Functional Grants CEO 3.5 Million Stock Options at $0.0055 Under Amended Employment Deal
Updated
Updated · TradingView · Jul 3
Functional Grants CEO 3.5 Million Stock Options at $0.0055 Under Amended Employment Deal
1 articles · Updated · TradingView · Jul 3
Summary
Functional awarded CEO Eric Gripentrog a fully vested option to buy 3,500,000 shares, effective June 30 and exercisable immediately.
The grant came through an amended employment agreement after the Compensation Committee approved replacing a prior RSU award with a stock option package.
The options were issued under Functional's 2026 Equity Incentive Plan as incentive stock options, carry a $0.0055 exercise price and run for 10 years.
The company disclosed the change in a July 2 8-K filing, signaling a revised equity-based compensation structure for its chief executive.