[DEF 14A] Grindr Inc. Definitive Proxy Statement
Grindr has announced its 2025 Annual Meeting of Stockholders to be held virtually on July 30, 2025, at 4:00 PM Pacific Time. Key agenda items include:
- Election of eight board directors, including new member Chad Cohen, who brings financial expertise in public company growth and governance
- Ratification of Ernst & Young LLP as independent auditor for FY2025
- Consideration of a stockholder proposal regarding adoption of a human rights policy covering freedom of association and collective bargaining
Notable governance changes include Chad Cohen joining the board, Gary Horowitz's departure, and Nathan Richardson stepping down as Audit Committee chair while remaining on the board. The company highlighted key risk factors including user retention, regulatory compliance, cybersecurity, AI/ML adoption, and macroeconomic challenges.
Stockholders of record as of June 4, 2025 are eligible to vote. The meeting will be accessible at www.virtualshareholdermeeting.com/GRND2025, with materials available at the company's investor relations website.
Grindr ha annunciato che la sua Assemblea Annuale degli Azionisti 2025 si terrà in modalità virtuale il 30 luglio 2025 alle 16:00 ora del Pacifico. I punti principali all'ordine del giorno includono:
- Elezione di otto membri del consiglio di amministrazione, incluso il nuovo membro Chad Cohen, che apporta competenze finanziarie nella crescita e governance di società quotate
- Ratifica di Ernst & Young LLP come revisore indipendente per l'esercizio fiscale 2025
- Esame di una proposta azionaria riguardante l'adozione di una politica sui diritti umani che copra la libertà di associazione e la contrattazione collettiva
Tra i cambiamenti di governance più rilevanti si segnalano l'ingresso di Chad Cohen nel consiglio, l'uscita di Gary Horowitz e la rinuncia di Nathan Richardson alla carica di presidente del Comitato di Revisione, pur rimanendo nel consiglio. L'azienda ha evidenziato fattori di rischio chiave quali la fidelizzazione degli utenti, la conformità normativa, la sicurezza informatica, l'adozione di AI/ML e le sfide macroeconomiche.
Gli azionisti registrati al 4 giugno 2025 avranno diritto di voto. L'assemblea sarà accessibile su www.virtualshareholdermeeting.com/GRND2025, con i materiali disponibili sul sito delle relazioni con gli investitori dell'azienda.
Grindr ha anunciado que su Reunión Anual de Accionistas 2025 se llevará a cabo de forma virtual el 30 de julio de 2025 a las 4:00 PM hora del Pacífico. Los puntos clave en la agenda incluyen:
- Elección de ocho directores de la junta, incluyendo al nuevo miembro Chad Cohen, quien aporta experiencia financiera en crecimiento corporativo y gobernanza
- Ratificación de Ernst & Young LLP como auditor independiente para el año fiscal 2025
- Consideración de una propuesta de accionistas sobre la adopción de una política de derechos humanos que cubra la libertad de asociación y negociación colectiva
Los cambios notables en la gobernanza incluyen la incorporación de Chad Cohen a la junta, la salida de Gary Horowitz y la renuncia de Nathan Richardson como presidente del Comité de Auditoría, aunque permanece en la junta. La empresa destacó factores clave de riesgo como la retención de usuarios, cumplimiento regulatorio, ciberseguridad, adopción de IA/ML y desafíos macroeconómicos.
Los accionistas registrados al 4 de junio de 2025 son elegibles para votar. La reunión será accesible en www.virtualshareholdermeeting.com/GRND2025, con materiales disponibles en el sitio web de relaciones con inversionistas de la empresa.
Grindr는 2025년 연례 주주총회를 2025년 7월 30일 오후 4시(태평양 시간)에 온라인으로 개최한다고 발표했습니다. 주요 안건은 다음과 같습니다:
- 공개 회사 성장 및 거버넌스에 대한 재무 전문성을 가진 신임 이사 Chad Cohen을 포함한 8명의 이사 선출
- 2025 회계연도 독립 감사인으로 Ernst & Young LLP 재선임
- 결사 및 단체 교섭의 자유를 포함하는 인권 정책 채택에 관한 주주 제안 검토
주요 거버넌스 변화로는 Chad Cohen의 이사회 합류, Gary Horowitz의 퇴임, Nathan Richardson가 감사위원회 의장직에서 물러나지만 이사회에는 남아 있는 점이 포함됩니다. 회사는 사용자 유지, 규제 준수, 사이버 보안, AI/ML 도입, 거시경제적 도전 등 주요 위험 요인을 강조했습니다.
2025년 6월 4일 기준 주주 명부에 등록된 주주만 투표 자격이 있습니다. 회의는 www.virtualshareholdermeeting.com/GRND2025에서 접속 가능하며, 자료는 회사 투자자 관계 웹사이트에서 확인할 수 있습니다.
Grindr a annoncé que son Assemblée Annuelle des Actionnaires 2025 se tiendra virtuellement le 30 juillet 2025 à 16h00 heure du Pacifique. Les points clés à l'ordre du jour comprennent :
- Élection de huit membres du conseil d'administration, dont le nouveau membre Chad Cohen, qui apporte une expertise financière en croissance et gouvernance d'entreprise cotée
- Ratification d'Ernst & Young LLP en tant qu'auditeur indépendant pour l'exercice 2025
- Examen d'une proposition d'actionnaires concernant l'adoption d'une politique de droits humains couvrant la liberté d'association et la négociation collective
Parmi les changements notables en gouvernance figurent l'arrivée de Chad Cohen au conseil, le départ de Gary Horowitz, et la démission de Nathan Richardson de la présidence du comité d'audit tout en restant membre du conseil. La société a souligné les principaux facteurs de risque, incluant la rétention des utilisateurs, la conformité réglementaire, la cybersécurité, l'adoption de l'IA/ML et les défis macroéconomiques.
Les actionnaires inscrits au 4 juin 2025 sont éligibles pour voter. La réunion sera accessible sur www.virtualshareholdermeeting.com/GRND2025, avec les documents disponibles sur le site des relations investisseurs de la société.
