[DEF 14A] Grindr Inc. Definitive Proxy Statement
Grindr Inc. is asking stockholders to vote at a virtual annual meeting on June 2, 2026 at 8:00 a.m. Eastern Time. Holders of 177,218,700 common shares as of April 9, 2026 may attend and vote online at the specified webcast link.
Stockholders will elect eight directors, including three new nominees, and vote on ratifying Ernst & Young LLP as independent auditor for 2026. They will also consider an amendment and restatement of the 2022 Equity Incentive Plan, which adds shares for future grants and is tied to a 2.25 million-share refresh RSU award for CEO George Arison. Advisory votes on executive compensation and on how frequently future say‑on‑pay votes should occur are also on the agenda.
Positive
- None.
Negative
- None.
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☐ | Preliminary Proxy Statement |
☐ | Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) |
☒ | Definitive Proxy Statement |
☐ | Definitive Additional Materials |
☐ | Soliciting Material Pursuant to §240.14a-2 |
☒ | No fee required. |
☐ | Fee paid previously with preliminary materials. |
☐ | Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11. |
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1. | To elect the Board of Directors’ 8 nominees for director to serve until the next annual meeting of stockholders and until their successors are duly elected and qualified or until their earlier resignation or removal; |
2. | To ratify the appointment of Ernst & Young LLP as our independent registered public accounting firm for our fiscal year ending December 31, 2026; |
3. | To approve an amendment and restatement of our Amended and Restated 2022 Equity Incentive Plan (the “2022 Plan”) to, among other things, increase the aggregate number of shares of common stock authorized for issuance under the plan by 11,600,000 shares; |
4. | To approve, on an advisory basis, the compensation of our named executive officers as disclosed in the accompanying proxy statement; |
5. | To indicate, on an advisory basis, the preferred frequency of stockholder advisory votes on the compensation of our named executive officers; and |
6. | To transact such other business as may properly come before the Annual Meeting or any adjournments or postponements thereof. |
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By order of the Board of Directors, | |||
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Zachary Katz Chief Legal Officer, General Counsel & Head of Global Affairs West Hollywood, California April 30, 2026 | |||
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QUESTIONS AND ANSWERS ABOUT THESE PROXY MATERIALS AND VOTING | 1 | ||
DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE | 8 | ||
Nominees for Director | 8 | ||
Board Leadership Structure | 10 | ||
Role of the Board of Directors in Risk Oversight | 11 | ||
Family Relationships | 11 | ||
Director Independence | 11 | ||
Meetings of the Board of Directors and Committees of the Board of Directors | 12 | ||
Committees of the Board of Directors | 12 | ||
Considerations in Evaluating Director Nominees | 15 | ||
Stockholder Recommendations for Nominations to the Board of Directors | 16 | ||
Communications with the Board of Directors | 16 | ||
Corporate Governance Guidelines and Code of Business Conduct and Ethics | 16 | ||
Director Compensation | 17 | ||
PROPOSAL NO. 1 ELECTION OF DIRECTORS | 21 | ||
Nominees | 21 | ||
PROPOSAL NO. 2 RATIFICATION OF APPOINTMENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM | 22 | ||
Principal Accounting Fees and Services | 22 | ||
Auditor Independence | 22 | ||
Audit Committee Pre-Approval Policies and Procedures | 22 | ||
REPORT OF THE AUDIT COMMITTEE OF THE BOARD OF DIRECTORS | 23 | ||
PROPOSAL NO. 3 APPROVAL OF AMENDMENT AND RESTATEMENT OF THE GRINDR INC. 2022 EQUITY INCENTIVE PLAN | 24 | ||
PROPOSAL NO. 4 ADVISORY VOTE ON EXECUTIVE COMPENSATION | 34 | ||
PROPOSAL NO. 5 ADVISORY VOTE ON THE FREQUENCY OF FUTURE ADVISORY VOTES ON THE COMPENSATION OF OUR NAMED EXECUTIVE OFFICERS | 35 | ||
EXECUTIVE COMPENSATION | 37 | ||
Compensation Discussion and Analysis | 37 | ||
Compensation Philosophy, Objectives and Practices | 37 | ||
Advisory Vote on Named Executive Officer Compensation | 38 | ||
Factors Used in Determining Executive Compensation | 39 | ||
Key Components and Design of the Executive Compensation Program | 40 | ||
2025 Executive Compensation Program | 42 | ||
CFO Transition | 49 | ||
Other Elements of Compensation | 49 | ||
Other Compensation Policies and Practices | 51 | ||
REPORT OF THE COMPENSATION COMMITTEE OF THE BOARD OF DIRECTORS | |||
Summary Compensation Table | 52 | ||
Grants of Plan-Based Awards in 2025 | 53 | ||
Outstanding Equity Awards as of December 31, 2025 | 55 | ||
Option Exercises and Stock Vested in 2025 | 57 | ||
Narrative to Summary Compensation Table and Grants of Plan-Based Awards Table | 57 | ||
Potential Payments upon Termination or Change of Control | 58 | ||
Pay Versus Performance | 62 | ||
Required Tabular Disclosure of Pay Versus Performance | 63 | ||
Required Tabular Disclosure of Most Important Financial Performance Measures | 65 | ||
Equity Compensation Plan Information | 66 | ||
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SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS | 67 | ||
CERTAIN RELATIONSHIPS AND RELATED PERSON TRANSACTIONS | 69 | ||
Warrant Redemption and Warrant Exercises | 69 | ||
Repurchase Program | 69 | ||
Cooperation Agreement | 70 | ||
Start-Up Incubation | 70 | ||
Amended and Restated Registration Rights Agreement | 70 | ||
Related-Person Transactions Policy | 70 | ||
Indemnification Agreements | 71 | ||
HOUSEHOLDING OF ANNUAL MEETING MATERIALS | 71 | ||
DELINQUENT SECTION 16(A) REPORTS | 72 | ||
OTHER MATTERS | 73 | ||
Fiscal Year 2025 Annual Report and SEC Filings | 73 | ||
Appendix A: Second Amended and Restated Grindr Inc. 2022 Equity Incentive Plan | A-1 | ||
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• | our ability to retain existing users and add new users; |
• | market perception of our brand; |
• | the impact of the legal environment and complexities with litigation and regulatory compliance related to such environment, including maintaining compliance with privacy, data protection, consumer protection, and online safety laws and regulations, as well as laws that may apply to any new products or services we have introduced and may introduce in the future, including in the health and wellness sector; |
• | our ability to address privacy concerns and protect systems and infrastructure from cyber-attacks and prevent unauthorized data access; |
• | our ability to identify and consummate strategic transactions including strategic partnerships, acquisitions, or investments in complementary products, services, or technologies, including outside of our core product; and our ability to realize the intended benefit of such transactions; |
• | our success in retaining or recruiting directors, officers, key employees, or other key personnel, and our success in managing any changes in such roles; |
• | our ability to respond to general economic conditions; |
• | competition in the dating and social networking products and services industry; |
• | our ability to adapt to changes in technology and user preferences in a timely and cost-effective manner; |
• | our ability to successfully develop and adopt artificial intelligence (“AI”) and machine learning (“ML”) technologies and processes — including generative AI — in our daily operations, including by deploying generative AI and ML in our products and services; |
• | our dependence on the integrity of third-party systems and infrastructure; |
• | our ability to protect our intellectual property rights from unauthorized use by third parties; |
• | whether the concentration of our stock ownership and voting power limits our stockholders’ ability to influence corporate matters; |
• | the impact of resales of significant volumes of our securities by any of our directors or significant stockholders, including pursuant to one or more margin calls on such stockholders’ loans, on the volatility of our stock price; |
• | the timing, price and quantity of repurchases of shares of our common stock under our repurchase program, and our ability to fund any such repurchases; |
• | the effects of macroeconomic and geopolitical events on our business, such as health epidemics, pandemics, natural disasters, the impacts of changing tariff policies and trade tensions, and wars or other regional conflicts; and |
• | the impact of anti-LGBTQ policies and actions by governments and non-state actors around the world, including to block or otherwise restrict access to our app in their countries. |
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• | Proposal No. 1: To elect the Board of Directors’ 8 nominees for director to serve until the next annual meeting and until their successors are duly elected and qualified or until their earlier resignation or removal; |
• | Proposal No. 2: To ratify the appointment of Ernst & Young LLP (“EY”) as our independent registered public accounting firm for our fiscal year ending December 31, 2026; |
• | Proposal No. 3: To approve an amendment and restatement to our 2022 Plan to, among other things, increase the aggregate number of shares of common stock authorized for issuance under the plan by 11,600,000 shares. (the “Equity Plan Amendment”); |
• | Proposal No. 4: To approve, on an advisory basis, the compensation of our named executive officers, as set forth in this proxy statement; |
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• | Proposal No. 5: To indicate, on an advisory basis, the frequency of stockholder advisory votes on the compensation of our named executive officers; and |
• | To transact such other business as may properly come before the Annual Meeting or any adjournments or postponements thereof. |
• | “FOR” the election of the Board of Directors’ 8 nominees for director; |
• | “FOR” the ratification of the appointment of EY as our independent registered public accounting firm for our fiscal year ending December 31, 2026; |
• | “FOR” the approval of the Equity Plan Amendment; |
• | “FOR” the approval, on an advisory basis, the compensation of our named executive officers, as set forth in this proxy statement; and |
• | “ONE YEAR” as the recommended frequency for stockholder advisory votes on the compensation of our named executive officers. |
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• | Proposal No. 1: The election of directors requires a plurality vote of the voting power of the shares of our common stock present in person or represented by proxy at the Annual Meeting and entitled to vote on the proposal. “Plurality” means that the 8 nominees who receive the largest number of votes cast “FOR” are elected as directors. Any shares not voted “FOR” a particular nominee (as a result of a withhold vote or a broker non-vote) will not be counted in such nominee’s favor and will have no effect on the outcome of the election. You may vote “FOR” or “WITHHOLD” on each of the nominees. |
• | Proposal No. 2: The ratification of the appointment of EY requires the affirmative vote of a majority of the voting power of the shares of our common stock present in person or represented by proxy at the Annual Meeting and entitled to vote on the proposal. Abstentions are considered votes present and entitled to vote on this proposal and thus will have the same effect as a vote “AGAINST.” Proposal 2 is a “routine” matter and accordingly, if you hold your shares in street name and do not provide voting instructions to your broker, bank, or other agent that holds your shares, your broker, bank, or other agent has discretionary authority to vote your shares on Proposal 2. Therefore broker non-votes are not expected to exist in connection with this proposal. |
• | Proposal No. 3: The approval of the Equity Plan Amendment requires the affirmative vote of a majority of the voting power of the shares of our common stock present in person or represented by proxy at the Annual Meeting and entitled to vote on the proposal. Abstentions are considered votes present and entitled to vote on this proposal and thus will have the same effect as a vote “AGAINST.” Broker non-votes, if any, will have no effect on and will not be counted towards the outcome of this vote total for Proposal 3. |
• | Proposal No. 4: The approval, on an advisory basis, of the compensation of our named executive officers requires the affirmative vote of a majority of the voting power of the shares of our common stock present in |
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• | Proposal No. 5: The advisory vote on the frequency of stockholder advisory votes on the compensation of our named executive officers provides stockholders with the opportunity to choose among four options: every one year, every two years, every three years, or abstain. The option among those choices that receives the votes from the holders of a majority of the voting power of the shares present in person, by remote communication, or represented by proxy at the meeting and entitled to vote on the subject matter will be deemed to be the frequency preferred by our stockholders. |
