisition Award vesting on a qualifying acquisition closing by December 31, 2028, and 4,500,000 shares across five market-cap tranches starting above $150 million.
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2,500,000 Shares Need Stockholder Approval
The MC-2, MC-3 and MC-4 tranches (2,500,000 shares) exceed shares available under the Equity Incentive Plan and are contingent on stockholders approving a Plan increase at the November 10, 2026 annual meeting; otherwise they are forfeited.
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Compensation Tied to $10M Raise
Base salary is $500,000, increasing to the greater of $700,000 or the then-applicable market rate once the Company raises at least $10,000,000. Annual bonus ranges from 0% to 200% of base salary.
Analysis · HIT · Finance
A founder handing the CEO role to an outside operator is a real change in who runs the business, and the package attached to it is large relative to the company. Shrestha gets 2,000,000 restricted shares up front plus up to 2,000,000 more if an acquisition closes by December 31, 2028, and 4,500,000 shares tied to market-cap thresholds starting at $150 million — against a company currently valued well below that first hurdle. The structure tells you what the board is paying for: deals and a higher share price. It also adds potential dilution on top of the Yorkville standby equity line and the pending proxy to triple authorized shares, both of which shareholders vote on November 10, 2026. Shrestha's background is capital markets and corporate development, not health insurance operations, which fits the stated acquisition mandate but leaves execution risk on the core business, where Q2 2026 produced a $2.5 million net loss on $8.1 million of revenue.
How filings like this one have moved
In the 30 days to Oct 27, 2026, 29.9% of the 1374 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.12%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, HIT was trading at $0.54 on NASDAQ in the Finance sector, with a market capitalization of approximately $35M. The 52-week trading range was $0.50 to $3.12. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.