Grindr hat seine Jahreshauptversammlung 2025 angekündigt, die virtuell am 30. Juli 2025 um 16:00 Uhr Pazifikzeit stattfinden wird. Die wichtigsten Tagesordnungspunkte sind:
- Wahl von acht Vorstandsmitgliedern, darunter das neue Mitglied Chad Cohen, der finanzielle Expertise im Bereich Wachstum und Unternehmensführung börsennotierter Unternehmen mitbringt
- Bestätigung von Ernst & Young LLP als unabhängiger Wirtschaftsprüfer für das Geschäftsjahr 2025
- Beratung eines Aktionärsantrags zur Einführung einer Menschenrechtspolitik, die Vereinigungsfreiheit und Tarifverhandlungen umfasst
Bedeutende Änderungen in der Unternehmensführung umfassen den Beitritt von Chad Cohen zum Vorstand, den Austritt von Gary Horowitz und den Rücktritt von Nathan Richardson als Vorsitzender des Prüfungsausschusses, wobei er dem Vorstand erhalten bleibt. Das Unternehmen hob wesentliche Risikofaktoren hervor, darunter Nutzerbindung, regulatorische Compliance, Cybersicherheit, KI/ML-Einführung und makroökonomische Herausforderungen.
Aktionäre, die am 4. Juni 2025 im Aktienregister eingetragen sind, sind stimmberechtigt. Die Versammlung ist unter www.virtualshareholdermeeting.com/GRND2025 zugänglich, Materialien sind auf der Investor-Relations-Website des Unternehmens verfügbar.
- Addition of Chad Cohen to board of directors brings valuable financial expertise and public company governance experience
- Implementation of AI/ML initiatives with plans to deploy generative AI into products and services, showing technological advancement
- Strong corporate governance practices evidenced by independent board committees and comprehensive oversight structures
- Proactive approach to cybersecurity and privacy protection through dedicated oversight and compliance measures
- Stockholder proposal regarding human rights policy for freedom of association suggests potential labor relations concerns
- Significant concentration of stock ownership and voting power may limit other stockholders' influence on corporate matters
- Multiple regulatory compliance challenges highlighted, particularly regarding privacy, data protection, and online safety laws
- Exposure to competitive pressures in dating and social networking industry requiring continuous technological adaptation
Insights
Grindr's 2025 proxy reveals board changes, a contested human rights proposal, and continued evolution of governance structures as a public company.
Grindr's 2025 proxy statement reveals important governance developments that signal the company's continued maturation as a public entity. The addition of Chad Cohen to the board brings valuable financial expertise and public company experience that should strengthen Grindr's governance framework. This appointment, along with Nathan Richardson transitioning from Audit Committee chair while remaining on the board, represents thoughtful succession planning.
Of particular significance is the inclusion of a stockholder proposal regarding the adoption of a human rights policy covering freedom of association and collective bargaining. This proposal highlights growing shareholder activism around labor rights issues at Grindr. The company hasn't disclosed its recommendation on this proposal in the excerpt provided, but its presence suggests mounting pressure from stakeholders regarding employee rights.
The proxy also references an existing share repurchase program, indicating the company's focus on capital allocation and shareholder returns. Additionally, the board's risk oversight functions appear robust, with particular attention to privacy, data protection, cybersecurity, and the emerging use of AI/ML technologies in the company's operations - critical areas for a dating app handling sensitive user information.
The virtual-only meeting format continues, which can limit certain forms of shareholder engagement compared to in-person meetings but increases accessibility. Overall, Grindr's governance structure is evolving appropriately as it navigates the complexities of operating a public company in the sensitive dating app space.
Grindr faces shareholder activism on labor rights with a proposal for human rights policy covering collective bargaining.
The inclusion of a stockholder proposal requesting adoption of a human rights policy specifically covering freedom of association and collective bargaining rights represents a significant ESG development for Grindr. This proposal indicates emerging investor concern about labor practices and employee rights at the company - issues that are increasingly material for technology platforms.
The proposal's presence suggests Grindr may be facing internal labor organizing efforts or external pressure regarding worker rights. Freedom of association and collective bargaining are foundational labor rights under international frameworks including ILO conventions and the UN Guiding Principles on Business and Human Rights. For a company serving LGBTQ+ communities globally, how Grindr responds to this proposal carries reputational significance beyond just labor relations.
The proxy also references risk factors related to privacy, data protection, and online safety regulations - critical ESG concerns for dating applications. The company acknowledges emerging risks around AI/ML integration into its products, showing awareness of responsible technology deployment challenges.
Board diversity appears to be a focus, with a specific section dedicated to this topic, though the specific composition metrics aren't provided in this excerpt. For a company serving diverse communities, stakeholders will scrutinize whether leadership reflects the user base it serves.
How Grindr addresses this human rights proposal will be a meaningful signal of its commitment to social responsibility and stakeholder governance principles as it continues to evolve as a public company.
Grindr ha annunciato che la sua Assemblea Annuale degli Azionisti 2025 si terrà in modalità virtuale il 30 luglio 2025 alle 16:00 ora del Pacifico. I punti principali all'ordine del giorno includono:
- Elezione di otto membri del consiglio di amministrazione, incluso il nuovo membro Chad Cohen, che apporta competenze finanziarie nella crescita e governance di società quotate
- Ratifica di Ernst & Young LLP come revisore indipendente per l'esercizio fiscale 2025
- Esame di una proposta azionaria riguardante l'adozione di una politica sui diritti umani che copra la libertà di associazione e la contrattazione collettiva
Tra i cambiamenti di governance più rilevanti si segnalano l'ingresso di Chad Cohen nel consiglio, l'uscita di Gary Horowitz e la rinuncia di Nathan Richardson alla carica di presidente del Comitato di Revisione, pur rimanendo nel consiglio. L'azienda ha evidenziato fattori di rischio chiave quali la fidelizzazione degli utenti, la conformità normativa, la sicurezza informatica, l'adozione di AI/ML e le sfide macroeconomiche.
Gli azionisti registrati al 4 giugno 2025 avranno diritto di voto. L'assemblea sarà accessibile su www.virtualshareholdermeeting.com/GRND2025, con i materiali disponibili sul sito delle relazioni con gli investitori dell'azienda.