(1) | with respect to Proposal 1, votes “For,” “Withhold,” and broker non-votes; |
(2) | with respect to Proposal 2, votes “For,” “Against,” and abstentions; |
(3) | with respect to Proposal 3, votes “For,” “Against,” abstentions, and broker non-votes; |
(4) | with respect to Proposal 4, votes “For,” “Against,” abstentions, and broker non-votes; and |
(5) | with respect to Proposal 5, votes for “One Year,” “Two Years,” “Three Years,” abstentions, and broker non-votes. |
• | By Internet: You may submit a proxy over the Internet by following the instructions at www.proxyvote.com, 24 hours a day, seven days a week, until 11:59 p.m. Eastern Time the day before the Annual Meeting (have your proxy card or voting instruction form in hand when you visit the website); |
• | By Toll-free Telephone: You may submit a proxy by calling +1 (800) 690-6903 and using any touch-tone telephone to transmit your voting instructions, 24 hours a day, seven days a week, until 11:59 p.m. Eastern Time the day before the Annual Meeting (have your proxy card or voting instruction form in hand when you call and follow the instructions); or |
• | By Mail: You may mark, sign, date and mail your proxy card (if you received printed proxy materials) in the postage-paid envelope we have provided or return it to Vote Processing, c/o Broadridge, 51 Mercedes Way, Edgewood, New York 11717 no later than the day before the Annual Meeting. |
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• | You may enter a new vote by Internet or by telephone until 11:59 p.m. Eastern Time the day before the Annual Meeting; |
• | You may submit another properly completed, proxy card by mail with a later date, which must be received by us no later than the day before the Annual Meeting; |
• | You may send written notice that you are revoking your proxy to our Secretary at Grindr Inc., PO Box 69176, 750 N. San Vicente Blvd., Suite RE 1400, West Hollywood, California 90069, which must be received by us no later than the day before the Annual Meeting; or |
• | You may attend the Annual Meeting and vote online. Simply attending the Annual Meeting will not, by itself, revoke your proxy. |
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Name | Age | Position | ||||
George Arison | 48 | Chief Executive Officer, Director | ||||
Daniel Brooks Baer | 49 | Director | ||||
Chad Cohen | 51 | Director | ||||
J. Michael Gearon, Jr. | 61 | Lead Independent Director | ||||
Lisa Gersh | 67 | Director Nominee | ||||
Fadi Hanna | 45 | Director Nominee | ||||
Rob Solomon | 59 | Director Nominee | ||||
G. Raymond Zage, III | 56 | Director | ||||
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• | Leading our Board of Directors meetings in the absence of a Chair; |
• | Presiding over meetings of the independent directors; |
• | Coordinating with the committee chairs regarding meeting agendas and informational requirements, and advises committee chairs on fulfilling their designated responsibilities; |
• | Presiding over portions of meetings of our Board of Directors at which the evaluation or compensation of the Chief Executive Officer is presented or discussed or at which the performance of the Board of Directors is performed or discussed; |
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• | Focusing on Board effectiveness, performance, and composition, in coordination with the Nominating and Corporate Governance Committee; |
• | Coordinating the activities of the other independent directors, and performing such other duties our Board of Directors may establish or delegate from time to time; and |
• | Acting as principal liaison between the members of our independent Board members and the Chief Executive Officer. |
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Name | Audit | Compensation | Nominating and Corporate Governance | Privacy and Trust | ||||||||
George Arison | ||||||||||||
Daniel Brooks Baer | X* | X* | ||||||||||
Chad Cohen | X* | X | ||||||||||
J. Michael Gearon, Jr. | X* | X | ||||||||||
Nathan Richardson | X | X | X | |||||||||
Meghan Stabler | X | X | X | |||||||||
G. Raymond Zage, III | ||||||||||||
* | Committee Chair |
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• | appointing, compensating, retaining, evaluating, terminating and overseeing our independent registered public accounting firm; |
• | discussing with our independent registered public accounting firm their independence from management; |
• | reviewing with our independent registered public accounting firm the scope and results of their audit; |
• | pre-approving all audit and permissible non-audit services to be performed by our independent registered public accounting firm; |
• | overseeing the financial reporting process and discussing with management and our independent registered public accounting firm the interim and annual financial statements that we file with the SEC; |
• | reviewing and overseeing compliance with certain of our policies applicable to directors and employees, including, among other things, the Related-Person Transactions Policy; |
• | reviewing and monitoring our accounting principles, accounting policies, financial and accounting controls and compliance with legal and regulatory requirements; and |
• | establishing procedures for the confidential anonymous submission of concerns regarding questionable accounting or auditing matters. |
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• | reviewing, overseeing, modifying and approving our overall compensation strategy and policies; |
• | reviewing and approving the compensation of the Chief Executive Officer and other executive officers; |
• | reviewing and recommending to the Board of Directors the compensation program for the Board of Directors’ non-executive directors; |
• | reviewing and approving certain of our policies applicable to directors; |
• | reviewing and approving or making recommendations to the Board of Directors regarding our incentive compensation and equity-based plans and arrangements; and |
• | reviewing and establishing appropriate insurance coverage for our directors and officers. |
• | reviewing and discussing with management our programs and practices related to data privacy, the adequacy of our data privacy policies, and our compliance with applicable privacy and data use laws and regulations; |
• | overseeing our policies and practices related to ecosystem health and reviewing and discussing with management issues impacting safety and wellbeing, including the adequacy of our user trust and safety tools and our attention to protections of users in jurisdictions with limited LGBTQ legal rights; |
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• | discussing with management our compliance with applicable data use laws and any correspondence with regulators or governmental agencies that raise material issues and reviewing litigation, regulatory, and other legal matters that could have a material impact on us; |
• | reviewing and discussing with management political and public policy developments relevant to our business and operations, including developments related to LGBTQ legal rights and user safety; |
• | overseeing legal, regulatory and public policy matters material to us, particularly with respect to matters that could have a significant reputational impact on us; and |
• | overseeing the Company’s public policy activities and reviewing any political contributions and corporate political expenditures. |
• | identifying individuals qualified to become new board members, consistent with criteria approved by the Board of Directors; |
• | identifying members of the board qualified to fill vacancies on any board committee and recommending that the Board of Directors appoint the identified member or members to the applicable committee; |
• | reviewing and recommending to the Board of Directors corporate governance principles applicable to us; |
• | overseeing the evaluation and performance of the Board of Directors and management; |
• | reviewing and overseeing compliance with certain of our policies applicable to directors, including, among other things, the Code of Business Conduct and Ethics; and |
• | handling such other matters that are specifically delegated to the committee by the Board of Directors from time to time. |
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Position | Annual Cash Retainers ($)(1) | ||
Non-Employee Member of the Board | 40,000(2) | ||
Audit Committee Chair | 14,000(3) | ||
Other Audit Committee Member | 6,000(4) | ||
Compensation Committee Chair | 2,000(5) | ||
Other Compensation Committee Member | 1,000(6) | ||
Nominating and Corporate Governance Committee Chair | 2,000(5) | ||
Other Nominating and Corporate Governance Committee Member | 1,000(6) | ||
Privacy and Trust Committee Chair | 2,000(5) | ||
Other Privacy and Trust Committee Member | 1,000(6) | ||
(1) | Annual cash retainers are paid quarterly in arrears on a fiscal year basis. |
(2) | $20,000 under the Original Policy. |
(3) | $9,000 under the Original Policy. |
(4) | $4,000 under the Original Policy. |
(5) | $5,000 under the Original Policy. |
(6) | No additional annual cash compensation under the Original Policy. |
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Position | Annual Cash Retainers ($)(1) | ||
Non-Employee Member of the Board | 47,000 | ||
Audit Committee Chair | 14,000 | ||
Other Audit Committee Member | 6,000 | ||
Compensation Committee Chair | 6,000 | ||
Other Compensation Committee Member | 3,000 | ||
Nominating and Corporate Governance Committee Chair | 6,000 | ||
Other Nominating and Corporate Governance Committee Member | 3,000 | ||
Privacy and Trust Committee Chair | 6,000 | ||
Other Privacy and Trust Committee Member | 3,000 | ||
(1) | Annual cash retainers are paid quarterly in arrears on a fiscal year basis. |
Position | Annual RSU Awards ($)(1) | ||
Non-Employee Member of the Board | 140,000(2) | ||
Audit Committee Chair | 56,000(3) | ||
Other Audit Committee Member | 24,000(4) | ||
Compensation Committee Chair | 8,000(5) | ||
Other Compensation Committee Member | 4,000(6) | ||
Nominating and Corporate Governance Committee Chair | 8,000(5) | ||
Other Nominating and Corporate Governance Committee Member | 4,000(6) | ||
Privacy and Trust Committee Chair | 8,000(5) | ||
Other Privacy and Trust Committee Member | 4,000(6) | ||
(1) | The number of RSUs subject to each annual award a non-employee director is eligible to receive is equal to the applicable amount in the table above divided by the average closing price of our common stock over the 20-trading day period ending three trading days before the date of grant. |
(2) | $80,000 under the Original Policy. |
(3) | $36,000 under the Original Policy. |
(4) | $16,000 under the Original Policy. |
(5) | $20,000 under the Original Policy. |
(6) | No additional annual awards of RSUs under the Original Policy. |
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Position | Annual RSU Awards ($)(1) | ||
Non-Employee Member of the Board | 188,000 | ||
Audit Committee Chair | 56,000 | ||
Other Audit Committee Member | 24,000 | ||
Compensation Committee Chair | 24,000 | ||
Other Compensation Committee Member | 12,000 | ||
Nominating and Corporate Governance Committee Chair | 24,000 | ||
Other Nominating and Corporate Governance Committee Member | 12,000 | ||
Privacy and Trust Committee Chair | 24,000 | ||
Other Privacy and Trust Committee Member | 12,000 | ||
(1) | The number of RSUs subject to each annual award a non-employee director is eligible to receive is equal to the applicable amount in the table above divided by the average closing price of our common stock over the 20-trading day period ending three trading days before the date of grant. |
Name | Fees Earned or Paid in Cash ($)(1) | Stock Awards ($)(2)(3) | Total ($) | ||||||
James Fu Bin Lu(4) | $24,616 | $140,072 | $164,688 | ||||||
Daniel Brooks Baer | $179,464 | $142,089 | $321,553 | ||||||
Chad Cohen(4) | $205,193 | $202,622 | $407,815 | ||||||
J. Michael Gearon, Jr. | $175,288 | $140,072 | $315,360 | ||||||
Gary I. Horowitz(4) | $11,901 | — | $11,901 | ||||||
Nathan Richardson | $40,036 | $157,740 | $197,776 | ||||||
Meghan Stabler | $37,521 | $158,053 | $195,574 | ||||||
G. Raymond Zage, III | $31,616 | $129,212 | $160,828 | ||||||
(1) | Includes annual retainer fees, as described above. In connection with the non-binding proposal submitted by Mr. Zage and Mr. Lu (the “Proposing Shareholders”) to our Board of Directors to acquire all outstanding shares of our common stock (a “Going Private Transaction”), |
