Business Context and Reporting Period
This Form 8-K filing by Grindr Inc. (GRND) reports on events occurring on November 11, 2024, regarding executive leadership changes within the finance department. The report was signed on November 15, 2024.
Key Financial Metrics
The filing does not provide financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity. The document focuses exclusively on personnel changes and associated compensation arrangements.
Material Changes
- Departure: Kye Chen is departing as Chief Accounting Officer, with her final day scheduled for November 25, 2024.
- Appointment: Daniel I. Weinstein has been appointed as the new Chief Accounting Officer, effective November 26, 2024.
- Background: Mr. Weinstein previously served as Chief Accounting Officer at BuzzFeed, Inc. (since 2022) and held senior accounting roles at MongoDB, Inc.
Compensation and Management Commentary
Mr. Weinstein's employment is "at will." His compensation package includes:
- Base Salary: $350,000 annually.
- Target Bonus: 35% of base salary.
- Equity Grant: Restricted stock units (RSUs) valued at $1,100,000, subject to Compensation Committee approval. Vesting is 25% on the first anniversary of the start date, with the remainder vesting in equal quarterly installments over the following three years.
- Indemnification: Mr. Weinstein will enter into the Company's standard indemnification agreement covering legal expenses, judgments, fines, and settlements arising from his service.
The filing states there are no family relationships between Mr. Weinstein and any director or executive officer, and no undisclosed transactions requiring disclosure under Item 404(a) of Regulation S-K.
Investor Verification Checklist
- Confirm the effective date of the Chief Accounting Officer transition (November 26, 2024).
- Verify the approval status of the $1,100,000 RSU grant by the Compensation Committee.
- Review the standard indemnification agreement terms for potential liability exposure.
- Monitor future filings for any financial reporting delays or restatements associated with the leadership transition.