Grindr ha anunciado que su Reunión Anual de Accionistas 2025 se llevará a cabo de forma virtual el 30 de julio de 2025 a las 4:00 PM hora del Pacífico. Los puntos clave en la agenda incluyen:
- Elección de ocho directores de la junta, incluyendo al nuevo miembro Chad Cohen, quien aporta experiencia financiera en crecimiento corporativo y gobernanza
- Ratificación de Ernst & Young LLP como auditor independiente para el año fiscal 2025
- Consideración de una propuesta de accionistas sobre la adopción de una política de derechos humanos que cubra la libertad de asociación y negociación colectiva
Los cambios notables en la gobernanza incluyen la incorporación de Chad Cohen a la junta, la salida de Gary Horowitz y la renuncia de Nathan Richardson como presidente del Comité de Auditoría, aunque permanece en la junta. La empresa destacó factores clave de riesgo como la retención de usuarios, cumplimiento regulatorio, ciberseguridad, adopción de IA/ML y desafíos macroeconómicos.
Los accionistas registrados al 4 de junio de 2025 son elegibles para votar. La reunión será accesible en www.virtualshareholdermeeting.com/GRND2025, con materiales disponibles en el sitio web de relaciones con inversionistas de la empresa.
Grindr는 2025년 연례 주주총회를 2025년 7월 30일 오후 4시(태평양 시간)에 온라인으로 개최한다고 발표했습니다. 주요 안건은 다음과 같습니다:
- 공개 회사 성장 및 거버넌스에 대한 재무 전문성을 가진 신임 이사 Chad Cohen을 포함한 8명의 이사 선출
- 2025 회계연도 독립 감사인으로 Ernst & Young LLP 재선임
- 결사 및 단체 교섭의 자유를 포함하는 인권 정책 채택에 관한 주주 제안 검토
주요 거버넌스 변화로는 Chad Cohen의 이사회 합류, Gary Horowitz의 퇴임, Nathan Richardson가 감사위원회 의장직에서 물러나지만 이사회에는 남아 있는 점이 포함됩니다. 회사는 사용자 유지, 규제 준수, 사이버 보안, AI/ML 도입, 거시경제적 도전 등 주요 위험 요인을 강조했습니다.
2025년 6월 4일 기준 주주 명부에 등록된 주주만 투표 자격이 있습니다. 회의는 www.virtualshareholdermeeting.com/GRND2025에서 접속 가능하며, 자료는 회사 투자자 관계 웹사이트에서 확인할 수 있습니다.
Grindr a annoncé que son Assemblée Annuelle des Actionnaires 2025 se tiendra virtuellement le 30 juillet 2025 à 16h00 heure du Pacifique. Les points clés à l'ordre du jour comprennent :
- Élection de huit membres du conseil d'administration, dont le nouveau membre Chad Cohen, qui apporte une expertise financière en croissance et gouvernance d'entreprise cotée
- Ratification d'Ernst & Young LLP en tant qu'auditeur indépendant pour l'exercice 2025
- Examen d'une proposition d'actionnaires concernant l'adoption d'une politique de droits humains couvrant la liberté d'association et la négociation collective
Parmi les changements notables en gouvernance figurent l'arrivée de Chad Cohen au conseil, le départ de Gary Horowitz, et la démission de Nathan Richardson de la présidence du comité d'audit tout en restant membre du conseil. La société a souligné les principaux facteurs de risque, incluant la rétention des utilisateurs, la conformité réglementaire, la cybersécurité, l'adoption de l'IA/ML et les défis macroéconomiques.
Les actionnaires inscrits au 4 juin 2025 sont éligibles pour voter. La réunion sera accessible sur www.virtualshareholdermeeting.com/GRND2025, avec les documents disponibles sur le site des relations investisseurs de la société.
Grindr hat seine Jahreshauptversammlung 2025 angekündigt, die virtuell am 30. Juli 2025 um 16:00 Uhr Pazifikzeit stattfinden wird. Die wichtigsten Tagesordnungspunkte sind:
- Wahl von acht Vorstandsmitgliedern, darunter das neue Mitglied Chad Cohen, der finanzielle Expertise im Bereich Wachstum und Unternehmensführung börsennotierter Unternehmen mitbringt
- Bestätigung von Ernst & Young LLP als unabhängiger Wirtschaftsprüfer für das Geschäftsjahr 2025
- Beratung eines Aktionärsantrags zur Einführung einer Menschenrechtspolitik, die Vereinigungsfreiheit und Tarifverhandlungen umfasst
Bedeutende Änderungen in der Unternehmensführung umfassen den Beitritt von Chad Cohen zum Vorstand, den Austritt von Gary Horowitz und den Rücktritt von Nathan Richardson als Vorsitzender des Prüfungsausschusses, wobei er dem Vorstand erhalten bleibt. Das Unternehmen hob wesentliche Risikofaktoren hervor, darunter Nutzerbindung, regulatorische Compliance, Cybersicherheit, KI/ML-Einführung und makroökonomische Herausforderungen.
Aktionäre, die am 4. Juni 2025 im Aktienregister eingetragen sind, sind stimmberechtigt. Die Versammlung ist unter www.virtualshareholdermeeting.com/GRND2025 zugänglich, Materialien sind auf der Investor-Relations-Website des Unternehmens verfügbar.