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(2) | Reflects the aggregate grant date fair value of any RSUs granted, determined in accordance with Financial Accounting Standards Board Accounting Standards Codification (“FASB ASC”) Topic 718, Compensation-Stock Compensation. Assumptions used in the calculation of this amount are included in Note 13. Stock-based Compensation to the Consolidated Financial Statements included in the 2025 Form 10-K. This amount does not reflect the actual economic value that will ultimately be realized by each director. |
(3) | The number of shares underlying outstanding stock awards, consisting of RSUs, held as of December 31, 2025, by each non-employee director serving as of such date is set forth below. |
Name | Aggregate Number of Shares Underlying Outstanding RSUs | ||
James Fu Bin Lu | — | ||
Daniel Brooks Baer | 5,731 | ||
Chad Cohen | 7,223 | ||
J. Michael Gearon, Jr. | 5,430 | ||
Gary I. Horowitz | — | ||
Nathan Richardson | 6,143 | ||
Meghan Stabler | 6,222 | ||
G. Raymond Zage, III | 5,002 | ||
(4) | Mr. Fu Bin Lu served on our Board of Directors until November 5, 2025. Mr. Cohen was appointed to our Board of Directors, effective June 3, 2025. Mr. Horowitz served on our Board of Directors until June 3, 2025. |
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Fiscal Year Ended | ||||||
(in thousands) | 2025 | 2024 | ||||
Audit Fees(1) | $5,167 | $2,437 | ||||
Audit-Related Fees(2) | — | $56 | ||||
Tax Fees | — | — | ||||
All Other Fees | — | — | ||||
Total Fees | $5,167 | $2,493 | ||||
(1) | Audit Fees in 2025 and 2024 consisted of fees for audit services primarily related to the audit of the annual consolidated financial statements; the review of the quarterly consolidated financial statements; consents and assistance with and review of other documents filed with the SEC; and other accounting and financial reporting consultation and research work billed as audit fees or necessary to comply with the standards of the Public Company Accounting Oversight Board. Audit fees in 2025 also include fees for professional services rendered for the audit of the effectiveness of internal control over financial reporting. |
(2) | Audit-Related fees consist of services reasonably related to the performance of the audit or review of the Company’s financial statements, including consultations regarding the evaluation of internal controls. |
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• | Share Reserve Increase. Subject to adjustment for certain changes in our capitalization, if this Proposal 3 is approved by our stockholders, the aggregate number of shares of common stock that may be issued under the Amended 2022 Plan will not exceed 28,224,700 shares, which is the sum of (i) 13,764,400 shares of Common Stock initially reserved under the 2022 Plan, (ii) 2,860,300 shares of Common Stock added to the 2022 Plan as approved by our stockholders at our 2024 Annual Meeting, and (iii) 11,600,000 shares of Common Stock added to the Amended 2022 Plan if this Proposal 3 is approved by our stockholders at the Annual Meeting. |
• | Anti-Repricing Provision. The 2022 Plan, as previously in effect, authorized our Board of Directors to reprice outstanding stock options and stock appreciation rights and to cancel underwater awards in exchange for cash or other stock awards without obtaining the approval of our stockholders. The Amended 2022 Plan removes this authority and requires stockholder approval for any such action. |
• | Dividends and Dividend Equivalents on Unvested Awards. The Amended 2022 Plan expressly provides that any dividends or dividend equivalents with respect to the unvested portion of any award shall be accumulated and shall not be paid or distributed until, and shall be subject to the same vesting conditions as, the underlying award to which they relate, and shall be forfeited to the extent the underlying award is forfeited. |
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2025 | 2024 | 2023 | |||||||
Total number of shares of common stock subject to stock options granted | — | — | — | ||||||
Total number of shares of common stock subject to full value awards granted | 5,764,052 | 2,946,124 | 2,871,233 | ||||||
Weighted-average number of shares of common stock outstanding | 190,056,612 | 175,880,320 | 174,170,517 | ||||||
Burn Rate(1) | 3.0% | 1.7% | 1.6% | ||||||
(1) | Burn Rate is calculated as (shares of common stock subject to stock options granted + shares of common stock subject to full value awards granted) / weighted-average shares of common stock outstanding. |
As of April 9, 2026 (Record Date) | |||
Total number of shares of common stock subject to outstanding stock options | 302,485 | ||
Weighted-average exercise price of outstanding stock options | $4.774 | ||
Weighted-average remaining term of outstanding stock options | (1) | ||
Total number of shares of common stock subject to outstanding full value awards(2) | 8,585,666 | ||
Total number of shares of common stock available for grant under our 2022 Equity Incentive Plan | 2,820,621 | ||
Total number of shares of common stock available for grant under our 2020 Equity Incentive Plan | — | ||
Total number of shares of common stock outstanding | 177,218,700 | ||
Per-share closing price of common stock as reported on NYSE | $11.99 | ||
(1) | Expiration Dates range from October 13, 2027 to October 17, 2029. |
(2) | A “full value award” is any award other than a stock option or stock appreciation with respect to which the exercise or strike price is at least 100% of the fair market value of our common stock on the date of grant. |
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Name and Position | Dollar Value ($) | Number of Shares (#) | ||||
George Arison Chief Executive Officer and Director | 26,977,500(1) | 2,250,000(1) | ||||
John North Chief Financial Officer | (2) | (2) | ||||
Austin “AJ” Balance Chief Product Officer | (2) | (2) | ||||
Zachary Katz Chief Legal Officer, General Counsel and Head of Global Affairs | (2) | (2) | ||||
Vandana Mehta-Krantz Former Chief Financial Officer | (3) | (3) | ||||
All current executive officers as a group | 26,977,500 | 2,250,000 | ||||
All current directors who are not executive officers as a group | (4) | (4) | ||||
All employees, including all current officers who are not executive officers, as a group | (2) | (2) | ||||
(1) | Pursuant to the Arison Employment Agreement, Mr. Arison is entitled to receive a refresh award of 2,250,000 restricted stock units under the Amended 2022 Plan, subject to approval by our stockholders of this Proposal 3 and contingent upon the effectiveness of the Registration Statement on Form S-8 to be filed with respect to the newly available authorized shares under the Amended 2022 Plan. The dollar amount equals the number of shares subject to the applicable award times $11.99, the closing price of a share of common stock on the Record Date. |
(2) | Awards to be granted to our executive officers (other than Mr. Arison) and other employees are discretionary and as such, the Company cannot currently determine the benefits or number of shares subject to awards that may be granted in the future to such individuals under the Amended 2022 Plan. Other than as described in footnote 1 above with respect to Mr. Arison’s refresh restricted stock unit award, we do not presently have any current plans, proposals or arrangements, written or otherwise, to issue any of the newly available authorized shares under the Amended 2022 Plan. |
(3) | Ms. Krantz’s employment with us terminated on March 31, 2026. Therefore, she will not be eligible to receive any awards under the Amended 2022 Plan. |
(4) | Awards granted under the Amended 2022 Plan to our non-employee directors are not subject to set benefits or amounts under the terms of the Amended 2022 Plan itself. However, our director compensation policy provides for certain equity award grants to our non-employee directors. For additional information regarding our current compensation program for non-employee directors and awards granted thereunder to our non-employee directors in 2025, please see the section above entitled “Director Compensation.” |
Name and Position | Number of Shares | ||
George Arison Chief Executive Officer and Director | 4,414,126 | ||
John North Chief Financial Officer | 748,002 | ||
Austin “AJ” Balance Chief Product Officer | 1,278,498 | ||
Zachary Katz Chief Legal Officer, General Counsel and Head of Global Affairs | 1,048,940 | ||
Vandana Mehta-Krantz Former Chief Financial Officer | 1,254,426 | ||
All current executive officers as a group | 7,489,566 | ||
All current directors who are not executive officers as a group | 220,487 | ||
Each associate of any executive officers or current directors | — | ||
Each other person who received or is to receive 5% of awards | — | ||
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Name and Position | Number of Shares | ||
All employees, including all current officers who are not executive officers, as a group | 10,910,542 | ||
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Name | Age | Position | ||||
George Arison | 48 | Chief Executive Officer, Director | ||||
John North | 48 | Chief Financial Officer | ||||
Austin “AJ” Balance | 39 | Chief Product Officer | ||||
Zachary Katz | 48 | Chief Legal Officer, General Counsel and Head of Global Affairs | ||||
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Name | Position(s) | ||
George Arison | Chief Executive Officer | ||
John North(1) | Chief Financial Officer | ||
Austin “AJ” Balance | Chief Product Officer | ||
Zachary Katz(2) | Chief Legal Officer, General Counsel & Head of Global Affairs | ||
Vandana Mehta-Krantz(1) | Former Chief Financial Officer | ||
(1) | As previously disclosed, effective October 1, 2025, Mr. North commenced employment as our Chief Financial Officer. Ms. Krantz continued to be employed as a senior advisor to Grindr through March 31, 2026. Please see the section in this CD&A below entitled “CFO Transition” for more details regarding arrangements we entered into with Mr. North and Ms. Krantz in connection with the CFO transition. |
(2) | Effective January 1, 2026, Mr. Katz’s title changed from “General Counsel & Head of Global Affairs” to “Chief Legal Officer, General Counsel & Head of Global Affairs.” |
• | attract, retain, and motivate superior employees who meet a high talent bar in key positions, particularly because we run a lean organization where each individual team member holds significant responsibility and is critical to the company’s success; |
• | support our Grindr Mode culture, which emphasizes (1) taking ownership over our potential and outcomes; (2) learning relentlessly; (3) embracing driving work forward - both through their teams and independently; (4) creating clarity and operating through ambiguity; and (5) unleashing our employees’ full potential; |
• | align our compensation structures with our strategic needs and competitive practices; |
• | provide incentives that align our executives’ interests with those of our stockholders; and |
• | promote consistency and internal equity among the members of our executive team. |
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What We Do | What We Don’t Do | ||||||||
✔ | Deliver a majority of compensation through performance-based short-term cash and equity incentives and long-term equity incentives | ✘ | No tax reimbursements or tax gross-ups on severance or change in control payments for excise taxes under Section 4999 of the Code | ||||||
✔ | Determine incentive opportunities based on corporate and individual performance | ✘ | No special executive welfare or health benefits, or retirement plans not available to our employees generally | ||||||
✔ | Assess risks of our compensation program | ✘ | No guaranteed salary increases or annual bonuses | ||||||
✔ | Retain an independent compensation advisor | ||||||||
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• | Publicly-traded high-technology or media companies |
• | Market capitalization of less than $2 billion |
• | Annual revenue between $100 million and $2 billion |
• | Direct market peers or other direct-to-consumer, software platforms in other industries |
• | Reference to our historical peer group and broader market competitor groups |
Bumble (BMBL) | Match Group (MTCH) | ThredUp (TDUP) | ||||
Coursera (COUR) | NerdWallet (NRDS) | Udemy (UDMY) | ||||
Dave (DAVE) | Nextdoor Holdings (NXDR) | Vimeo (VMEO) | ||||
Duolingo (DUOL) | Peloton (PTON) | Yelp (YELP) | ||||
Eventbrite (EB) | Snap (SNAP) | Ziff Davis (ZD) | ||||
Sprout Social (SPT) | ZipRecruiter (ZIP) | |||||
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⮚ | Company performance and existing business needs | ⮚ | Grindr’s ownership, culture and values | ||||||
⮚ | Each executive officer’s individual performance, scope of job function and criticality of the skill set | ⮚ | Our Compensation Committee’s judgment | ||||||
