Grindr Inc.
11/15/2024 | Press release | Distributed by Public on 11/15/2024 15:09
Management Change/Compensation Form 8 K
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Departure of Chief Accounting Officer
On November 11, 2024, Kye Chen and Grindr Inc. (the "Company") announced that her final day as Chief Accounting Officer of the Company would be November 25, 2024.
Appointment of Chief Accounting Officer
Daniel I. Weinstein will be joining the Company as its Chief Accounting Officer, effective November 26, 2024. Prior to joining the Company, Mr. Weinstein, age 48, served as the Chief Accounting Officer of BuzzFeed, Inc. (Nasdaq: BZFD), a premier digital media company, since November 2022. Prior to BuzzFeed, Mr. Weinstein held progressive accounting leadership roles, including Senior Director, Accounting and Reporting, at MongoDB, Inc. (Nasdaq: MDB), a leading, modern, general purpose database company, from September 2017 to October 2022. Mr. Weinstein received his B.A. in music history, literature, and theory at the University of Pennsylvania; received his M.B.A from the Zicklin School of Business at Baruch College; and is a Certified Public Accountant and Chartered Global Management Accountant.
Mr. Weinstein has no family relationships with any director or executive officer of the Company. There are no arrangements or understandings between Mr. Weinstein and any other persons pursuant to which he was selected as an officer of the Company, and there are no transactions in which Mr. Weinstein has an interest requiring disclosure under Item 404(a) of Regulation S-K.
Mr. Weinstein's offer letter provides for "at will" employment. Pursuant to the terms of his offer letter, Mr. Weinstein is entitled to an annual base salary of $350,000 and an annual target bonus equal to 35% of his base salary. Pursuant to the offer letter and subject to approval by the Compensation Committee of the Board of Directors of the Company, Mr. Weinstein is expected to receive a grant of restricted stock units with respect to shares of the Company's common stock valued at $1,100,000, with 25% vesting on the first anniversary of the Mr. Weinstein's start date and the remaining amount vesting in equal quarterly installments over the following three years. In connection with Mr. Weinstein's appointment, he is expected to enter into the Company's standard form of indemnification agreement. Pursuant to the terms of the indemnification agreement, the Company may be required, among other things, to indemnify Mr. Weinstein for certain expenses, including attorneys' fees, judgments, fines and settlement amounts incurred by him in any action or proceeding arising out of his service as an officer of the Company.