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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’ eight 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, 2025; |
3. | To consider a stockholder proposal regarding adoption of a human rights policy covering freedom of association and collective bargaining, if properly presented at the Annual Meeting; and |
4. | 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 General Counsel and Secretary West Hollywood, California June 20, 2025 | |||
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Page | |||
QUESTIONS AND ANSWERS ABOUT THESE PROXY MATERIALS AND VOTING | 1 | ||
DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE | 8 | ||
Nominees for Director | 8 | ||
Board Diversity | 10 | ||
Board Leadership Structure | 11 | ||
Role of the Board of Directors in Risk Oversight | 11 | ||
Family Relationships | 12 | ||
Director Independence | 12 | ||
Board Meetings and Committees | 12 | ||
Committees of the Board of Directors | 13 | ||
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 | 17 | ||
Director Compensation | 17 | ||
PROPOSAL NO. 1 ELECTION OF DIRECTORS | 20 | ||
Nominees | 20 | ||
PROPOSAL NO. 2 RATIFICATION OF APPOINTMENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM | 21 | ||
Principal Accounting Fees and Services | 21 | ||
Auditor Independence | 21 | ||
Audit Committee Pre-Approval Policies and Procedures | 21 | ||
REPORT OF THE AUDIT COMMITTEE OF THE BOARD OF DIRECTORS | 22 | ||
PROPOSAL NO. 3 STOCKHOLDER PROPOSAL | 23 | ||
EXECUTIVE OFFICERS | 26 | ||
EXECUTIVE COMPENSATION | 27 | ||
Summary Compensation Table | 27 | ||
Narrative to Summary Compensation Table | 28 | ||
Outstanding Equity Awards as of December 31, 2024 | 31 | ||
Employment Arrangements with Executive Officers | 32 | ||
Executive Compensation | 35 | ||
Incentive Compensation Recoupment Policy | 35 | ||
Insider Trading Policy | 35 | ||
Hedging Policy | 35 | ||
Policies and Practices Related to the Grant of Certain Equity Awards Close in Time to the Release of Material Nonpublic Information | 35 | ||
Equity Compensation Plan Information | 36 | ||
SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS | 37 | ||
CERTAIN RELATIONSHIPS AND RELATED PERSON TRANSACTIONS | 39 | ||
Warrant Redemption and Warrant Exercises | 39 | ||
Amended and Restated Registration Rights Agreement | 39 | ||
Catapult Share Purchase and Promissory Note | 39 | ||
Indemnification Agreements | 40 | ||
Related-Person Transaction Policy | 40 | ||
HOUSEHOLDING OF ANNUAL MEETING MATERIALS | 40 | ||
DELINQUENT SECTION 16(A) REPORTS | 42 | ||
OTHER MATTERS | 43 | ||
Fiscal Year 2024 Annual Report and SEC Filings | 43 | ||
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• | our ability to retain existing users and add new users; |
• | the impact of the regulatory environment and complexities with compliance related to such environment, including maintaining compliance with privacy, data protection, and online safety laws and regulations, as well as laws that may apply to any new products or services we introduce 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 adopt generative artificial intelligence (“AI”) and machine learning (“ML”) processes and algorithms into our daily operations, including by deploying generative AI and ML into 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 timing, price and quantity of repurchases of shares of our common stock under our repurchase program, and our ability to fund any such repurchases; and |
• | 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. |
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• | Proposal No. 1: To elect the board of directors’ eight 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, 2025; |
• | Proposal No. 3: A stockholder proposal regarding adoption of a human rights policy covering freedom of association and collective bargaining (the “Stockholder Proposal”), if properly presented; and |
• | To transact such other business as may properly come before the Annual Meeting or any adjournments or postponements thereof. |
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• | “FOR” the election of the board of directors’ eight 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, 2025; and |
• | “AGAINST” the Stockholder Proposal. |
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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 eight 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. “Majority” means the number of shares voted “FOR” must exceed the number of votes “AGAINST.” 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 Stockholder Proposal 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. |
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• | 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 Notice or proxy card 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 Notice or proxy card 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. |
• | 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 | ||||
James Fu Bin Lu | 43 | Chairperson, Director | ||||
George Arison | 47 | Chief Executive Officer, Director | ||||
Daniel Brooks Baer | 48 | Director | ||||
Chad Cohen | 50 | Director | ||||
J. Michael Gearon, Jr. | 60 | Director | ||||
Nathan Richardson | 54 | Director | ||||
Meghan Stabler | 61 | Director | ||||
G. Raymond Zage, III | 55 | Director | ||||
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• | Presiding over meetings of the independent directors; |
• | Coordinating with the committee chairs regarding meeting agendas and informational requirements, and 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; |
• | Coordinating the activities of the other 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 board of directors and the Chief Executive Officer. |
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Name | Audit | Compensation | Nominating and Corporate Governance | Privacy and Trust | ||||||||
James Fu Bin Lu | X | X* | ||||||||||
George Arison | ||||||||||||
Daniel Brooks Baer | X* | |||||||||||
Chad Cohen(1) | X* | |||||||||||
J. Michael Gearon, Jr. | X* | X | ||||||||||
Nathan Richardson | X(1) | X | X | |||||||||
Meghan Stabler | X | X | ||||||||||
G. Raymond Zage, III | ||||||||||||
* | Committee chair |
(1) | Mr. Cohen was appointed to the board and as chair of the audit committee effective June 3, 2025. Mr. Richardson, the former chair of the audit committee, continues to serve as a member of the audit committee as of such date. |
• | 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; |
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• | 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. |
• | reviewing, overseeing, modifying and approving our overall compensation strategy and policies; |
• | reviewing and approving the compensation of the Chief Executive Officer; |
• | making recommendations to the board of directors regarding the compensation of our senior management and directors; |
• | 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. |
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• | 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 user trust and safety 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; |