⮚ | The need to attract new talent and retain existing talent in a highly competitive industry | ⮚ | Each executive officer’s current equity ownership and total direct compensation | ||||||
⮚ | Our Chief Executive Officer’s recommendations (other than for himself) | ⮚ | Aggregate compensation cost and impact on stockholder dilution | ||||||
⮚ | Internal pay equity | ⮚ | Positioning relative to peers in market | ||||||
Element/Form | Objectives | Key Features | ||||
Base Salary (cash; fixed) | Provides stable, market-competitive fixed pay that reflects role scope, experience, and sustained performance; supports attraction and retention of critical leadership talent. | Generally reviewed annually by the Compensation Committee and determined based on a number of factors (including individual performance, experience in role, internal equity, and retention) and by reference to market data provided by FW Cook. | ||||
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Element/Form | Objectives | Key Features | ||||
Annual Cash Bonus (cash; variable) | Focuses executives on the Company’s key annual financial and operating priorities; payouts align with performance outcomes and occur after year-end based on certified results. | Target bonus amounts are generally reviewed annually by the Compensation Committee and determined based on company and executive performance, in addition to market data provided by our independent compensation consultant for positions that have similar impact on the organization. Target metrics are generally determined by the Compensation Committee and communicated at the beginning of the year. Rigorous minimum performance thresholds must be met before any payout, ensuring alignment with overall company health. Annual bonuses for 2025 were funded based on two equally weighted financial performance measures (year-over-year revenue growth and adjusted EBITDA) selected by our Compensation Committee to incentivize balanced performance across key drivers of profitability for the Company, consistent with our annual operating plan and long-term strategy. Individual performance is also considered when determining final bonus payouts. | ||||
Equity-Based Incentives • Key Performance Indicator (KPI) Restricted Stock Units (RSUs) • Time-Based Equity (RSUs) • Market Condition Performance-Vesting RSUs (PSUs) • Stock Price PSUs (equity; variable) | Attracts highly qualified executives and encourages their continued employment over the long-term; motivates and rewards for annual and sustained enterprise value creation; aligns executives’ interests with stockholder interests and changes in stockholder value. | Equity-based incentive opportunities are generally reviewed annually or as appropriate during the year for new hires, promotions, or other special circumstances, such as to encourage retention, or as a reward for significant achievement. Individual grants are determined based on a number of factors, including current corporate and individual performance, the retention value of current equity holdings, historical value of our stock, market data provided by FW Cook. KPI RSUs for 2025 were subject to two equally weighted financial performance measures (year-over-year revenue growth and adjusted EBITDA) selected by our Compensation Committee for our annual cash bonus plan. Time-based RSUs are subject to multi-year vesting to promote retention. Market condition PSUs (including market capitalization, stock price, and Adjusted EBITDA metrics) and stock price PSUs are earned only upon achieving objective, external value-creation milestones and sustained stock price performance. | ||||
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Executive | 2024 Annual Base Salary Rate ($) | 2025 Annual Base Salary Rate ($) | Percentage Change | ||||||
George Arison(1) | $1,000,000 | $1,000,000 | — | ||||||
John North(2) | — | $175,000 | — | ||||||
Austin “AJ” Balance | $410,000 | $410,000 | — | ||||||
Zachary Katz(1) | $440,000 | $440,000 | — | ||||||
Vandana Mehta-Krantz(3) | $505,000 | $505,000 | — | ||||||
(1) | Base salary was established when he commenced employment with Grindr and has not increased. |
(2) | Mr. North commenced employment with Grindr on October 1, 2025. |
(3) | Ms. Krantz departed Grindr effective March 31, 2026. |
Executive | Target Bonus as % of Salary | Target Bonus ($) | ||||
George Arison | 100% | $1,000,000 | ||||
John North(1) | 100% | $43,750 | ||||
Austin “AJ” Balance | 55% | $225,500 | ||||
Zachary Katz | 50% | $220,000 | ||||
Vandana Mehta-Krantz | 60% | $303,000 | ||||
(1) | Mr. North commenced employment with the Company on October 1, 2025, and his opportunity under the Bonus Plan for 2025 was prorated based on his start date. |
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2025 YOY Revenue Growth(1) | 2025 Adjusted EBITDA(2) | ||||||||||||||||
Performance Level | Multiplier(3) | Actual Results | Performance Level | Multiplier(3) | Actual Results | ||||||||||||
24% | 0.5x | $182 million | 1.0x | ||||||||||||||
25% | 0.75x | $190 million | 1.5x | ||||||||||||||
26% | 1.0x | $194 million | 1.8x | $195.6M ➜ 1.84x | |||||||||||||
27% | 1.1x | 27.6% ➜ 1.16x | $200 million | 2.0x | |||||||||||||
28% | 1.2x | More than $200 million | Increases at the same rate as between $194 million and $200 million of 2025 Adjusted EBITDA(4) | ||||||||||||||
29% | 1.3x | ||||||||||||||||
30% | 1.4x | ||||||||||||||||
Greater than 30% | 0.1x added for each additional 1% of 2025 YOY Revenue Growth | ||||||||||||||||
Company Performance Multiplier: 1.5x(5) | |||||||||||||||||
(1) | “2025 YOY Revenue Growth” is defined as year-over-year Revenue growth for calendar year 2025 as compared to calendar year 2024. “Revenue” means Grindr’s total consolidated revenues for the applicable period, as determined in accordance with U.S. generally accepted accounting principles and reported in Grindr’s audited financial statements. |
(2) | “2025 Adjusted EBITDA” is defined as Grindr’s Adjusted EBITDA for the 2025 calendar year, as reported in Grindr’s audited financial statements (net income (loss) excluding income tax provision; interest expense, net; depreciation and amortization; stock-based compensation expense; change in fair value of warrant liability; and employee transition costs, litigation-related costs, transaction-related costs, management fees and other items, in each case, that are unrelated to our core ongoing business operations); provided that, for purposes of the Bonus Plan, (i) in no event would annual bonuses paid to employees of Grindr during the 2025 calendar year cause the 2025 Adjusted EBITDA to fall below $182 million, and (ii) litigation- or settlement-related costs related to a certain litigation matter were to be added back into 2025 Adjusted EBITDA to the extent such costs were not otherwise added back in the calculation of Adjusted EBITDA for 2025 as set forth in our audited financial statements and not reimbursed or otherwise paid for by insurance as of December 31, 2025. No amounts were added back pursuant to clause (ii) in 2025. |
(3) | The amount of each multiplier could scale linearly between each of the percentage levels in the table above 24% for 2025 YOY Revenue Growth and above $182 million for 2025 Adjusted EBITDA as determined by the Compensation Committee. |
(4) | The 2025 Adjusted EBITDA Multiplier could exceed 2.0x only if the 2025 YOY Revenue Growth Multiplier was equal to or greater than 1.0x. |
(5) | The actual multipliers for 2025 YOY Revenue Growth (1.16x) and 2025 Adjusted EBITDA (1.84x) produced a combined Company performance multiplier of 2.0x, which was reduced to 1.5x pursuant to the cap described above. |
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Executive | Target Bonus ($) | Company Performance Multiplier(1) | Final Bonus Performance Multiplier(2) | Aggregate 2025 Bonus Plan Payout ($) | ||||||||
George Arison | $1,000,000 | 1.5x | 2.9x | $2,900,000 | ||||||||
John North | $43,750 | 1.5x | 3.5x | $153,125 | ||||||||
Austin “AJ” Balance | $225,500 | 1.5x | 2.8x | $631,400 | ||||||||
Zachary Katz | $220,000 | 1.5x | 2.5x | $550,000 | ||||||||
Vandana Mehta-Krantz(3) | $303,000 | — | 1.0x | $303,000 | ||||||||
(1) | As noted above, actual multipliers for 2025 YOY Revenue Growth (1.16x) and 2025 Adjusted EBITDA (1.84x) produced a combined Company performance multiplier of 2.0x, which was reduced to 1.5x pursuant to the cap described above, which multiplier was utilized to determine the aggregate amount of bonus payments available under the Bonus Plan. The Compensation Committee referenced the combined Company performance multiplier of 2.0x in determining the individual performance adjustments for executive officers. |
(2) | The final bonus performance multiplier shown in this column reflects the total bonus multiplier applicable to the individual, determined by combining the Company performance multiplier with any upward or downward individual performance adjustment by the Compensation Committee. |
(3) | Pursuant to Ms. Krantz’s transition agreement with Grindr, she remained eligible to receive a 2025 bonus under the Bonus Plan based on actual Company performance at an individual performance multiplier of 1.0x. |
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Executive | Target KPI RSU Value ($) | Target KPI RSUs (#)(1) | ||||
George Arison | $1,500,000 | 85,753 | ||||
John North(2) | $125,000 | 8,412 | ||||
Austin “AJ” Balance | $350,000 | 23,555 | ||||
Zachary Katz | $250,000 | 16,825 | ||||
Vandana Mehta-Krantz(3) | $550,000 | — | ||||
(1) | Number of KPI RSUs (at target) determined by dividing the targeted value by the average volume-weighted average trading price (the “average VWAP”) of a share of our common stock over the 90 trading days leading up to the applicable grant date (the “pre-grant VWAP”). |
(2) | Mr. North’s KPI RSU award opportunity for 2025 was prorated based on his October 1, 2025 start date. |
(3) | Ms. Krantz’s 2025 KPI RSU framework provided for a range of dollar values that would be converted into fully vested RSUs based on achievement of the performance parameters described below, but she did not receive a grant of target KPI RSUs. |
Initial Earned KPI RSUs as % of Target or Based on Earned KPI RSU Value(1) | |||||||||
Executive | 1.0x Company Performance Multiplier | 1.5x Company Performance Multiplier | 2.0x Company Performance Multiplier | ||||||
George Arison | 100.0% of Target KPI RSUs ($1,500,000) | 150.0% of Target KPI RSUs ($2,250,000) | 200.0% of Target KPI RSUs ($3,000,000) | ||||||
John North | 100.0% of Target KPI RSUs ($125,000) | 120.0% of Target KPI RSUs ($150,000) | 140.0% of Target KPI RSUs ($175,000) | ||||||
Austin “AJ” Balance | 100.0% of Target KPI RSUs ($350,000) | 116.5% of the Target KPI RSUs ($407,750) | 132.9% of Target KPI RSUs ($465,000) | ||||||
Zachary Katz | 100.0% of Target KPI RSUs ($250,000) | 120.0% of the Target KPI RSUs ($300,000) | 140.0% of Target KPI RSUs ($350,000) | ||||||
Vandana Mehta-Krantz(2) | $550,000 | $640,000 | $730,000 | ||||||
(1) | The number of initial earned KPI RSUs as a percentage of target (or, for Ms. Krantz, the earned KPI RSU value) would scale linearly between the percentages (or dollar amounts) set forth above for every one-tenth increase in the Company performance multiplier and could also scale linearly for incremental performance between each one-tenth step in the Compensation Committee’s discretion. |
(2) | Ms. Krantz’s 2025 KPI RSU framework provided for a range of earned KPI RSU values that would be converted, to the extent the applicable Company performance multiplier was achieved, into fully vested RSUs by dividing the applicable earned KPI RSU value by the average VWAP over the 90 trading days preceding the grant date. |
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2025 YOY Revenue Growth(1) | 2025 Adjusted EBITDA(1) | ||||||||||||||||
Performance Level | Multiplier(2) | Actual Results | Performance Level | Multiplier(2) | Actual Results | ||||||||||||
24% - 26% | 1.0x | $182 million | 1.0x | ||||||||||||||
27% | 1.1x | 27.6% ➜ 1.16x | $190 million | 1.5x | |||||||||||||
28% | 1.2x | $194 million | 1.8x | $195.6M ➜ 1.84x | |||||||||||||
29% | 1.3x | $200 million | 2.0x | ||||||||||||||
30% | 1.4x | More than $200 million | See below(3) | ||||||||||||||
Greater than 30% | 0.1x added for each additional 1% of 2025 YOY Revenue Growth | ||||||||||||||||
Actual Company Performance Multiplier: 1.16x + 1.84x – 1.00x = 2.0x | |||||||||||||||||
(1) | 2025 YOY Revenue Growth and 2025 Adjusted EBITDA have the same definitions as set forth above with respect to the Bonus Plan. |
(2) | The number of initial earned KPI RSUs (or, for Ms. Krantz, the earned KPI RSU value) could scale linearly between each of the Company performance multipliers set forth above between 1.0x and 2.0x as determined by the Compensation Committee. |
