Corporate GovernanceJul 2, 2026, 04:22 PM
Functional Brands Grants CEO 3.5M Stock Options, Replaces RSUs
AI Summary
Functional Brands Inc. announced an amendment to the Executive Employment Agreement for its Chief Executive Officer, Eric Gripentrog. The amendment, approved on June 30, 2026, replaces a previous $500,000 performance equity award of restricted stock units with a grant of options to purchase 3,500,000 shares of the company's common stock. These options are fully vested and immediately exercisable, with an exercise price of $0.0055 per share and a grant-date fair value of approximately $14,685.
Key Highlights
- CEO Eric Gripentrog's executive employment agreement was amended.
- A prior $500,000 performance equity award of restricted stock units was deleted.
- Replaced with a grant of options to purchase 3,500,000 shares of common stock.
- Options have an exercise price of $0.0055 per share.
- The options are fully vested and immediately exercisable as of the grant date.
- The grant-date fair value of the options is approximately $14,685.
- Total exercise price for all options is $19,250.00.
Price Impact
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