• | discussing with management our compliance with applicable data use laws and any correspondence with regulators or governmental agencies that raise material issues; and |
• | 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. |
• | 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; |
• | 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 |
• | 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 Prior Policy. |
(3) | $9,000 under the Prior Policy. |
(4) | $4,000 under the Prior Policy. |
(5) | $5,000 under the Prior Policy. |
(6) | No additional annual cash compensation under the Prior Policy. |
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Position | Annual RSU Awards ($)(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 Prior Policy. |
(3) | $36,000 under the Prior Policy. |
(4) | $16,000 under the Prior Policy. |
(5) | $20,000 under the Prior Policy. |
(6) | No additional annual awards of RSUs under the Prior Policy. |
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Name | Fees Earned or Paid in Cash ($)(1) | Stock Awards ($)(2)(3) | Total ($) | ||||||
James Fu Bin Lu | 25,000 | 101,394 | 126,394 | ||||||
Daniel Brooks Baer(4) | 50,000 | 101,394 | 151,394 | ||||||
J. Michael Gearon, Jr. | 25,000 | 101,394 | 126,394 | ||||||
Gary I. Horowitz(4)(5) | 49,000 | 97,341 | 146,341 | ||||||
Maggie Lower(6) | 9,945 | — | 9,945 | ||||||
Nathan Richardson(4) | 54,000 | 117,618 | 171,618 | ||||||
Meghan Stabler(4) | 49,000 | 97,341 | 146,341 | ||||||
G. Raymond Zage, III | 20,000 | 81,117 | 101,117 | ||||||
(1) | Consist of annual retainer fees, as described above. |
(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 14. Stock-based Compensation to the Consolidated Financial Statements included in the 2024 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, 2024, 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 | 6,567 | ||
Daniel Brooks Baer | 6,567 | ||
J. Michael Gearon, Jr. | 6,305 | ||
Gary I. Horowitz | 6,567 | ||
Nathan Richardson | 7,618 | ||
Meghan Stabler | 6,305 | ||
G. Raymond Zage, III | 5,254 | ||
(4) | In connection with consideration of the redemption of the Company’s outstanding warrants, which was completed on February 24, 2025, and discussed in the 2024 Form 10-K, a special committee of the board of directors was formed to consider the redemption. Messrs. Baer, Horowitz, and Richardson, and Ms. Stabler were the members of this special committee. On October 24, 2024, following a recommendation by our compensation committee, our board of directors approved additional compensation of $25,000 in cash for members of this special committee. |
(5) | Gary I. Horowitz served on our board of directors until June 3, 2025. |
(6) | Maggie Lower served on our board of directors until July 19, 2024. |
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Fiscal Year Ended | ||||||
(in thousands) | 2024 | 2023 | ||||
Audit Fees(1) | $2,437 | $2,751 | ||||
Audit-Related Fees(2) | 56 | — | ||||
Tax Fees | — | — | ||||
All Other Fees | — | — | ||||
Total Fees | $2,493 | $2,751 | ||||
(1) | Audit Fees in 2024 and 2023 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. |
(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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1 | International Labour Organization, “ILO Declaration on Fundamental Principles and Rights at Work,” 2022, https://www.ilo.org/ilo-declaration-fundamental-principles-and-rights-work; United Nations, “Universal Declaration of Human Rights,” 1948, https://www.un.org/en/about-us/universal-declaration-of-human-rights. |
2 | U.S. Department of Labor, “Freedom of Association and Collective Bargaining Rights are Essential to Codes of Conduct,” https://www.dol.gov/agencies/ilab/comply-chain/steps-to-a-social-compliance-system/step-3-develop-a-code-of-conduct/key-topic-freedom-of-association-and-collective-bargaining-rights-are-essential-to-codes-of-conduct. |
3 | Grindr Inc., “Code of Business Conduct and Ethics,” December 12, 2024, https://investors.grindr.com/governance/governance-documents/default.aspx. |
4 | Grindr Inc., “Anti-LGBTQ Laws Are Unacceptable,” March 16, 2023, https://www.grindr.com/blog/anti-lgbtq-laws-are-unacceptable. |
5 | Consolidated Complaint, Grindr LLC, 31-CA-323349, November 1, 2024, https://www.nlrb.gov/case/31-CA-323349. |
6 | Josh Eidelson, “Grindr Illegally Used RTO to Thwart Union, Forcing Out Half of Staff, US Labor Board Alleges,” Bloomberg, November 4, 2024, https://beta.bnnbloomberg.ca/business/ |
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• | Scaled an innovative strategy to fight the HIV epidemic by enabling Grindr users to order free HIV self-test kits by connecting them directly to our self-testing partner organizations through the app, which has resulted in the distribution of hundreds of thousands of kits globally, many of which were sent to Grindr users who reported they had never previously tested for HIV. |
• | Provides in-app access to sexual health and safety resources for our users in more than 60 countries around the world, enabling millions of our users to access sexual health and safety resources directly through a side drawer on the Grindr app’s home screen, gaining localized and real-time information on the issues that matter to them. |
• | Supports numerous marriage equality campaigns, including through its partnership with the Rainbow Sky Association of Thailand in advocating for marriage equality leading up to June 2024, when Thailand became the first Southeast Asian country to achieve marriage equality. |
• | Supports decriminalization campaigns, including in Namibia where the high court repealed a colonial-era law criminalizing same-sex conduct in June 2024. |
7 | Match Group Inc., “Match Group Human Rights Policy Commitment,” March 2024, https://s203.q4cdn.com/993464185/files/doc_downloads/2024/03/human-rights-policy-statement_march-2024.pdf. |
8 | Committee on Workers’ Capital, “Shared Prosperity: The Investor Case for Freedom of Association and Collective Bargaining,” November 2022, https://www.workerscapital.org/wp-content/uploads/2023/04/cwc_foa_cb_report.pdf; Trillium Asset Management, “The Investor Case for Supporting Worker Organizing Rights,” July 2022, https://www.trilliuminvest.com/whitepapers/the-investor-case-for-supporting-worker-organizing-rights. |
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Name | Age | Position | ||||
George Arison | 47 | Chief Executive Officer, Director | ||||
Vandana Mehta-Krantz | 57 | Chief Financial Officer | ||||
Austin “AJ” Balance | 38 | Chief Product Officer | ||||
Zachary Katz | 48 | General Counsel and Head of Global Affairs | ||||
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• | George Arison, Chief Executive Officer and director; |
• | Austin “AJ” Balance, Chief Product Officer; and |
• | Zachary Katz, General Counsel and Head of Global Affairs. |
Name and Principal Position | Year | Salary | Bonus | Stock Awards(1) | Non-Equity Incentive Plan Compensation(2) | All Other Compensation(3) | Total | ||||||||||||||