(3) | For Mr. Arison only, the 2025 Adjusted EBITDA Multiplier increased at the same rate as between $194 million and $200 million of 2025 Adjusted EBITDA and could exceed 2.0x only if the 2025 YOY Revenue Growth Multiplier was equal to or greater than 1.0x. For the other named executive officers, any amount added to the 2025 Adjusted EBITDA Multiplier above $200 million of 2025 Adjusted EBITDA would be in the Compensation Committee’s sole discretion. |
Executive | Target KPI RSUs (#) | Actual Company Performance Multiplier | Initial Earned KPI RSUs as % of Target | Initial Earned KPI RSUs (#) | True- up/ Additional KPI RSUs(1) | Aggregate Earned KPI RSUs | ||||||||||||
George Arison | 85,753 | 2.0x | 200.0% | 171,506 | 68,563 | 240,069 | ||||||||||||
John North | 8,412 | 2.0x | 140.0% | 11,776 | 6,226(2) | 18,002 | ||||||||||||
Austin “AJ” Balance | 23,555 | 2.0x | 132.9% | 31,304 | 5,916 | 37,220 | ||||||||||||
Zachary Katz | 16,825 | 2.0x | 140.0% | 23,555 | 4,452 | 28,007 | ||||||||||||
(1) | For Messrs. Arison, Balance, and Katz, reflects the number of additional fully vested KPI RSUs granted to each named executive officer because the pre-grant VWAP was greater than the post-vest VWAP, as described above (the “True-up KPI RSUs”). |
(2) | For Mr. North, reflects the sum of (a) 2,225 True-up KPI RSUs, and (b) 4,001 additional, discretionary fully vested KPI RSUs awarded by the Compensation Committee in its discretion at the time that it certified 2025 performance, in recognition of Mr. North’s outsized contributions to Grindr’s success during his relatively short tenure in service in 2025 and based on a 3.0x Company performance multiplier. |
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Executive | Shares Underlying RSU Grant (#) | Aggregate Grant Date Fair Value ($) | ||||
George Arison(1) | 2,250,000 | $28,912,500 | ||||
John North(2) | 730,000 | $10,862,400 | ||||
Austin “AJ” Balance(3) | 425,000 | $5,452,750 | ||||
Zachary Katz(3) | 270,000 | $3,464,100 | ||||
(1) | Mr. Arison’s refresh RSU award was granted contingent upon stockholder approval at the Annual Meeting of an amendment to increase the share reserve under our 2022 Plan, as set forth in Proposal 3 to this proxy statement. These RSUs will have a vesting commencement date of October 19, 2027, the fifth anniversary of Mr. Arison’s employment start date, and will vest in six equal installments every six months thereafter, with the final such vesting date occurring on October 19, 2030, subject to Mr. Arison’s continued employment through each applicable vesting date. |
(2) | The initial RSU award granted to Mr. North vests over a five-year period, with 110,000 shares vesting on the each of the first and second anniversaries of October 1, 2025, 150,000 shares vesting on the third anniversary of October 1, 2025, and 180,000 shares vesting on each of the fourth and fifth anniversaries of October 1, 2025. |
(3) | The refresh RSU awards granted to Messrs. Balance and Katz vest over a five-year period, with 20% vesting on December 1, 2026 and November 11, 2026, respectively, and the remainder vesting in equal annual installments thereafter over the subsequent four anniversaries, subject to their respective continued employment through each applicable vesting date. |
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PSU Tranche | Performance Criteria | Deadline for Achievement | Individual PSU Opportunity | ||||||
First Tranche | First to occur of (i) Average Grindr Market Cap(1) exceeds $5 billion, (ii) average VWAP(2) equals/exceeds $26 over a period of 15 consecutive trading days, or (iii) TTM EBITDA(3) equals or exceeds $275 million | On or prior to December 31, 2027 | • Mr. Arison: $20 million(4) • Mr. North: $300,000 (if achieved on or after April 1, 2026, but before July 1, 2026) or $600,000 (if achieved on or after July 1, 2026 through December 31, 2027, inclusive)(4) • Mr. Balance: 200,000 RSUs • Mr. Katz: 60,000 RSUs | ||||||
Second Tranche | First to occur of (i) Average Grindr Market Cap exceeds $7.5 billion, (ii) average VWAP equals/exceeds $39 over a period of 15 consecutive trading days, or (iii) TTM EBITDA equals or exceeds $412 million | On or prior to March 31, 2029 | • Mr. Arison: $30 million(4) • Mr. North: $7.5 million (if achieved on or after July 1, 2027 through March 31, 2029, inclusive)(4) • Mr. Balance: $5 million(4) • Mr. Katz: 60,000 RSUs | ||||||
Third Tranche | First to occur of (i) Average Grindr Market Cap exceeds $10 billion, (ii) average VWAP equals/exceeds $52 over a period of 15 consecutive trading days, or (iii) TTM EBITDA equals or exceeds $550 million | On or after July 1, 2027 through December 31, 2030, inclusive | • Mr. North: $11 million(4) | ||||||
(1) | “Average Grindr Market Cap” means the daily average of the Grindr Market Cap for the 90 trading days preceding a given day. “Grindr Market Cap” means (a) the volume-weighted average trading price of a share of Grindr common stock on a given day, multiplied by (b) the number of issued and outstanding shares of Grindr common stock on such day. |
(2) | For purposes of the Market Condition PSUs, “average VWAP” has the same meaning given to such term above under “—Short-Term Incentive Compensation: 2025 KPI RSU Awards.” |
(3) | “TTM EBITDA” means Grindr’s Adjusted EBITDA as reported in Grindr’s filings with the SEC for the four fiscal quarters preceding and including the most recently completed fiscal quarter of Grindr prior to the determination date (with the day of any filings with the SEC in which Grindr’s Adjusted EBITDA is reported constituting a determination date). |
(4) | Dollar value to be converted into a number of fully vested RSUs based on the average VWAP for the 90 trading days preceding the date that the performance goal is achieved. |
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Name and Principal Position | Year | Salary | Bonus(1) | Stock Awards(2) | Non-Equity Incentive Plan Compensation(3) | All Other Compensation(4) | Total | ||||||||||||||
George Arison Chief Executive Officer | 2025 | $1,000,000 | $1,401,000 | $52,247,082 | $1,500,000 | $20,000 | $56,168,082 | ||||||||||||||
2024 | $1,000,000 | $1,351,000 | $2,667,047 | $1,500,000 | $21,397 | $6,539,444 | |||||||||||||||
2023 | $1,000,000 | $846,000 | $2,350,073 | $1,300,000 | $22,500 | $5,518,573 | |||||||||||||||
John North (5) Chief Financial Officer | 2025 | $43,750 | $88,500 | $15,988,803 | $65,625 | $2,188 | $16,188,865 | ||||||||||||||
Austin “AJ” Balance Chief Product Officer | 2025 | $410,000 | $294,150 | $6,873,753 | $338,250 | $21,000 | $7,937,153 | ||||||||||||||
2024 | $410,000 | $260,325 | $5,254,676 | $338,250 | $21,397(8) | $6,284,649 | |||||||||||||||
2023 | $377,917 | $300,000 | $4,440,873 | $270,210 | $— | $5,389,000 | |||||||||||||||
Zachary Katz Chief Legal Officer & Head of Global Affairs | 2025 | $440,000 | $221,000 | $5,078,186 | $330,000 | $14,300 | $6,083,486 | ||||||||||||||
2024 | $440,000 | $276,000 | $3,722,276 | $330,000 | $21,397(8) | $4,789,674 | |||||||||||||||
Vandana Mehta-Krantz(6) Former Chief Financial Officer | 2025 | $378,750 | — | $2,830,457 | — | $1,186,412(7) | $4,395,619 | ||||||||||||||
2024 | $505,000 | $248,216 | $648,976 | $454,500 | $21,416 | $1,878,108 | |||||||||||||||
2023 | $505,000 | $625,000 | $4,440,379 | $393,300 | $17,388 | $5,981,067 | |||||||||||||||
(1) | The amounts reported in this column for 2025 represent (a) incremental discretionary cash bonuses awarded by the Compensation Committee in March 2026 based on the individual performance of the applicable named executive officers during fiscal year 2025 and (b) a Company-wide cash bonus payment of $1,000 received by each of Messrs. Arison, North, Balance, and Katz. For further information, please refer to the section titled “Compensation Discussion and Analysis – 2025 Executive Compensation Program – 2025 Annual Cash Bonus Plan.” |
(2) | The amounts reported in this column for 2025 do not reflect dollar amounts actually received by our named executive officers. Instead, these amounts reflect (a) the grant date fair value of each RSU award granted (or deemed granted) in 2025 (including certain market condition performance vesting equity awards and stock price performance vesting awards); and (b) the incremental fair value resulting from modification of certain previously granted equity awards which were subsequently modified in 2025, each computed in accordance with the provisions of FASB ASC Topic 718. The assumptions used in calculating the grant date fair value of the RSU awards and incremental increases in fair value resulting from these modifications as reported in this column are set forth in the notes to our audited consolidated financial statements included in Note 13 to the financial statements included in the 2025 Form 10-K. |
(3) | The amounts reported in this column for 2025 consist of standard bonus amounts earned based on the achievement of Company performance goals under the Bonus Plan framework approved by the Compensation Committee in March 2025. For further information, please refer to the sections titled “Compensation Discussion and Analysis – 2025 Executive Compensation Program – 2025 Annual Cash Bonus Plan.” |
(4) | The amounts reported in this column for 2025 for Messrs. Arison, North, Balance and Katz consist of Company 2025 401(k) matching contributions, including contributions of $20,000 for Mr. Arison, $2,188 for Mr. North, $21,000 for Mr. Balance, $14,300 for Mr. Katz. |
(5) | Mr. North commenced employment as our Chief Financial Officer on October 1, 2025 and the prorated amounts shown in this table reflect partial year service. Mr. North was paid a $150,000 sign-on bonus in connection with the commencement of his employment in 2025. Pursuant to the terms of his employment agreement with us Mr. North would have been required to return such amount if he voluntarily resigned without Good Reason or was terminated for Cause (as those terms are defined in his offer letter) before March 2026, which was six months after his start date. The total amount of Mr. North’s bonus payment was, therefore, earned in 2026 six months following his start date, once he could no longer be required to return any amount of his sign-on bonus to us. |
(6) | Ms. Krantz ceased serving as our Chief Financial Officer on October 1, 2025. She was employed as a senior advisor to the Company until March 31, 2026. |
(7) | The amount reported consists of $15,640 in Company 401(k) matching contributions; and $1,170,772 in payments in connection with Ms. Krantz’s transition out of the role of the Company’s Chief Financial Officer, which consists of (i) $252,500 paid in connection with her service as a senior advisor to the company from October 1, 2025 until March 31, 2026, (ii) $505,000, which is equivalent to 12 months of Ms. Krantz’s base salary, (iii) $303,000, which is equivalent to Ms. Krantz’s annual bonus for fiscal year 2025, (iv) $74,712, which is equivalent to Ms. Krantz’s pro-rated annual bonus for fiscal year 2026, and (v) $35,560, representing payment of up to 12 months of COBRA premiums, each as described above in the section titled “Compensation Discussion & Analysis - CFO Transition.” |
(8) | For 2024, the amount reported includes a Safe Harbor true-up payment for 2024 that occurred in 2025 in the amount of $18,650 for Mr. Balance and $6,635 for Mr. Katz, which were not reported in the Summary Compensation Table in our proxy statement for the 2025 annual meeting of stockholders. |
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Name | Type | Grant Date | Estimated Future Payouts Under Non-Equity Incentive Plan Awards ($)(1) | Estimated Future Payouts Under Equity Incentive Plan Awards(2) | All Other Stock Awards: Shares of Stock or Units (#)(2) | Grant Date Fair Value of Stock and Option Awards ($)(3) | ||||||||||||||||||||||||
Threshold ($) | Target ($) | Maximum ($) | Threshold (#)/($) | Target (#)/($) | Maximum (#)/($) | |||||||||||||||||||||||||
George Arison | 2025 Cash Bonus Opportunity | — | 500,000 | 1,000,000 | 1,500,000 | — | — | — | — | — | ||||||||||||||||||||
Modification of Market Condition PSUs(4) | 3/18/2025 | — | — | — | — | — | — | — | 4,039,371 | |||||||||||||||||||||
Modification of Market Condition PSUs(5) | 11/30/2025 | — | — | — | — | — | — | — | 16,363,969(6) | |||||||||||||||||||||
Modification of Market Condition PSUs(7) | 11/30/2025 | — | — | — | — | — | — | — | —(8) | |||||||||||||||||||||
Refresh RSUs | 11/30/2025 | — | — | — | — | — | — | 2,250,000 | 28,912,500 | |||||||||||||||||||||
2025 KPI RSUs | 4/21/2025 | — | — | — | 85,753 | 128,629(17) | 171,506 | — | 2,094,088 | |||||||||||||||||||||
2025 True-up KPI RSUs | 3/12/2026 | — | — | — | — | — | — | 68,563 | 837,154 | |||||||||||||||||||||
John North | 2025 Cash Bonus Opportunity(9) | — | 21,875 | 43,750 | 65,625 | — | — | — | — | — | ||||||||||||||||||||
Market Condition PSUs(10) | 10/1/2025 | — | — | — | — | $300,000 | $600,000 | — | 272,595 | |||||||||||||||||||||
Market Condition PSUs(10) | 10/1/2025 | — | — | — | — | $7,500,000 | — | — | 2,110,170 | |||||||||||||||||||||
Market Condition PSUs(10) | 10/1/2025 | — | — | — | — | $11,000,000 | — | — | 2,196,416 | |||||||||||||||||||||
New Hire RSUs | 10/1/2025 | — | — | — | — | — | — | 730,000 | 10,862,400 | |||||||||||||||||||||
Modification of Market Condition PSUs(11) | 11/30/2025 | — | — | — | — | — | — | — | 327,405(6) | |||||||||||||||||||||
Modification of Market Condition PSUs(12) | 11/30/2025 | — | — | — | — | — | — | — | —(8) | |||||||||||||||||||||
Modification of Market Condition PSUs(13) | 11/30/2025 | — | — | — | — | — | — | — | —(8) | |||||||||||||||||||||
2025 KPI RSUs | 11/30/2025 | — | — | — | 8,412 | 10,094(17) | 11,776 | — | 143,789 | |||||||||||||||||||||
2025 True-up KPI RSUs | 3/12/2026 | — | — | — | — | — | — | 2,225 | 27,171 | |||||||||||||||||||||
2025 Additional KPI RSUs | 3/12/2026 | — | — | — | — | — | — | 4,001 | 48,856 | |||||||||||||||||||||
Austin “AJ” Balance | 2025 Cash Bonus Opportunity | — | 112,750 | 225,500 | 338,250 | — | — | — | — | — | ||||||||||||||||||||
Market Condition PSUs(10) | 11/30/2025 | — | — | — | — | $5,000,000 | — | — | 709,935 | |||||||||||||||||||||
Modification of Market Condition PSUs(14) | 11/30/2025 | — | — | — | — | — | — | — | —(8) | |||||||||||||||||||||
Refresh RSUs | 11/30/2025 | — | — | — | — | — | — | 425,000 | 5,452,750 | |||||||||||||||||||||
Stock Price PSUs | 11/30/2025 | — | — | — | — | 20,000 | — | — | 256,600 | |||||||||||||||||||||
2025 KPI RSUs | 11/30/2025 | — | — | — | 23,555 | 17,441(17) | 31,304 | — | 382,228 | |||||||||||||||||||||
2025 True-up KPI RSUs | 3/12/2026 | — | — | — | — | — | — | 5,916 | 72,240 | |||||||||||||||||||||
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Name | Type | Grant Date | Estimated Future Payouts Under Non-Equity Incentive Plan Awards ($)(1) | Estimated Future Payouts Under Equity Incentive Plan Awards(2) | All Other Stock Awards: Shares of Stock or Units (#)(2) | Grant Date Fair Value of Stock and Option Awards ($)(3) | ||||||||||||||||||||||||
Threshold ($) | Target ($) | Maximum ($) | Threshold (#)/($) | Target (#)/($) | Maximum (#)/($) | |||||||||||||||||||||||||
Zachary Katz | 2025 Cash Bonus Opportunity | — | 110,000 | 220,000 | 330,000 | — | — | — | ||||||||||||||||||||||
Market Condition PSUs | 11/30/2025 | — | — | — | — | 60,000 | — | — | 771,000 | |||||||||||||||||||||
Market Condition PSUs | 11/30/2025 | — | — | — | — | 60,000 | — | — | 308,671 | |||||||||||||||||||||
Refresh RSUs | 11/30/2025 | — | — | — | — | — | — | 270,000 | 3,464,100 | |||||||||||||||||||||
Stock Price PSUs | 11/30/2025 | — | — | — | — | 15,000 | — | — | 192,450 | |||||||||||||||||||||
2025 KPI RSUs | 11/30/2025 | — | — | — | 16,825 | 20,190(17) | 23,555 | — | 287,606 | |||||||||||||||||||||
2025 True-up KPI RSUs | 3/12/2026 | — | — | — | — | — | — | 4,452 | 54,359 | |||||||||||||||||||||
Vandana Mehta-Krantz | 2025 Cash Bonus Opportunity | — | 151,500 | 303,000 | 454,500 | — | — | — | — | — | ||||||||||||||||||||
Modification of RSUs(15) | 7/28/2025 | — | — | — | — | — | — | — | 867,510 | |||||||||||||||||||||
Modification of RSUs(15) | 7/28/2025 | — | — | — | — | — | — | — | 608,096 | |||||||||||||||||||||
Modification of RSUs(15) | 9/30/2025 | — | — | — | — | — | — | — | 641,580 | |||||||||||||||||||||
2025 KPI RSUs(16) | 3/12/2026 | $550,000 | $640,000 | $730,000 | 58,417 | 713,272 | ||||||||||||||||||||||||
(1) | The amounts disclosed represent the threshold, target, and maximum non-equity incentive cash bonus amounts that were payable based on the Company performance multiplier pursuant to our 2025 performance-based cash bonus program, as further described in the section titled “Compensation Discussion and Analysis — 2025 Executive Compensation Program — 2025 Annual Cash Bonus Plan.” |
(2) | Except as otherwise noted, the amounts reported in these columns reflect equity-based incentives for our named executive officers pursuant to our 2022 Plan. For further information, please refer to the section titled “Compensation Discussion and Analysis — 2025 Executive Compensation Program — Equity-Based Incentive Compensation.” |
(3) | Except as otherwise noted, the amounts reported in this column do not reflect dollar amounts actually received by our named executive officers. Instead, these amounts reflect (a) the grant date fair value of each RSU award granted (or deemed granted) during the fiscal year ended December 31, 2025 and (b) for certain previously granted equity awards which were subsequently modified in 2025, as disclosed under the column “Grant Date”, the difference between the fair value as of the modification date and the fair value immediately prior to the modification, each computed in accordance with the provisions of FASB ASC Topic 718. The assumptions used in calculating the grant date fair value of the RSU awards reported in this column are set forth in the notes to our audited consolidated financial statements included in Note 13 to the financial statements included in the 2025 Form 10-K. |
(4) | The amount disclosed represents the incremental fair value, as of the modification date, associated with the modification of a market condition PSU award arrangement approved by the Compensation Committee in November 2022 to provide for (a) a reduction in the required market capitalization threshold that needed to be achieved to earn certain fully vested RSUs from $10 billion to $7.5 billion and (b) the addition of a deadline of October 19, 2027 for achievement of such threshold. For further information regarding these awards, please refer to the section titled “Compensation Discussion and Analysis — 2025 Executive Compensation Program — Equity-Based Incentive Compensation — Market Condition PSU Awards.” |
(5) | The amount disclosed represents the incremental fair value, as of the modification date, associated with the modification of a market condition PSU award arrangement approved by the Compensation Committee in November 2022 to provide for (a) the addition of alternative performance conditions based on share price and adjusted EBITDA, and (b) the extension of the deadline for achievement of such threshold to December 31, 2027. For further information regarding these awards, please refer to the section titled “Compensation Discussion and Analysis — 2025 Executive Compensation Program — Equity-Based Incentive Compensation — Market Condition PSU Awards.” |
(6) | As of the modification date, the Company determined that the performance condition is probable. As such, the fair value as of the modification date assumes that the performance condition for vesting has been satisfied. |
(7) | The amount disclosed represents the incremental fair value, as of the modification date, associated with the modification of a market condition PSU award arrangement approved by the Compensation Committee in November 2022 (and subsequently modified in March 2025) to provide for (a) the addition of alternative performance conditions based on share price and adjusted EBITDA, and (b) the extension of the deadline for achievement of such threshold to March 31, 2029. For further information regarding these awards, please refer to the section titled “Compensation Discussion and Analysis — 2025 Executive Compensation Program — Equity-Based Incentive Compensation—Market Condition PSU Awards.” |
(8) | The amount reported in this column reflects that there was a decrease in the fair value of this award from the original grant date to the modification date. |
(9) | Mr. North’s 2025 opportunity under our Bonus Plan was prorated based on his start date. |
(10) | The dollar values shown under “Estimated Future Payouts under Equity Incentive Plan Awards” will be converted into a number of fully vested RSUs based on the average VWAP for the 90 trading days preceding the date that the performance goal is achieved. |
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(11) | The amount disclosed represents the incremental fair value, as of the modification date, associated with the modification of a market condition PSU award arrangement approved by the Compensation Committee in October 2025 to provide for (a) the addition of alternative performance conditions based on share price and adjusted EBITDA, and (b) the addition of a deadline of December 31, 2027 for achievement of the required performance condition. For further information regarding these awards, please refer to the section titled “Compensation Discussion and Analysis — 2025 Executive Compensation Program — Equity-Based Incentive Compensation — Market Condition PSU Awards.” |
(12) | The amount disclosed represents the incremental fair value, as of the modification date, associated with the modification of a market condition PSU award arrangement approved by the Compensation Committee in October 2025 to provide for (a) the addition of alternative performance conditions based on share price and adjusted EBITDA, and (b) the addition of a deadline of March 31, 2029 for achievement of the required performance condition. For further information regarding these awards, please refer to the section titled “Compensation Discussion and Analysis — 2025 Executive Compensation Program — Equity-Based Incentive Compensation — Market Condition PSU Awards.” |
(13) | The amount disclosed represents the incremental fair value, as of the modification date, associated with the modification of a market condition PSU award arrangement approved by the Compensation Committee in October 2025 to provide for (a) the addition of alternative performance conditions based on share price and adjusted EBITDA, and (b) the addition of a deadline of December 31, 2030 for achievement of the required performance condition. For further information regarding these awards, please refer to the section titled “Compensation Discussion and Analysis — 2025 Executive Compensation Program — Equity-Based Incentive Compensation — Market Condition PSU Awards.” |
(14) | The amount disclosed represents the incremental fair value, as of the modification date, associated with the modification of a market condition PSU award arrangement approved by the Compensation Committee in October 2024 to provide for (a) the addition of alternative performance conditions based on share price and adjusted EBITDA, and (b) the addition of a deadline of December 31, 2027 for achievement of the required performance condition. For further information regarding these awards, please refer to the section titled “Compensation Discussion and Analysis — 2025 Executive Compensation Program — Equity-Based Incentive Compensation — Market Condition PSU Awards.” |
(15) | The amounts disclosed represent the incremental fair value, as of the applicable modification date, associated with the modification of certain time-vesting RSUs to provide for accelerated vesting in connection with Ms. Krantz’s termination of employment. |
(16) | The amounts disclosed represent (a) the range (threshold, at a 1.0x Company performance multiplier; target, at a 1.5x Company performance multiplier; and maximum, at a 2.0x Company performance multiplier) of potential earned 2025 KPI RSU values that Ms. Krantz was eligible to receive, to be converted into fully vested RSUs by dividing the applicable earned KPI RSU value by the average VWAP over the 90 trading days preceding December 31, 2025, (b) the actual fully KPI RSUs that Ms. Krantz received in March 2026 with respect to 2025 performance, and (c) the grant date fair value of such fully vested KPI RSUs. |
(17) | The amount disclosed represents the number of initial earned KPI RSUs or earned KPI RSU value based on achievement of a 1.5x Company Performance Multiplier as further described in the section titled “Compensation Discussion and Analysis — 2025 Executive Compensation Program — Equity-Based Incentive Compensation — KPI RSU Awards.” |
Option Awards | Stock Awards | ||||||||||||||||||||||||||
Name | Grant Date(1) | Number of Securities Underlying Unexercised Options exercisable (#) | Number of Securities Underlying Unexercised Options Unexercisable (#) | Option Exercise Price ($) | Option Expiration Date | Number of Shares or Units of Stock That Have Not Vested (#) | Market Value of Shares or Units of Stock That Have Not Vested ($)(2) | Equity Incentive Plan Awards: Number of Unearned Shares, Units or Other Rights That Have Not Vested (#) | Equity Incentive Plan Awards: Market or Payout Value of Unearned Shares, Units or Other Rights That Have Not Vested ($)(2) | ||||||||||||||||||
George Arison | 10/14/2022 | — | — | — | — | 1,500,000(3) | 20,310,000 | — | — | ||||||||||||||||||
4/21/2025 | — | — | — | — | 240,069(4) | 3,250,534 | — | — | |||||||||||||||||||
11/30/2025 | — | — | — | — | — | — | 1,477,105(5) | 20,000,000 | |||||||||||||||||||
11/30/2025 | — | — | — | — | — | — | 2,215,657(5) | 30,000,000 | |||||||||||||||||||
11/30/2025 | — | — | — | — | 2,250,000(6) | 30,465,000 | — | — | |||||||||||||||||||
John North | 10/1/2025 | — | — | — | — | 730,000(7) | 9,884,200 | — | — | ||||||||||||||||||
11/30/2025 | — | — | — | — | — | — | 44,313(5) | 600,000 | |||||||||||||||||||