George Arison Chief Executive Officer | 2024 | $1,000,000 | $1,350,000(4) | $2,667,047(5) | $1,500,000 | $20,700 | $6,537,747 | ||||||||||||||
2023 | $1,000,000 | $846,000(6) | $2,350,073(7) | $1,300,000(6) | $22,500 | $5,518,573 | |||||||||||||||
Austin “AJ” Balance Chief Product Officer | 2024 | $410,000 | $260,325(8) | $5,254,676(9) | $338,250 | $2,747 | $6,265,998 | ||||||||||||||
2023 | $377,917 | $300,000(10) | $4,440,873(11) | $270,210(10) | $— | $5,389,000 | |||||||||||||||
Zachary Katz General Counsel & Head of Global Affairs | 2024 | $440,000 | $276,000(12) | $3,722,276(13) | $330,000 | $14,761 | $4,783,037 | ||||||||||||||
(1) | The amounts reported in this column do not reflect dollar amounts actually received by our named executive officers. Instead, these amounts reflect the grant date fair value of each RSU award granted (or deemed granted) during the fiscal year ended December 31, 2023 and 2024, 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 14 to the financial statements included in the 2024 Form 10-K. |
(2) | The amounts reported consist of standard bonus amounts earned based on the achievement of Company performance goals under the 2024 bonus plan framework approved by the compensation committee in March 2024 and under the 2023 bonus plan framework approved by the compensation committee in May 2023, as amended in December 2023. For further information, please refer to the sections titled “Narrative to Summary Compensation Table — Cash Bonuses and Non-Equity Incentive Plan Compensation.” |
(3) | The amounts reported consist of (a) company 401(k) matching contributions, including contributions of $14,064 for Mr. Katz in 2024; and (b) only with respect to Messrs. Balance and Katz, tax gross-up payments made in connection with a company-wide cash bonus payment of $1,000 received by each of them in 2024. |
(4) | The amount reported includes a $1,350,000 incremental cash bonus awarded by the compensation committee in March 2025 based on individual performance during fiscal year 2024. For further information, please refer to the section titled “Narrative to Summary Compensation Table — Cash Bonuses and Non-Equity Incentive Plan Compensation.” |
(5) | The amount reported reflects the grant date fair value of an RSU award arrangement approved for Mr. Arison in March 2024 based on the achievement of certain key performance indicators (“KPIs”) for the performance period of fiscal year 2024. In March 2025, the compensation committee granted 176,159 fully vested RSUs to Mr. Arison based on the achievement of the KPIs established in March 2024. |
(6) | In 2023, Mr. Arison received (a) a $1,300,000 annual standard bonus amount earned based on the achievement of Company performance goals; and (b) a $846,000 cash bonus paid to Mr. Arison in 2023 equal to the shortfall between the amount Mr. Arison was entitled to receive as his 2022 annual cash bonus from his previous employer and the amount actually paid by his previous employer (pro-rated based on the number of days Mr. Arison was employed with his previous employer during the calendar year 2022), which Mr. Arison was entitled to pursuant to his employment agreement with us. The $1,300,000 bonus payment had been included in the “Bonus” column in our Annual Report on Form 10-K/A filed for the year ended December 31, 2023, and we have determined that such amount should instead be included in the “Non-Equity Incentive Plan Compensation” column above. The total amount of Mr. Arison’s compensation for 2023 remains unchanged. For further information, please refer to the section titled “Employment Arrangements with Named Executive Officers — George Arison.” |
(7) | The amount reported reflects the grant date fair value of an RSU award arrangement approved for Mr. Arison in December 2023 based on the achievement of certain KPIs for the performance period of fiscal year 2023. In March 2024, the compensation committee granted 247,898 fully vested RSUs to Mr. Arison based on the achievement of the KPIs established in December 2023. |
(8) | The amount reported includes (a) a $259,325 incremental cash bonus awarded by the compensation committee in March 2025 based on individual performance during fiscal year 2024; and (b) a company-wide cash bonus payment of $1,000 received in 2024. For further information, please refer to the section titled “Narrative to Summary Compensation Table — Cash Bonuses and Non-Equity Incentive Plan Compensation.” |
(9) | The amount reported includes the grant date fair value of 200,000 time-based RSUs that were granted to Mr. Balance on October 9, 2024. The amount also includes the grant date fair value of an RSU award arrangement approved for Mr. Balance in March 2024 based on the achievement of certain KPIs for the performance period of fiscal year 2024. In March 2025, the compensation committee granted 9,688 fully vested RSUs to Mr. Balance based on the achievement of the KPIs established in March 2024. The amount also includes the grant date fair value of the market capitalization RSU award arrangement approved for Mr. Balance in October 2024 in the event our daily average market capitalization exceeds $5 billion over a 90-trading day period. We deemed the grant date of the October 2024 market capitalization RSU award arrangement as October 9, 2024, in accordance with FASB ASC Topic 718. The amount reported for Mr. Balance’s October 2024 |
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(10) | In 2023, Mr. Balance received (a) a $270,210 cash bonus based on the achievement of company performance goals; and (b) a $300,000 special cash bonus, in recognition of exceptional performance by Mr. Balance in 2023. The $270,210 bonus payment had been included in the “Bonus” column in our Annual Report on Form 10-K/A filed for the year ended December 31, 2023, and we have determined that such amount should instead be included in the “Non-Equity Incentive Plan Compensation” column above. The total amount of Mr. Balance’s compensation for 2023 remains unchanged. |
(11) | The amount reported includes the grant date fair value of 333,417 RSUs that were granted to Mr. Balance on November 29, 2023. The amount also includes the grant date fair value of the market capitalization RSU award arrangement approved for Mr. Balance in November 2023 in the event our daily average market capitalization exceeds certain thresholds. We deemed the grant date of the November 2023 market capitalization RSU award arrangement as November 29, 2023 in accordance with FASB ASC Topic 718. The amount reported for Mr. Balance’s November 2023 market capitalization RSU award arrangement reflects the deemed grant date fair value of the arrangement based on the probable outcome of the conditions as determined on the deemed grant date. Assuming the highest level of achievement under the November 2023 market capitalization RSU arrangement, the grant date fair value of the market capitalization RSU award arrangement would have been $4,100,000. 197,500 RSUs have been granted to Mr. Balance under the November 2023 market capitalization RSU arrangement. |