11/30/2025 | — | — | — | — | — | — | 553,914(5) | 7,500,000 | |||||||||||||||||||
11/30/2025 | — | — | — | — | — | — | 812,408(5) | 11,000,000 | |||||||||||||||||||
11/30/2025 | — | — | — | — | 18,002(4) | 243,747 | — | — | |||||||||||||||||||
Austin “AJ” Balance | 12/7/2021 | 39,457(8) | — | $4.20 | 12/3/2028 | — | — | — | — | ||||||||||||||||||
11/29/2023 | — | — | — | — | 225,056(9) | 3,047,258 | — | — | |||||||||||||||||||
10/9/2024 | 200,000(12) | 2,708,000 | |||||||||||||||||||||||||
11/30/2025 | — | — | — | — | 37,220(4) | 503,959 | — | — | |||||||||||||||||||
11/30/2025 | — | — | — | — | — | — | 369,276(5) | 5,000,000 | |||||||||||||||||||
11/30/2025 | — | — | — | — | — | — | 200,000(5) | 2,708,000 | |||||||||||||||||||
11/30/2025 | — | — | — | — | 425,000(10) | 5,754,500 | — | — | |||||||||||||||||||
11/30/2025 | — | — | — | — | — | — | 20,000(14) | 270,800 | |||||||||||||||||||
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Option Awards | Stock Awards | ||||||||||||||||||||||||||
Name | Grant Date(1) | Number of Securities Underlying Unexercised Options exercisable (#) | Number of Securities Underlying Unexercised Options Unexercisable (#) | Option Exercise Price ($) | Option Expiration Date | Number of Shares or Units of Stock That Have Not Vested (#) | Market Value of Shares or Units of Stock That Have Not Vested ($)(2) | Equity Incentive Plan Awards: Number of Unearned Shares, Units or Other Rights That Have Not Vested (#) | Equity Incentive Plan Awards: Market or Payout Value of Unearned Shares, Units or Other Rights That Have Not Vested ($)(2) | ||||||||||||||||||
Zachary Katz | 9/12/2023 | — | — | — | — | 186,000(11) | 2,518,440 | — | — | ||||||||||||||||||
11/11/2024 | — | — | — | — | 224,000(11) | 3,032,960 | — | — | |||||||||||||||||||
11/11/2025 | — | — | — | — | 270,000(12) | 3,655,880 | — | — | |||||||||||||||||||
11/30/2025 | — | — | — | — | — | — | 60,000(5) | 812,400 | |||||||||||||||||||
11/30/2025 | — | — | — | — | — | — | 60,000(5) | 812,400 | |||||||||||||||||||
11/30/2025 | — | — | — | — | 28,007(4) | 379,215 | — | — | |||||||||||||||||||
11/30/2025 | — | — | — | — | — | — | 15,000(14) | 203,100 | |||||||||||||||||||
Vandana Mehta-Krantz | 9/26/2022 | — | — | — | — | 194,400(5) | 2,632,176 | — | — | ||||||||||||||||||
12/1/2023 | — | — | — | — | 136,266(5) | 1,845,042 | — | — | |||||||||||||||||||
4/21/2025 | — | — | — | — | — | — | 58,417(4) | 790,966 | |||||||||||||||||||
(1) | Reflects the grant date determined in accordance with FASB ASC Topic 718. |
(2) | The dollar amount equals the number of shares subject to the applicable award times $13.54, the closing price of a share of common stock at the end of the last completed fiscal year. |
(3) | Represents remaining unvested time-based RSUs that vest over a four-year period that vest in equal semi-annual installments on April 14 and October 14 of each year, provided that Mr. Arison remains in continuous service with us through each vesting date. |
(4) | Represent fully-vested Final Earned KPI RSUs, as described in further detail in the section titled “Compensation Discussion and Analysis — 2025 Executive Compensation Program — Equity-Based Incentive Compensation — KPI RSU Awards.” |
(5) | Represents a market capitalization award arrangement with the named executive officer. For further information on this arrangement, please refer to the section titled “Compensation Discussion and Analysis — 2025 Executive Compensation Program — Equity-Based Incentive Compensation — Market Condition PSU Awards.” |
(6) | Represents Mr. Arison’s refresh RSU award, which was granted contingent upon stockholder approval at the Annual Meeting of an amendment to increase the share reserve under our 2022 Plan, as set forth in Proposal 3 to this proxy statement. These RSUs will have a vesting commencement date of October 19, 2027, the fifth anniversary of Mr. Arison’s employment start date, and will vest in six equal installments every six months thereafter, with the final such vesting date occurring on October 19, 2030, subject to Mr. Arison’s continued employment through each applicable vesting date. For further information on this award, please refer to the section titled “Compensation Discussion and Analysis — 2025 Executive Compensation Program — Equity-Based Incentive Compensation — Time-Based RSU Awards.” |
(7) | Represents remaining unvested time-based RSUs that vest over a five-year period, with 110,000 RSUs to be vested on October 1, 2026 and October 1, 2027; 150,000 RSUs to be vested on October 1, 2028; and, 180,000 RSUs to be vested on October 1, 2029 and October 1, 2030, provided that Mr. North remains in continuous service with us through each vesting date. |
(8) | The shares subject to the option are fully vested. |
(9) | Represents the remaining unvested RSUs that vest over approximately a five-year period, with 10% vesting on December 1, 2024, and the remaining amount vesting in substantially equal annual installments over the next four years, provided that the named executive officer remains in continuous service with us through each vesting date. |
(10) | Represents the remaining unvested RSUs that vest over approximately a five-year period, with 20% vesting on December 1, 2026, and the remaining amount vesting in substantially equal annual installments over the next four years, provided that the named executive officer remains in continuous service with us through each vesting date. |
(11) | Represents the remaining unvested RSUs that vest over approximately a five-year period, with 20% vesting on September 12, 2024, and the remaining amount vesting in substantially equal annual installments over the next four years, provided that the named executive officer remains in continuous service with us through each vesting date. |
(12) | Represents the remaining unvested RSUs that vest over approximately a five-year period, with 20% vesting on November 11, 2025, and the remaining amount vesting in substantially equal annual installments over the next four years, provided that the named executive officer remains in continuous service with us through each vesting date. |
(13) | Represents the remaining unvested RSUs that vest over approximately a five-year period, with 20% vesting on November 11, 2026, and the remaining amount vesting in substantially equal annual installments over the next four years, provided that the named executive officer remains in continuous service with us through each vesting date. |
(14) | Represents the stock price PSU awards, as described in further detail in the section titled “Compensation Discussion and Analysis – 2025 Executive Compensation Program – Equity-Based Incentive Compensation – Stock Price PSU Awards.” |
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Option Awards | Stock Awards | |||||||||||
Name (a) | Number of Shares Acquired on Exercise (#) (b) | Value Realized on Exercise ($) (c)(1) | Number of Shares Acquired on Vesting (#) (d) | Value Realized on Vesting ($) (e)(2) | ||||||||
George Arison | — | — | 926,159 | 14,254,547 | ||||||||
John North | — | — | — | — | ||||||||
Austin “AJ” Balance | 65,663 | 1,002,034 | 243,611 | 4,444,199 | ||||||||
Zachary Katz | — | — | 215,667 | 3,834,261 | ||||||||
Vandana Mehta-Krantz | — | — | 398,109 | 7,036,470 | ||||||||
(1) | The value realized on vesting is based on the number of shares of our common stock acquired upon exercise of stock option awards multiplied by the closing market price of our common stock on the exercise date minus the exercise price, and does not represent the actual amounts received by our named executive officers as a result of the exercise. |
(2) | The value realized on vesting is based on the number of shares of our common stock underlying the restricted stock units that vested multiplied by the closing market price of our common stock on the vesting date, and does not represent the actual amounts received by our named executive officers as a result of the restricted stock unit awards vesting. |
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Name | Type of Payment | Disability | Death | Voluntary Termination / Retirement | Termination without Cause or for Good Reason (absent a Change in Control)(1) | Termination without Cause or for Good Reason in Connection with Change in Control(2) | Termination in Connection with a Qualifying CIC(3) | Change in Control (No Termination) | ||||||||||||||||
George Arison | Salary | — | — | — | $2,000,000 | $2,000,000 | $2,000,000 | — | ||||||||||||||||
Bonus | — | — | — | $2,000,000 | $2,000,000 | $2,000,000 | — | |||||||||||||||||
Health Care Benefits | — | — | — | — | — | — | — | |||||||||||||||||
Stock Options | — | — | — | — | — | — | — | |||||||||||||||||
Restricted Stock/RSUs | — | — | — | $30,465,000 | $30,465,000 | $30,465,000 | — | |||||||||||||||||
KPI | — | — | — | $3,000,000 | $3,000,000 | $3,000,000 | — | |||||||||||||||||
Market Condition Award (PSU) | — | — | — | —(5) | —(5) | —(5) | —(5) | |||||||||||||||||
John North | Salary | — | — | — | $175,000 | $175,000 | $175,000 | — | ||||||||||||||||
Bonus | $43,750 | $43,750 | — | $43,750 | $65,625 | $65,625 | — | |||||||||||||||||
Health Care Benefits | — | — | — | $22,000 | $22,000 | $22,000 | — | |||||||||||||||||
Stock Options | — | — | — | — | — | — | — | |||||||||||||||||
Restricted Stock/RSUs | — | — | — | $2,978,800 | $9,884,200 | $9,884,200 | — | |||||||||||||||||
KPI | — | — | — | $175,000 | $175,000 | $175,000 | — | |||||||||||||||||
Market Condition Award (PSU) | — | — | — | —(5) | —(5) | —(5) | —(5) | |||||||||||||||||
Austin “AJ” Balance | Salary | — | — | — | $410,000 | $410,000 | $410,000 | — | ||||||||||||||||
Bonus | $225,500 | $225,500 | — | $225,500 | $338,250 | $338,250 | — | |||||||||||||||||
Health Care Benefits | — | — | — | $14,000 | $14,000 | $14,000 | — | |||||||||||||||||
Stock Options | — | — | — | — | — | — | — | |||||||||||||||||
Restricted Stock/RSUs | — | — | — | $4,333,315 | $11,509,758 | $11,509,758 | — | |||||||||||||||||
KPI | — | — | — | $465,000 | $465,000 | $465000 | — | |||||||||||||||||
Market Condition Award (PSU) | — | — | — | —(5) | —(5) | —(5) | —(5) | |||||||||||||||||
Zachary Katz | Salary | — | — | — | $330,000 | $330,000 | $330,000 | — | ||||||||||||||||
Bonus | $220,000 | $220,000 | — | $220,000 | $330,000 | $330,000 | — | |||||||||||||||||
Health Care Benefits | — | — | — | $32,000 | $32,000 | $32,000 | — | |||||||||||||||||
Stock Options | — | — | — | — | — | — | — | |||||||||||||||||
Restricted Stock/RSUs | — | — | — | $4,657,760 | $9,207,200 | $9,207,200 | — | |||||||||||||||||
KPI | — | — | — | $350,000 | $350,000 | $350,000 | — | |||||||||||||||||
Market Condition Award (PSU) | — | — | — | —(5) | —(5) | —(5) | —(5) | |||||||||||||||||
(1) | See “—Termination without Cause or for Good Reason (Non-Change in Control)” above for more details. |
(2) | Amounts reported in this column are paid upon a termination within the 12-month period following a change in control. See “—Termination without Cause or for Good Reason (Within CIC Period)” above for more details. |
(3) | Amounts reported in this column are paid upon a “change in control” (as defined in each named executive officer’s respective employment agreement or offer letter) and/or a Qualifying CIC. See “—Change in Control (With or Without Qualifying Termination)” above for more details. |
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(4) | The dollar amount equals the number of shares subject to the applicable award times $13.54, the closing price of a share of common stock at the end of the last completed fiscal year. |
(5) | The amount reported in this row does not include any value with respect to the acceleration of outstanding Market Condition Awards, for which the applicable performance conditions would not have been satisfied assuming a termination of any type described in this table as of December 31, 2025. |
PAY VERSUS PERFORMANCE | ||||||||||||||||||||||||
Year | Summary Compensation Table Total for PEO(1)(2) ($) | Compensation Actually Paid to PEO(1)(3) ($) | Average Summary Compensation Table Total for Non-PEO NEOs(1)(2) ($) | Average Compensation Actually Paid to Non-PEO NEOs(1)(3) ($) | Value of Initial Fixed $100 Investment Based On: | Net Income (Loss) (millions)(5) ($) | Adjusted EBITDA (millions) ($)(6) | |||||||||||||||||
Total Shareholder Return(4) ($) | Peer Group Total Shareholder Return(4) ($) | |||||||||||||||||||||||
2025 | $ | $ | $ | $ | ||||||||||||||||||||
2024 | $ | $ | ($ | $ | ||||||||||||||||||||
2023 | $ | $ | ($ | $ | ||||||||||||||||||||
(1) | The following individuals are our PEO and other non-PEO NEOs for each fiscal year: |
Year | PEO | Non-PEO NEOs | ||||
2025 | John North Austin “AJ” Balance Zachary Katz Vandana Mehta-Krantz | |||||
2024 | Austin “AJ” Balance Zachary Katz | |||||
2023 | Vandana Mehta-Krantz Austin “AJ” Balance | |||||