(12) | The amount reported includes (a) a $220,000 incremental cash bonus awarded by the compensation committee in March 2025 based on individual performance during fiscal year 2024; (b) a company-wide cash bonus payment of $1,000 received in 2024; and (c) a $55,000 sign-on bonus Mr. Katz earned in 2024 pursuant to the terms of his employment agreement with us. The sign-on bonus was paid in 2023 and is reported as part of Mr. Katz’s 2024 bonus income because Mr. Katz would have been required to return such amount if he voluntarily resigned without Good Reason or was terminated for Cause (as those terms are defined in his offer letter) before March 2024, which was six months after his start date. The total amount of Mr. Katz’s bonus payment was, therefore, earned in 2024 six months following his start date, once he could no longer be required to return any amount of his sign-on bonus to us. |
(13) | The amount reported reflects the grant date fair value of 280,000 RSUs that were granted to Mr. Katz on October 9, 2024. |
• | Annual cash bonus payments for our named executive officers for 2024 were determined based on achievement of weighted metrics with respect to two corporate goals: 2024 Adjusted EBITDA margin of at least 40% and year-over-year revenue growth of at least 23%. Upon achievement of these corporate goals, the percentage of a named executive officer’s target bonus opportunity was adjusted based on the level of year-over-year revenue growth. |
• | In addition to achievement of these corporate goals, annual cash bonus payouts for each named executive officer for 2024 were subject to a performance adjustment (either up or down), determined by the compensation committee, based on a named executive officer’s respective individual contribution to the achievement of the corporate performance outcomes. |
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Option Awards | Stock Awards | ||||||||||||||||||||||||||
Name | Grant Date(1) | Number of Securities Underlying Unexercised Options exercisable (#) | Number of Securities Underlying Unexercised Options Unexercisable (#) | Option Exercise Price ($) | 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 ($) | Equity Incentive Plan Awards: Number of Unearned Shares, Units or Other Rights That Have Not Vested (#) | Equity Incentive Plan Awards: Market or Payout Value of Unearned Shares, Units or Other Rights That Have Not Vested ($)(2) | ||||||||||||||||||
George Arison | 11/15/2022 | — | — | — | — | 2,250,000(3) | 40,140,000 | — | — | ||||||||||||||||||
11/15/2022 | — | — | — | — | — | — | 1,105,665(4) | 19,725,072(5) | |||||||||||||||||||
3/7/2025 | — | — | — | — | — | — | 176,159 | 3,142,677(6) | |||||||||||||||||||
Austin “AJ” Balance | 12/3/2021 | — | 78,915(7) | $4.20 | 12/7/2028 | — | — | — | — | ||||||||||||||||||
11/29/2023 | — | — | — | — | 300,075(8) | 5,353,338 | — | — | |||||||||||||||||||
11/29/2023 | — | — | — | — | — | — | 152,633(4) | 2,722,980(9) | |||||||||||||||||||
10/9/2024 | — | — | — | — | 200,000(10) | 3,568,000 | — | — | |||||||||||||||||||
10/9/2024 | — | — | — | — | — | — | 200,000(11) | 3,568,000 | |||||||||||||||||||
3/7/2025 | — | — | — | — | — | — | 9,688 | 172,834(12) | |||||||||||||||||||
Zachary Katz | 11/29/2023 | — | — | — | — | 248,000(13) | 4,431,760 | — | — | ||||||||||||||||||
11/29/2023 | — | — | — | — | —(13) | — | 84,506(4) | 1,507,601(14) | |||||||||||||||||||
10/9/2024 | — | — | — | — | 280,000(15) | 5,003,600 | — | — | |||||||||||||||||||
(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 $17.84, 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) | The share number equals the valuation as of the last completed fiscal year of the applicable market capitalization RSU award arrangement divided by $17.84, the closing price of a share of common stock at the end of the last completed fiscal year. This amount does not reflect the actual economic value that will ultimately be realized by the named executive officer. Awards issuable pursuant to the applicable market capitalization RSU award arrangements will be granted by the compensation committee only upon satisfaction of the applicable threshold. |
(5) | Represents the valuation as of the last completed fiscal year of the market capitalization RSU award arrangements with Mr. Arison, including both the First CEO Threshold and the Second CEO Threshold. For further information on these market capitalization RSU award arrangements, please refer to the section titled “Narrative to Summary Compensation Table — Equity Compensation — Market Capitalization RSU Arrangements with Mr. Arison.” |
(6) | Represents the value of the 176,159 KPI performance awards granted to Mr. Arison on March 7, 2025, pursuant to a KPI RSU award arrangement approved for Mr. Arison in March 2024, based on the closing price of a share of common stock at the end of the last completed fiscal year. For further information on these performance awards, please refer to the section titled “Narrative to Summary Compensation Table — Equity Compensation — Key Performance Indicator RSU Arrangements.” |
(7) | The option award was granted with a per share exercise price equal to the fair market value of one share of Legacy Grindr’s Series X Ordinary Units on the date of grant, as determined in good faith by Legacy Grindr’s board of managers, and vests as to 25% of the Legacy Grindr Series X Ordinary Units subject thereto on the first anniversary of the vesting commencement date, and 6.25% of the Legacy Grindr Series X Ordinary Units subject thereto will vest each quarter thereafter, subject to Mr. Balance’s continued service to us through each vesting date. The exercise price and number of Legacy Grindr’s Series X Ordinary Units subject to Mr. Balance’s option, reflect the actual |
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(8) | Represents the remaining unvested RSUs that vest over approximately a five-year period, with 10% vesting on the December 1, 2024, and the remaining amount vesting in substantially equal annual installments over the next four years, provided that Mr. Balance remains in continuous service with us through each vesting date. For more information on this award, please refer to the section titled “Narrative to Summary Compensation Table — Equity Compensation — RSU Awards to Mr. Balance.” |
(9) | Represents the valuation as of the last completed fiscal year of the November 2023 market capitalization award arrangements with Mr. Balance, including both the Second CPO Threshold and the Third CPO Threshold. For further information on this arrangement, please refer to the section titled “Narrative to Summary Compensation Table — Equity Compensation — Market Capitalization RSU Arrangements with Messrs. Balance and Katz.” |
(10) | Represents the remaining unvested RSUs that vest in full on November 11, 2028, provided that Mr. Balance remains in continuous service with us through such vesting date. For more information on this award, please refer to the section titled “Narrative to Summary Compensation Table — Equity Compensation — RSU Awards to Mr. Balance.” |
(11) | Represents the October 2024 market capitalization award arrangement with Mr. Balance. For further information on this arrangement, please refer to the section titled “Narrative to Summary Compensation Table — Equity Compensation — Market Capitalization RSU Arrangements with Messrs. Balance and Katz.” |