(2) | Represents the amount of total compensation reported for George Arison (our Chief Executive Officer) and the average total compensation for our non-PEO NEOs for each corresponding year in the “Total” column of the Summary Compensation Table. Refer to “Executive Compensation — Summary Compensation Table.” |
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(3) | Represents the amount of CAP to George Arison and the average amount of CAP to our Non-PEO NEOs, respectively, as computed in accordance with Item 402(v) of Regulation S-K. The dollar amounts do not reflect the actual amount of compensation earned by or paid to our NEOs during the applicable year. In accordance with the requirements of Item 402(v) of Regulation S-K, the following adjustments were made to the reported total compensation for each year to determine the CAP: |
Year | NEOs | Summary Compensation Table (“SCT”) Total Compensation | Deduct: Grant Date Fair Value of the “Stock Awards” and “Option Awards” Columns in the SCT for Applicable FY* | Add: Fair Value at Applicable FY End of Awards Granted during Applicable FY that Remain Unvested as of Applicable FY End* | Add: Change in Fair Value from the end of the Prior FY to the end of the Applicable FY of Awards Granted during Prior FY that were Outstanding and Unvested as of Applicable FY End* | Add: Vesting Date Fair Value of Awards Granted in Applicable FY that Vested During Applicable FY* | Add: Change in Fair Value from the end of the Prior FY to the Vesting Date of Awards Granted during Prior FY that Vested During Applicable FY* | Deduct: Fair Value at Prior Year End of Awards Granted during Prior FY that were Forfeited during Applicable FY* | Add: Dividends or Other Earnings Paid during Applicable FY prior to Vesting Date* | CAP | ||||||||||||||||||||
2025 | PEO | $ | $ | $ | ($ | $ | ($ | $ | ||||||||||||||||||||||
Average Non-PEO NEOs | $ | $ | $ | ($ | $ | $ | $ | |||||||||||||||||||||||
2024 | PEO | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||
Average Non-PEO NEOs | $ | $ | $ | $ | | $ | $ | |||||||||||||||||||||||
2023 | PEO | $ | $ | $ | $ | $ | ||||||||||||||||||||||||
Average Non-PEO NEOs | $ | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||
* | The valuation assumptions used to calculate fair values did not materially differ from those disclosed at the time of grant. |
(4) | For the relevant fiscal year, represents the cumulative TSR of our common stock and the NASDAQ CTA Internet Index at the end of each fiscal year. In each case, assume an initial investment of $100 on December 31, 2022. |
(5) | The dollar amounts reported represent the amount of net income (loss) reflected in the Company’s audited financial statements for the applicable year. |
(6) | As required by Item 402(v) of Regulation S-K, we have determined that |
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Plan Category | (a) Number of Securities to be Issued Upon Exercise of Outstanding Options, Warrants and Rights(1) | (b) Weighted Average Exercise Price of Outstanding Options ($) | (c) Number of Securities Remaining Available for Future Issuance Under Equity Compensation Plans (Excluding Securities Reflected in Column (a))(2) | ||||||
Equity compensation plans approved by stockholders | 8,298,652(3) | $4.86(4) | 4,763,917 | ||||||
Equity compensation plans not approved by stockholders(5) | — | — | — | ||||||
Total | 8,298,652 | 4,763,917 | |||||||
(1) | Includes the 2022 Plan and the Grindr Group LLC Amended and Restated 2020 Equity Incentive Plan. For further detail on our equity compensation plans, please see Note 13 “Stock-Based Compensation” to the financial statements included in the 2024 Form 10-K. |
(2) | Consists only of securities available under the 2022 Plan. |
(3) | Includes 7,983,629 shares subject to outstanding RSUs. |
(4) | The weighted average exercise price relates solely to outstanding stock option shares because shares subject to RSUs have no exercise price. |
(5) | We do not have equity compensation plans not approved by our stockholders. |
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• | each person who is the beneficial owner of more than 5% of common stock; |
• | each person who is a named executive officer or director of the Company; and |
• | all executive officers, directors and director nominees of the Company, as a group. |
Name and Address of Beneficial Owner(1) | Number of Shares of Common Stock | Percentage of Shares of Common Stock | ||||
5% Holders | ||||||
Jeremy Leonard Brest(2) | 11,706,404 | 6.6% | ||||
James Fu Bin Lu(3) | 18,436,556 | 10.4% | ||||
Directors, Director Nominees and Executive Officers | ||||||
George Arison(4) | 783,568 | * | ||||
John North | 13,617 | * | ||||
Austin “AJ” Balance | 121,253 | * | ||||
Zachary Katz | 69,094 | * | ||||
Raymond Zage, III(5) | 95,425,123 | 53.8% | ||||
J. Michael Gearon, Jr.(6) | 11,582,042 | 6.5% | ||||
Daniel Brooks Baer(7) | 32,614 | * | ||||
Meghan Stabler(8) | 37,988 | * | ||||
Nathan Richardson(9) | 9,833 | * | ||||
Chad Cohen(10) | 10,954 | * | ||||
Lisa Gersh | — | — | ||||
Fadi Hanna | — | — | ||||
Rob Solomon | — | — | ||||
All Company directors, director nominees, and executive officers as a group (13 individuals) | 108,086,086 | 60.9% | ||||
(1) | Unless otherwise noted, the business address of each of those listed in the table above is c/o Grindr Inc., 750 N. San Vicente Blvd Ste RE 1400, West Hollywood, CA 90069. |
(2) | Based on a Schedule 13D/A filed with the SEC by Mr. Brest on March 25, 2026. The business address for Mr. Brest is Ocean Financial Centre, Level 40, 10 Collyer Quay, Singapore, U0, 049315. 10,206,404 shares of common stock beneficially owned by Mr. Brest have been pledged as collateral in connection with market standard margin loans from financial institutions. |
(3) | Based on a Schedule 13G filed with the SEC by Mr. Lu on February 27, 2026, as updated based on additional information as of April 9, 2026, available to the Company. Consists of shares of common stock held by Longview Grindr Holdings Limited, a British Virgin Islands company (“Longview Grindr”). Longview Grindr is 100% owned by Longview Capital Holdings LLC (“Longview”), which is 100% owned by Mr. Lu. Mr. Lu and Longview may be deemed to have the right to exercise voting and investment power over the shares held by Longview Grindr. Mr. Lu and Longview each disclaim any beneficial ownership of the securities held by Longview Grindr other than to the extent of any pecuniary interest he may have therein, directly or indirectly. The business address for Mr. Lu, Longview Grindr, and Longview is 428 East Street Ste E, Grinnell, IA 50112. |
(4) | Consists of (i) 236,068 shares of common stock held by Mr. Arison; (ii) 22,500 shares of common stock held by the George Arison 2024 GRAT; (iii) 150,000 shares of common stock held by the George Arison 2026 GRAT; and (iv) 375,000 shares issuable under outstanding RSUs held by Mr. Arison vesting on or before June 8, 2026. |
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(5) | Consists of (i) 85,926,333 shares of common stock held by Tiga Investments Eighty-Eight Pte. Ltd., a Singapore limited liability company (“Tiga 88”); (ii) 1,385,507 shares of common stock held by Big Timber Holdings, LLC, a Nevis limited liability company (“Big Timber”); (iii) 8,109,949 shares of common stock held by Mr. Zage; and (iv) 3,334 shares issuable under outstanding RSUs held by Mr. Zage vesting on or before June 8, 2026. Each of Tiga 88 and Big Timber are 100% controlled by Mr. Zage. Mr. Zage disclaims any beneficial ownership of the securities held by Tiga 88 and Big Timber other than to the extent of any pecuniary interest he may have therein, directly or indirectly. Tiga 88 has pledged 85,926,333 shares of common stock to certain lenders in connection with a financing arrangement. In addition to the shares pledged in connection with the financing arrangement, the remainder of the shares of our common stock held by Mr. Zage are held in margin accounts or pursuant to other similar arrangements and are included as collateral among a diversified pool of assets in connection with market-standard margin loan arrangements that may be drawn upon by Mr. Zage from time to time. In connection with certain litigation styled Fellows v. G. Raymond Zage, III, et al., C.A. No. 2025-0477-PAF (Del. Ch.), Mr. Zage submitted an affidavit confirming that he will refrain from voting shares in excess of the voting percentage he held prior to the commencement of the Repurchase Program, as described herein under Certain Relationships and Related Person Transactions—Repurchase Program, which voting power is equivalent to approximately 44.9% of voting power of the Company’s outstanding common stock, without providing the court and plaintiff to such litigation with 30 days’ written notice. The business address for Mr. Zage, Tiga 88 and Big Timber is Ocean Financial Centre, Level 40, 10 Collyer Quay, Singapore, U0, 049315. |
(6) | Consists of (i) 6,090,959 shares of common stock held by The 1997 Gearon Family Trust; (ii) 5,480,568 shares of common stock held by the J. Michael Gearon, Jr. Revocable Trust; (iii) 6,896 shares of common stock held by Mr. Gearon; and (iv) 3,619 shares issuable under outstanding RSUs held by Mr. Gearon vesting on or before June 8, 2026. Mr. Gearon disclaims any beneficial ownership of the securities held by The 1997 Gearon Family Trust other than to the extent of any pecuniary interest he may have therein, directly or indirectly. The business address for Mr. Gearon, the J. Michael Gearon, Jr. Revocable Trust, and The 1997 Gearon Family Trust is 3350 Riverwood Parkway, Suite 425, Atlanta, GA 30339. |
(7) | Includes 3,819 shares issuable under outstanding RSUs vesting on or before June 8, 2026. |
(8) | Includes 4,147 shares issuable under outstanding RSUs vesting on or before June 8, 2026. |
(9) | Includes 4,095 shares issuable under outstanding RSUs vesting on or before June 8, 2026. |
(10) | Includes 4,814 shares issuable under outstanding RSUs vesting on or before June 8, 2026. |
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• | the risk, cost and benefits to us; |
• | the impact on a director’s independence in the event the related person is a director, immediate family member of a director, or an entity with which a director is affiliated; |
• | the terms of the transaction; |
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• | the terms available to or from, as the case may be, unrelated third parties or to or from employees generally; and |
• | the availability of other sources for comparable services or products. |
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• | Two Form 4s for G. Raymond Zage III reporting the exercise of a derivative security was not reported on a timely basis; |
• | One Form 4 for J. Michael Gearon, Jr. was amended to include a disposition that was inadvertently omitted from the reporting person’s prior Form 4; |
• | One Form 4 for each of George Arison, AJ Balance, Zachary Katz, Daniel Weinstein, and Vandana Mehta-Krantz, as a result of which the receipt of one restricted stock unit award by each of Messrs. Arison, Balance, Katz, and Weinstein, and Ms. Mehta-Krantz, respectively, was not reported on a timely basis; |
• | One Form 4 for George Arison, as a result of which the withholding of shares of common stock that vested but were not issued in order to satisfy Mr. Arison’s tax withholding obligation was not reported on a timely basis; and |
• | One Form 4 for each of James Fu Bin Lu and Nathan Richardson reporting the disposition of shares by each of Messrs. Lu and Richardson was not reported on a timely basis. |
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By order of the Board of Directors, | |||
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Zachary Katz Chief Legal Officer, General Counsel & Head of Global Affairs West Hollywood, California April 30, 2026 | |||
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1. | GENERAL. |
2. | SHARES SUBJECT TO THE PLAN. |
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3. | ELIGIBILITY AND LIMITATIONS. |
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4. | OPTIONS AND STOCK APPRECIATION RIGHTS. |
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5. | AWARDS OTHER THAN OPTIONS AND STOCK APPRECIATION RIGHTS. |
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6. | ADJUSTMENTS UPON CHANGES IN COMMON STOCK; OTHER CORPORATE EVENTS. |
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7. | ADMINISTRATION. |
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8. | TAX WITHHOLDING |
9. | MISCELLANEOUS. |
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10. | COVENANTS OF THE COMPANY. |
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11. | ADDITIONAL RULES FOR AWARDS SUBJECT TO SECTION 409A. |
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12. | SEVERABILITY. |
13. | TERMINATION OF THE PLAN. |
14. | DEFINITIONS. |
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