(12) | Represents the value of the 9,688 KPI performance awards granted to Mr. Balance on March 7, 2025, pursuant to a KPI RSU award arrangement approved for Mr. Balance in March 2024, based on the closing price of a share of common stock at the end of the last completed fiscal year. For further information on this award, please refer to the section titled “Narrative to Summary Compensation Table — Equity Compensation — Key Performance Indicator RSU Arrangements.” |
(13) | Represents the remaining unvested RSUs that vest in equal installments over a 5-year period on September 12 of each year beginning on September 12, 2024, provided that Mr. Katz remains in continuous service with us through each vesting date. For more information on this award, please refer to the section titled “Employment Arrangements with Named Executive Officers — Zachary Katz — Katz Employment Agreement.” |
(14) | Represents the valuation as of the last completed fiscal year of the market capitalization award arrangements with Mr. Katz, including both the Second GC Threshold and the Third GC Threshold. For further information on this arrangement, please refer to the section titled “Narrative to Summary Compensation Table — Equity Compensation — Market Capitalization RSU Arrangements with Messrs. Balance and Katz.” |
(15) | Represents the remaining unvested RSUs that vest in equal installments over a 5-year period on November 11 of each year beginning on November 11, 2025, provided that Mr. Katz remains in continuous service with us through each vesting date. For more information on this award, please refer to the section titled “Narrative to Summary Compensation Table — Equity Compensation — RSU Awards to Mr. Katz.” |
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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 | 7,010,092(3) | $5.00(4) | 8,334,958 | ||||||
Equity compensation plans not approved by stockholders(5) | — | — | — | ||||||
Total | 7,010,092 | 8,334,958 | |||||||
(1) | Includes the Grindr Inc. Amended and Restated 2022 Equity Incentive Plan and the Grindr Group LLC Amended and Restated 2020 Equity Incentive Plan. For further detail on our equity compensation plans, please see Note 14 “Stock-Based Compensation” to the financial statements included in the 2024 Form 10-K. |
(2) | Includes only the Grindr Inc. Amended and Restated 2022 Equity Incentive Plan. |
(3) | Includes 6,304,976 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 and directors 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) | 12,536,405 | 6.4% | ||||
Directors and Executive Officers | ||||||
George Arison(3) | 418,896 | * | ||||
Austin “AJ” Balance | 42,014 | * | ||||
Zachary Katz | 111,189 | * | ||||
Raymond Zage, III(4) | 93,713,454 | 47.8% | ||||
James Fu Bin Lu(5) | 26,591,512 | 13.6% | ||||
J. Michael Gearon, Jr.(6) | 11,574,802 | 5.9% | ||||
Daniel Brooks Baer(7) | 25,121 | * | ||||
Meghan Stabler(8) | 29,838 | * | ||||
Nathan Richardson(9) | 16,126 | * | ||||
Chad Cohen(9) | 1,391 | * | ||||
All current Company directors and executive officers as a group (eleven individuals) | 132,837,555 | 67.7% | ||||
(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 February 21, 2025, as updated based on additional information as of April 21, 2025 made available to the Company. The business address for Mr. Brest is Ocean Financial Centre, Level 40, 10 Collyer Quay, Singapore, U0, 049315. |
(3) | Consists of (i) 318,896 shares of common stock held by Mr. Arison; and (ii) 100,000 shares of common stock held by the George Arison 2024 GRAT. |
(4) | Based on a Schedule 13D/A filed with the SEC by Mr. Zage on February 24, 2025, as updated based on additional information as of June 4, 2025 made available to the Company. 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) 1,060,507 shares of common stock held by Big Timber Holdings, LLC, a Nevis limited liability company (“Big Timber”); (iii) 6,724,435 shares of common stock held by Mr. Zage; and (iv) 2,179 shares issuable under outstanding RSUs vesting on or before August 3, 2025. 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. The business address for Mr. Zage, Tiga 88 and Big Timber is Ocean Financial Centre, Level 40, 10 Collyer Quay, Singapore, U0, 049315. |
(5) | Based on a Schedule 13D/A filed with the SEC by Mr. Lu on May 23, 2025, as updated based on additional information as of June 4, 2025, made available to the Company. Consists of (i) 26,588,867 shares of common stock held by Longview Grindr Holdings Limited, a British Virgin Islands company (“Longview Grindr”); and (ii) 2,645 shares issuable under outstanding RSUs vesting on or before August 3, 2025, 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 |
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(6) | Based on a Schedule 13D/A filed with the SEC by Mr. Gearon on February 3, 2025, as updated based on additional information as of June 4, 2025 made available to the Company. 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) 630 shares of common stock held by Mr. Gearon; and (iv) 2,645 shares issuable under outstanding RSUs vesting on or before August 3, 2025. 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 2,617 shares issuable under outstanding RSUs vesting on or before August 3, 2025. |
(8) | Includes 2,614 shares issuable under outstanding RSUs vesting on or before August 3, 2025. |
(9) | Includes 3,023 shares issuable under outstanding RSUs vesting on or before August 3, 2025. |
(10) | Mr. Cohen joined the board on June 3, 2025. Consists of 1,398 shares issuable under outstanding RSUs vesting on or before August 3, 2025. |
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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; |
• | 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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• | one Form 4 for each of Daniel Brooks Baer, J. Michael Gearon, Jr., Gary I Horowitz, James Fu Bin Lu, Nathan Richardson, Meghan Stabler, and G. Raymond Zage III reporting their annual non-employee director equity awards, as a result of which one transaction for each non-employee director was not reported on a timely basis; |
• | one Form 4 for each of George Arison, AJ Balance, and Zachary Katz, as a result of which receipt of one restricted stock unit award by each of Messrs. Arison, Balance, and Katz, respectively, was not reported on a timely basis; and |
• | two Form 4s for Kye Chen, who served as our Chief Accounting Officer until November 2024, as a result of which receipt of one restricted stock unit award by her and one transaction involving the withholding of common stock to satisfy tax obligations upon settlement of restricted stock units were not reported on a timely basis. |
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By order of the Board of Directors, | |||
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Zachary Katz General Counsel and Secretary West Hollywood, California June 20, 2025 | |||
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